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Royal Dutch Shell (LSE: 0LN9.L - news) has agreed to buy German residential solar battery maker sonnen, as the oil and gas major expands its electricity business in its bid for a bigger role in the global transition to low-carbon energy. Sonnen, which has 40,000 battery systems worldwide and in 2017 had sales of 65 million euros ($73 million), is the German market leader in home storage batteries and has expanded into electric vehicle charging systems. Regulatory approval and completion of the transaction, involving Shell New Energies, was expected in the first quarter of 2019, a sonnen spokesman said, without giving a value.
Norway's Equinor ASA and a joint venture of Danish Orsted and Eversource Energy have submitted bids to supply offshore wind power to the New York State, the companies said on Thursday. New York state closed bidding https://on.ny.gov/2E54m5q on Thursday to provide 800-megawatts of offshore wind and will choose a supplier in the spring. If Equinor wins the bid, it will likely provide the power by developing a wind farm on 80,000 acres south of Long Island it won in a U.S. federal auction in 2016, with a potential capacity of up to 2 gigawatt (GW) offshore wind power.
South Africa's largest refinery, the 180,000 barrel per day Sapref plant in the east coast city of Durban will shutdown for routine maintenance from the last week of May until the end of July, a refinery ...
Royal Dutch Shell (LSE: 0LN9.L - news) , Eni (LSE: 0N9S.L - news) , BP and Exxon Mobil (Swiss: XOM-USD.SW - news) were among the winners in one of Egypt's largest ever oil and gas exploration tenders on Tuesday, as the country looks to sustain an investment upswing spurred by major discoveries. The awards marked Exxon Mobil's entry into gas exploration in Egypt, while Shell (LSE: RDSB.L - news) was handed the most concessions, three for oil and two for gas, at an annual petroleum show that Egypt has used to promote itself as a hub for gas production and trading in the Eastern Mediterranean.
Royal Dutch Shell (LSE: 0LN9.L - news) aims to increase liquefied natural gas (LNG) exports from Egypt this year as it ramps up production from a West Delta field, the company's country chairman Gasser Hanter said on Tuesday. The company shipped 12 LNG cargoes from the Idku plant last year and is "hoping for more" this year, Hanter told reporters in Cairo, adding that the West Delta Deep Marine field Phase 9B project should be completed by the end of this year. Shell (LSE: RDSB.L - news) was among companies that on Tuesday won new exploration rights in Egypt.
Egypt announced the winners of an international bid round for oil and gas exploration on Tuesday, with a total of 12 concessions awarded. The companies awarded oil exploration concessions included Royal ...
Royal Dutch Shell Plc , Brazil's private equity group Pátria Investimentos and Mitsubishi Hitachi Power Systems, on Monday said they would invest $700 million to build and operate a gas-fired power plant ...
Portuguese oil company Galp said on Monday it expects higher crude output, refining margins and efficiency gains to deliver a steep rise in 2020 and beyond as its Brazilian and Angolan operations pump up the volumes. While a relative minnow compared with oil majors such as Royal Dutch Shell (LSE: 0LN9.L - news) , BP, Total (LSE: 524773.L - news) and Exxon , Galp is a household name in Portugal, distributing gas and selling petrol via a network of branded service stations. Traditionally an oil refiner, Galp has attracted interest because of its oil and gas production growth prospects from stakes in projects in Brazil, Angola and Mozambique and China's Sinopec (HKSE: 0386-OL.HK - news) owns a 30 percent in its Brazilian assets.
The following FTSE 100 companies will go ex-dividend on Thursday, after which investors will no longer qualify for the latest dividend payout. According to Reuters' calculations at current market prices, ...
Gas production at the Groningen field in the north of the Netherlands is falling faster than planned, the Dutch government said on Friday. Output at the field will fall to 15.9 billion cubic metres (bcm) in the year ending October 2020, the government said, which is 1.5 bcm lower than originally planned. The Dutch government last year said it would end production by 2030 and lower it as quickly as possible in coming years, as decades of extraction have led to a series of damaging earthquakes in the region.
* Royal Dutch Shell bought stakes and options in gas licenses in the southern British North Sea estimated to contain a total of 190 million barrels of oil equivalent from Cluff Natural Resources, Cluff ...
Chevron Corp plans to set greenhouse gas emissions targets and tie executive compensation and rank-and-file bonuses to the reductions, the oil major said in its latest climate report released on Thursday. The move is a first for a U.S. oil major and focuses on the company's oil fields. More investors have been pressuring San Ramon, Calif.-based Chevron (Euronext: CHTEX.NX - news) and other big oil companies to reduce emissions that contribute to climate change.
OSLO/LONDON, Feb 6 (Reuters) - Equinor on Wednesday reported a smaller-than-expected rise in fourth-quarter earnings and said output would be stagnant in 2019, sending the oil and gas company's shares down despite a dividend increase and a brighter long-term outlook. A fall in oil prices, higher exploration spending, plus lower fourth-quarter refinery and products trading margins affected Equinor's earnings negatively, the company said. Equinor expects production in 2019 to remain broadly unchanged from last year's record output, despite plans to start its Johan Sverdrup oilfield in the North Sea in November as planned, it added.
