Bloomberg Iraq has asked BP Plc to cut crude production at the nation’s biggest field of Rumaila by 10% as part of a push to comply with OPEC+ quotas, according to a person familiar with the matter, who asked not to be identified as the matter is private. The deposit, near the southern oil hub of Basra, produces almost 1.5 ...

Bloomberg Carbon capture, the fossil-fuel industry’s favourite weapon against climate change, has never really caught on because of the cost. That may be about to change. The Internal Revenue Service (IRS) recently issued crucial guidance to help developers take advantage of tax credits for the systems, and supporters say it could usher in a new era for the controversial technology. “It’s ...

Bloomberg Despite environmental concerns, California will allow PG&E Corp to use diesel-powered mobile generators to keep some electricity flowing when the utility proactively cuts power to prevent live wires from sparking fires in high wind. State regulators signed off on PG&E’s plan to use about 450 megawatts of diesel generation to power homes, businesses, hospitals and other critical facilities as ...