Politics

UK and EU to block Trump’s Iran sanctions

UK and EU to block Trump’s Iran sanctions

The UK has signed a joint statement with the European Union in effort to block the impact of US President Donald Trump’s latest sanctions on Iran. UK Foreign Secretary Jeremy Hunt signed the statement along with other European ministers, including EU High Representative Federica Mogherini and foreign ministers Jean-Yves Le […]

Iran will respond if US blocks oil exports

Iran will respond if US blocks oil exports

Iran’s foreign ministry has stated that it will respond with equal countermeasures if the US attempts to block its oil exports after Washington officials ramped up pressure on allies to stop importing the Iranian commodity. Bahram Qassemi, a spokesman for the ministry, said: “If America wants to take a serious […]

Markets skeptical of Venezuela’s plan to increase oil production

Markets skeptical of Venezuela’s plan to increase oil production

Venezuela’s Oil Minister Manuel Quevedo has held discussions with the country’s state-owned oil giant PDVSA to boost its oil production in the second half of 2018. Although Venezuela has claimed it is revising its plans for production to make this year one of “consolidation and stabilisation”, the industry in a […]

US to compete with Russia for European gas market

US to compete with Russia for European gas market

US President Donald Trump has announced that the US will compete with Russia to supply gas to the European gas market, as he eased his stance on Nord Stream 2 following the recent Helsinki summit where Trump and his Russian counterpart held one on one discussions. “We are going to […]

Trump calls out Germany over Nord Stream 2

Trump calls out Germany over Nord Stream 2

US President Donald Trump has launched a public attack on the EU, describing the bloc of a “foe”, and used the opportunity to express his concerns over the Nord Stream 2 project, ahead of his meeting with Russian President Vladimir Putin. During an interview with CBS News, Trump was asked […]

Hard Brexit could lead to an energy disaster in NI

Hard Brexit could lead to an energy disaster in NI

In the case of a hard Brexit, thousands of generators may have to be put on barges and sent to the Irish Sea to help keep the lights on in Northern Ireland, according to a new Whitehall paper. Northern Ireland relies on the Republic of Ireland for a significant portion […]

North Sea tax legislation one step closer to implementation

North Sea tax legislation one step closer to implementation

A draft of new legislation for the introduction of transferable tax history (TTH) for the North Sea oil and gas industry has been published by the UK Government, taking it one step closer to being implemented. Government has said that TTH will be available for all North Sea license transfers […]

IEA supports new US carbon capture tax credit

IEA supports new US carbon capture tax credit

International Energy Agency (IEA) Executive Director Fatih Birol has praised the 2018 federal budget that he says could lead to a breakthrough in carbon capture technologies and help the world achieve its Paris Agreement obligations. “There is one political move recently that I should say, I welcome this strongly,” Birol […]