Last updateTue, 18 Dec 2018 4pm


Exxon Said to Pay $4 Billion for Oil Field

The energy giant Exxon Mobil has agreed to pay about $4 billion for a minority stake in an oil field off the coast of Ghana, a region that has emerged as a major new petroleum province, a person with knowledge of the matter said Tuesday.


Exxon’s acquisition of 23.49 percent of the Jubilee oil field underscored the interest that energy companies have shown in the 700 miles of Western African coastline that stretches from Sierra Leone to Ghana.


Source: New York Times


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Harvesting Gold from Rain

The most remarkable feature of the office tower rising at Russia Wharf might never be seen by its occupants or visitors. It lies within the building’s bowels, a network of pipes and valves designed to conserve more than 12.5 millions of gallons of water a year - enough to fill 19 Olympic-size swimming pools.


Source: Boston Herald


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Saudi Arabia Leads the Way in Petrochemical Exports

Thirty years ago, Saudi Arabia was an importer of petrochemicals. It is now a major exporter, providing some seven percent of the world's supply of basic petrochemicals. Last year, according to the WTO, these exports were worth $14.3 billion. Together with plastics, they account for over half of the Kingdom's nonoil exports.


Source: Arab News


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Russian Watchdog: Negligence Factor in Hydropower Plant Disaster That Killed 75

Russia's top industrial safety oversight official said Saturday that negligence was a major factor in a devastating accident at the country's biggest hydroelectric power plant, and hinted that high-level officials could face trial over the disaster that killed 75 workers.


Outlining a report on the causes of the Aug. 17 accident at the Sayano-Shushenskaya plant in southern Siberia, Rostekhnadzor director Nikolai Kutin described it in chilling detail.


Source: Associated Press


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Anti-Drilling Coalition Fractures

Oil and solar power may seem like strange bedfellows, but this week the Florida Solar Energy Industry Association -- a group that represents more than 100 solar companies statewide -- announced support for oil drilling within 10 miles of Florida's coast so long as oil tax money is used to subsidize solar installations.


The deal has upended a longstanding coalition of renewable energy businesses and environmentalists who tried unsuccessfully to pass a clean energy bill in recent years.


Source: Associated Press


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