Oil & Gas

BP (NYSE: BP) has announced that it and Aker are exploring a potential block sale of some of the shares they hold in Aker BP ASA through a private placement.  Aker and BP, which currently control approximately 40 percent and 30 percent of the shares outstanding in Aker BP, respectively, are said to be contemplating
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President Joe Biden’s administration is targeting one of the tougher sources of climate-warming greenhouse gases with a plan that calls for the U.S. aviation sector to reach net-zero emissions by 2050. Aviation has been more challenging to decarbonize than automobiles, which can essentially run on batteries, but Biden’s 40-page plan released Tuesday calls for increasing
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Oil and gas producer Occidental Petroleum Corp.’s move to hedge its output has been a roller coaster over the past two years.  Occidental, one of the Permian Basin’s biggest producers, lost an estimated $339 million from its oil and gas hedges this year through Sept. 30, the latest quarterly filing showed. That includes losses not
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Methane emissions intensity in the Permian Basin has dropped almost 70 percent between 2011 and 2020, even as oil and gas production rose by over 320 percent. That’s according to an analysis by Texans for Natural Gas (TNG), a project of the Texas Independent Producers and Royalty Owners Association (TIPRO). The analysis also highlighted that flaring intensity in the basin decreased by more than 50 percent
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U.S. Senator Joe Manchin (D-WV) walks through the U.S. Capitol in Washington, U.S., October 21, 2021. Elizabeth Frantz | Reuters Sen. Joe Manchin has been working to shrink or eliminate key elements of President Joe Biden and the Democratic Party’s massive social spending and climate proposal as several of his former advisors lobby Congress for
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              Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud speaks via video link during a virtual emergency meeting of OPEC and non-OPEC countries, following the outbreak of the coronavirus disease (COVID-19), in Riyadh, Saudi Arabia April 9, 2020. Saudi Press Agency | Reuters Forgive senior Saudi officials for their head-scratching in response to
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Oil pared its weekly loss as Saudi Arabia cranked up prices for its global crude exports and the U.S. demurred on a potential release of oil from the strategic reserve. Crude in New York shaved its weekly loss to 2.8%, rising sharply late in the session Friday after Saudi Arabia raised the official selling price
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British Prime Minister Boris Johnson and U.S. President Joe Biden react during the “Accelerating Clean Technology Innovation and Deployment” session during the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain November 2, 2021. Jeff J Mitchell | Reuters GLASGOW, Scotland — Climate campaigners and environmental activists have sharply criticized the organization of the COP26
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Suez Canal Authority will increase transit tolls by 6% for nearly all ships passing through the critical waterway from February, despite posting a banner year with record revenue during the coronavirus pandemic. The authority, in a statement published on its website Thursday, cited an International Monetary Fund and World Trade Organization estimate that global trade traffic
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Oil pumping jacks, also known as “nodding donkeys,” operate in an oilfield near Almetyevsk, Tatarstan, Russia, on Wednesday, March 11, 2020. Andrey Rudakov | Bloomberg | Getty Images Oil prices have hit their highest levels since 2014, and crude importing countries are feeling the pain. But despite diplomatic pressure, OPEC and its allies are unlikely
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CVR Energy Inc., the oil refiner controlled by billionaire investor Carl Icahn, may split off its renewable-fuels business to tap a broader universe of capital.  “We are taking a long-term view and want to prepare for the future,” CVR Chief Executive Officer Dave Lamp said during a conference call with analysts on Tuesday. “This could
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Bureau Veritas (BV) has been awarded a three-year contract by Ithaca Energy to deliver verification certification and classification services, and environmental verification and audit services for six assets in the UK North Sea. The six assets comprise the Captain platform, the Captain FPSO, the Alba North Platform and a namesake FSO, the normally unmanned installation
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