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TotalEnergies SE has consummated the divestment of its refueling networks in Belgium, Germany, Luxembourg and the Netherlands to Alimentation Couche-Tard Inc. for EUR 3.4 billion ($3.73 billion). “TotalEnergies will continue to supply fuel to the service stations in these four countries for at least five years, notably from its refineries …

Back in February 2020, British oil and gas multinational BP Inc. announced an ambitious goal to become net-zero by 2050 through, among other things, aggressively cutting oil and gas production and also undertaking one of the industry’s most expansive renewable electricity build-outs. In April of the same year, deep in …

A consortium of Brazilian, British, French and Chinese energy firms will test new technology aimed at capturing CO2 in an undersea oilfield off Brazil in an effort to reduce emissions, TotalEnergies said Monday. The pilot unit will separate oil from CO2-rich natural gas at the bottom of the ocean and …

Norway’s national oil company Equinor has announced that it has sold its shares in two Azerbaijani oil fields and the Baku Tbilisi Ceyhan oil pipeline to Azerbaijan’s state oil company SOCAR and will exit from Azerbaijan after 30 years in the country. “Equinor is in the process of reshaping its …

The shipping industry is one of the focal points of the energy transition, given the amount of hydrocarbon fuels it uses. Increasingly stringent rules about emissions from that industry have been one tool for pushing it into a transition direction. Another should have been the regular process of scrapping old …

The Dutch government has decided to temporarily extract minimal amounts of natural gas from two sites at the Groningen gas field that was closed last year, as a deep freeze is moving into northwest Europe, boosting demand for space heating and electricity. The Groningen gas fields would be turned off …

Given that Libya still has 48 billion barrels of proved crude oil reserves – the largest in Africa – recent comments from National Oil Corporation (NOC) chairman Farhat Bengdara that it is on track to rise oil production from the circa-1.2 million bpd seen in recent months to 2 million …

Oil prices rose slightly on Tuesday after sliding in the previous session, as markets weighed Middle East tensions against demand worries and rising OPEC supply. Brent crude futures rose 18 cents, or 0.2%, to $76.30 a barrel at 0445 GMT, while U.S. West Texas Intermediate crude futures inched up 0.1%, …

Fuel demand in India reached the highest level in seven months in December 2023, topping 20 million tons in total, oil ministry data cited by Reuters shows. On a monthly basis, demand was up by 6.2%, while on an annual basis, the increase stood at 2.6%. Among fuels, all but …

Oil prices plunged by nearly 4% early on Monday after Saudi Arabia signaled potentially weaker demand ahead by cutting the price of its oil across the board. As of 9:22 a.m. ET on Monday, the U.S. benchmark, WTI Crude, was down by 3.75% to $70.83. The international benchmark, Brent Crude, …