Several private equity firms dropped talks to buy a Siemens Energy AG stake in recent months over concerns about its unpredictable business nature, a decision vindicated by the company’s Thursday profit warning. Blackstone Inc., KKR & Co. and Clayton Dubilier & Rice each held discussions to acquire a major chunk of Siemens AG’s 32% stake …
Buyout Firms Abandoned Siemens Energy Stake Talks Before Plunge Read More »
June 23 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for an eighth week in a row for the first time since July 2020, energy services firm Baker Hughes Co (BKR.O) said in its closely followed report on Friday. The oil and gas rig count, an early indicator …
US drillers cut oil and gas rigs for eighth week in a row, Baker Hughes says Read More »
Courtesy of ENERGYminute Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Thea annual electricity consumption of an electric vehicle (EV) compared to a single-detached home can vary depending on several factors. Here are the variables that could affect the electricity usage and make a direct comparison challenging: EV Model and Efficiency: The energy consumption …
INFOGRAPHIC: Electricity Use Comparison: EV vs. Home – ENERGYminute Read More »
(Reuters) – Deutsche ReGas has sub-chartered a second floating storage and reception unit (FSRU) for liquefied natural gas for the Mukran terminal project in the Baltic Sea, with its LNG to flow to onshore grids via the nearby port of Lubmin from next winter. ReGas’ deal to charter the Transgas Power vessel, which has regasification …
Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian LONDON, June 23 (Reuters) – Oil dropped for a second day on Friday and was heading for a weekly decline, as a UK interest rate hike added to concern …
Oil Resumes Slide on Demand worries After Latest Rate Hikes Read More »
Expects wind unit issues to cost more than 1 bln eur Continues to face ramp-up issues in offshore wind Frankfurt-listed shares -12.8% FRANKFURT, June 22 (Reuters) – Siemens Energy, which supplies equipment and services to the power sector, scrapped its 2023 profit outlook after a review of its wind turbine unit exposed deeper than expected …
Siemens Energy scraps profit outlook as wind turbine troubles deepen Read More »
WASHINGTON — The Indigenous band that’s fighting Line 5 says three years is too long to wait for the controversial cross-border pipeline to be moved. A U.S. judge has given Enbridge Inc. until June 2026 to remove the 19 kilometres of pipe that crosses an Indigenous reservation in Wisconsin. But the chairman of the Bad …
Three Years Too Long a Wait for Line 5 Reroute, Indigenous Band in Wisconsin Says Read More »
The Church of England Pensions Board will offload its stake in Shell Plc as part of a total exit from oil and gas, as the influential investor turns its back on companies it says are failing to address climate risks. After years of trying to engage with management boards, it’s now clear that Shell and …
Shell Dumped by Church of England Pensions Due to Oil Risk Read More »
Analysis by Energy Workforce President Tim Tarpley Texas entered its second straight week of record high June temperatures that are putting significant strain on ERCOT and the surrounding grids. The good news is that for the most part, the grid appears to be holding without major widespread outages. Some local jurisdictions have requested power customers …
Rocord Heat Wave Hits Texas, Louisiana but Ercot Grid Still Holding – Tim Tarpley Read More »
Shell Plc’s pivot back to oil and gas was too much for one of the company’s power traders.After the company announced its plan to shift a larger proportion of its investment into fossil fuels in the coming years, Steffen Krutzinna decided to quit, according a post on LinkedIn. The change in strategy, announced by Chief Executive Officer …
Shell Power Trader Quits Over Company’s Pivot Back to Oil Read More »
