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Hedge Funds Abandon Energy Stocks Amid Oil Price Slump

OilPrice

Hedge funds last week sold off stocks of energy companies at the quickest pace in 10 months as oil prices slumped following the announcement of a ceasefire in the 12-day Iran-Israel war. The selling was seen across the board in energy stocks in every region, Goldman Sachs analysts wrote in a note to clients carried by Reuters. investment bank.

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Abandoned Oil Wells Pose Growing Risks in Permian Basin

OilPrice

As the number of depleted and abandoned oil wells in the West Texas Permian Basin continues to grow in the long shadow of the United States shale revolution, associated environmental and public health hazards are ballooning in tandem.

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Baker Hughes Scores Plug and Abandonment Job from Equinor

Rigzone

Image by JHVEPhoto via iStock Baker Hughes Company was selected by Equinor ASA to provide plug and abandonment services in the Oseberg East field on Norway’s continental shelf. To manage the project, Baker Hughes said it will set up a Plug and Abandonment Centre of Excellence in Bergen and Stavanger.

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Baker Hughes awarded Equinor contract for P&A work in North Sea

Oil & Gas 360º

(World Oil) – Baker Hughes will provide Equinor plug and abandonment (P&A) services in the Oseberg East field on Norway’s continental shelf. Through this integrated P&A program, Baker Hughes will plug and abandon wells and provide project management services on behalf of Equinor.

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China Unveils World’s 1st ‘Meltdown Proof’ Thorium Reactor

OilPrice

More significantly, China has relied heavily on long-abandoned American research According to Guangming Daily, the 2-megawatt experimental reactor is located in the Gobi Desert, and the latest milestone puts China at the forefront in the race to build a practical thorium reactorlong considered a more abundant and safer alternative to uranium.

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China Rejects Russia's Eastern Pipeline Plan

OilPrice

The Russian state-controlled entity, once a critical foreign policy instrument of the Kremlin, has been forced to abandon projects in Central Asia and Latin America recently due to a lack of fiscal muscle. Gazprom has been urgently looking east to add export volume after the dramatic loss of market share in Europe.

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Europe’s Oil Majors Scale Back Climate Ambitions

OilPrice

Equinor has also abandoned plans to invest in Vietnam's offshore wind sector, dealing a significant blow to the country's Back in 2022, Norway's state-controlled energy giant Equinor ASA (NYSE:EQNR) laid out its roadmap to achieving net zero emissions.