Energy Update
(Wed, 17 Jun 2015) First-quarter 2015 financial results for globally integrated oil companies show that total earnings were $22 billion (54%) lower than first-quarter 2014. Lower crude oil prices contributed to a decline in profits in the upstream sector of $28 billion (80%) compared to first-quarter 2014.
Neste has resumed operations at the Porvoo refinery lcoated in Finland, following scheduled maintenance turnaround.
June 16 (Reuters) - Norway's Statoil ASA is "weeks away" from reaching a deal with the government of Newfoundland and Labrador to develop the company's 600 million-barrel Bay du Nord oil discovery off the Canadian province's Atlantic coast, the province's premier said on Tuesday.
WASHINGTON, June 16 (Reuters) - The White House has secured more than $4 billion to boost clean energy and fight climate change from foundations, institutional investors and philanthropies, doubling a goal set in February, administration officials said.
ATHENS, June 16 (Reuters) - Greece's dominant power utility PPC on Tuesday offered households and businesses a repayment scheme for 1.9 billion euros ($2.1 billion) of overdue bills accumulated over years as recession and record unemployment squeeze incomes and industry.
June 16 (Reuters) - Sempra Energy, an energy services holding company, said its board authorized the formation of a publicly traded master limited partnership (MLP) to hold assets producing MLP-qualifying income.
RIO DE JANEIRO, June 16 (Reuters) - Brazil's state-run oil company Petrobras will likely delay details of major cuts to its $221 billion five-year spending plan until July, two sources said, when the government plans to announce a rescue program for the industry.
June 16 (Reuters) - A former co-chief executive of oil services company PetroTiger Ltd was sentenced to probation on Tuesday, a day after his bribery trial ended abruptly when he pleaded guilty to a single conspiracy charge.
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