Abu Dhabi National Oil Co. formed an alliance with Mubadala Investment Co. and ADQ to produce hydrogen from renewable energy, known as green hydrogen. Abu Dhabi’s government-run oil company is teaming up with two of its sovereign wealth funds to turn the petroleum-rich emirate into an exporter of blue and green hydrogen. Abu…
Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they plan to press the incoming administration of U.S. President-elect Joe Biden to reverse a ban on crude-for-diesel swaps. The Trump administration since the last quarter of 2020 has barred companies from sending Venezuela diesel in exchange…
“Is Exploring For Oil Still Profitable?” Oilprice asked back in August. As the novel coronavirus has swept the world, stalling whole industries, tanking oil demand and prices, leaving legions of people jobless, and upending the natural order of things, everyone who has anything to do with the energy sector has found themselves asking these…
ABU DHABI, Abu Dhabi National Oil Company (Adnoc), the UAE’s biggest energy producer — has merged its downstream business with its trading and marketing operations to create the Downstream Industry, Marketing & Trading Directorate. The new unit “will be a critical enabler of the company’s goal to responsibly deliver the energy and energy…
KUALA LUMPUR: Malaysia is taking legal action at the global trade watchdog against the European Union and member states France and Lithuania for restricting palm oil-based biofuels, the government said. The world’s second largest palm oil producer, which has called a EU renewable-energy directive “discriminatory action,” is seeking consultations under the World Trade…
The Trump administration took another swipe at China and its biggest firms on Thursday, imposing sanctions on officials and companies for alleged misdeeds in the South China Sea and imposing an investment ban on nine more firms. The moves come just days before Trump steps down and President-elect Joe Biden takes office. Executives…
OPEC’s crude oil export revenues for 2020 could decline to $323 billion, the U.S. Energy Information Administration said in a new report, noting that this would be the lowest revenue level in 18 years.This would compare to $595 billion in oil revenues for 2019, the authority added. Unsurprisingly, the biggest chunk of OPEC’s…
OPEC, and especially OPEC+, has always seemed to be at odds with the U.S. shale industry. From the drastic oil embargos of the ‘70s to the all-out oil price war of 2020, OPEC policies have threatened to upend the United States’ use and production of crude. But the group’s latest policies may be a…
OSLO: A dozen workers at Norway’s Mongstad oil refinery could go on strike if an upcoming round of wage talks fails to result in agreement, Norway’s Safe labour union said on Friday. No date has yet been set for the negotiations, which will be led by a government-appointed mediator.In case of a protracted…
The American Petroleum Institute (API) today hosted its annual State of American Energy address, where it outlined actions the natural gas and oil industry is taking to support the nation’s economic recovery and a vision for an affordable, reliable and cleaner energy future. API President and CEO Mike Sommers headlined the event that drew more…
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