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US Energy Agency Revises Down Crude Oil Price Forecasts for 2024

US Energy Agency Revises Down Crude Oil Price Forecasts for 2024

Τετ, 7 Αυγούστου 2024 - 19:51

The US Energy Information Administration (EIA) revised down its forecast for crude oil prices. In its Short-Term Energy Outlook (STEO) released on Tuesday, the agency continues to expect crude oil prices will rise in the second half of 2024 despite recent fall in crude oil prices

Molgas Launches Greeces First LNG station in Thessaloniki

Molgas Launches Greece's First LNG station in Thessaloniki

Πεμ, 1 Αυγούστου 2024 - 16:02

Spanish gas company Molgas has inaugurated Greece's first LCNG station, offering LNG and compressed natural gas (CNG) for vehicles in Thessaloniki, the company announced on July 29 via a LinkedIn post

Shell Q2 Profit Slides to $6.3 Bln on Weaker Trading

Shell Q2 Profit Slides to $6.3 Bln on Weaker Trading

Πεμ, 1 Αυγούστου 2024 - 15:58

Shell reported second-quarter profit of $6.3 billion, a drop of 19% from the previous three months, as refining margins and oil and gas trading weakened, though still beating analysts' forecasts

BP Scales Back Biofuels Projects, Focuses on High Oil Demand into the 2040s

BP Scales Back Biofuels Projects, Focuses on High Oil Demand into the 2040s

Τετ, 31 Ιουλίου 2024 - 15:24

BP reported a stronger-than-expected net profit for the second quarter, beating analyst expectations. The energy firm announced a 10% increase to its dividend and hiked its share buyback program to the fourth quarter. BP's low carbon and gas division performed poorly in these results, sliding to a loss of $0.1bn

EU Corruption Probe Targets Chinese LNG Project in Cyprus

EU Corruption Probe Targets Chinese LNG Project in Cyprus

Τετ, 31 Ιουλίου 2024 - 14:51

The EU is seeking to claw back up to €100mn from the Cypriot government after a Chinese-led consortium abandoned a gas import terminal project that is now being investigated for corruption. In 2018 the Cypriot government awarded the €542mn contract for the construction of the Vasilikos liquefied natural gas terminal to a consortium comprising China Petroleum Pipeline (CPP), Hudong-Zhonghua Shipbuilding, Norway’s Wilhelmsen Ship Management and the UK’s Metron

Bosnias Hidroelektrane na Vrbasu Net Profit Down 37% y/y in H1

Bosnia's Hidroelektrane na Vrbasu Net Profit Down 37% y/y in H1

Παρ, 26 Ιουλίου 2024 - 16:04

Bosnian hydro power producer Hidroelektrane na Vrbasu [BANJ:HELV-R-A] said on Friday its net profit decreased 36.8% year-on-year to 2.8 million marka ($1.6 million/1.4 million euro) in the first half of the year

Abu Dhabi’s Masdar Beats Apollo to Spanish Solar Farm Deal

Abu Dhabi’s Masdar Beats Apollo to Spanish Solar Farm Deal

Παρ, 26 Ιουλίου 2024 - 16:02

Abu Dhabi’s ambitious green energy group Masdar has outbid US asset manager Apollo to win a second major deal in Europe in as many months as the region’s cash-strapped utilities search for ways to fund their renewable projects