In a recent statement, U.S. Treasury Secretary Janet Yellen highlighted the significant impact of economic sanctions imposed on Russia by the United States, the European Union and their allies, including on the country’s budget deficit and oil revenues. She also stressed the strategic consequences of these sanctions for the Kremlin.
ADNOC Gas is opening up 4% of its capital by selling 3.07 billion shares at a price between 0.58 and 0.62 euro. This operation will allow the company to raise nearly 2 billion euros with leading investors such as a South African fund and an Emirati fund. The offer closes on March 3 and is expected to be listed on the Abu Dhabi Stock Exchange on March 13.
Italy’s Eni Group on Thursday announced record net profits of 13.8 billion euros for the year 2022, more than double the profits made the previous year. A tax on “excess profits” has also been introduced by Italy and competitors are following suit despite the fact that Eni’s share price is falling on the Milan stock exchange.
The pipeline project is now officially under the control of the French company TotalEnergies, and activists and NGO groups are facing considerable environmental and human criticism.
EDF’s new salvo of documents shows that the Hinkley Point C project will cost around 2% more than its previous budget estimate, meaning additional unbudgeted investment. The French government and its Chinese partner remain united in their commitment to complete construction of the British nuclear power plant, despite the considerable extra costs involved.
Spanish group Enagas saw its profits fall in 2022 to 375.8 million euros, despite increased gas exports via France and the Iberian peninsula. It has suffered the impact of a new regulatory framework that has reduced its margins in the domestic market. In addition, the Group benefited from asset sales to offset losses.
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