Latest news
GDF Suez: Income is expected to fall next year as demand slows due to economic crisis
GDF Suez, Europe’s largest utility by market value, has announced this week that income for next year will register a decrease as the economic crisis in the region slows demand. According to GDF Suez, European demand for natural gas is down 14% since 2010 while power by 25 %, so it plans to cut its share of profit from Europe and is looking to double LNG sales to emerging markets.
read more... 11/12/2012
UK: household energy costs up 140% since 2004
According to a recent study released in UK, the cost of household energy has increased more than five times compared to household income since 2004.
read more... 18/05/2012
Total posts a 5% drop in Q1 adjusted net income
France’s largest oil company Total has posted a $217 million decline in its first quarter adjusted net income, down 5% compared to the first quarter of 2011, mainly due to flat oil and gas production rates and a drop in European demand for petrochemicals.
read more... 30/04/2012
Statoil doubled its net income in 2011
Statoil ASA, Norway’s largest oil and natural gas company is aiming to spend about $3 billion for the completion of approximately 40 wells during 2012, following its plans to raise production to 2.5 million barrels of oil equivalent a day in 2020, as it expands abroad and seeks to maintain production at home.
read more... 09/02/2012
Spain to focus on renewables
Spain is a fast developing renewable energy country and it is expected to move towards by supporting even more expensive energy commodities. Three Spanish companies, Iberdrola, Gas Natural and Endesa registered heavy incomes benefiting from the renewable boost. The chairman of Iberdrola, Sanchez Galan said the company made wrong steps with the development of solar PV power, and will make efforts to avoid such “moving” relative to solar thermal power.
read more... 16/11/2011