Rosneft denies reports that 'evil Sechin’ plans to takeover Russian oil giants
Rosneft is Russia's largest oil company. It denied any reports that it was planning to take over a large chunk of the Russian Oil Sector. They said these reports were an attempt to portray its CEO, Igor Sechin as a bad influence. The Wall Street Journal reported on Russia's plans to merge Rosneft with Gazprom, Lukoil and Lukoil.
WSJ reports that Russia is exploring a plan to merge Rosneft, a Gazprom subsidiary, and Lukoil.
The Wall Street Journal reported that Russia is working on plans to merge Rosneft oil, a state-backed company, with Gazprom, creating the second-largest crude oil producer in the world. The newspaper reported that executives and government officials have been in talks over the last few months.
Chubu Electric, Japan, plans to increase its investment in renewable energy and SMR overseas
A company executive revealed that Chubu Electric Power, Japan, plans to invest further in overseas decarbonisation projects, such as renewable energy, small-modular reactors (SMRs), or carbon capture and storage (CCS) to fuel the future growth of the company. Chubu, the major regional electric utility in Japan, announced a long-term plan for 2021.
OPEC rebuts WSJ Article on Saudi Saying Oil Prices Could Drop to $50
OPEC rebutted a Wall Street Journal article on Wednesday. It called it inaccurate and misleading, stating that Saudi Arabia's Energy Minister warned oil prices would drop to $50 if OPEC+ member countries did not adhere to production limits agreed upon. Unidentified delegates of the oil producers'…
Wall Street Journal Sept. 27
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. U.S. Antitrust enforcers will bar Hess CEO John Hess joining the board at Chevron in a deal that approves a $53 Billion tie-up between Hess & Chevron. Accident…
TSX reaches record high in anticipation of a larger US rate reduction
Canada's main index of stocks hit another record on Friday, in a rally that was led by mining companies. Investors reacted to the overnight surge in expectations for a large U.S. rate cut next Monday. The Toronto Stock Exchange’s S&P/TSX Composite index rose 143.04 or 0.61% to 23,618.73, and was on track to extend its record-breaking run.
EU Probes Chinese Subsidies and Imports
The European Commission proposed on Tuesday final duties up to 36.3% for imported electric vehicles manufactured in China. This is part of the most high-profile EU investigation into alleged Chinese subsidies, which has provoked threats from Beijing. The EU has also begun investigations to determine…
Source: Natron plans to build a $1.4 billion sodium-ion batteries plant in North Carolina
Sources familiar with the situation said that Natron Energy is planning to invest $1.4 Billion in a manufacturing plant for sodium-ion batteries in North Carolina. This could potentially increase the company's capacity by 40 fold. The battery storage facility in Edgecombe County, North Carolina…
Exxon in Advanced Talks for $60B Acquisition of Pioneer - Sources
Exxon Mobil is in advanced talks to acquire Pioneer Natural Resources in a deal that could value the Permian shale basin producer at about $60 billion, people familiar with the matter said on Thursday. The acquisition would be Exxon's biggest since its $81 billion deal for Mobil in 1998 and would…
Energy @ Sea: Powering Up in the Blue Desert
Last year marked the beginning of the United Nations Decade of Ocean Science for Sustainable Development, lasting from 2021 until 2030. With 10 years comes 10 challenges—goals for regional, national and global participants to work towards for positive, collective impact on our oceans. Included in the 10 are ocean-based solutions for climate change…
Pick your Poison: NOAA Study Finds Less Air Pollution brings more Hurricanes
A new study from NOAA finds that reducing air pollution in North America & Europe brings more hurricanes; increased pollution in Asia reduces tropical cyclonesA NOAA study published in the journal Science Advances about four decades of tropical cyclones reveals the surprising result that reducing…
Exxon Considers Pledging Net-zero Carbon Emissions by 2050
Exxon Mobil Corp is considering a pledge to reduce its net carbon emissions to zero by 2050, the Wall Street Journal reported on Thursday, citing people familiar with the matter.The report comes more than two months after the oil major's shareholders cast out three Exxon directors for the nominees…
Exxon Lowers Oil Price Outlook for Much of the Next Decade
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US Crude Futures Plunge to Lowest on Record
U.S. crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $37.63 a barrel as desperate traders paid to get rid of oil.Brent crude, the international benchmark, also slumped, but that contract was…
Oil Falls as Coronavirus Hits Demand
Oil prices fell on Monday, dragged down by concern over demand in China after the coronavirus breakout, though the possibility of deeper crude output cuts by OPEC and its allies offered some price support.Brent crude was down $1 at $55.62 a barrel by 1434 GMT, its lowest since January last year.U.S.
Oil Posts Biggest One-day Gain After Trump Touts Saudi-Russia Deal
Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.Trump said he had spoken to Saudi Crown Prince Mohammed bin Salman…
McDermott Bankruptcy Filing Imminent -Bloomberg
Oilfield services provider McDermott International Inc is preparing to file for bankruptcy as soon as next week, Bloomberg reported on Friday, citing people with knowledge of the matter.The company did not immediately respond to a request for comment by Reuters.McDermott is discussing a restructuring plan in which its debt could be converted into equity…
Trump Administration Sidelines Offshore Drilling Plan
The Trump administration will hold off on issuing its plan to expand offshore drilling as it weighs what to do after a March court ruling that blocked drilling in the Arctic and Atlantic, Interior Secretary David Bernhardt told The Wall Street Journal.The newly confirmed secretary said the agency's five year plan for oil and gas drilling on the Outer Continental
Oil Climbs as OPEC Output Drop Eases Concerns About Glut
Oil prices rose on Friday after an OPEC report showed its production fell sharply last month, easing some concerns about prolonged oversupply.Brent crude was up 48 cents, or 0.78 percent, at $61.66 a barrel at 1450 GMT. Brent has risen around 2 percent this week, its third straight week of gains.U.S.
Sea Breeze Study May Aid US Wind Farm Developers
A team of researchers at Rutgers University has used new forecasting methods to predict offshore sea breeze patterns on the Jersey Shore — data that could be useful for companies hoping to build wind farms off Atlantic City."The proposed, multimillion-dollar offshore wind farms industry may benefit…
