CDN and International News

Auto Added by WPeMatico

Jet Fuel Demand Growth Lags as Air Traffic Exceeds Pre-Pandemic Level

Global flight activity passed pre-pandemic levels for the first time in four years last week, but jet fuel demand growth has not kept apace as newer fleets of aircrafts become more fuel efficient and carry more passengers. Aviation fuel, a product refined from crude oil, has been the single biggest contributor to oil’s post-pandemic bonanza, …

Jet Fuel Demand Growth Lags as Air Traffic Exceeds Pre-Pandemic Level Read More »

BP Reshapes Its Leadership Team as Some Executives Leave

New CEO Auchincloss seeks to simplify BP’s corporate structure Retiring gas and power chief Dotzenrath is replace by Lin BP Plc restructured its top management as the departure of some executives allowed new Chief Executive Officer Murray Auchincloss to put his mark on the oil and gas giant. The executive leadership team will be reduced to 10 members …

BP Reshapes Its Leadership Team as Some Executives Leave Read More »

Abu Dhabi’s TAQA Confirms Naturgy Shareholder Talks as it Eyes Full Takeover

(Reuters) – Abu Dhabi’s TAQA  is in discussions with the three largest shareholders of Spanish energy firm Naturgy, it said on Wednesday, with a view to a possible full takeover bid for the company. Criteria, the main shareholder in lender Caixabank owns a 26.7% stake in Naturgy, which has a current overall market value of 22 billion …

Abu Dhabi’s TAQA Confirms Naturgy Shareholder Talks as it Eyes Full Takeover Read More »

Canada to Give Indigenous Groups Loan Guarantees for Resource Projects

Canada will provide up to C$5 billion ($3.6 billion U.S.) in loan guarantees to help Indigenous groups invest in natural resource projects, the Liberal government said in its annual budget on Tuesday. The program could give the groups major investment opportunities, from the government-owned Trans Mountain oil pipeline to TC Energy’s Coastal GasLink pipeline, power lines …

Canada to Give Indigenous Groups Loan Guarantees for Resource Projects Read More »

Canada to Give Indigenous Groups Loan Guarantees for Resource Projects

Canada will provide up to C$5 billion ($3.6 billion U.S.) in loan guarantees to help Indigenous groups invest in natural resource projects, the Liberal government said in its annual budget on Tuesday. The program could give the groups major investment opportunities, from the government-owned Trans Mountain oil pipeline to TC Energy’s Coastal GasLink pipeline, power lines …

Canada to Give Indigenous Groups Loan Guarantees for Resource Projects Read More »

Canada’s Trans Mountain Pipeline Expansion Could be Trouble for OPEC Member Iraq

Pipeline will almost triple shipments, bringing oilsands into direct competition with Iraq crude Bloomberg News Canada’s newest oil pipeline may spell trouble for a Middle Eastern country almost 7,000 miles away: Iraq. The Trans Mountain pipeline’s expansion, which will almost triple Alberta oilsands producers’ ability to ship their heavy crude to the Pacific Coast, will most directly affect …

Canada’s Trans Mountain Pipeline Expansion Could be Trouble for OPEC Member Iraq Read More »

New Wind Installations Hit a Record Last Year, Report Says

(Reuters) – The global wind industry installed a record 117 gigawatts (GW) of new capacity last year but needs to add triple this amount annually by the end of the decade to meet climate targets, according to an industry report on Tuesday. The Global Wind Energy Council (GWEC) report said capacity installation last year was …

New Wind Installations Hit a Record Last Year, Report Says Read More »

Possible BP Bid Highlights ‘London for Sale’ Scenario

Possible BP bid highlights ‘London for sale’ scenario (Reuters) – The emergence of a possible bid for BP  by the United Arab Emirates’ state-owned oil group has thrown a spotlight on the vulnerability of the Britain’s largest companies to takeover and the threat to London as a global capital markets hub. New York’s larger investor base and …

Possible BP Bid Highlights ‘London for Sale’ Scenario Read More »

Exxon Moves Forward with Sixth Oil Project in Guyana, Targets 1.3 million Bpd Output

Exxon Mobil has made a final investment decision for its sixth oil development project in offshore Guyana after receiving the required government and regulatory approvals, the company said on Friday.A consortium led by Exxon began crude output in Guyana in 2019, and has ramped up production to some 650,000 barrels per day (bpd) this year. …

Exxon Moves Forward with Sixth Oil Project in Guyana, Targets 1.3 million Bpd Output Read More »

UAE’s ADNOC Recently Eyed BP as Takeover Target

The United Arab Emirates’ state-owned oil company recently considered buying Britain’s BP but the deliberations did not progress beyond preliminary discussions, people familiar with the matter told Reuters. Abu Dhabi National Oil Company (ADNOC) ultimately decided BP would not be the right fit for its strategy, three people said. Political considerations also weighed on the …

UAE’s ADNOC Recently Eyed BP as Takeover Target Read More »