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Study brands World Bank loan program a failure

Study brands World Bank loan program a failure

At the expense of cleaner options, a multi-billion dollar global fund is encouraging the construction of fossil fuel projects. An NGO said that while undermining renewable schemes some World Bank policy loans had the effect of supporting coal, gas and ...

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German oil refinery shares sold off by Total

German oil refinery shares sold off by Total

Total has sold a 16.67% share in an oil refinery in Germany. The sale and purchase agreement has been signed with stated-owned Russian oil company Rosneft. The PCK Raffinerie GmbH, located in the city of Schwedt, has a distillation capacity of ...

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UK company plan to frack in Yorkshire

UK company plan to frack in Yorkshire

An independent oil and gas producer Third Energy has submitted a planning application to frack in North Yorkshire. If approved by the North Yorkshire County Council, they plan to explore for gas at it’s site in Kirby Misperton. The necessary permits are ...

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BP pulls out of green fuel joint venture

BP pulls out of green fuel joint venture

Oil giant BP has sold it’s stake in Vivergo Fuel to Associated British Foods (ABF) which is now the majority shareholder with 94% interest. Vivergo was formed in 2007 as a joint venture between the two companies – which had ...

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BP sells North Sea gas pipeline stake for £324m

BP sells North Sea gas pipeline stake for £324m

BP has old part of it’s share in a UK North Sea project for £324 million. Antin Infrastructure Partners has bought a 36.22% interest in the Central Area Transmission System (CATS), which transports and processes gas for most of the major ...

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Osborne cuts tax on North Sea oil in 2015 Budget

Osborne cuts tax on North Sea oil in 2015 Budget

Chancellor George Osborne announced in his 2015 Budget speech that he will guarantee tax relief for North Sea oil and gas companies. He confirmed the so-called Supplementary Charge would be reduced from 30% to 20% with immediate effect and would ...

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Norwegian oil and gas sector not looking good

Norwegian oil and gas sector not looking good

According to experts, the Norwegian oil and gas industry have a bleak outlook for 2015. Sector analysts Wood Mackenzie warned that cuts in oil and gas exploration will be large, following the drastic price drop in oil in recent months. ...

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North Sea oil and gas exploration reforms announced

North Sea oil and gas exploration reforms announced

The UK treasury has announced a new set of reforms to boost oil and gas exploration in the North Sea. It includes introducing a basin-wide “investment allowance” designed to cut the tax rate for companies investing in the future of ...

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Fixed price tariff offered to homes that use heating oil

Fixed price tariff offered to homes that use heating oil

Homes that rely on oil for their heating have been offered a fixed price tariff for oil in what has claimed to be an industry first yesterday. Fuel company Craggs Energy said its new tariff will stop people being “at ...

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First shipment of offshore Arctic oil reaches Europe

First shipment of offshore Arctic oil reaches Europe

Energy giant Gazprom announced that the Russian President Vladimir Putin hailed the first shipment of Arctic oil to Europe on Friday. 70,000 tonnes of oil was shipped from the Prirazlomnoye platform, which was involved in a protest last year after 28 ...

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