Business / Energy

Fossil-fuel giant Russia tiptoes towards low-carbon future 27 Mar 2020 - 06:30 pm

ST. PETERSBURG, Russia: Fossil fuel-rich Russia has for the first time set out a greener economic path for the coming three decades, in...

OPEC calls for big production cut, but will Russia agree? 05 Mar 2020 - 07:56 pm

VIENNA: The OPEC oil cartel is calling for a deep production cut to keep crude prices from falling further as disruption to global...

Avoiding hugs, OPEC officials greet with their feet amid virus outbreak 04 Mar 2020 - 09:51 pm

VIENNA: When OPEC ministers descend on Vienna to decide oil production policy, their meetings are usually accompanied by displays of brotherhood between the...

US blacklists Rosneft unit to choke off funds for Venezuela's Maduro government 18 Feb 2020 - 06:39 pm

WASHINGTON: The United States on Tuesday tightened financial restrictions on Venezuela, blacklisting a subsidiary of Russian oil firm Rosneft that President Donald Trump's...

Each day, fossil fuel air pollution costs $8 billion 13 Feb 2020 - 10:58 pm

NEW YORK: Global air pollution from burning fossil fuels costs $8 billion each day, more than 3% of the value of goods and...

South Sudan ignores reports on oil pollution, birth defects 13 Feb 2020 - 09:40 pm

PALOCH, South Sudan: The oil industry in South Sudan has left a landscape pocked with hundreds of open waste pits, the water and...

Oil nears point that could trigger a Wall Street sell-off 04 Feb 2020 - 11:33 pm

As computer screens flash red for energy markets from Houston to Singapore, oil traders are urgently asking themselves one question: is a historic...

Mexico goes ghost as its oil hedge bill spirals 23 Jan 2020 - 10:45 pm

MEXICO CITY/NEW YORK: Mexico is playing a risky game of hide and seek with the oil market. To frustrate speculators and contain an...

Iraq shuts southern oil field on concern over protesters’ safety 28 Dec 2019 - 04:33 pm

Iraq: OPEC’s second-biggest producer, halted output from a southern oil field as protesters walked close to installations, according to person with knowledge of...

Qatar participates in OAPEC meeting 22 Dec 2019 - 03:14 pm

Doha: Qatar took part in the 103rd Ministerial Council meeting of the Organization of Arab Petroleum Exporting Countries "OAPEC" in Kuwait , with...

Fossil fuel to form 75 percent of global energy in 2035: Kuwait Minister of Oil 22 Dec 2019 - 03:04 pm

Kuwait: Fossil-based fuel will form 75 percent of global energy by 2035, according to expectations of the Organization of the Petroleum Exporting Countries...

Russia, Ukraine reach deal over gas transit to Europe 20 Dec 2019 - 11:31 pm

MOSCOW/KIEV: Moscow and Kiev have signed agreements covering the supply of Russian gas via Ukraine to Europe, a spokesman for Kremlin-controlled Gazprom said...

Nigeria needs to 'be ready' for oil decline, says environment minister 20 Dec 2019 - 09:57 pm

MADRID: Nigeria, Africa's largest oil-producing country, understands it will have little choice but to wean its economy off a reliance on fossil fuels...

Trans Mountain oil pipeline faces latest legal challenge in Canada court 15 Dec 2019 - 06:01 pm

VANCOUVER: The Canadian government-owned Trans Mountain oil pipeline expansion faces its latest legal hurdle in a federal court this week as indigenous groups...

Oil hits 3-month high as trade hopes, UK election lift sentiment 13 Dec 2019 - 05:47 pm

LONDON: Oil rose to its highest in nearly three months on Friday as progress in resolving the U.S.-China trade dispute and a decisive...

Exxon prevails over New York in climate accounting case 10 Dec 2019 - 05:50 pm

Exxon Mobil Corp. won a closely watched securities-fraud trial that delved into its internal accounting for the financial risks of climate change, a...

Energy-short South Sudan powers up - but with fossil fuels 26 Nov 2019 - 10:42 pm

JUBA: South Sudan, a vastly power-short country where most businesses and households rely on diesel generators to keep things running, has opened a...