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News

China Increases Oversight On Crude Import Of Oil Majors

China Increases Oversight On Crude Import Of Oil Majors

May 27, 2021 at 10:31 | Tsvetana Paraskova

Chinese authorities have urged some of the biggest state-owned oil firms to provide information about their use of imported crude as part of a wider attempt to close tax loopholes…

Senators Propose Pro-Nuclear Tax Amendment

Senators Propose Pro-Nuclear Tax Amendment

May 27, 2021 at 09:23 | Charles Kennedy

Three Senators have proposed an amendment to tax credits to boost the competitiveness of nuclear power, Reuters reports, adding that the proposal is part of a wider energy reform…

Activist Investor Wins Exxon Board Seats In Day Of Reckoning For Big Oil

Activist Investor Wins Exxon Board Seats In Day Of Reckoning For Big Oil

May 26, 2021 at 18:21 | Julianne Geiger

Activist investor fund Engine No. 1 was victorious today in Exxon’s annual shareholder meeting on Wednesday. Engine No. 1, small though it may be, was successful in obtaining at least…

Norway's Oil Industry Boosts Investment Despite IEA Report

Norway's Oil Industry Boosts Investment Despite IEA Report

May 26, 2021 at 16:43 | Tsvetana Paraskova

Oil firms expect to spend 4.8 percent more on oil and gas operations offshore Norway in 2021 compared to the previous estimate three months ago, thanks to more fields coming…

Dutch Court Orders Shell To Slash Emissions In Historic Climate Case

Dutch Court Orders Shell To Slash Emissions In Historic Climate Case

May 26, 2021 at 15:09 | Tsvetana Paraskova

A Dutch court ordered on Wednesday oil supermajor Shell to slash its carbon emissions by 45 percent by 2030 in a landmark ruling in a climate case brought by environmentalists…

Iran Bans Crypto Mining During Hot Summer Months

Iran Bans Crypto Mining During Hot Summer Months

May 26, 2021 at 13:36 | Tsvetana Paraskova

Iran is banning electricity-sapping cryptocurrency mining until the end of September as it grapples with power blackouts amid electricity scarcity. Even before the peak summer electricity demand season, Iran has…

Nissan May Build Huge Battery Plant In The UK

Nissan May Build Huge Battery Plant In The UK

May 26, 2021 at 11:35 | MINING.com

Car giant Nissan is said to be in advanced negotiations with the UK government…

Ford Confirms That 4 Out Of 10 Cars It Sells In 2030 Will Be Electric

Ford Confirms That 4 Out Of 10 Cars It Sells In 2030 Will Be Electric

May 26, 2021 at 10:39 | ZeroHedge

Ford's hopes to follow in Tesla's and GM's footsteps and piggyback on the EV/ESG bandwagon will be tested this morning, with Ford stock spiking then sliding in jittery trade after 

Analyst: Iran’s Oil To Return To Market In August At The Earliest

Analyst: Iran’s Oil To Return To Market In August At The Earliest

May 26, 2021 at 09:19 | Tsvetana Paraskova

If the ongoing talks about the U.S. and Iran returning to the nuclear deal result in an agreement, it will be in August at the earliest that Iranian barrels will…

Oil Rises On Bullish API Inventory Report

Oil Rises On Bullish API Inventory Report

May 25, 2021 at 15:41 | Julianne Geiger

The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 439,000 barrels for the week ending May 21. Analysts had predicted a draw of

Biden Administration Looks To Build Two Wind Farms Off California's Coast

Biden Administration Looks To Build Two Wind Farms Off California's Coast

May 25, 2021 at 14:45 | Julianne Geiger

The Biden Administration is looking to further its green agenda with two wind farms off the California coast. The wind farms would generate as much power as 1.6 million households…

India’s Refiners, Oil Operators Prepare For Cyclone Yaas

India’s Refiners, Oil Operators Prepare For Cyclone Yaas

May 25, 2021 at 11:45 | Charles Kennedy

The largest refiners in India, as well as offshore oil producers and port operators, are preparing for Cyclone Yaas, which has formed in the Bay of Bengal and is expected…

Mexico Makes Strategic Move To Snag U.S. Refinery

Mexico Makes Strategic Move To Snag U.S. Refinery

May 25, 2021 at 09:51 | Irina Slav

Shell has struck a deal with its partner in the Deer Park refinery, Pemex, to sell the facility. The deal was instigated by Pemex, not Shell. "Shell did not plan…

More Than 50% Of UK Oil Jobs Could End Up In Renewables By 2030

More Than 50% Of UK Oil Jobs Could End Up In Renewables By 2030

May 25, 2021 at 09:41 | Charles Kennedy

More than half of the people currently employed in the UK’s offshore oil and gas industry could by 2030 be working on low-carbon energy projects, research from Robert Gordon University…

California Launches Rulemaking To Ban Fracking In 2024

California Launches Rulemaking To Ban Fracking In 2024

May 24, 2021 at 16:13 | Charles Kennedy

California initiated on Friday the pre-rulemaking stage of proposed legislation that would end fracking in the state in 2024. The Department of Conservation, Geologic Energy Management Division released…

$150 Billion In Stolen Oil Money Smuggled Out Of Iraq

$150 Billion In Stolen Oil Money Smuggled Out Of Iraq

May 24, 2021 at 15:47 | Irina Slav

Some $150 billion in oil revenues has been stolen and smuggled out of Iraq since the fall of Saddam Hussain in 2003, the president of Iraq said, as quoted…

EU Looks To Tax Jet Fuel In Push To Cut Emissions

EU Looks To Tax Jet Fuel In Push To Cut Emissions

May 24, 2021 at 14:26 | Tsvetana Paraskova

The European Union (EU) is looking to extend energy taxation to the aviation industry as the bloc is ramping up efforts to raise its chances of reaching the targets in…

People Protest Over Lack Of Jobs In Gulf Oil Producer Oman

People Protest Over Lack Of Jobs In Gulf Oil Producer Oman

May 24, 2021 at 13:26 | Tsvetana Paraskova

People took to the streets in cities in Arab Gulf oil producer Oman this weekend and on Monday in protest over the poor economy and lack of jobs, the Associated…

Rising Saudi Exports Drive OPEC Shipments Increase In May

Rising Saudi Exports Drive OPEC Shipments Increase In May

May 24, 2021 at 11:44 | Charles Kennedy

The ten OPEC members bound by the OPEC+ production agreement have increased their collective crude oil exports by more than 1 million barrels per day (bpd) so far in May,…

Dakota Access To Remain In Operation, Judge Rules

Dakota Access To Remain In Operation, Judge Rules

May 24, 2021 at 10:37 | Charles Kennedy

The Dakota Access crude oil pipeline will remain in operation while federal regulators conduct a new environmental analysis of the infrastructure, Bloomberg reported, citing a ruling by the U.S.…

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