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News

Midwest Senators Push To Reform Biofuel Waivers Program

Midwest Senators Push To Reform Biofuel Waivers Program

Jun 14, 2019 at 13:30 | Tsvetana Paraskova

A Republican and a Democrat Senators from farm states have introduced a bill to tweak the biofuel waivers program and increase its transparency in a bid to help ethanol…

Brazil’s Oil Sector Joins Nationwide Strike Against Pension Reform

Brazil’s Oil Sector Joins Nationwide Strike Against Pension Reform

Jun 14, 2019 at 12:53 | Tsvetana Paraskova

Workers at Brazilian state-held oil firm Petrobras joined on Friday a 24-hour nationwide strike in Brazil against proposed pension reforms that would raise the minimum retirement age and workers’ contributions,…

Tesla’s Solar Roof Prices Are Shockingly High

Tesla’s Solar Roof Prices Are Shockingly High

Jun 14, 2019 at 12:25 | Tsvetana Paraskova

Tesla is charging just over US$85,300 for its Solar Roof solution for a 9.45 kW system on a 1,862-square foot roof, Electrek reported on Friday, citing an actual Tesla…

Gazprom Neft Calls For End Of OPEC+ Oil Cuts

Gazprom Neft Calls For End Of OPEC+ Oil Cuts

Jun 14, 2019 at 10:45 | Irina Slav

OPEC and its partners should start increasing oil production to keep the market well supplied and prices reasonable, Gazprom Neft’s chairman Alexander Dyukov said, as quoted by Reuters. Dyukov’s…

Pemex Partner Auction Canceled

Pemex Partner Auction Canceled

Jun 14, 2019 at 09:39 | Irina Slav

An auction to pick foreign partners for Mexican state energy giant Pemex scheduled for October has been canceled by the country’s energy regulator, Reuters reported, noting the official information…

Libya’s NOC Warns Army Is Inside Key Crude Terminal

Libya’s NOC Warns Army Is Inside Key Crude Terminal

Jun 13, 2019 at 17:31 | Tsvetana Paraskova

Libya’s internationally recognized National Oil Corporation (NOC) said on Thursday that it is concerned about an increased military presence inside one of the country’s key oil terminals, Ras Lanuf,…

EVs Lose Resale Value Fast, But Not Tesla

EVs Lose Resale Value Fast, But Not Tesla

Jun 13, 2019 at 17:21 | Tsvetana Paraskova

Electric vehicles (EVs) are depreciating much faster than the average for all cars, with one notable exception—Tesla, whose vehicles hold values better than their gas-powered rivals. Automotive research firm and…

Canada May Have To Raise Carbon Tax To Meet Paris Climate Goals

Canada May Have To Raise Carbon Tax To Meet Paris Climate Goals

Jun 13, 2019 at 16:23 | Tsvetana Paraskova

Canada may have to raise its federal carbon tax if it wants to achieve its pledge under the Paris Agreement to reduce greenhouse gas emissions, Canada’s Parliamentary Budget Officer (PBO),…

Exxon, Saudi SABIC Proceed With $10B Petrochemical Plant In Texas

Exxon, Saudi SABIC Proceed With $10B Petrochemical Plant In Texas

Jun 13, 2019 at 15:57 | Tsvetana Paraskova

ExxonMobil and Saudi Arabia’s SABIC said on Thursday that they would proceed with a plan to build a US$10-billion petrochemical project in San Patricio County, Texas. Back in…

UK Energy Supplier SSE To Close Its Last Coal-Fired Power Plant

UK Energy Supplier SSE To Close Its Last Coal-Fired Power Plant

Jun 13, 2019 at 13:13 | Tsvetana Paraskova

UK energy provider SSE Plc said on Thursday that it is proposing to close its last coal-fired power plant in the country by March 2020, amid a national and…

Alberta Government Goes After The Media For Oil Sands Misinformation

Alberta Government Goes After The Media For Oil Sands Misinformation

Jun 13, 2019 at 11:33 | Irina Slav

The new conservative Alberta government has targeted media in a campaign aimed at improving the image of the oil sands industry as presented by Premier Jason Kenney. CBC News

Shale Boom Boosts Gas Flaring In 2018: World Bank

Shale Boom Boosts Gas Flaring In 2018: World Bank

Jun 13, 2019 at 10:09 | Irina Slav

Rising shale oil production in the United States that drove gas flaring up 48 percent in 2018 also pushed up the global total by 3 percent to 145 billion cubic…

Trump Threatens Germany With Sanctions Over Gas Pipeline Support

Trump Threatens Germany With Sanctions Over Gas Pipeline Support

Jun 13, 2019 at 09:43 | Irina Slav

President Trump continued his relentless offense against Russian gas in Europe this week by threatening to slap sanctions on Germany for its equally relentless support of the Nord Stream 2…

Saudi Aramco Just Did Something It Never Did Before

Saudi Aramco Just Did Something It Never Did Before

Jun 12, 2019 at 17:54 | Julianne Geiger

Saudi Arabia’s state-run oil company Saudi Aramco has announced a new financial first for the giant: it will hold its very first earnings call in August revealing to the world…

Iran Considers Removing Oil From Budget Due To ‘US Economic Terrorism’

Iran Considers Removing Oil From Budget Due To ‘US Economic Terrorism’

Jun 12, 2019 at 16:58 | Tsvetana Paraskova

Iran is considering revising its financial and budgetary policies to remove oil income from them as a means to “counter Washington’s economic sanctions that constitute a case of terrorism,” Iran’s…

Japan’s PM Visits Iran: Oil Trade Is On The Agenda

Japan’s PM Visits Iran: Oil Trade Is On The Agenda

Jun 12, 2019 at 16:48 | Tsvetana Paraskova

Oil trade and the U.S. sanctions on Iran’s oil industry will likely be part of the discussions that Japan’s Prime Minister Shinzo Abe will hold with Iran’s officials on the…

Norway To Okay $1-Trillion Wealth Fund’s Plan To Dump Oil Stocks

Norway To Okay $1-Trillion Wealth Fund’s Plan To Dump Oil Stocks

Jun 12, 2019 at 15:42 | Tsvetana Paraskova

Norway’s Parliament is expected to approve later on Wednesday plans by the government’s US$1-trillion fund—the world’s biggest sovereign wealth fund—to divest from oil and gas exploration companies in a…

Petrobras Plans $105 Billion In Investments Till 2023

Petrobras Plans $105 Billion In Investments Till 2023

Jun 12, 2019 at 13:54 | Irina Slav

Brazil’s Petrobras plans to invest a total US$105 billion in the five years to 2023 and divest assets worth US$35 billion, chief executive Roberto Castello Branco said this week as…

Shell Sells California Refinery for $1 Billion

Shell Sells California Refinery for $1 Billion

Jun 12, 2019 at 13:32 | Irina Slav

Shell has struck a deal with refiner PBF Energy to sell it its refinery in Martinez, California, for up to US$1 billion, depending on the closing date, the buyer

China's Biodiesel Imports Rise 194.2%

China's Biodiesel Imports Rise 194.2%

Jun 12, 2019 at 12:35 | JLC

China’s biodiesel imports increased in April 2019, as domestic demand moved up and the supply turned tight.China imported 38,669.1 mt of biodiesel (HS Code: 38260000) in April 2019,…

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