Industry & technology

carbon

BP is expanding its team working on carbon capture and storage projects as part of its ambition to zero out net greenhouse-gas emissions by 2050. The oil major has added staff over the past 12 months and is reorganizing teams that have been dispersed within different units of the company, a spokesperson confirmed. The moves …

OPEC

Russia’s key oil producers voiced support for the idea of extending OPEC+ output cuts into the second quarter, as the global oil market awaits a definitive response to the coronavirus outbreak. Executives who attended a meeting with Russian Energy Minister Alexander Novak on Wednesday said there was no final decision and gave no indication of …

coronavirus

The coronavirus epidemic in China has triggered restrictions in the country’s public transport and air travel, both at a domestic and an international level, reducing demand for oil, which has lost about a fifth of its value since the start of the year, according to a latest report by Norwegian energy intelligence firm Rystad Energy. …

LNG

Two of Europe’s biggest energy companies rejected a Chinese force majeure on liquefied natural gas contracts in the latest twist to a drama that’s gripping global commodities markets. Shell and Total didn’t accept the legal grounds for the move by CNOOC that would have freed it from its contractual obligations to take delivery of the …

carbon

Norwegian oil major Equinor has launched a new climate roadmap for the upcoming period of energy transition, in line with the Paris Agreement. Equinor said on Thursday that it would reduce the net carbon intensity, from initial production to final consumption, of energy produced by at least 50 percent by 2050. Also, it would grow …

new minister

Norwegian government has appointed Tina Bru as the country’s new Minister of Petroleum and Energy, replacing Sylvi Listhaug. Listhaug has only been in the office for a month. Her appointment to the minister of petroleum role was made in December 2019. Before that, she had held a position in Norway’s Ministry of Health and Care …