9 January 2019

Wind Turbines: Vestas – The First Global 100 GW Wind Giant

By |2019-01-11T20:42:14+00:00Wednesday, 9 January 2019|Categories: wind turbines|Tags: |0 Comments

Danish wind turbine giant Vestas reached a total installed capacity of 100 GW in late December 2018, according to company press releases. This equals a share of 16.7 percent of the world´s total installations of c. 600 GW wind turbines. Since 1979 the company has installed 66,000 turbines in 80 countries across the globe.

Order inflow looks promising with a record 12.9 GW in 2018 after 11.2 GW in 2017. The company reinstated its original 2018 cash flow target of €400 million, revoking a profit warning in November. Revenue expectations have remained unchanged at €10-10.5bn. The annual report is due on 7 Feb. 2019.

Looking forward, Vestas underlined that they will continue the strategic transformation from a pure wind turbine player to a provider of sustainable energy solutions. This would comprise hybrid solutions, storage, grid integration as well as digital and financial services. On the production and installation side, the focus will be on scalability and a modular approach to design, products, installation and integrated solutions.

Vestas Wind Systems A/S:
Market cap: 104 bn DKK ($16.1 bn),

P/E (ttm): 18,3

Image: Courtesy of Vestas Wind Systems A/S

Read more on the latest wind industry strategies in the next edition of our Global Energy Briefing (German/English version available)

8 January 2019

Shale Oil: Elliott Management bids for QEP Resources

By |2019-01-08T22:27:38+00:00Tuesday, 8 January 2019|Categories: Permian, shale oil|Tags: , |0 Comments

The wave of takeovers in the U.S. shale oil sector continues: Hedge fund Elliott Management (Paul Singer) makes a $2.1 billion proposal for Permian shale driller QEP Resources, as several news agencies report.

The offer is 44 percent above last week´s closing price but still way below the share price of last summer when crude oil was above $70 per barrel. QEP has 51.000 acres (c. 200 km2) in the Permian Basin, located close to large operators like ExxonMobil or Encana.

As large oil majors pour into the shale sector, small and mid-sized oil drillers owning attractive acreage have become the target of financial firms and large oil companies. For the likes of ExxonMobil or BP, shale oil is an interesting option for diversification and de-risking of capital investment thanks to short project times and predictable cash flow. For financial firms, some mid-sized drillers appear to be undervalued when oil prices fall and financing conditions for the oil firms deteriorate.

7 January 2019

Utilities in Transition: Vattenfall AB accelerating switch to renewables

By |2019-01-08T22:50:27+00:00Monday, 7 January 2019|Categories: company strategies, utilities|Tags: |0 Comments

Sweden´s Vattenfall AB is accelerating the transition to renewables, as German newspaper F.A.Z. reports.

The large utility, which is 100 percent owned by the Swedish state, plans to quadruple the share of renewables by 2025. This includes the expansion of wind power capacities from 3 GW (end of 2018) to 11 GW (2025). Within “one generation”, the group as well as its customers and suppliers should be “fossil-free”.  Currently, Vattenfall generates about  25 percent of its power from fossil fuels.

In Germany, Vattenfall has abandoned its lignite assets a few years ago and is abandoning its German nuclear assets. In Sweden, however, the company will continue to operate its large nuclear plant Ringhals.

Vattenfall is already one of the largest offshore wind power operators in Europe. Further wind farms are currently being built in the Baltic Sea. To finance these projects, the company intends to make greater use of external sources. Parts of wind farms could also be sold to investors.

Unlike E.ON (Innogy/RWE) or Ørsted, however, the company does not intend to become a global player, but continues to concentrate on Northern Europe and Great Britain.

In addition to wind farms, green hydrogen will play an important role in its corporate strategy. This includes a pilot plant in Luleå. Here, a steelworks replaces coke with hydrogen generated by green electricity (wind, hydro).

Additional RE activities are:

  • Vattenfall´s electrolysis plants near Gothenburg are involved in the production of biofuels from cellulose.
  • In Germany, a centralized power-to-heat project (Berlin) will provide district heating to consumers.

Find more on the latest utility strategies in the next edition of our Global Energy Briefing (German/English version available)

10 December 2018

Global Energy Briefing No 170: Global Energy Markets in December (English Edition)

By |2019-01-08T16:34:31+00:00Monday, 10 December 2018|Categories: coal markets, electric vehicles, gas price, international gas markets, Japan, oil markets|0 Comments

The current edition of our newsletter Global Energy Briefing (No.170) reports on prices, trends and events on the international energy markets. Topics are among others:

(1) Oil price outlook after OPEC/Russia-Decision

(2) US gas prices surge by more than 40 per cent; but sink  in negative territory in Permian Basin

(3) EU/Asian gas markets – relaxed winter outlook

(4) Hard coal markets: Prices down; weak 2019 outlook

(5) Power markets: Japan – back to nuclear

(6) Electric car markets: strong US numbers; China new all-time high in October; EV market share 7 per cent by December?

10 December 2018

GEB Nr.170: Die internationalen Energiemärkte im Dezember (deutsche Ausgabe)

By |2019-01-08T16:35:41+00:00Monday, 10 December 2018|Categories: Elektrofahrzeuge, Gasmärkte, Gaspreise, Japan, Kohlemärkte, Kohlepreise, LNG, Ölmarkt, Ölpreise|0 Comments

In der aktuellen Ausgabe unseres Abonewsletters Global Energy Briefing (Nr.170) berichten wir über Preise und Trends auf den internationalen Energiemärkten. Themen dieser Ausgabe sind unter anderen:

(1) Ölpreisausblick – Wie geht es weiter nach der OPEC-Entscheidung?

