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News

Iran’s New Oil Minister Discusses Oil Developments With China’s CNPC

Iran’s New Oil Minister Discusses Oil Developments With China’s CNPC

Sep 02, 2021 at 11:11 | Tsvetana Paraskova

Iran’s new Oil Minister, Javad Owji, met on Thursday with a top official from the China National Petroleum Corporation (CNPC) in Tehran to discuss cooperation and expansion of bilateral relations.…

Africa Needs To Invest $130 Billion Per Year To Go Net-Zero By 2050

Africa Needs To Invest $130 Billion Per Year To Go Net-Zero By 2050

Sep 02, 2021 at 10:18 | Irina Slav

Africa needs investments to the tune of $130 billion annually to become a net-zero continent by 2050, a report by Friends of the Earth has suggested. According to a…

Mexican Government Presses Ahead With Controversial Oil Market Reform

Mexican Government Presses Ahead With Controversial Oil Market Reform

Sep 02, 2021 at 08:41 | Charles Kennedy

The Mexican government is moving ahead with a comprehensive revamp of the country’s energy market aimed to virtually undo all the reforms implemented by the previous government and re-establish state-owned…

Alberta’s ‘War Room’ Plans Ad Campaign In Support Of Oil Industry

Alberta’s ‘War Room’ Plans Ad Campaign In Support Of Oil Industry

Sep 01, 2021 at 15:47 | Charles Kennedy

The Canadian Energy Centre, also referred to as Alberta’s energy “war room,” is seeking proposals for a new ad campaign aimed at building support for Canada’s oil industry in eastern…

Oil-Producing Countries Need Support In Net-Zero Scenario

Oil-Producing Countries Need Support In Net-Zero Scenario

Sep 01, 2021 at 15:17 | Charles Kennedy

Oil-producing countries need international support to diversify and lessen their dependence on oil revenues if the world has any hope of reaching net-zero emissions, Iraq’s finance minister and the head…

Chip Shortage Is Becoming A Serious Problem For EV Maker NIO

Chip Shortage Is Becoming A Serious Problem For EV Maker NIO

Sep 01, 2021 at 14:26 | Tsvetana Paraskova

China’s electric vehicle maker NIO revised down on Wednesday its guidance for vehicle production this quarter, citing uncertainty over semiconductor supply and becoming the latest automaker to suffer supply…

Uncertainty About Business Travel Could Keep Jet Fuel Down

Uncertainty About Business Travel Could Keep Jet Fuel Down

Sep 01, 2021 at 13:09 | Tsvetana Paraskova

While tourism airline travel is set to eventually return to pre-pandemic levels, business travel could become a permanent drag on air travel post COVID, delaying the full recovery of jet…

Oil Prices Climb As OPEC+ Stands Firm On Production Plan

Oil Prices Climb As OPEC+ Stands Firm On Production Plan

Sep 01, 2021 at 11:28 | Julianne Geiger

OPEC+ has decided to keep its production plans in place, according to OPEC. The previous—and current—plan is for the group to add 400,000 barrels per day in output for…

Aluminum Prices Hit 10-Year High As China Looks To Cut Emissions

Aluminum Prices Hit 10-Year High As China Looks To Cut Emissions

Sep 01, 2021 at 11:05 | ZeroHedge

Aluminum prices on the London Metal Exchange hit a 10-year high Tuesday, extending a year-long vertical surge as demand rebounds and supply shrinks, as smelters in top producer China faced tougher…

Israel Stops Onshore Oil Exploration Permits

Israel Stops Onshore Oil Exploration Permits

Sep 01, 2021 at 10:43 | Tsvetana Paraskova

Israel will no longer issue onshore oil exploration permits, Energy Minister Karine Elharrar said this week, vowing to focus on renewable energy sources. "Starting today, no more licenses will be…

Federal Government Presents Plan To Resume Oil And Gas Leases

Federal Government Presents Plan To Resume Oil And Gas Leases

Sep 01, 2021 at 09:24 | Charles Kennedy

The federal government said it would soon resume oil and gas leasing, opening up millions of acres of federal land for drilling, most of it in the Gulf of Mexico.…

API Reports Larger-Than-Expected Crude Draw Ahead Of Key OPEC Meeting

API Reports Larger-Than-Expected Crude Draw Ahead Of Key OPEC Meeting

Aug 31, 2021 at 15:47 | Julianne Geiger

The American Petroleum Institute (API) on Tuesday reported a large draw in crude oil inventories of 4.045 million barrels for the week ending August 27, bringing the total 2021 crude…

The World Officially Stops Using Leaded Gasoline After 99 Years

The World Officially Stops Using Leaded Gasoline After 99 Years

Aug 31, 2021 at 13:30 | Charles Kennedy

After 99 years, the world officially eliminated the use of leaded gasoline as gas stations in Algeria stopped offering leaded fuel, the UN Environment Programme (UNEP) said this week,…

Libya's Oil Industry Faces Crisis Following The Ouster Of NOC Chairman

Libya's Oil Industry Faces Crisis Following The Ouster Of NOC Chairman

Aug 31, 2021 at 13:05 | Charles Kennedy

The tension among Libya’s top oil officials escalated on Sunday when Oun said he had suspended the chairman of NOC, which is the most important revenue asset for OPEC’s African member…

Labour Day Gasoline Prices To Hit 7-Year High

Labour Day Gasoline Prices To Hit 7-Year High

Aug 31, 2021 at 12:55 | ZeroHedge

It's the end of summer, and millions of Americans are about to pay the highest gas prices since 2014, thanks to Hurricane Ida's blow to the…

Here’s How AOC Could Send Gold To $10,000 And Bitcoin To $1 Million

Here’s How AOC Could Send Gold To $10,000 And Bitcoin To $1 Million

Aug 31, 2021 at 11:36 | ZeroHedge

Excited at the prospect of gold at $10,000 and Bitcoin at $1,000,000 in short order? Here's one way it could happen. The collective brain trust that is Reps. Alexandria Ocasio-Cortez,…

OPEC Raises Oil Production To Highest Since April 2020

OPEC Raises Oil Production To Highest Since April 2020

Aug 31, 2021 at 11:18 | Tsvetana Paraskova

OPEC has been pumping in August the highest volume of crude oil since April 2020, after the OPEC+ alliance agreed to ease the production cuts by 400,000 barrels per day…

U.S. Gasoline Prices Jump Following Hurricane Ida

U.S. Gasoline Prices Jump Following Hurricane Ida

Aug 31, 2021 at 10:24 | Tsvetana Paraskova

U.S. gasoline prices rose on Monday from the cheapest price since early July seen during the weekend, as oil refiners on the Gulf Coast began assessing the damage from Hurricane…

Line 3 Pipeline Project Scores A Victory At Minnesota Court

Line 3 Pipeline Project Scores A Victory At Minnesota Court

Aug 31, 2021 at 09:18 | Charles Kennedy

The Line 3 oil pipeline project scored a victory at a Minnesota court, which rejected a challenge to Enbridge's water permit for the pipeline. "We conclude that the MPCA's [Minnesota…

Oil And Gas Once Again In U.S. Government Crosshairs

Oil And Gas Once Again In U.S. Government Crosshairs

Aug 30, 2021 at 16:54 | Julianne Geiger

The U.S. Federal Trade Commission is investigating how it can crack down on oil and gas mergers and whether gas station franchises are artificially sending retail gasoline prices up, according…

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