2 Min Read A sign is pictured outside the headquarters of Addax Petroleum in Geneva, Switzerland March 25, 2017. REUTERS/Denis Balibouse/File Photo
ABUJA (Reuters) - Nigeria’s president restored four oilfield licences to Addax, a company controlled by China’s Sinopec, his office said in a statement, overruling a previous revocation from the country’s petroleum regulator.
The restoration of the fields roughly three weeks after the Department of Petroleum Resources rescinded them was aimed to ensure “commitment to the rule of law, fairness and enabling a stable business climate for investment,” President Muhammadu Buhari’s office said in a statement.
Low-cost oil will be needed even as the world is in an energy transition, Sultan Ahmed Al Jaber, chief executive of Abu Dhabi National Oil Company (ADNOC) and minister of state for the United Arab Emirates, said on Tuesday at CERAWeek by IHS Markit.
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WASHINGTON (Reuters) - U.S. climate envoy John Kerry on Tuesday urged oil and gas companies to do more to diversify and adopt low-carbon technologies to tackle climate change.
FILE PHOTO: FILE PHOTO: John Kerry, U.S. President-elect Joe Biden s special presidential envoy for climate appointee, speaks as President-elect Biden announces his national security nominees and appointees at his transition headquarters in Wilmington, Delaware, U.S., November 24, 2020. REUTERS/Joshua Roberts/File Photo
Speaking alongside oil executives making the case for the continued production of oil and gas at the virtually-held CERAWeek conference, Kerry called for the United States to accelerate the development of hydrogen, carbon capture and other technologies that can reduce emissions.
U.S. climate envoy John Kerry on Tuesday urged oil and gas companies to do more to diversify and adopt low-carbon technologies to tackle climate change.
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HOUSTON (Reuters) - Occidental Petroleum Corp on Monday posted a larger-than-expected fourth-quarter loss despite higher oil and gas prices as an asset sale weighed on results.
FILE PHOTO: The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. REUTERS/Brendan McDermid
The U.S. producer has slashed jobs and output after the coronavirus pandemic hammered global energy demand, pressuring an energy company that had loaded up on debt in 2019 to acquire an oil rival. Its fourth-quarter loss widened to $731 million compared with a $269 million loss in the same quarter a year ago.