As major oil companies prepare to spend billions on renewable energy assets to stay relevant in a low-carbon future, the industry’s patchy track record on takeovers is red flag for some investors.
Ten years ago, the world’s top energy companies were spending billions of dollars on major oil and...
Gasoline consumption declined in the eighth month (July 21-August 21) of the Iranian calendar year by 30% compared to the corresponding period last year, a member of the Gasoline Station Owners' Association (GSOA) said.
“Fuel consumption crossed 110 million liters per day in 2019 between July-...
Furthering its commitment to decarbonizing the energy sector worldwide, Siemens Energy has been selected to provide its highly efficient gas turbine technology and long-term services to the planned 900 MW Cascade Power Plant in Alberta, Canada.
The project supports the decarbonization of...
Saudi Aramco discovered two oil and gas fields in northern parts of Saudi Arabia, the kingdom’s official news agency reported, citing Energy Minister Prince Abdulaziz bin Salman.
Gas has started flowing from Hadabat Al-Hajara field near the Iraqi border at an average daily rate of 16 million...
Oil rose on Monday, with Brent touching the highest in five months, underpinned by a 30% cut in Abu Dhabi crude supplies and encouraging Chinese data even as global demand struggles to return to pre-COVID levels in a well-supplied market.
Brent crude futures for November advanced to $46.50 a...
Canada’s capital spending on its oil and gas industry fell by more than half in the second quarter as the pandemic-inspired low prices continue to burden oil and gas producers with impossible breakevens.
Canada’s capital spending fell 54% in Q2, to $3.88 billion. This is down from $8.46 billion...
Oil rose towards $46 a barrel on Wednesday, near the highest since March, lifted by US producers shutting most of their offshore Gulf of Mexico output ahead of Hurricane Laura and a report showing a drop in US crude inventories.
Renewed worries over the Covid-19 pandemic, which has squeezed...
Iraq could lower its reliance on Iranian gas and electricity imports next year if (and when) OPEC's second largest oil producer can implement multi-billion deals signed with US companies and attract Saudi investments, the deputy prime minister said.
Iraq signed $8 billion worth of energy deals...
Crude oil prices rose on Monday as storms closed in on the Gulf of Mexico, shutting more than half its oil production, and on coronavirus optimism after US regulators approved the use of blood plasma from recovered patients as a treatment option.
Brent futures gained 9 cents, or 0.2%, to $44.44...
Oil prices climbed on Friday, on track for a third consecutive weekly gain, pulled higher by major oil producers’ efforts to hold back output amid concerns about economic recovery from the coronavirus pandemic.
US West Texas Intermediate crude futures rose 13 cents, or 0.3%, to $42.95 per barrel...