By partnering with Meta under a power-purchase agreement (PPA), bp is addressing greenhouse gas emissions and promoting the development of renewable energy in the US. When finished, Arche will produce enough clean energy per year to power more than 20,000 US households.
Oil tanker company Frontline announced that the $4.2 billion merging agreement with Euronav NV (EUAV.BR) was cancelled, that merge would have created the world's largest publicly listed tanker company.
Eni, an energy business based in Italy, announced that it has founded a new firm specializing in environmentally friendly transportation. This firm would create biomethane, refine biomaterials, and provide mobility goods and services both domestically and overseas.
U.S. liquefied natural gas (LNG) developer NextDecade Corp (NEXT.O) declared it will increase the volume of LNG supplies in a sales and purchase agreement signed with China's ENN Natural Gas Co. Ltd. (600803.SS).
Moscow is prepared to restart gas shipments to Europe via the Yamal-Europe Pipeline, Russian Deputy Prime Minister Alexander Novak told state TASS news agency.
The Saudi Energy Ministry said on Twitter that Saudi Arabia and Japan have signed a memorandum of cooperation (MoC) in the areas of the circular carbon economy, carbon recycling, clean hydrogen, and fuel ammonia.
Vår Energi, publicly traded firm with Eni as a major shareholder, has declared a new gas discovery in the Barents Sea, Norway. The discovery has the potential to add to the future Barents Sea gas supply and is preliminary estimated to have 9–21 billion cubic meters of recoverable gas resources (57–132 million barrels of oil equivalent).
Given the market uncertainty, OPEC and its allies must continue to be proactive, according to the Saudi Arabian oil minister.
The Agua Marinha exploration block was won by PETRONAS Petróleo Brasil Ltda. (PPBL) and partners during the first round of Brazil's open acreage under production sharing regime auction, which was conducted in Rio de Janeiro.
The China Petroleum and Chemical Corporation ("Sinopec"), one of the top integrated energy and chemicals businesses in the world, the Saudi Arabian Oil Company ("Aramco"), and SABIC are investigating ways to work together on petrochemical and refining projects in China and Saudi Arabia.
