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Oil continued its recovery from a three-month low as traders reassessed the threat to demand from China’s coronavirus, and as U.S. industry data showed a drop in crude inventories. Futures traded near $54 a barrel in New York in tandem with improved sentiment across financial markets, which pushed equities slightly higher. While the number of
An Israeli cybersecurity firm has identified a new type of ransomware that it believes was created by Iran and has the ability to lock up or even delete industrial control systems. Tel Aviv-based Otorio, a cybersecurity firm which specializes in industrial control systems (ICS), said that the ransomware called “Snake,” like others of its kind,
The National Oil Company of Senegal, PETROSEN, officially launched the country’s first ever offshore licensing round at the MSGBC Basin Summit & Exhibition in Dakar, Senegal. The licensing round comprises 12 blocks on offer in the MSGBC basin, offshore Senegal. Companies will be able to submit bids over the coming six months, with final applications
It’s almost as if the last decade never happened for investors of Exxon Mobil Corp. shares. Once the gold-standard of Big Oil, the stock closed Monday at its lowest since October 2010, amid a slump in oil prices due to concerns about weak demand coupled with a glut. The S&P 500 also posted its worst
The world’s largest energy traders enjoyed one of their best ever years in 2019 as pipeline outages, dramatic changes in ship fuel regulations and Middle East conflicts shook up the global oil market. The bonanza extended beyond the independent traders like Vitol Group and Trafigura Group Ltd. to the in-house units of oil giants Royal
The hearing into the the 2013 fatal Sumburgh helicopter crash got underway yesterday at Aberdeen Sheriff Court. The preliminary hearing opened with Sheriff Pyle launching an attack on the legal system for forcing families to wait a “deplorable” seven years for an inquiry into the tragedy. The hearing proceeded a fatal accident inquiry that should
BP’s outgoing CEO Bob Dudley warned Big Oil of moving too fast on investing in new technologies to counter climate change, because their failure could lead to financial ruin. “If you go too fast and you don’t get it right you can drive yourself out of business,” Dudley said in a Columbia Energy Exchange podcast
Energy stocks have quickly reverted to being among 2020’s worst performers as fears increase that China’s deadly coronavirus will hit oil demand. The S&P 500 energy index fell as much as 2.2% early Monday, extending its drop for a sixth-straight session. The group is down over 7.5% this month as West Texas Intermediate hovers just
HOUSTON, January 16 2020 – DecomWorld – part of Reuters Events- today announced additions to the industry leading speaker faculty for their flagship Decommissioning and Abandonment Summit 2020. The Summit will bring together over 500 industry leaders, 50+ expert speakers, and 30+ exhibitors to a central global meeting place in Houston, Texas for DecomWorld 2020. DecomWorld
Total is being sued by 14 local governments and a handful of non-governmental organizations in France for not doing enough to reduce its carbon emissions and fight global warming. The legal challenge is the latest sign that the biggest oil companies are coming under increasing pressure from activists, investors and governments to cut emissions as