The clean energy funds financing the future
Transforming the global energy system is going to take mammoth investments on three fronts - time, effort, and perhaps most important of all, money.
Markets
Ithaca Energy buys Summit Exploration’s North Sea business for $224m
Ithaca Energy has struck a deal to acquire North Sea player Summit Exploration and Production for $224 million (£170.5m).
Aker Offshore Wind and Aker Horizons in merger
Aker Offshore Wind and Aker Horizons have announced an all-stock merger as part of a wider reorganisation to get after energy transition opportunities.
Firm seeks to sell North Sea discoveries ‘left behind’ by ConocoPhillips
An outfit of North Sea experts is seeking to sell off discoveries which it says ConocoPhillips should “never have relinquished”.
BP seeks sale of Foinaven field in West of Shetland
BP is seeking to sell its beleaguered Foinaven field in the west of Shetland, according to a news report.
Oil has wildest week on record with markets jolted by war
Oil resumed climbing at the end of a week where prices have swung within a $20 range since Russia’s invasion of Ukraine roiled global markets and fueled fears of a supply crunch.
Scottish Government urges businesses: Stop trading with Russia
Businesses in Scotland are being urged to withdraw from trading with Russia, following its invasion of Ukraine.
2,000 workers to transfer as Sparrows Group bought by Altrad
Aberdeen-headquartered Sparrows Group is being bought by industrial services giant Altrad.
China among the leading contenders to snap up BP’s stake in oil company Rosneft
There is general consensus amongst analysts that oil giant BP will face an uphill struggle to find a buyer for its stake in Rosneft.
Abrdn faces challenges in sale of Rosneft stake
Asset management group Abrdn has been unable to sell its minor stake in Russian state-backed oil and gas giant Rosneft.
Wood takes $100 million hit from legacy Aegis Poland contract
Wood (LON: WG) expects to take a one-time $100 million charge in relation to a legacy Amec Foster Wheeler defence contract, Aegis Poland.
Aker BP is looking to buy more assets in Norway’s oil and gas sector
Aker BP is actively looking to purchase more assets or companies operating in Norway’s lucrative oil and gas sector, according to Oyvind Eriksen, chief executive of the firm’s parent company.
Eni adds six banks for IPO of $11 billion renewables unit
Eni has picked six more banks to work on the initial public offering (IPO) of its retail and renewables unit Plenitude, which could be valued at about 10 billion euros ($11.3 billion), according to people familiar with the matter.
Vitol CEO sees oil above $100 for a ‘prolonged period’ this year
Oil prices could be set for a “prolonged period” above $100 a barrel over the next six to nine months, with the world setting fresh demand records this year, said Vitol Group chief executive Russell Hardy.
‘Uptick’ in North Sea IPOs forecast with high oil and gas prices on course to continue
North Sea initial public offerings (IPOs) could be back on the menu with healthy oil and gas prices tipped to continue for much of 2022.
World’s most-important oil price tops $100, signals more to come
Forget the futures market, the world’s most important oil price just smashed through $100 a barrel with every sign it is going to push higher.
Oil markets react to Russian de-escalation, but relief seems temporary, says Rystad
Global oil markets are reacting to news from Eastern Europe that Russia has retracted troops from the Ukrainian border. However, price relief may be short-lived as bullish factors remain, reckons consultancy Rystad Energy.
Oil drops after Russia says some troops returning to bases
Oil fell after Russia said some troops are starting to return to their permanent bases, easing geopolitical tensions that have rallied prices.
Waldorf in talks for $1bn deal for ONE-Dyas oil and gas assets
North Sea focused Waldorf Production has started exclusive talks to buy the assets of Dutch oil and gas company ONE-Dyas BV, according to people familiar with the matter.
Oil prices at $100 a barrel? What else is on the horizon for the energy sector in 2022
In this latest in our series on ESG investing, Mike Scott assesses the global energy outlook ahead for 2022. Although oil and gas prices are healthy, energy firms will need to stay focused on net zero and emissions targets, and keep an eye on growth areas like hydrogen and other renewable energy sources.
Oil extends eight-week rally on intensifying Ukraine tensions
Oil surged at the start of the week as the possibility of war in Ukraine fanned demand, with the US benchmark nearing $95 a barrel.
‘Push on and do more’: Serica Energy looks to next level of North Sea investment
“A really opportune moment” beckons for Serica Energy, according to chief executive Mitch Flegg, with gas prices strong, new production online and, since the turn of the year, reaching a major milestone for its North Sea business.
Oil steadies as US stockpiles drop with focus on Iran progress
Oil was steady in Asian trading after a surprise decline in US crude inventories tightened the market further amid signs of strong demand in the world’s biggest economy.
Oil edges higher after report points to falling US stockpiles
Oil edged higher after a two-day decline as an industry report pointed to shrinking US crude and gasoline stockpiles.
ADNOC mulls green bond as Gulf firms seek ESG funds
Abu Dhabi’s state oil producer ADNOC is considering the sale of a green bond for the first time, according to people with knowledge of the matter, as companies and governments in the Persian Gulf increasingly look to tap investors in sustainable assets.