Tag: US

India signs annual deal for US oil

India signs annual deal for US oil

Indian Oil Corporation has signed its first annual deal to purchase US oil in a deal that will see it pay $1.5 billion for 600,000 barrels a day in the twelve months to March 2020, in the country’s bid to diversify its crude sources. IOC is the country’s top refiner […]

Investment and growth in coal output is still on the global agenda

Investment and growth in coal output is still on the global agenda

Major economies are still using and, in some places, increasing their coal output due to its cheap and reliable nature, with demand not waning. Both the US and China are not moving away from coal anytime soon. In the US, Wyoming Governor Mark Gordon is looking at three potential sites […]

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 […]

Oil sees first yearly loss since 2015

Oil sees first yearly loss since 2015

Oil prices ended last year with full-year losses for the first time since 2015 after a chaotic fourth quarter, which saw investors flee the market due to concerns over a supply glut and mix signals over US sanctions on Iran. Over the year, US West Texas Intermediate Crude (WTI) future […]

Trump’s pro-fossil fuel stance gains momentum

Trump’s pro-fossil fuel stance gains momentum

The US this week held a side-event at the COP24 conference and declared that fossil fuels are here to stay and will help to end energy poverty in the developing world. The event held at COP24 on Monday gave the US administration a platform to promote President Donald Trump’s pro-fossil […]

US to end year as world’s top oil producer

US to end year as world’s top oil producer

The US will end 2018 as the world’s largest oil producer after output hit a record 10.88 million barrels per day, according to the Energy Information Administration (EIA). Output is expected to rise by 1.53 million bpd, slightly down from previous estimated at 1.55 million bpd, but still higher than […]

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, […]