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MEXICO: Discovered Richest Oil Field in 15 Years
Mexico’s Pemex Company reported that the new oil field is of great economic importance due to its location next to existing oil production infrastructure. Mexico’s President said that the oil will be produced at a low cost due to the…
Oil Pollution Changes Fish Behaviour
Limiting industrial pollution like petroleum-based oil could be key to preserving ecosystems like the Great Barrier Reef, a new study has found. The world-first research found the presence of the substance caused six fish species that inhabit the Queensland reef…
Veolia Partnership Gears Up to Recycle Former Shell Oil Rig
Veolia-Peterson is gearing up to recycle a former Shell offshore oil rig, after the top platform of the structure arrived for decommissioning in Great Yarmouth yesterday. The company, a joint venture between resources firm Veolia and logistics specialist Peterson, has…
Oil Giants Need to Invest Heavily in Renewables by 2035, Says Analysis
More than a fifth of investment by the largest oil and gas companies could be in wind and solar power in just over a decade, according to analysis of how global changes in energy will reshape the sector. Slowing demand…
CO2 Levels Heading Back to the Days of the Dinosaur
If humans burn all the fossil fuels at their disposal—and this could happen in the next two centuries—researchers predict that the planetary atmosphere would match the one that witnessed the days of the dinosaurs at the dawn of the…
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…
‘First-Of-A-Kind’ $3bn Green Capital Note Issued by Crédit Agricole
New York investors Mariner Investment Group have this week purchased a “first-of-a-kind” Green Capital Note from French Bank Crédit Agricole CIB, taking on the portfolio risk of a range of the bank’s projects in the power, oil and gas, real…