The leading representative body for the UK offshore oil and gas industry has today paid tribute to former Energy Minister Paul Wheelhouse and urged all parties to support the sector and its world class supply chain in order to realize homegrown greener energy.
The Dutch government has granted a consortium that includes oil majors Royal Dutch Shell and ExxonMobil around 2 billion euros ($2.4 billion) in subsidies for what is set to become one of the largest carbon capture and storage (CCS) projects in the world, the Port of Rotterdam said on Sunday.
Norwegian oil firm Equinor has, with its partners, decided to develop the Askeladd Vest field, located in the southern Barents Sea, off Norway. The investment is close to NOK 3.2 billion (~$385 million).
China Petroleum & Chemical Corp swung to a first-quarter profit from a loss a year earlier, with net income reaching 18.54 billion yuan ($2.86 billion), amid a recovery in global oil prices and robust demand for refined oil products.