Energy Update
LISBON, May 5 (Reuters) - EDP-Energias de Portugal
expects its net profit to grow by 4 percent a year through 2020
thanks to capacity additions at its wind energy division and a
gentle market recovery, the company said on Thursday.
CAIRO, May 5 (Reuters) - Egypt's EFG-Hermes is planning to
increase the investments it manages in renewable energy to 1.5-2
billion euros in the next two years from 730 million currently,
said Bakr Abdel-Wahab, its managing director of infrastructure
private equity.
MADRID, May 5 (Reuters) - Spanish oil company Repsol
reported better than expected first-quarter net profit
on Thursday helped by lower exploration and production costs and
a solid performance at its refining business despite lower oil
prices.
DUBAI, May 5 (Reuters) - The National Shipping Company of
Saudi Arabia has signed a 700 million riyal ($186.7
million) loan to partly-finance the purchase of three very large
crude carriers (VLCCs), the company known as Bahri said in a
bourse filing on Thursday.
RIYADH, May 4 (Reuters) - Saudi Deputy Crown Prince Mohammed
bin Salman got a standing ovation when he visited a gathering of
Saudi youth last month. Last week, after hearing about his
economic plans in a meeting with religious leaders, one of the
kingdom's most conservative sheikhs tweeted a smiling selfie of
himself with the prince.
(Thu, 05 May 2016) For decades, hydraulic fracturing had been referred to as an unconventional completion technique, but over the past 10 years it has become the technique by which most natural gas is produced in the United States. Based on the most recent available data from states, EIA estimates that natural gas production from hydraulically fractured wells now makes up about two-thirds of total U.S. marketed gas production.
SHANGHAI, May 5 (Reuters) - A Chinese solar equipment firm,
Baoding Tianwei Yingli New Energy Resources Co Ltd, said it may
be miss payment on a 1.4 billion yuan ($215.2 million) five-year
note maturing on May 12.
LONDON, May 4 (Reuters) - The warmest winter for more than
30 years reduced fuel oil demand drastically in the United
States in 2015/16 and left the country heavily oversupplied with
heating oil.
FRANKFURT, May 4 (Reuters) - Germany is considering lobbying
for a minimum price to be set on Europe-wide avoidance of carbon
dioxide emissions to boost the effectiveness of carbon schemes
that have so far failed to cut CO2 and battle climate change, a
draft document outlining the nation's energy and climate policy
shows.
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