Oil and Chemical Giants Lobbying Against Rules on Microplastic Chemicals

The FINANCIAL — Trade groups representing the world’s biggest oil and chemical companies have been opposing a ground-breaking new proposal to regulate toxic and persistent chemicals in microplastics, according to documents obtained by Unearthed, Greenpeace UK’s investigative platform, Greenpeace International notes. “We…

7 mins read

BP Canada and Equinor made oil discoveries offshore Newfoundland, Canada

The FINANCIAL — Equinor (60%), and its partner BP Canada (40%), have made two oil discoveries offshore Newfoundland, Canada. The two wells at the Cappahayden and Cambriol prospects, drilled this summer in the Flemish Pass Basin, have proven the presence of hydrocarbons; however, it is too early to provide…

2 mins read

bp starts gas production from Qattameya field

The FINANCIAL — bp today announced the start of gas production from its latest development ‎offshore Egypt – the Qattameya gas field in the North Damietta offshore concession.  Through bp’s joint venture, Pharaonic Petroleum Company (PhPC), the field, which is ‎expected to…

2 mins read

ConocoPhillips to acquire Concho Resources for $9.7 bln

ConocoPhillips (NYSE: COP) and Concho Resources (NYSE: CXO) today announced that they have entered into a definitive agreement to combine companies in an all-stock transaction. Under the terms of the transaction, which has been unanimously approved by the board of directors of…

10 mins read

Oil price down as Trump tests positive for COVID-19

The FINANCIAL — Oil fell by 5% on Friday after Trump tested positive for coronavirus. It was already in negative territory after a bipartisan deal on U.S. stimulus continued to elude House Speaker Nancy Pelosi and the White House, adding to fears about worsening…

5 mins read

Stock markets mixed after Wall Street slides

The FINANCIAL — Global stock markets were mixed Monday after the fact that Wall Street turned in its biggest weekly decline in more than two months. London and Frankfurt opened higher. U.S. futures were lower. Benchmarks in Shanghai, Tokyo and Hong Kong retreated…

5 mins read

Oil prices fell by 30%

The FINANCIAL — Oil prices plunged on Monday by around 30% as Russia on Friday refused to join the Organization of the Petroleum Exporting Countries [OPEC] in a large production cut. Because of that Saudi Arabia launched an aggressive price war. Brent…

6 mins read

Oil prices are falling again

The FINANCIAL – Oil prices are plunging again. Opec members wanted to bring next week’s Vienna meeting forward to late February, but Russia would not agree. The plunge in oil prices has clobbered energy stocks, which entered a bear market late last…

5 mins read

Aasta Hansteen on Stream

The FINANCIAL -- On 16 December Equinor and its partners started production from the Aasta Hansteen gas field in the Norwegian Sea. Today, 17 December gas from the Aasta Hansteen field is available to the market for the first time and together…

3 mins read