Hållbara Investeringar
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Energy on the Move Annual Report and Accounts 2014
Energy on the move Annual Report and Accounts 2014 Energy on the move Annual Report and Accounts 2014 www.galpenergia.com This translation of the Portuguese document was made only for the convenience of non-Portuguese speaking interested parties. For all intents and purposes, the Portuguese version shall prevail. ENERGY ON THE MOVE To evolve is to become adapted to the challenges of our surroundings, it is to adjust to new realities and to find ways to overcome our goals. It is for this reason that we can today think of Galp Energia as a living organism, where concepts such as resilience, adaptation, adjustment, involvement and joint construction allow for continuous evolution. Exploration & Production Refining & Marketing Gas & Power Galp Energia + + = Annual Report and Accounts 2014 01 Galp Energia 8 1.1 Galp Energia in the world 10 1.2 Statement of the Board of Directors 12 1.3 Strategy 16 1.4 Main indicators 18 02 Activities 20 2.1 Market environment 21 2.2 Exploration & Production 25 2.3 Refining & Marketing 37 2.4 Gas & Power 41 03 Financial performance 44 3.1 Executive summary 45 3.2 Results analysis 45 3.3 Capital expenditure 47 3.4 Cash flow 47 3.5 Financial debt 48 04 Risk management 49 4.1 Risk management model 50 4.2 Internal control system 51 4.3 Main risks 52 05 Commitment to stakeholders 59 5.1 Corporate governance 60 5.2 Human capital 67 5.3 Research and technology 69 5.4 Health, safety and environment 70 5.5 Quality 72 5.6 Local community development 73 06 Appendices 74 6.1 Proposed allocation of net profit 75 6.2 Additional information 75 6.3 Consolidated financial statements 78 6.4 Reports and opinions 170 6.5 Glossary and acronyms 177 This page is intentionally left blank. -
Russia's Oil&Gas Development and Exports Trends Oil Industry Gas
Eleventh Japan–Russia Energy and Environment Dialogue in Niigata R1-GROMOV Russia’s Oil&Gas Development and Exports Trends Alexey GROMOV, PhD, Principal Director on Energy Studies Institute for Energy and Finance The Eleventh Japan-Russia Energy and Environment Dialogue (JREED) Niigata, Japan 30th January 2019 1 Oil Industry Global oil market context Russian oil production and export trends up to 2023 2 Gas Industry EU Gas market trends Russian gas production and export trends up to 2023 1 ©ERINA Eleventh Japan–Russia Energy and Environment Dialogue in Niigata R1-GROMOV OPEC+ Agreement has a crucial role to stabilize the global oil market 90 $/bbl Brent WTI 80 70 60 OPEC+ Agreement Update 50 (June 2018) OPEC+ Agreement 40 Update (December 2018) OPEC+ OECD commercial Agreement stocks reduction 30 Decrease (December during 2015 2016) 20 01/15 03/15 05/15 07/15 09/15 11/15 01/16 03/16 05/16 07/16 09/16 11/16 01/17 03/17 05/17 07/17 09/17 11/17 01/18 03/18 05/18 07/18 09/18 11/18 • OPEC+ Agreement (December 2016) to cut collective oil production of 1,8 MMb/d supported global oil prices and reduced price volatility in 1Q2017- 1Q2018. • The threat of US sanctions against Iranian oil exports led to OPEC+ Agreement Update in June 2018 (increase collective oil production of 1 MMb/d). • New OPEC+ Agreement Update (December 2018) to cut collective oil production of 1,2 MMb/d has to reduce the oil market volatility in 2019 2 OPEC+ Agreement Update in December 2018 lead to gradually balancing the global oil market in 2019 Changes in global liquid fuels market balance Mbd 2.0 1.6 1.2 -0,4 -0,4 0.8 -0,8 0,75 0.4 0,7 +0,2 +0,2 +0,4 0,4 0,35 +0,4 -0,1 0,1 0.0 -0,2 +0,3 +1,2 -0,1 +0,3 -0,5 +0,3 -0.4 +0,2 -0,0 +0,2 Доп. -
