(Recasts with CFO comments, details)
Feb 17 (Reuters) - Dutch oil and chemical storage company Vopak’s fourth-quarter core profit missed market expectations, due to a one-off accounting issue at its associate industrial terminal PT2SB in Malaysia.
Excluding this 20 million euro ($24.11 million) hit the company’s core profit would have met market expectations, analysts said.
Chief Financial Officer Gerard Paulides said the PT2SB asset had been unstable financially in the last six quarters or so and noted the significant impact of COVID among other factors.
“The asset’s results should however stabilise in 2021,” he told Reuters in an interview.
Most of the world's planned hydrogen projects and the biggest chunk of related investments this decade are expected to be in Europe, an industry report said on Wednesday, as the continent races to scale up the low-carbon fuel to meet climate goals.
Royal Dutch Shell is betting on its expertise in power trading and rapid growth in hydrogen and biofuels markets as it shifts away from oil, rather than joining rivals in a scramble for renewable power assets, company sources said.
Italian utility Enel has agreed with Saras to develop a project to supply green hydrogen to the Italian refiner's Sarroch site in Sardinia, the two companies said on Tuesday.
Nord Stream 2 pipeline could be repurposed for hydrogen Russia looking at green future planned by key customer (Adds details from conference)
FRANKFURT, Feb 16 (Reuters) - Germany is in close communication with Russia about the potential of “green” hydrogen production and transport, Economy Minister Peter Altmaier said at a Russian-German conference.
Altmaier said in the webcast that Russia could work with Germany in the production and transport of green hydrogen that Germany hopes to develop on a large scale by sending renewable power from wind and sunshine through electrolysis to make synthetic fuel for the industry, energy and transport sectors.
“We offer Russia a deeper cooperation,” he said.