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BP Scales Back Biofuels Projects, Focuses on High Oil Demand into the 2040s

BP Scales Back Biofuels Projects, Focuses on High Oil Demand into the 2040s

Τετ, 31 Ιουλίου 2024 - 15:24

BP reported a stronger-than-expected net profit for the second quarter, beating analyst expectations. The energy firm announced a 10% increase to its dividend and hiked its share buyback program to the fourth quarter. BP's low carbon and gas division performed poorly in these results, sliding to a loss of $0.1bn

EU Corruption Probe Targets Chinese LNG Project in Cyprus

EU Corruption Probe Targets Chinese LNG Project in Cyprus

Τετ, 31 Ιουλίου 2024 - 14:51

The EU is seeking to claw back up to €100mn from the Cypriot government after a Chinese-led consortium abandoned a gas import terminal project that is now being investigated for corruption. In 2018 the Cypriot government awarded the €542mn contract for the construction of the Vasilikos liquefied natural gas terminal to a consortium comprising China Petroleum Pipeline (CPP), Hudong-Zhonghua Shipbuilding, Norway’s Wilhelmsen Ship Management and the UK’s Metron

Bosnias Hidroelektrane na Vrbasu Net Profit Down 37% y/y in H1

Bosnia's Hidroelektrane na Vrbasu Net Profit Down 37% y/y in H1

Παρ, 26 Ιουλίου 2024 - 16:04

Bosnian hydro power producer Hidroelektrane na Vrbasu [BANJ:HELV-R-A] said on Friday its net profit decreased 36.8% year-on-year to 2.8 million marka ($1.6 million/1.4 million euro) in the first half of the year

Abu Dhabi’s Masdar Beats Apollo to Spanish Solar Farm Deal

Abu Dhabi’s Masdar Beats Apollo to Spanish Solar Farm Deal

Παρ, 26 Ιουλίου 2024 - 16:02

Abu Dhabi’s ambitious green energy group Masdar has outbid US asset manager Apollo to win a second major deal in Europe in as many months as the region’s cash-strapped utilities search for ways to fund their renewable projects

Western Balkans Can Leapfrog Gas for Solar, Wind for Energy Transition: Report

Western Balkans Can Leapfrog Gas for Solar, Wind for Energy Transition: Report

Δευ, 22 Ιουλίου 2024 - 15:07

Western Balkan countries have the potential to generate four times more electricity from solar and wind projects than from gas-fired plants, saving at least €9 billion in energy costs and reducing carbon emissions, a new report by the US think tank Global Energy Monitor (GEM) revealed on Tuesday

China Pulls out of Cyprus’ First LNG Import Terminal Under Cash Crunch

China Pulls out of Cyprus’ First LNG Import Terminal Under Cash Crunch

Παρ, 19 Ιουλίου 2024 - 18:38

China-based CPP-Metron Consortium has pulled out of a contract with the government of Cyprus for the construction of what was to be the island’s first natural gas import terminal, claiming non-payment by the government, the Associated Press reported on Thursday

Why Chinese Technology Set Off Alarm Bells in Germany

Why Chinese Technology Set Off Alarm Bells in Germany

Πεμ, 18 Ιουλίου 2024 - 18:38

Even as the German government moves to bar components made by China's Huawei and ZTE from core parts of the country's 5G networks, some German companies are looking to work with Chinese firms in other critical areas