Russia produced 10.91 million barrels per day in March. This recorded as the highest in 30 years and raising the doubt on the production freeze.
Energy
LNG price continues to fall amid oversupply from producers
LNG supporters are worried about the continuous fall in the industry amid oil price recovery. Liquefied natural gas prices continue its downhill slide despite a 50% surge in Brent oil prices.
Exxon Mobil to shell out $10.75mln to New York over oil spill cleanup costs
Exxon Mobil Corp will pay $10.75 million to New York State reimbursing costs on oil spill cleanup. The payment will cover New York Environmental Protection and Spill Compensation fund's costs.
Major Oil Companies Fund Nigeria's $200 Million Fuel Imports
Nigeria is suffering from fuel shortages as well as lack of hard currency. Four major oil companies agreed to finance the country’s $200 million fuel import along with the lack of the dollars to sustain the country’s fuel needs.
Turkmenistan-Afghanistan-Pakistan-India (TAPI) Pipeline Project Secured $200 Milion Investment from Shareholders
Turkmenistan-South Asia natural gas pipeline project has secured $200 million of investment from its shareholders. The project, developed by the Asian Development Bank, will now begin important studies to determine the projects detailed costs, routes, and other environmental as well as social factors.
Latest News
BayWa has partnered with Spruce Finance to provide finance products for its solar distribution clients in the US. With regard to this partnership, dealers across the US will have access to loan products from Spruce Finance.
Meketa Investment Group has increased its employee ownership team. It has included seven new shareholders into employee ownership team. Meketa is optimistic on adding new expertise and talent that supports its business expansion plan across different geographies.
Abu Dhabi's TAQA is cutting its capital expenditures by reducing its workforce around the globe and sells it assets to recover from its losses.
Rosneft, the Russia-based oil firm, has promised to make investments of roughly EUR 13 billion annually through 2018, which is an increase of 30% for the year 2016.
Tesla launched Powerwall last year as a residential backup power supply. However, as the market is not enthusiastic, the company quietly remove one of its product.
After moving its headquarter for six years in Swiss, the petrochemical giant sets to return home. Founder and CEO Jim Ratcliffe planned to relocate its headquarter back to England.
Royal Dutch Shell is reportedly seeking buyers for its North Sea assets following the merger with BG. The oil company intends to raise $30 billion from the sale of its global assets in order to balance the BG merger expenses.
Investments in renewable energy soared high with China and India leading the emerging markets in their commitments in the wind and other related renewable sources. India, China and Brazil outstripped developed nations in 2015 renewable investments.
Toscana Energy said that Anand Ramnath has been named as chief financial officer with effect from March 18, 2016. Ramnath, with more than 19 years of experience in financing and accounting, has been the acting chief financial officer of Toscana from July 31, 2015.
