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News

Court Allows Tesla Shareholders To Proceed With SolarCity Lawsuit

Court Allows Tesla Shareholders To Proceed With SolarCity Lawsuit

Mar 29, 2018 at 11:27 | Tsvetana Paraskova

A Delaware court on Wednesday allowed Tesla shareholders to move forward with a lawsuit claiming that Elon Musk and Tesla’s board used their influence and reputation to dupe shareholders…

Rio Tinto Dumps $4B In Coal Assets

Rio Tinto Dumps $4B In Coal Assets

Mar 29, 2018 at 08:42 | Safehaven.com

Just as a new government in Australia looks set to breathe fresh life into the coal industry, mining giant Rio Tinto has finalized its exit agreement from the controversial natural…

Venezuela Tries To Pay Russian Debt With Cryptocurrency

Venezuela Tries To Pay Russian Debt With Cryptocurrency

Mar 28, 2018 at 17:35 | Tsvetana Paraskova

If crisis-hit Venezuela was hoping to pay off its US$3.15-billion debt to Russia with its new cryptocurrency, those hopes have been shattered as the Russian Finance Ministry announces that it…

Lukoil Value Pushes Past Russian State-Owned Giants

Lukoil Value Pushes Past Russian State-Owned Giants

Mar 28, 2018 at 17:17 | Tsvetana Paraskova

Lukoil, Russia’s second-largest oil producer by output, now enjoys the highest market capitalization of any Russian energy company, after overtaking state-controlled giants Gazprom and Rosneft on Wednesday. At the…

U.S. Oil & Gas Exports Hit All-Time High

U.S. Oil & Gas Exports Hit All-Time High

Mar 28, 2018 at 14:20 | Tsvetana Paraskova

U.S. energy exports rose to record levels last year, with both petroleum and natural gas posting record-highs as the shale boom and the second full year of no restrictions on…

Washington Sells 7 Million Barrels Of SPR Crude

Washington Sells 7 Million Barrels Of SPR Crude

Mar 28, 2018 at 12:31 | Irina Slav

The department of Energy has sold seven million barrels of crude oil from the Strategic Petroleum Reserve to at least five buyers at prices of WTI plus US$1.50 to…

OPEC Backs Very Long-Term Saudi-Russia Oil Deal

OPEC Backs Very Long-Term Saudi-Russia Oil Deal

Mar 28, 2018 at 11:39 | Tsvetana Paraskova

OPEC is looking to forge a “very long-term” cooperation with non-OPEC producers, the cartel’s Secretary General Mohammad Barkindo said on Wednesday, lending further credence to the news that Saudi…

Iran-Iraq Oil Swap Deal Starts In 2 Weeks

Iran-Iraq Oil Swap Deal Starts In 2 Weeks

Mar 28, 2018 at 11:19 | Irina Slav

Shipments of Kirkuk crude oil to Iran under an oil swap deal will begin in two weeks, Alaa al-Yasiri, head of Iraq’s oil marketing company SOMO has said, adding…

Tesla Nose Dives On Downgrade, Fatal Crash

Tesla Nose Dives On Downgrade, Fatal Crash

Mar 28, 2018 at 09:01 | Irina Slav

Moody’s is downgrading Tesla’s corporate family rating to B3 from B2 and cutting its outlook on the company to Negative from Neutral in a blow made more severe by…

Oil Falls After API Reports Major Surprise Crude Inventory Build

Oil Falls After API Reports Major Surprise Crude Inventory Build

Mar 27, 2018 at 16:11 | Julianne Geiger

The American Petroleum Institute (API) has reported a major surprise build of 5.321 million barrels of U.S. crude oil inventories for the week ending March 23, with the market expected…

Germany Approves Russia-Led Nord Stream 2 Gas Pipeline

Germany Approves Russia-Led Nord Stream 2 Gas Pipeline

Mar 27, 2018 at 14:27 | Tsvetana Paraskova

Germany approved on Tuesday the construction and operation of the Russia-led Nord Stream 2 gas pipeline in its territorial waters, thus issuing all necessary permits for the German section…

GM Korea Faces Ultimatum: Bankruptcy Or Investment

GM Korea Faces Ultimatum: Bankruptcy Or Investment

Mar 27, 2018 at 12:33 | Irina Slav

GM Korea is preparing to file for bankruptcy if the management fails to reach an agreement with the company’s local labor union over a restructuring program that has to…

Thousands of Jobs At Risk As Nigerian Oil Industry Crumbles

Thousands of Jobs At Risk As Nigerian Oil Industry Crumbles

Mar 27, 2018 at 09:58 | Irina Slav

Thousands of oil workers in Nigeria may lose their jobs after a wave of picketing against several service companies from the industry from members of the Petroleum and Natural…

Canada Slams Husky Energy With 10 Spill-Related Charges

Canada Slams Husky Energy With 10 Spill-Related Charges

Mar 27, 2018 at 08:52 | Irina Slav

The Canadian Department of Environment is charging Husky Energy with nine counts of environmental damage related to an oil spill that occurred in 2016, and the province of Saskatchewan…

Tesla Slows Down Deliveries In Key Market Norway

Tesla Slows Down Deliveries In Key Market Norway

Mar 26, 2018 at 17:57 | Tsvetana Paraskova

Tesla is slowing down deliveries in one of its most important markets, Norway, because of logistics constraints, chief executive Elon Musk said over the weekend. “I have just asked our…

Has Ford Run Out Of Gas In China?

Has Ford Run Out Of Gas In China?

Mar 26, 2018 at 17:55 | Safehaven.com

As its rivals enjoy strong gains in a burgeoning Chinese auto market, Ford Motor Co. is failing because it was late to this game.  Ford’s sales in China, the world’s…

Barclays: Iran Could Find Other Buyers For Its Oil If Sanctions Tighten

Barclays: Iran Could Find Other Buyers For Its Oil If Sanctions Tighten

Mar 26, 2018 at 17:44 | Tsvetana Paraskova

Iran could do a lot of different things to kind of skirt possible tighter sanctions on its oil sector, such as sending oil to different places, Michael Cohen, head of…

Mexico’s Oil Reserves Drop Again Despite Recent Discoveries

Mexico’s Oil Reserves Drop Again Despite Recent Discoveries

Mar 26, 2018 at 16:11 | Tsvetana Paraskova

Mexico’s proven oil and gas reserves dropped again last year, after new certified discoveries—mostly by private foreign operators—were unable to keep pace with current production. According to data by…

Algeria To Lure Oil Companies With Tax Incentives

Algeria To Lure Oil Companies With Tax Incentives

Mar 26, 2018 at 14:12 | Irina Slav

Algeria is mulling over luring in international oil companies with tax incentives in a new energy law aimed at stimulating the North African country’s oil and gas industry. The government…

Russia, Qatar Forge Closer Ties In Oil, Gas, Research

Russia, Qatar Forge Closer Ties In Oil, Gas, Research

Mar 26, 2018 at 13:25 | Irina Slav

The Qatari Foundation for Education, Science, and Community Development has struck a partnership deal with Russia’s Rosneft to set up a research center focused on the energy industry. The announcement…

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