Aberdeen grew rich because of North Sea oil. Since oil prices have dropped, unemployment has been rising. Many workers from the oil industry have lost their homes because they can no longer pay their mortgages.
In the aftermath of Hurricane Harvey insurers, oil producers and home owners in Texas are cleaning up and itemizing the costs from the storm and the "unprecedented" flooding it brought. A quick recovery is expected.
French oil giant Total has agreed to purchase AP Moller-Maersk’s oil unit in a deal that will strengthen its position in the North Sea. It is also a sign that the global oil-and-gas business is partially back on track.
Norway trumpets its low carbon footprint, but a new report says plans to ramp up oil and gas production in the Arctic will increase its emissions by half again - making a mockery of its Paris Agreement promises.
In an attempt to keep the price of oil above $50 a barrel, OPEC has extended the production cut for another nine months. The decision came at a meeting between officials of oil exporting countries in Vienna.
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