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BP and TotalEnergies have scored leases to develop innovative offshore wind projects to reduce emissions and provide power to North Sea oil and gas platforms.
(Bloomberg) -- Oil retreated for a second session, tracking a slide in equity markets and feeling the effects of a stronger dollar.Most Read from BloombergDeutsche Bank Drops in Selloff Citi Describes as Irrational‘Zoom Towns’ Exploded in the Work-From-Home Era. Now New Residents Are Facing LayoffsJack Dorsey’s Wealth Tumbles $526 Million After Hindenburg ShortUBS Sends Khan to Stem Credit Suisse’s Private Banker ExitsCrude eliminated most of its weekly gains as fresh signs of stress in the bank
Drought in Spain, the world's largest olive oil producer, is likely to halve the country's output this year compared with the previous year, official estimates from the European Commission show, pushing prices up. Spain usually supplies about 40% of the world's output. Only the EU's third biggest largest producer, Greece, which was not hit by the weather conditions, was expecting production to improve, though not enough to offset the decline in Spain.