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Oil Prices Hit 2-Year High | OilPrice com

Oil prices hit their highest level in more than two years as OPEC+ agreed to maintain its production cut plans while demand projections continue to improve. -    The average retail price for gasoline in the U.S. jumped above $3 per gallon last week, the highest price since 2014. -    Memorial Day travel is expected to be 50% higher than the same weekend in 2020. -    California saw the highest prices at over $4 per gallon, while Texas saw the lowest at $2.72.   Market Movers Pembina Pipeline (TSE: PPL) will acquire Inter Pipeline (TSE: IPL) in an $8.3 billion all-stock deal, creating one of the largest pipeline companies in Canada. 

BP re-enters US market buying up string of solar farms for £155m

BP puts $220M toward U S solar projects

© Getty Oil major BP is investing $220 million in U.S. solar projects as it seeks to expand its renewables portfolio, the company announced on Tuesday.  The projects it purchased will be spread across 12 states, with much of it going to power Texas and the Midwest.  It will amount to 9 gigawatts worth of energy enough to power about 1.7 million homes, BP said.  ADVERTISEMENT A company spokesperson told The Hill via text message that these are new projects that have not yet been built. It’s buying them from company 7X Energy.  The company has previously announced that it hopes to increase its generating capacity from renewables to 20 gigawatts by 2025 and 50 gigawatts by 2030. 

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