'Improved procedures'Alistair Duncan, head of the Crown Office's health and safety investigation unit, said: "The lack of sufficiently robust procedures could have had a significant environmental impact, had these issues not been addressed. … [Read more...] about BP fined £7,000 over crude oil spill off Shetland
Demand for crude oil
The results are in line with analysts’ expectations but stand in contrast to the losses reported by its rival energy giants, which are reeling from a drop in oil demand since the start of the novel coronavirus pandemic. … [Read more...] about Saudi Aramco profits dive 73% as coronavirus batters oil demand
Some investors could be starting to heed that advice. Last week, riskier bond funds suffered their first outflow in 19 weeks, ending the longest streak of inflows since 2013, according to Bank of America. Equity funds recorded their first outflow in four weeks. … [Read more...] about Does BP’s conversion signal the end of Big Oil?
New Delhi: India was second biggest growth driver of primary energy consumption in the world, behind China, in 2019 even though it witnessed fall in demand in oil and coal, according to BP Statistical Review released on Wednesday. Global primary energy consumption growth slowed to 1.3 per cent last year, less than half the rate of growth in 2018 (2.8 per cent), BP said. The increase in energy consumption was driven by renewables and natural gas, which together contributed three quarters of the expansion. All fuels grew at a slower rate than their 10-year averages, apart from nuclear. "By country, China was by far the biggest driver of energy, accounting for more than three quarters of net global growth. India and Indonesia were the next largest contributors to growth, while the US and Germany posted the largest declines," it said. But the growth in 2019 was slower than 2018. World primary energy consumption rose to 583.90 Exajoules (EJ). India's consumption rose 2.3 per cent to 34.06 … [Read more...] about India 2nd biggest driver of global energy consumption in 2019: BP Statistical Review
Since withdrawing the U.S. from the 2015 Iran nuclear deal two years ago, Trump has steadily ratcheted up pressure on Iran by imposing penalties on countries importing Iranian oil, declaring its Revolutionary Guard a “foreign terrorist organization” and killing a top commander of the paramilitary organization this year in a missile strike in Iraq. … [Read more...] about Iran indifferent to Trump envoy’s quitting amid embargo push