BP said it more than doubled annual profits to $12.7bn (£9.7bn) last year - as it ramped up oil and gas output after buying US fracking assets. The oil giant also shrugged off a recent fall in oil prices ...
BP has agreed to broaden its disclosure on greenhouse gas emissions to show how it thinks future investments in oil and gas align with U.N.-backed climate goals, it said on Friday. Following talks with a large group of investors, BP also agreed to back a shareholder resolution on the measures at its annual general meeting (AGM), further evidence of the way the energy industry and investors are engaging on climate issues. The agreement with a group of investors with $32 trillion under management, known as Climate Action 100+, comes weeks after rival Royal Dutch Shell (LSE: 0LN9.L - news) agreed to introduce broad carbon emissions targets linked to executive pay.
The United Steelworkers union (USW) and Shell Oil Co reached a tentative agreement on Thursday that sources familiar with the deal said would boost pay by 11 percent over three years for 30,000 U.S. refinery, chemical plant and pipeline workers. Workers represented by the USW will receive a 3.5 percent pay raise in each of the first two years of the deal and a 4 percent raise in the final year, the sources said. The agreement between the union and Shell (LSE: RDSB.L - news) came about nine hours before the current contract was to expire at 12:01 a.m. on Friday.
Royal Dutch Shell (LSE: 0LN9.L - news) said on Thursday that crude trading boosted its fourth quarter profits to a four-year high even as oil prices collapsed. Shell (LSE: RDSB.L - news) is the world's largest oil trader, buying an selling over 10 million barrels a day. The trading operations often help oil producers offset large swings in oil prices and in some cases can generate large profits.
Iraq's Basra Oil Co has agreed a deal with state-run Iraq Drilling Co to drill 40 new oil wells in the giant southern Majnoon field, the Oil Ministry said on Thursday. The deal will help boost output from ...
Gas production at the Groningen field in the Netherlands can continue as planned this year, the Dutch High Court said on Thursday, dismissing calls by angry citizens for an immediate halt due to earthquake risks. The court, issuing a preliminary ruling, said it would reach a final verdict on production plans after it had heard 26 other complaints from local authorities and interest groups in April. Decades of extraction in Groningen, once Europe's largest natural gas field, have led to dozens of minor tremors every year, damaging thousands of homes, sparking unrest among locals and prompting authorities to impose caps on activity.
The United Steelworkers union on Wednesday rejected the first offer from Shell Oil Co in talks for a new national agreement covering 30,000 U.S. refinery, chemical plant and pipeline workers, according to three sources familiar with the talks. The current national agreement for refinery workers begins expiring shortly after 12 a.m. local time on Friday. The union and the U.S. arm of Royal Dutch Shell Plc (LSE: 0LN9.L - news) , which is representing oil companies, have been meeting since Jan. 16 to hammer out a new pact.
A company proposal to change who would assign daily work has stymied negotiations for a new contract at Valero Energy Corp's Port Arthur, Texas, refinery, said sources familiar with the talks. The dispute between negotiators for the company and United (Shenzhen: 000925.SZ - news) Steelworkers union local 13-423 has moved off from the bargaining table as Valero sent emails to refinery employees two weeks ago and, in response, the union conducted membership meetings, the sources said. Valero has proposed the new contract allow salaried supervisors to assign daily jobs, taking that authority away from head operators, hourly workers who have for decades made the assignments, the sources said.
The United Steelworkers union (USW) warned on Tuesday that time was running out to reach a new national agreement for U.S. refinery and chemical plant workers before the current pact expires on Friday, sources familiar with the talks said. The USW and Shell Oil Co, the U.S. arm of Royal Dutch Shell (LSE: 0LN9.L - news) Plc, have been in talks since Jan. 16 for an accord on wages, benefits and safety covering 30,000 refinery, chemical plant and pipeline workers.
Mexican national oil company Pemex will oversee the process to pick the company that will build a new multibillion-dollar oil refinery in the southern Gulf Coast state of Tabasco, Energy Minister Rocio Nahle said on Tuesday. President Andres Manuel Lopez Obrador has pledged to fast-track the construction of the new refinery in Dos Bocas, Tabasco, to boost lagging domestic production of gasoline and diesel, and wean the country from a growing dependence on imported fuels. Pemex's recently approved 2019 budget allocates almost $2.5 billion for the refinery, which aims to be able to process 340,000 barrels per day (bpd) of heavy crude.
The United Steelworkers union warned on Tuesday that time was running out to reach a new national agreement for U.S. refinery and chemical plant workers before the current pact expires on Friday, sources ...
The United Steelworkers union (USW) said on Friday Shell Oil Co is delaying progress on important issues in negotiations for a new national agreement covering 30,000 U.S. refinery and chemical workers, according to sources familiar with the talks. Shell (LSE: RDSB.L - news) spokesman Ray Fisher declined to discuss specifics about negotiations. Shell, the U.S. arm of Royal Dutch Shell Plc (LSE: 0LN9.L - news) , is the lead negotiator for refinery, petrochemical and pipeline companies in talks to replace the current contract that expires on Feb. 1.