Politics

U.S. President Donald Trump gives a press briefing with U.S. National Security Advisor John Bolton and Larry Kudlow at the G7 summit in the Charlevoix city of La Malbaie, Quebec, Canada June 9, 2018. REUTERS/Leah Millis

US advocates fossil fuels for energy security at G7

Tensions flared between the US and other G7 members as it moves to prioritise economic growth and energy security over a rapid transition to renewables.  At the G7 summit in Canada, the US reiterated its belief that all countries should be able to decide their own domestic energy policies. As part of […]

G7 countries spend $100 billion on fossil fuels despite climate pledges

G7 countries spend $100 billion on fossil fuels despite climate pledges

A new study has found that G7 countries spend at least $100 billion each year on supporting fossil fuels, while they limit the economic growth of developing countries by encouraging them to reduce fossil fuel subsidies. The Group of Seven (G7) is made up of the UK, Canada, France, Germany, […]

Tensions escalate between Russia and Ukraine over Nord Stream

Tensions escalate between Russia and Ukraine over Nord Stream

The Ukrainian President has ordered the seizure of the country’s overseas assets of Gazprom and its shares in the Nord Stream gas pipeline as it looks to enforce a Stockholm tribunal ruling against the Russian giant. A Dutch court has approved the petition to freeze assets in the Netherlands as […]

US energy boom strengthens national security position

US energy boom strengthens national security position

The production of domestic oil and gas in the US provides the country and its allies with extra security over potentially hostile countries, such as Russia, energy analysts have told a House Foreign Affairs committee. Kenneth Medlock, senior director of the Centre for Energy Studies at Rice University, said the […]

Nord Stream 2 unaffected by US

Nord Stream 2 unaffected by US

Nord Stream 2’s technical director has said the construction of the project has not been affected by US opposition. Sergey Serdyukov, technical director of the project being led by Russian state-owned firm Gazprom, said construction is due to start in July as planned, despite claims from the US that the […]

Oil gains supported by US sanctions on Venezuela

Oil gains supported by US sanctions on Venezuela

Oil prices have surged this week following renewed US sanctions on Venezuela following the re-election of President Nicolás Maduro. Since the election, US President Donald Trump has increased financial pressure on the rapidly deteriorating economy of Venezuela by banning the US purchase of debts or account receivables owed to the […]

Banks could limit Europe’s continuing trade with Iran

Banks could limit Europe’s continuing trade with Iran

In the aftermath of the US withdrawing from the Iran deal, European customers are continuing to purchase Iranian oil with no immediate plans to reduce imports, however it has been noted that financial issues could bring crude trade to a grinding halt with Iran. Following a 180-day cool down period, […]

US could sanction Venezuela after elections

US could sanction Venezuela after elections

Oil analysts have said the US could impose additional sanctions on Venezuela after the South American nation’s elections on Sunday – that a number of countries in the America’s have described as a sham. Tamas Varga, analyst at PVM Oil Associates, said: “Maduro will win as the election is rigged […]