Oil & Gas

Total (NYSE: TOT) has revealed that it has signed an agreement with WPD to acquire a 23 percent interest in Yunlin Holding GmbH, the owner of the Yunlin offshore wind farm located off the coast of Taiwan. In exchange for the 23 percent stake, Total outlined that it will pay WPD a consideration based on
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(Bloomberg) — Oil rose this month with a slew of positive economic data and signs of a budding fuel consumption revival in key economies offsetting a worsening coronavirus crisis elsewhere. Futures in New York rose this week, extending its monthly gain to 7.5%. The near-certain likelihood of higher fuel consumption in the U.S., China and the U.K
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(Bloomberg) — Vitol Group is buying Hunt Oil Co.’s Permian Basin business as the biggest independent crude trader makes a major move into the world’s busiest shale patch. The deal includes 44,000 acres across five counties in the Midland Basin of West Texas with the equivalent daily output of about 40,000 barrels of oil a
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Petronas LNG Ltd. has announced that it has signed a deal for three newbuild LNG vessels with shipowner Hyundai LNG Shipping (HLS). As part of the deal, HLS has signed shipbuilding contracts with Hyundai Heavy Industries (HHI) for the construction of the three vessels. Upon completion, the vessels will be among the most energy efficient
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McDermott International Ltd announced Wednesday that it has been awarded a Front End Engineering Design (FEED) contract from Michelin Group in France for “the first industrialization of an innovative plastic recycling process to produce regenerated styrene from polystyrene”. The regenerated styrene produced will be used in the production of synthetic rubber for tires and polystyrene,
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(Bloomberg) — Oil climbed by the most in nearly two weeks with the OPEC+ alliance and BP Plc pointing to signs of a robust demand recovery taking shape in parts of the world. Futures in New York jumped 1.7% on Tuesday. An OPEC+ committee decided this week to move forward with a planned gradual crude production increase,
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(Bloomberg) — Oil climbed in Asia with OPEC+ projecting a strong global recovery this year, even as a Covid-19 flare-up in India and other nations dragged on the near-term demand outlook. Futures in New York rose above $62 a barrel after slipping 0.4% on Monday. An OPEC+ technical committee raised its forecast for demand growth
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Technicians inspect the direct air capture system at the Carbon Engineering Ltd. pilot facility in Squamish, British Columbia, Canada, on Monday, Nov. 4, 2019. James MacDonald | Bloomberg | Getty Images Analysts on Wall Street believe a “hidden” investment opportunity in the energy sector could be instrumental as the world attempts to transition away from
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(Bloomberg) — Oil fell this week with spreading coronavirus cases in countries such as India tempering optimism around positive signs out of the U.S. and Europe. Futures in New York rose the most in over a week on Friday, but were unable to reverse a 1.6% weekly loss as the market weighed a global economic
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(Bloomberg) — Californian Governor Gavin Newsom will ban new hydraulic fracturing permits in the coming years as the state pushes to eliminate net greenhouse-gas emissions by 2045. His order Friday to halt new permits by January 2024 follows calls from environmental groups for executive action after two Democratic state senators failed to pass legislation that would prohibit
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(Bloomberg) — Oil edged higher as gains on signs of strengthening demand in key economies offset concern around the rampant virus resurgence in countries such as India. West Texas Intermediate snapped a back-to-back streak of declines after flipping between modest gains on losses on Thursday. Gasoline demand is improving in the U.S., while jobless claims in the
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(Bloomberg) — Oil fell for a second day with an increase in U.S. crude inventories compounding concerns around a choppy global demand recovery. Futures in New York fell 2.1% on Wednesday after a U.S. weekly inventory report showed the first gain in domestic crude supplies in a month. Meanwhile, a resurgent coronavirus in India is curbing fuel
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(Bloomberg) — Oil slumped the most in two weeks alongside a broader market rout as a resurgent virus in some of the world’s top oil importers highlighted the uneven road to recovery. West Texas Intermediate fell 1.5% to the lowest in a week as S&P 500 Index headed for its first back-to-back decline since late
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Huaneng Power Plant. Huai ‘an City, Jiangsu Province, China, September 13, 2020. Costfoto | Barcroft Media via Getty Images LONDON — Energy-related carbon emissions are on track to surge by nearly 5% this year, according to the International Energy Agency, reversing most of last year’s decline caused by the coronavirus pandemic. In the IEA’s Global
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(Bloomberg) — Oil edged higher with help from a weakening dollar while a worsening demand picture in parts of the world continued to hold back prices from another breakout. Futures in New York rose 0.4% Monday after trading in a $1 range during the session. Total road fuel sales in France remained lower compared to
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A pair of seasoned investors see Texas’ largest city as the prime place to foster the development of innovations to accelerate the transition away from oil and gas, and Rigzone’s downstream readers showed considerable interest in their rationale as presented by Bloomberg. Keep reading for a recap of this and other popular articles from the
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