Oil & Gas Group
This group brings together those who are interested in topics around oil and gas exploration, drilling, refining, and processing.
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BP, Total win in $14 billion German offshore wind site tender
FRANKFURT/LONDON, July 12 (Reuters) - Oil majors BP (BP.L) and TotalEnergies (TTEF.PA) emerged as the winners in a 7 gigawatt (GW) offshore wind site auction in Germany worth 12.6 billion euros ($13.96 billion), highlighting the appeal of renewable assets across Europe.
The move comes as European oil giants seek to grow their low-carbon businesses by entering the renewables sector, a market traditionally dominated by utilities, even though returns for solar and wind projects have come under pressure in recent years due to supply chain constraints and rising interest rates.
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BP, Total win in $14 billion German offshore wind site tender
Oil majors BP and TotalEnergies emerged as the winners in a 7 gigawatt (GW) offshore wind site auction in Germany worth 12.6 billion euros ($13.96 billion), highlighting the appeal of renewable assets across Europe.
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