(WoodMac, 12.Jun.2024) — European gas storage is forecast to reach 100% by the end of September and remain full until the end of October, with an additional 4 million tonnes per annum (mmtpa) of floating storage also accumulated according to a new report by data and analytics company Wood Mackenzie. […]
Category: Europe
Europe energy
OMV Starts Co-processing Plant at Schwechat Refinery
(OMV, 10.Jun.2024) — OMV has started up its co-processing plant at the Schwechat refinery in Austria. Almost EUR 200mn have been invested to allow up to 160,000 metric tons of liquid biomass being converted into high-quality renewable hydrogenated vegetable oil components. These more sustainable blending components will be used also […]
TotalEnergies: Capital Increase Reserved for Employees of in 2024
(TotalEnergies, 6.Jun.2024) — In accordance with its policy in favour of employee shareholding, the Board of Directors of TotalEnergies SE decided, on 21 Sep. 2023, to carry out a capital increase reserved for eligible employees and former employees of TotalEnergies SE and its French and foreign subsidiaries in which the […]
Speed and Scale of Energy Transition Must Increase, Equinor Says
(Equinor, 6.Jun.2024) — In 2024, almost half of the world’s population go to the polls. Many elections will demonstrate some of the key trends shaping world politics: geopolitical competition, economic nationalism, and political polarisation. This in turn will impact global energy markets and the progress of the energy transition. Energy […]
Election to Equinor’s Board of Directors
(Equinor, 6.Jun.2024) — In a meeting in the corporate assembly of Equinor ASA (OSE:EQNR, NYSE:EQNR) on 4 Jun. 2024 Tone Hegland Bachke and Fernanda Lopes Larsen were elected as new members to the board of directors of Equinor. Furthermore, the corporate assembly re-elected Jon Erik Reinhardsen as chair and Anne Drinkwater […]
Equinor Divests Interests in Gina Krog Area
(Equinor, 4.Jun.2024) — Equinor is selling 19.5% interests in production licenses PL 048E, which is the Eirin field, and PL 1201 to PGNiG Upstream Norway AS (PGNiG). With this, the ownership between Equinor and PGNiG in these licenses will be balanced with the Gina Krog field. The plan for development […]
TE H2 Partners with VERBUND on Large Project in Tunisia
(TotalEnergies, 28.May.2024) — TE H2 a joint-venture between TotalEnergies and EREN Groupe, together with VERBUND, Austria’s leading electricity company, have signed a Memorandum of Understanding with the Republic of Tunisia to study the implementation of a large green hydrogen project named “H2 Notos” for export to Central Europe through pipelines. H2 […]
Aker Solutions Doubles Down on Consultancy Business, Unveils New Name
(Aker Solutions, 23.May.2024) — Aker Solutions’ consultancy has today announced plans to double its revenues and headcount by 2030 as it introduces its new name, Entr. Entr’s growth is driven by an increased demand for Aker Solutions’ early phase offerings and the need to adapt its services for new and […]
Pan Global Accelerates Copper Project in Southern Spain
(Pan Global, 23.May.2024) — Pan Global Resources Inc. (TSXV: PGZ) (OTCQX: PGZFF) (FRA: 2EU) announced the addition of a second drill rig at the Escacena Project to augment the planned 2024 drilling program at the company’s 100%-owned Escacena Project in the Iberian Pyrite Belt, southern Spain. “Building on the base of positive drill results […]
Petrobras Ranking by Poder 360
(Energy Analytics Institute, 18.May.2024) — In 2023, Petrobras was the 4th most profitable oil company. Saudi Arabia’s Saudi Aramco remains the leader, on its own, according to Poder 360. Petrobras ranked above other oil majors, including some with higher revenues. This is the case of the British BP, the Norwegian […]
CGG Changes Name to Viridien
