25 July 2023
25 July 2023
Proposals to triple global renewable energy capacity by 2030 resulted in disagreements between G20 member states.
In 2009, the G20 leaders committed to "rationalise and phase out over the medium-term inefficient fossil fuel subsidies".
Pertamina and Petronas will acquire 20% and 15% stakes, respectively, in the Masela PSC, which includes the Abadi gas project.
While the company’s $6bn in profits are almost half that of last year, the $3.08-per-share adjusted profit beat estimates.
The sale will see Global Infrastructure Partners pay $3.9bn, along with an annual maintenance investment of $1bn.
The move comes amid a series of renewables acquisitions by the Norwegian oil giant.
In May this year, Lebanon signed an agreement with Iraq to import more fuel.
Venezuela has been unable to secure licences in recent years as a result of US sanctions imposed on the country.
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