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As more countries begin to implement plans to reach climate goals agreed to in Paris last year, the global solar industry will again accelerate to about 20 percent annual growth over the next few years.
The conflict with Islamic State, which swept through swaths of northern Iraq in the summer of 2014, has destroyed economic infrastructure, disrupted trade and discouraged investment.
U.S. refiners have fared better than other parts of the energy industry during the downturn, as cheaper crude prices have boosted their margins
Nigeria’s oil minister, speaking on a panel at the World Economic Forum in the Swiss resort, said the Organization of Petroleum Exporting Countries needs to meet soon as crashing prices force the group to reconsider its current laissez-faire policy.
Brent oil in London has dropped more than 60 percent since November 2014, when OPEC decided to refrain from cutting output in the face of a global oversupply in an effort to defend market share.
The oil slump is draining billions of dollars from the banking system, stock markets are volatile, investment is slowing and global banks are firing workers to boost returns.
Flotek Industries, a supplier of equipment and materials for hydraulic fracking, said the U.S. Securities and Exchange Commission is investigating its FracMax software and the efficacy of one of the company’s chemicals.
Suncor secured a deal to buy Canadian Oil Sands for about C$4.2 billion ($2.9 billion) by sweetening its offer after earlier bids were rejected.
The energy sector had a few strong performers despite the overall turmoil.
Genel Energy Plc and DNO ASA have buy ratings from more than 70 percent of analysts tracked by Bloomberg. The reason? A tight rein on costs and abundant output.