Oil Falls; Rising Covid-19 Cases May Weigh on Sentiment
Oil prices were lower in morning Asia trade amid concerns over rising coronavirus cases world-wide. Oil prices may be pressured for now.
U.S. Crude-Oil Stockpiles Likely to Rise in DOE Data, Analysts Say
U.S. crude-oil stockpiles are expected to increase by 600,000 barrels while gasoline stockpiles are expected to decrease by 1.6 million barrels in data due Wednesday from the Energy Department, according to a survey of analysts and traders.
'Massive' Forgery Helped Hide $3 Billion Hole in Energy Trader's Books
A distressed energy-trading company overstated its assets by more than $3 billion using "routine and pervasive" forgery, while its founder oversaw years of disastrous bets on oil derivatives, a report filed with a Singapore court said.
Green Energy Is Finally Going Mainstream
The question for investors now is not whether carbon-free power is here to stay but how to avoid getting burned.
Drax, Mitsubishi Launch Biomass Pilot Project in Yorkshire
Drax is partnering with Mitsubishi Heavy Industries to develop a bioenergy with carbon capture and storage pilot project at its incubation area in North Yorkshire.
Amazon to Launch $2 Billion Venture Capital Fund for Clean Energy
Amazon.com, criticized for its own environmental record, is launching a $2 billion internal venture-capital fund focused on technology investments to reduce the impact of climate change.
Templar Energy Gets $65 Million Stalking-Horse Bid From Tapstone
Shale driller Tapstone Energy, which recently completed a $450 million debt restructuring, is offering $65 million as the lead bidder to buy the assets of Templar Energy out of bankruptcy.
Petroleum Refiners Pose Hurdle to Oil's Recovery
The recovery has lifted shares of energy companies and relieved some of the stress on oil-dependent economies such as Russia and Saudi Arabia. It is also squeezing profits at refiners, crimping a key source of demand for crude and potentially preventing prices from marching much higher.
GIP, Brookfield Invest $10 Billion in Abu Dhabi Gas Infrastructure
The consortium will acquire a 49% stake in gas pipelines operated by the United Arab Emirates' national oil company, a deal that marries yield-hungry funds with a country battered by low oil prices and the coronavirus pandemic.
Chevron's Saudi-Kuwait Venture Plans Restart Exports in July
Chevron is set to resume oil exports in July from a long-dormant operation it shares with the governments of Saudi Arabia and Kuwait, oil officials said.
