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The Global Economics
  • Banking
    UAE Approves $8.2 Billion Stimulus Package for Businesses

    UAE Approves $8.2 Billion Stimulus Package for Businesses

    UBA Stirs Digital Banking Scenario with New Mobile Banking Application Launch

    UBA Stirs Digital Banking Scenario with New Mobile Banking Application Launch

    Saudi National Bank Receives Approvals from Shareholders

    Saudi National Bank Receives Approvals from Shareholders

    TymeBank Secures R1.6 Billion from the UK and Philippine Investors

    TymeBank Secures R1.6 Billion from the UK and Philippine Investors

    Saudi Central Bank Launches Instant Payment System Sarie

    Saudi Central Bank Launches Instant Payment System Sarie

    QIB and HSBC Seal the First Islamic Trade Facility Deal at $100 Million

    QIB and HSBC Seal the First Islamic Trade Facility Deal at $100 Million

    Commercial Bank Launches New Payment Feature Through Wearables

    Commercial Bank Launches New Payment Feature Through Wearables

    Kenanga Investment Bank Acquires i-VCAP Management

    Kenanga Investment Bank Acquires i-VCAP Management

    Qatar Islamic Bank Brings New H2H Payment Management Solutions for Corporate Customers

    Qatar Islamic Bank Brings New H2H Payment Management Solutions for Corporate Customers

  • Finance
    Thermo Fisher Acquires PPD Inc. for $17.4 Billion

    Thermo Fisher Acquires PPD Inc. for $17.4 Billion

    Ride Hailing Firm Grab Signs $40 Billion Worth Merger with Altimeter Capital

    Ride Hailing Firm Grab Signs $40 Billion Worth Merger with Altimeter Capital

    Global Digital Payments Company Stripe Expands to Dubai

    Global Digital Payments Company Stripe Expands to Dubai

    Saudi Arabia’s Shareek Investment Strategy Welcomed by Businesses

    Saudi Arabia’s Shareek Investment Strategy Welcomed by Businesses

    Business Team Investment Entrepreneur Trading Concept

    UK Government Launches Four Investment and Trade Hubs

    Australia Pension Funds Join Hands in a $155 Billion Merger

    Australia Pension Funds Join Hands in a $155 Billion Merger

    Standard Life Aberdeen Joins Hands with Preservation Capital Partners in £102 Million Deal

    Standard Life Aberdeen Joins Hands with Preservation Capital Partners in £102 Million Deal

    Valoreo Raises $50 Million to Boost LatAm E-Commerce Sector

    Valoreo Raises $50 Million to Boost LatAm E-Commerce Sector

    Malaysia Aviation Group Obtains Approval for RM3.6 Billion Capital

    Malaysia Aviation Group Obtains Approval for RM3.6 Billion Capital

  • Technology
    Telesat Set to Compete Against Amazon and SpaceX to Supply Faster Broadband

    Telesat Set to Compete Against Amazon and SpaceX to Supply Faster Broadband

    India’s L&T Secures Solar Power Project in Saudi Arabia

    India’s L&T Secures Solar Power Project in Saudi Arabia

    Global Digital Payments Company Stripe Expands to Dubai

    Global Digital Payments Company Stripe Expands to Dubai

    LG Closes Down Smartphone Business After Heavy Losses

    LG Closes Down Smartphone Business After Heavy Losses

    Cineworld to Reopen with New Releases and Warner Bros Agreement

    Cineworld to Reopen with New Releases and Warner Bros Agreement

    Microsoft Close to Acquiring Chat Platform Discord for $10 Billion

    Microsoft Close to Acquiring Chat Platform Discord for $10 Billion

    Saudi Aramco Prioritizes China’s Energy Supply for Next Five Decades

    Saudi Aramco Prioritizes China’s Energy Supply for Next Five Decades

    Huawei Launches Regional Center for Asia-Pacific Region

    Huawei Launches Regional Center for Asia-Pacific Region

    MLL Telecom to Provide Broadband to The Kemnal Academics Trust

    MLL Telecom to Provide Broadband to The Kemnal Academics Trust

  • Insurance
    PolicyBazaar Raises $75 Million in its UAE and Middle East Expansion

    PolicyBazaar Raises $75 Million in its UAE and Middle East Expansion

    PSC Insurance Group Acquires Two UK-based Brokers for $66 Million

    PSC Insurance Group Acquires Two UK-based Brokers for $66 Million

    Aviva Sells French Operation to Aéma Groupe for €3.2 Billion

    Aviva Sells French Operation to Aéma Groupe for €3.2 Billion

    Insurtech Igloo Joins Hands with Surety Broker Philinsure

    Insurtech Igloo Joins Hands with Surety Broker Philinsure

    Apax Partners Acquires PIB Group from Carlyle Group Ownership

    Apax Partners Acquires PIB Group from Carlyle Group Ownership

    QIIG and SAP Partner up on Digital Transformation Deal

    QIIG and SAP Partner up on Digital Transformation Deal

    UnitedHealth’s Optum Signs Acquisition Deal for Change Healthcare for $13 Billion

