Latest news with #Moeve
Time of India
a day ago
- Business
- Time of India
TotalEnergies buys 25% stake in offshore Suriname from Moeve
TotalEnergies has acquired a 25 per cent stake in Block 53 offshore Suriname from Spanish company Moeve , it said on Friday without giving financial details. The block is adjacent to the $10.5 billion Gran Morgu development , on which Total took a final investment decision in October and which is estimated to hold more than 700 million barrels of recoverable resources . The South American country has yet to produce hydrocarbons, but has ambitions to emulate neighbouring Guyana, where a consortium led by Exxon Mobil has discovered more than 11 billion barrels of recoverable oil and gas. Total said Block 53 contains an oil and gas discovery drilled near the border of Gran Morgu, and will allow for project expansion. Spain's second largest oil company Moeve, formerly known as CEPSA , has sold 70 per cent of its oil production assets since 2022 as part of an 8-billion-euro $9.4 billion) plan to pivot toward low carbon businesses. Houston-based APA, which operates Block 53, holds a 45 per cent stake, while Petronas owns 30 per cent.
Zawya
a day ago
- Business
- Zawya
TotalEnergies buys 25% stake in offshore Suriname from Moeve
PARIS - TotalEnergies has acquired a 25% stake in Block 53 offshore Suriname from Spanish company Moeve, it said on Friday without giving financial details. The block is adjacent to the $10.5 billion Gran Morgu development, on which Total took a final investment decision in October and which is estimated to hold more than 700 million barrels of recoverable resources. The South American country has yet to produce hydrocarbons, but has ambitions to emulate neighbouring Guyana, where a consortium led by Exxon Mobil has discovered more than 11 billion barrels of recoverable oil and gas. Total said Block 53 contains an oil and gas discovery drilled near the border of Gran Morgu, and will allow for project expansion. Spain's second largest oil company Moeve, formerly known as CEPSA, has sold 70% of its oil production assets since 2022 as part of an 8-billion-euro $9.4 billion) plan to pivot toward low carbon businesses. Houston-based APA, which operates Block 53, holds a 45% stake, while Petronas owns 30%. ($1 = 0.8537 euros)
Reuters
2 days ago
- Business
- Reuters
TotalEnergies increases Suriname position with new offshore block interest
PARIS, June 27 - French oil major TotalEnergies ( opens new tab has acquired a 25% interest in Block 53 offshore Suriname from Spanish firm Moeve, it said on Friday. The block is adjacent to the Gran Morgu development, which Total took a final investment decision on in October.
BBC News
28-04-2025
- Climate
- BBC News
Power outage causes chaos in Spain and Portugal
A massive power cut hit large parts of Spain and Portugal on Monday, causing widespread chaos and outage left millions of people without electricity, while internet and phone networks were also down. Trains were cancelled and evacuated in some regions, traffic lights stopped working amid mounting delays at airports. With shops, homes and restaurants plunged into darkness - and some people stuck in lifts - Spain's electricity network said by mid-afternoon that restoring power could take several hours. The cause remained unclear but there was "no indication" of a cyber attack, Portugal's Prime Minister Luis Montenegro said. When did the outage begin? The outage began around midday (13:00 BST) on Monday and its impact quickly the scale of the disruption became clear, residents of Madrid were warned to stay put, keep off the roads and not to call emergency services unless "truly urgent".A Spanish operator said power restoration would take up to 10 hours, while Portugal's power firm REN said getting back to full power could take up to a week. Queues formed at cash machines as card payments were affected by the outage, and there were reports that some petrol stations are closed. Spanish media reported that some hospitals had implemented emergency plans, including halting routine work, news agencies early evening and after several hours of blackouts, residents in some parts of the country reported the lights are back on. Power was being restored "in several areas of the north, south and west of the [Iberian] peninsula", the Spanish grid operator said. The authorities in Spain and Portugal are still trying to work out what caused the power cuts."There are no indications of any cyberattack" at this point, the President of the European Council, Antonio Costa, said. As panic spread earlier in the day, residents of Madrid were warned people to stay off the a video on social media, the mayor of the Spanish capital, José Luis Martínez-Almeida, told residents to "keep their movements to an absolute minimum and, if at all possible, to remain where they are. We want to keep all roads clear."People should only call emergency services if it is "truly urgent", he said. "If emergency calls go unanswered, go to the police and the fire stations in person, where they will try to deal with all the emergencies." What has been the impact? The country's nuclear power plants automatically stopped when the blackout hit, and the Spanish oil company Moeve said it halted operations at its oil were also impacted, with delays and cancellations at some airports. EasyJet said it was experiencing some disruption to operations at Lisbon and Madrid. It said the situation was "fluid" and told customers to check local advice. Businesses have been severely affected. Some Ikea branches in Spain switched to backup generators and stopped customers from entering its stores. The Madrid Open Tennis organisers have decided to cancel Monday's event. Elsewhere, Andorra and parts of France were also hit, but the Balearic and Canary Islands were not affected. Were you affected by the outage? Email haveyoursay@
Reuters
28-04-2025
- Business
- Reuters
Spain's Moeve halts oil refineries after power blackout
LONDON, April 28 (Reuters) - Spanish oil company Moeve said it had halted operations at its oil refineries in Spain after a power blackout on Monday, a spokesperson said. Moeve, formerly knowns as Cepsa, operates three Spanish refineries, accounting for about 40% of the country's refining capacity. The company is owned by Abu Dhabi fund Mubadala and U.S.-based private equity firm the Carlyle Group.
