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Technology

Big Tech Helps Big Oil Pump More, Belying Climate Pledges

(Bloomberg) — It’s been a blockbuster summer for Big Oil. Exxon Mobil Corp. and Chevron Corp. posted record profits thanks to surging energy prices. The new US climate bill includes concessions to oil and gas companies. There are other, quieter beneficiaries: Microsoft Corp., Amazon.com Inc. and the other cloud-services companies that are increasingly responsible for the computing horsepower […]

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Science

Putin’s oil empire handed lifeline as Saudi Arabia ties deal huge blow to EU sanctions

Ever since Russia launched its brutal invasion on February 24, the West has been scrambling to damage its economy to deal a blow to its war efforts. The EU in has handed Moscow billions due to its reliance on Russian oil, but has pledged to phase out imports of the fossil fuel. Back in June, the bloc included in its sixth […]

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World

Oil price slump: Reports from US and China lead to fears of economic slowdown

International oil benchmark Brent crude dropped down to $92.78 (£76.99) a barrel while US marker West Texas Intermediate slipped to $86.82 (£72.04). West Texas Intermediate (WTI) in fact hit its lowest level since early February — before Russia invaded Ukraine. Later in the day WTI settled at $89.41 (£74.20), down 2.9 percent and Brent settled […]

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UK

Norway’s Climate Choice: Old Oil, Gas Fields Switch to Green Power or Close Early

Norway will have to phase out some of its old oil and gas fields prematurely to achieve its 2030 climate goals, unless it can use carbon-free power on more offshore platforms to cut their emissions, the country’s Climate Minister Espen Barth Eide said. Norway, western Europe’s largest petroleum producer, aims to reduce its emissions of […]

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Canada

Oil spill off San Juan Island ‘pretty well impossible to clean up,’ expert says | CBC News

Crews are assessing the waters off San Juan Island in the Salish Sea near Vancouver Island after a fishing boat sank and leaked fuel on Saturday. The Aleutian Isle had nearly 9,840 litres of oil and diesel on board when it went down off the west coast of San Juan Island in Washington state.  Gerald Graham, […]

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US

Saudi fund invested $500 million in Russian oil as Ukraine invasion began | CNN Business

Saudi Arabia’s Kingdom Holding, the investment firm controlled by billionaire Prince Alwaleed Bin Talal, quietly invested more than $500 million in three major Russian energy companies between February and March, regulatory filings showed. By investing in Gazprom (GZPFY), Rosneft and Lukoil, Kingdom was likely seeking undervalued assets, but its move came as many Western nations […]

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Science

Putin’s plot to choke energy supplies foiled as China announces HUGE discovery of oil

Sinopec, the world’s largest refiner by volume, has uncovered bumper stocks of natural gas and crude oil at the Shunbei oil and gas field in the Xinjiang Uygur autonomous region. The state-owned energy company, also known as China Petrochemical Corp, found what they said is one of the world’s deepest onshore commercial oil and gas […]

Categories
World

Oil firm reaps benefits of war and soaring demand with record-breaking $48billion profit

Saudi Aramco, formerly known as The Saudi Arabian Oil Company, suffered a knock-on Friday after Apple took over as the world’s biggest company. However, the company bounced back when on Sunday it announced the biggest-ever quarterly profit by any company. The success during the last quarter is largely due to soaring oil prices which are […]

Categories
Canada

Coast guard monitoring oil spill off southern Vancouver Island | CBC News

U.S. and Canadian authorities say they’re working together to manage an oil spill near San Juan Island, Wash. — just off the southern tip of Vancouver Island. The spill started Saturday after the fishing boat Aleutian Isle started sinking near Sunset Point, which is on the west side of San Juan Island. The U.S. Coast […]

Categories
Life Style

Natural oil could ‘prevent hair loss and thinning’ – experts share why and when to use it

Native to the Mediterranean region, rosemary is a versatile and popular herb used in foods and aromatherapy, as well as medicines. It might not have been the first oil to come to mind when choosing a good treatment for hair, but studies are increasingly uncovering the long list of benefits it can have on your […]