Wednesday, November 27, 2024
Column: Ensuring the energy transition is equitable- oil and gas 360

Column: Ensuring the energy transition is equitable

Reuters LONDON  – Phasing out consumption of fossil fuels in favour of zero-emission sources of energy will cause major social and economic disruption, creating a large number of losers as well as winners. Policymakers have begun to focus on the need for a just or equitable transition to address some of these impacts and broaden political support for ambitious decarbonisation.

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories decrease by 3.5 million barrels

Weekly Crude Oil Storage as of April 2, 2021   U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.5 million barrels from the previous week. At 498.3 million barrels, U.S. crude oil inventories are about 3% above the five year average for this time of year, according to the EIA crude oil and petroleum

China drills deep in disputed South China Sea- oil and gas 360

China drills deep in disputed South China Sea

Reuters BEIJING – China has drilled deep in the South China Sea to retrieve sediment core from the seabed, state media reported on Thursday, amid tensions over disputed waters with rival claimants Taiwan and the Philippines, as well as with the United States. Chinese scientists on a marine research vessel used China’s home-made “Sea Bull II” drilling system to obtain

Exxon says it may close down its oil refinery in Norway- oil and gas 360

Exxon says it may close down its oil refinery in Norway

Reuters OSLO – Exxon is considering whether to close down its Slagen oil refinery in Norway, which has a capacity to process 120,000 barrels of crude per day, turning the site into an import terminal, the U.S. energy major said on Thursday. The refinery at Slagentangen near Toensberg in south-east Norway was built in 1961 and process crude oil from

Valero warns of bigger first-quarter loss on costs from Texas deep freeze- oil and gas 360

Valero warns of bigger first-quarter loss on costs from Texas deep freeze

Reuters U.S. refiner Valero Energy Corp on Thursday warned that its first-quarter loss would exceed the previous three months, joining the ranks of energy firms hit hard by the severe winter storm in Texas in February. The cold wave in U.S. central and southern states has disrupted power and gas supply and knocked refineries, oil production and chemical plants out