Vestas has become the first renewable energy manufacturer to have its targets validated by the Science Based Targets Initiative (SBTi) as consistent with a 1.5 deg C scenario. The target validation follows Vestas’ announcement in January 2020 to become carbon neutral, without the use of offsets, by 2030.

The SBTi has validated the company’s greenhouse gas"...

ERBIL (Kurdistan 24) – The US Treasury Department has extended a waiver allowing a little-known American company, Delta Crescent Energy, to develop oil fields in northeastern Syria.

Sen. Lindsey Graham (R, South Carolina) first revealed on July 30 that the Kurdish-led Syrian Democratic Forces (SDF), the partner of the anti-ISIS Coalition in northeast Syria, had signed a deal with a US company to modernize oilfields there.

Graham’s"...

Adnoc Logistics and Services (Adnoc L&S), the shipping and maritime logistics subsidiary of the Abu Dhabi National Oil Company (Adnoc) announced on Tuesday the formation of a new strategic joint venture (JV) with Wanhua Chemical Group.

The new company named AW Shipping Limited is incorporated in Abu Dhabi Global Market.

This strategic agreement further strengthens the collaboration between Adnoc and Chinese companies and builds on the deep-rooted bilateral relations between China and the UAE."...

Oil prices rose on Wednesday after inventory data showed a big drop in U.S. crude stocks although gains were capped by concerns over fuel demand with mounting global COVID-19 cases.

Brent crude was up by 31 cents, or 0.7%, at $44.74 a barrel by 0713 GMT. The contract rose 0.6% on Wednesday to its highest close since March 6.
West Texas Intermediate oil was up by 26 cents, or 0.6%, at $41.96 a barrel. The contract ended Tuesday trading 1.7%"...

Syria has condemned in the strongest terms the agreement signed between Qasad militia “SDF” and a U.S. oil company to steal the Syrian oil, affirming that it considers it null and void and has no legal effect.

In a statement to Local reoorter on Sunday, a Foreign and Expatriates Ministry official source said that the Syrian Arab Republic condemns in the strongest terms the agreement signed between Qasad “SDF” militia and"...

Probably not since the Second World War have the big oil companies released earnings under such turbulent and unpromising circumstances. Their big losses and write-downs are shocking but unsurprising. Are they just the reflection of bad times, or indicative of flawed strategic choices, or do they point to a grim long-term future for the oil super-majors?

In the second quarter, lockdowns under the pandemic drove world oil demand to fall 16.4 million"...

RIO DE JANEIRO (Reuters) - Brazilian state-run oil firm Petroleo Brasileiro SA expects to conclude negotiations on the sale of its RLAM refinery in northeastern Brazil in the near future and is pushing ahead with the IPO of a gas pipeline unit, executives said on Friday.

Speaking to analysts following the release of the company’s second-quarter results, Chief Executive Roberto Castello Branco said the firm expects to seal a sale agreement"...

The Ministry of Electricity said that that the limited availability of resources needed to operate generators and the sharp rise in temperatures to over 44 degrees adversely affected the performance of those generators and led to a decrease in their performance by around 50%, especially during daytime between 11 am and 6 pm.

The Ministry confirmed in a statement that the demand for electricity due to the high temperatures, which reached 48 degrees"...

MELBOURNE (Reuters) - Oil prices rose for a third straight day on Tuesday, buoyed by support for demand coming from efforts to stimulate the U.S. economy’s recovery from the coronavirus crisis and a weakening of the dollar that makes crude cheaper for global buyers

Brent crude futures climbed 35 cents, or 0.8%, to $43.76 a barrel at 0118 GMT, adding to a 0.2% gain on Monday.

U.S."...