Media Focus on Multinational Corporations[2022.03.28]

日期:

2022-03-28

浏览次数:

7245

Shell

Shell to Invest Up to $33B in UK's Energy Sector. Focus on Zero-Carbon

Shell will invest up to 25 billion pounds ($33 billion) into the energy system in Britain over the next decade, a senior executive at the oil major said, and over 75% of which will be funneled into zero-carbon products and services.

Shell plans to invest between 20 billion pounds and 25 billion pounds, David Bunch, head of the company's UK operations, said on Wednesday in a post on networking site LinkedIn and mentioned offshore wind, hydrogen, and electric mobility as focus areas.

Last February, the company pledged to eliminate net carbon emissions by 2050, which included curbing emission through rapid growth of its low-carbon businesses like biofuels and hydrogen.  

($1 = 0.7580 pounds)


TotalEnergies

TotalEnergies launches carbon capture pilot project in Dunkirk

The 3D industrial pilot to demonstrate an innovative process for capturing CO2 from industrial activities is now running at ArcelorMittals Dunkirk site. With support from the EUs Horizon 2020 Research and Innovation programme, the project aims to validate replicable technical solutions for carbon capture. The 3D project, driven by a consortium including TotalEnergies, ArcelorMittal, Axens and IFP Energies Nouvelles (IFPEN), is a major step towards decarbonising industries that are highly emissive of CO2, such as steelmaking.

The challenge for carbon capture researchers is making the processes more competitive and less energy intensive. This industrial pilot should allow the performance of the DMXTM carbon capture process developed in IFPENs labs over the last ten years to be verified.

The project was launched in May 2019, and the building of the demonstrator began in 2020 under Axenssupervision. In December 2021, the pilots main modules, including a 22 m tower, were delivered and assembled at ArcelorMittals site in Dunkirk. The phases of building the pilot and connecting it to the plant have now been completed, and the unit is ready for start-up.

This demonstration, which is scheduled to last for 12 18 months, is the final stage before the technologys full-scale deployment.

The carbon capture facility will process steelmaking gases: it will demonstrate the effectiveness of the carbon capture process by separating the CO2 from other gases. During the demonstration stage, it will capture 0.5 t of CO2 an hour, i.e. more than 4000 tpy.


Saudi Arabia

Saudi Arabia hikes oil investments as it profits from price surge

Saudi Arabia's state oil company Aramco, under pressure from the West to boost output amid soaring prices, pledged on Sunday to hike investments by around 50% this year as it reported a doubling in 2021 profits, said Reuters.

The capex guidance was 25-57% higher than the USD31.9bn spent in 2021, with further growth expected until around the middle of the decade, Saudi Aramco said on 20 March. It noted that substantial new investment is required to meet demand growth, against a broader decline in upstream investment across the industry globally.

Saudi Aramco is looking at raising its crude oil maximum sustainable capacity (MSC) to 13m bbl/day by 2027, up from 12m bbl/day currently, and boosting gas production by more than 50% by 2030.

The companys capex in 2021 was up 18% from the previous year due to increased activities in relation to crude oil increments, Tanajib Gas Plant and development drilling programs, Saudi Aramco said. The Saudi energy major more than doubled its 2021 net profit to riyal (SR) 412.4bn (USD110bn), with sales up by more than 75%, on the back of strong oil prices, and improved refining and chemical margins following incorporation of petrochemical major SABICs results.

Aramcos free cash flow more than doubled to USD107.5bn in 2021, with gearing ratio reduced to 14.2% from 23.0% in the previous year. Full-year 2021 cash dividend totaled $75bn, with $18.8bn declared for the fourth quarter which will be paid out in the first quarter of 2022. Aramcos board further recommended that $4bn in retained earnings be capitalized and bonus shares be distributed to shareholders, with one bonus share granted for every 10 shares held.

 

ConocoPhillips

ConocoPhillips looking to divest gas assets in Texas and Oklahoma

ConocoPhillips is considering selling its gas producing assets in the Anadarko basin of North Texas and Western Oklahoma, in the US, reported Reuters, citing two sources.

According to documents seen by the news agency, the shale oil producer is working with an undisclosed adviser for the potential gas assets sale.

