Norway’s Equinor posted on Thursday a net loss of $2.12 billion in the third quarter of 2020, hit by weak hydrocarbon prices but, mostly, impairment charges due to reduced future price assumptions. The company’s net income was 92% lower than the same period last year at $1.11 billion, as it recorded impairment charges of $2.93
Read More...Russia’s largest independent gas producer, Novatek, saw its production rise 4.5% year-on-year during the third quarter of 2020, despite a slight decline in total sales volumes, Kallanish Energy reports. The company said in its Q3 results that total gas production reached 19.13 billion cubic meters (Bcm) in the July-September quarter, up from 18.31 Bcm a
Read More...Europe’s electric vehicles (EVs) market share is set to treble this year to 10%, despite the Covid-19 pandemic, Kallanish Energy reports. According to a new analysis by Transport & Environment (T&E), that’s because of the EU 2020/21 car CO2 emission standards. The legislation forces carmakers to meet targets to reduce the average emissions of the
Read More...Equinor said on Monday it has shutdown four oil and gas fields in the Norwegian Continental Shelf due to an ongoing strike by workers from the Lederne trade union. The “controlled closure” of the fields Gudrun, Gina Krog, Kvitebjørn and Valemon comes after 54 members of the trade union stage an offshore walkout. Production at
Read More...ExxonMobil said Monday it will cut up to 1,600 jobs in its European affiliates by the end of 2021, Kallanish Energy reports. The move is part of a global review aimed at improving efficiency and reducing costs, through reorganizations and work-processes changes. But reflects the increased “urgency” in ongoing efficiency work due to the demand
Read More...French energy company Engie appointed on Monday Catherine MacGregor as its new chief executive officer, effective January 1, 2021, Kallanish Energy reports. MacGregor’s “industrial and international track record” will contribute towards the achievement of its strategic objectives that were laid out in July this year, Engie said in a statement. This strategy included a refocus
Read More...Azerbaijan’s state oil and gas company, SOCAR, said on Monday it has become the main natural gas supplier to Turkey, Kallanish Energy reports. “If a year ago Azerbaijani gas occupied the 4th-5th place in the Turkish market, now we are in the first place, which is very important for us and for Turkey, because gas
Read More...French supermajor Total said Tuesday it’s starting a “new phase” with the purchase of London’s largest electric vehicle charging network, Kallanish Energy reports. Under the undisclosed deal, Total is acquiring the “Blue Point London” from the Bolloré Group, with over 1,600 on-street charger points. The network will be powered by 100% renewable electricity, supplied by
Read More...German wind power association WAB and Scottish wind consortium DeepWind have signed a three-year cooperation agreement to develop a market for green hydrogen from wind power. The parties said in a joint statement on Wednesday that the aim is to promote the offshore wind industry and the production of green hydrogen at sea transnationally. The
Read More...Biomethane can help decarbonize Europe’s gas markets, but continued growth depends on policy support, Wood Mackenzie said this week. According to analysts Graham Freedman and Nnenna Amobi, the carbon-neutral renewable gas can be directly injected into existing natural gas infrastructure and decarbonize the heating and transport sectors. That’s because biomethane is a purified form of
Read More...Spanish utilities Iberdrola will create a dedicated green hydrogen business unit, as it aims to become a global leader in the technology, Kallanish Energy reports. CEO Ignacio Galán said in a speech during the New York Climate Week, which took place alongside the UN General Assembly, that the company will produce hydrogen from 100% renewable
Read More...French energy major Total announced on Thursday it will convert its Grandpuits crude oil refinery to produce renewable diesel and bioplastics, Kallanish Energy reports. Killing two birds with one stone, Total will shut down its crude refinery after a structural problem with a key pipeline reduced its operational rate to 70% of capacity. To resume
Read More...German wind turbine manufacturer Nordex has secured a contract to supply turbines to a wind farm located in Texas, U.S., Kallanish Energy reports. Under the terms of the agreement, announced on Friday, will see Nordex deliver and install 65 N149/4.0-4.5 wind turbines in the 4.8 megawatt (MW) operating mode, for a total capacity of 312
Read More...The use of renewables for electricity generation rose 32% year-on-year during second quarter according to a new report, Kallanish Energy reports. The Drax Electrical Insights Q2 report, published on Monday by UK power generator Drax and compiled from analysis by Imperial Consultants, found that the share of renewables in the UK energy mix increased to
Read More...Polish oil and gas company PGNiG has expanded its hydrogen development project through a new partnership with Toyota Motor Poland, Kallanish Energy reports. The two companies will cooperate on the advancement of hydrogen technologies in Poland, including the construction of a new pilot hydrogen refuelling station. PGNiG’s hydrogen research programme, which was launched in May
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