Rohan Bowater’s Post

“Celebrating its 100th year anniversary in 2024, TotalEnergies demonstrates once again this quarter the relevance of its balanced transition strategy that is anchored on two pillars, hydrocarbons and power, delivering strong results and an attractive shareholder return. In a context of sustained oil prices and refining margins but softening gas prices, the company announced first quarter 2024 adjusted net income of $5.1 billion and cash flow of $8.2 billion, in line with its ambitious 2024 objectives," outlined Patrick Pouyanné, CEO of TotalEnergies. #oilgas #energy #oilandgasnews #offshoreenergy #oilandgas #quarterlyresults #energytransition #decarbonization #LNG #oil #gas #naturalgas

Here is a simple report showcasing how the #Lifecycle of projects and the #RevenueStream impact the United States offshore wind valuations in 2023. #OffshoreWind #OffshoreWindAnalytics #UnitedStatescleanenergy

QUITE obvious what bp is focused on -- a slow shift from #oilandgas and a stronger pivot towards #renewables in its portfolio. if that is the case one has to ask whether #bp would seek an #upstream acquisition in the states along the lines of its #american peers #exxon and #chevron only time will tell. maybe when it has a new #ceo we'll find out more but there are definitely more assets and cos. to chase in #northamerica than the #uk and/or #europe. #usa

Today we announced our financial results for the first 9 months of 2023 - Solid results that reaffirm our full year outlook. Looking at the segments, momentum in Technology, Products and Services (TPS) is such that 9M revenue and EBIT have both now exceeded that achieved in the whole of 2022. And Project Delivery revenues inflected sequentially in Q3 with the growth path supported by segment backlog that has expanded by 36% year-over-year. A significant expansion in opportunity set for low-carbon markets with a 2X increase in energy transition FEED studies vs 2021. We have a high quality commercial pipeline of €55bn, with 38% weighted to energy transition, 33% to LNG and 29% to chemicals and other. In LNG specifically, we see good potential to selectively secure additional orders, including low-carbon LNG, over the next 12-24 months. REAFFIRMING - Strong positioning and outlook in LNG and energy transition markets; full year outlook confirmed #wearetechnipenergies #financialresults Technip Energies

▶️▶️ US Offshore Wind: Off-take Type and Lifecycle's Impact on Valuation ◀️◀️ In 2023, US offshore wind valuations varied due to two key drivers: the project lifecycle stage and the revenue stream. Here are multiples for three transactions: 💡 TotalEnergies's Divestment: 44% stake in Attentive Energy, US, at $0.3 million/MW ⚡ Ørsted's May Acquisition: 50% of Lease Area OCS-A 500 at $0.3 million/MW 🌟 Ørsted's January Purchase: 25% stake in Ocean Wind 1 at $0.9 million/MW Ocean Wind 1's Advantage: Advanced in the regulatory approval process with a firm OREC contract at $116.82/MWh, at the time of the deal. #OffshoreWind #RenewableEnergy #ValuationInsights #Enerdatics

Recent #offshorewind transactions spotlight valuation contrasts: Total divested a 44% stake in Attentive Energy offshore wind project in the US at $0.3 million/MW. In May, Orsted secured a 50% stake in lease Area OCS-A 500 at the similar valuation. In contrast, Orsted's previous acquisition (January 2023) of a 25% stake in Ocean Wind 1 was at a steeper $0.9 million/MW. The differentiator? Ocean Wind 1's advanced approval stage and a guaranteed OREC contract at $116.82/MWh. Such nuances can easily be discerned and understood using Enerdatics data.

The World Energy Capital Assembly will welcome international energy players to understand how approaches to the #energytrilemma differ around the world, as energy transition, affordability and security concerns fluctuate in developed and emerging economies. We'll be welcoming senior speakers from the likes of bp, Energean, Tamboran Resources Limited, PETRONAS, ADNOC Group, Viaro Energy and many more, to explore key themes such as: 🌎 Will the global geopolitical context slow down or accelerate the #energytransition? 🌎 How can those representing different forms of energy work together in order to accelerate the energy transition whilst delivering #energysecurity? 🌎 With the EU recently acknowledging the need for #naturalgas in the transition as a sustainable source of energy, what does this mean for the positioning of the international gas markets? Download the full agenda on our website, and book your tickets to join the leading names in energy in London this November: https://lnkd.in/e9wP7byM #WECA23 #energyaffordability #energyindustry #upstream #energyinvestment #energysupply #oilandgas #energypolicy #globalenergy #naturalgasindustry #oilandgasindustry #emissionreduction

🤔 What does it take for an oil and gas company transition? bp’s 3Q23 results showed a company in transition facing challenges, with a $540m impairment for offshore wind, but also articulating more clearly its strategy on how it will deliver value from low carbon. BP invested 6% of group capital in low carbon in 3Q23, slightly lower than the 7% 1H23. Together with bioenergy, convenience and EV charging, BP invested 26% of group capex in transition in 1H23 and is planning on increasing this to 45% by FY25. Download the full note from our website 👇 https://lnkd.in/gbMfzSZq #climatefinance #esginvesting #accelaresearch #oilandgas #sustainablefinance #netzero #BP

While on a mission to boost #energysecurity and propel #decarbonization forward in a challenging environment marked by a steep fall in #oil and #gas prices, Eni has disclosed strong financial and operating results for the fourth quarter and full year 2023 on the back of its #naturalgas and #LNG portfolio, which has been bolstered further with the acquisition of Neptune Energy’s business. However, the European oil major still experienced a 38% fall in annual profit compared to the sum collected in 2022. #oilgas #energy #oilandgasnews #offshoreenergy #oilandgas #energytransition #lowcarbon #CCS

While on a mission to boost #energysecurity and propel #decarbonization forward in a challenging environment marked by a steep fall in #oil and #gas prices, Eni has disclosed strong financial and operating results for the fourth quarter and full year 2023 on the back of its #naturalgas and #LNG portfolio, which has been bolstered further with the acquisition of Neptune Energy’s business. However, the European oil major still experienced a 38% fall in annual profit compared to the sum collected in 2022. #oilgas #energy #oilandgasnews #offshoreenergy #oilandgas #energytransition #lowcarbon #CCS