Who Will Pay for the Energy Transition?
The transition from a fossil-fuel dominated energy system to one with zero emissions would require trillions of dollars of investment in new production, distribution and consumption equipment worldwide.New investments could support millions of new jobs in construction and manufacturing…
China Ramps up US Oil Purchases Ahead of Trade Deal Review
U.S. crude oil shipments to China will rise sharply in coming weeks, U.S. traders and shipbrokers and Chinese importers said, as the world’s top economies gear up to review a January deal after a prolonged trade war.Chinese state-owned oil…
Eni Splits Business into Renewables and Oil & Gas
Italian oil major Eni said on Thursday it was creating a division to focus on renewable energy, as part of a corporate reorganization.The overhaul, which Reuters reported on Wednesday, follows industry-wide upheaval as the coronavirus pandemic…
Total Keeps Dividend Steady in 'Exceptional Circumstances'
French energy major Total promised to pay a steady cash dividend and said it can break even with low oil prices after the impact of the coronavirus outbreak and a collapse in fuel demand led to a 35% first-quarter profit fall.It also raised its climate ambitions…
Shell Sets Oil Sector's Broadest Carbon Reduction Plans
Royal Dutch Shell on Thursday deepened its ambition to battle climate change, setting the oil and gas sector's broadest plan to reduce greenhouse gas emissions to net-zero by 2050.The new climate goals put the Anglo-Dutch company - at least…
Orsted Raises $660m Green Finance
Denmark-based energy giant successfully issued green hybrid capital securities for €600m ($660m) to refinance existing securities issued in 2015.The latest issue will have a maturity in 3019 and first call option after eight years, the Danish…
Corvus Energy Gets Shell Ventures Investment
Canadian-Norwegian battery maker Corvus Energy announced that it has finalized an investment deal with Shell Ventures.The investment is a step towards Shell’s ambition to decrease the carbon footprint of the energy products they sell by around 20% by 2035 and by around 50% by 2050…
For China, U.S. Soybeans are Small Fry
China's purchase of some U.S. soybeans is being viewed as a tentative sign of a little détente in the dispute between the world's two largest economies, but real progress would be a resumption of what had been a burgeoning energy trade.U.S.
Eni, Lombardy Pact on Sustainability
Italy's Lombardy Region and Italian energy company Eni signed a Memorandum of Understanding (MoU) for long-term sustainable growth at Eni’s refinery in Sannazzaro de' Burgondi.Attilio Fontana, President of the Lombardy Region, and Giuseppe Ricci…
Shell Joins Dutch Pension Fund to Bid for Eneco
British-Dutch oil and gas company Royal Dutch Shell and Dutch pension fund manager PGGM are considering a joint bid for Dutch producer and supplier of natural gas Eneco, which is heavily invested in sustainable energy projects and worth…
BP Targeted with First Shareholder Resolution on Climate Goals
Pressure on oil companies to tackle climate change is growing after an activist group for the first time filed a shareholder resolution urging BP to set hard targets for reducing overall carbon emissions.Follow this, a Dutch organization…
Tellurian in LNG Supply Deal with Vitol
Tellurian announced that its subsidiary, Tellurian Trading, has entered into a Memorandum of Understanding (MOU) with Vitol to supply 1.5 million tonnes per annum of liquefied natural gas (LNG) from Tellurian Trading’s LNG offtake capacity…
IFM, Vitol and VIP Take Joint Ownership of Vitol Tank Terminals International
Vitol Investment Partnership(VIP), an investment vehicle sponsored and managed by Vitol, and IFM Investors, a global provider of investment services to institutional investors, have agreed to acquire Buckeye Partners LP’s 50% equity interest in Vitol Tank Terminals International (VTTI)…
US Downplays Impact on LNG Exports from China Trade Spat
Growing demand from other countries for U.S. liquefied natural gas (LNG) means that the United States is not concerned about a decline in exports to China amid the trade dispute between the countries, a U.S. government official said on Monday.U.S.
US Energy Exports to China Plummet
It's probably not the kind of success U.S. President Donald Trump had in mind, but his trade dispute with China has effectively killed off the burgeoning energy trade between the world's two biggest economies.China's imports of U.S. crude oil…
Unipec Suspends US Oil Imports as Trade Spat Intensifies
China's Unipec, the trading arm of state oil major Sinopec, has suspended crude oil imports from the United States due to a growing trade spat between Washington and Beijing, three sources familiar with the situation said on Friday.The sources…
China Keeps LNG off Tariff List - for Now
China embroiled in festering trade dispute with United States even as Chinese imports of U.S. LNG expected to surge -Morgan Stanley. China's omission of liquefied natural gas (LNG) from its vast list of U.S. products that face hefty import…
China to Cut US Oil Imports Amid Trade Spat
Chinese oil buyers will keep taking crude from the United States through September, but plan to reduce future purchases to avoid a likely import tariff amid a trade spat between the world's two largest economies, multiple industry sources said.Beijing has put U.S.
Oil Traders Ready for Musical Chairs as China Tariffs Loom
Oil markets are bracing for a reshuffle of global trade flows as China threatens to impose tit-for-tat tariffs on imports of U.S. energy products, including crude.China, which has bought an average 330,000 barrels per day (bpd) of U.S. crude oil this year…
Algeria Plans Fuel Price, Tax Hike to Offset Fall in Energy Revenues
Algeria plans to raise prices of subsidised gasoline and diesel for a third straight year in 2018 to cut domestic consumption and imports at a time of growing pressure on state finances, according to an official document seen by Reuters.
