Spain’s Repsol says it is spending more on green energy than oil and gas exploration

first_img FacebookTwitterLinkedInEmailPrint分享Bloomberg:Repsol SA has invested more in recent months in developing renewable power projects than searching for oil and gas, offering the latest example of how Europe’s energy giants are accelerating their shift away from fossil fuels.The Spanish firm has spent 199 million euros ($232 million) this year on oil exploration, in countries ranging from the U.S. and Russia to Indonesia, compared with about 300 million euros developing new clean energy projects. The growth of the renewables division may also make it feasible to bring in an external partner or hold an initial public offering of the unit in the future, Chief Executive Officer Josu Jon Imaz told analysts on Thursday.Repsol surprised the industry in December when it wrote down the value of its assets by 4.8 billion euros to adjust for lower crude prices in the future and said it would target net-zero emissions of greenhouses gases by 2050, the first major oil company to do so. Since then, larger rivals including Total SE, Royal Dutch Shell Plc and BP Plc, have unveiled their own plans to focus on clean energy.About 30% of Repsol’s capital expenditure in 2020 will be on low-emissions projects, and about 25% in the next few years, Imaz told Spain’s parliament in September. The company is set to present a new strategic plan in late November.This is the second major corporate shift by Repsol in just over 20 years. The Spanish refiner and gas station operator only became an oil producer after acquiring YPF SA in 1998. Its upstream division was for years populated by Argentine executives who worked for YPF, and even its power division is run by a former YPF employee.[Rodrigo Orihuela]More: Spanish oil giant now spends more on renewable energy than oil drilling Spain’s Repsol says it is spending more on green energy than oil and gas explorationlast_img read more

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Kent isn’t retiring type, yet

first_imgLast year, the seats were a pale yellow color. Infielders routinely lost the path of the ball after it left the pitcher’s hand because it blended into the scenery. “I think they’re going to go to kind of a teal green,” Garciaparra said. “They asked me about it, and that was great of them to do that. The organization listened to what we were saying. They wanted to do it right.” Dodgers spokesperson Camille Johnston wouldn’t confirm the new color or even say the seats are being replaced. But she did say simply, “We’re looking into it.” [email protected] (818) 713-3607 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Kent then covered his bets by seeming to suggest he will return in 2008. Kent, the last Dodgers player to report to spring training, said after an injury-plagued 2006 in which he twice went on the disabled list, he began looking forward to the next season earlier than ever. “By December, I was ready to play baseball,” Kent said. In other words, the notoriously dour Kent, who has ridden his admittedly indifferent attitude toward the game to what probably is a Hall of Fame career, has a new attitude now that his bothersome left oblique finally has healed properly. He was smiling broadly as he entered the Dodgers clubhouse and shaking hands with teammates along the way. Last spring, Kent signed a one-year, $11.5 million extension that will kick in this season. At the time, he was asked if it would be his final pro contract. He didn’t really answer definitely then, either. But the complicated deal carries a $7 million club option for next season, with a $500,000 buyout, or a $9 million vesting option if he has 550 plate appearances. And if Kent has that many plate appearances, it will mean he was reasonably healthy, which might motivate him to return in 2008. Kent now admits the oblique strain, which landed him on the disabled list from July 18 to Aug. 7, continued to bother him for the rest of the season. It clearly played a major role in the fact he hit just 14 home runs, his lowest single-season total in a decade. But Dodgers strength and conditioning coach Doug Jarrow visited Kent last fall at his Austin, Texas, home and left him with specific instructions for a new workout program geared toward those muscles. Dodgers first baseman Nomar Garciaparra said club officials have told him there is a plan to change the color of the Dodger Stadium dugout club seats behind home plate in an attempt to prevent injuries and unnecessary fielding errors. center_img VERO BEACH, Fla. – Dodgers second baseman Jeff Kent said Wednesday he has yet to decide whether he will retire after the upcoming season. He also said he doesn’t know when he will make that decision and until he does, he has no interest in discussing it. “Last year, I talked about that a lot,” Kent said. “This year, I won’t, and maybe that is a tell-tale sign that it might be (the last year).” last_img read more

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