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President Donald Trump, right, shakes hands with Chinese President Xi Jinping during a dinner at Mar-a-Lago, Thursday, April 6, 2017, in Palm Beach, Fla. (AP Photo/Alex Brandon)

China becomes biggest buyer of US crude oil

February saw China surpass Canada to become the biggest buyer of US crude oil in February, at a time when OPEC is cutting back output. According to US Census Bureau data, China nearly quadrupled its imports of US light crude on the previous month to 8.08 million barrels in February. […]

Wave power sector has ‘failed’, industry insider says

Wave power sector has ‘failed’, industry insider says

A leading figure in the wave power industry has conceded the sector has “failed”, following calls for a “radical rethink” of the technology. Simon Gillett, co-founder and CEO of Wave-tricity, made the admission after disclosing that no company is making money from wave power anywhere in the world. The government-funded […]

Petrobras reports exponential growth in oil theft

Petrobras reports exponential growth in oil theft

Petrobras’ operational problems in Brazil are being added to by oil theft orchestrated by organised gangs. The phenomenon has been growing exponentially with one reported incident in 2014, 14 in 2015 and 73 in 2016. The scale of the problem facing Petrobras is huge – it has over 11,000 kilometres […]

Pre event - Quest Start Up Launch & Campaign - Day Two

UK delaying carbon capture and storage technology could cost £1bn a year

Delaying the rollout of carbon capture and storage could cost the UK more than £1billion a year, experts have said. According to the Energy Technologies Institute (ETI), carbon capture and storage (CCS) is the most cost effective way of meeting climate change targets and needs to be deployed sooner rather […]

International cooperation to boost Pakistan’s energy capacity

International cooperation to boost Pakistan’s energy capacity

China and Pakistan are working on a $3.5 billion project to generate 1.3 gigawatts of electricity. The project centres on utilising Pakistan’s vast coal reserves to end the power capacity problems in Pakistan. Currently 12 hour long blackouts are typical even in Karachi the largest city in Pakistan. There are […]

Gazprom considers leaving the UK because of Brexit

Gazprom considers leaving the UK because of Brexit

Gazprom, the world’s largest natural gas producer, is considering moving its trading and marketing operations out of the UK amid concerns over the impact of Brexit on its European operations. The Russian state-owned firm fears that a “hard” Brexit, a scenario where the UK and EU fail to reach an […]

Australian opposition drops 50% renewables target

Australian opposition drops 50% renewables target

The Australian Labor Party has announced it is dropping the renewable energy target (RET) as a party policy, having decided that “the emissions intensity scheme does that job.” Speaking to Sky News Australia, Andrew Leigh, Labor’s Shadow Assistant Treasurer and Shadow Minister for Competition and Productivity, revealed that the party […]

BP boss to lose £5 million in pay

BP boss to lose £5 million in pay

Sky News is reporting that the CEO of BP, Bob Dudley is to have his maximum pay cut by £5 million ($6.2 million) for the next three years. The decision was revealed to Sky News by sources involved in the decision who say it is to avoid a shareholder revolt. […]