Articles by Tsvetana Paraskova

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Canada Aims To Solve U.S. Nuclear Woes

Canada believes it may have the answer to replacing some U.S. nuclear capacity with other forms of carbon-free energy.   When New York state and Massachusetts retire three nuclear reactors between 2019 and 2021, the two states will lose a combined 2.7 gigawatts of carbon-free power. Both states want to replace that capacity with other forms of clean energy, in line with their ambitious goals to reduce greenhouse gas emissions and increase the share of renewables in their energy mix. Some thousand miles north, Hydro-Quebec, owned by the Quebec…


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Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal

Russia’s oil producer Gazprom Neft is ‘holding its nose’ to the OPEC/non-OPEC production cut deal because it has made the company cut its production growth targets, Gazprom Neft’s first deputy CEO Vadim Yakovlev told Reuters in an interview published on Monday. “The companies involved in this deal are paying a different price. The effect is equal for everyone, but the contribution of the companies to the deal is different,” Yakovlev said. “This is related to the market players’ ability to increase…


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Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal

Russia’s oil producer Gazprom Neft is ‘holding its nose’ to the OPEC/non-OPEC production cut deal because it has made the company cut its production growth targets, Gazprom Neft’s first deputy CEO Vadim Yakovlev told Reuters in an interview published on Monday. “The companies involved in this deal are paying a different price. The effect is equal for everyone, but the contribution of the companies to the deal is different,” Yakovlev said. “This is related to the market players’ ability to increase…


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Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes

Venezuela’s President Nicolas Maduro claimed victory in a regional election on Sunday in a surprise win defying opinion polls, but the opposition refused to recognize the outcome, decrying fraud, in what could lead to another wave of sanctions against the regime and renewed unrest in the country sitting on the world’s biggest oil reserves. The pro-government electoral board said that Maduro’s allies and candidates had won 17 governorships, compared to the six governorships won by the opposition. The voter turnout was more than…


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Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes

Venezuela’s President Nicolas Maduro claimed victory in a regional election on Sunday in a surprise win defying opinion polls, but the opposition refused to recognize the outcome, decrying fraud, in what could lead to another wave of sanctions against the regime and renewed unrest in the country sitting on the world’s biggest oil reserves. The pro-government electoral board said that Maduro’s allies and candidates had won 17 governorships, compared to the six governorships won by the opposition. The voter turnout was more than…


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Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes

Venezuela’s President Nicolas Maduro claimed victory in a regional election on Sunday in a surprise win defying opinion polls, but the opposition refused to recognize the outcome, decrying fraud, in what could lead to another wave of sanctions against the regime and renewed unrest in the country sitting on the world’s biggest oil reserves. The pro-government electoral board said that Maduro’s allies and candidates had won 17 governorships, compared to the six governorships won by the opposition. The voter turnout was more than…


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EU Urges U.S. Congress To Protect Iran Nuclear Deal

European Union foreign ministers have closed ranks in support of the Iran nuclear agreement, warning that U.S. President Donald Trump’s threats to abandon the multinational accord jeopardize efforts to find a peaceful solution to the nuclear standoff with North Korea. “At a time of acute nuclear threat the EU is determined to preserve the JCPOA as a key pillar of the international nonproliferation architecture,” the ministers said in a joint statement issued during a meeting in Luxembourg, referring to the 2015 Joint Comprehensive Plan…


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Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing

An oil rig exploded on Sunday evening in Lake Pontchartrain just north of New Orleans, leaving 7 people injured, one missing, and crude oil possibly leaking into the lake, authorities say. The Coast Guard said Sunday evening that it was coordinating search efforts for a missing man after an explosion on an oil platform in Lake Pontchartrain. One of the platform workers has said that eight people were aboard at the time of the explosion, and one person did not make it to shore. Of the seven people who made it to shore, six were taken to the hospital,…


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China Takes Aim At The Petrodollar

China continues to pursue its ambitious plan to make its currency—the yuan—more international. The world’s top crude oil importer and key oil demand growth driver is now determined to get as many oil exporters as possible on board with accepting yuan payments for their oil.   China is now trying to persuade OPEC’s kingpin and biggest exporter, Saudi Arabia, to start accepting yuan for its crude oil. If the Chinese succeed, other oil exporters could follow suit and abandon the U.S. dollar as the world’s reserve…


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Trump Passes Iran Nuclear Deal Back to Congress

U.S. President Donald Trump is officially withdrawing his certification of Iranian compliance with the nuclear deal, in what is being billed as part of a tougher strategy on Iran. For Europe, the past few weeks have been ones of scrambling to determine whether billions of dollars in deals made by major European companies with Iran will be stymied by a new round of sanctions. Those deals include the almost $5-billlion energy deal between French Total SA and Iran. But maybe all is not lost. Essentially, Trump has “kicked the can” to Congress,…