• 1 hour Russia, Saudis Team Up To Boost Fracking Tech
  • 7 hours Conflicting News Spurs Doubt On Aramco IPO
  • 8 hours Exxon Starts Production At New Refinery In Texas
  • 10 hours Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 1 day Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 1 day Oil Gains Spur Growth In Canada’s Oil Cities
  • 1 day China To Take 5% Of Rosneft’s Output In New Deal
  • 1 day UAE Oil Giant Seeks Partnership For Possible IPO
  • 1 day Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 1 day VW Fails To Secure Critical Commodity For EVs
  • 1 day Enbridge Pipeline Expansion Finally Approved
  • 1 day Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 1 day OPEC Oil Deal Compliance Falls To 86%
  • 2 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 2 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 2 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 2 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 2 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 2 days Aramco Says No Plans To Shelve IPO
  • 5 days Trump Passes Iran Nuclear Deal Back to Congress
  • 5 days Texas Shutters More Coal-Fired Plants
  • 5 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 5 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 5 days Chevron Quits Australian Deepwater Oil Exploration
  • 6 days Europe Braces For End Of Iran Nuclear Deal
  • 6 days Renewable Energy Startup Powering Native American Protest Camp
  • 6 days Husky Energy Set To Restart Pipeline
  • 6 days Russia, Morocco Sign String Of Energy And Military Deals
  • 6 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 6 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 6 days India Needs Help To Boost Oil Production
  • 6 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 6 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 6 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 6 days District Judge Rules Dakota Access Can Continue Operating
  • 7 days Surprise Oil Inventory Build Shocks Markets
  • 7 days France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
  • 7 days Syria’s Kurds Aim To Control Oil-Rich Areas
  • 7 days Chinese Teapots Create $5B JV To Compete With State Firms
  • 7 days Oil M&A Deals Set To Rise
The Safest Way To Bet On The Bitcoin Boom

The Safest Way To Bet On The Bitcoin Boom

Often described as the backbone…

Kurdistan Accuses Baghdad Of Planning Oil Field Seizure

Kurdistan Accuses Baghdad Of Planning Oil Field Seizure

Kurdistan authorities have accused the…

Chile Approves Controversial Massive Coal Mining Project

A Chilean high-level government commission has given final approval to the first of five mines, Mina Invierno, at Isla Riesco in the extreme south of Chile.

The $530 million Isla Riesco Island project is underwritten by the Copec and Ultramar companies, which intend eventually to construct five mines and a port.

When Isla Riesco comes fully online, it is expected that the complex will supply 30 percent of Chile’s demand for coal, El Mercurio newspaper reported.

Environmentalists are aghast, as they are concerned that the massive mining project will negatively affect the local environment, while burning the relatively low-quality coal from the Isla Riesco Island complex will tie Chile to 25 years of “dirty energy” production at a time of growing concern about global warming.

According to commission chair, Minister of the Environment María Ignacia Benítez, the Superintendent of the Environment will be monitoring Isla Riesco’s development to ensure that the company complies with the country’s environmental regulations.

Not everyone is convinced. Opposition politician Deputy Carolina Goic told the local media “What the government has done is green-light the destruction of a natural habitat, unique in the world, where vulnerable species like the huemul, the puma and the condor live.”

The huemul, a species of deer, is one of Chile’s two national animals and is featured on the state coat of arms.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News