(CGG, 16.May.2024) — At the Annual General Meeting on 15 May 2024, shareholders approved the resolution to change the company’s corporate name from CGG to Viridien. Sophie Zurquiyah, CEO, Viridien, said: “Our new name, Viridien, connects our company’s history to our future, confidently positioning us for accelerated growth as an […]
Exmar Provides 1Q:24 Update
(Exmar, 16.May.2024) — EXMAR’s engineering subsidiaries Exmar Offshore Company in Houston and DV Offshore in Paris had continued high utilization rates for their third-party engineering services, the company said in its first quarter 2024 update. ____________________
Poland Hunts for $330mn of Orlen Payments for Venezuela Oil
(Reuters, 14.May.2024) — A Swiss unit of Polish refiner Orlen paid two Dubai-based intermediary companies $330 million for Venezuelan oil, but Venezuela’s state oil company PDVSA never received the money, according to sources and a document seen by Reuters. Prosecutors in Poland are investigating the loss of about $400 million […]
SMA Mineral and Infinium to Advance eFuels Project in Norway
(SMA Mineral, 10.May.2024) — eFuels leader Infinium reached an agreement with SMA Mineral that will advance the development of Infinium’s eFuels project at the Mo Industripark in Mo i Rana, Norway. The Infinium facility will utilize the carbon dioxide (CO2) that SMA will produce at its Zero Emission Quick Lime […]
CGG Launches AI Cloud Solution Powered by NVIDIA
(CGG, 9.May.2024) — CGG announced the launch of its AI Cloud solution, designed to meet the needs of data-intensive industries, including life sciences, digital media, manufacturing and geoscience, that seek to optimize and accelerate their demanding and resource-heavy AI workloads. CGG’s new AI Cloud solution combines the latest high-performance architecture, […]
Phillips 66 Reports 1Q24 Results, Highlights Strategic Priorities
(Phillips 66, 26.Apr.2024) — Phillips 66 (NYSE: PSX) announced first-quarter earnings of $748mn, compared with earnings of $1.3bn in the fourth quarter. Excluding special items of $74mn, the company had adjusted earnings of $822mn in the first quarter, compared with fourth-quarter adjusted earnings of $1.4bn. “In the first quarter, we […]
Repsol Posts 1Q:24 Net Income of €969mn
(Repsol, 25.Apr.2024) — Repsol reported operating cash flow during the first quarter of 2024 was €1,362mn, €465mn lower than in the same period of 2023. Excluding working capital, Operating Cash Flow during the quarter more than covered organic investments, dividends, treasury shares and interests. Group’s net debt at the end […]
Deals Show Enduring Appeal of US Gas
(Rystad Energy, 19.Apr.2024) — European companies have been cautiously adding to their upstream positions. More deals could follow. Ed Crooks examines the forces shaping the energy industry globally The great investor Warren Buffett says one of his rules is “never bet against America”. There are many who share that view, […]
Repsol Completes Construction of Frye Solar, its Largest Solar Plant in the US
(Repsol, 11.Apr.2024) — Repsol completed construction of its Frye Solar project, its largest photovoltaic plant to date, with a total installed capacity of 637 MW and 570 MW currently in operation. Located in the United States, the Frye Solar project was built near the city of Kress, Swisher County, Texas. […]
S&P Upgrades CGG’s Long Term Debt
(CGG, 8.Apr.2024) — CGG announced that S&P Global Ratings has upgraded the company’s issuer credit rating to ‘B’ from ‘CCC+’. S&P noted “a markedly stronger 2024–2025 financial performance” as a reason for the upgrade. “We believe that S&P’s rating upgrade aligns with our recently communicated financial roadmap”, said CGG CFO […]
TotalEnergies Launches New Battery Storage Project in Belgium
(TotalEnergies, 3.Apr.2024) — On the occasion of Belgian Energy Minister Tinne Van der Straeten’s visit to TotalEnergies‘ Antwerp refinery battery storage project, the company announced the development in Belgium of a second similar project. The new project will be developed on the site of TotalEnergies’ depot in Feluy. It will […]
