Energiser Investments Share Discussion Threads

[grupo] 05/12/2020 05:42

U.S. defense bill aims to thwart Russia's Nord Stream 2 pipeline
Dec. 04, 2020 5:45 PM ETPublic Joint Stock Company Gazprom (OGZPY)By: Carl Surran, SA News Editor43 Comments

The FY 2021 National Defense Authorization Act contains sanctions that backers say will halt the Russia-to-Germany Nord Stream 2 gas pipeline project.
The sanctions will seek to deprive Russia of the capability to upgrade Gazprom's (OTCPK:OGZPY) vessel to lay the type of pipe used in the project, as well as required insurance and certifications.
The NDAA is expected to win passage by the U.S. House early next week and soon after by the Senate, but Pres. Trump has warned he would veto the bill over a provision to strip the names of Confederate military leaders from U.S. bases, among other reasons.
Nord Stream 2's European financial backers are Royal Dutch Shell (RDS.A, RDS.B), BASF (OTCQX:BASFY), Uniper (OTC:UNPPY), OMV (OTCPK:OMVJF) and Engie (OTCPK:ENGIY).
The NDAA authorizes $732B in discretionary spending for U.S. defense, including $10B to buy 93 Lockheed Martin (NYSE:LMT) F-35 fighter jets after the Trump administration requested 79, and the Virginia-class submarine made by General Dynamics (NYSE:GD) and Huntington Ingalls (NYSE:HII).

[waldron] 04/12/2020 18:08

Brent Crude Oil NYMEX 48.99 +0.57%
Gasoline NYMEX 1.27 +0.37%
Natural Gas NYMEX 2.50 +2.54%
WTI 45.87 USD +0.45%


FTSE 100
6,550.23 +0.92%
Dow Jones
30,137.55 +0.56%
CAC 40
5,609.15 +0.62%
SBF 120
4,436.26 +0.66%
Euro STOXX 50
3,539.27 +0.58%
DAX
13,298.96 +0.35%
Ftse Mib
22,160.57 +0.70%



Eni
8.744 +3.45%


Total
37.69 +3.36%


Engie
12.5 -0.68%

Orange
10.545 +0.72%



Bp
276.95 +3.92%

Vodafone
130.16 +2.36%

Royal Dutch Shell A
1,402.4 +3.39%



Royal Dutch Shell B
1,351.4 +3.21%


Tullow Oil (TLW)
34.13: 2.56 (8.11%)

[waldron] 04/12/2020 09:40

News
OPEC+ decides to increase oil production by 500,000 b/d from 2021

Oil & GasUpstreamProduction

By NS Energy Staff Writer 04 Dec 2020

OPEC and non-OPEC the countries have agreed to increase the oil production effective from January 2021
russia-112445_640

The 12th OPEC and non-OPEC ministerial meeting concludes. (Credit: David Mark from Pixabay)

The Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries have decided to increase oil production by 500,000 barrels per day (bpd).

At the 12th OPEC and non-OPEC Ministerial Meeting (ONOMM) held via videoconference, the countries have agreed to increase the oil production effective from January 2021.

In a press statement, Opec said: “In light of the current oil market fundamentals and the outlook for 2021, the Meeting agreed to reconfirm the existing commitment under the DoC (Declaration of Cooperation) decision from 12 April 2020, then amended in June and September 2020, to gradually return 2 mb/d, given consideration to market conditions.”

Additionally, the participating countries of the DoC have agreed to assess market conditions by holding monthly OPEC and non-OPEC ministerial meetings starting in 2021.

Upon assessing, the countries will decide on further adjustments for oil production for the following month with monthly adjustments set not more than 0.5 million barrels per day (mb/d).

The DoC participating countries have decided to voluntary adjust production by 0.5 mb/d from 7.7 mb/d to 7.2 mb/d, starting in January 2021.

In the meeting, the countries have also agreed to extend the compensation period established from the 11th ONOMM until the end of March 2021 to ensure full compensation from the DoC countries of over production in in previous months.

Opec said in a statement: “Looking ahead, the Meeting emphasized that it was vital that DoC participants, and all major producers, remain fully committed to efforts aimed at balancing and stabilizing the market.

“It noted that renewed lockdowns, due to more stringent COVID-19 containment measures, continue to impact the global economy and oil demand recovery, with prevailing uncertainties over the winter months.”

