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Summary Increase effective from Nov. 1 Tax rate would be among highest in the world Government says change will help shift to renewable energy (Reuters) – British government plans to increase a windfall tax on North Sea oil and gas producers would lead to a nearly 12 billion pound ($16 billion) drop in revenue to …
By Reuters (Reuters) – Iraq plans to offer 10 gas exploration blocks to U.S. companies during an upcoming visit by Oil Minister Hayan Abdel-Ghani to the United States, he announced on Saturday. The move is part of Baghdad’s efforts to attract U.S. investment into its energy sector, following previous licensing rounds where Chinese firms secured the majority of …
Iraq Seeks U.S. Investment in Gas as New Projects Target Energy Independence Read More »
(Reuters) – OPEC+ is set to proceed with a planned oil output hike from October, as Libyan outages and pledged cuts by some members to compensate for overproduction counter the impact of sluggish demand, six sources from the producer group told Reuters. Eight OPEC+ members are scheduled to boost output by 180,000 barrels per day …
OPEC+ Likely to Proceed with Planned Output Hike from October Read More »
BP shares have slumped 12% since the end of March, while Shell has risen 3.4% Bloomberg News London’s old-school oil stocks are no longer moving in tandem, as BP Plc underperforms Shell Plc due to concerns over the former’s green-energy transition and the outlook for earnings and shareholder payouts. August is set to mark the fifth-straight month that BP …
BP Stock Falls Behind Shell as Investors Shy Away From Green Energy Read More »
(Reuters) – Japanese start-up Helical Fusion aims to launch the world’s first steady-state nuclear fusion reactor in 2034 and to begin commercial operations in the 2040s, its CEO told Reuters. Despite global efforts to harness fusion, the reaction that powers the sun, to produce emissions-free power, 70 years of research have yet to produce a commercially viable …
Japan Start-up Aims to Launch World’s First Steady-State Fusion Reactor in 2034 Read More »
(Reuters) – Asia’s imports of crude oil lifted in August from the two-year low in July as top-importing heavyweights China, India, South Korea and Japan brought in more barrels. Total imports for August are expected to be 26.74 million barrels per day (bpd), up from July’s 24.56 million bpd, according to data compiled by LSEG …
Asia’s Crude Oil Imports Stage Modest Recovery in August: Russell Read More »
By Gavin Maguire LITTLETON, Colorado, Aug 29 (Reuters) – Global electricity generation from solar farms has exceeded generation from wind farms since May, marking the longest ever stretch when solar power has been the top source of utility-scale renewable electricity worldwide. Solar electricity generation exceeded wind generation in May by 1.65 terawatt hours (TWh), and …
Global Solar Generation Overtakes Wind for Longest Ever Stretch Read More »
Global oil markets continue to flash warning lights as OPEC+ prepares to decide on reviving production. This week, Goldman Sachs Group Inc. and Morgan Stanley cut forecasts for crude prices amid a faltering demand outlook in China and plentiful production from across the Americas. Even more ominous for bullish investors is how calmly the market shrugged off …
Oil Market Warnings Grow as OPEC+ Decision Nears Read More »
Summary Company is working with partner Ithaca to develop Rosebank field Labour has said it will hike windfall tax by 3 percentage points STAVANGER, Norway, Aug 28 (Reuters) – Norway’s Equinor may reconsider investing in oil and gas in Britain if the Labour government changes the industry’s tax regime, a top company executive told Reuters. …
Equinor May Reconsider Investing in UK Oil Sector if Tax Regine Changes Read More »
(Reuters) – Venezuela’s President Nicolas Maduro is getting ready to announce executive changes at state-owned company PDVSA and the oil ministry, part of key official moves following a disputed election, three sources with knowledge of the preparations said. The changes could include replacing PDVSA’s chief executive, Pedro Tellechea, with the company’s current vice president, Hector …
Venezuela’s Maduro Prepares Executive Changes at State Oil Firm PDVSA, Sources Say Read More »
