UK ministers are considering a ban on new oil exploration licenses in the North Sea as a move away from fossil fuels, a step that could hit jobs and the Scottish economy, the Telegraph reported.
Shell snapped up the largest amount of North Sea oil in over a decade during the market’s main trading window for physical cargoes, underpinning signs of sharply tightening supplies.
Oil fell below $42 a barrel in New York as OPEC+ gathered to assess its supply deal, with countries struggling to contain the virus that’s hurt economies and fuel demand globally.
Oil headed for its biggest weekly drop since 2008 as an unprecedented dual supply-demand shock showed no signs of abating.
German utility RWE has completed construction of a 100-megawatt solar farm in heart of the West Texas oil patch.
American billionaire and Democratic presidential contender Michael Bloomberg has said the next US leader should halt fossil fuel subsidies altogether.
Energy firm Enel announced yesterday that it would sell wind energy from its Illinois wind farm to financial news firm Bloomberg and General Motors.
Exxon Mobil Corp. may have lost as much as a year’s worth of emails that former chief executive officer Rex Tillerson used to discuss climate change risks and other sensitive issues under the alias ‘Wayne Tracker,’ a lawyer for New York state has told a judge.
The global drop in oil price has impacted on the fortunes of some of Russia’s best known businessmen.
It’s the cheapest opportunity in six years to be a shareholder in Europe’s largest oil and gas company.
Technip SA swung to a loss in the second quarter after Europe’s biggest oil-services provider took a writedown amid an industry downturn it expects to last for longer than anticipated.