Danish offshore wind farm developer Orsted A/S has completed the divestment of 50% of the Hornsea 1 Offshore Wind Farm to Global Infrastructure Partners (GIP).Three months ago, Ørsted signed an agreement to sell 50% of the 1,218MW offshore wind farm Hornsea 1 to Global Infrastructure Partners (GIP)…
Norway's DNO has launched a hostile bid to buy all of Faroe Petroleum in a deal valuing the London-listed company at around 608 million pounds ($781 million), sending Faroe shares up by a quarter.DNO, which already owns 28 percent of Aberdeen-based Faroe…
BP Southern Africa (BPSA) will invest $1 billion in South Africa in the next five years with more than a quarter of that set aside to upgrade the SAPREF refinery to produce lower sulphur diesel, its chief executive said on Thursday.The 180,00 barrels per day SAPREF refinery…
Royal Dutch Shell's Shell Australia said Wednesday it entered into a sales agreement with Timor-Leste to sell the government a 26.56% interest in the Greater Sunrise fields for $300 million.The Greater Sunrise fields, comprised of the Sunrise and Troubadour gas and condensate fields…
Oil prices rose almost $2 a barrel on Wednesday, bouncing from the lowest levels in months, after U.S. government data showed strong demand for refined fuel, but concerns remained over rising global crude supply.Brent crude futures gained $1…
Spanish energy group Endesa plans to raise investment in renewables over the next three years and slightly lower the proportion of its profit it will pay in future dividends, the company said on Wednesday.In an update to its strategic plan, Endesa laid out proposals for 5 billion euros ($5…
Britain's energy regulator Ofgem has proposed financial and customer service tests for new suppliers after several smaller energy providers went bankrupt over the last year, it said on Wednesday.Ofgem said the tests should ensure new entrants are robust while encouraging competition in the market…
U.S. President Donald Trump on Wednesday praised Saudi Arabia over recent oil prices and called for prices to go even lower, likening it to 'a big tax cut' that could boost the U.S. and global economies.'Oil prices getting lower. Great! Like a big Tax Cut for America and the World…
Oil prices tumbled about 7 percent on Tuesday, with U.S. crude plunging to its lowest level in more than a year, caught in a broader Wall Street selloff that was fed by rising concerns about slowing global economic growth.U.S. West Texas Intermediate (WTI) crude futures were down $3…
Oil markets are entering an unprecedented period of uncertainty due to geopolitical instability and a fragile global economy, the head of the International Energy Agency said on Tuesday.Concerned about an emerging production overhang similar to the one that led to a price slump in 2014…
North Sea Forties crude differentials fell to a three-year low on Monday, pressured by ample prompt supplies and limited demand.Ekofisk DelaysSome Ekofisk cargoes for loading in November have been delayed by a few days because of unplanned maintenance…
Malaysian state oil firm Petronas has set the price factor for Malaysian Crude Oil (MCO) for November at $5.00 per barrel, up $0.65 from the previous month, the company said on Monday.The monthly price factor is added to the average of Platts'…
CEFC paid almost 225 million euros ($257 million) in compensation to a consortium of Qatar Investment Authority and Glencore after the Chinese firm's deal to buy a stake in Russian oil firm Rosneft fell through, a document showed.The chief executive of Rosneft…
Nigerian opposition candidate Atiku Abubakar will seek to boost investment in the country's oil sector if he becomes president next year, according to a draft copy of his manifesto.He plans to reconsider the introduction of bidding rounds for marginal fields and oil blocks…
Israel's Delek Drilling is looking to spin off its remaining 22 percent stake in the offshore Tamar gas field in 2019, the company's chief executive said on Monday.Last year Delek spun off an initial 9.25 percent of Tamar into a new company in Tel Aviv called Tamar Petroleum…
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