Sunday, 9 February 2025

Focus on Oil

Although a major oil producer, Nigeria often struggles with fuel shortages that cause long lines at petrol stations (AFP)
BusinessEconomyFuelNewsOilPolitics

State oil company ‘financial strain’ compounds fuel shortage in Nigeria

Higher living costs, inflation and an end to fuel subsidies contribute to chaotic scenes in Nigeria as fuel supplies grow scarce.

The Kingfisher oil project is operated by China's CNOOC (AFP)
BusinessFuelNewsOilPolitics

NGO reports ‘human rights disaster’ at Uganda oil project

Climate Rights International reports that TotalEnergies' Kingfisher project in Uganda has violently intimidated and evicted locals.

A proposed increase in the Energy Profits Levy would cost the sector about £13 billion, an trade body has warned (Andrew Milligan/PA)
EconomyNatural GasNewsOilTrade

Oil and gas windfall tax rise would cost the economy £13bn, UK trade body warns

Increased windfall taxes on the UK’s offshore oil and gas industries would cost the economy about £13 billion.

Azerbaijan is among the 20 biggest net oil exporters and the 12th largest for gas, according to 2022 figures (AFP)
AnalysisCoalElectionsNatural GasOil

Azerbaijan: a country steeped in hydrocarbons

Azerbaijan, which holds early legislative elections on Sunday, is a country in the Caucasus region with a historical relationship with hydrocarbons, which account...

FILE - A long exposure image shows the recorded temperature on a thermostat at the Furnace Creek Visitors Center, after 10:00 p.m. July 7, 2024, in Death Valley National Park, Calif. (AP Photo/Ty ONeil, File)
ClimateElectionsElectric Vehicles (EVs)ElectricityEmissionsFuelIndustryNatural GasNewsOilPolitics

Harris and Trump offer starkly different visions on climate and energy

"The freedom to breathe" versus "drill, baby, drill" — presidential contenders Harris and Trump's division over climate change is wider than ever.

FILE PHOTO: A man rides past the office building of Sinochem in Beijing, China February 21, 2017. REUTERS/Damir Sagolj/File Photo
BusinessNewsOil

China’s Sinochem plans to exit US shale JV with Exxon, sources say

Sinochem is exploring the sale of its 40% stake in a U.S. shale joint venture with Exxon Mobil, valued at over $2 billion.

FILE PHOTO: Michael Nelson, a coal miner,shakes hands with then-U.S. President Donald Trump as Trump prepares to sign Resolution 38, which nullfies the "stream protection rule", at the White House in Washington, U.S., February 16, 2017. REUTERS/Carlos Barria/File Photo
ClimateCoalElectionsElectric Vehicles (EVs)EmissionsNatural GasOilPolitics

Trump campaign targets Biden’s green policies, promises revival of fossil fuels and deregulation

Trump's energy plan aims to boost U.S. fossil fuel output by rolling back Biden's climate rules and EV subsidies.

FILE PHOTO: A view of the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. REUTERS/Leonhard Foeger/File Photo
EconomyFuelNewsOilPolitics

OPEC+ likely to proceed with planned output hike from October, sources say

OPEC+ is set to proceed with a planned oil output hike from October, six sources from the producer group told Reuters

BiodiversityCourtsEnvironmentNewsOilRegulations

Ecuador starts dismantling Yasuni National Park oil block two days before court deadline

Ecuador has begun dismantling oil infrastructure in Yasuni National Park ahead of a court deadline, but progress is slow, sparking criticism from Indigenous...

BusinessHydrogenNewsOilSolarStorage

India’s Reliance says new energy to be as profitable as oil to chemicals in 5-7 years

The company's new energy business consists of solar photovoltaic and fuel cell manufacturing, energy storage and green hydrogen production, among others.

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