The latest meeting follows the decision made by OPEC+ in October 2020 to support the oil market amid weak demand due to a second wave of the coronavirus.

[sarkasm] 03/12/2020 19:55

ANNOUNCEMENT 18 Nov 2020

In November 2020, the European Investment Bank (EIB) and Engie signed a EUR 466 million (approx. USD 516 million) loan to finance the company’s optimisation activities of its heat/cooling network.

[maywillow] 02/12/2020 13:10

Germany may have found loophole to dodge US sanctions against Russia's Nord Stream 2 gas pipeline – report

2 Dec, 2020 09:02

Germany may have found loophole to dodge US sanctions against Russia's Nord Stream 2 gas pipeline – report


Germany may create a special fund to bypass restrictions imposed by the US government on the Russian-led gas pipeline project Nord Stream 2, Bild tabloid has reported, quoting unnamed sources.

The slush fund is aimed at tackling the problems of climate change, and may identify the project as the most important element of environmental protection. The measure is reportedly being considered by local authorities in the German state of Mecklenburg-Vorpommern.

Under the plan, the state government would reportedly launch an enterprise whose products and services would be used only for completing the construction of the Nord Stream 2 pipeline.

The fund would provide German firms with an opportunity to supply services to the Russian side. Technically, German companies won't cooperate with the Nord Stream 2 project, led by Russian energy giant Gazprom, and therefore won't become subject to the US sanctions.

The pipeline is being constructed by Gazprom's subsidiary Nord Stream 2 AG in close cooperation with five European energy majors. The gas route, which runs under the Baltic Sea, is set to double the existing pipeline's capacity of 55 billion cubic meters annually.


The project faced sharp criticism from Washington which has repeatedly blasted Europe for over-reliance on Russian energy supplies, and accused Russia of monopolizing the European energy market.

Seeking to boost sales of US liquefied natural gas to Europe, the White House issued special guidelines for its Protecting Europe's Energy Security Act (PEESA), allowing the State Department to introduce sanctions against each and every firm cooperating with the Russian energy project.

RT.COM

[la forge] 02/12/2020 09:07

Engie Latam increases stake in Chilean subsidiary

Published 01 December 2020 Last Updated 01 Dec 2020 10:12

Tags Renewables Latin America

Carmen Arroyo



The Latin American subsidiary of France’s Engie has increased its stake in its Chilean affiliate Engie Energia Chile (EECL) by 7.23%

[waldron] 30/11/2020 18:13

Brent Crude Oil NYMEX 47.36 -1.84%
Gasoline NYMEX 1.23 -2.56%
Natural Gas NYMEX 2.90 +1.83%
WTI 44.845 USD -0.69%


FTSE 100
6,266.19 -1.59%
Dow Jones
29,564.16 -1.16%
CAC 40
5,575.16 -0.41%
SBF 120
4,408.75 -0.44%
Euro STOXX 50
3,492.54 -1.24%
DAX
13,291.16 -0.33%
Ftse Mib
22,191.88 -0.72%



Eni
8.303 -3.25%


Total
36.57 -3.00%



Engie
12.51 -0.08%

Orange
10.655 -0.33%



Bp
247.65 -5.80%

Vodafone
123.68 -0.98%

Royal Dutch Shell A
1,271.2 -5.09%


Royal Dutch Shell B
1,234.2 -5.35%

TULLOW
27.87 -3.83% (-1.11)

[waldron] 30/11/2020 08:10

Russia's Nord Stream 2 pipeline project set to restart after year's hiatus
Nov. 29, 2020 9:53 PM ETPublic Joint Stock Company Gazprom (OGZPY)By: Carl Surran, SA News Editor16 Comments

Construction work is set to resume later this week on the Nord Stream 2 gas pipeline after being stopped for a year because of U.S. sanctions designed to end the pipeline that will bring Russian gas to Germany.

Nord Stream 2 says undersea pipe-laying work will resume on a 2.6-km section of each of the gas pipeline's branches within Germany's exclusive economic zone.

The Gazprom-led (OTCPK:OGZPY) project, designed to deliver up to 55B cm/year when completed, would double the amount of natural gas that Germany can import from Russia, raising the ire of the U.S. government, which says the pipeline will increase European dependence on Russian energy supplies.

