Tag: President Trump

World Bank pledges $200bn in climate funding

World Bank pledges $200bn in climate funding

The World Bank has pledged $200 billion in investments for low carbon projects, despite the fact that its largest shareholder, USA, is refusing to re-join the Paris agreement and is set to host a pro-fossil fuel side event at the United Nation’s climate talks. The funds will come from a […]

Saudi Arabia pump record levels of oil on pressure from Trump

Saudi Arabia pump record levels of oil on pressure from Trump

Saudi Arabia has increased its oil production to an all-time high in November as US President Donald Trump stepped up pressure on the country to prevent it from applying output cuts at next week’s OPEC meeting. The meeting will see OPEC members discuss ways to bring an end to the […]

Oil falls to one-year low on supply glut

Oil falls to one-year low on supply glut

Global oil prices have plummeted to their lowest since late 2017, weighed down by oversupply and fears over economic outlook. In response to the growing supply, OPEC is expected to withhold its output following a meeting planned for 6th December as international benchmark Bent crude dropped to its lowest since […]

The US plans fossil fuel side event at UN climate talks

The US plans fossil fuel side event at UN climate talks

The Trump administration has announced plans to hold a side event at next month’s UN climate talks to promote the use of fossil fuels, according to sources. During last year’s discussions in Bonn, Germany, the US administration a held similar event used to highlight the benefit of technologies that allow […]

US judge halts pipeline construction

US judge halts pipeline construction

A US judge has blocked the construction of the Keystone XL Pipeline from Canada to the US, stating the Trump administration has “discarded” facts when it approved the project in 2017. US President Donald Trump, who described the decision as a disgrace, and his administration will be able to appeal […]

OPEC increase output to highest since 2016

OPEC increase output to highest since 2016

OPEC has increased its oil production in November to the highest level since 2016, according to a Reuters survey which found that higher output lead by the UAE and Libya more than compensated for reduced Iranian exports. Collectively the 15-member bloc produced 33.31 million barrels per day in October, up […]

Stopping Iranian oil exports is a “political bluff”

Stopping Iranian oil exports is a “political bluff”

The head of state-owned National Iranian Oil Company, Ali Kardor, has been quoted by the Tasnim news agency as saying America’s call to cut Iran’s oil exports to zero is a “political bluff”. Officials from the US have said the country aims to cut Iranian oil exports to zero, in […]

Saudi meets US promise to replace Iranian oil

Saudi meets US promise to replace Iranian oil

Saudi Crown Prince Mohammed bin Salman has said the country has met its promise to the US to make up for lost Iranian supplies from US sanctions. Last week, Prince Mohammed told Bloomberg: “The request that America made to Saudi Arabia and other OPEC countries is to be sure that […]