Negativliste. Fossil Energi
Bilag 6. Negativliste. Fossil energi Maj 2017 Læsevejledning til negativlisten: Moderselskab / øverste ejer vises med fed skrift til venstre. Med almindelig tekst, indrykket, er de underliggende selskaber, der udsteder aktier og erhvervsobligationer. Det er de underliggende, udstedende selskaber, der er omfattet af negativlisten. Rækkeetiketter Acergy SA SUBSEA 7 Inc Subsea 7 SA Adani Enterprises Ltd Adani Enterprises Ltd Adani Power Ltd Adani Power Ltd Adaro Energy Tbk PT Adaro Energy Tbk PT Adaro Indonesia PT Alam Tri Abadi PT Advantage Oil & Gas Ltd Advantage Oil & Gas Ltd Africa Oil Corp Africa Oil Corp Alpha Natural Resources Inc Alex Energy Inc Alliance Coal Corp Alpha Appalachia Holdings Inc Alpha Appalachia Services Inc Alpha Natural Resource Inc/Old Alpha Natural Resources Inc Alpha Natural Resources LLC Alpha Natural Resources LLC / Alpha Natural Resources Capital Corp Alpha NR Holding Inc Aracoma Coal Co Inc AT Massey Coal Co Inc Bandmill Coal Corp Bandytown Coal Co Belfry Coal Corp Belle Coal Co Inc Ben Creek Coal Co Big Bear Mining Co Big Laurel Mining Corp Black King Mine Development Co Black Mountain Resources LLC Bluff Spur Coal Corp Boone Energy Co Bull Mountain Mining Corp Central Penn Energy Co Inc Central West Virginia Energy Co Clear Fork Coal Co CoalSolv LLC Cobra Natural Resources LLC Crystal Fuels Co Cumberland Resources Corp Dehue Coal Co Delbarton Mining Co Douglas Pocahontas Coal Corp Duchess Coal Co Duncan Fork Coal Co Eagle Energy Inc/US Elk Run Coal Co Inc Exeter Coal Corp Foglesong Energy Co Foundation Coal -
Morning Headlines
MORNING HEADLINES RUSSIAN CAPITAL MARKETS FRIDAY, MARCH 05, 2004 Sales/TradingLondon (+44 020) 7439 6881 Moscow (+7 095) 995 2400 MARKET NEWS COMMENT Surgutneftegas minori Market: Continue to see support in Gazprom, LUKoil and the cells. PM ties attempt to cancel ratified today.RTS closed Thursday at 669.26 up 0.3% or 1.99 points from the previous close. Trading volume Thursday fell to U.S. $45.5 million from U.S. $54.2 million Wednesday. The MICEX closed Thursday at Sibneft charged with 582.11, up 0.1% from the previous close. Trading volume on the MICEX $420 mn more in back was down to $582.1 million from $660.0 million on Wednesday. taxes LUKoil JV to tap Saudi natural gas field EVENTS Russia’s cellular sub TO WATCH Mar 11 Golden Telecom 2003 US GAAP results scriber base up 5% in Mar 14 Russia's presidential election scheduled February to 39.9 million Mar 20 SurgutNG AGM Mar 26 Results of March 14 presidential elections to be an URSI: new licenses for nounced Mar 28 Sibneft EGM and 2003 GAAP results Ekaterinburg, Sverd Yukos 2003 operating results Apr 1 Russia’s oil export duty set at $35.2 per tonne lovsk region; plans con Apr 6 Sibneft’s EMG expected to be held solidation Apr 15 NW Tel to consider merger with Lensvyaz and Komi's Svyaz RUSSIAN ADRs, LONDON INDICATORS Changes Changes Price Vol 1 day 1 mo YTD Value 1 day 1 mo YTD $ $ mn % % % $ % % % Gazprom 34.2 28.2 3.0 14.8 31.9 Urals, bbl 30.7 0.7 15.1 6.5 Lukoil 116.1 79.1 1.7 15.0 24.7 Nickel, t 13150.0 5.6 12.3 20.6 Surgut 31.7 6.2 1.6 12.2 7.8 Eurobond Rus10 112.5 0.1 5.8 7.3 -
Climate and Energy Benchmark in Oil and Gas
