Only seven out of 59 companies studied — Royal Dutch Shell Plc, Repsol SA, Total SE, Eni SpA, Glencore Plc, Anglo American Plc and Equinor ASA — have set emissions reduction targets in line with pledges made in the Paris Agreement, according to a report by the Transition Pathway Initiative. SourceContinue Reading

The regulator said the 9.5 billion-euro ($11 billion) pipeline will impede competition and “violates the interests of consumers.” SourceContinue Reading

Trump told his negotiators to stop discussions with Democratic leaders just hours after Federal Reserve Chair Jerome Powell stepped up his call for more spending to avoid damaging the economic recovery. SourceContinue Reading

Caterpillar Inc. has signed an agreement to acquire the Oil and Gas Division of the Weir Group PLC, a Scotland-based global engineering business. Headquartered near Fort Worth, Texas, Weir Oil and Gas produces a full line of pumps, flow iron, consumable parts, wellhead and pressure control products. SourceContinue Reading

NOV recently delivered the world’s longest and heaviest coiled tubing work string, which comprised 7.57 miles of continuously milled carbon steel tubing. SourceContinue Reading

The world’s largest owner of deep-water oil rigs recently engineered a bond swap to trim some of its $9 billion debt load and ease the crunch caused by slumping energy prices. But other creditors say the transaction amounts to a default because it pledges assets that Transocean already promised to them. SourceContinue Reading

Boris Johnson’s plan to quadruple the size of the UK offshore wind industry will require $58 billion of investment and careful management of what’s a tricky building process in some of the world’s roughest waters. SourceContinue Reading

Crude started the week by getting swept up in a broader market relief rally, and was aided by a strike in Norway that has shut fields and is curbing flows. SourceContinue Reading

The deal marks the end of the road for one of the oldest independent oil explorers. After years laboring under a mountain of debt Premier has bowed to pressure from creditors, with CEO Tony Durrant abandoning his plan to acquire some of BP’s North Sea assets and agreeing to step down. SourceContinue Reading

“Proceeds will be used to fund our world class investment opportunity in Guyana,” CEO John Hess said. “This sale is aligned with our strategy to preserve cash and preserve the long term value of our assets in the current low oil price environment.” SourceContinue Reading