The U.S. Congress has been considering another bill that would widen the scope of sanctions to include any individual or entity providing insurance, technical certification or welding services for the project.

But so far, none of Nord Stream 2's European financial backers - Royal Dutch Shell (RDS.A, RDS.B), Germany's Uniper (OTC:UNPPY) and BASF (OTCQX:BASFY), Austria's OMV (OTCPK:OMVJF) and France's Engie (OTCPK:ENGIY) - have pulled out despite the escalating U.S. anger.

[waldron] 27/11/2020 17:39

Brent Crude Oil NYMEX 48.00 +0.76%
Gasoline NYMEX 1.26 +0.55%
Natural Gas NYMEX 2.84 -2.87%
WTI 45.31 USD +0.78%

FTSE 100
6,367.58 +0.07%
Dow Jones
29,890.79 +0.06%
CAC 40
5,598.18 +0.56%
SBF 120
4,428.16 +0.61%
Euro STOXX 50
3,527.79 +0.32%
DAX
13,335.68 +0.37%
Ftse Mib
22,343.09 +0.64%



Eni
8.582 +0.28%



Total
37.7 +0.90%



Engie
12.52 -0.04%

Orange
10.69 +1.47%



Bp
262.9 -0.23%

Vodafone
124.9 -0.62%

Royal Dutch Shell A
1,339.4 -0.06%



Royal Dutch Shell B
1,304 +0.40%

Tullow Oil (TLW)
: 28.98: -1.81 (-5.88%)

[waldron] 27/11/2020 15:37

Veolia Environnement SA's deal to buy a 29.9% stake in Suez SA from Engie SA has been in the works since late August, but the process has been anything but smooth.

French waste-and-water-management company Veolia bought the stake in its peer from energy company Engie with its second bid. But Suez has been opposed from the beginning and a legal wrangle has ensued. On Nov. 19, court bailiffs seized documents from the offices of Veolia and Engie, as well as investment firm Meridiam, as part of a court order requested by Suez.

Timeline

August 2020

At the end of August, Veolia launched an initial bid for the 29.9% stake at 15.50 euros ($18.47) a share. Engie had previously initiated a strategic review that included a possible sale of its Suez stake, which meant Veolia's bid was considered likely to succeed.

Analysts at Bryan Garnier said that it made sense for Engie to divest its Suez stake as part of wider streamlining, and that the acquisition would boost Veolia's international profile.

September 2020

Suez, however, was opposed from the beginning of the deal. Management expressed its opposition to Veolia's approach in September, characterizing the bid as "hostile." Suez said the offer undervalued the company, and that it had concerns over antitrust issues and potential job cuts.

On Sept. 17, Engie said it wouldn't accept the offer under the initial terms, but would be open to an improved offer. As expected, on Sept. 30, Veolia increased its bid to EUR18 a share, valuing the 29.9% stake at around EUR3.4 billion.

October 2020

On Oct. 5, Veolia said Engie had accepted the offer. As part of the offer, Veolia would guarantee job security for all Suez employees in France, while Meridiam would acquire Suez's French water-activities arm to preserve competition after analysts raised the prospect of potential antitrust issues.

Suez continued to oppose the deal, warning of "several serious anomalies" in the bid in a letter to French Finance Minister Bruno Le Maire. It also voiced support for a rival bid from private-equity firm Ardian, which had expressed interest in buying the stake from Engie.

A twist came on Oct. 9, when a French court ordered the suspension of the stake purchase. The legal reasoning behind the suspension, requested by Suez, was that the company's social and economic committees hadn't been consulted over the deal. Veolia called the decision "incomprehensible" and "grotesque," arguing that only Suez management had the capability to organize such a consultation, and that its failure to do so was born of its opposition to the deal. Veolia said it would appeal the decision.

November 2020

Early in November, Veolia confirmed that it still intended to make a full takeover bid for Suez, offering the same EUR18 a share price for the remaining share capital. It said the bid would be launched when the Suez board of directors showed itself amenable. Suez responded by noting the lack of a takeover offer to date, saying the only approach had been via media reports. Suez stressed that any takeover offer would have to reflect the company's value, as well as set out the detail of the combination and any asset sales.