(2) Gaspreise USA – Turbulenter Markt in den USA; Gaspreise ziehen am Henry Hub um 40% an, während sie im Permian unter Null sinken

(3) Gaspreise Europa/Asien – weiterhin entspannter Winterausblick

(4) Kohlepreise geben nach – verhaltender Ausblick auf 2019

(5) Stromsektor: Japan setzt wieder auf Atomstrom

(6) Elektroautos: Starke Zahlen aus den USA und neues All-Time-High in China; Marktanteil könnte im Dezember bereits bei 7% liegen.

23 November 2018

Global Energy Briefing No.169: Big Oil in Transition? The Path to Decarbonization (English Edition)

By |2018-11-23T15:47:35+00:00Friday, 23 November 2018|Categories: company strategies, decarbonization, investment strategies, oil industry|0 Comments

Oil and gas account for more than half of global energy-related greenhouse gas emissions. International oil companies are now under pressure to demonstrate the sustainability of their portfolio and adapt their business models to the global transformation of energy systems. Investors, NGOs and the media are questioning them critically.

In this issue of our newsletter you will find 37 pages of background information on the discussion about Big Oil and company-specific strategies. How high are the emissions caused directly and indirectly by Shell, Respol or BP? What options does the industry have to move quickly to a sustainable 2°C path? Which companies are changing in the direction of “Energy Company”; which companies are sticking with their traditional business model?

21 November 2018

GEB Nr.169: Big Oil in Transition – Pfade zur Dekarbonisierung für internationale Ölkonzerne (dt.Ausg.)

By |2019-01-04T12:32:26+00:00Wednesday, 21 November 2018|Categories: Öl & Umwelt, Ölbranche, Unternehmensstrategien|0 Comments

Öl und Gas erzeugen mehr als die Hälfte der globalen energiebedingten Treibhausgasemissionen. Die internationalen Ölkonzerne stehen jetzt unter Druck, die Nachhaltigkeit ihres Portfolios zu demonstrieren und ihre Geschäftsmodelle an die globale Energiewende anzupassen. Dabei werden sie von Investoren, NGOs und Medien gleichermaßen kritisch hinterfragt.

In dieser Ausgabe unsers Newsletters finden Sie auf 37 Seiten eine Vielzahl von Hintergrundinformationen zur Diskussion über Big Oil. Wie hoch sind die Emissionen, die von Shell, Respol oder BP direkt und indirekt verursacht werden? Welche Optionen hat die Branche, sich rasch auf einen nachhaltigen 2°C-Pfad zu begeben? Welche Unternehmen wandeln sich Richtung  “Energy Company”; welche Konzerne bleiben bei ihrem traditionellen Geschäftsmodell?

19 October 2018

Global Energy Briefing No 168: International Energy Markets in October (English Edition)

By |2018-11-23T14:50:05+00:00Friday, 19 October 2018|Categories: coal markets, electric vehicles, gas price, investment trends, oil price, renewables|0 Comments

The current edition of our Global Energy Briefing (No.168) reports on prices, trends and events on the international energy markets. Topics of this issue are among others:
Oil price outlook – Iranian sanctions could fizzle out, weak oil price expected. Gas prices – relaxed winter outlook in Europe and Far East, China already supplied with LNG. Coal power generation unexpectedly attractive due to cheap blends; Glencore/Tohoku agreement. Emission prices (ETS) – stabilization after profit takin. Electric cars: Steep rise in USA; stagnation in Germany. Feature: Global investments in renewables in third quarter: shrinkage of 6%, sideways trend now in seventh year.

19 October 2018

GEB Nr.168: Die internationalen Energiemärkte im Oktober (deutsche Ausgabe)

By |2018-11-23T14:38:45+00:00Friday, 19 October 2018|Categories: Elektrofahrzeuge, Energiepreise, Erneuerbare Energien, Finanzierung, Gaspreise, Kohlemärkte, LNG, Ölmarkt, Ölpreise, Projektfinanzierung|0 Comments

In der aktuellen Ausgabe unseres Global Energy Briefing (Nr.168) berichten wir über das Geschehen auf den internationalen Energiemärkten. Themen dieser Ausgabe sind unter anderen:
Ölpreisausblick – Iransanktionen könnten verpuffen, schwacher Ölpreis erwartet; Gaspreise – entspannter Winterausblick in Europa und Fernost, China bereits mit LNG versorgt; Kohleverstromung unerwartet attraktiv durch billige Blends; Einigung Glencore/Tohoku; Emissionspreise (ETS): Stabilisierung nach Gewinnmitnahmen; Elektroautos: Sprunghafter Anstieg in USA; Stagnation in Deutschland. Feature: Globale Investitionen in Renewables im dritten Quartal: Schrumpfung um 6%, Seitwärtstrend jetzt im siebten Jahr.

1 October 2018

GEB Nr.167: Die internationalen Energiemärkte im September (deutsche Ausgabe)

By |2018-11-23T13:50:11+00:00Monday, 1 October 2018|Categories: Elektrofahrzeuge, Energiemärkte, Kohlemärkte, Kohlepreise|0 Comments

In der aktuellen Ausgabe unseres Global Energy Briefing (Nr.167) berichten wir auf 30 Seiten über das Geschehen auf den internationalen Energiemärkten. Themen dieser Ausgabe sind unter anderen: Ölpreisausblick; Manipulationsvorwürfe im Steinkohlemarkt; Kohleverstromung profitiert von hohen Emissionspreisen; deutsche Gaspreise & ostasiatisches LNG; Kohlewende in den USA; aktuelle Zahlen zur Elektromobilität weltweit; und vieles mehr…

Load More Posts