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The European Parliament formally approved the European Union’s multi-billion euro fund on Tuesday (18 May) to support countries as they wind down fossil fuel industries as part of Europe’s push towards fighting climate change. The €17.5 billion Just Transition Fund (JTF) combines cash from the EU’s budget and its COVID-19 …

BP Plc has started a recruitment campaign for the people who will drive its expanding clean energy ambitions. The London-based oil and gas company is looking to fill 100 offshore-wind jobs in the U.K. and the U.S., a figure which could double by the end of the year. The recruitment …

Brent crude briefly hit $70 per barrel and West Texas Intermediate rose above $66 this week as improving economic outlooks for some of the world’s biggest economies boosted optimism. Although a round of profit-taking by hedge funds limited the upward potential of the benchmarks, it was a temporary occurrence, and …

Of all the objectives in the European Green Deal, presented in December 2019, the “Zero Pollution Action Plan” immediately jumped out as the one policymakers were likely to struggle with the most. “Creating a toxic-free environment” with zero air, water and soil pollution is something hardly anyone can disagree with. …

Oil giants Eni and BP have entered into a non-binding memorandum of understanding (MoU) to progress detailed discussions on combining their upstream portfolios in Angola, including all their oil, gas, and LNG interests in the country. The companies believe that combining their efforts in a new joint venture company would …

Managing director of the National Iranian Oil Company (NIOC) has announced the beginning of oil transfer operation through Goreh-Jask pipeline which is laid from Goreh oil terminal in the southwestern Bushehr Province to Jask oil terminal along the Gulf of Oman. Masoud Karbasian made the announcement on the sidelines of …

Chinese President Xi Jinping and Russian President Vladimir Putin will take part in a video conference on Wednesday to launch the construction of new Russian-designed reactors at the Tianwan Nuclear Power Plant (NPP) and the Xudapu NPP in China. The two leaders are expected to formally launch first concreting of …

US oil looks neutral in a range of $63.88-$65.45 per barrel. The bias seems to be towards the downside. The contract failed again to break a resistance at $66.52. The failure suggests the formation of a triple-top around this level. The pattern will be confirmed when oil breaks $63.88. It …

The Biden administration plans to waive sanctions against an ally of Russian President Vladimir Putin who heads the company that is building the Nord Stream 2 gas pipeline from Russia to Germany, two people with knowledge of the move said Tuesday. The move to invoke a national security waiver for …

Moscow calls on Washington and Tehran to synchronize their steps to return to the Joint Comprehensive Plan of Action (JCPOA) on Iran’s nuclear program, Russian Deputy Foreign Minister Sergei Ryabkov told reporters on Wednesday. “From our standpoint, the United States’ return to the JCPOA is the key issue that needs …