Valmet Completed Acquisition of Process Gas Business from Siemens
(Valmet Oyi, 2.Apr.2024) — Valmet has completed the acquisition of the Process Gas Chromatography & Integration business from Siemens AG. The closing of the transaction follows the agreement that was announced on 17 Jul. 2023. The Process Gas Chromatography & Integration business of Siemens is a market leader with its MAXUM […]
Exmar Released its 2023 Results-PDF Download
(Energy Analytics Institute, 26.Mar.2024) — Exmar released details and highlights related to its activities in 2023 spanning the Marine XII project in Congo to Exmar re-entering the drilling segment as well as some subsequent events such as Exmar expanding its holding in Vantage Drilling. ____________________ By Aaron Simonsky. © Energy Analytics […]
Eni, Fincantieri and RINA Team up Against Maritime Transport Decarbonization
(Eni, 25.Mar.2024) — Eni, Fincantieri, one of the world’s largest shipbuilding groups, the only one active in all high-tech marine industry sectors, and RINA, a multinational inspection, certification, and engineering consultancy, have signed an agreement to develop joint initiatives for the energy transition. The partnership formalises the commitment to develop […]
CERAWeek 2024 Boasts Delegate Attendance of 8,100+
(Energy Analytics Institute, 22.Mar.2024) — The CERAWeek by S&P Global, held 18-22 Mar. 2024 in Houston, Texas, boasted in attendance 8,100+ delegates (9,400+ when counting staff, vendors etc), a record compared to the prior record of 7,200+ delegates at CERAWeek 2023. CERAWeek counted on 1,400 speakers and tons of S&P […]
SBM and Technip Energies to Form EkWiL, a Floating Offshore Wind JV
(SBM Offshore, 14.Mar.2024) — SBM Offshore and Technip Energies signed a Memorandum of Understanding for the creation of a joint venture entity, EkWiL. The new company will be a Floating Offshore Wind (FOW) pure player, capable of proposing a wide range of solutions to clients. Highlights: Two global leaders in Floating […]
CGG Reveals Year-End 2023 Results
(CGG, 6.Mar.2024) — CGG announced its fourth quarter of 2023 and full year 2023 audited results. “In 2023, CGG significantly strengthened its financal performance, I am pleased to see that we returned to positive organic cash flow generation, while continuing to invest in our new businesses,” CGG CEO Sophie Zurquiyah said. […]
STRYDE Secures Contracts in Support of European Energy Security
(STRYDE, 5.Mar.2024) — STRYDE is celebrating a string of new European contracts, cementing its position as the market-leading provider of onshore seismic nodes and helping to enhance energy security in the European region. Leading the new deals is the purchase of 25,000 STRYDE Nodes™ by first-time client, Ukrainian seismic acquisition firm, […]
EAI’s NRGBriefs for Feb. 2024: Guyana, Mexico, Uruguay and Venezuela
HOUSTON, TEXAS (By editors with Energy Analytics Institute, 29.Feb.2024, Words: 3,790) — Energy briefs as well as others related to finance and projects during Feb. 2024 including Exxon Mobil and CNOOC considering their pre-emption rights to Hess Corp.’s stake in the offshore Stabroek Block; increases in electricity for the majority […]
Bristow Helicopter Involved in Accident
(Bristow, 28.Feb.2024) — Bristow Group Inc. confirmed that one of its search and rescue helicopters, registration LN-OIJ, was involved in an accident at about 19:40 CET approximately nine nautical miles west of Bergen, Norway. The aircraft, which is contracted to a civilian customer, was conducting a training exercise at the […]
Repsol CEO Josu Jon Imaz comments on Venezuela situation, Cardon IV production
BELIZE CITY, BELIZE (Aaron Simonsky, Energy Analytics Institute, 22.Feb.2024) — Repsol CEO Josu Jon Imaz commented on the Spanish company’s operations in Venezuela under Washington’s most recent OFAC license. “We are putting the same metrics we had in November before the license approved by the American administration at the end of the […]
