(Oil Price) – The Trump Administration is pushing the World Bank to boost funding for oil and gas in what would be a U-turn in the lender’s policy not to finance new fossil fuel projects. Back in 2017, the World Bank Group said it would no longer finance upstream oil and gas after 2019. But the group noted that “In exceptional circumstances, consideration
(World Oil) – Tracerco has introduced its proprietary chemical tracer technology into a U.S.-based carbon capture and storage (CCS) project for the first time, marking a milestone for monitoring CO₂ containment in large-scale sequestration. With decades of experience applying tracer technology in enhanced oil recovery (EOR), the company has adapted its tools for CCS, enabling operators to track plume migration,
(Oil Price) – U.S. Commonwealth Fusion Systems (CFS), which is developing fusion energy, has signed a more than $1-billion power purchase agreement with Italy’s energy major Eni as the two companies continue to partner to bring fusion power to commercial use. Nuclear fusion has long been considered the answer to zero-emission by-product-free energy generation. However, no one has cracked the nuclear fusion code
(BOE Report) – CALGARY – Parkland Corp. and Sunoco LP say they have cleared a key U.S. antitrust hurdle in a US$9.1-billion deal that would see the U.S. fuel distribution giant buy the Calgary-based refiner and retailer. The two companies say the waiting period has expired under the Hart-Scott-Rodino Act, satisfying one regulatory approval that’s needed for the deal to
(World Oil) – ExxonMobil has reached a final investment decision (FID) on the Hammerhead development offshore Guyana, following government approvals. The $6.8 billion project, the seventh on the prolific Stabroek block, is expected to begin production in 2029. Hammerhead will deploy a new FPSO capable of producing 150,000 bopd, adding to Guyana’s rapid offshore buildout and bringing total installed capacity
(Investing) – HOUSTON -Oil prices edged lower on Monday as worries of an oversupply outweighed geopolitical tensions in Russia and the Middle East. Brent crude oil futures dipped 24 cents, or 0.4%, to $66.44 a barrel by 11.01 a.m. ET (15.01 GMT). Brent has traded between $65.50 and $69 a barrel since early August. U.S. West Texas Intermediate crude contract for
