French utility GDF Suez said Thursday its first-half operating profit was up 4.2 percent to 9.2 billion euros ($11.3 billion) on the back of surging revenues.Revenues were up 10.6 percent to 50.5 billion euros "despite a continued difficult economic and regulatory environment," the company said in a statement.It confirmed its full-year financial objectives of recurring net profit of between 3.7 billion and 4.2 billion euros and an ordinary dividend that would be stable or higher than in 2011...Read Full Story
French energy giant GDF Suez on Saturday signed a deal to sell 2.6 million tonnes of liquefied natural gas to China between 2013 and 2016 as the energy-hungry nation steps up gas imports.The agreement was signed with China's overseas energy firm China National Offshore Oil Corporation (CNOOC) in the presence of GDF Suez's chairman, Gerard Mestrallet. No sale price was published.The contract "represents a major step for our presence in China's energy sector," said Mestrallet.It comes after GDF...Read Full Story
French fatcat blamed for soaring British gas prices offered £7m 'thank you'
Last updated at 8:49 AM on 27th March 2009
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Gerard Mestrallet has received a massive bonus despite being accused of driving up energy prices
A chief executive whose company has been responsible for driving up energy prices by exporting British electricity abroad is to receive a £7million bonus.In the latest credit crunch scandal Gérard Mestrallet, the 59-year-old boss of...Read Full Story
BY GERALDINE AMIEL
PARIS—After completing two major transactions in less than four years, French utility giant GDF Suez SA aims to divest itself of some €10 billion, or about $14 billion, in assets by 2013 as it focuses on organic growth and steers clear of more big mergers for the foreseeable future, Chief Executive Gérard Mestrallet said Thursday.
“For now, we focus on organic growth,” Mr. Mestrallet said in an interview. “We might consider small and medium acquisitions in the future...Read Full Story
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