Politics

Russia to defend its Venezuela assets

Russia to defend its Venezuela assets

Russia has stated that it will stand by Venezuela and will protect its assets in the country, which has received vast investment into its state-owned oil giant PDVSA in exchange for crude deliveries. Dmitry Peskov, spokesman for Russia’s President Vladimir Putin, said Russia will use “all mechanisms available to us” […]

Venezuela says debt fell in 2018

Venezuela says debt fell in 2018

Venezuela’s state-owned oil company PDVSA has announced a 5% drop in debt during 2018 to $34.6 billion, although the country remains in default on most of its bonds as crude output fell to 70-year lows on its economic crisis. PDVSA has not paid interest on the majority of its bonds […]

Trump could use World Bank appointee to promote its pro energy access stance

Trump could use World Bank appointee to promote its pro energy access stance

Following World Bank President Jim Yong Kim’s decision to step down from his role three years before the end of his term, attention is focusing on whether US President Donald Trump will use the vacancy to appoint a new leader in line with his policies. After Trump’s decision to pull […]

UK energy security under threat following Hitachi decision

UK energy security under threat following Hitachi decision

Hitachi’s decision to suspend work on the Wylfa nuclear power plant has heightened concerns over energy security in the UK, as government looks to reduce its use of reliable energy sources. The UK’s programme of nuclear construction, which was set to contribute a significant proportion of British power in the […]

German transition away from coal to cost taxpayers billions

German transition away from coal to cost taxpayers billions

The cost of Germany’s transition away from the use of coal could end up setting taxpayers back billions of euros each year over the next two decades. The country’s reliance on the cheap fuel is seen to be one of the reasons it is falling behind on its climate change […]

US warns German companies over Nord Stream 2 involvement

US warns German companies over Nord Stream 2 involvement

The US has warned German stakeholders in the Russian-led Nord Stream 2 pipeline that sanctions could be imposed on them if they continue their involvement in the project. US President Donald Trump has described Germany as being a “captive” of Russia as a result of its reliance on Moscow’s energy […]

Venezuelan congress criticises oil deals with the US and France

Venezuelan congress criticises oil deals with the US and France

Venezuela’s opposition-run congress has hit out against deals between the country’s state-run PDVSA and US and French companies, describing them as illegal as they had not gained lawmakers approval. Members of the opposition said deals for oilfields between the government and France’s Maurel & Prom and US based Erepla violated […]

Iran will not comply with US sanctions

Iran will not comply with US sanctions

Iran will not comply with the “fully illegal” US sanctions imposed on Tehran, according to the country’s oil minister Bijan Zanganeh. Speaking at a joint news conference in Baghdad with Iraqi Oil Minister Thamer al-Ghadhban, Zanganeh said Iran would not disclose the extent or destination of its oil exports while […]