The energy industry is racing to reduce emissions from fossil fuels and that trumps the evolution of renewable energy. That’s what BP’s chief executive Robert Dudley said at the International Petroleum Week in London. The boss of one of the biggest oil…
Author: Irina Slav
Two months after Venezuelan President Nicolas Maduro surprised analysts and the cryptocurrency world with his idea to launch an oil-backed cryptocurrency, the socialist president said early on Tuesday that Venezuela had just launched its El Petro that …
Delays in budget payments to the National Oil Corporation of Libya could threaten the country’s oil production, NOC’s chairman Mustafa Sanalla said in a statement. “The entire sector is suffering from these problems because of delays in the finance min…
Canadian oil producers can’t get a break. First it was the pipelines — there are not enough of them to carry the crude from Alberta’s oil sands to export markets. This pipeline capacity problem has been forcing producers to pay higher rates for railway…
Saudi Arabia is in talks with 10 countries that could help it advance its ambitious nuclear power plans should the United States refuse to do that, the Kingdom’s Foreign Minister Adel al-Jubeir said at the Munich Security Conference. Cooperation with t…
The European Union is ready to start negotiating Iran’s participation in the Southern Gas Corridor project, the EU’s Vice President for Energy Union Maros Sefcovic told media at the Fourth Ministerial Meeting of the Southern Gas Corridor Advisory Counc…
Oil from the giant Johan Sverdrup field in the North Sea—due to start production in late 2019—is a prime candidate for a future addition to the Brent basket of crude oils to increase the liquidity of the global oil benchmark, Jonty Rushforth, Senior Di…
Mexico has become the 30th member of the International Energy Agency, the latter announced, welcoming its first Latin American member as part of an open-doors policy aimed at strengthening the ties between the IEA and emerging economies. The policy its…
Ever since China overtook South Korea as the world’s second-largest importer of LNG last year, traders have been keeping a very close eye on any development that might suggest whether this year will see a repeat of the 46-percent surge in LNG imports t…
Enbridge plans to divest assets worth US$6.4 billion (C$8 billion) this year, which is more than double the company’s initial divestment plan for the period, sources told the Globe and Mail, asking to remain anonymous because the plans are still privat…