In an apparent further setback, Suez said on Nov. 19 that the Paris Court of Appeal had confirmed the earlier decision suspending the effects of the stake purchase. Since no committee consultation had been carried out before the deal was finalized on Oct. 5, the effects of the sale remained suspended until that took place, according to the ruling, Suez said. "Effects" in this context seems mostly to refer to the voting rights conferred on Veolia as holder of a stake in Suez. The company added that it had not received the necessary information from either Veolia or Engie to carry out the relevant employee consultations.

For its part, Veolia insisted that Suez had told the court that it had finalized the consultation on Nov. 5, and that since the consultation period was three months, it would recover all its rights relating to the stake purchase on Feb. 5 at the latest. Suez, however, disputed this, arguing that the starting date for the consultation hadn't been fixed.

The legal developments took a further twist on Nov. 26, when court bailiffs entered the offices of Engie, Veolia and investment firm Meridiam to seize documents relating to the deal, according to media reports. According to the reports, the court order was requested by Suez, which apparently suspected collusion between Veolia, Engie and Meridiam. Suez is also said to suspect that Meridiam's purchase of Suez Eau was agreed as early as July, even before Engie Chairman Jean-Pierre Clamadieu announced the company was considering selling its stake in Suez.

What's Ahead

Not only do the bones of contention remain unresolved, there isn't yet any agreement between the parties as to when they will be. Veolia says early February is the latest possible end to the consultation period Suez is insisting on; Suez disagrees. If and when these issues are resolved, Veolia will launch a full takeover bid for its peer.

As for the document seizure, Veolia, Engie and Meridiam have the right to request a counter-judgment to the court order, in which case the documents seized would be held pending further legal developments, according to French law.

Write to Joshua Kirby at [e-mail]



(END) Dow Jones Newswires

November 27, 2020 09:44 ET (14:44 GMT)

[waldron] 20/11/2020 17:46

Brent Crude Oil NYMEX 44.34 +0.29%
Gasoline NYMEX 1.17 +0.28%
Natural Gas NYMEX 2.78 +1.98%
WTI 41.86 USD +0.56%


FTSE 100
6,351.45 +0.27%
Dow Jones
29,392.74 -0.31%
CAC 40
5,495.89 +0.39%
SBF 120
4,344.64 +0.32%
Euro STOXX 50
3,467.03 +0.45%
DAX
13,137.25 +0.39%
Ftse Mib
21,698.05 +0.75%


Eni
8.125 +0.59%


Total
34.5 +1.14%



Engie
12.165 +0.91%

Orange
10.41 +0.24%



Bp
244.4 +0.27%

Vodafone
123.18 +1.25%

Royal Dutch Shell A
1,244.8 +1.53%



Royal Dutch Shell B
1,196.8 +1.23%



Tullow Oil (TLW)
25.37 0.62 (2.51%)

[florenceorbis] 19/11/2020 14:03

Suez SA said Thursday that it hasn't received the necessary information to complete an employee consultation that would unfreeze a court-ordered suspension of the effects of the purchase of a stake in the company by Veolia Environnement SA.

The French waste-management company said that a court ruling confirmed Thursday that the effects of Veolia's purchase of a 29.9% stake in Suez's share capital remained suspended pending the completion of an employee consultation.

The Paris Court of Appeal confirmed an earlier ruling that said Suez employees had a right to be informed and consulted regarding the deal. Veolia bought the stake from energy company Engie SA.

Since no consultation had been carried out before the deal was finalized on Oct. 5, the effects of the sale remain suspended until the consultation had been completed, according to the ruling, Suez said.

"At this stage, Suez management still has not received from either Engie or Veolia all the necessary elements to respond precisely to employees' legitimate concerns regarding their future," the company said.

Earlier on Thursday, Veolia said in a statement that it would recover all rights in Suez resulting from the purchase by February 5 at the latest, three months after a date when, according to Veolia, Suez announced the beginning of the consultation.

Suez contests that Veolia will recover its rights on that date, and argues that the starting date for the consultation hasn't been fixed.

Suez has characterized Veolia's purchase of a stake in the company and its stated plans for a full takeover as hostile.



