Oil

    • BP exits Alaska in $5.6bn deal

      BP exits Alaska in $5.6bn deal

      British oil giant BP announced Tuesday it will sell all of its Alaska operations for $5.6bn, exiting the state after 60 years to help meet divestment goals. The local firm Hilcorp Alaska will acquire the BP assets, including operations in the mammoth Prudhoe Bay oilfield, BP said in a statement.

      39
    • US will sanction all countries importing Iranian oil

      US will sanction all countries importing Iranian oil

      In a move intended to further ramp up pressure on Iran by strangling the revenue it gets from oil exports, The US State Department is poised to tell five nations, including allies Japan, South Korea and Turkey, that they will no longer be exempt from US sanctions if they continue to import oil from the Islamic country. The plans to not renew sanctions waivers for the five countries when they expire on 2 May are expected to be announced today by Secretary of State Mike Pompeo. The other countries no longer exempt would be China and India.

      303
    • ExxonMobil faces EU parliament ban

      ExxonMobil faces EU parliament ban

      ExxonMobil could become the second company after Monsanto to lose lobbying access to members of European Parliament after it failed to turn up to a hearing Thursday into whether or not the oil giant knowingly spread false information about climate change.

      246