Climate and Energy Benchmark in Oil and Gas Total score ACT rating Ranking out of 100 performance, narrative and trend 1 Neste 57.4 / 100 8.1 / 20 B 2 Engie 56.9 / 100 7.9 / 20 B 3 Naturgy Energy 44.8 / 100 6.8 / 20 C 4 Eni 43.6 / 100 7.3 / 20 C 5 bp 42.9 / 100 6.0 / 20 C 6 Total 40.7 / 100 6.1 / 20 C 7 Repsol 38.1 / 100 5.0 / 20 C 8 Equinor 37.9 / 100 4.9 / 20 C 9 Galp Energia 36.4 / 100 4.3 / 20 C 10 Royal Dutch Shell 34.3 / 100 3.4 / 20 C 11 ENEOS Holdings 32.4 / 100 2.6 / 20 C 12 Origin Energy 29.3 / 100 7.3 / 20 D 13 Marathon Petroleum Corporation 24.8 / 100 4.4 / 20 D 14 BHP Group 22.1 / 100 4.3 / 20 D 15 Hellenic Petroleum 20.7 / 100 3.7 / 20 D 15 OMV 20.7 / 100 3.7 / 20 D Total score ACT rating Ranking out of 100 performance, narrative and trend 17 MOL Magyar Olajes Gazipari Nyrt 20.2 / 100 2.5 / 20 D 18 Ampol Limited 18.8 / 100 0.9 / 20 D 19 SK Innovation 18.6 / 100 2.8 / 20 D 19 YPF 18.6 / 100 2.8 / 20 D 21 Compania Espanola de Petroleos SAU (CEPSA) 17.9 / 100 2.5 / 20 D 22 CPC Corporation, Taiwan 17.6 / 100 2.4 / 20 D 23 Ecopetrol 17.4 / 100 2.3 / 20 D 24 Formosa Petrochemical Corp 17.1 / 100 2.2 / 20 D 24 Cosmo Energy Holdings 17.1 / 100 2.2 / 20 D 26 California Resources Corporation 16.9 / 100 2.1 / 20 D 26 Polski Koncern Naftowy Orlen (PKN Orlen) 16.9 / 100 2.1 / 20 D 28 Reliance Industries 16.7 / 100 1.0 / 20 D 29 Bharat Petroleum Corporation 16.0 / 100 1.7 / 20 D 30 Santos 15.7 / 100 1.6 / 20 D 30 Inpex 15.7 / 100 1.6 / 20 D 32 Saras 15.2 / 100 1.4 / 20 D 33 Qatar Petroleum 14.5 / 100 1.1 / 20 D 34 Varo Energy 12.4 / 100 -
Evolution in the Russian Gas Market – the Competition for Customers
Evolution in the Russian Gas Market – The Competition for Customers James Henderson NG 73 January 2013 The contents of this paper are the author’s sole responsibility. They do not necessarily represent the views of the Oxford Institute for Energy Studies, of any of the Institute’s members, and/or of the author’s other affiliations. Copyright © 2013 Oxford Institute for Energy Studies (Registered Charity, No. 286084) This publication may be reproduced in part for educational or non-profit purposes without special permission from the copyright holder, provided acknowledgment of the source is made. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the Oxford Institute for Energy Studies. ISBN 978-1-907555-66-4 ii Abbreviations and Units of Measurement bbls Barrels bcm Billion cubic metres bcma Billion cubic metres per annum bn bbls Billion barrels boepd Barrels of oil equivalent per day bpd Barrels per day E&P Exploration and Production ESPO East Siberia – Pacific Ocean (Pipeline) FSU Former Soviet Union IOC International Oil Company kboepd Thousands of barrels of oil equivalent per day kbpd Thousands of barrels per day km Kilometres mm bbls Million barrels mcm Thousands of cubic metres mmboepd Millions of barrels of oil equivalent per day] mmbpd Millions of barrels per day mmbtu Million British thermal units mmcm Millions of cubic metres mmt Millions of tonnes mmtpa Millions of tonnes per annum Mm tonnes Millions of tonnes P&P Proved and Probable tcm -
US Sanctions on Russia