The assets considered for sale include both non-operated and operated leaseholds, as well as royalty interests in the SCOOP and STACK formations of Oklahoma.

ConocoPhillipsoperated Anadarko assets comprise 261,200 net acres, producing approximately 8,000 barrels of oil equivalent per day (boepd).

The firms non-operated assets include 17,700 net acres in Oklahoma, with a production capacity of 3,000boepd, according to the marketing document.

The sale forms part of the oil companys efforts to raise cash by divesting non-core land parcels.

According to the sources, the company is expected to raise nearly $200m by selling operated Anadarko assets, and approximately $100m from the sale of non-operated assets.

ConocoPhillips has started marketing both the operated and non-operated assets.

These assets could be divested to either a single bidder or separate parties.

In case the company doesnt receive good offers, it could continue to hold onto one or both packages.

Last month, Bloomberg reported that ConocoPhillips is looking to sell over $1bn worth of assets in the Permian Basin.

The company was working with an undisclosed adviser to launch an auction for these assets.


BP

bp and Marubeni partner to pursue offshore wind in Japan

bp will partner with offshore wind developer Marubeni to explore offshore wind and potentially other decarbonization projects, including hydrogen in Japan, bp announced on Wednesday.

As part of their agreement, bp will join Marubeni in their proposal for an offshore wind project off the coast of Japan, purchasing a 49% stake in the proposed project.

Marubeni has extensive knowledge in the wind energy sector, with a total power generating capacity of about 12 gigawatts and involvement in the development and operation of more than 2 gigawatts of onshore and offshore wind power globally.

Additionally, Marubeni is the lead partner in the development, permitting and construction of the first large-scale, commercial offshore wind project, the 140-megawatt Akita offshore wind farm, to achieve a financial close in Japan to date.

Moreover, under the partnership, bp will establish a local offshore wind development team in Tokyo.

Japan, with its aim to become carbon neutral by 2050, has set a target of deploying 10 gigawatts of offshore wind capacity by 2030 and up to 45 gigawatts by 2040.


ExxonMobil

Romgaz shareholders summoned again for USD 1 bln deal with ExxonMobil

The management of Romanian state-controlled natural gas company Romgaz summoned for April 28 the representatives of the shareholders to endorse, once again, the USD 1.06 bln deal with ExxonMobil involving half of the offshore perimeter Neptun Deep in the Black Sea, the company announced in a note to investors.

The companys management estimates that the completion of the transaction will occur in the second quarter of the current year.

The production will not begin before 2026, energy minister Virgil Popescu estimated, commenting on the development.

Shareholdersexplicit approval is needed for a second time because, since the previous consent, certain clauses of the sale-purchase agreement were adjusted - especially in the sense of covering in favour of Romgaz of certain tax risks - the management explained. According to sources familiar with the deal consulted by Profit.ro, those tax risks are related to the obligation to pay a share transaction tax in the Bahamas, where Exxons investment vehicle subject to the deal is registered.

The price of the deal was maintained at USD 1.06 bln, which can be positively adjusted by a maximum of USD 10 mln, while a negative price adjustment is not limited.

Upon signing the sale-purchase agreement, Romgaz will have the obligation to pay the sellers an amount equal to USD 106 mln representing an advance payment/deposit.

After satisfying the conditions precedent required to complete the transaction, as stipulated in the sale-purchase agreement, Romgaz shall pay the amount representing the difference between the acquisition price and the advance payment/deposit paid upon signing the sale-purchase agreement.


ADNOC

ADNOC and Germany to accelerate clean hydrogen collaboration

UAEs Abu Dhabi National Oil Company (ADNOC) has signed a memorandum of understanding (MoU) and joint study agreements (JSA) with German companies to deepen clean hydrogen collaboration.

The agreements were announced during the visit of the German Federal minister for economic affairs and climate action Robert Habeck to the UAE. The talks build upon the longstanding Emirati-German Energy Partnership as well as the Ministerial Emirati-German Hydrogen Task Force from November 2021.

Germanys hydrogen strategy expects clean hydrogen demand of up to 3 million tonnes per annum (mtpa) by 2030. Of this, around 60 per cent will be imported. In addition, demand might grow to over 11 mtpa by 2050.

