LONDON/DUBAI, Dec 18 (Reuters) – Iran’s Revolutionary Guards have tightened their grip on the country’s oil industry and control up to half the exports that generate most of Tehran’s revenue and fund its proxies across the Middle East, according to … Read More
Libya’s ongoing political turmoil has led to another oil shutdown, pushing up global energy prices. Since the 2011 NATO-backed uprising, various factions have competed for control over Libya’s oil wealth. The latest standoff revolves around the control of the Central … Read More
Around 500 billion barrels worth of oil – 10 times the North Sea’s output – has been discovered in the region. Russia has reportedly discovered billions of barrels worth of oil and gas reserves in the British Antarctic territory, prompting … Read More
Russian President Vladimir Putin is making a rare trip abroad to the United Arab Emirates (UAE) and is also scheduled to travel to Saudi Arabia. Mr Putin is expected to discuss the wars in Gaza and Ukraine, as well as … Read More
Shell’s board of directors are being personally sued over their alleged failure to properly manage risks associated with the climate crisis. The lawsuit says the British oil giant’s 11 directors have breached their legal duties under the UK’s Companies Act … Read More
The European Union is “ready to go” with its efforts to impose a price cap on Russian oil exports, according to Ursula von der Leyen, the president of the European Commission. “We have set all the tools necessary in place … Read More
The number of delegates with links to fossil fuels at the UN climate summit has jumped 25% from the last meeting, analysis shared with the BBC shows. Campaign group Global Witness found more than 600 people at the talks in … Read More
Saudi Arabia’s energy minister on Tuesday blasted the release of emergency oil stocks as an attempt to “manipulate markets”, the latest apparent salvo in a spat with Washington over oil production. “People are depleting their emergency stocks, had depleted it, … Read More
High-tech tracking tools haven’t deterred Black Sea smugglers from lining tankers up like cars at a gas station. Russia is exporting “more oil than ever” despite Western attempts to cut off one of Moscow’s economic lifelines and despite new tools … Read More
DUBAI, June 1 (Reuters) – Iran will continue oil shipments to Venezuela if Caracas requests more supplies, the Iranian Foreign Ministry spokesman said on Monday, despite Washington’s criticism of the trade between the two nations which are both under U.S. … