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News

Exelon Says Record Nuclear Capacity Failed To Clear PJM Power Auction

Exelon Says Record Nuclear Capacity Failed To Clear PJM Power Auction

May 24, 2018 at 15:56 | Tsvetana Paraskova

U.S power company Exelon said on Thursday that three of its nuclear plants did not clear in the annual capacity auction of grid operator PJM and that across all…

Gazprom Avoids Fine In EU Antitrust Settlement

Gazprom Avoids Fine In EU Antitrust Settlement

May 24, 2018 at 13:42 | Tsvetana Paraskova

Gazprom has dodged a fine in the settlement of the seven-year-long antitrust dispute with the European Union (EU), after the Russian gas giant agreed to change market behavior and ensure…

India’s Fuel Price Problem Needs Urgent Solution

India’s Fuel Price Problem Needs Urgent Solution

May 24, 2018 at 13:25 | Irina Slav

Soaring gasoline and diesel prices in India require urgent action, Oil Minister Dharmendra Pradhan told media, and the government is trying to find a solution to the problem, which…

Nigerian Firm To Partner With Rosneft To Develop 21 African Oil Assets

Nigerian Firm To Partner With Rosneft To Develop 21 African Oil Assets

May 24, 2018 at 12:57 | Tsvetana Paraskova

Nigerian oil and gas exploration company Oranto Petroleum will be cooperating with Russia’s largest oil producer Rosneft to develop 21 oil assets across Africa, an Oranto official told S&P…

Kazakhstan Tries To Get Back $22B In Frozen Assets

Kazakhstan Tries To Get Back $22B In Frozen Assets

May 24, 2018 at 11:19 | Irina Slav

Kazakhstan has asked an appeals court to overturn a decision that saw BNY Mellon freeze a assets worth more than US$22 billion held in the bank by the country’…

Saudi-led Coalition Destroys Houthi Boats Threatening Oil Tanker

Saudi-led Coalition Destroys Houthi Boats Threatening Oil Tanker

May 23, 2018 at 17:50 | Tsvetana Paraskova

The Saudi-led Arab military coalition destroyed on Wednesday two boats of the Iran-aligned Houthi rebels threatening a commercial oil tanker in the Red Sea, the United Arab Emirates’ (UAE) state…

Syrian Diplomat Accuses US-led Coalition Of Bombing Oil Wells

Syrian Diplomat Accuses US-led Coalition Of Bombing Oil Wells

May 23, 2018 at 14:53 | Tsvetana Paraskova

The U.S.-led coalition is deliberately bombing oil wells in Syria to punish Damascus and make it pay millions of dollars to restore work at those fields, Syria’s Deputy Foreign Minister…

The UK North Sea Is Back With Successful Oil Licensing Round

The UK North Sea Is Back With Successful Oil Licensing Round

May 23, 2018 at 14:41 | Tsvetana Paraskova

The UK Oil and Gas Authority (OGA) awarded on Wednesday 123 licenses over 229 blocks or part-blocks to 61 companies in the 30th Offshore Licensing Round in the UK North…

IEA: Clean Energy Tech Falling Short Of Climate Goals

IEA: Clean Energy Tech Falling Short Of Climate Goals

May 23, 2018 at 12:55 | Tsvetana Paraskova

Most clean-energy technologies are not on track to meet the world’s long-term climate goals, make energy universally accessible, and significantly lower air pollution, with just 4 out of 38 techs…

China Set To Import More LNG From U.S.

China Set To Import More LNG From U.S.

May 23, 2018 at 11:53 | Irina Slav

China will take in more natural gas from the United States to satisfy growing domestic demand, a Chinese consultancy has said amid trade talks between Washington and Beijing seeking to…

B.C. Sues Alberta Over ‘Turn-Off-Fuel-Tap’ Legislation

B.C. Sues Alberta Over ‘Turn-Off-Fuel-Tap’ Legislation

May 23, 2018 at 10:51 | Tsvetana Paraskova

The bitter dispute over the expansion of the Trans Mountain crude oil pipeline between British Columbia and Alberta took another legal turn for the worse on Tuesday after B.C.

Two Mexican Firms Sign First Deal Without Pemex

Two Mexican Firms Sign First Deal Without Pemex

May 23, 2018 at 10:06 | Irina Slav

Two Mexican oil companies have signed the first oilfield operation deal without the participation of state energy major Pemex, Bloomberg reports. The companies are Mexico’s first listed oil producer,…

Tesla Set To Win Big As China Slashes Car Import Tariffs

Tesla Set To Win Big As China Slashes Car Import Tariffs

May 23, 2018 at 09:20 | Tsvetana Paraskova

Amid easing of tensions in the U.S.-China trade dispute, China is slashing its import tariffs on cars and car parts from July 1 in what could be a boon to…

Crude Prices Suppressed As API Reports Gasoline Build

Crude Prices Suppressed As API Reports Gasoline Build

May 22, 2018 at 15:49 | Julianne Geiger

As the price of Brent Crude hovers near the $80 mark, the American Petroleum Institute (API) reported a draw of 1.3 million barrels of United States crude oil inventories for…

Santos Rejects U.S. Harbour Energy $10.9B Takeover Bid

Santos Rejects U.S. Harbour Energy $10.9B Takeover Bid

May 22, 2018 at 14:01 | Tsvetana Paraskova

Australia’s oil and gas producer Santos rejected on Tuesday the best and final US$10.9-billion (AUS$14.4 billion) takeover offer from U.S. Harbour Energy, saying that it undervalues the Australian…

Carbon Tracker: Oil Majors Inconsistent In Climate Risk Reporting

Carbon Tracker: Oil Majors Inconsistent In Climate Risk Reporting

May 22, 2018 at 13:01 | Tsvetana Paraskova

The world’s largest oil and gas companies often report a range of internal and proprietary climate scenarios, making it difficult to compare across the sector, non-profit think tank Carbon Tracker…

BP Funds Fast-Charging Battery Maker

BP Funds Fast-Charging Battery Maker

May 22, 2018 at 12:34 | Irina Slav

BP Ventures has provided US$20 million in funding to an Israeli startup that makes ultrafast-charging batteries, which aims to make it possible for electric cars to charge in just five…

BP Suspends Work On Gas Field Shared With Iran

BP Suspends Work On Gas Field Shared With Iran

May 22, 2018 at 10:33 | Irina Slav

BP has stopped work on the Rhum gas field in the North Sea, which it has a 50-percent stake in, sharing it with the National Iranian Oil Company. The…

Kenya Removes Roadblock For Oil Industry Development

Kenya Removes Roadblock For Oil Industry Development

May 22, 2018 at 09:43 | Irina Slav

The Kenyan government and local lawmakers from the oil-rich Turkana region reached an agreement on the distribution of oil revenues that was preventing the country from beginning the development of…

China CEFC Unit Defaults After Failed Rosneft Stake Acquisition

China CEFC Unit Defaults After Failed Rosneft Stake Acquisition

May 21, 2018 at 17:17 | Tsvetana Paraskova

CEFC Shanghai International Group—a subsidiary of China CEFC Energy whose deal to buy 14 percent in Rosneft for US$9 billion collapsed earlier this month—said on Monday that it had

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