On the other hand, ADNOC is an H2 producer that plans to significantly grow its clean hydrogen production. With its planned expansion in Europe, ADNOC is to further accelerate the delivery of the UAE Hydrogen Leadership Roadmap. This roadmap specifically identified Germany as a key export market with a target of providing up to 25 per cent of the countrys imported clean hydrogen.


Rockcliff

Shale driller Rockcliff Energy weighs $4 billion sale

Rockcliff Energy LLC, a private equity-backed natural gas explorer, has been speaking with advisers as it evaluates takeover interest from rival U.S. shale drillers, people with knowledge of the matter said.

The Houston-based company could seek $4 billion or more in a sale, the people said. Deliberations are at an early stage, and theres no certainty Rockcliff will conclude any transaction, according to the people who requested anonymity because the information isnt public.

Representatives for Rockcliff and its Houston-based backer Quantum Energy Partners didnt immediately respond to requests for comment.

Founded in 2015, the company pumps the daily equivalent of more than 1 billion cubic feet of gas from the Haynesville Shale in East Texas. Last week, its Quantum affiliate Trace Midstream agreed to sell gas gathering and processing assets to Williams Cos. for $950 million.

While publicly traded shale drillers are adhering to fiscal discipline, closely held explorers have been ramping up output in U.S. shale fields over the past year in hopes of attracting takeover interest.

Rockcliff has boosted output 15-fold since its inception and has a portfolio of more than 1,000 yet-to-be-drilled targets, according to a November investor presentation.


Weibo

Weibo in a spot in US, weighs 'options'

The US Securities and Exchange Commission on Thursday added Nasdaq-listed Weibo Corp, China's microblogging service provider, to its watch list of Chinese companies that are allegedly not in compliance with the Holding Foreign Companies Accountable Act.

Weibo has been given 15 business days to April 13 to produce evidence showing it should not be delisted from Nasdaq. Weibo did not respond directly to the delisting issue but said on Thursday that it would continue to monitor market developments and evaluate all strategic options.


Shell&BYD

Shell, BYD to charge up NEV sector

Shell Plc announced strategic cooperation with BYD on Thursday to help accelerate China's energy transition and improve charging experience of BYD customers who use battery-powered electric vehicles and plug-in hybrids in the fast-expanding new energy vehicle sector.

The partnership will start in China and Europe before extending to other regions, Shell said.

Market observers said the Shell-BYD tie-up confirms China's status as a leading center of EV production and sales, which is attracting more international players to its rapidly growing EV charging sector.

Shell and BYD said they intend to form a joint venture to develop EV charging networks in China. They have charted a plan to operate first a network of more than 10,000 charging points in Shenzhen, Guangdong province, in the near future. The network will be further expanded to more locations nationwide, Shell said.

Shell and BYD will collaborate on global research and development in areas like battery performance and advanced charging. Shell will also offer BYD's private and commercial customers membership access to 275,000 charging points through Shell roaming network.

Shell and BYD will also jointly develop depot charging services for BYD customers in Europe.


Takeda

China approves Takeda cancer drug

Japanese pharmaceutical company Takeda announced on Friday that Brigatinib, an innovative lung cancer drug, has been approved by China's National Medical Products Administration, bringing a new treatment option for lung cancer patients.

The tablet is a new anaplastic lymphoma kinase (ALK) tyrosine kinase inhibitor used to treat those suffering from non-small cell lung cancer.

The company said the drug, which has been clinically proven to prolong patient survival, controls the spread of the disease especially cancer to other parts of the body and improves the quality of life of patients.

It has been listed as a first-line preferred drug in national clinical practice guidelines of cancer and the guidelines for the diagnosis and treatment of non-small cell lung cancer.

The approval of the medicine also marked Takeda China's official entrance in the field of lung cancer treatment, the company said.


Starbucks

Beijing Starbucks Foundation donates $1m to help ethnic minority rural women

The Beijing Starbucks Foundation on Wednesday announced its donation of 6.35 million yuan ($1 million) to YouChange China Social Entrepreneur Foundation to jointly launch the latest edition of its social impact project aimed at supporting ethnic minority rural women while enhancing the intangible cultural heritage in the country.

