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Breaking News:

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Apache Makes Another North Sea Oil Discovery

Apache Makes Another North Sea Oil Discovery

Mar 23, 2018 at 18:01 | Zainab Calcuttawala

U.S.-based Apache made a 10 million-barrel light oil discovery in the North Sea on Friday, according to a new press release. The Garten discovery is just a few miles away…

Trump Signs $1.3 Trillion Spending Bill With No Clean Energy Cuts

Trump Signs $1.3 Trillion Spending Bill With No Clean Energy Cuts

Mar 23, 2018 at 17:50 | Zainab Calcuttawala

President Donald Trump signed a $1.3 trillion spending bill on Friday that will prevent a government shutdown without the funding cuts to the Department of Energy, Environmental Protection Agency…

Duke Energy To Invest $36B In Renewables, Grid Modernization

Duke Energy To Invest $36B In Renewables, Grid Modernization

Mar 23, 2018 at 17:42 | Tsvetana Paraskova

One of the largest U.S. energy holding companies, Duke Energy, plans to invest US$36 billion to expand its renewables and natural gas power generation and to modernize the electric…

Lukoil: OPEC Deal Should Extend Into 2020 If US Oil Continues To Soar

Lukoil: OPEC Deal Should Extend Into 2020 If US Oil Continues To Soar

Mar 23, 2018 at 14:56 | Tsvetana Paraskova

If U.S. oil production continues to boom at the current pace, OPEC and Russia should extend their production cut pact into 2020, Leonid Fedun, the vice president of Russia’s…

Vietnam Halts Oil Project In South China Sea

Vietnam Halts Oil Project In South China Sea

Mar 23, 2018 at 13:34 | Tsvetana Paraskova

Vietnam has suspended a second oil drilling project in the South China Sea in less than a year, after pressure from China which claims a large swath of the sea,…

British Columbia Offers Tax Breaks To LNG Canada Project

British Columbia Offers Tax Breaks To LNG Canada Project

Mar 23, 2018 at 12:36 | Tsvetana Paraskova

The British Columbia government is offering the LNG Canada project tax breaks that boost the chances of the plan to get a final investment decision from its joint venture…

No Big Oil Conspiracy On Climate Change, Judge Says In Shocking Ruling

No Big Oil Conspiracy On Climate Change, Judge Says In Shocking Ruling

Mar 23, 2018 at 08:59 | Irina Slav

There has been no conspiracy by Big Oil to suppress climate change facts, District Judge William Alsup said at a court hearing on the suit brought against several Big…

Tesla Model 3 Faces Manufacturing Crisis

Tesla Model 3 Faces Manufacturing Crisis

Mar 22, 2018 at 18:50 | Zainab Calcuttawala

The manufacturing of Model 3 sedans has slowed significantly in recent weeks, according to a report by Clean Technica. CEO Elon Musk had promised to produce 2,500 Model 3…

Cenovus Energy Reduces Oil Production Due To Shipping Difficulties

Cenovus Energy Reduces Oil Production Due To Shipping Difficulties

Mar 22, 2018 at 18:44 | Zainab Calcuttawala

Canada’s Cenovus Energy announced a planned slowdown in production due to shipping difficulties out of critical production areas, according to a new report by Bloomberg. Cenovus’ Christina Lake and…

Norway Invites Mediator For Oil Industry Union Talks

Norway Invites Mediator For Oil Industry Union Talks

Mar 22, 2018 at 18:38 | Zainab Calcuttawala

Wage talks in Norway failed to reach an amicable conclusion on Thursday, prompting the government to summon a mediator to prevent oil industry-wide strikes in the nation, according to a…

Chinese Probe Hits CEFC’s $9-Billion Rosneft Stake Acquisition

Chinese Probe Hits CEFC’s $9-Billion Rosneft Stake Acquisition

Mar 22, 2018 at 18:22 | Tsvetana Paraskova

China’s investigation into CEFC started after the Chinese conglomerate had already paid a first tranche of its US$9-billion acquisition of 14 percent in Russian oil giant Rosneft, suspending the deal…

Study Says West Texas Ground Sinks Under Permian Oil Drilling

Study Says West Texas Ground Sinks Under Permian Oil Drilling

Mar 22, 2018 at 15:41 | Tsvetana Paraskova

Intensive oil and gas drilling in the Permian is causing a large swath of West Texas to sink and uplift, a new study by the Southern Methodist University, Dallas,…

Aramco Says All Saudi Oil Facilities Safe After Report Of Yemen Missile

Aramco Says All Saudi Oil Facilities Safe After Report Of Yemen Missile

Mar 22, 2018 at 14:23 | Tsvetana Paraskova

All oil and gas facilities, plants, and refineries in Saudi Arabia are operating normally, the state oil giant Saudi Aramco said on Thursday, after the Yemeni Houthi movement said…

Finance Minister: Aramco Foreign Listing Not Off The Table

Finance Minister: Aramco Foreign Listing Not Off The Table

Mar 22, 2018 at 13:16 | Irina Slav

Countering recent media reports that Aramco will shelve its international listing and instead focus just on local exchange Tadawul, Saudi Arabia’s Finance Minister Mohammed al-Jadaan told Bloomberg in…

South Sudan: U.S. Oil Sanctions Undermine Peace Efforts

South Sudan: U.S. Oil Sanctions Undermine Peace Efforts

Mar 22, 2018 at 12:57 | Tsvetana Paraskova

U.S. sanctions on oil entities of South Sudan are counterproductive to efforts to bring stability and peace in the country, South Sudan’s Ministry of Petroleum said on Thursday, a…

Trans Mountain Saga May Be Coming To An End

Trans Mountain Saga May Be Coming To An End

Mar 22, 2018 at 12:41 | Irina Slav

Canada’s Federal Court of Appeals is soon due to rule on a lawsuit against Kinder Morgan’s expansion project for the Trans Mountain oil pipeline, possibly ending a saga comparable to…

Global Carbon Emissions Resume Rise

Global Carbon Emissions Resume Rise

Mar 22, 2018 at 09:16 | Irina Slav

After three flat years global carbon emissions, carbon emissions are now on the rise again, hitting the highest ever at 32.5 gigatons. This was a 1.4-percent annual increase, the International…

Largest Gulf of Mexico Lease Sale In History Attracts Lukewarm Interest

Largest Gulf of Mexico Lease Sale In History Attracts Lukewarm Interest

Mar 21, 2018 at 19:33 | Zainab Calcuttawala

The Interior Department’s U.S. Gulf of Mexico Lease Sale 250 attracted $139 million in bids concentrated in deepwater offshore Louisiana and others areas near the Mexican border, according to a…

Federal Judge To Turn Courtroom In Climate Science Classroom

Federal Judge To Turn Courtroom In Climate Science Classroom

Mar 21, 2018 at 18:27 | Zainab Calcuttawala

U.S. District Judge William Alsup is inviting oil and gas companies and climate scientists to present the best available knowledge on climate change in his courtroom, according to a new…

Iran Moves Closer To Achieving Gasoline Independence

Iran Moves Closer To Achieving Gasoline Independence

Mar 21, 2018 at 15:12 | Tsvetana Paraskova

Iran has drastically cut its gasoline imports in recent weeks as it started the second phase of an oil refinery, moving closer to reaching gasoline independence, Reuters reported on…

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