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Search Results for Oil
Traders Bet their Oil Storage Assets that OPEC Cuts Will Work
The jury is still out on whether OPEC can rein in a global oil glut but top commodity traders are betting it can by selling stakes in storage tank businesses that profited from oversupply. Since January, Glencore, Vitol and Gunvor…
MEPs vote to ban the use of palm oil in biofuels
MEPs have voted overwhelmingly to ban biofuels made from vegetable oils including palm oil by 2020, to prevent the EU’s renewable transport targets from inadvertently contributing to deforestation. A new palm oil regulation, minimum sustainability criteria, customs duty reforms and…
SSE and Statoil Buy Out Statkraft’s Stake in Dogger Bank Offshore Wind Pojects
Statkraft has sold its entire stake in four planned offshore wind projects in the Dogger Bank zone off the North East coast of England, with SSE and Statoil snapping up the 25 per cent share held by the Norwegian energy…
Iran to Sell Russia 100,000 Barrels of Oil per Day – State TV
Iran announced on Tuesday it will begin selling 100,000 barrels of oil per day to Russia within the next 15 days and receive payment half in cash and half in goods and services, the Iranian Students’ News Agency (ISNA) reported.…
Statoil Eyes Wind Growth
Norwegian oil major Statoil plans to invest up to 20% of capital expenditure in other areas, such as offshore wind, by 2030. Chief executive Eldar Saetre said in a presentation of the company’s 2016 results that between 15% and 20%…
Trump Clears Way for Controversial Oil Pipelines
U.S. President Donald Trump signed orders on Tuesday smoothing the path for the controversial Keystone XL and Dakota Access oil pipelines in a move to expand energy infrastructure and roll back key Obama administration environmental actions. Oil producers in Canada…
Solar Employs More Workers Than Coal, Oil and Natural Gas Combined
U.S. solar employs more workers than any other energy industry, including coal, oil and natural gas combined, according to the U.S. Department of Energy’s second annual U.S. Energy and Employment Report. 6.4 million Americans now work in the traditional energy…