U.S. Sanctions on Russia Updated January 17, 2020 Congressional Research Service https://crsreports.congress.gov R45415 SUMMARY R45415 U.S. Sanctions on Russia January 17, 2020 Sanctions are a central element of U.S. policy to counter and deter malign Russian behavior. The United States has imposed sanctions on Russia mainly in response to Russia’s 2014 invasion of Cory Welt, Coordinator Ukraine, to reverse and deter further Russian aggression in Ukraine, and to deter Russian Specialist in European aggression against other countries. The United States also has imposed sanctions on Russia in Affairs response to (and to deter) election interference and other malicious cyber-enabled activities, human rights abuses, the use of a chemical weapon, weapons proliferation, illicit trade with North Korea, and support to Syria and Venezuela. Most Members of Congress support a robust Kristin Archick Specialist in European use of sanctions amid concerns about Russia’s international behavior and geostrategic intentions. Affairs Sanctions related to Russia’s invasion of Ukraine are based mainly on four executive orders (EOs) that President Obama issued in 2014. That year, Congress also passed and President Rebecca M. Nelson Obama signed into law two acts establishing sanctions in response to Russia’s invasion of Specialist in International Ukraine: the Support for the Sovereignty, Integrity, Democracy, and Economic Stability of Trade and Finance Ukraine Act of 2014 (SSIDES; P.L. 113-95/H.R. 4152) and the Ukraine Freedom Support Act of 2014 (UFSA; P.L. 113-272/H.R. 5859). Dianne E. Rennack Specialist in Foreign Policy In 2017, Congress passed and President Trump signed into law the Countering Russian Influence Legislation in Europe and Eurasia Act of 2017 (CRIEEA; P.L. -
2020 Annual Report
Online Annual Report Gazprom Neft Performance review Sustainable 2020 at a glance 62 Resource base and production development CONTENTS 81 Refining and manufacturing 4 Geographical footprint 94 Sales of oil and petroleum products 230 Sustainable development 6 Gazprom Neft at a glance 114 Financial performance 234 Health, safety and environment (HSE) 8 Gazprom Neft’s investment case 241 Environmental safety 10 2020 highlights 250 HR Management 12 Letter from the Chairman of the Board of Directors 254 Social policy Technological Strategic report development Appendices 264 Consolidated financial statements as at and for the year ended 31 December 2020, with the 16 Letter from the Chairman of the Management Board 122 Innovation management independent auditor’s report About the Report 18 Market overview 131 2020 highlights and key projects 355 Company history This Report by Public Joint Stock Company Gazprom Neft (“Gazprom 28 2020 challenges 135 Import substitution 367 Structure of the Gazprom Neft Group Neft PJSC”, the “company”) for 2020 includes the results of operational activities of Gazprom Neft PJSC and its subsidiaries, 34 2030 Strategy 370 Information on energy consumption at Gazprom collectively referred to as the Gazprom Neft Group (the “Group”). 38 Business model Neft Gazprom Neft PJSC is the parent company of the Group and provides consolidated information on the operational and financial 42 Company transformation 371 Excerpts from management’s discussion and performance of the Group’s key assets for this Annual Report. The analysis of financial condition and results of list of subsidiaries covered in this Report and Gazprom Neft PJSC’s 44 Digital transformation operations interest in their capital are disclosed in notes to the consolidated Governance system IFRS financial statements for 2020. -
Oil & Gas Upstream & Integrated
