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Norway on Tuesday offered 57 new production licenses to 19 companies in the annual licensing round for acreage in the best-explored areas on the Norwegian continental shelf, as Western Europe’s biggest oil and gas producer looks to maintain the current high level of output for years to come.Norway holds an annual license round for exploration acreage in the best-known and mature areas on the Norwegian Continental Shelf—the so-called awards in predefined areas (APA) round. After more than 50 years of exploration activity, the APA rounds currently cover most of the area that has been open to drilling on the shelf.Of…
The Cybertruck is running out of road.Tesla sold 20,237 Cybertrucks in the US last year, according to data from Cox Automotive released on Tuesday, as demand for Elon Musk’s “apocalypse-proof” pickup fizzled.That’s nearly half the number Tesla sold in 2024, and sales dropped 68% year-on-year in the final quarter of 2025.The figures are a far cry from the target of 250,000 sales a year Musk set before the Cybertruck rolled off the production line in 2023.The divisive electric truck amassed over 1 million reservations, but early models launched with a price tag of over $79,000, significantly higher than the nearly…
Iranians gather while blocking a street during a protest in Tehran, Iran on January 9, 2026. Mahsa | Afp | Getty ImagesCrude oil prices rose about 3% on Tuesday, after U.S. President Donald Trump cancelled all meetings with Iranian officials and promised protesters that help is on the way. U.S. crude oil rose $1.96, or 3.29%, to $61.46 per barrel by 11:42 a.m. ET. Global benchmark Brent was up $1.99, or 3.12%, to $65.86 per barrel. The Islamic Republic’s security forces have cracked down on large-scale demonstrations with hundreds of people reportedly dead. The government has cut off Internet access…
EnerMech has been awarded a subsea pre-commissioning services contract by Saipem for the Whiptail development offshore Guyana, expanding its footprint in one of the world’s most active deepwater provinces. Image: ExxonMobil Guyana The Whiptail project is located about 200 miles offshore Guyana in the Stabroek Block, which is operated by ExxonMobil Guyana. The contract marks EnerMech’s first involvement on the Whiptail field and its fifth subsea pre-commissioning scope offshore Guyana. Under the agreement, EnerMech will deliver a range of subsea pre-commissioning activities, including flooding, cleaning and hydrotesting of subsea risers and flowlines. The scope also includes umbilical post-load-out,…
EnerMech has been awarded a subsea pre-commissioning services contract by Saipem for the Whiptail development offshore Guyana, expanding its footprint in one of the world’s most active deepwater provinces. Image: ExxonMobil Guyana The Whiptail project is located about 200 miles offshore Guyana in the Stabroek Block, which is operated by ExxonMobil Guyana. The contract marks EnerMech’s first involvement on the Whiptail field and its fifth subsea pre-commissioning scope offshore Guyana. Under the agreement, EnerMech will deliver a range of subsea pre-commissioning activities, including flooding, cleaning and hydrotesting of subsea risers and flowlines. The scope also includes umbilical post-load-out,…
Iran appears to have secretly released a Greece-owned oil tanker that it had seized two years ago, data from TankerTrackers.com, Inc showed as tensions between the Islamic Republic and the United States flare up again amidst deadly suppression of mass protests in Iran. Iran captured the tanker St Nikolas in January 2024 in the Gulf of Oman, in retribution for the U.S. seizure of 1 million barrels of Iranian oil the previous year. At the time of the seizure, the vessel was traveling to the Turkish port of Aliaga after loading crude from the Iraqi Basrah Oil Terminal. Now the St Nikolas…
2026-01-13T16:12:02.660Z Share Copy link Email Facebook WhatsApp X LinkedIn Bluesky Threads 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. Polymarket partnered with the Golden Globes, showing viewers betting odds for each award category. Ultimately, Polymarket bettors guessed correctly 26 out of 28 times. CEO Shayne Coplan took a victory lap on X: “A surreal moment and a highlight for all our team members’ moms.” The Golden Globes is…
1PointFive, the carbon capture, utilization and sequestration (CCUS)-focused subsidiary of energy giant Occidental (Oxy) announced a new agreement with global management consulting firm Bain & Company for the purchase of 9,000 metric tons of carbon dioxide removal (CDR) credits over three years. The CDR credits for the new agreement will be generated using direct air capture (DAC) technology from 1PointFive’s STRATOS facility in Texas. 1PointFive’s DAC facilities capture CO2 directly from the atmosphere compress it into a liquid and store it deep underground or use it to produce low-carbon products. Currently progressing through start-up activities, STRATOS is expected to be…
Oil prices have rebounded sharply on geopolitical risk despite no meaningful supply losses.Call Options Go Wild as Brent Traders Bet Big on Chaos- Iran protests and the increasing probability that US President Trump would exploit that unrest for another series of strikes on Tehran have been dragging oil prices higher, boosting oil options trading in recent days. – This Monday witnessed the busiest-ever single day of Brent crude call option trading (556,000 contracts) as market participants rushed to the market to protect themselves against sudden price spikes.- According to Bloomberg, ICE Brent’s second-month options ‘skew’ now favours calls instead of puts,…
Norsk e-Fuel AS has been awarded a positive funding decision under Business Finland’s Tax Credit for large clean transition investments scheme for its Finnish subsidiary, Norsk e-Fuel Rauma Oy. The decision grants the project up to EUR 150 million in tax credit support once the facility enters operation. The Tax Credit Scheme by Business Finland is a large-scale public funding mechanism designed to support major clean transition investments through tax relief. For Norsk e-Fuel Rauma Oy, the tax credit will be deducted from the company’s income tax starting from the year the plant starts operation and may be applied over…