China to ban water-polluting paper mills, oil refineries

By Kathy Chen and Dominique Patton BEIJING (Reuters) – China will ban water-polluting paper mills, oil refineries, pesticide producers and other industrial plants by the end of 2016, as it moves to tackle severe pollution of the country’s water supply. The long-awaited plan comes as the central government steps up its “war on pollution” after years of industrial development that have left one-third of China’s major river basins and 60

IS seizes parts of Iraq's largest oil refinery: officials

Jihadists from the Islamic State group broke into Iraq’s massive Baiji oil refinery, seized some of its facilities and are hiding among fuel storage tanks, officials said Wednesday. An Iraqi operation backed by coalition air strikes eventually broke the siege in October and retook the town of Baiji, just south of the refinery.

Nigeria in talks with Russia's Rosatom for nuclear power plants

By Chijioke Ohuocha and Svetlana Burmistrova LAGOS/MOSCOW (Reuters) – Nigeria is in talks with Russia’s state-owned Rosatom to build nuclear power plants, as Africa’s most populous nation tries to end of decades of blackouts that has blighted its economy. Africa’s biggest economy has no experience in developing and operating nuclear power plants but has a gamma facility and small reactors producing around 30 kilowatts for research, Franklin Erepamo Osaisai, chief

South Africa names bidders for 1,000 MW of green power

By Peroshni Govender JOHANNESBURG (Reuters) – South Africa has named preferred bidders for the fourth round of a series of renewable energy projects, that will add about 1,000 megawatts (MW) of power to its ailing grid, industry insiders said on Tuesday. Africa’s most advanced economy is committed to introducing green energy into its power mix, 95 percent of which is coal at the moment, to redress its chronic electricity shortages.

Exclusive: ConocoPhillips to launch U.S. asset sales – sources

ConocoPhillips is preparing the sale of noncore oil and gas producing acreage in the United States, in the latest sign that oil majors are becoming more accepting of lower oil prices, according to people familiar with the matter. While the world’s oil and gas companies have been looking to buy assets on the cheap since oil prices plummeted, epitomized by Royal Dutch Shell Plc’s agreement earlier this month to buy

Oil companies’ profits hit by quest for crude price exposure

The drop in big oil companies’ profits in the past eight months isn’t just a function of lower crude prices – it also reflects strategic choices. A Reuters examination of corporate filings by some of the biggest players in the industry, including BP , Shell and France’s Total , shows the sensitivity of these companies’ earnings to changes in oil prices has risen in recent years. This means that for