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News

Trump Administration Announces Huge Gulf of Mexico Oil & Gas Lease Sale

Trump Administration Announces Huge Gulf of Mexico Oil & Gas Lease Sale

Jul 18, 2019 at 16:41 | Charles Kennedy

The U.S. Secretary of the Interior David Bernhardt and Bureau of Ocean Energy Management (BOEM) announced Thursday that BOEM proposes to offer 77.8 million acres for a region-wide lease sale.…

Opposition: Venezuela’s Debt To Russia, China To Be Renegotiated Via Paris Club

Opposition: Venezuela’s Debt To Russia, China To Be Renegotiated Via Paris Club

Jul 18, 2019 at 14:00 | Tsvetana Paraskova

If Venezuela’s Nicolas Maduro is ousted, loans from his allies Russia and China would be renegotiated via the creditor group Paris Club, as is customary for bilateral debt negotiations, Ricardo…

Eni’s Oil Tanker Fiasco

Eni’s Oil Tanker Fiasco

Jul 18, 2019 at 12:08 | Tsvetana Paraskova

After refusing last month to take an oil cargo over suspicions that its origin could have been at least partially Iranian, Italy’s oil major Eni has now filed…

China Data Breakdown: Oil Consumption Rises 5.8% In H1 2019

China Data Breakdown: Oil Consumption Rises 5.8% In H1 2019

Jul 18, 2019 at 10:13 | JLC

China’s crude throughput totaled around 316.97 million mt in the first half of 2019, up by 5.8% year on year, data from the National Bureau of Statistics showed. In June alone,…

Nuclear Watchdog: Ohio Delivers “Death Blow” To Renewables

Nuclear Watchdog: Ohio Delivers “Death Blow” To Renewables

Jul 18, 2019 at 09:41 | Tsvetana Paraskova

As Ohio is close to rescuing FirstEnergy’s two nuclear reactors in the state from early retirement by providing financial subsidies, opponents of the nuclear and coal industries and proponents of…

African Crude For This Ill-Fated Refinery Heads To Canada

African Crude For This Ill-Fated Refinery Heads To Canada

Jul 17, 2019 at 17:28 | Julianne Geiger

Crude oil on its way from Africa to the United States, destined for an ill-fated refinery that plans to close its doors permanently in Pennsylvania, is being diverted to

Oil Prices Tank As Washington Names Moderate Liaison To Lead Iran Negotiations

Oil Prices Tank As Washington Names Moderate Liaison To Lead Iran Negotiations

Jul 17, 2019 at 17:17 | Julianne Geiger

Oil prices were sent crashing on Wednesday afternoon after a Politico report that US Senator Rand Paul may soon sit down at the negotiating table with Iranian Foreign Minister…

Morgan Stanley: Tesla May Open Shanghai Gigafactory Sooner Than Forecast

Morgan Stanley: Tesla May Open Shanghai Gigafactory Sooner Than Forecast

Jul 17, 2019 at 17:08 | Tsvetana Paraskova

Tesla could open its Chinese factory currently under construction in Shanghai sooner than forecast, Morgan Stanley said on Wednesday, adding that it expects the U.S. electric vehicle maker to…

Eni Managers Accused of Attempted Witness Tampering In Oil Corruption Case

Eni Managers Accused of Attempted Witness Tampering In Oil Corruption Case

Jul 17, 2019 at 13:50 | Tsvetana Paraskova

An Italian prosecutor told a local court on Wednesday the court was made aware that managers at Italy’s oil major Eni tried to tamper with a witness in an…

Oil Minister Says India Won’t Totally Ban Gasoline, Diesel Cars

Oil Minister Says India Won’t Totally Ban Gasoline, Diesel Cars

Jul 17, 2019 at 12:14 | Tsvetana Paraskova

India’s government doesn’t plan to completely ban diesel and gasoline vehicles because continuously rising fuel demand has to be met by a combination of fossil fuels, biofuels, and electric vehicles,…

