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Oil News

Sri Lanka indicts skipper of fire-stricken oil tanker

Colombo - Sri Lanka on Thursday indicted the Greek skipper of a fire-damaged supertanker for causing an oil spill and failing to report the environmental damage to the island's waters.

OPEC turns 60 at 'critical moment' for virus-hit oil

London - OPEC faces a critical moment in its 60-year history with the coronavirus crushing crude demand and prices, discord among its members, and threats from a world seeking cleaner fuels.

Mauritius takes stock of oil spill two months later

Nairobi - On July 25, a cargo ship loaded with thousands of tonnes of fuel ran aground off Mauritius, leading to the worst environmental disaster ever witnessed in the tiny Indian Ocean archipelago.

Oil majors not in sync with global climate goals: report

Paris - Oil and gas giants are far from aligning with the global climate change goals they purport to uphold, and only a government-managed decline of the sector can prevent climate catastrophe, according to an analysis released Wednesday.

Maduro announces arrest of 'American spy' near Venezuelan refineries

Caracas - President Nicolas Maduro said Friday that an "American spy" had been arrested near two Venezuelan refineries, after authorities foiled a plot to "cause an explosion" at another oil complex."Yesterday we captured...

Mauritian citizen becomes powerful voice for oil spill anger

Port Louis - In normal times, Bruneau Laurette spends his days providing armed escort to ships dodging pirates as they head through the Indian Ocean.

US confirms seizure of Iranian fuel on Venezuela-bound ships

Washington - The US Justice Department on Friday confirmed it had seized the fuel cargo aboard four tankers sent by Iran to crisis-wracked Venezuela, tying the shipments to Tehran's Revolutionary Guards and stepping up the pressure on its foe.

The treasured wetlands of Mauritius: Factfile

Port Louis - The oil spill off the coast of Mauritius has imperilled protected wetlands that boast rare mangrove forests and scores of fish and coral species.

Peru promises Amazon investment after indigenous deaths

- Peru promised on Monday to invest in its Amazon region, which is a focal point of the coronavirus pandemic, following the death of three indigenous protesters in clashes with police.

Virus crisis threatens to set back oil platform decommissioning

London - Oil companies are being forced to cut spending due to a fall in global oil prices, threatening funds earmarked to dismantle dated off-shore rigs, despite environmental risks.

Two dead as fire rages after India gas well blowout

Tinsukia - Two workers have been found dead near the site of a huge fire ignited by gas that has been spewing from an oil field in India for two weeks, officials said Wednesday.

Huge fire breaks out at India gas well blowout

Guwahati - A huge fire broke out at an oil field near popular ecotourism spots in northeastern India on Tuesday, after gas that had spewed for two weeks from a blown-out well ignited, officials said.

OPEC, allies agree to extend deep output cuts through July

Vienna - OPEC members, led by Saudi Arabia, and other key oil producers agreed Saturday to extend historic output cuts through July, as oil prices tentatively recover and coronavirus lockdowns ease.

OPEC, allies meet to discuss output cuts

London - OPEC and its allies are to meet via video conference Saturday to assess their current deal to slash production as oil prices tentatively recover on easing coronavirus lockdowns.

Venezuela raises fuel prices after arrival of Iranian oil tankers

Caracas - Venezuela will increase fuel prices in June, the president said, putting a limit on state subsidies that for decades had allowed citizens to fill their gas tanks virtually for free.

Are oil prices over the worst of the crisis?

London - World crude prices have staged a modest recovery from last month's dizzying collapse, prompting analysts to wonder whether the worst of the 2020 oil crisis is over.

Venezuela says Iranian tankers will get military escort

Caracas - Venezuela on Wednesday said its navy and air force would escort Iranian tankers arriving with much needed fuel, after Tehran warned of "consequences" if the US stopped the ships from reaching their destination.

Nigeria oil industry scrambles as price fall slams economy

Lagos - The collapse in oil prices linked to the coronavirus crisis has seen Nigeria's revenues from crude dry up and left Africa's largest economy more threatened than ever by its dependence on black gold.

Oil-hungry Asian nations pounce on low prices to build stockpiles

Fpo - Some oil-hungry Asian nations are taking advantage of the collapse in prices caused by the coronavirus pandemic to build up their crude stockpiles.

Crude extends rally as output cuts begin

Fpo - Oil prices rose Friday as massive output cuts began to kick in and top producers said they would turn the taps lower, while there were also hopes for a pick-up in demand as economies slowly reopen.

Oil rebounds above $14 after massive sell-off

Fpo - US oil prices rebounded above $14 a barrel Wednesday, a day after a sell-off sparked by a major fund selling its short-term holdings of the commodity amid virus-triggered storage concerns.

