OSLO (Reuters) – Norway’s $1 trillion wealth fund is excluding some of the world’s biggest commodities firms from its portfolio for their use and production of coal, including Glencore (GLEN.L) and Anglo American (AAL.L). FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, September 30,
Saudi Aramco reported a 25% fall in net income for the first quarter on Tuesday, as the state-owned oil giant battles with a dramatic slide in crude prices and cratering global demand. In a release published Tuesday, the company said net income slid to 62.5 billion riyals ($16.6 billion) in the first three months of the
Voluntary production cuts by OPEC members show that oil producing countries are doing what they can to stabilize the market during the ongoing coronavirus outbreak, one strategist told CNBC this week. Saudi Arabia on Monday said it will reduce output by an additional 1 million barrels per day from June 1, in a bid to support oil
An aerial view shows a cruise ship (L) and tanker vessel anchored near the ports of Long Beach and Los Angeles amid the coronavirus pandemic on April 28, 2020 off the coast of Long Beach, California. Mario Tama | Getty Images Oil prices fell in early Asian trading on Wednesday after industry data showed a
ezypix | iStock | Getty Images Equinor and SSE have unveiled plans to build a multi-million pound operations and maintenance base for a project that is being described as “the world’s largest offshore wind farm.” The site for the base is located at the Port of Tyne, in the northeast England. It will serve the
Situated in the wilds of the northeast Atlantic between Iceland and Scotland, the Faroe Islands are peaceful, remote and beautiful. The archipelago is also the site of a trial that, using tidal “kite” technology, could radically alter its energy mix and, in the long run, make it greener. At the beginning of April, Swedish firm
A customer wearing a protective mask uses a plastic shopping bag to hold a fuel nozzle while refueling a vehicle at an Exxon Mobil Corp. gas station in Arlington, Virginia. Andrew Harrer | Bloomberg | Getty Images Gasoline demand is improving and is now about 30% below normal across the U.S., but as expected, it
An aerial view of oil tankers anchored near the ports of Long Beach and Los Angeles amid the coronavirus pandemic on April 28, 2020 off the coast of Long Beach, California. Mario Tama | Getty Images Oil prices crept up on Thursday, supported by a surprise decline of U.S. crude inventories, but gains were capped
South Belridge Oil Field is the fourth-largest oil field in California and one of the most productive in the U.S. David McNew | Getty Images The International Energy Agency (IEA) said on Thursday that market forces had “demonstrated their power” on the supply side of the oil market in recent weeks, but concerns remain over
Image Source | DigitalVision | Getty Images The U.S. “clean energy” sector was hit by 447,208 new unemployment filings last month, according to new analysis of Department of Labor data. Published on Wednesday, the analysis — released by Environmental Entrepreneurs, the American Council on Renewable Energy, E4TheFuture, and BW Research Partnership — paints a stark
Germany’s RWE said Thursday it had got off to a “good start” in 2020 despite the coronavirus pandemic. Adjusted earnings before interest, taxes, depreciation and amortization came in at 1.3 billion euros ($1.41 billion) in the first quarter, a 19% increase from the same period last year, with the firm also confirming its earnings forecast