At over $8billion, big company corporate venture capital investment (CVC) in clean energy start-ups ran at a record high last year.
One of my old friends, a Norwegian by the name of Reidar Niemi who ran Stolt Nielsen’s subsea business in Aberdeen in the early 80s once asked me “what the hell is the matter with your (expletive deleted) Scottish banks?”.
A massive $20 billion deal with the US and Japan will kick-start Indonesia’s drive to wean itself off coal power, though the country may still need trillions more to reach net-zero emissions while meeting growing demand for energy.
Vietnam is set to follow Indonesia and South Africa with a climate financing package of at least $11 billion to shift its economy away from coal and boost the rollout of renewable energy sources.
Japan will withdraw financing for key coal-fired power plant projects in Bangladesh and Indonesia under efforts aimed at accelerating a global phase-out of the dirtiest fossil fuel.
Aftermath of COP26 questions future of fossil fuels finance and what’s next for renewable energy investing
The COP26 climate conference in Glasgow should have made uncomfortable viewing for fossil fuel executives.
The China-based Asian Infrastructure Investment Bank (AIIB) and the International Renewable Energy Agency (IRENA) have signed a memorandum of understanding committing to work together to support Asia’s energy transition and mobilise greater private capital for renewable energy. Significantly, the AIIB has been viewed in some quarters as a potential rival to the World Bank and IMF.
Four independent non-executive directors of Serba Dinamik have resigned, citing differences of opinion over the Malaysian oil and gas services company’s decision to take legal action against its former external auditor, KPMG.
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Malaysian national oil company (NOC) Petronas has raised $3 billion through a dual-tranche bond offering.
An oil and gas banking expert said today that capital is still available to the sector, but with green tinge.
Indonesia’s national oil company (NOC) Pertamina is preparing to take at least one of its business units public during the second-half 2021.
The owner of UK North Sea oil firm Ithaca Energy has been granted a temporary injunction against a lender who demanded the immediate repayment of a £46 million loan.
A US judge overseeing the bankruptcy of Linn Energy said he is prepared to confirm its restructuring plan but with slight tweaks.
Hess has reported a loss of $4.89billion in its fourth quarter.
Tower Resources has completed the sale of its subsidiary Comet Petroleum Limited.
Nostra Terra said it has been given a cash boost for the sale of its interest in the Chisholm Trail prospect.
Oil major Chevron said its budget for next year will see a reduction of 42% from 2015 and is expected to be at least 15% lower than projected investments for 2016.
The UK’s blue-chip index plunged on opening as Donald Trump’s victory in the US presidential election spooked markets, before paring back losses.
Dong Energy said earnings increased by 7% in its third quarter results driven by a 19% increase in wind power.
OPEC raised its forecast for global oil demand next year and through the end of the decade, anticipating that cheaper crude will spur consumption even as economic growth slows.
Oil major Shell has revealed it has made 1,000 job losses from its North Sea operation since the global decline in oil price.
Royal Dutch Shell Plc’s biggest takeover, the subject of intense investor scrutiny during crude’s collapse, is starting to pay off as Europe’s largest oil company chalks up its highest profit in five quarters.
Oil major BP is expected to report its profits have more than halved when it published its third quarter results this week.
Eni has stuck to its targets despite revealing a worse-than-expected loss in the third quarter of this year.