Venezuelan oil price falls below $10, lowest level in 20 years

Caracas - The price of Venezuelan oil has fallen to below $10 a barrel -- its lowest level in more than two decades, the government said on Friday.The oil ministry said the price between Monday and Friday was 70.62 Chinese yuan -- $9.

Venezuelan oil price falls to $9.90, lowest level in 20 years

Caracas - The price of Venezuelan oil has fallen to its lowest level in more than two decades to just $9.90 a barrel, the oil ministry said on Friday.The ministry said the price between Monday and Friday was 70.

Impact of the coronavirus on the African oil and energy market Special

Coronavirus is impacting heavily on every sector of the economy. But how are different sectors responding and how can responses be coordinated? We take a look at Africa's energy sector with NJ Ayuk.

Oil crash means more misery ahead for US shale producers

New York - An unprecedented crash in oil prices is adding pressure to already stressed US producers, threatening key shale regions and putting vulnerable companies at risk of going under.

Trump orders plan to fund US oil companies

Washington - President Donald Trump on Tuesday ordered his administration to come up with a plan to aid US oil companies struggling with a massive supply glut and record-low crude prices."We will never let the great U.S. Oil & Gas Industry down," Trump tweeted....

Saudi says closely monitoring oil markets, ready to act

Apo - OPEC kingpin Saudi Arabia said Tuesday it was closely monitoring oil markets and stood ready to take further measures after crude prices plunged to historic lows.

Singapore police probe oil trading giant

Fpo - Singapore has launched a probe into an oil trading firm that allegedly covered up hundreds of millions of dollars in losses, police said Tuesday.

US oil prices tumble into negative territory for first time

New York - Oil prices ended New York trading in the negative on Monday for the first time ever, as a supply glut forced traders to pay others to take the commodity.

Canada funds oil sector environmental cleanup during pandemic

Ottawa - Prime Minister Justin Trudeau on Friday announced Can$1.7 billion (US$1.2 billion) to help Canada's oil sector, struggling with low prices, survive a pandemic-related downturn by cleaning up environmental messes.
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OIL TRAIN: Rail cars loaded with crude oil burn on the tracks in the Columbia River Gorge near Mosie...
OIL TRAIN: Rail cars loaded with crude oil burn on the tracks in the Columbia River Gorge near Mosier, Ore., after a 100-car train derailed on June 3.
U.S. Coast Guard PFC Levi Read/Wikimedia Commons
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Public understanding of the difference between Beach advisory and beach closure can make the difference of whether beach rentals stay in business or fold.
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Dry sand from a tailing pond  water is used to remove the oil from the sand. The water and sand whic...
Dry sand from a tailing pond, water is used to remove the oil from the sand. The water and sand which is left over is moved to holding ponds.
Protesters opposed to the proposed Keystone XL demonstrate outside the White House in 2011.
Protesters opposed to the proposed Keystone XL demonstrate outside the White House in 2011.
Chesapeakeclimate/Wikimedia Commons
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Ken Lund
Sonis sounds amplified down toward seabed.
Sonis sounds amplified down toward seabed.
NMANewsDirect
A tailing pond.
A tailing pond.
The Athabasca Oil Sands  Alberta Canada.
The Athabasca Oil Sands, Alberta Canada.
ENERGY: A major oil refinery in Port Arthur  Texas  is shown after it was damaged by Hurricane Rita ...
ENERGY: A major oil refinery in Port Arthur, Texas, is shown after it was damaged by Hurricane Rita in 2005.
Leif Skoogfors-FEMA/Wikimedia Commons
Protesters in Rio de Janeiro over oil royalties.
Protesters in Rio de Janeiro over oil royalties.
YouTube
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Yahoo Finance
BP Gulf of Mexico
BP Gulf of Mexico
BP p.l.c
NASA satellite image acquired May 9  2010 of the oil spill in the Gulf of Mexico
NASA satellite image acquired May 9, 2010 of the oil spill in the Gulf of Mexico
NASA Goddard
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CBS
Greenpeace activists chain themselves to each other during a demonstration on Bosphorus bridge calli...
Greenpeace activists chain themselves to each other during a demonstration on Bosphorus bridge calling for the release of 30 people arrested in Russia over a protest against Arctic oil drilling, during the Istanbul Marathon in Istanbul November 17, 2013. The 30 people detained by Russia consists of 28 activists who were arrested after coastguards boarded the Greenpeace icebreaker Arctic Sunrise following the protest at an oil platform owned by state-controlled Gazprom off Russia's northern coas
With permission by Reuters / Murad Sezer
Half Moon Caye  Belize. Notice the white beaches and clear blue water.
Half Moon Caye, Belize. Notice the white beaches and clear blue water.
anoldent from Asheville, NC,
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