(Oil Price)– For most of the last decade, OPEC and Russia, collectively referred to as OPEC+, have aligned their interests in maintaining high oil prices and set production quotas that furthered this goal. Saudi Arabia, OPEC’s largest member, has, as part of its Vision 2030 Initiative, a multi-trillion-dollar goal of diversifying its economy away from dependence on hydrocarbons and uses
(Investing) – WASHINGTON -The Trump administration will expand coal mine leasing on federal lands and provide hundreds of millions of dollars to support more coal-fired power generation, officials said on Monday. The plan is part of a broader effort by the administration to reverse the decline of coal use in the U.S., a fossil fuel that has been hard hit by
(Oil Price) – The Trump Administration is pushing the World Bank to boost funding for oil and gas in what would be a U-turn in the lender’s policy not to finance new fossil fuel projects. Back in 2017, the World Bank Group said it would no longer finance upstream oil and gas after 2019. But the group noted that “In exceptional circumstances, consideration
(Investing.com)– Jobs in solar, wind and other clean energy industries grew three times faster than in the rest of the U.S. workforce last year, according to a study published on Friday, warning that many of them could go due to Trump administration efforts to block renewables. The clean energy industry added 100,000 jobs in 2024, growing 2.8% to employ more
(Oil Price)– American LNG exports hit a monthly record in August as newly started-up projects gradually ramp up output and shipments, and facilities ended planned maintenance. The August record will be beaten very soon as new export projects are close to launch and the supportive Trump Administration continues to approve proposed plants. Three U.S. LNG projects have taken final investment
(World Oil)– India’s Finance Minister Nirmala Sitharaman said the country will continue buying Russian oil, signaling its intent to defy U.S. President Donald Trump’s persistent demands to halt the purchases. U.S. President Trump has imposed 50% tariffs on India in retaliation for Russian oil purchases “Where we buy our oil from, especially a big-ticket foreign exchange item where we pay
(Oil & Gas 360) – In the late winter and spring of this year, foreign policy was a major activity of the Trump Administration. The Ukraine war with Russia, the Middle East, and negotiating cease fires between India and Pakistan and between Rwanda and the Democratic Republic of Congo, and various trade discussions, many contentious, took focused diplomatic attention punctuated
(Oil Price)– Plutonium material from dismantled U.S. nuclear warheads from the Cold War could be offered to American power firms as a fuel to potentially use in advanced nuclear technologies, under a draft plan of the Trump Administration. The U.S. does not use plutonium in nuclear power facilities. In the past, plutonium has been converted into fuel for commercial reactors
(Oil Price)– The U.S. Department of Energy has announced close to $1 billion in funding opportunities for stimulating domestic mining, processing, and manufacturing ventures involving critical minerals in a bid to reduce the country’s dependence on imports. About half of the total will be spent on battery manufacturing and recycling, despite the Trump administration’s negative attitude to electric vehicles, which drove
(Oil Price)– The United States looks to replace the deputy executive director of the International Energy Agency (IEA), the second-in-command role in the agency that is usually reserved for a U.S. representative, POLITICO’s E&E News reported on Thursday, quoting former U.S. officials and energy industry insiders familiar with the plan. American Mary Burce Warlick is currently the Deputy Executive Director of the
(Oil Price)– Venezuela’s crude and fuel exports fell in July by some 10% from June to average 727,000 barrels per day (bpd), as Chevron and other partners of state oil firm PDVSA were waiting for U.S. authorizations to resume operations and exports that were prohibited in May. Venezuela also exported about 227,000 metric tons of oil by-products and petrochemicals last
(World Oil)– The U.S. sealed a trade deal with Pakistan as their officials wrapped up talks in Washington, agreeing to develop oil reserves. The pact involves a reduction of the so-called reciprocal tariffs, especially on Pakistani exports, according to a statement by Pakistan’s finance ministry on Thursday. No details on tariffs were shared by either side. U.S. President Donald Trump