    UnitedHealth’s Optum Signs Acquisition Deal for Change Healthcare for $13 Billion

    Prudential Vietnam and SeABank Extend Bancassurance Partnership

    Prudential Vietnam and SeABank Extend Bancassurance Partnership

    French Insurer AXA Sells Gulf Business for $269 Million

    French Insurer AXA Sells Gulf Business for $269 Million

  • Energy
    China’s Longi Green Energy Debuts in Hydrogen Market

    China’s Longi Green Energy Debuts in Hydrogen Market

    India’s L&T Secures Solar Power Project in Saudi Arabia

    India’s L&T Secures Solar Power Project in Saudi Arabia

    Russian Wheat Prices Drop to Keep a Lid on Country’s Rising Food Inflation

    Russian Wheat Prices Drop to Keep a Lid on Country’s Rising Food Inflation

    Energy Industry Struggles from Suez Canal Blockage by Container Ship

    Energy Industry Struggles from Suez Canal Blockage by Container Ship

    Saudi Aramco Prioritizes China’s Energy Supply for Next Five Decades

    Saudi Aramco Prioritizes China’s Energy Supply for Next Five Decades

    Sunseap Strikes Clean Energy Deal with Amazon to Meet Sustainability Goals

    Sunseap Strikes Clean Energy Deal with Amazon to Meet Sustainability Goals

    General Electric Close $30 Billion Deal with AerCap

    General Electric Close $30 Billion Deal with AerCap

    Japanese Energy Firm Mitsubishi to Provide Wind Power to Amazon’s European Facilities

    Japanese Energy Firm Mitsubishi to Provide Wind Power to Amazon’s European Facilities

    UAE Institutions Join World Logistics Passport to Foster Trade Growth

    UAE Institutions Join World Logistics Passport to Foster Trade Growth

  • Real Estate
    Aldar Properties Unveils Noya Viva in its Real Estate Portfolio on Yas Island

    Aldar Properties Unveils Noya Viva in its Real Estate Portfolio on Yas Island

    Dubai’s Ayana Holding Explores Florida’s Real Estate Market in $1.6 Billion Project

    Dubai’s Ayana Holding Explores Florida’s Real Estate Market in $1.6 Billion Project

    Aegon AM Launches U.K. Real Estate Fund for DC Pension Investors

    Aegon AM Launches U.K. Real Estate Fund for DC Pension Investors

    Aegon AM Launches U.K. Real Estate Fund for DC Pension Investors

    Aegon AM Launches U.K. Real Estate Fund for DC Pension Investors

    Abu Dhabi and Aldar Properties Join Hands to Develop $12.25 Billion Worth of Projects

    Abu Dhabi and Aldar Properties Join Hands to Develop $12.25 Billion Worth of Projects

    What Brexit Means for Property Market: Key Issues in 2021

    What Brexit Means for Property Market: Key Issues in 2021

    BNP Paribas REIM Acquires Nursing Home Property for European HPF Fund

    BNP Paribas REIM Acquires Nursing Home Property for European HPF Fund

    Alter Domus Partners with Yardi to Improve Real Estate Operations

    Alter Domus Partners with Yardi to Improve Real Estate Operations

    Abu Dhabi’s ADQ and Aldar Sign MoU for Emirate’s Projects

    Abu Dhabi’s ADQ and Aldar Sign MoU for Emirate’s Projects

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  • Banking
    UAE Approves $8.2 Billion Stimulus Package for Businesses

    UAE Approves $8.2 Billion Stimulus Package for Businesses

    UBA Stirs Digital Banking Scenario with New Mobile Banking Application Launch

    UBA Stirs Digital Banking Scenario with New Mobile Banking Application Launch

    Saudi National Bank Receives Approvals from Shareholders

    Saudi National Bank Receives Approvals from Shareholders

    TymeBank Secures R1.6 Billion from the UK and Philippine Investors

    TymeBank Secures R1.6 Billion from the UK and Philippine Investors

    Saudi Central Bank Launches Instant Payment System Sarie

    Saudi Central Bank Launches Instant Payment System Sarie

    QIB and HSBC Seal the First Islamic Trade Facility Deal at $100 Million

    QIB and HSBC Seal the First Islamic Trade Facility Deal at $100 Million

    Commercial Bank Launches New Payment Feature Through Wearables

    Commercial Bank Launches New Payment Feature Through Wearables

    Kenanga Investment Bank Acquires i-VCAP Management

    Kenanga Investment Bank Acquires i-VCAP Management

    Qatar Islamic Bank Brings New H2H Payment Management Solutions for Corporate Customers

