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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.

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Riyadh’s $8 Billion Solar Surge Leaves Oil Strategy Untouched

OilPrice

The Kingdom, the world’s top crude oil exporter, wants to develop all forms of energy, diversify its economy from oil, and replace oil in power generation with renewables and natural gas. The Saudis are not abandoning their primary role in global oil production and supply.

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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. The energy tech company said in a media release that its Mature Assets Solutions team will execute the contract. 700K Industry Pros can’t be wrong.

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

OilPrice

Chinese scientists have achieved a significant milestone in clean energy tech after successfully adding fresh fuel to an operational thorium molten salt reactor, Chinese state media has reported. More significantly, China has relied heavily on long-abandoned American research

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Europe’s Oil Majors Scale Back Climate Ambitions

OilPrice

Europes oil and gas giants are increasingly scaling back their climate goals as they struggle to deliver on their ambitious clean energy pledges. Back in 2022, Norway's state-controlled energy giant Equinor ASA (NYSE:EQNR) laid out its roadmap to achieving net zero emissions.

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China Rejects Russia's Eastern Pipeline Plan

OilPrice

China has put an abrupt stop to a Russian proposal to export added volumes of natural gas eastward via Kazakhstan, deepening the financial woes of the erstwhile Russian energy behemoth, Gazprom. Gazprom has been urgently looking east to add export volume after the dramatic loss of market share in Europe.

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Borehole Battery: A Promising Solution for Energy Storage

POWER Magazine

These wells are often abandoned once […] The post Borehole Battery: A Promising Solution for Energy Storage appeared first on POWER Magazine. For more than a century, fossil fuel companies have drilled oil and gas wells to increase the production, consumption, and export of fossil fuels.