Cuban Power Outages May See End By Saturday

Cuban Power Outages May See End By Saturday

Jul 17, 2019 at 11:03 | Tsvetana Paraskova

After days of radio silence, Cuban officials say that the massive blackouts throughout the country would end by Saturday, as another power crisis engulfed the ally of Venezuela’s Nicolas…

UK’s Prime Minister To Discuss Seized Iranian Oil Tanker With Gibraltar

UK’s Prime Minister To Discuss Seized Iranian Oil Tanker With Gibraltar

Jul 17, 2019 at 09:31 | Tsvetana Paraskova

The Prime Minister of the United Kingdom, Theresa May, is discussing on Wednesday the issue with the Iranian oil tanker seized last week by Royal Marines and Gibraltar suspected…

Small Crude Draw Can’t Stop Oil From Plunging

Small Crude Draw Can’t Stop Oil From Plunging

Jul 16, 2019 at 15:51 | Julianne Geiger

The American Petroleum Institute (API) reported a small crude oil inventory draw of 1.401 million barrels for the week ending July 11, compared to analyst expectations of a 2.69-million…

Turkey Won’t Back Down From Cyprus Oil Drilling Despite EU Sanctions

Turkey Won’t Back Down From Cyprus Oil Drilling Despite EU Sanctions

Jul 16, 2019 at 13:54 | Charles Kennedy

The Turkish Foreign Affair Ministry on Tuesday rejected the notion of European Union sanctions on Turkey over its drilling for gas in disputed eastern Mediterranean waters, pledging…

Major Energy Firms Could Vie For Brazil’s Opening Natural Gas Sector

Major Energy Firms Could Vie For Brazil’s Opening Natural Gas Sector

Jul 16, 2019 at 13:50 | Tsvetana Paraskova

Major energy firms could be interested in buying stakes in Brazilian state-held natural gas distribution companies as Brazil is looking to open the sector to more competition, experts have told…

Tesla Cuts Model 3 Prices In New Sales Push

Tesla Cuts Model 3 Prices In New Sales Push

Jul 16, 2019 at 10:53 | Tsvetana Paraskova

Tesla is cutting the starting price of its Model 3 to US$38,990, but it’s dropping standard-range variants of the premium Models S and X, lifting their starting prices, Reuters…

U.S. Intel: UAE Tanker Could Have Been Forced Into Iranian Waters

U.S. Intel: UAE Tanker Could Have Been Forced Into Iranian Waters

Jul 16, 2019 at 09:34 | Tsvetana Paraskova

The U.S. intelligence increasingly believes that a United Arab Emirates (UAE) tanker may have been forced into Iranian waters by naval forces of Iran’s Islamic Revolutionary Guard Corps (IRGC), CNN…

U.S. Sees Rare Fall In Energy-Related CO2 Emissions In 2019

U.S. Sees Rare Fall In Energy-Related CO2 Emissions In 2019

Jul 15, 2019 at 17:36 | Julianne Geiger

The decrease in coal-derived energy in favor of natural gas-derived energy has the Energy Information Administration (EIA) forecasting that the CO2 emissions in the United States will fall in 2019,…

India Weighs Spin-Off Of Largest Utility’s Gas Pipeline Business

India Weighs Spin-Off Of Largest Utility’s Gas Pipeline Business

Jul 15, 2019 at 16:47 | Tsvetana Paraskova

India’s government is mulling over a plan to spin off the natural gas pipeline business of its biggest gas utility GAIL (India) Ltd in a bid to increase transparency, Bloomberg…

China’s Carbon Emissions Surged 53.5% In 10-Years Time

China’s Carbon Emissions Surged 53.5% In 10-Years Time

Jul 15, 2019 at 13:58 | Tsvetana Paraskova

China’s greenhouse gas emissions jumped by 53.5 percent in the decade between 2005 and 2014, according to Chinese government figures that Beijing is obliged to report as a signatory…

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