Energy & Oil

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.
Tuesday, March 21st 2023 - 10:10 UTC
Venezuelan oil minister resigns amid corruption scandal

Venezuelan Oil Minister Tareck El Aissami Monday resigned his post on Monday after the opening of a corruption investigation involving the state-owned oil company Petróleos de Venezuela (PDVSA) in which two officials have already been arrested. El Aissami, a powerful ally of President Nicolás Maduro, has been singled out by the United States as an alleged drug lord.
Tuesday, March 21st 2023 - 09:47 UTC
Argentine electricity company under intervention for 180 days

Following seemingly endless power cuts in the Buenos Aires area, Federal Economy Minister Sergio Massa ordered the intervention of suppliers Edesur and appointed Jorge Ferraresi as the company's new controller for a period of 180 days.