International

Oil Prices Rise as Optimism over Economy Outweighs Fuel Demand Concerns

Oil prices climbed on Tuesday as optimism that government stimulus will buoy global economic growth

Surging Libyan Oil Output Nears 1 Million Barrels a Day

Libya oil production is rising rapidly toward 1 million barrels a day, as a truce in the nation civil war allows the state energy firm to ramp up operations at previously idled fields and ports.

Energy group Equinor aims for net zero emissions by 2050

Norwegian energy company Equinor EQNR.OL aims to become a net zero emitter of greenhouse gases by 2050, including emissions from the production and final consumption of oil and gas, its new chief executive said as he took office on Monday.

Shell Acquires Full Control of Chinese Gas Station Joint Venture

Royal Dutch Shell Plc has acquired full control of one of its gas station joint ventures in China as the oil major doubles down on the fuel retailing market in the world’s second-largest ec

The ADIPEC Awards 2020 goes virtual for 10th anniversary

The Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) Awards, the prestigious annual programme hosted by ADNOC that honours, recognises and celebrates the best-in-class across the global oil and gas industry, will see its accolades presented in a virtual ceremony for the first time in its 10-year history this month

OMV and Mubadala complete Borealis transaction for $4.68bn

Abu Dhabi-based Mubadala Investment Company, and Austria OMV, have completed the transaction for OMV to acquire an additional 39 per cent stake in chemical company Borealis from Mubadala.

BP to close Australian oil refinery, losses seen outlasting pandemic

BP plc plans to stop producing fuel in Australia and will convert its loss-making Kwinana oil refinery, the biggest of the country four, into a fuel import terminal because of tough competition in Asia, the global major said on Friday.

Petronas is Asia first oil company to set net zero target

Malaysian state-owned energy firm Petronas has declared that it will be carbon neutral by 2050.