Oil and Gas

Africa

US oil output climbs toward level not seen since pandemic’s start | Coronavirus pandemic News

Higher prices are buoying drillers’ confidence: Benchmark Nymex oil gained nearly 35 percent in the past four months after OPEC…

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Middle East

Lebanon set to expand claim on disputed maritime area with Israel | Business and Economy News

Lebanon’s caretaker public works and transport minister says he signed a document expanding Lebanon’s claims in its maritime border dispute…

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Africa

US federal court to decide fate of Dakota Access Pipeline permit | Indigenous Rights News

The $3.8bn pipeline crosses beneath the Missouri River, just north of the Standing Rock Sioux Reservation that straddles the North…

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Latin America

Aramco’s new disclosures still understate its carbon footprint | Business and Economy News

Saudi Aramco still has a long way to go in ensuring that its emissions disclosures match those of other oil majors.…

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Asia

Double the deliveries: Tesla’s first-quarter sales surge | Automotive Industry News

Strong sales are a sign that demand for Tesla’s relatively pricey electric vehicles remains high despite the coronavirus pandemic. Tesla…

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Asia

OPEC+ agrees to up production with an eye towards summer rebound | Coronavirus pandemic News

Defying market expectations for the second time in less than a month, the group agreed to add more than two…

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Latin America

Fast & furious: Will Biden’s $174BN accelerate a global EV boom? | Automotive Industry News

The U.S. auto industry sees President Joe Biden’s infrastructure package as accelerating a global shift toward electric vehicles, thanks to…

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Africa

Saudi launches $1.3 trillion private sector investment push | Business and Economy News

Saudi Arabia is trying to wean its economy off its reliance on oil exports, which account for more than half…

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Middle East

Saudi Arabia ready to extend oil cuts by OPEC+: Report | Business and Economy News

A fresh wave of COVID lockdowns may cause OPEC+ to extend cuts into May when it meets Thursday, Reuters reports.…

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Asia

US stocks hover near record highs as bank losses temper gains | Aviation News

United States stocks stabilised in afternoon trading Monday and hovered near the record highs they set last week, but losses…

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Africa

Fire at Indonesia’s Balongan oil refinery prompts evacuations | Oil and Gas News

The fire, which seriously injured five people and prompted the evacuation of hundreds of nearby residents, has been localised and…

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Europe

Asian shares head higher, oil falls as Suez Canal ship re-floated | Energy News

Salvage teams have freed a container ship stuck in the crucial waterway since last week, blocking hundreds of vessels. Asian…

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Europe

War-torn Syria rations fuel amid ongoing closure of Suez Canal | Business and Economy News

Blockage of the Suez Canal by a stranded ship impacts oil imports to beleaguered Syria, which was already suffering from…

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Africa

Fears of prolonged Suez Canal blockage drive oil prices higher | Financial Markets News

Salvage firm says giant ship blocking Suez Canal, among busiest channels for oil and fuels, could take weeks to free.…

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Latin America

Africa-bound: Ships set for costly detour amid Suez blockage | International Trade News

Ships are beginning costly and time-consuming detours around Africa with the Suez Canal still blocked by a massive container vessel,…

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Europe

States sue to undo Biden pause on US oil and gas lease sales | Climate Change News

The 13 Republican-leaning states seek a court order ending the moratorium that United States President Joe Biden imposed in January.…

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Europe

Suez canal blockage sends oil prices rebounding after sell-off | Energy News

The grounding of a container ship in the crucial waterway has blocked traffic, raising fears of crude oil supply disruptions.…

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Europe

US climate adviser meets energy industry to align climate goals | Business and Economy News

Oil and gas industry representatives and White House officials discussed emissions and plans to decarbonise the economy. Representatives from the…

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Europe

US senators urge Biden to set end date for gas-powered car sales | Automotive Industry News

Democratic Senators Alex Padilla and Dianne Feinstein, in an unreported letter seen by Reuters news agency, called on the US president ‘to…

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Africa

Biden administration mulls new sanctions to block Nord Stream 2 | Business and Economy News

The administration of United States President Joe Biden is considering additional sanctions to block the construction of the almost completed…

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Asia

EU halts plans to blacklist Turkey oil execs | Angela Merkel News

The European Union has frozen plans to blacklist more senior executives at Turkey’s state-owned Turkish Petroleum Corporation (TPAO), four diplomats said, in…

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Asia

Is the world on the verge of a new commodities supercycle? | Business and Economy News

Rising commodity prices have bank analysts and strategists asking if resurgent demand for raw materials and insufficient supply will create…

