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BP’s annual energy review shows big jump for renewables

Oil giant BP has published its annual Statistical World Energy Review for this year, and revealed that 17% of global energy growth came from renewable sources.

This year’s increase is the largest ever for renewables. Equivalent to about 69 million tonnes of oil, it would be enough to meet the energy demands of both Denmark and Sweden combined.

While wind power has been growing rapidly in the UK—driven by better economies of Continue reading BP’s annual energy review shows big jump for renewables

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Researchers announce new method for making biofuel

Researchers at the University of Turku in Finland have announced that they have found a new efficient way to use algae to make biofuel. In the new method, the algae uses solar energy to split water into its constituent elements.

According to the researchers, the green algae uses collected solar energy from photosynthesis to convert water into Continue reading Researchers announce new method for making biofuel

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Germans trial converting wind power into gas

German energy company Uniper has launched a new pilot scheme to make use of wind power by converting it into methane gas.

Wind power across Europe is growing rapidly, and the industry continues to make advancements in production, efficiency, and lubrication, such as from the advanced wind-power lubricants available through Continue reading Germans trial converting wind power into gas

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ExxonMobil looks for quick output from Guyana

ExxonMobil is looking for a quick return on its investment in the tiny South American country of Guyana amid claims from the IMF that its contract was “favourable” to the oil giant.

ExxonMobil, which in addition to being a major upstream oil producer also makes industrial lubricants like Mobil DTE 25, discovered deep-water oil in Continue reading ExxonMobil looks for quick output from Guyana

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Chevron tells executives to leave Venezuela after arrests

Following the arrests of two of its workers over a contractual dispute, Reuters reports sources saying that Chevron has evacuated its executives from Venezuela. Other workers have also been instructed to stay away from its facilities, which it operates as a joint venture with PDVSA, Venezuela’s state-owned oil company.

Since Venezuela’s government launched an anti-corruption purge last autumn, more than 80 PDVSA executives and other business partners have been accused of corruption. The arrests at Chevron were the first to involve a foreign oil company, however. The arrested workers reportedly Continue reading Chevron tells executives to leave Venezuela after arrests