BP Sees Up To $5B Impairments Tied to Low Carbon Assets
BP PLC said Wednesday it expects to book $4-5 billion in write-downs primarily related to its “transition” business for the fourth quarter of 2025. “These charges are primarily attributable to…
Waga Energy awarded CA$15m for Quebec biomethane project
Waga Energy has been awarded financial aid of CA$15m ($10.8m) from Quebec’s Ministry of Economy, Innovation, and Energy for a biomethane production project. It will finance part of the construction…
Norway’s Avinor begins liquefied biogas power pilot at Arctic airport
Norway-based state-owned airport operator Avinor has launched a pilot project using liquefied biogas to generate electricity and heat at Svalbard Airport in Norway. The combined heat and power (CHP) plant…
Shipping Firms Scrambling to Expand Capacity for Venezuela Oil Transfers
Oil traders and shipping companies are scrambling to expand tanker operations to move Venezuelan crude as Washington prepares to take delivery of sanctioned oil following the ouster of President Nicolás…
Enverus: Venezuela To Increase Oil Output 50% By 2035
Industry consultant Enverus has predicted that Venezuela will increase oil production 50% and hit 1.5 million barrels a day by 2035 following the capture of long-time leader Nicolas Maduro by…
Kazakhstan Cut December Oil Output By 230 Kb/d
Kazakhstan cut oil production in December by more than 200 Kb/d, with output averaging 1.522 million barrels per day in the final month down from 1.759 mb/d in November. December…
Citi Sees $70 Brent in Near Term as Geopolitical Risks Mount
Brent Crude prices have the potential to hit $70 per barrel over the next three months amid heightened geopolitical risks, according to analysts at Citi. The investment bank raised its…
China’s Imports of Venezuelan Oil Set to Crumble
China is expected to see a plunge in imports of oil from Venezuela in February as the now month-long U.S. blockade has prevented many China-bound cargoes from leaving Venezuelan waters. …
Shell and Exxon Cancel North Sea Gas Asset Sale to Viaro Energy
ExxonMobil and Shell have decided not to proceed with a planned sale of their joint assets in the southern UK North Sea to Viaro Energy. Despite months of work to…
UK Awards Record Offshore Wind Capacity in Latest Auction
The UK on Wednesday awarded a record-breaking 8.4 gigawatts (GW) capacity of offshore wind in its latest auction round, which puts Britain “firmly on track to achieve its clean power…