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Africa

Lira surges after Turkey’s central bank hikes interest rates | Banks News

Turkey’s Monetary Policy Committee raised the one-week repo rate to 19 percent from 17 percent on Thursday. Turkey’s central bank…

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Middle East

Venezuelan officials knew of deal Citgo 6 were jailed for: Report | Business and Economy News

Six executives of United States oil refiner Citgo have been jailed in Caracas on graft charges since 2017, but court…

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Asia

Alberta politicians slam ‘vicious’ Netflix cartoon for kids | Energy News

The provincial government in Canada’s oil-rich province of Alberta is up in arms over a Netflix cartoon for children that…

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Europe

Eyeing US crude, India plans to buy less oil from Middle East | Business and Economy News

Indian state-run refiners including Indian Oil Corp, the country’s biggest crude processor, are planning to cut purchases from Saudi Arabia…

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Latin America

Kenya boycotts ICJ hearing on Somalia sea boundary row | Border Disputes News

Kenya has refused to participate in hearings at the World Court about a maritime boundary dispute with Somalia over contested…

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Middle East

Venezuela’s new stations offer fuel, liquor to those who can pay | Business and Economy News

Venezuelan President Nicolas Maduro has been quietly handing over dozens of run-down gasoline stations to local entrepreneurs who turn them into flashy…

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Latin America

Oil prices are surging: Here’s why not everyone is cheering | Business and Economy News

You’d think a world tiptoeing its way out of the coronavirus pandemic might only be good news for governments and economies. Yet…

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Africa

Oil prices continue to fall ahead of US inventories data | Energy News

Crude prices remain above the level needed to encourage US producers to increase production, some analysts say. Oil fell for…

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Asia

Key oil price surges above $70 after attack on Saudi facilities | Business and Economy News

Brent crude futures rose above $70 first time since COVID pandemic began while US crude was its highest in two…

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Africa

Haaland hearings signal uphill battle for Biden’s climate agenda | Business and Economy News

United States President Joe Biden is facing stiff resistance in the US Senate to his nominations for multiple cabinet and…

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Africa

Asian shares extend losses on fears of rising inflation | Energy News

Asian stocks skidded to one-month lows on Friday as rising United States Treasury bond yields again rattled equity investors while…

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Asia

Oil gains 5% as Saudi Arabia mulls extending its output cuts | Energy News

Riyadh is considering extending its voluntary oil cuts of one million barrels per day into April, Reuters news reports. Oil…

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Asia

Iran taps old clients in Asia in hopes of US sanctions lifting | Donald Trump News

The National Iranian Oil Co reached out to five refiners in Asia for possible business deals if the US lifts…

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Africa

OPEC+’s balancing act between crude optimism and pandemic risk | Business and Economy News

OPEC and its allies have a tough decision to make when they meet on Thursday: Remain cautious and keep supplies…

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Latin America

US oil lobbying group mulls throwing weight behind carbon pricing | Business and Economy News

The American Petroleum Institute is considering endorsement of putting a price on carbon emissions – a move that would herald…

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Europe

US freeze hits Europe’s fuel oil exports | International Trade News

While European plants benefitted from the US shutdown of refineries, now they have no clients to export fuel oil to.…

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Middle East

Lebanon begins cleaning beaches after oil spill | Environment News

Volunteers in southern Lebanon begin removing tar from beaches after an oil spill that could endanger marine life. Lebanese began…

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Asia

Decades after the Gulf War, Iraq’s youth view oil as a curse | Oil and Gas News

Baghdad, Iraq — Like most of the young people who joined Iraq’s countrywide demonstrations in 2019, musician Sally Mars took…

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Europe

Oil prices mixed as Texas refineries reopen after deep freeze | Business and Economy News

As refineries in Texas reopen after last week’s freeze, concerns over OPEC+’s willingness to continue output cuts grow, with global…

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Europe

US, Canada pledge to achieve net-zero emissions by 2050 | Climate Change News

United States President Joe Biden says that he and Canadian Prime Minister Justin Trudeau have agreed to work towards achieving…

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Africa

Long-serving Saudi oil minister Ahmed Zaki Yamani dies at 90 | Business and Economy News

Ahmed Zaki Yamani – a long-serving oil minister in Saudi Arabia who led the kingdom through the 1973 oil crisis…

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Africa

Petrobras shares drop as Brazil’s Bolsonaro slams pricing policy | Business and Economy News

Petrobras shares plunged 21 percent on Monday, wiping out 70 billion reais ($12.6bn) in market value, as Brazilian President Jair…

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