Siemens Moves Part of Siemens Energy Holding to Pension Fund Siemens AG will transfer part of its stake in Siemens Energy AG to its pension fund, a move that will reduce the size of a looming writedown the German conglomerate will have to take on the holding following a sell-off of its shares. The shift…
NDDC Denies Awarding €56.2m Contract to Italian Firm The Niger Delta Development Commission, NDDC, has denied awarding a contract worth €56,250,000 to an Italian company, describing the reports of the contract as false. The Commission explained that the said contract did not exist in its records, neither was any of its officials aware of it….
Environmental Groups ask Norwegian Court to Halt Three Oil Developments Environmental groups said on Thursday they were demanding an immediate halt to the ongoing development of three Norwegian offshore oilfields, seeking a court injunction against the government Greenpeace and Nature and Youth said they had asked the Oslo District Court to put on hold Equinor’s…
Oil and Gas Firms making ‘Almost No Progress’ Towards Paris Goals Top oil and gas companies have made little progress in turning away from hydrocarbons and towards the goals of the 2015 Paris climate deal, multinational nonprofit platform CDP said on Thursday. Scientists say that by 2030 the world needs to cut greenhouse gas emissions…
Treat Crude Oil Spills as Disaster, YEAC Tells FG, Oil Operators The Youths and Environmental Advocacy Centre, YEAC-Nigeria, has urged the Federal government as well as multinational and indigenous oil companies in the country to treat crude oil spill incidents as disaster and an emergency that requires immediate response to contain and address. Executive Director…
Oil Prices Gain 2% on Big Decline in US Crude Storage Oil prices rose about 2% on Wednesday as the second straight weekly draw from U.S. crude stockpiles was bigger than expected, which offset worries that further interest rate hikes could slow economic growth and reduce global oil demand. Brent futures rose $1.47, or 2.0%,…
Jobs in US Energy Grew 3.8% in 2022, Led by Work in Clean Energy Jobs in the U.S. energy industry rose 3.8% last year, faster than overall employment growth and led by work in clean energy, the Department of Energy said on Wednesday. The U.S. Energy and Employment Report showed jobs in clean energy, a…
U.S. Slams Sanctions on Wagner-Linked Gold Miners The United States has imposed sanctions on four companies linked to the Russian private mercenary group Wagner and its leader, Yevgeny Prigozhin, that it said are active in illicit gold mining and trade.The companies are tied to illicit gold dealings that fund the Wagner group to sustain and…
LNG Exports Have Sent U.S. Natural Gas Demand Surging This Decade Rising exports of LNG from the U.S. Gulf Coast drove a 43% surge in U.S. natural gas demand in the decade to 2022, the U.S. Energy Information Administration (EIA) said on Tuesday. Demand for natural gas in America – including for domestic consumption and…
Uzbekistan’s Commercial Ties with Russia Draw EU Sanctions The latest set of European Union sanctions aimed at exerting pressure on Russia includes two companies based in Uzbekistan among the list of entities seen lending support to the ongoing invasion of Ukraine. Their inclusion among the 87 companies added on June 23 to an ever-growing list…