World Oil (Bloomberg) –The UK proposed a series of climate change tests to determine whether new oil and gas fields can be built off its shores, but said its net-zero pledge doesn’t require the industry to be shut down. New projects could potentially still be allowed if they can show that their proposed emissions are less than those that come
Forbes The U.K. government today announced it would adopt a much tougher climate target of slashing carbon emissions 78% by 2035, in a British bid to claim global leadership on climate action. Introducing the target as part of the U.K.’s Sixth Carbon Budget, Prime Minister Boris Johnson said: “We want to continue to raise the bar on tackling climate change,
From The Houston Chronicle An Iranian supertanker with $130 million worth of light crude oil that the U.S. suspects is tied to a sanctioned organization left Gibraltar and was heading east into the Mediterranean Sea on Monday, with its next destination reported to be Greece. The Iran-flagged Adrian Darya 1, previously named Grace 1, set course for Kalamata, Greece, with
From CNBC An Iranian oil tanker held in Gibraltar since early July has been officially released by local authorities, although it may not sail if a U.S. application to seize the vessel proves successful. On July 4, Gibraltar authorities with the help of the British Royal Marines, seized the Grace 1 oil tanker following suspicions it was delivering oil to
From Reuters The Panama Canal will continue authorizing vessels coming from Venezuela provided they present the necessary paperwork, the waterway’s chief said on Wednesday, suggesting a new round of U.S. sanctions on the South American nation should not make a difference to canal traffic. President Donald Trump’s administration last week issued an executive order freezing all Venezuelan government assets in
From The Houston Chronicle Iran expects an oil tanker seized by the U.K. in the Strait of Gibraltar in July will be released soon, the semi-official Fars News agency reported Tuesday, a move that could help to ease concerns about the safety of shipping routes in the Middle East. “Official and unofficial documents have been exchanged to resolve the matter
From Reuters Britain on Monday joined the United States in a maritime security mission in the Gulf to protect merchant vessels travelling through the Strait of Hormuz after Iran seized a British-flagged vessel. British officials stressed that there was no change to London’s policy on Iran but joining the United States is the most significant non-Brexit foreign policy move to
From CNBC Iranian President Hassan Rouhani has told his cabinet that protecting security around the Persian Gulf is solely the responsibility of countries in the region and that other nations should stay away. The United Kingdom is attempting to form an alliance with other nations to protect ships passing through the Persian Gulf and Strait of Hormuz, a channel that
By 2050, National Grid predicts, 35m electric cars will supply energy when needed From The Guardian Electric cars could use wind and solar to charge up, then supply the excess energy to the national grid. A fleet of 35 million electric vehicles could help the UK reach its net-zero carbon target by forming large battery hubs to store renewable energy,
Marathon Oil Signs Agreement for Divestiture of U.K. Business
CNOOC Limited Announced a New Discovery in UK North Sea
Hurricane Harvey disrupted U.S. Gulf Coast refining operations from late August to September in 2017, and pausing operations led to record-high U.S. crude oil exports when facilities reopened after the storm, the EIA reported today. In October 2017, crude oil exports from the United States reached a monthly record of more than 1.7 MMBOPD. The EIA’s Petroleum Supply Monthly data