The project plans to select 50 female leaders in intangible cultural heritage, and to support the cooperatives they lead in creating job opportunities for 1,250 women in three years.

In addition, it will focus on empowering, incubating and promoting 15 teams of rural women entrepreneurs, to create more jobs and promote entrepreneurship that will enable the sustainable development of the industry while bringing intangible cultural heritage to more people.


Hisense

Hisense earns national award for excellence in Dubai

Chinese home appliances giant Hisense recently won the Dubai Quality Global Award for its excellent practices and alignment with economic development and social happiness in the United Arab Emirates.

The company, headquartered in Qingdao, Shandong province, is the only Chinese company to win the award this year, outperforming a number of competitive global rivals such as Sony and Samsung.

Sheikh Mohammed bin Rashid Al Maktoum, vice-president and prime minister of the UAE and ruler of Dubai, presented the award to Jason Ou, president of Hisense Middle East and Africa, at a ceremony on Wednesday.

The award is 'well-aligned with the vision and strategy guiding Dubai to be a future hub of business and industries, a smart city, and a digital economy', said Helal Saeed Al Marri, director general of the Department of Economy and Tourism of Dubai, organizer of the annual campaign.


State Grid

State Grid launches 2 major projects

State Grid Corp of China started construction of two ultrahigh voltage power transmission projects on Thursday to further facilitate the country's ongoing green energy transition.

With a total investment of 10.9 billion yuan ($1.7 billion), the projectsan ultrahigh voltage power transmission line linking Fuzhou with Xiamen in Fujian province and a line linking Zhumadian in Henan province with Wuhan in Hubei provinceare expected to be put into operation by 2023, said the company on Thursday during a news conference.


CGN

China breaks ground on major solar thermal project

China General Nuclear Power Corp began constructing its 2 million kilowatt solar thermal storage integrated project on Wednesday in Delingha, Qinghai province.

It is to date the solar thermal storage integrated project with the highest energy storage ratio in the country, the company said.

With a total installed capacity of 2 million kW, including 1.6 million kW of solar and 400,000 kW of photothermal salt storage capacity, the project has an energy storage ratio of 25 percent and can store energy for six hours, it said.

After the project is put into operation, annual power connected to the grid is expected to reach 3.65 billion kilowatt hours, it said.

The company's Delingha 50 megawatt solar thermal power plant in Qinghai, which is also China's first large commercial parabolic-trough concentrated solar power plant, was put into operation in 2018.

The operation of the solar power facility makes China the eighth country to have a large solar thermal power station. It is also a milestone for the company's solar-thermal energy development after more than 10 years of development.


Alibaba

Alibaba carries out second buyback in year

E-commerce giant Alibaba Group Holding Ltd said on Tuesday it expanded its share buyback program to $25 billion from $15 billion, as it emphasized 'confidence in the company's continued growth'.

The increasethe second such move in less than a yearcame as shares tumbled amid a flurry of global issues and following Beijing's enhanced antitrust supervision over tech companies more than a year ago.

As of Friday, the company has purchased 56.2 million American depositary shares under the previously announced buyback program of $9.2 billion, the company said in a statement.

The largest buyback in Alibaba history will run for two years through March 2024, and the board has authorized the program, according to the company.


Hisense

Hisense to build urban bus system in Ethiopia

Chinese home appliance giant Hisense Group has signed a cooperation agreement with related authorities in Ethiopia's capital Addis Ababa to build an intelligent bus system.

The move signifies Hisense's first-ever foray into the smart traffic segment overseas.

Hisense said the project is expected to finish within 21 months. Upon completion, local residents can receive real-time bus information through a mobile app as well as on digital screens at key public spots like bus stops.

Public transport firms can do real-time monitoring, remote control, intelligent scheduling of vehicles and match passenger flows and traffic capacity. This will help Ethiopia to improve operational efficiency of its public transportation, Hisense said.

Hisense had announced in December that, in partnership with Shandong Hi-Speed Group, it won a bid in Ethiopia to provide intelligent solutions for public bus services in Addis Ababa.

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