Italian major Eni plans to exit traditional refining activities within the next decade as it is focused on bio-refineries and accelerating its transition to low-carbon energy, chief executive Claudio Descalzi told Bloomberg in an interview. The top executive spoke a month after Eni announced in June a “new business structure to be a leader in […]
In retrospect, it’s impressive that it lasted as long as it did. Four months after OPEC cobbled together a record production cut to offset the demand destruction unleashed by the COVID-19 lockdowns, R-OPEC+ (i.e., OPEC plus Russia and a bunch of non-OPEC exporters) is set to slowly resume pumping more after an alliance of producers […]
Last month, OPEC and its non-OPEC allies, known as OPEC+, agreed to extend their deep production cuts through July in an effort to rebalance oversupplied markets in the face of pandemic-hit demand. The cuts were supposed to take ~10% off the markets with July’s cut clocking in at 9.6 million bpd. But now there are […]
