(Bloomberg) — The World Bank will support the development of Mozambique’s giant natural gas resources if it’s the cheapest way to boost energy security in one of the world’s poorest nations, according to an official. The Washington-based lender in 2019 stopped financing oil and gas extraction projects, aside from “exceptional circum...
(Bloomberg) — President Joe Biden is limiting oil leasing in Arctic waters and sensitive areas of Alaska, taking steps to expand conservation as his administration prepares to approve a mammoth ConocoPhillips oil development in the region. Biden is expanding an Obama-era ban on new oil and gas leasing in U.S. Arctic waters and will write ne...
(Bloomberg) — India will not breach Western sanctions on Russia, including the price cap of $60 imposed on purchases of oil from Moscow, according to people familiar with the matter. Government authorities have asked banks and traders to adhere to the rules, the people said, declining to be identified as the information isn’t public. Indi...
(Bloomberg) — The Biden administration has decided to authorize a ConocoPhillips oil project in northwest Alaska, rejecting arguments from environmental activists who insist it will exacerbate climate change, according to people familiar with the matter. After weeks of deliberations, senior advisers have signed off on the move, which repres...