The green energy arm of NTPC, a state-run company, files for a $1.2 billion India IPO
India's NTPC Green Energy filed a draft paper for a $100 billion rupee ($1,19 billion) initial IPO on Wednesday. The company is looking to capitalize on India's plans to expand its renewable energy sector and the booming equities markets. Draft papers show that the company, a subsidiary of NTPC, a state-owned energy producer, will only sell new shares and will not allow existing shareholders to sell their stakes. India's IPO market is booming.
Financial Times - Sept 4
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. After warning of a new "era of austerity", the Scottish finance secretary announced a 500 million pound ($655.40) cut in spending to relieve "enormous" pressure on the budgets of the devolved authorities. TotalEnergies, the French oil and gas company…
Fortescue prepares to meet the strong demand for green Iron in China
Fortescue, which is about to start production of green iron using renewable energy in the next year, said that Australia was well positioned to meet China's strong demand for this product. Christmas Creek, the fourth largest iron ore mine in the world, will produce high-purity green iron using solar power at its Christmas Creek operation in Western Australia. Mark Hutchinson…
Crowley Commits to Net-zero GHG Emissions by 2050
As the maritime industry collectively struggles to chart the course toward decarbonization, Crowley today committed to net-zero greenhouse gas emissions across all scopes by 2050, pursuing a path aligned with the latest climate science to limit global warming to 1.5 degrees Celsius.What this means is an overall reduction of 4.2 million metric tons of greenhouse gases per year…
SENER Names Álvaro Lorente as MD
Spanish engineering and technology group SENER has appointed Alvaro Lorente, former Operations Manager in the energy division as Managing Director.He graduated in Industrial Engineering from the Pontificia Comillas University (ICAI), majoring in Electrical Engineering, and joined SENER in 1991. Among other posts, he has been head of SENER's Mechanics Section, Operations Manager for Renewables…
Siemens Exits Power, Gas, Renewable Biz
German conglomerate Siemens AG said it will spin off and give up its majority stake in its energy division and merge it with separately listed wind turbine supplier Siemens Gamesa Renewable Energy (SGRE), creating a new multi-technology global energy powerhouse. The company’s supervisory board announced the spinoff on May 7 as part of its Vision 2020+ strategy concept. The board…
Oryx Acquires South African Marine Fuels
Oryx Energies, a provider of oil and gas products and services, has acquired the majority stake in South African Marine Fuels (SAMF), a bunkering company in Algoa Bay, Eastern cape, South Africa.Founded in 2016, SAMF is a woman-run enterprise with 100% South African staff operating at the only port in South Africa that has licensed offshore bunkering and ship service operations…
Bpifrance, TechnipFMC File Complaint Against Naval Group
French state-owned bank Bpifrance and oil services company TechnipFMC have filed a complaint against Naval Group for willful misrepresentation, a source close to the matter told Reuters, confirming a story in Challenges magazine.The complaint was filed in a Paris tribunal after Naval Group decided to wind down its tidal energy division, in which both Bpifrance and Technip had also invested, Challenges magazine wrote.Naval Group declined to comment.(Reporting by Matt
En+ Considers Move to Russia's New Offshore Zone
En+ Group, hit by U.S. sanctions against Russia in April, said on Thursday it was investigating the possibility of re-domiciling from Britain's Jersey to one of Russia's new offshore zones.London-listed En+ Group, which manages the energy and aluminium businesses of Oleg Deripaska, was one of eight companies with ties to the Russian tycoon to be placed on a U.S. Treasury blacklist in April. The sanctions were related to Moscow's alleged meddling in the 2016 U.S.
