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Oil’s collapse has affected BG less than some of its peers because it’s one of the few producers increasing output as projects start in Australia and Brazil.
The Anglo-Dutch oil major’s upstream earnings fell 71 percent to $493 million, though the company said lower costs offset the plunge.
The use of LNG and compressed natural gas — another new CNG fueling station opened Thursday in Houston — in commercial vehicles has rapidly expanded because of the nation’s cheap and bountiful supply of natural gas.
Ninety-nine percent of BG Groups shareholders approved the deal.
Shell CEO Ben van Beurden said he was pleased by “the confidence that shareholders have shown in the strategic logic of the combination of Shell and BG.”
Shell had already announced some 7,500 in layoffs last year.
In its monthly oil market report, OPEC predicted the oil bust will force global non-OPEC output to sink by 660,000 barrels a day this year, a 69-percent downward revision of its prior monthly forecast.
While oil companies such as Exxon Mobil Corp. and Royal Dutch Shell Plc eliminate jobs and curb capital spending to cope with prices that have fallen two-thirds in 18 months, renewables are enjoying a renaissance underpinned by rules designed to curb fossil-fuel emissions damaging the atmosphere.
With crude prices stuck firmly below $40 a barrel, and energy companies predicting another austere year in 2016, here’s a look back at some of the most popular stories that appeared on FuelFix.com this year.
The Anglo-Dutch oil major on Wednesday said it aims to pump enough gas from the Corrib gas field to quench as much as 60 percent of Ireland’s demand for gas.