Royal Dutch Shell and renewables firm Eneco, owned by Japan’s Mitsubishi Corp, will provide Amazon.com Inc’s European facilities with electricity from an offshore wind farm, the companies said in a joint said on Monday.
US President Joe Biden slammed the long disputed Keystone XL oil pipeline in his first day in office. The project was intended to link US and Canada. With one of his first orders Biden revoked the pipeline’s permit, Reuters reported.
US president-elect Joe Biden vowed to revoke the permit for Keystone XL pipeline multi-billion project, AP reported. The project was one of the pearls in the crown of the outgoing president Donald Trump.
Saudi Arabia has officially declared plans to reduce pumping of crude oil by some one million barrels per day to support the level of international prices, AP reported. Thus Saudi companies will take extra burden amid on-going plans to boost OPEC output by 500,000.
Italy’s Eni has said would acquire a 20% stake in the project known as Dogger Bank Wind Farm development. The seller will be Norway’s Equinor and Britain’s SSE and the value of the transaction is estimated at a combined 545 million dollars, the companies said, quoted by Reuters.
The OPEC organization plus allied countries including Russia have agreed to raise oil production by 500,000 barrels per day effective from from January and further noted they would hold monthly meetings to clarify further raise of output levels, gently adding more crude to a global economy still suffering from the Covid-19 pandemic.
OPEC+ members will consider whether to extend existing oil cuts for three to four months or to gradually increase output from January during their two days of talks that start on Monday, OPEC+ sources told Reuters.