Oil & Gas Upstream & Integrated Driving forces Highlighted criteria & Among upstream and integrated oil and gas companies, there is a dimension weights need to develop corporate strategies that consider the transition to Environmental Dimension..26% low-carbon economies. Climate strategy and its link to corporate – Climate Strategy governance is, thus, increasing in importance for investors in this – Operational Eco-Efficiency sector. At the same time, companies need to make sure that their – Water Related Risks current businesses can generate cash flows to cover investment and dividend requirements, and weather significant near-term Social Dimension ............. 32% demand fluctuations as consumer behavior adjusts to COVID-19. – Human Rights In the upstream segment, this requires diversifying to new growth – Occupational Health and opportunities in natural gas and renewable energies, such as wind Safety and solar. In downstream operations, cost competitiveness is – Social Impacts on closely linked to environmental and health and safety excellence. In Communities this context, the industry’s top performers are those able to manage a broad set of environmental, health and safety, ethical conduct, Governance & Economic and stakeholder risks. Taking these risks into account also goes Dimension ........................ 42% hand-in-hand with diversifying the fuel mix and discerning the – Corporate Governance pathway to a low-carbon future. – Energy Mix – Risk & Crisis Management Sustainability leaders 2021 Industry statistics S&P Global Gold Class Number of companies assessed 114 PTT Exploration and Production Market capitalization of assessed companies Public Company Limited Thailand (in USD billion) 3681.6 PTT Public Company Limited Thailand Number of companies in Yearbook 17 S&P Global Bronze Class Market capitalization of companies in Yearbook Galp Energia, SGPS, S.A. -
Case No COMP/M.5005 - GALP ENERGIA / EXXONMOBIL IBERIA
EN Case No COMP/M.5005 - GALP ENERGIA / EXXONMOBIL IBERIA Only the English text is available and authentic. REGULATION (EC) No 139/2004 MERGER PROCEDURE Article 6(2) NON-OPPOSITION Date: 31/10/2008 In electronic form on the EUR-Lex website under document number 32008M5005 Office for Official Publications of the European Communities L-2985 Luxembourg EUROPEAN COMMISSION Competition DG Brussels, 31-10-2008 SG-Greffe D/206595 C(2008) 6641 In the published version of this decision, some information has been omitted pursuant to Article PUBLIC VERSION 17(2) of Council Regulation (EC) No 139/2004 concerning non-disclosure of business secrets and MERGER PROCEDURE other confidential information. The omissions are shown thus […]. Where possible the information ARTICLE 6(1)(b) DECISION IN omitted has been replaced by ranges of figures or a CONJUNCTION WITH 6(2) general description. To the notifying party: Dear Sirs, Subject: Case No COMP/M.5005 – Galp Energia/ ExxonMobil Iberia Notification of 12 September 2008 pursuant to Article 4 of Council Regulation No 139/20041 1. On 12 September 2008, the Commission received a notification of a proposed concentration by which the undertaking Galp Energia, SGPS, S.A. ("Galp Energia", Portugal) belonging to the Galp Energia group ("GALP", Portugal) and controlled by ENI S.p.A. ("ENI", Italy), Amorim Energia B.V. ("Amorim", Portugal) and Caixa Geral de Depositos S.A. ("CGD" Portugal), acquires control of the whole of the undertakings Esso Portuguesa Lda. (Portugal), a wholly owned subsidiary of ExxonMobil Portugal ("ExxonMobil Portugal"), Esso Española S.L. ("ESSO Spain") and a part of ExxonMobil Petroleum & Chemical ("EMPC", Belgium), all of them wholly owned subsidiaries of ExxonMobil Corporation ("ExxonMobil", US), by way of purchase of shares. -
