oil

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Coronavirus: Oil prices surge on hopes of a price war truce

Image copyright EPA Global oil prices have surged after Donald Trump said he expected Saudi Arabia and Russia to end a feud that has driven oil prices to 18-year lows. The US president tweeted “I expect & hope” the two countries would agree to cut supply by 10 million barrels “and maybe substantially more”. His […]

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Texas Oil Regulator Loses to GOP Primary Challenger in Big Upset

(Bloomberg) — A member of the top energy regulator in Texas lost his place on November’s ballot to a Republican challenger, a major upset for an incumbent supported by some of the oil industry’s biggest names. Ryan Sitton, whose six-year term ends in January, conceded to Jim Wright as the party’s nominee for a spot […]

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Indigenous leaders divided over proposed oil sands mine in northern Alberta

FORT CHIPEWYAN, ALTA. — As the deadlock between a group of Indigenous chiefs and a northern B.C. pipeline brings rail traffic to a standstill, the future of another energy project in northern Alberta is hanging in the balance. The proposed Teck Frontier oil sands mine project, estimated at $20 billion, would be about twice the […]

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UN Libya mission ‘concerned’ over threats to block oil exports | News

The United Nations mission in Libya has express deep concern over efforts to disrupt oil production in the war-torn country and urged all sides to exercise restraint. “This move would have devastating consequences first and foremost for the Libyan people who depend on the free flow of oil for their well-being,” the mission said in […]

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The KRG’s anti-corruption effort must start from its oil sector | Iraq

Iraq is one of the most corrupt countries in the world and oil has a lot to do with it. With nearly $100bn in annual revenues coming from oil, which constitutes 90 percent of its budget, the country is a great example of what political economists call “the resource curse”. Over the past two decades, […]

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The world’s demand for palm oil is igniting a climate bomb

By Rebecca Wright, Ivan Watson, Tom Booth and Masrur Jamaluddin, CNN Kalimantan, Indonesia (CNN) — Deep within the jungles of Indonesian Borneo, illegal fires rage, creating apocalyptic red skies and smoke that has spread as far as Malaysia and Singapore. People are choking. Animals are dying. This is no ordinary fire. It was lit for […]

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