Write to Joshua Kirby at [e-mail]; @joshualeokirby



(END) Dow Jones Newswires

November 19, 2020 08:08 ET (13:08 GMT)

[waldron] 13/11/2020 18:09

Engie Sticks to Guidance as Quarterly Profit Beats Estimates

Francois de Beaupuy, Bloomberg News








BC-Engie-Sticks-to-Guidance-as-Quarterly-Profit-Beats-Estimates

BC-Engie-Sticks-to-Guidance-as-Quarterly-Profit-Beats-Estimates , Francois de Beaupuy

(Bloomberg) -- Engie SA stuck with full-year earnings forecasts as quarterly profit beat estimates, helped by cost cuts, a strong clean-power business and a rebound in energy services.

The French utility expressed confidence it’ll meet 2020 targets, saying its regulated assets in renewables, gas and power have proved resilient and it’s well prepared to ride out the second wave of the coronavirus crisis. The company is also pressing ahead with more divestments, having last month pulled off a $4 billion sale of its stake in water utility Suez SA.

Engie’s current operating income was 583 million euros ($688 million) in the third quarter, 15% down on a year earlier but 2% higher on a like-for-like basis.

“This is the first meaningful results beat for Engie in over one year,” analysts at Barclays Plc said in a note. “Most importantly, Engie’s 2020 guidance was conservatively enough set to withstand the impact of selling the Suez stake and additional lockdowns in Europe.”

The shares jumped as much as 4.7% to 12.48 euros in Paris on Friday, the highest since March 11. They traded up 2.4% as of 2:11 p.m. local time, paring their decline this year to 15%.

Engie said in July it wants to sell at least 8 billion euros of assets in the coming years, using the proceeds to boost growth in renewables and other services tied to the energy transition to fight global warming. The utility plans to offload part of its energy-services division, and said Friday it may sell some or all of its 40% stake in engineering business GazTransport & Technigaz SA to a third party or on the stock market.

“We’re going to start the process now,” Chief Financial Officer Judith Hartmann said on a conference call.

With quarterly earnings growing year-on-year for Renewables, Networks and Client Solutions -- a business on the slate for partial divestment -- and more disposals on the way, Engie maintained its 2020 forecast for net recurring income of 1.7 billion to 1.9 billion euros.

“Most of our businesses are performing well and we are well prepared for the new Covid-19 restrictions introduced in some of our main geographies,” the CFO said in a statement.

The company, based near Paris, said Friday it plans to sell services activities representing as much as 13 billion euros in annual revenue and 450 million euros in operating income.

Engie has “a lot of work ahead” to prepare the carve-out of its services activities, including a formal consultation process with employees in the first half of next year, before it decides on its divestment options, interim Chief Executive Officer Claire Waysand said on the conference call.

(Updates with CEO and CFO comments on asset sales from seventh paragraph.)

[waldron] 13/11/2020 17:24

Brent Crude Oil NYMEX 42.89 -1.02%
Gasoline NYMEX 1.13 -1.68%
Natural Gas NYMEX 3.18 +3.45%
WTI 40.25 USD -1.12%

FTSE 100
6,316.39 -0.36%
Dow Jones
29,354.74 +0.94%
CAC 40
5,380.16 +0.33%
SBF 120
4,255.46 +0.38%
Euro STOXX 50
3,439.93 +0.16%
DAX
13,076.72 +0.18%
Ftse Mib
20,948.41 +0.63%



Eni
7.66 +0.55%


Total
32.645 +1.37%



Engie
12.3 +3.19%

Orange
10.335 +0.68%

Bp
236.9 -0.38%

Vodafone
119.52 +1.07%

Royal Dutch Shell A
1,165.8 -0.78%


Royal Dutch Shell B
1,115 -0.92%

Tullow Oil (TLW)
:22.63 -1.42 (-5.90%)

[sarkasm] 13/11/2020 12:13

11/13/2020 | 07:22am GMT

By Cecilia Butini and Mauro Orru

Engie SA said Friday that operating income fell for the first nine months of the year fell as it took a one-billion euro ($1.18 billion) hit from the coronavirus pandemic.

The French utility company said nine-month current operating income decreased to 2.75 billion euros ($3.25 billion) from EUR3.82 billion in the first nine months of 2019.

Earnings before interest, taxes, depreciation, and amortization for the period slipped to EUR6.22 billion from EUR7.15 billion.

Revenue fell to EUR39.62 billion from EUR43.30 billion.

