PARIS–(BUSINESS WIRE)–Total has signed an agreement to sell a 30% interest in Société des Transports Pétroliers par Pipelines (Trapil) to Pisto SAS for $290 million. “The sale of Total’s interest in this infrastructure reflects its active portfolio management strategy. Rather than own infrastructure assets, the Group’s aim is to hold contracts to use such infrastructure…
Category: Canadian Exchange
Oil & Gas, Electricity, Renewables, Canadian Exchange, News Releases
Inspired Energy completes acquisition of 40pc stake in Ignite Energy
LONDON: Inspired Energy, a leading energy consultant to UK and Irish corporates, has completed the acquisition of an initial 40 percent of the issued share capital of Ignite Energy. Inspired has paid net £5.0 million, calculated on a cash free debt free basis, for the strategic investment. Inspired also has an exclusive option, until 31…
Shell commences $25 billion share buyback programme
LONDON: Royal Dutch Shell has announced the commencement of trading in the next tranche of its share buyback programme previously announced on July 26, 2018. In the next tranche, the company has entered into an irrevocable, non-discretionary arrangement with a broker to enable the purchase of A ordinary shares and/or B ordinary shares for a…
Shell completes sale of $965 million interest in the Caesar-Tonga asset
HOUSTON – CNW: Shell Offshore Inc. (Shell), a subsidiary of Royal Dutch Shell plc, has completed the sale of 22.45% non-operated interest in the Caesar-Tonga asset in the US Gulf of Mexico to Equinor Gulf of Mexico LLC (Equinor), a subsidiary of Equinor ASA, subject to approval of the lease assignments by the regulator. The…
K-Electric holds its 107th Annual General Meeting – FY 2017
KARACHI: K-Electric (KE) held its 107th Annual General Meeting (AGM) – FY 2017, at a local hotel in Karachi. The meeting was chaired by Ikram Sehgal, Chairman KE Board, in the presence of Moonis Alvi, CEO; Aamir Ghaziani, CFO; Rizwan Dalia, Company Secretary & CPO and other members of the Board and KE leadership. A…
Utilita Energy to pay £175,000 after failing to meet carbon emission reduction obligations
LONDON: Utilita Energy failed to meet its carbon reduction obligations under the Energy Company Obligation (ECO) scheme between 2015 and 2018 and will pay £175,000 to the energy redress fund over its failings. ECO is a government energy efficiency scheme in Great Britain, administered by Ofgem, to help reduce carbon emissions and tackle fuel poverty….
Mitsubishi UFJ Lease & Finance to invest in electricity distribution business in UK
TOKYO: Mitsubishi UFJ Lease & Finance Company Limited (MUL) has announced its decision to participate in electricity distribution business in the UK by acquiring a stake in “Electricity North West Limited” (ENWL), an electricity distributor supplying the North West of England. KDM Power Limited., a holding company jointly established by MUL, Kansai Electric Power Co.,…
Pakistan’s electricity generation surges 2.0pc in June 2019
KARACHI: As per latest data released by National Electric Power Regulatory Authority (NEPRA), total electricity generation during June 2019 registered 2.0 percent YoY increase to 13,157Gwh against 12,914Gwh in the corresponding month of last year. “Slender rise in electricity generation during the month is primarily attributed to notable improvement in coal & RLNG based generation…
Attock Petroleum Limited records 30% decline in profits
KARACHI: Attock Petroleum Limited (APL) unveiled its FY19 financial results with profit after tax at PKR3.96 billion (EPS PKR39.79) versus PKR5.66 billion (EPS PKR56.83) recorded last year, down 30%YoY. Earnings of the company arrived above expectation owing to higher than estimated gross level margins in 4QFY19 likely on the back of inventory gains booked by…
Pakistan Oilfields posts 48% growth in profits
KARACHI: Pakistan Oilfields Limited (POL) unveiled its FY19 profit after tax at PKR16.87 billion (EPS PKR59.44) versus PKR11.38 billion (EPS PKR40.10) registered during last year, depicting a notable increase of 48%YoY. Net earnings of the company arrived above estimates primarily due to lower than estimated exploration expenses (-31%YoY) & higher than anticipated other income (+120%YoY)….
Gaz du Cameroun to supply 25 mmscfd of gas to 150MW Douala Power Station
LONDON: Victoria Oil & Gas Plc, announced that its whose wholly-owned subsidiary, Gaz du Cameroun has signed a non-binding term sheet with Aksa Enerji Uretim to supply Aksa Energy with up to 25mmsfd of gas to Aksa Energy’s planned 150MW power station, to be located in Bekoko, Douala, Cameroon. The Term Sheet is subject to…
Kazatomprom announces first Capital Markets Day
LONDON, UK: JSC National Atomic Company, Kazatomprom, announced its first Capital Markets Day, which will be held in London, United Kingdom, the afternoon of September 30, 2019, at the London Stock Exchange. Kazatomprom will be represented by members of its Management team, as well as members of the Board of Directors. A more detailed agenda…