Hållbara Investeringar
Hållbara investeringar Exkluderingar enligt våra utökade hållbarhetskriterier per Q1 2018 För ett antal fonder har vi, utöver exkluderingar enligt Storebrandstandarden, även utökade hållbarhetskriterier. För mer information om vår policy och vår metod, se www.sppfonder.se. Följande företag är exkluderade: Borr Drilling Limited CONSOLIDATED EDISON INC ENGIE Fossila bränslen BP PLC CONTACT ENERGY LTD ENGIE BRASIL ENERGIA SA A.P. Møller-Mærsk A/S BW LPG LTD CONTINENTAL RESOURCES INC/ Engro Corp Ltd/Pakistan OK Aboitiz Equity Ventures, Inc. BW Offshore Ltd. ENI SPA CORE LABORATORIES N.V. ABOITIZ POWER CORP CABOT OIL & GAS CORP ENN ENERGY HOLDINGS LTD COSAN SA INDUSTRIA CO- ADARO ENERGY TBK PT California Resources Corp. Ensco Plc CALPINE CORP MERCIO ENTERGY CORP AES CORP CPFL ENERGIA SA AES GENER SA CALTEX AUSTRALIA LTD EOC Ltd CAMECO CORP CRESCENT POINT ENERGY CORP EOG RESOURCES INC AF Gruppen ASA Delek Group Ltd. AFRICA OIL CORP CANADIAN NATURAL RESOUR- EQT CORP CES Delta Air Lines, Inc. AGL ENERGY LTD EQUATORIAL ENERGIA SA - ORD Canadian Tire Corp. Ltd. Denbury Resources, Inc. Air Water Inc. EVERSOURCE ENERGY CANADIAN UTILITIES LTD-A DEVON ENERGY CORP Akastor ASA EXELON CORP CENOVUS ENERGY INC Dialog Group Bhd. AKER BP ASA EXXARO RESOURCES LTD CENTERPOINT ENERGY INC Diamond Offshore Drilling, Inc. Aker Solutions ASA EXXON MOBIL CORP Centrais Eletricas Brasilier DIAMONDBACK ENERGY INC Alimentation Couche-Tard, Inc. FIRSTENERGY CORP CENTRICA PLC DMCI Holdings, Inc. ALLIANT ENERGY CORP First Pacific Co. Ltd. CEZ AS DNO ASA ALROSA PJSC FLEX LNG Ltd CHENIERE ENERGY INC DOF ASA ALTAGAS LTD FLSmidth & Co. A/S Chesapeake Energy Corp. -
Årsstatistikk 2014 – Aksjenorge
Aksjestatestikk årsskife 14/15 Oversikt: Verdi: 2012 2013 2014 Kvinner: 14,196,427,472 16,189,340,801 15,810,296,390 Menn: 48,396,337,759 58,234,871,293 53,946,681,470 Totalt: 62,592,765,231 74,424,212,094 69,756,977,860 Antall: Kvinner: 113,096 110,700 108,207 Menn: 247,104 242,266 238,180 Totalt: 360,200 352,966 346,387 Verdi totalt, for kvinner og for menn har gått ganske mye ned siden sist årsskifte, nesten tilsvarende opp fra årsskiftet 2012/13. Dette kan vi se i grafen under: Når det kommer til antall aksjonærer har dette gått ned ganske stabilt for kvinner, menn og totalt de siste to årene. Dette sees i grafen under: Selskaper: Top 10 selskaper, antall aksjenærer: Selskaper Antall Selskaper 31.12.2013 Antall 31.12.2014 Selskaper 13.12.2012 Antall STATOIL ASA 92655 STATOIL ASA 97512 STATOIL ASA 99819 NORSK HYDRO ASA 49030 NORSK HYDRO ASA 51450 NORSK HYDRO ASA 51790 ORKLA ASA TELENOR ASA 40636 ORKLA ASA A-AKSJER 41307 A-AKSJER 44147 DNB ASA 40352 TELENOR ASA 41274 DNB ASA 43792 ORKLA ASA A-AKSJER 39542 DNB ASA 39674 TELENOR ASA 42919 GJENSIDIGE GJENSIDIGE FORS. FORS. ASA 34200 GJENSIDIGE FORS. ASA 36587 ASA 41258 YARA YARA INTERNATIONAL 31886 YARA INTERNATIONAL 35384 INTERNATIONAL 36608 RENEWABLE REC SILICON ASA 26061 REC SILICON ASA 27005 ENERGY COR 28206 STOREBRAND STOREBRAND ASA NORSKE SKOGIND. ASA ORD. 22122 ORD. 22273 ASA 24251 NORSKE NORSKE SKOGIND. STOREBRAND ASA SKOGIND. ASA 20964 ASA 21528 ORD. 23300 Litt endringer i passering, men stort sett det samme.