Category: News & Announcement

Italian energy firm Eni is taking a 20% stake in what is set to be the world’s largest offshore wind farm. The energy firms Equinor and SSE are both selling 10% stakes in the first two phases of the project, which is situated off the U.K. coast. Eni will now take a share of Dogger Bank A & B, which will have a combined capacity of 2.4 gigawatts when fully operational. Upon completion of the deal, Equinor and SSE’s share in Dogger Bank A & B will still amount to…

Read More

Saudi Arabia’s crude oil exports to the United States fell to the lowest in 35 years in October, averaging less than 100,000 bpd, Bloomberg reported, citing preliminary and historical data from the Energy Information Administration. In the week to November 27 alone, the volume of Saudi oil shipments to the U.S. fell to as little as 73,000 bpd. The average daily volume for October beat another low, recorded for August, at 177,000 bpd, as OPEC’s top producer and exporter tried to tighten crude oil supply amid plummeting prices. To compare,…

Read More

Days after reports emerged that the newly opened Belarus nuclear power plant suffered an incident, authorities in neighboring Lithuania told the Baltic country’s population on Thursday to stock up on food in case of an incident at the nuclear power facility in Belarus, which is just 30 miles away from Lithuania’s capital city Vilnius. “We recommend that the population create a stock of essential products for three days,” Mindaugas Bayarunas, a representative of the Ministry of Internal Affairs of Lithuania, said on the national radio on Thursday, as carried by…

Read More

Islamic State militants launched a rocket strike against an Iraqi refinery causing its shut-down, Reuters has reported, citing officials from the facility. In a statement on the terrorist group’s official channel, IS took responsibility for the attack, which caused a fire at a fuel storage tank, which has been put under control. “We completely shut down production units to avoid extensive damage that could result,” one of the Reuters sources said. The Siniya refinery, located in Northern Iraq, has a daily processing capacity of 300,000 bpd. Operations at the facility…

Read More

The United States government is set to add Chinese state oil company CNOOC to a blacklist of companies with ties to the Chinese military, Reuters has reported, citing sources and a document. The move is the latest escalation in the U.S-Chinese trade spat and comes less than two months before the administration changes. So far, the Department of Defense has designated 31 Chinese companies from various industries as either owned or controlled by the country’s military. Earlier this month, Reuters reported the DoD will add another four. CNOOC and a…

Read More