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The decline of Angola, from being Africa’s top crude producer five years ago to barely pumping more than war-torn Libya today, shows the heavy toll of a slump in oil-industry investment. The nation’s production has fallen by more than a third since 2015, when international oil companies started slashing investment …

Chevron Corp on Thursday said it had launched a $300 million fund focused on low-carbon technology, as traditional global oil and gas firms attempt to invest more in green energy and tackle climate change. Major energy firms have set targets to reduce greenhouse gas emissions or are exploring investments in …

Norway’s oil fund, the world’s largest sovereign wealth fund, bought shares in four Turkish energy companies with investments totaling around $140 million up to the end of 2020, according to official figures from Norway’s Norges Bank Investment Management. The giant fund made its biggest energy investment in Eregli Iron and …

Siemens Gamesa Renewable Energy has been awarded a firm order from the EDF Renewables/Enbridge/wpd consortium for the 448MW Courseulles-sur-Mer offshore wind power project. Located 10km off the Bessin coast, the project brings the total capacity awarded to Siemens Gamesa by the consortium in France to approximaely 1GW. Both the wind …

Iran’s non-oil foreign trade stood at 134 million tons worth $65.5 billion during the 11 months ending February 18. According to Ruhollah Latifi, the spokesman of the Islamic Republic of Iran Customs Administration, 103 million tons of commodities worth $31.2 billion were exported, while around 30.8 million tons of goods …

From trading houses in Geneva to Wall Street banks, much of the oil world agrees that global markets could use some more barrels. The big question is whether OPEC+ will provide enough of them. A crude glut that piled up during the pandemic is vanishing fast. Global inventories are plunging …

China recently unveiled the performance of its wind power industry in 2020, which attracted wide attention. The newly installed capacity of wind power increased by 71.67 million kilowatts last year, hitting a record high. The total generating capacity by wind turbines across the country grew around 15 percent to 466.5 …

Russia’s oil output has dipped below its OPEC+ target in February amid abnormally cold weather, meaning the country failed to take full advantage of a more generous quota. The nation pumped an average of 1.377 million tons a day of crude and condensate on average from Feb. 1 to 25, …

China’s oil stockpiles have risen to around 100 days worth of net imports, making it increasingly challenging to find extra storage tanks and facilities to hold supplies, two people with knowledge of supply levels said. The build-up follows a push by Beijing to buy up crude for its reserves last …

Chevron Corp. launched a new $300 million fund on Feb. 25 aimed to address challenges facing the oil and gas industry in the so-called energy transition through investments in low-carbon technologies. The U.S. oil major hopes to build on the success of its previous fund, Future Energy Fund, which has …