    Qatar Islamic Bank Brings New H2H Payment Management Solutions for Corporate Customers

  • Finance
    Thermo Fisher Acquires PPD Inc. for $17.4 Billion

    Thermo Fisher Acquires PPD Inc. for $17.4 Billion

    Ride Hailing Firm Grab Signs $40 Billion Worth Merger with Altimeter Capital

    Ride Hailing Firm Grab Signs $40 Billion Worth Merger with Altimeter Capital

    Global Digital Payments Company Stripe Expands to Dubai

    Global Digital Payments Company Stripe Expands to Dubai

    Saudi Arabia’s Shareek Investment Strategy Welcomed by Businesses

    Saudi Arabia’s Shareek Investment Strategy Welcomed by Businesses

    Business Team Investment Entrepreneur Trading Concept

    UK Government Launches Four Investment and Trade Hubs

    Australia Pension Funds Join Hands in a $155 Billion Merger

    Australia Pension Funds Join Hands in a $155 Billion Merger

    Standard Life Aberdeen Joins Hands with Preservation Capital Partners in £102 Million Deal

    Standard Life Aberdeen Joins Hands with Preservation Capital Partners in £102 Million Deal

    Valoreo Raises $50 Million to Boost LatAm E-Commerce Sector

    Valoreo Raises $50 Million to Boost LatAm E-Commerce Sector

    Malaysia Aviation Group Obtains Approval for RM3.6 Billion Capital

    Malaysia Aviation Group Obtains Approval for RM3.6 Billion Capital

  • Technology
    Telesat Set to Compete Against Amazon and SpaceX to Supply Faster Broadband

    Telesat Set to Compete Against Amazon and SpaceX to Supply Faster Broadband

    India’s L&T Secures Solar Power Project in Saudi Arabia

    India’s L&T Secures Solar Power Project in Saudi Arabia

    Global Digital Payments Company Stripe Expands to Dubai

    Global Digital Payments Company Stripe Expands to Dubai

    LG Closes Down Smartphone Business After Heavy Losses

    LG Closes Down Smartphone Business After Heavy Losses

    Cineworld to Reopen with New Releases and Warner Bros Agreement

    Cineworld to Reopen with New Releases and Warner Bros Agreement

    Microsoft Close to Acquiring Chat Platform Discord for $10 Billion

    Microsoft Close to Acquiring Chat Platform Discord for $10 Billion

    Saudi Aramco Prioritizes China’s Energy Supply for Next Five Decades

    Saudi Aramco Prioritizes China’s Energy Supply for Next Five Decades

    Huawei Launches Regional Center for Asia-Pacific Region

    Huawei Launches Regional Center for Asia-Pacific Region

    MLL Telecom to Provide Broadband to The Kemnal Academics Trust

    MLL Telecom to Provide Broadband to The Kemnal Academics Trust

  • Insurance
    PolicyBazaar Raises $75 Million in its UAE and Middle East Expansion

    PolicyBazaar Raises $75 Million in its UAE and Middle East Expansion

    PSC Insurance Group Acquires Two UK-based Brokers for $66 Million

    PSC Insurance Group Acquires Two UK-based Brokers for $66 Million

    Aviva Sells French Operation to Aéma Groupe for €3.2 Billion

    Aviva Sells French Operation to Aéma Groupe for €3.2 Billion

    Insurtech Igloo Joins Hands with Surety Broker Philinsure

    Insurtech Igloo Joins Hands with Surety Broker Philinsure

    Apax Partners Acquires PIB Group from Carlyle Group Ownership

    Apax Partners Acquires PIB Group from Carlyle Group Ownership

    QIIG and SAP Partner up on Digital Transformation Deal

    QIIG and SAP Partner up on Digital Transformation Deal

    UnitedHealth’s Optum Signs Acquisition Deal for Change Healthcare for $13 Billion

    UnitedHealth’s Optum Signs Acquisition Deal for Change Healthcare for $13 Billion

