When Lord Browne ran BP (formerly British Petroleum) from 1995 to 2007, those initials also stood, aspirational, for “Beyond Petroleum”. The company made renewable energy investments that complemented its green and yellow flowery trademark. But Browne’s corporate investments in renewables were early. His successor Tony Hayward abandoned renewables and resumed …

China, the world’s leading energy and food importer, bought more crude oil, natural gas and soybeans in the first four months of 2020, customs data showed. The country imported some 170 million tons of crude oil in the period, up 1.7 percent year on year, while natural gas imports rose …

Iran’s Ambassador and Permanent Representative to the United Nations says the much-publicized Swiss trade channel (SHTA) will not suffice in meeting Iran’s needs at the time of sanctions. Addressing a webinar dubbed “US Sanctions During COVID-19 Pandemic, a Global Threat” on Saturday, Majid Takht-Ravanchi termed the US sanctions as the …

Iran and Nakhchivan studied avenues for boosting trade cooperation between the two sides via a virtual meeting on Sunday. During the meeting, the parties shared their views and voiced their suggestions for advancing cooperation. Iran’s Consul General in Nakhichevan Ahmad Hosseini expressed the hope that after examining the proposals, the …

Hamid Hosseini , the spokesman for the Iranian Oil Derivatives Exporters said that about 1500 megawatts of electrical energy and 30 million cubic meters of gas per day have been exported to Iraq. “In light of Iraq’s need for electricity in summer, America was forced to extend the waiver of …

U.S. President Donald Trump and Saudi Arabia’s King Salman spoke by phone on May 8 and “reaffirmed the strong United States-Saudi defense partnership,” the White House said, amid tensions over Saudi’s oil output. The conversation came a day after a variety of reports said the U.S. plans to withdraw two …

The second quarter of this year will see the largest volume of liquids production cuts, including shut-in production, in the history of the oil industry, the latest assessment on oil markets by London-based global information provider IHS Markit’s Crude Oil Market Service shows. IHS Markit now expects as much as …

Europe saw new wind-farm investments amounting to 19 billion euros confirmed in 2019, according to WindEurope’s annual Financing and Investment Trends (published on 7 April). Another 33 billion euros was invested in the refinancing of wind farms, the acquisition of wind-farm projects and other transactions. A total of 13 billion …

Oil demand could rebound enough to exceed supply by the end of this month, Goldman’s head of commodities Jeffrey Currie told Barron’s Market Brief, noting that this would be in no small part because of the production cuts implemented by all major producers. However, there are some 1.2 billion barrels …

State oil producer Saudi Aramco slashed its official selling prices for April crude sales to some of the lowest levels in decades, undercutting rivals. The uneasy truce that settled over oil markets this month as some of the world’s largest producers began cutting output belies the raging competition among exporters …