China is taking its first steps towards paying for imported crude oil in Yuan instead of the U.S. dollar, according to Reuters, a key development in Beijing's efforts to establish its currency internationally.
Wall Street is shocked, but it shouldn't be: Tariffs targeting China should have been a given, and now the market's tanking on trade war fears as if it just crept up on everyone, but Trump's been very clear on this.
Hurricanes, monsoon floods and continuing severe drought made 2017 the costliest year ever for severe weather and climate events, according to a new report by the United Nations weather agency launched on the eve of World Meteorological Day.
Norwegian energy group Norsk Hydro, accused of causing environmental damage in northern Brazil, on Monday apologized for the unauthorized discharge of untreated water into a local river from its aluminum factory Alunorte, the largest in the world.
Argentina plans to increase natural gas exports to Chile, helping to encourage production growth in the giant Vaca Muerta shale play, while importing supplies from that country to meet peak demand, Energy Minister Juan Jose Aranguren said on Thursday.
Argentina plans to launch its first offshore licensing round in almost three decades this year, as it seeks to widen exploration for longer-term production growth, Energy Minister Juan Jose Aranguren said on Thursday.Round One will be launched in June or July for 240,000 sq km in three zones of the continental shelf, Aranguren said on the sidelines of The Economist's Argentina Summit in Buenos Aires.
Argentina's Commerce Secretary Miguel Braun travelled to Washington to negotiate an exemption to the higher tariffs recently placed on steel and aluminum imports by the Donald Trump administration.
Global hydrocarbons companies and traders are bracing for higher volatility in fuel markets as they expect refiners to process more light crude oil in the lead-up to new rules aimed at slashing the use of dirty high-sulfur fuel oil in global shipping.
United States-based oil giant ExxonMobil says the latest oil discovery in Guyana will help bring production to more than 500,000 barrels per day. In a statement, the oil company said that it was satisfied with the discovery in the Pacora Well that was safely drilled to a depth of 18,363 feet in 6,781 feet of water. It said drilling began on January 29 this year.
Venezuela’s oil production is running 1.5 million barrels per day (bpd) short of its historic output but it is something that the country must address itself, Ecuador oil minister Carlos Perez said. Caracas should address the shortfall on its own, added Perez on the sidelines of the CERAWeek energy conference in Houston.