![Repsol Reveals Strategic 2024-2027 Update [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2022/05/53431_repsol-sede-cerca.jpg)
Repsol Reveals Strategic 2024-2027 Update [PDF Downloads]
(Repsol, 22.Feb.2024) — “Over the next four years we will stay the course on the strategy we presented in our previous plan to address the energy transition and we will focus on all the types of energy that meet our customer’s needs. We are convinced that this approach, in which […]
Aker ASA Reveals Preliminary Annual Results 2023
(Aker, 20.Feb.2024) — The Net Asset Value (“NAV”) of Aker ASA and holding companies Aker was NOK 63.2bn at the end of the fourth quarter 2023, or NOK 64.3bn before dividends paid, compared to NOK 64.1bn at the end of the third quarter. Aker’s Board proposes to pay a cash […]
France High-Level Business Council 2nd Plenary Meeting
(TotalEnergies, 19.Feb.2024) — H.E. Dr. Sultan Ahmed Al Jaber, the UAE Minister of Industry and Advanced Technology and MD & CEO of ADNOC, and Mr. Patrick Pouyanné, Chairman and CEO of TotalEnergies chaired, this Monday in Paris, the second plenary meeting of the UAE – France High-Level Business Council, in […]
![Eni Reports 2023 Full Year Results [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2023/10/congo.jpg.rend_.1140.0-source-eni.jpg)
Eni Reports 2023 Full Year Results [PDF Downloads]
(Eni SpA, 16.Feb.2024) — Eni‘s Board of Directors, chaired by Giuseppe Zafarana, yesterday approved the unaudited consolidated results for the full year and the fourth quarter of 2023. Eni CEO Claudio Descalzi said: “2023 was another year of excellent results for Eni in the face of an uncertain and volatile […]
![Shell LNG Outlook 2024 [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2024/02/shell-lng-outlook-2024.png)
Shell LNG Outlook 2024 [PDF Downloads]
(Shell plc, 19.Feb.2024) — Global demand for liquefied natural gas (LNG) is estimated to rise by more than 50% by 2040, as industrial coal-to-gas switching gathers pace in China and South Asian and South-east Asian countries use more LNG to support their economic growth. Global trade in LNG reached 404 […]
TotalEnergies on Capital Increase Reserved for Employees in 2024
(TotalEnergies, 16.Feb.2024) — In accordance with its policy in favor of employee shareholding, TotalEnergies SE is implementing its annual capital increase reserved for employees and former employees of the company. Through this operation, TotalEnergies intends to continue involving its employees in the company’s growth. Employee shareholders, within the meaning of […]
Aquaductus Offshore Pipeline Notified as an IPCEI Project
(GASCADE, 15.Feb.2024) — The AquaDuctus hydrogen pipeline planned by GASCADE Gastransport GmbH in the North Sea has received state aid approval from the European Commission under the IPCEI hydrogen framework: “AquaDuctus will receive the green hydrogen produced in the North Sea and transport it to the German mainland. The offshore […]
Reactive Downhole Tools Accelerates Growth through Restructuring
(Reactive Downhole Tools, 13.Feb.2024) — Realigning regional resources into a global focus, provider of high-performance well completion solutions and technologies to the global oil and gas industry, Reactive Downhole Tools, has announced a significant restructure of its Senior Management Team. Under the leadership of CEO Mike Allen, Niall Urquhart has […]
EWE and GASCADE Team up to Develop Hydrogen Infrastructure
(GASCADE, 9.Feb.2024) — EWE, an energy service provider and storage operator, has joined the collaborative initiative of gas transport network operators GASCADE, ONTRAS and terranets bw as an associated partner with experience in hydrogen storage. EWE and gas transmission network operator and project initiator GASCADE have now signed a formal […]
