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Total, Shell and Renewable Energy

Total, Shell and Renewable Energy ; Siemens Gamesa (BME: SGRE) sees the challenge from rival GE (NYSE: GE) and Vestas Wind Systems (CPH: VWS).

Total, Shell and Renewable Energy
Yazar: Zack Smith

Yayınlanma: 3 Şubat 2021 23:37

Güncellenme: 18 Mart 2024 14:03

Total, Shell and Renewable Energy

French oil company Total (NYSE: TOT) outperformed other leading oil companies in the past year. According to Rystad Energy, Total has cut costs per barrel to a minimum compared to its competitors. In addition, finding 1 billion barrels of oil equivalent in 2020 (the equivalent of a barrel of oil is an energy unit based on the approximate energy released by the burning of a barrel of crude oil) has made it the only major company that allows it to replace more than 100 percent of what it produces. Shell has been awarded compensation for oil spills in Nigeria. Shell (NYSE: RDS.A) ordered a Dutch court to pay compensation to two Nigerian villages in a lawsuit that has been going on for more than a decade. More importantly, this decision sets a precedent for the company to be held liable for pollution abroad. Shell (NYSE: RDS.A) is investing heavily in expanding hydrogen units for the energy business as part of its energy transition plans.

News from the Energy Market

Despite Biden's decision to suspend the administrative decision, Biden's Interior Ministry approved the drilling permits in the first few days of office. Last Friday, the Internal Affairs said that 70 licenses were given inappropriately and canceled them. Iran will not revert to the nuclear deal unless the sanctions are lifted. Iran has stated that it will not revert to the terms of the 2015 nuclear deal until the American embargo imposed after the US withdrawal from the 2018 agreement is lifted.

Wind turbine market is warming up!

Siemens Gamesa (BME: SGRE) sees the challenge from rival GE (NYSE: GE) and Vestas Wind Systems (CPH: VWS). Competition continues to increase in the wind turbine production market. Meanwhile, Siemens has announced that it will lay off 7,800 people, mainly in the gas and electricity division, by the end of 2025. Natural gas prices continue to rise in the middle of winter! On Monday, natural gas prices rose more than 11 percent, driven by the cold weather in the northeast. Goldman: Gas markets are heading towards contraction in the summer. Goldman reiterated its view that natural gas markets will become more and more narrow towards the coming winter. The bank predicts that US natural gas prices will average $ 3.25/MMBtu during the summer months. A group of automakers withdrew support from the Trump administration's efforts to set California to stricter fuel economy standards. Companies include Toyota, Fiat Chrysler, Hyundai Motor, Kia Motors, Mitsubishi Motors and Subaru Corp. An automobile group also suggested starting talks with the Biden administration to tighten federal standards.   Total, Shell and Renewable Energy Source: https://finance.yahoo.com/ You may also be interested in: Oil Market by the Numbers
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