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Saudi Investment Fund Eyes Tesla Rival

Saudi Investment Fund Eyes Tesla Rival

Saudi Arabia’s wealth fund PIF…

Oil Markets Are In For A Bumpy Ride

Oil Markets Are In For A Bumpy Ride

After a somewhat quiet summer,…

News

US Targets Mexican Oil Company Linked to Drug Cartel

US Targets Mexican Oil Company Linked to Drug Cartel

Aug 30, 2012 at 18:57 | Joao Peixe

US companies and individuals have been prohibited from doing business with Mexican oil company ADT Petroservicios and the company’s US assets have been frozen due to owner Francisco Antonio Colorado…

Hurricane Isaac Prompts Natural Gas Rally

Hurricane Isaac Prompts Natural Gas Rally

Aug 30, 2012 at 18:55 | Charles Kennedy

Wednesday saw natural gas futures up nearly 1% on news that Hurricane Isaac would push more production offline and potentially damage the natural gas infrastructure in the affected region. Nearly…

Saudi Oil Giant Recoups after Virus Attack

Saudi Oil Giant Recoups after Virus Attack

Aug 30, 2012 at 18:54 | Jen Alic

Saudi Aramco, Saudi Arabia’s state-owned oil giant, has recovered, with its 30,000 computers back online after a major computer virus apparently launched by a group called the Cutting Sword of…

Syria Trumps Iran's Nuclear Program at Tense NAM Summit

Syria Trumps Iran's Nuclear Program at Tense NAM Summit

Aug 30, 2012 at 18:53 | Jen Alic

During the summit of the Non-Aligned Movement (NAM) in Tehran, Iranian Supreme Leader Ayatollah Ali Khamenei told the 120 state leaders gathered that Iran had no intention of pursuing nuclear…

Massive Oil Find in Mexico's Deep Waters

Massive Oil Find in Mexico's Deep Waters

Aug 30, 2012 at 18:52 | Joao Peixe

Mexico’s state-owned Pemex oil has announced a major oil discovery in the deep waters of the Gulf of Mexico that Mexican President Felipe Calderon is touting as promising one-third of…

Scotland Offers £10m Prize for Renewable Energy Projects

Scotland Offers £10m Prize for Renewable Energy Projects

Aug 30, 2012 at 09:45 | Charles Kennedy

Four Scottish renewable energy companies are competing for a £10m Saltire Prize for the development of wave and tidal energy devices in Scottish waters. ScottishPower Renewables, Aquamarine Power, Pelamis Wave…

GM Temporarily Halts Volt Production over Low Sales

GM Temporarily Halts Volt Production over Low Sales

Aug 29, 2012 at 16:23 | Charles Kennedy

US automaker General Motors Co. has announced it will halt production of the Chevrolet Volt electric car for four weeks, citing the car’s failure to meet targeted sales projections, according…

Analysts Predict Draw from US Strategic Reserves over Storm Isaac

Analysts Predict Draw from US Strategic Reserves over Storm Isaac

Aug 29, 2012 at 16:22 | Charles Kennedy

As gas prices continued to climb yesterday, industry analysts are predicting the increasing likelihood that the US will draw from its strategic oil and gas reserves in the face of…

Gazprom Signs South Stream Pipeline Agreement with Bulgaria

Gazprom Signs South Stream Pipeline Agreement with Bulgaria

Aug 29, 2012 at 16:21 | Jen Alic

Russian Gazprom on Monday signed an agreement for the construction of the Bulgarian section of its South Stream gas pipeline with Bulgaria’s National Energy Holdings. Gazprom Deputy CEO…

Chilean Court Nixes $5bn Thermoelectric Power Plant

Chilean Court Nixes $5bn Thermoelectric Power Plant

Aug 29, 2012 at 16:19 | Joao Peixe

A huge thermoelectric power plant joint venture between Brazil’s MPX Energia SA and Germany’s E.ON has been sidelined by a Chilean court over environmental concerns. Earlier this week,…

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