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Equinor and its Fram partners will invest more than $2 billion (NOK 21 billion) in a new subsea development. The plan for development and operation was today submitted to the Minister of Energy, Terje Aasland. The Troll C platform, North Sea. Image provided by Equinor “Fram Sør will contribute to security of energy supply from the Norwegian continental shelf (NCS) to Europe,” said Geir Tungesvik, Equinor’s executive vice president, Projects, Drilling & Procurement. “The development will put new oil and gas resources on stream by connecting new infrastructure to existing facilities that provide good and robust profitability. With…
(Bloomberg) — U.S. shale oil producers are unlikely to heed President Donald Trump’s latest call to “Drill, Baby, Drill” as they prioritize hedging over ramping up production in response to U.S. military strikes on Iran. Wary of being caught by yet another false start in global crude markets, U.S. oil companies are likely to use hedging contracts to lock in revenue for future output rather than spend heavily on new drilling, analysts said. Trump called to increase in U.S. drilling in a social media post Monday in order to prevent oil prices from rising. West Texas Intermediate declined…
Russia has seized a village near Shevchenkove in eastern Ukraine, just kilometers from a major untapped lithium deposit, according to a pro-Russian local official cited by Reuters on Wednesday. The area lies close to the Kruta Balka site, one of Ukraine’s most valuable hard-rock lithium prospects, raising fresh alarm over Europe’s long-term access to critical energy transition materials.The Kruta Balka deposit is part of a cluster of lithium-rich zones in eastern and central Ukraine, previously estimated to contain over 500,000 metric tons of lithium oxide, according to Radio Free Europe/Radio Liberty. This resource was slated to become a cornerstone of…
WHEELING, W.Va. (AP) — A northern West Virginia region still cleaning up from flash flooding less than two weeks ago was hit with torrential rains that sent creeks over their banks again Thursday night.A flash flood warning was issued for the Wheeling area, about an hour’s drive southwest of Pittsburgh. The National Weather Service said up to 2 inches (5 centimeters) of rain fell, and more was possible later. Residents posted video on social media showing streets turned into rivers. Some said the storms formed quickly and that homes that were hit from the last round of flooding were taking…
2025-06-26T15:46:00Z Share Facebook Email X LinkedIn Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. The Trump-branded smartphone might not be “Made in the USA” after all. Since its announcement, Trump Mobile has changed the wording of its gold-colored T1 smartphone listing. Now it says the $499 phone will be “brought to life right here in the USA” and ” The listing for the Trump-branded smartphone still…
Sudan and South Sudan have not reached an agreement during discussions on revised oil export fees which South Sudan pays to Sudan to export oil from its ports, local outlet Radio Tamazuj reported on Thursday, quoting technical sources and officials. South Sudan, a landlocked country in East Africa, broke from Sudan in 2011 and took with it around 350,000 barrels of day (bpd) in oil production at the time. However, the only export oil pipeline out of South Sudan passes through its neighbor to the north, Sudan. To access Port Sudan on the Red Sea, South Sudan is paying transit fees to Sudan…
The Republic of Slovenia announced its inaugural sustainability-linked bond (SLB) offering, raising €1 billion from the issuance of a new 10-year benchmark issuance, with interest tied to the country’s performance towards its 2030 greenhouse gas emissions targets. The offering is the first-ever sustainability-linked bond from a European Sovereign, marking a significant milestone for SLBs. After significant early growth, the volume of sustainability-linked bond offerings have declined significantly over the past several quarters on investor concerns over the credibility and robustness of the bonds’ linked sustainability targets. Despite the recent softness in the SLB market, demand for the bond was strong, with the…
Diversified Energy Co. PLC and Carlyle have formed a partnership to invest up to $2 billion in proven developed producing (PDP) natural gas and oil assets across the United States. “This exclusive partnership will combine Carlyle’s deep credit and structuring expertise, led by Carlyle’s asset-backed finance (ABF) team, with Diversified’s market-leading operating capabilities and differentiated business model of acquiring and optimizing portfolios of existing long-life oil and gas assets to generate reliable production and consistent cash flow”, a joint statement said. “Under the terms of the agreement, Diversified will serve as the operator and servicer of the newly acquired assets”,…
The world is facing a looming crisis of inequality that could see the first trillionaires emerge while nearly half of humanity still languishes in poverty, a group of 40 former presidents and prime ministers warns.In a letter seen by the Guardian, the group – which includes the ex-British prime minister Gordon Brown – issues a joint appeal to current world leaders for a “new economic coalition of the willing” to address the escalating threats of inequality, poverty and environmental breakdown.The former leaders also condemn “narrow unilateralism” and the “outdated” 1944 economic model while urging comprehensive debt relief, international tax cooperation,…
U.S. President Donald Trump walks as workers react at U.S. Steel Corporation–Irvin Works in West Mifflin, Pennsylvania, U.S., May 30, 2025. Leah Millis | ReutersPresident Donald Trump now personally holds sweeping veto power over U.S. Steel’s decisions in key areas, according to an amended corporate charter filed with the Securities and Exchange Commission.U.S. Steel says Trump holds what the White House calls a “golden share” in the Pittsburgh-based company. The amended charter, however, does not reference future presidents. Instead, it says the veto power passes to the Treasury and Commerce Departments as representatives of the U.S. government after Trump leaves…