    Prudential Vietnam and SeABank Extend Bancassurance Partnership

    Prudential Vietnam and SeABank Extend Bancassurance Partnership

    French Insurer AXA Sells Gulf Business for $269 Million

    French Insurer AXA Sells Gulf Business for $269 Million

  • Energy
    China’s Longi Green Energy Debuts in Hydrogen Market

    China’s Longi Green Energy Debuts in Hydrogen Market

    India’s L&T Secures Solar Power Project in Saudi Arabia

    India’s L&T Secures Solar Power Project in Saudi Arabia

    Russian Wheat Prices Drop to Keep a Lid on Country’s Rising Food Inflation

    Russian Wheat Prices Drop to Keep a Lid on Country’s Rising Food Inflation

    Energy Industry Struggles from Suez Canal Blockage by Container Ship

    Energy Industry Struggles from Suez Canal Blockage by Container Ship

    Saudi Aramco Prioritizes China’s Energy Supply for Next Five Decades

    Saudi Aramco Prioritizes China’s Energy Supply for Next Five Decades

    Sunseap Strikes Clean Energy Deal with Amazon to Meet Sustainability Goals

    Sunseap Strikes Clean Energy Deal with Amazon to Meet Sustainability Goals

    General Electric Close $30 Billion Deal with AerCap

    General Electric Close $30 Billion Deal with AerCap

    Japanese Energy Firm Mitsubishi to Provide Wind Power to Amazon’s European Facilities

    Japanese Energy Firm Mitsubishi to Provide Wind Power to Amazon’s European Facilities

    UAE Institutions Join World Logistics Passport to Foster Trade Growth

    UAE Institutions Join World Logistics Passport to Foster Trade Growth

  • Real Estate
    Aldar Properties Unveils Noya Viva in its Real Estate Portfolio on Yas Island

    Aldar Properties Unveils Noya Viva in its Real Estate Portfolio on Yas Island

    Dubai’s Ayana Holding Explores Florida’s Real Estate Market in $1.6 Billion Project

    Dubai’s Ayana Holding Explores Florida’s Real Estate Market in $1.6 Billion Project

    Aegon AM Launches U.K. Real Estate Fund for DC Pension Investors

    Aegon AM Launches U.K. Real Estate Fund for DC Pension Investors

    Aegon AM Launches U.K. Real Estate Fund for DC Pension Investors

    Aegon AM Launches U.K. Real Estate Fund for DC Pension Investors

    Abu Dhabi and Aldar Properties Join Hands to Develop $12.25 Billion Worth of Projects

    Abu Dhabi and Aldar Properties Join Hands to Develop $12.25 Billion Worth of Projects

    What Brexit Means for Property Market: Key Issues in 2021

    What Brexit Means for Property Market: Key Issues in 2021

    BNP Paribas REIM Acquires Nursing Home Property for European HPF Fund

    BNP Paribas REIM Acquires Nursing Home Property for European HPF Fund

    Alter Domus Partners with Yardi to Improve Real Estate Operations

    Alter Domus Partners with Yardi to Improve Real Estate Operations

    Abu Dhabi’s ADQ and Aldar Sign MoU for Emirate’s Projects

    Abu Dhabi’s ADQ and Aldar Sign MoU for Emirate’s Projects

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Home Top Stories

Petrobras Emphasizes Carbon Cuts as Equinor Considers Offshore Renewables

The signaling by Petrobras clears the air around its priorities in the energy sector

The Global Economics by The Global Economics
December 3, 2020
in Top Stories, Energy
Reading Time: 1 min read
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Petrobras Emphasizes Carbon Cuts as Equinor Considers Offshore Renewables

Petrobras Emphasizes Carbon Cuts as Equinor Considers Offshore Renewables

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In a contrasting move, #Petróleo Brasileiro S.A., better known as Petrobras, a state-owned Brazilian multinational corporation in the petroleum industry, made an announcement of investing and working towards cutting the carbon footprint into renewable sources of energy, over the next five years. 

In a statement, CEO of #Petrobras, Roberto Castello Branco, said that he would not be investing “a single dollar” in the renewable sources during the presentation with investors and analysts, charting out his five-year plan for the company. He also added that he has often pointed out how Petrobras has no comparative advantage in investing in renewable sources, labeling some environmental schemes and targets put forth by the European Countries as “ fanciful”. 

The fanciful practices are hard to implement in developing countries—many activists and leaders have pointed out. Instead, Petrobras would direct its efforts towards emission-reduction by conducting studies in hydrogen-powered ships. 

It is at odds with the comments made by Andres Opedal, CEO of #Equinor AKA, the state-owned Norwegian energy company. He referred to the 2018 MOU between Petrobras and Equinor, where plans of scouting for offshore wind opportunities had hatched, which is unlikely, after the recent comments by Roberto Branco. 

Branco also added that Petrobras is planning to sell a portion of the offshore natural gas pipelines through an initial public offering in the Q3 phase of 2021, but there can be further talks and negotiations with the involvement of stakeholders who have a say in this IPO.

Tags: EquinorPetrobrasPetróleo
The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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