Brookfield raises $2.4 Billion for Climate Fund backed by UAE
Brookfield Asset Management announced on Monday that it had raised $2.4 billion to support the Catalytic Transition Fund, which is supported by the United Arab Emirates. The fund aims at scaling up climate finance for emerging markets. CTF was launched last December at the COP28 Climate Talks in Dubai…
Oman's OQEP will offer 25% in IPO, reports state news agency
Oman's OQEP Exploration and Production will offer 25% its total issued capital on September 30, making it the largest initial public offering in the Gulf Region this year. The IPO plans form part of a program by OQ, the state-owned group that controls energy in Oman. This…
BP sells its US Onshore Wind Business
BP announced Monday that it plans to sell the U.S. Onshore Wind Energy business. The assets did not align with its growth plan. BP has announced that it will soon begin the process of selling its wind assets. bp Wind Energy is a company with interests in ten operating onshore wind power assets spread across seven U.S. States.
Zara founder Ortega triples investment in energy assets
Amancio Ortega, founder of Zara and his investment company Pontegadea, almost tripled their investments in renewable energy last year. They are continuing to expand the efforts they have made to diversify Amancio Ortega’s fortune outside his fashion empire. The 2023 financial statements filed at the Mercantile Register…
Malaysian State Open to Buying Petronas Stake
Malaysia's Terengganu state said on Wednesday it was open to buying a stake in national energy giant Petronas, after Prime Minister Mahathir Mohamad said he was considering such a sale to raise funds for his heavily-indebted federal government.Petronas, the world's third-largest exporter of liquefied natural gas…
China, Philippines: 'Bigger Step' Possible Offshore
Chinese President Xi Jinping said China and the Philippines could take a "bigger step" in the joint development of oil and gas resources in the South China Sea if they can "properly" handle their dispute over sovereignty.Xi made the remarks on Thursday in a meeting in Beijing with Philippine President Rodrigo Duterte, who has positioned h
Santos Posts Record Production in Q1
Australia's No.2 independent gas producer Santos Ltd on Wednesday posted record quarterly production, boosted by its acquisition of Quadrant Energy assets, while sales revenue jumped 28 percent.Santos said production for the quarter ended March 31 rose to a record 18.4 million barrels of oil equivalent (mmboe)…
Macquarie Kicks off Sale of Wind Assets in Italy and France
Infrastructure fund Macquarie has kicked off the sale of its Renvico wind farm portfolio located in Italy and France worth around 400 million euros ($450 million), four sources familiar with the matter said.The Australian fund, advised by Rothschild, has sent out teasers and information memoranda will follow at the end of the month…
Ineos to Upgrade Forties Pipeline
Billionaire Jim Ratcliffe's petrochemicals company Ineos said on Wednesday it would spend 1 billion pounds ($1.33 billion) on UK energy assets, including the Forties pipeline, which carries almost half of Britain's oil and gas from the North Sea.Ineos said it would invest 500 million pounds on overhauling its ageing Forties pipeline…
Schottel Merges Tidal Units to Sustainable Marine Energy
Schottel, the manufacturer of propulsion and steering systems for ships and offshore applications, has made a strategic decision to merge its tidal energy businesses into Sustainable Marine Energy (SME), including UK subsidiary TidalStream Ltd and Canadian subsidiary Black…
Offshore Wind Ready To Take Off in US
Up and down the East Coast, initiatives to develop a massive and largely untapped market can make sea change in American offshore wind, says the Institute for Energy Economics and Financial Analysis (IEEFA).IEEFA pointed out that the big lease sales ($405 million) last month…
Mariner East 2 Pipeline Operational: Energy Transfer
United States-based Energy Transfer announced that its Mariner East 2 natural gas liquids (NGLs) pipeline is in service, available for both interstate and intrastate service.The natural gas company which owns and operates one of the largest and most diversified portfolios of energy assets…
DNV GL Launches Operations & Analytics Centre in India
DNV GL, the world’s largest independent energy advisory and certification body, has launched a new Global Operations & Analytics Centre for renewable assets located in Bengaluru, India.The new centre will work in tandem with DNV GL’s existing UK Operations Control Centre in Glasgow…
Sempra Energy to Shed U.S. Storage, Renewable Assets
U.S. utility Sempra Energy said on Thursday it plans to sell some of its natural gas storage and renewable energy assets and expects to record a charge between $1.47 billion and $1.55 billion during the second quarter. Earlier this month, activist investors Elliott Management and Bluescape Resources Co…
Bahrain Launches $1 bln Energy Fund
Bahrain's government has launched an energy fund that aims to raise $1 billion from local, regional and international investors to develop the kingdom's energy assets, Oil Minister Sheikh Mohammed bin Khalifa al-Khalifa said on Thursday.The Bahrain Energy Fund will receive its initial capital from local entities including Nogaholding, the
Total Pays $1.7 bln for French Electric Retailer
Acquisition makes Total major competitor for EDF; and they paid 30 pct premium on Direct Energie's last close. Oil company Total said it will buy a majority stake in French electricity retailer Direct Energie in a 1.4 billion euro ($1.73 billion) deal that beefs up its challenge to state-owned market leader EDF.
Fieldwood Hungry for US Offshore Output
The Chief Executive of offshore oil and gas driller Fieldwood Energy LLC, Matt McCarroll, says he is not scared of the hurricanes, geological risks and costs that keep some oil companies out of the Gulf of Mexico. Instead, he is doubling down. The private equity-backed company - already the largest operator on the U.S.
ReNew Power Buys Ostro Energy
ReNew Power, backed by Goldman Sachs and Canada Pension Plan Investment Board (CPPIB), said on Monday it has acquired Ostro Energy Private Ltd, backed by London-based Actis LLP, in one of India's biggest renewable energy deals. ReNew did not disclose financial details, but…
UPM May Build New Biofuel Plant in Finland
Pulp and paper maker UPM is looking at building a new renewable fuel plant in Finland, it said on Monday, part of efforts to find new sources of growth in response to falling paper demand in Europe. UPM is the world's largest maker of graphic papers such as newsprint and magazine paper…
Engie Plans to Go Green
French utility Engie plans to switch all of its gas operations to biogas and renewable hydrogen by 2050, making it 100 percent green, its chief executive said on Monday. The power and gas group has some 70 biogas projects worldwide, including 40 in France, and says that if…
