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News

Tax Relief To Push Norway’s Oil Investments Higher

Tax Relief To Push Norway’s Oil Investments Higher

Aug 20, 2020 at 16:44 | Charles Kennedy

Despite the coronavirus-induced crisis, investments in oil and gas activity in Norway are expected to rise by 1.6 percent this year compared to 2019, thanks to higher oil prices and…

New Guyana Oil Rules Could Delay Exxon’s Developments

New Guyana Oil Rules Could Delay Exxon’s Developments

Aug 20, 2020 at 15:04 | Tsvetana Paraskova

The new government in the world’s newest oil producer, Guyana, looks to raise the requirement for local content in employment and procurement of goods and services in the offshore…

An Innovative Way To Deal With Soaring Battery Demand

An Innovative Way To Deal With Soaring Battery Demand

Aug 20, 2020 at 14:24 | MINING.com

The Ministry of Economic Affairs, Labor and Housing of the German state of Baden-Württemberg announced that it will finance a two-year project aimed at investigating how to best…

Iran Unveils Two New Missiles As Tensions With The U.S. Escalate

Iran Unveils Two New Missiles As Tensions With The U.S. Escalate

Aug 20, 2020 at 13:31 | RFE/RL staff

Iran has displayed what it described as two new ballistic and cruise missiles, in defiance to U.S. calls that Tehran halts its missile program.

Saudi Arabia To Force OPEC+ Overproducers To Compensate For 2.3 Million Bpd

Saudi Arabia To Force OPEC+ Overproducers To Compensate For 2.3 Million Bpd

Aug 20, 2020 at 12:19 | Tsvetana Paraskova

The OPEC+ group has as much as 2.31 million barrels per day (bpd) of oil production above the collective quota for May-July to offset in August and September, Reuters

How COVID Nearly Killed Public Transport

How COVID Nearly Killed Public Transport

Aug 20, 2020 at 11:28 | Oxford Business Group

Many of the emerging world’s mass transit systems have seen demand nosedive as a result of the coronavirus pandemic. Lockdowns, social distancing, and remote working – as well…

Nigeria Plans To Boost Oil Production By 250,000 Bpd

Nigeria Plans To Boost Oil Production By 250,000 Bpd

Aug 20, 2020 at 10:25 | Irina Slav

Even though the West African country has typically produced more oil than allowed under the OPEC+ production cut agreement, Nigeria has plans to boost production by about a quarter of…

General Haftar Reopens Libyan Oil Ports Temporarily

General Haftar Reopens Libyan Oil Ports Temporarily

Aug 20, 2020 at 09:11 | Irina Slav

The Libyan National Army led by General Khalifa Haftar will reopen Libya’s oil ports for a short while to empty tanks with crude oil and condensate and ship them abroad,…

Russia Complies 100% With OPEC+ Production Cut Quota

Russia Complies 100% With OPEC+ Production Cut Quota

Aug 19, 2020 at 17:44 | Julianne Geiger

Russia is complying 100% with the OPEC+ production cut quota, according to Alexander Novak, who spoke to Rossiya-24 television on Wednesday, Russian news agency Tass reported. “We are at…

EV Metal Index Surges 64% As Europe Becomes Largest Market For Electric Vehicles

EV Metal Index Surges 64% As Europe Becomes Largest Market For Electric Vehicles

Aug 19, 2020 at 16:07 | MINING.com

Europe has now overtaken China – not long ago responsible for every other electric car sold worldwide – as the globe’s largest EV market.  Over the first seven months of…

Arab World’s First Nuclear Plant Now On The Grid

Arab World’s First Nuclear Plant Now On The Grid

Aug 19, 2020 at 13:22 | Tsvetana Paraskova

The Arab World’s first nuclear power plant has been connected to the grid of the United Arab Emirates (UAE), the Emirates Nuclear Energy Corporation (ENEC) said on Wednesday, two…

Tech Giants Are Building Carbon Footprint Software For Big Oil

Tech Giants Are Building Carbon Footprint Software For Big Oil

Aug 19, 2020 at 12:17 | Charles Kennedy

A growing number of oil and gas companies are looking to measure and reduce their carbon emissions under increased pressure from shareholders to join the fight against climate change -…

Trump Seeks To Slap More Sanctions On Venezuela

Trump Seeks To Slap More Sanctions On Venezuela

Aug 19, 2020 at 10:35 | Charles Kennedy

The U.S. federal government is considering more sanctions to add to a list aimed at severing the lifeline between the Venezuelan government and oil revenues that, according to Washington, are…

Haftar May Reopen Oil Ports In Libya To Tackle Power Shortages

Haftar May Reopen Oil Ports In Libya To Tackle Power Shortages

Aug 19, 2020 at 09:32 | Irina Slav

Libyan ports could reopen to release the fuel needed to end power shortages ports of the country, The National reports, citing the commander of a group affiliated with Khalifa…

Russia’s Crude Oil Exports To Europe May Not Stay Low For Long

Russia’s Crude Oil Exports To Europe May Not Stay Low For Long

Aug 18, 2020 at 16:59 | Tsvetana Paraskova

Russia’s seaborne crude oil exports are trending lower so far in August compared to July, but with Russia ramping up production with the easing of the OPEC+ cuts, this summer’s…

Oil Markets Retreat After API Reports Large Gasoline Build

Oil Markets Retreat After API Reports Large Gasoline Build

Aug 18, 2020 at 15:51 | Julianne Geiger

A large build in gasoline inventories which offset a modest draw in crude oil inventories cooled bullish sentiment in markets somewhat on Tuesday afternoon The American Petroleum Institute (API) reported…

Tesla’s China-Made Vehicles See Sales Crash 24% In July

Tesla’s China-Made Vehicles See Sales Crash 24% In July

Aug 18, 2020 at 15:38 | Tsvetana Paraskova

Tesla’s registrations of China-made vehicles in the world’s largest auto market slumped by 24 percent month over month to 11,456 in July, Bloomberg reported, citing data from state-backed China…

Gulf Of Mexico Oil Industry Could Get A Boost From Trump

Gulf Of Mexico Oil Industry Could Get A Boost From Trump

Aug 18, 2020 at 14:16 | Michael Kern

The Trump Administration is looking at the possibility of extending the limits for the length of tiebacks in the Gulf of Mexico to allow operators to connect more wells to…

California Grid Operator Cancels Planned Outages

California Grid Operator Cancels Planned Outages

Aug 18, 2020 at 11:14 | Charles Kennedy

The California Independent System Operator has cancelled a series of planned power outages amid a heat wave that pushed temperatures into triple-digit territory, the AP reports, citing the grid…

Mexican President Wants To Cancel Energy Deal With Brazil’s Odebrecht

Mexican President Wants To Cancel Energy Deal With Brazil’s Odebrecht

Aug 18, 2020 at 09:36 | Irina Slav

Mexico’s President Andres Manuel Lopez Obrador wants to cancel an energy deal with a consortium backed by Brazilian conglomerate Odebrecht, Reuters has reported, citing a news conference. “That contract…

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