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BP has agreed to sell its petrochemicals business to Ineos for $5 billion, the latest in a series of asset sales by the UK oil company as it tries to refocus on cleaner energy. Ineos will pay an initial deposit of $400 million, BP said in a statement Monday. The …

As more and more renewable energy comes on to the grid, networks are having to deal with more intermittent supplies from wind and solar power. Energy storage using batteries and other technologies are one answer, enabling surplus energy that is produced at times of low demand to be stored and …

The coronavirus pandemic is harming the oil market way more than the price dispute between OPEC and its allies OPEC+, RBN Energy chief executive Rusty Braziel told CNBC on Monday. RBN Energy is a Houston-based privately held energy commodities analytics company that plays a role between physical markets and financial …

Oil prices have collapsed by more than half this year, to $23 per barrel today for West Texas Intermediate crude. But now is not yet the time to buy oil—because the worst is yet to come. Gasoline demand is set to plunge 50%, while jet fuel consumption has all but …

Amid a thunderstorm of horrifically sad COVID-19 news, I wanted to focus on an energy story to lift your spirits. We all realize that energy markets are such an afterthought right now, but I wanted to give you something. Remember Red, hope is a good thing, maybe the best of …

A sharp drop in aviation and transport demand has sent prices down by a third since January.

Last week. Microsoft joined the likes of Amazon. Apple. Tesla and other tech giants in a pledge to dramatically reduce its carbon footprint in the coming years. In fact. the company aims to achieve carbon negative status by 2030. meaning that it will remove more CO2 from the atmosphere than …

The world we live in today is very different to 10 years ago. What change will the coming decade bring? I asked Wood Mackenzie`s analysts from across our business – energy transition. power and renewables. macro oils. petrochemicals. gas. upstream. corporate. economics. metals and mining – to imagine what 2030 could …

The leaders of France and Germany have had a lot to say lately about the importance of European Union efforts to fight climate change. But when it comes to their own countries action plans. it would seem they are approaching the matter with less urgency. Only 18 of the 28 …