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News

UK Risks Blackouts Warns Grid Operator

UK Risks Blackouts Warns Grid Operator

Sep 07, 2020 at 17:01 | Charles Kennedy

The UK’s National Grid said on Monday that proposed new rules of energy company investments in the networks reduce the reliability and resilience of the electricity supply in the…

New Tax Rule Could Cost Russian Fuel Oil Exporters $1B Annually

New Tax Rule Could Cost Russian Fuel Oil Exporters $1B Annually

Sep 07, 2020 at 14:23 | Tsvetana Paraskova

A new export tax rule in Russia could cost domestic exporters of fuel oil as much as US$1 billion in missed sales every year, Reuters has estimated.   Russia…

Russia Says It Complied Nearly 100% With OPEC+ Oil Deal

Russia Says It Complied Nearly 100% With OPEC+ Oil Deal

Sep 07, 2020 at 13:35 | Tsvetana Paraskova

Russia complied nearly 100 percent with its share of oil production cuts in August as per the OPEC+ deal, Russian Energy Minister Alexander Novak said on Monday. Independent assessments…

The Energy Jobs Gen Z Actually Want

The Energy Jobs Gen Z Actually Want

Sep 07, 2020 at 13:12 | Michael Kern

Fossil fuels are out. At least according to the younger generations. Neither millennials nor their up-and-coming counterparts, the zoomers, or Gen Z, are particularly interested in working in…

Total Ditches Environmentally Sensitive Brazilian Oil Blocks

Total Ditches Environmentally Sensitive Brazilian Oil Blocks

Sep 07, 2020 at 11:57 | Charles Kennedy

French supermajor Total is giving up operatorship of five exploration blocks offshore Brazil in an environmentally sensitive area for which it has failed to secure drilling permits numerous times. Total…

Libya Experiences More Blackouts As Oil Ports Remain Blocked

Libya Experiences More Blackouts As Oil Ports Remain Blocked

Sep 07, 2020 at 10:41 | Tsvetana Paraskova

Libya's central and southern regions experienced a major power outage on Thursday, the state General Electricity Company of Libya (GECOL) said on Friday, while Libya's oil terminals remain blocked for…

Iraq To Boost Refinery Capacity

Iraq To Boost Refinery Capacity

Sep 07, 2020 at 09:35 | Charles Kennedy

Iraq plans to increase the processing capacity of its Qayara refinery in the northern part of the country to 90,000 bpd, Argus Media reported. Currently, the capacity of the…

Oil Major Total, Carmaker PSA Set Up $6B EV Battery Venture

Oil Major Total, Carmaker PSA Set Up $6B EV Battery Venture

Sep 04, 2020 at 16:45 | Tsvetana Paraskova

Supermajor Total continues to invest in clean energy by creating a joint venture with automaker Groupe PSA to manufacture batteries for electric vehicles in Europe—a project expected to mobilize investment…

Russia Expects Oil Demand To Drop By 10 Million Bpd In 2020

Russia Expects Oil Demand To Drop By 10 Million Bpd In 2020

Sep 04, 2020 at 14:46 | Tsvetana Paraskova

Global oil demand is expected to decline by 9 million bpd-10 million bpd this year, Russia's Energy Minister Alexander Novak said on Friday.   The estimate is more pessimistic…

Mexico Shuts The Door To Foreign Oil Companies

Mexico Shuts The Door To Foreign Oil Companies

Sep 04, 2020 at 11:41 | Irina Slav

There will be no new exploration and production contracts on the table for private or foreign companies in Mexico under a government plan set to be made public soon. “We…

UK To Review North Sea Oil Licensing Policy

UK To Review North Sea Oil Licensing Policy

Sep 04, 2020 at 11:01 | Michael Kern

The UK will review its current licensing policy for oil and gas exploration in the North Sea to have it aligned to the country’s ambition to achieve net-zero emissions by…

Aramco Workers Head Back To The Office

Aramco Workers Head Back To The Office

Sep 04, 2020 at 09:32 | Charles Kennedy

Aramco’s staff, who have been working from home during the worst of the pandemic, have started returning to offices and work sites, Bloomberg reports, adding some 75 percent of…

Mexico Could Be Forced To Cut Oil Production Target For 2021

Mexico Could Be Forced To Cut Oil Production Target For 2021

Sep 03, 2020 at 17:19 | Julianne Geiger

Mexico will likely cut its crude oil production targets for next year, according to Bloomberg, citing a ruling party lawmaker in Mexico. The shift in strategy signals that Mexico’s state-run…

U.S. Sanctions More Companies For Illegally Trading Oil With Iran

U.S. Sanctions More Companies For Illegally Trading Oil With Iran

Sep 03, 2020 at 17:04 | Julianne Geiger

The United States has added more entities to its sanctions list for actions that it said violated current sanctions on Iran that seek to limit its oil trade, according to…

U.S. Fuel Economy Standards Led To Big Savings, Lower Emissions

U.S. Fuel Economy Standards Led To Big Savings, Lower Emissions

Sep 03, 2020 at 16:36 | Michael Kern

The U.S. fuel economy standards, one of the longest-running energy regulations in the United States, have led to big savings for consumers and helped cut greenhouse gas emissions and America’s…

Robot Dogs Could Be The Next Big Thing For Miners

Robot Dogs Could Be The Next Big Thing For Miners

Sep 03, 2020 at 15:13 | MINING.com

Geospatial technology company Carlson Software and Ghost Robotics announced that they have…

Rosneft Says It Is Not Supplying Oil Products To North Korea

Rosneft Says It Is Not Supplying Oil Products To North Korea

Sep 03, 2020 at 14:24 | Tsvetana Paraskova

Russia’s largest oil producer, state-controlled Rosneft, said on Thursday in response to a media report that it does not ship petroleum products to North Korea and does not do…

One Injured, One Missing As Oil Tanker Catches Fire Off Sri Lanka

One Injured, One Missing As Oil Tanker Catches Fire Off Sri Lanka

Sep 03, 2020 at 13:06 | Charles Kennedy

One person was injured and another went missing after an oil tanker carrying crude oil from Kuwait to India caught fire east of Sri Lanka, the Sri Lanka Navy

Liberty Looks To Dethrone Halliburton In Oilfield Services Sector Shakeup

Liberty Looks To Dethrone Halliburton In Oilfield Services Sector Shakeup

Sep 03, 2020 at 11:40 | Irina Slav

Liberty Oilfield Services (NYSE:LBRT) aims to become the largest provider of hydraulic fracturing services, replacing Halliburton (NYSE:HAL) at the top, the company’s chief executive told Bloomberg in an…

China’s Oil Giants Announce Net-Zero Ambitions

China’s Oil Giants Announce Net-Zero Ambitions

Sep 03, 2020 at 10:32 | Tsvetana Paraskova

China’s largest state-held oil firms have recently announced plans to reduce emissions, with the biggest oil and gas producer PetroChina even pledging net-zero greenhouse gas emissions by 2050, the first…

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