TotalEnergies on Indicative Dates for 2024, 2025 Dividends
TotalEnergies, 7.Feb.2024) — The Board of Directors of TotalEnergies SE met on 6 Feb. 2024, and recalled, subject to decisions by the board and the shareholders’ meeting which will approve the 2024 financial statements, allocation of earnings and final dividend, the ex-dividend dates for 2024 and decided the payment dates […]
![TotalEnergies Updates on Suriname FID 4Q:23 Webcast [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2023/10/FSRU-source-totalenergies.webp)
TotalEnergies Updates on Suriname FID 4Q:23 Webcast [PDF Downloads]
(TotalEnergies, 7.Feb.2024) — TotalEnergies SE reported its 4Q:23 and year end 2023 results, commenting on its Suriname FID planned for later in 2024 and other plans related to its LNG portfolio. ____________________
Stena RoRo Takes Delivery of E-Flexer RoPax Vessel
(Stena RoRos, 7.Feb.2024) — Today, number ten of the Stena RoRo E-Flexer series was delivered from the CMI Jinling, Weihai Shipyard. The vessel, named Ala’suinu, will be on a long charter agreement with the Canadian state-owned Marine Atlantic and operate a ferry line in eastern Canada between Newfoundland and Nova Scotia. […]
TotalEnergies and Vantage enter 75/25 JV Owning Tungsten Explorer Drillship
(TotalEnergies, 26.Feb.2024) — TotalEnergies and Vantage Drilling International signed a binding agreement to create a new joint venture (JV) that will acquire from Vantage the Tungsten Explorer drillship. Pursuant to the terms of the agreement, TotalEnergies will pay $199mn for a 75% interest in the JV owning the rig, with […]
Aker BP awarded 27 licenses in APA 2023
(Aker BP, 25.Jan.2024) — The Norwegian authorities are offering Aker BP ownership interest in 27 exploration licenses on the Norwegian continental shelf in the APA 2023 licensing round. For 17 of the licenses Aker BP is also granted operatorship. The award consolidates our position as the most active independent exploration […]
Golden Agri-Resource, Verborg Forge Strategic Partnership
(Golden Agri-Resources, 25.Jan.2024) — Golden Agri-Resources (GAR), a global agribusiness and palm oil producer, is pleased to announce a strategic partnership with Verborg Group, a new entrant in the vegetable oil market. The collaboration entails a multi-year contract, where GAR will be the exclusive supplier of over a million tons […]
CGG to Support Critical Mineral Exploration in Mongolia
(CGG, 18.Jan.2024) — CGG has been selected by the French government as a technical partner to support the LiMongolia project, a joint initiative by the National Geological Survey of Mongolia (NGS) and the French geological survey, BRGM, to evaluate the regional prospectivity of Mongolia for critical minerals, particularly uranium and […]
Dtek Buys Stryde Seismic System for Ukraine Exploration
(Stryde, 17.Jan.2024) — Stryde agreed a deal to provide Ukraine’s leading and biggest private energy operator, Dtek Oil&Gas with 30,000 Stryde™ and its Nimble System™ to acquire 3D and 2D seismic surveys across the country. The new contract will see Stryde deliver its portable and agile nodal system to support […]
Aker BP and DeepOcean Finish Autonomous Inspection Trials
(DeepOcean, 16.Jan.2024) — DeepOcean and Aker BP successfully completed subsea trials with an Autonomous Inspection Drone (AID) at the Aker BP operated Alvheim field in the central North Sea. “While testing of autonomous technology is exciting on its own, our primary purpose was to find out if subsea inspection can […]
Exergy Supports Decarbonization in Turkey
(Exergy International, 16.Jan.2024) — Exergy International, a global provider of clean energy technology, leader in new generation geothermal ORC power plants, yesterday signed a contract with Emirler Enerji Elektrik Uretim A.S. for the supply of a 8 MWe geothermal binary plant, the Emirler 1 JES Unite 2, located in Saraykoy, in Denizli region, Turkey. Exergy […]