Royal Dutch Shell is betting on its expertise in power trading and rapid growth in hydrogen and biofuels markets as it shifts away from oil, rather than joining rivals in a scramble for renewable power assets, company sources said. […]
OSLO: The Norwegian seas could accommodate 40 gigawatts (GW) of offshore wind capacity by 2050, or 10% of Europe-wide targets, but this requires government support, an alliance of Norwegian oil and renewable energy firms, said on Tuesday. […]
BEIJING: China is expected to use 6-7% more electricity in 2021 than last year, the China Electricity Council (CEC) forecast on Tuesday, despite concerns over a new coronavirus outbreak disrupting industrial activity. China, the world’s […]
Paris: France on Monday urged Germany to scrap a major gas pipeline project with Russia in protest over the detention in Moscow of opposition leader Alexei Navalny, but the plea fell on deaf ears in Berlin. “We have always […]
Oil shipments from OPEC’s Persian Gulf producers slipped last month, even as output restrictions were eased and production volumes increased. Combined shipments of crude and condensate — a light form of oil extracted from gas fields — from Saudi […]
Coal is on track to disappear from the U.S. power grid by 2033 as the push for a carbon-free electricity system gains strength, according to Morgan Stanley. The fossil fuel will be supplanted largely by renewables, […]
Highlights Earnings per diluted share was $1.71 for the three months ended December 31, 2020. Consolidated net income was $217.7 million for the three months ended December 31, 2020. Capital expenditures totaled $456.8 million for […]
Summit Midstream Partners, LP (NYSE: SMLP) (the “Partnership” or “SMLP”) announced today that its wholly-owned, indirect subsidiary, Summit Permian Transmission, LLC, has received $175 million of commitments from three leading commercial banks to finance the development of its […]
TULSA, Okla. – Magellan Midstream Partners, L.P. (NYSE: MMP) today reported net income of $183.9 million for fourth quarter 2020 compared to $286.4 million for fourth quarter 2019. The decrease in fourth-quarter 2020 net income […]
Reported fourth-quarter income of $192 million, or $0.29 per diluted share, which includes net pre-tax benefits of $851 million; reported adjusted loss of $608 million, or ($0.94) per diluted share $21 billion Speedway sale targeted to close by end of first quarter; reiterating commitment […]
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