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News

Oil Holds Gains As Large Gasoline Draw Offsets Crude Build

Oil Holds Gains As Large Gasoline Draw Offsets Crude Build

Sep 22, 2020 at 15:40 | Julianne Geiger

The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 691,000 barrels for the week ending September 18. Analysts had predicted an inventory draw of…

Australia Plans US$13B Investment In Low-Emission Tech

Australia Plans US$13B Investment In Low-Emission Tech

Sep 22, 2020 at 15:05 | Charles Kennedy

Australia, the world’s top coal exporter, plans to invest over US$13 billion (18 billion Australian dollars) in low emission technologies through 2030, as it aims to deliver lower emissions, lower…

Chinese Oil Giant Could Buy Exxon's North Sea Assets

Chinese Oil Giant Could Buy Exxon's North Sea Assets

Sep 22, 2020 at 13:48 | Irina Slav

Sinopec and a private equity-backed company are among some half a dozen candidates to acquire Exxon’s North Sea assets that the supermajor put up for sale earlier this year. Kuwait…

China Promises To Do More To Tackle Climate Change

China Promises To Do More To Tackle Climate Change

Sep 22, 2020 at 10:33 | Irina Slav

China is ready to do more to tackle climate change, the country’s chief climate advisor said, as quoted by Reuters, and plans to deliver this message to the UN…

Pompeo: We are Building A Coalition Against Nord Stream 2

Pompeo: We are Building A Coalition Against Nord Stream 2

Sep 22, 2020 at 09:34 | Charles Kennedy

The United States is building a coalition aimed at preventing the completion of the Nord Stream 2 pipeline that will substantially increase the flow of Russian gas into Europe, the…

India Topped Its Strategic Petroleum Reserves With $19 A Barrel Oil

India Topped Its Strategic Petroleum Reserves With $19 A Barrel Oil

Sep 21, 2020 at 15:51 | Tsvetana Paraskova

India used the ultra-low crude oil prices earlier this year to top its strategic petroleum reserves with oil at $19 a barrel, saving nearly US$700 million in the process, India’s…

Canada’s No.1 Oil Hub Lost Its Only School

Canada’s No.1 Oil Hub Lost Its Only School

Sep 21, 2020 at 14:34 | Charles Kennedy

Hardisty, Alberta – the major oil hub in Canada that serves as the basis for the Canadian oil benchmark – doesn’t have a school anymore, and the community fears that…

Tesla's “battery day” Could Be Bad News For Cobalt Miners

Tesla's “battery day” Could Be Bad News For Cobalt Miners

Sep 21, 2020 at 12:50 | MINING.com

Elon Musk’s Tesla hosts its annual shareholder meeting on Tuesday, Sept. 22,…

CNOOC Begins Production At New Oilfield In South China Sea

CNOOC Begins Production At New Oilfield In South China Sea

Sep 21, 2020 at 12:08 | Charles Kennedy

China National Offshore Oil Corporation (CNOOC) said on Sunday it had started oil production from the Liuhua 16-2 oilfield cluster in the Eastern South China Sea, which is expected…

Norway’s Oil Fund Is Buying Bitcoin

Norway’s Oil Fund Is Buying Bitcoin

Sep 21, 2020 at 10:29 | Charles Kennedy

Norway’s sovereign wealth fund holds close to 600 Bitcoin through a 1.51-percent stake in MicroStrategy—a business intelligence firm that recently made headlines with its Bitcoin buying spree. The amount…

Canadian Miner Wants To Put Date On Sale Of Citgo Parent Company

Canadian Miner Wants To Put Date On Sale Of Citgo Parent Company

Sep 21, 2020 at 09:23 | Irina Slav

Crystallex, the Canadian mining company that years ago won a $1.4-billion arbitration against Venezuela’s PDVSA has urged a district judge to set a date for the sale of U.S. refiner…

U.S. Wants Bankrupt Offshore Drillers To Pick Up The Tab For Abandoned Wells

U.S. Wants Bankrupt Offshore Drillers To Pick Up The Tab For Abandoned Wells

Sep 20, 2020 at 09:58 | Tsvetana Paraskova

The U.S. Department of the Interior is proposing a regulation that will not allow oil producers to avoid picking up their offshore well decommissioning tab when they go bankrupt, the…

UK Energy Firms Could Switch Off EV Chargers As Demand Peaks

UK Energy Firms Could Switch Off EV Chargers As Demand Peaks

Sep 18, 2020 at 14:56 | Charles Kennedy

New rules proposed in the UK could see electricity distributors switching off electric vehicle (EV) chargers at home connected to the smart meter system to prevent grid overloads in…

Pompeo Promotes U.S. Companies To New Oil Nations Guyana, Suriname

Pompeo Promotes U.S. Companies To New Oil Nations Guyana, Suriname

Sep 18, 2020 at 10:40 | Charles Kennedy

U.S. Secretary of State Mike Pompeo carried out a promotional campaign for U.S. private companies in Suriname and Guyana, two small but newly famous for their oil wealth South American…

Libya To Lift Force Majeure On Exports Only If Military Exits Oil Facilities

Libya To Lift Force Majeure On Exports Only If Military Exits Oil Facilities

Sep 18, 2020 at 09:27 | Tsvetana Paraskova

Libya’s National Oil Corporation (NOC) is conditioning lifting the force majeure on the country’s oil exports on the demilitarization of all oil facilities and export terminals, NOC’s chairman Mustafa Sanalla…

UK Car Buyers Aren’t Sold On Electric Vehicles

UK Car Buyers Aren’t Sold On Electric Vehicles

Sep 17, 2020 at 17:29 | Charles Kennedy

A total of 79 percent of UK drivers would consider buying an electric vehicle (EV) or have already purchased one, but 70 percent would prefer to lease an EV for…

Russian Nuclear Giant Rosatom Eyes 10% Of Lithium Market By 2030

Russian Nuclear Giant Rosatom Eyes 10% Of Lithium Market By 2030

Sep 17, 2020 at 13:34 | MINING.com

Uranium One, a unit of Russia’s state-owned nuclear energy firm Rosatom, plans to begin…

GM Considers Expanding Into Electric-Flying Air-Taxis

GM Considers Expanding Into Electric-Flying Air-Taxis

Sep 17, 2020 at 11:25 | ZeroHedge

Like an elderly man wobbling into a party and trying to fit in with young kids by using "hip new lingo", General Motors - days after seeing its partnership with…

Saudi Oil Exports Rose In July From Record Lows

Saudi Oil Exports Rose In July From Record Lows

Sep 17, 2020 at 10:20 | Tsvetana Paraskova

Saudi Arabia, the world’s largest oil exporter, saw its crude oil exports rise to 5.734 million barrels per day (bpd) in July, up from a historic low of below 5…

Dakota Access Pipeline To Continue Operating Until End-2020

Dakota Access Pipeline To Continue Operating Until End-2020

Sep 17, 2020 at 09:32 | Irina Slav

The Dakota Access oil pipeline will continue operating at least until the end of the year when a federal court will be ready to rule on a lawsuit demanding that…

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