Friday, 7 February 2025

Focus on Oil

Labour leader Keir Starmer detailed plans for a publicly-owned investment vehicle, called Great British Energy, to spearhead funding for green energy projects. (AFP)
ElectionsNatural GasNewsOilPoliticsUtilities

UK Labour pitches new energy policy in election battle

Labour leader Keir Starmer has detailed plans for a publicly-owned "investment vehicle" to spearhead funding for green energy projects.

FILE - A man views flood damage in Bridgewater, Vt., that submerged vehicles and threatened homes Monday, July 10, 2023. Vermont has become the first state to enact a law requiring fossil fuel companies to pay a share of the damage caused by climate change, Thursday, May 30, 2024 after the state suffered catastrophic summer flooding and damage from other extreme weather. (AP Photo/Hasan Jamali, File)
ClimateEmissionsFuelInfrastructureLegislationNewsOilPoliticsWeather

Vermont becomes 1st state to require oil companies pay for damage from climate change

Vermont has enacted a law requiring fossil fuel companies to pay a share of the damage caused by climate change.

Oil rigs anchored in the Cromarty Firth, Invergordon (JAne Barlow/PA)
EconomyElectionsFuelNatural GasNewsOilPolitics

Starmer rejects claims many jobs at risk due to oil and gas stance

UK Labour party leader, campaigning to be elected, rejects claims not renewing North Sea oil and gas licences would cost thousands of jobs.

FILE PHOTO: Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian/File Photo
BusinessFinanceFuelNewsOil

Oil stabilises ahead of US inflation data and OPEC+ meeting

Oil prices held steady on Friday, as investors await U.S. inflation data for clues on the demand outlook.

EconomyNewsOilPoliticsTransmission

Canada increases loan guarantees for Trans Mountain pipeline to $19 billion

The Canadian government has guaranteed another $1 billion in commercial loans for the Trans Mountain pipeline expansion, taking the total government-backed loan facility...

FILE PHOTO: A tailings pond at the Suncor tar sands mining operations near Fort McMurray, Alberta, September 17, 2014. REUTERS/Todd Korol/File Photo
EnvironmentIndigenousLegislationNewsOilPoliticsRegulations

Canada to assess toxicity of compound found in oil sands tailings

Canada has agreed to assess whether naphthenic acids found in northern Alberta's oilsands tailings ponds should be classed as toxic under federal law.

U.S. Senate Majority Leader Chuck Schumer (D-NY) takes questions during a press conference about the failure to pass a border security bill after most Republicans voted against it, on Capitol Hill in Washington, U.S., May 23, 2024. REUTERS/Amanda Andrade-Rhoades
BusinessCourtsEconomyNatural GasNewsOilPolitics

Democratic senators ask DOJ to investigate alleged U.S. oil exec collusion with OPEC

Earlier in May, the Federal Trade Commission gave the go-ahead to Exxon Mobil's $60 billion purchase of Pioneer Natural Resources, but barred former...

An Iron Dome anti-missile battery is placed on an Israeli Saar-6 corvette warship off the shore of the city of Eilat, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, Israel April 17, 2024. REUTERS/Ammar Awad/File Photo
FuelNewsOil

Israel to boost Red Sea oil deliveries despite environmental risks

Israel plans to allow more tankers to dock at a Red Sea port in Eilat despite environmental risks, as it strives to maintain...

FILE - President Joe Biden speaks on April 12, 2024, in Washington. A temporary fix allowing President Biden to appear on this fall's ballot cleared the Ohio House during a rare special session Thursday, May 30, along with a ban on foreign nationals contributing to state ballot campaigns that representatives said was demanded in exchange by the Ohio Senate. (AP Photo/Alex Brandon, File)
FuelIndustryNewsOilPolitics

Justice Department called to prosecute alleged oil price-fixing

The Democrats said a Federal Trade Commission investigation into a high-profile merger uncovered evidence of price-fixing by oil executives.

The Saudi Aramco logo is pictured at Hyvolution exhibition in Paris, France, February 1, 2024. REUTERS/Benoit Tessier
BusinessFinanceFuelNewsOil

Saudi Arabia sets up new Aramco share sale that could raise $13.1B

Saudi Arabia's government on Thursday filed papers to sell a new stake in state oil giant Aramco that could raise as much as...

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