Energy

Oil giant ExxonMobil has been overtaken by Florida-based NextEra Energy, a big player in the wind and solar energy, as the most valuable US energy company by market value.

The shareholders of Noble Energy have approved a deal to sell the oil and gas producer to Chevron Corp. The deal which was approved on Friday will make Chevron the No. 2 U.S. shale oil producer and giving it international natural gas reserves close to growing markets.

The Shareholders of Noble Energy Inc NBL.O are expected to approve its sale to Chevron for about $4.2 billion in stock on Friday, cementing the first big energy deal since the coronavirus crushed global fuel demand

As part of what it described as a major overhaul to shift to low-carbon energy, Royal Dutch Shell on Wednesday announced plans to cut up to 9,000 jobs, or over 10% of its workforce.

In what is seen as a major drive to save cash so it can overhaul its business and focus more on renewable energy and power markets, Royal Dutch Shell is looking to slash up to 40% off the cost of producing oil and gas.

Oil giant BP is in a significant step towards its energy transition goals has entered the offshore wind market on Thursday with a $1.1 billion deal to buy 50% stakes in two U.S. developments from Norway’s Equinor.

The introduction of methanol technology will go a long way in reducing gas flaring in the country, the Minister of Science and Technology, Dr. Ogbonnaya Onu, has said.

The US currently tops the list on the global liquefied natural gas market, GlobalData’s latest report has revealed.

The head of the largest U.S. energy oil industry organization cautioned that Americans risk-taking the "wrong path" in the 2020 presidential election by banning drilling if they vote for a candidate who aims to combat climate change.