OPEC leaders privately admit that the US oil industry’s high-tech flexibility is a competitive advantage that will enable the country to respond quickly to the
Category: Energy
UK Readies for the First China-Designed Nuclear Plant in the West
The United Kingdom has announced that it would guarantee a £2bn deal that will lead to a final investment decision on the Hinkley Point nuclear
Russia Seeks a Change in Taxation to Raise More Oil Revenue
Russia’s finance ministry has suggested that the calculation method for the mineral extraction tax for oil companies should be changed. The change should include also
Energy Firms Seizing the Opportunities Given by Crude Oversupply
Glencore Plc, a global integrated commodities producer and trader, has recently joined Vitol Group, the world’s largest independent oil trader, and hired tanks at the
New IEA Chief Seeks Deeper Institutional Ties with India and China
International Energy Agency (IEA) Executive Director, Fatih Birol, visited New Delhi on Monday (14 September) where he met with senior Indian ministers. He urged the
U.S.-Mexico Crude Swaps Believed to Boost Economy and Environmental Protection
U.S.-Mexico crude oil exchanges that were approved in August by the U.S. Department of Commerce’s Bureau of Industry and Security will probably involve swaps of
U.S. Crude Production Set to Fall Next Year
U.S. oil output is expected to fall by almost 1 million barrels next year down from this year’s heights. American crude production hit its peak
Gazprom Signs Major Deals with Europe despite the Ukrainian Crisis
Russia’s energy giant Gazprom boosted its presence in Europe on Friday (4 September) by signing two major deals despite the ongoing tensions between Russia and
Iraq and Brazil to Revise Oil Production Targets Downward
Analysts expect that Brazil and Iraq will have to make major downward revisions to their oil production targets, which could in the end lead to
Grexit and Iran’s Nuclear Deal Contributing to Oil Price Fall
The price of crude oil went down again weighed by weaker U.S. refined fuels markets and eventual negative impact of the Greek debt crisis on