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Equinor Names New Chief Executive
Anders Opedal has been named as Equinor’s new president and chief executive, with a vow to accelerate the company’s growth in renewables.
Saudi Arabia
Saudi Aramco Profit Collapses But Oil Giant Retains $75bn Dividend
State oil giant Saudi Aramco saw profit collapse nearly 75 per cent in the second quarter as the coronavirus pandemic decimated oil prices around the world.
Coal Mine
Deutsche Bank to End Lending for Coal Mining by 2025
Would not finance projects in the oil and gas sector that use hydraulic fracturing in countries with scarce water supplies, new projects in the Arctic region, a…
Oil Price
Saudi Aramco Profit Drops 50% for First Half of the Year as Pandemic Batters Oil Price
Oil giant Saudi Aramco reported a 50% fall in net income for the first half of its financial year, reflecting a devastating year for oil markets and the global …
Swedish Energy Agency Allocates $3.5M in Latest Marine Energy Call
The Swedish Energy Agency has recently opened a call for the development of cost-effective and sustainable marine energy systems.
Cyprus
EU Banks Support Natural Gas Adoption in Cyprus
The Natural Gas Infrastructure Company of Cyprus has secured a €80 million loan from the European Bank for Reconstruction and Development.
United Arab Emirates
Abu Dhabi Plans to Construct New Projects in Energy Sector
Awaidha Murshed Al Marar, Chairman, Abu Dhabi Department of Energy (DoE), has said that encouraging investment in the energy sector is one of the department's s…
United Kingdom
BP Cuts Dividend for First Time in a Decade After Record Loss
The dive into the red came after the firm slashed the value of its oil and gas exploration assets in response to price forecasts.
United States
Chevron Posts Massive $8.3 Billion Loss
U.S. oil major Chevron hit the red hard as it reported a massive loss of $8.3 billion, or almost $4.5 per diluted share, for the second quarter of 2020.
Electricity Transmission
Brazil's State-Owned Eletrobras to Invest $1 Billion a year Through 2035
Brazilian state-owned power company Eletrobras plans to invest 6 billion reais per year until 2035 expanding its power generation and transmission.
Germany
EnBW Soars on Stellar Renewables Return
EnBW banked adjusted earnings before interest, tax, depreciation and amortisation of €426m from its renewables division for the first six months of 2020
Spain
Air Liquide’s First Renewables Deal in Europe to Power Spanish Operations
Global energy company Air Liquide has signed its first renewable power purchase agreement in Europe.
Russian Federation
Trump Says He Does not Understand why US should Defend Germany from Russia
US President Donald Trump said he does not understand why the US should defend Germany from Russia.
France
Schneider Electric Expects Lower Annual Revenue, Margin on Virus Uncertainties
Schneider had previously forecast organic revenue growth and a higher core profit margin for the year, but scrapped this in March due to the pandemic
Energy Investment
Tokyo Gas to Spend $657 mln in U.S. Shale, Solar Assets
Tokyo Gas will also pay up to 49 billion yen to purchase the 630 megawatts Aktina solar power project in Texas from Hecate Energy, a U.S. renewable energy devel…
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