Engie said it continues to expect 2020 net recurring income between EUR1.7 billion and EUR1.9 billion and capital expenditure between EUR7.5 billion and EUR8 billion.

Write to Cecilia Butini at [e-mail] and Mauro Orru at [e-mail]; @MauroOrru94

(END) Dow Jones Newswires

11-13-20 0221ET

[the grumpy old men] 12/11/2020 08:37

Engie SA said Thursday that it is partnering with Traton SE's Scania to provide electric charging for trucks and buses in Europe.

The French energy company said the four-year partnership would initially focus on 13 European countries, with other regions following suit at the end of 2021.

Engie will deliver and maintain electric-charging solutions and associated services for Scania clients, while Scania will offer field services and training programmes for its drivers.

Scania and Traton are owned by Volkswagen AG.



Write to Mauro Orru at [e-mail]; @MauroOrru94



(END) Dow Jones Newswires

November 12, 2020 02:47 ET (07:47 GMT)

[gibbs1] 11/11/2020 15:44

NOV/13/2020 | 07:15am Q3 2020 Sales and Revenue Release

NOV/13/2020 | 09:30am Q3 2020 Sales and Revenue Call

[waldron] 11/11/2020 06:07

Nord Stream 2 sanctions to be part of must-pass U.S. defense bill
Nov. 10, 2020 10:56 PM ET|About: Public Joint Stock Company ... (OGZPY)|By: Carl Surran, SA News Editor

U.S. House and Senate negotiators have reached an agreement to include additional sanctions against the Nord Stream 2 gas pipeline between Russia and Germany in a must-pass defense bill, Bloomberg reports.

The sanctions reportedly would target insurance and certification companies that work with Russian vessels on completion of the project, included as part of the 2021 National Defense Authorization Act, which must be passed by the end of the year.

The U.S. has been trying to block completion of Nord Stream 2 over longstanding concerns that additional flows of Russian gas would increase the Kremlin's political leverage over European Union countries.

Partners in the project are Russia's Gazprom (OTCPK:OGZPY), Royal Dutch Shell (RDS.A, RDS.B), Germany's Uniper (OTC:UNPPY) and BASF (OTCQX:BASFY), Austria's OMV (OTCPK:OMVJF) and France's Engie (OTCPK:ENGIY).

[waldron] 11/11/2020 04:51

wind
EDPR and ENGIE Launch Major Offshore Wind Player in the US
Tuesday, 10 November 2020
0
REM
EDP Renewables and ENGIE have combined their existing and planned offshore wind efforts to form a new company, Ocean Winds that is one of the largest “pure” offshore wind development enterprises in the world. After launching OW in Europe, EDP Renewables and ENGIE are now unveiling the U.S. arm of this new company: OW North America.

“OW will be a major element in creating the new clean, sustainable, and prosperous economy that Americans are demanding and OW North America can help to build that future” said OW CEO Spyros Martinis, adding, “OW North America from Day One is in the business of developing and delivering real offshore wind projects.”

Regulators around the world, including U.S. authorities, have approved the merger of EDPR and ENGIE’s offshore wind businesses allowing OW to begin life with 5.5 GW of committed offshore assets starting with a total of 1.5 GW under construction and 4.0 GW under development, with the target of reaching 5 to 7 GW of projects in operation or under construction and 5 to 10 GW under advanced development by the middle of this decade.

OW North America starts its life in a strong position in the highly attractive US renewable energy market on both the East and West Coasts.

OW North America is a 50% owner of Mayflower Wind, a company which was successful in a state-sponsored competitive auction which resulted in contracts to deliver 804 Megawatts (MW) of offshore wind energy to the Massachusetts utilities and their customers by the middle of this decade.

Mayflower Wind’s federal lease area, awarded in December 2018, has the potential to reach over 1600 MW. In addition, OW North America is a partner in the Redwood Coast floating offshore wind project, building on its experience developing floating projects in Europe, in particular Windfloat Atlantic – a fully operational floating offshore wind farm that is supplying clean affordable energy to the electricity customers of Portugal. OW will fill EDPR’s role in the Redwood Coast public-private consortium committed to developing an offshore wind project utilizing floating platform technology off the coast of Humboldt County in Northern California. The project’s customers will include consortium member Redwood Coast Energy Authority, a community choice aggregator established by local governments in Humboldt County.