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Saudi Aramcos Net Income Declines 44% in Third Quarter

Saudi Aramco's Net Income Declines 44% in Third Quarter

Τρι, 3 Νοεμβρίου 2020 - 16:54

Saudi Aramco saw its net income decline by 44% in the third quarter of 2020, from the same period last year, according to the financial results statement released by the world's largest crude oil-producing firm on Tuesday

Enel Boosts its 2030 Greenhouse Gas Emission Reduction Target to 80% From 70%, SBTI-Certified

Enel Boosts its 2030 Greenhouse Gas Emission Reduction Target to 80% From 70%, SBTI-Certified

Σαβ, 31 Οκτωβρίου 2020 - 09:22

Enel committed to an 80% reduction in its direct greenhouse gas (GHG) emissions per kWh by 2030, from a 2017 base-year, becoming the first major, global, integrated utility to set an emission reduction target consistent with the United Nations pledges to limit global warming to 1.5°C above pre-industrial levels and to achieve net zero emissions by 2050, as validated by the Science Based Targets initiative (SBTi).

Renewable Companies Overtake Worlds Once Energy Giants

Renewable Companies Overtake World's Once Energy Giants

Παρ, 30 Οκτωβρίου 2020 - 18:54

The market capital of the international renewable energy companies have increased dramatically by overtaking the world's once energy giants as the financial markets started to see the risks associated with fossil fuels which trigger climate crisis in the world, Tim Buckley, director of energy finance studies at Institute for Energy Economics and Financial Analysis (IEEFA) told Anadolu Agency in an exclusive interview

North American Oil And Gas Bankruptcy Debt Has Hit An All-Time High

North American Oil And Gas Bankruptcy Debt Has Hit An All-Time High

Δευ, 26 Οκτωβρίου 2020 - 20:05

The associated debt from North American oil and gas bankruptcies in 2020 has already reached an all-time high and is set to grow even further this year as the wave of Chapter 11 filings continues, a Rystad Energy report projects, analyzing industry data from law firm Haynes and Boone. Although the combined count of Chapter 11 filings from exploration and production firms (E&Ps) and oilfield service (OFS) companies this year in North America has so far reached 84, which is still lower than the historical high of 142 in 2016, the associated debt these companies are carrying is much higher, at $89 billion so far, some $19 billion more than in 2016

North Macedonia to Shut REK Bitola Coal Plant Unit, Turn to Gas

North Macedonia to Shut REK Bitola Coal Plant Unit, Turn to Gas

Παρ, 23 Οκτωβρίου 2020 - 15:45

State-controlled power utility ESM intends to turn off the first unit of coal-fired REK Bitola within five years and convert it to natural gas, according to top officials, who vowed to phase out lignite in North Macedonia – starting with REK Oslomej

Petrobras Increases Oil Sales Despite Pandemic Crisis

Petrobras Increases Oil Sales Despite Pandemic Crisis

Παρ, 23 Οκτωβρίου 2020 - 15:37

Brazilian energy firm Petrobras expanded its oil and gas production in Brazil by 9% in the first nine months of 2020 compared to whole of last year, the company announced in a recent statement

Oil Prices Slide With US Crude Buildup Estimates

Oil Prices Slide With US Crude Buildup Estimates

Τετ, 21 Οκτωβρίου 2020 - 19:01

Oil prices slipped on Wednesday with forecasts of a buildup in US crude inventories, stoking investor fears of a fall in demand in the world's largest oil-consuming nation

50 Global Finance Corporations Quit Arctic Hydrocarbons

50 Global Finance Corporations Quit Arctic Hydrocarbons

Τρι, 20 Οκτωβρίου 2020 - 18:45

Fifty globally significant financial institutions have set a trend for global capital exiting fossil fuel projects with their decisions taken since 2017 to introduce policies restricting oil sands or oil and gas drilling in the Arctic out of which 23 announced their decisions in the first half of this year, according to a new tracker developed by the Institute for Energy Economics and Financial Analysis (IEEFA) on Tuesday

EPS Plans to Extend Lifespan of TPP Kostolac A Until 2038

EPS Plans to Extend Lifespan of TPP Kostolac A Until 2038

Παρ, 16 Οκτωβρίου 2020 - 19:17

Public power utility Elektroprivreda Srbije intends to extend the lifespan of thermal power plant Kostolac A by 15 years, until 2038, by installing flue-gas desulfurization equipment to reduce sulfur dioxide emissions below the EU limit