Oil

  • A manufactured crisis: How Saudi Arabia uses oil to bring Yemen to its knees

    A manufactured crisis: How Saudi Arabia uses oil to bring Yemen to its knees

    Jan 10, 2021 21:21

    By manufacturing an oil crisis in Yemen, Saudi Arabia is able to foment political chaos in the country and stir up popular discontent against domestic oil companies.

  • Oil’s vaccine trade faces hurdles ahead

    Oil’s vaccine trade faces hurdles ahead

    Dec 24, 2020 20:39

    The world’s major oil forecasters – the International Energy Agency, the US Energy Information Administration and the Organization of Petroleum Exporting Countries – slowly began to factor the coronavirus into their outlooks, initially seeing its impact limited to China. But by April it was apparent that the disease was spreading rapidly elsewhere. Forecasts for 2020 oil demand were slashed and they haven’t recovered much in subsequent months as the statistic charts shows.

  • As climate crisis rages, the world's public banks gathered at first-ever summit and chose to not rule out continued fossil fuels funding

    As climate crisis rages, the world's public banks gathered at first-ever summit and chose to not rule out continued fossil fuels funding

    Nov 16, 2020 09:26

    Climate and social justice campaigners on Thursday, November 12th labeled a global summit bringing together over 450 public development banks a missed opportunity of historic proportions after the gathering concluded with no commitment to stop funding fossil fuel projects.

  • US fracking isn’t just bad for the climate. It’s bad for mental health too

    US fracking isn’t just bad for the climate. It’s bad for mental health too

    Oct 29, 2020 10:45

    Researches show that living near fracking sites can lead to chronic stress and self-reported depression. These effects often relate to systemic problems associated with the industry. About 90% of the people interviewed reported increased, chronic stress related to nearby fracking operations, and 75% reported feeling long-term depression – particularly because of the uncertainty about the impacts and feeling powerless to stop it.

  • Trying to have it both ways: Investigation reveals BP and Shell still back anti-climate lobby groups, despite pledges

    Trying to have it both ways: Investigation reveals BP and Shell still back anti-climate lobby groups, despite pledges

    Oct 07, 2020 21:20

    Fossil fuel giants Royal Dutch Shell and BP remain active members of numerous Big Oil lobby groups fighting against climate legislation and regulation—without disclosing this in their transparency reports—an Unearthed and HuffPost investigation revealed.

  • OPEC’s sixtieth anniversary: The pivot of the global oil market

    OPEC’s sixtieth anniversary: The pivot of the global oil market

    Sep 18, 2020 14:01

    September 14, 2020 marks the sixtieth anniversary of the Organization of the Petroleum, Exporting Countries or OPEC – almost two thirds of a century of existence characterized by embargo, conflict, and even war. It is an intergovernmental organization of 13 nations founded in 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia and Venezuela) and headquartered since 1965 in Vienna, Austria.

  • Huge oilfields could help Iran seize Saudi market share in China

    Huge oilfields could help Iran seize Saudi market share in China

    Jun 01, 2020 15:34

    Given that China’s oil demand has now recovered from the COVID-19 outbreak to even higher levels than before, Iran is operating at full tilt to optimize the oil available to key ally Beijing from any and all of its fields. Principally, this involves optimizing output from the cluster of supergiant fields in the West Karoun Oil Region, attempting to increase the average recovery rate from older fields, and pushing forward on production increases from fields shared with Iraq and Kuwait.

  • Advocates eyeing post-pandemic world say green hydrogen’s time has come

    Advocates eyeing post-pandemic world say green hydrogen’s time has come

    May 17, 2020 10:38

    Hydrogen has long been touted as a clean alternative to fossil fuels. Now, as major economies prepare green investments to kickstart growth, advocates spy a golden chance to drag the niche energy into the mainstream of a post-pandemic world. Green hydrogen was pushed to the fore recently when Fatih Birol, Head of the International Energy Agency, said the technology was “ready for the big time” and urged governments to channel investments into the fuel.

  • US oil and gas pipelines are still being built as the rest of the economy shuts down

    US oil and gas pipelines are still being built as the rest of the economy shuts down

    Apr 09, 2020 19:18

    Smaller, lower-profile pipeline projects continue across the United States, essentially fast-tracked as they proceed with streets and calendars cleared of public meetings and protests. In Pennsylvania, a series of pipelines designed to transport natural gas liquids, referred to as the Mariner East system, remain under construction following Gov. Tom Wolf’s decision to grant a waiver to Energy Transfer Partners allowing the company to continue construction at 17 different sites.

  • Global stock markets post biggest falls since 2008 financial crisis

    Global stock markets post biggest falls since 2008 financial crisis

    Mar 11, 2020 11:25

    Global stock markets posted their steepest falls since the 2008 financial crisis after a crash in the oil price amplified concerns about the escalating economic cost of the coronavirus outbreak. Almost £125 billion was wiped off the value of the Financial Times Stock Exchange (FTSE) 100 in the fifth-worst day in history for the index of leading UK company shares, as it plummeted by 7.7 percent to finish the day below 6,000 points, its lowest level since straight after the Brexit vote in 2016.