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News

China To Build Airport, Houses Under Oil-For-Projects Deal In Iraq

China To Build Airport, Houses Under Oil-For-Projects Deal In Iraq

Jul 26, 2021 at 15:08 | Charles Kennedy

Chinese firms are set to build an airport and 90,000 houses in Iraq as part of a 2019 agreement for crude supply in exchange for projects, an Iraqi official was…

Armenia Looks At UAE To Help Build Major Solar Plants

Armenia Looks At UAE To Help Build Major Solar Plants

Jul 26, 2021 at 13:01 | Eurasianet

The Armenian government is looking to expand the country’s renewable energy capacity with an ambitious plan to build two new solar power plants. This month, the…

Pembina Terminates Agreement To Buy Inter Pipeline In All-Stock Deal

Pembina Terminates Agreement To Buy Inter Pipeline In All-Stock Deal

Jul 26, 2021 at 12:54 | Tsvetana Paraskova

Pembina Pipeline Corporation has terminated its previous agreement to buy Inter Pipeline in the latest twist in the biggest multi-billion fight over pipeline resources control in Canada since 2019. On…

China Strikes Back At EU For Carbon Border Tax

China Strikes Back At EU For Carbon Border Tax

Jul 26, 2021 at 12:20 | Irina Slav

The European Union is breaching trade principles with its proposal to impose a so-called carbon border tax that would push up the prices of non-EU products sold in the bloc…

Volkswagen CEO: EVs Will Be Cheaper Than ICE Vehicles In “2 To 3 Years”

Volkswagen CEO: EVs Will Be Cheaper Than ICE Vehicles In “2 To 3 Years”

Jul 26, 2021 at 11:30 | ZeroHedge

Ever since the forced adoption of EVs by governments worldwide, all eyes have been on when the electric vehicles would finally make economic sense…

Chinese Refiner Reportedly Dodged $2 Billion In Fuel Taxes

Chinese Refiner Reportedly Dodged $2 Billion In Fuel Taxes

Jul 26, 2021 at 10:24 | Irina Slav

An independent Chinese refiner may have avoided paying some $2 billion in taxes by falsifying the kind of fuels it sells, Bloomberg has reported, citing a report in a…

Houthis Advance On Oil-Rich Province In Yemen

Houthis Advance On Oil-Rich Province In Yemen

Jul 26, 2021 at 09:15 | Charles Kennedy

The force of the Yemeni Houthis are advancing towards the country's oil-rich Shabwah province, Iran's Fars News reported this weekend, adding that the advance was an attempt "to choke…

OPEC, Energy Industry Should Thank Saudi Arabia For Oil Price Recovery

OPEC, Energy Industry Should Thank Saudi Arabia For Oil Price Recovery

Jul 23, 2021 at 19:39 | Julianne Geiger

OPEC—as well as the entire energy industry—should be thanking Saudi Arabia for its “magnificent” job in managing their production during the Covid-19 pandemic, according to Robert Yawger, executive director of…

U.S. Jet Fuel Inventories Aren’t Going Anywhere

U.S. Jet Fuel Inventories Aren’t Going Anywhere

Jul 23, 2021 at 18:03 | Julianne Geiger

U.S. crude oil inventories may finally be below the five-year average for this time of year, but U.S. jet fuel inventories are still sky-high—a nagging reminder that the pandemic’s impact…

World’s Largest Oil Trader Pays Billions To Execs, Staff

World’s Largest Oil Trader Pays Billions To Execs, Staff

Jul 23, 2021 at 18:01 | Julianne Geiger

The coronavirus pandemic was good to the oil trading segment of the energy industry. While oil and gas companies floundered as oil demand tanked and lockdowns ensued, oil traders such…

Biden Administration Earmarks Funds For Coal Communities

Biden Administration Earmarks Funds For Coal Communities

Jul 23, 2021 at 12:38 | Tsvetana Paraskova

The Biden Administration is committing $300 million to invest in the economic development of coal and coal power plant-affected communities as part of a $3-billion funding for investment in America’s…

India's Largest Refiner Plans To Ramp Up Capacity This Decade

India's Largest Refiner Plans To Ramp Up Capacity This Decade

Jul 23, 2021 at 10:33 | Tsvetana Paraskova

Indian Oil Corporation (IOC), the largest oil refiner in the country, looks to boost its crude oil refining capacity by one-third over the next half-decade as it believes gasoline and…

FBI: China Is Behind Past Oil & Gas Pipeline Cyberattacks

FBI: China Is Behind Past Oil & Gas Pipeline Cyberattacks

Jul 23, 2021 at 09:29 | Tsvetana Paraskova

State-sponsored Chinese actors targeted U.S. oil and gas pipeline companies in a spearphishing and intrusion campaign between 2011 and 2013, a Joint Cybersecurity Advisory, coauthored by the Cybersecurity and Infrastructure…

PDVSA Snubs Crude Sanctions With Condensate Imports

PDVSA Snubs Crude Sanctions With Condensate Imports

Jul 22, 2021 at 17:21 | Julianne Geiger

PDVSA is offloading more than a half a million barrels per day of condensate that it has imported in order to blend with its extra heavy crude oil, according to…

Iran Inaugurates Oil Export Terminal To Bypass Strait Of Hormuz

Iran Inaugurates Oil Export Terminal To Bypass Strait Of Hormuz

Jul 22, 2021 at 17:19 | Tsvetana Paraskova

Iran's outgoing President Hassan Rouhani officially opened on Thursday the country's new oil export terminal built to allow the Islamic Republic to ship crude oil without the need for…

Barclays Sees Gradual Oil Price Rally

Barclays Sees Gradual Oil Price Rally

Jul 22, 2021 at 13:27 | Julianne Geiger

The forecasts for $100 oil are still being bandied about. But there is a new sober in the market after oil prices came crashing down earlier this…

Startup Unveils Frugal Iron-Based Energy Storage

Startup Unveils Frugal Iron-Based Energy Storage

Jul 22, 2021 at 13:23 | Charles Kennedy

Form Energy, a startup developing energy storage solutions, said on Thursday that it had developed an iron-air battery chemistry that could help incorporate more renewable energy into the power…

Beijing Has Tech Giant Didi In The Crosshairs

Beijing Has Tech Giant Didi In The Crosshairs

Jul 22, 2021 at 10:48 | ZeroHedge

Didi shares are taking it on the chin once again in premarket trading Thursday following reports that Chinese regulators are preparing to hammer the ride-hailing giant with a…

US-Sanctioned Chinese Firm Helps Iran, Venezuela To Export Oil

US-Sanctioned Chinese Firm Helps Iran, Venezuela To Export Oil

Jul 22, 2021 at 10:39 | Tsvetana Paraskova

A Chinese logistics company has become the key intermediary helping Iran and Venezuela to export their crude oil in defiance of the U.S. sanctions against the two OPEC members, multiple…

Japan To Cut LNG, Coal In Power Sector As It Bets On Renewables

Japan To Cut LNG, Coal In Power Sector As It Bets On Renewables

Jul 22, 2021 at 10:14 | Tsvetana Paraskova

The world's largest importer of liquefied natural gas (LNG) and one of the biggest importers of coal, Japan, aims to significantly raise the share of renewable power in its electricity…

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