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    Energean, Regal Rebrand without Oil

Summary

But they do not plan to cut ties with hydrocarbons.

by: William Powell

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Energean, Regal Rebrand without Oil

Energean Oil & Gas and Regal Petroleum have rebranded themselves to remove the reference to oil in their names. More companies are seeking to distance themselves from their core non-renewable businesses as banks and governments take a harsher view of carbon emissions. 

Energean said May 29 that, following the annual general meeting May 21, it has changed its name from Energean Oil & Gas to Energean plc. However the Greek oil producer has retained its ENOG label on stock exchanges. The company's first target is to deliver a 70% reduction to its carbon emissions by 2022, by when it expects to have delivered first gas from its flagship Karish gas development and integrated the gas-weighted Edison upstream portfolio.

Ukraine-focused Regal Petroleum is now Enwell Energy. the oil and gas exploration and production group said May 29. It said the new corporate and investor website "reflects the evolution of its business."

Enwell said it has re-energised itself through "a relentless focus on disciplined growth in tandem with excellent operational results, including quadrupling reserves since 2013. Following recent strong financial results, Enwell remains confident of future growth potential."