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News

Mining Giant BHP Freezes Executive Salaries

Mining Giant BHP Freezes Executive Salaries

Sep 16, 2020 at 11:31 | MINING.com

Mining giant BHP (ASX, LON, NYSE: BHP) has frozen the salaries…

BP Plans 20 GW In Renewable Capacity By 2025

BP Plans 20 GW In Renewable Capacity By 2025

Sep 16, 2020 at 10:38 | Charles Kennedy

BP plans to have 20 GW of solar and wind generating capacity in its portfolio by 2025 as part of a strategy announced earlier this year. The strategy would…

Venezuela Prepares To Boost Oil Production With Iranian Help

Venezuela Prepares To Boost Oil Production With Iranian Help

Sep 16, 2020 at 09:38 | Irina Slav

Venezuela is preparing to ramp up its crude oil production using diluents imported from Iran, Reuters reports, citing unnamed sources and company documents. State-owned oil company PDVSA produced just…

Oil Rises On Major Crude Draw

Oil Rises On Major Crude Draw

Sep 15, 2020 at 15:49 | Julianne Geiger

The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 9.517 million barrels for the week ending September 11. Analysts had predicted an inventory draw…

Brazil’s Petrobras Restarts Trade With Major Oil Traders

Brazil’s Petrobras Restarts Trade With Major Oil Traders

Sep 15, 2020 at 13:45 | Tsvetana Paraskova

Petrobras is resuming oil trade with the world’s top commodity trading houses Vitol, Trafigura, and Glencore, after nearly two years of suspension amid a bribery investigation into the oil trading…

Iran Boosts Oil Output At Oilfields Shared With Iraq

Iran Boosts Oil Output At Oilfields Shared With Iraq

Sep 15, 2020 at 12:34 | Charles Kennedy

Iran has raised oil production from the oilfields in its southwest it shares with Iraq to 400,000 barrels per day (bpd) from 70,000 bpd in the past seven years, Shafaq…

OPEC’s New Headache Is Its Third-Biggest Producer

OPEC’s New Headache Is Its Third-Biggest Producer

Sep 15, 2020 at 12:20 | Tsvetana Paraskova

The United Arab Emirates (UAE), currently OPEC’s third-largest producer, breached its OPEC+ oil production quota by a massive 520,000 barrels per day (bpd) in August, data from the International Energy…

IEA Cuts Oil Demand Forecast On More Fragile Outlook

IEA Cuts Oil Demand Forecast On More Fragile Outlook

Sep 15, 2020 at 11:05 | Tsvetana Paraskova

For a second consecutive month, the International Energy Agency (IEA) cut on Tuesday its forecast for global oil demand this year, citing an “even more fragile outlook” about the oil…

Venezuela Charges U.S. Citizen With Spying

Venezuela Charges U.S. Citizen With Spying

Sep 15, 2020 at 09:28 | Charles Kennedy

Venezuela has charged a U.S. citizen arrested recently on allegations of spying with plotting terrorist attacks on oil refineries and the country’s electricity supply to incite unrest, the Associated Press…

Colombia’s Oil Major Plans To Drill 100 Wells In The Permian

Colombia’s Oil Major Plans To Drill 100 Wells In The Permian

Sep 14, 2020 at 16:58 | Charles Kennedy

Colombia’s state-held oil firm Ecopetrol, which has a strategic alliance with Occidental Petroleum to develop acreage in the Permian, plans to have drilled as many as 100 wells in…

India’s Oil Import Bill Shrinks, But So Do Crude Imports

India’s Oil Import Bill Shrinks, But So Do Crude Imports

Sep 14, 2020 at 14:36 | Tsvetana Paraskova

India paid much less for the crude oil imported between April and July 2020 compared to the same period last year, due to the significantly low oil prices and lower…

Saudi Aramco Retakes Crown From Apple As World’s Most Valuable Company

Saudi Aramco Retakes Crown From Apple As World’s Most Valuable Company

Sep 14, 2020 at 12:35 | Tsvetana Paraskova

Saudi Arabia’s oil giant Aramco reclaimed the spot of the world’s most valuable company after a relatively steady performance in Riyadh so far this month, while shares in Apple plunged…

Delivery Drones Will Soon Become A Reality

Delivery Drones Will Soon Become A Reality

Sep 14, 2020 at 12:24 | Safehaven.com

The world’s largest retailer, Walmart, just launched a pilot project on delivering select groceries and essential items using automated drones, and the implications are enormous, not just because Amazon won’t…

Gold Prices Near Two-Week High

Gold Prices Near Two-Week High

Sep 14, 2020 at 11:42 | MINING.com

Gold prices advanced higher on Monday as a weaker US dollar and expectations that…

OPEC Cuts Oil Demand Forecast For 2020, Again

OPEC Cuts Oil Demand Forecast For 2020, Again

Sep 14, 2020 at 10:26 | Tsvetana Paraskova

OPEC revised down by another 400,000 bpd its forecast for global oil demand this year, expecting consumption to shrink by 9.5 million bpd over 2019, cutting forecasts for the second…

Tropical Storm Sally Forces Drillers To Evacuate Gulf Of Mexico Oil Platforms

Tropical Storm Sally Forces Drillers To Evacuate Gulf Of Mexico Oil Platforms

Sep 14, 2020 at 09:35 | Charles Kennedy

Oil companies have started evacuating staff and shutting in oil production at about half a dozen platforms in the Gulf of Mexico ahead of tropical storm Sally, which is expected…

Trump Announces ‘Historic Peace Deal’ Between Bahrain And Israel

Trump Announces ‘Historic Peace Deal’ Between Bahrain And Israel

Sep 11, 2020 at 16:08 | Tom Kool

In a three-way phone call on Friday with Israeli Prime Minister Benjamin Netanyahu and King Hamad bin Isa Al Khalifa of Bahrain, U.S. President Trump announced that Bahrain…

Tesla In Discussions To Source Low-Carbon Nickel From Canada

Tesla In Discussions To Source Low-Carbon Nickel From Canada

Sep 11, 2020 at 15:59 | Charles Kennedy

Tesla is in talks with Canada's Giga Metals to potentially help it develop a nickel mine and buy the low-emissions nickel production for its batteries, Reuters reported on Friday,…

OPEC’s Third-Largest Producer Fails To Comply With Output Cuts

OPEC’s Third-Largest Producer Fails To Comply With Output Cuts

Sep 11, 2020 at 11:18 | Tsvetana Paraskova

The United Arab Emirates (UAE), currently OPEC’s third-largest producer, is estimated to have exported a lot more crude oil in August as it produced more than its quota…

Copper Prices Are Soaring On Growing Battery Metal Demand

Copper Prices Are Soaring On Growing Battery Metal Demand

Sep 11, 2020 at 11:07 | Ag Metal Miner

A fair part of the bull story for copper this year has been supply-side fears. The world’s largest mines are in South America, which has suffered…

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