Energy & Oil

• Monday, April 17th 2023 - 22:56 UTC

  With “energy cooperation”, Russia/China trade booming using Yuan/Rouble currencies

  

  Energy cooperation helped China's overall trade with Russia maintain its strong growth momentum in the first quarter with an increase of 38.7% from a year earlier, far outpacing the growth of China's total trade.

• Sunday, April 16th 2023 - 12:49 UTC

  Nuclear energy era comes to an end in Germany

  

  The era of nuclear reactors came to an end in Germany Saturday after the three last such plants were shut down as the country enters a new energy chapter, facing the challenge of doing without fossil fuels while at the same time managing the gas crisis triggered by the war in Ukraine.

• Wednesday, April 12th 2023 - 11:00 UTC

  IEA insists increasing fossil fuel production contradicts goals to stop global warming

  

  Fatih Birol, head of the powerful International Energy Agency, (IEA),, the Paris-based organization led by the energy ministers of mostly rich countries, has warned that companies that increase fossil fuel production are contradicting goals to stop the planet warming.

• Monday, April 10th 2023 - 12:42 UTC

  UK offshore Oil Workers anticipate biggest strike in a generation

  

  Hundreds of oil and gas platforms will stage a 48-hour strike in a dispute over pay and other working conditions. Unite has warned that the standstill by the walkout has been planned for April 24. Industry experts agree that contractors and operators can afford to give the Unite members a decent pay rise.

• Monday, April 3rd 2023 - 09:42 UTC

  OPEC+ countries announce cut in output to keep price stable

  

  Oil-producing countries grouped under OPEC+ Sunday announced a voluntary cut in crude output of around 1.15 million barrels per day (bpd) in addition to a 2-million reduction agreed upon in October to boost prices, it was reported. The measure will come into effect in May and last until the end of this year.

• Monday, April 3rd 2023 - 09:06 UTC

  EU should reconsider electric cars-only plans: not enough lithium

  

  Europe's plans to ban all fossil fuel-powered vehicles by 2035 might be thwarted by the world's lithium supply not being large enough, according to a Financial Times report published Sunday. If the European Union is to switch to electric cars, demand for lithium will skyrocket and there would not be as much supply, the article noted.

• Wednesday, March 29th 2023 - 10:44 UTC

  Brazil leading exports depend on China: 70% of soybeans and 63% of iron ore

  

  Brazil’s main trading partner, China, is the destination for over a quarter of total Brazilian exports, involving more than US$90 billion in 2022 in transactions of commodities such as soy, crude oil, and iron ore – products that dominate the bilateral agenda between the two nations.

• Monday, March 27th 2023 - 10:11 UTC

  Falklands Sea Lion development offshore could be reached next year, estimates Rockhopper Exploration

  

  A final investment decision for the long-stalled Sea Lion development offshore the Falkland Islands could be reached in 2024, Rockhopper, a partner in the project announced in its site, after Navitas Petroleum, the project operator, presented it with an updated development plan.

• Sunday, March 26th 2023 - 14:32 UTC

  Borrell warns lithium can make Latin America the “new Persian Gulf”

  

  The European Union's High Representative for Foreign Policy Josep Borrell said during an interview in Santo Domingo where he is attending the XXVIII Ibero-American Summit that Latin America is underestimated when it has the potential of becoming the “new Persian Gulf.”

• Wednesday, March 22nd 2023 - 10:16 UTC

  Maduro appoints new Petroleum Minister

  

  Venezuelan President Nicolás Maduro Tuesday appointed Col. Pedro Tellechea as the new Minister of Energy and Petroleum.