Heijermans Joins Boskalis Management Board
During today's Extraordinary General Meeting of Shareholders, Bart Heijermans was appointed to the Board of Management of Royal Boskalis Westminster N.V. for a term until the Annual General Meeting of Shareholders in 2022.Heijermans will be responsible for the company’s offshore energy division, effective September 1, 2018.Heijermans brings to the board extensive experience in the offshore industry…
Yaskawa Ups Investment in The Switch
Yaskawa Corporation is making a multimillion-euro investment to strengthen the R&D capabilities of The Switch and purchase new equipment at the company’s factory in Lappeenranta, Finland.The investment will enable drive train testing of up to 15 MW. The Switch will now become Yaskawa European’s Environmental Energy Division, leading the Japanese company’s global business in the marine…
Sale of Maersk Oil to Total Complete
A.P. Møller - Mærsk A/S [A.P. Moller - Maersk] has received all regulatory approvals and has today completed the sale of Mærsk Olie og Gas A/S [Maersk Oil] to Total S.A. [Total], which was announced on 21 August 2017. A.P. Moller - Maersk has transferred its shares in Maersk Oil to Total and as consideration received 97.5 million Total shares equalling USD 5.6bn as of 7 March 2018.
Asia's Soaring Gas Demand Beckons New LNG Projects
Global LNG imports rose by 20 percent in 2017; new demand emerges across South, Southeast Asia. Soaring gas demand from China, India and Southeast Asia is sucking up an LNG supply glut previously expected to last for years, opening opportunity for new production from East Africa to North America that had been deemed part of the overhang. Trade flows in Eikon show global liquefied natural gas (LNG) imports have risen 40 percent since 2015…
Maersk, Statoil and OECD to Discuss Future Ocean Development
Key figures from Maersk Group, Statoil and the Organization for Economic Co-operation and Development have signed up to discuss future ocean business opportunities, demands and strategies at Opening Oceans Conference 2018 (OOC). The event, Nor-Shipping’s first outside its Norwegian home, will see c-level executives gather in Copenhagen on May 2nd and 3rd to examine how to responsibly realise the huge potential of the ocean…
DCC Taps Energy Boss as Next CEO
Donal Murphy to succeed Tommy Breen as CEO from July; DCC will buy Shell's LPG business in Hong Kong and Macau. Support services company DCC has picked the head of its energy division, Donal Murphy, to succeed retiring chief executive Tommy Breen from July, it said on Wednesday. The company also announced plans to buy Shell's liquid petroleum gas (LPG) business in Hong Kong and Macau for HK$1.165 billion ($150 million) including debt…
OPEC Secretary General Meets EIA, IADB Officials
OPEC Secretary General, HE Mohammad Sanusi Barkindo, met with the Administrator of the United States Energy Information Administration (EIA), Adam Sieminski, and other senior staff members, over a working breakfast on 14 December. The Secretary General briefed Mr. Sieminski and his team on the two recent OPEC Meetings, concluded on 30 November and 10 December, which culminated in the historic ‘Vienna Agreement’.
IEA's Medium-Term Renewable Energy Report
In its Medium-Term Renewable Energy Report IEA pointed out that the rapid spread of renewable energy is a bright spot in the global energy transition toward a low carbon economy. Despite lower fossil fuel prices, renewable power expanded at its fastest-ever rate in 2015 thanks to supportive government policies and sharp cost reductions. Renewables accounted for more than half of the world's additional electricity capacity last year.
SapuraKencana Nets 16% Profit
SapuraKencana Petroleum Berhad announced its third quarter results for the period ended 31 October 2015 (for financial year ending 31 January 2016). Revenue for third quarter of RM2,891 million, year-to-date revenue of RM7,952 million. Profit before tax for the quarter (excluding provisions for impairment on property, plant and equipment, oil and gas properties, investments and changes in provision) of RM463 million with a profit before tax margin of 16.0%.
Spain's Acciona Has No Plans for Energy Division
Spain's Acciona has no further plans for its energy division in the short term, director of corporate development Juan Muro Lara said on Monday during a conference call on Nordex's acquisition of its wind power business. Muro Lara also noted that a three-year lock up period agreed between Nordex and Acciona was for the Spanish company not to increase its stake in the German group in that period. (Reporting by Jose Elias Rodriguez)
Petrobras Unlikely to Finish Investment Plan by June 26
It will be "very difficult" for Brazil's state-run oil company Petroleo Brasileiro SA to finish and present its 2015-2019 investment plan to its board of directors by June 26 as originally planned, a company official said on Wednesday. Several points in the plan, which is updated annually, need be worked out before it can be submitted to the board, Hugo Repsold Junior, head of the company's gas and energy division told reporters in Rio de Janeiro.
