Tag: US

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 […]

US to become key global energy source

US to become key global energy source

A top US energy diplomat has said America will become a significant energy source across the globe, with its innovation in technology and financing that will help boost oil and gas production over the next ten years. Frank Fannon, assistant secretary in the energy bureau of the U.S. state department, […]

UK imports of US Gulf Coast crude rally

UK imports of US Gulf Coast crude rally

US Gulf Coast crude oil exports to the UK have bounced back from a five-week low, with week-on-week oil cargoes reaching 1 million barrels higher in the week to 26th October. Cargoes from the region in the US included two shipments of 536,000 barrels and one cargo of 501,000 barrels, […]

EU scrambles to create trade vehicle for Iranian oil

EU scrambles to create trade vehicle for Iranian oil

Last month the European Union set out its plans to form a special-purpose body to deal with transactions that include Iranian oil and European goods in a bid to avoid US sanctions on Iran, however the bloc is struggling to create the vehicle as EU members are reluctant to host […]

Saudi Arabia and Russia extend oil pact

Saudi Arabia and Russia extend oil pact

Saudi Arabia and Russia have agreed to extend their partnership to maintain oil stability, according to Saudi Energy Minister Khalid al-Falih. “Saudi Arabia and Russia will interfere together, along with the heads of the other producing states, to prevent the market form falling out of balance,” the minister said during […]

Qatar to boost LNG output by 43%

Qatar to boost LNG output by 43%

Qatar has announced plans to increase liquefied natural gas (LNG) production to 110 million tonnes annually, a rise of 43%. Qatar currently produces 77 million tonnes of LNG annually and earlier this year announced plans to increase this to 100 million tonnes following its decision to lift an embargo on […]

US concerned Iran will bypass sanctions by going through Russia

US concerned Iran will bypass sanctions by going through Russia

The US has been said to be concerned that Russia could help Iran avoid US sanctions on its oil by buying it from Tehran and selling it on as a Russian commodity. America is set to introduce stringent sanctions on Iran early next month that are aimed at bringing Iranian […]

Poland favour US LNG over Russia

Poland favour US LNG over Russia

Poland’s major gas company PGNiG has signed a 20-year deal with US Venture Global LNG that will see it receive 2 million tons of American LNG annually from 2022, as Poland looks to reduce its reliance on Russia for oil and gas imports. The US LNG will cost Poland a […]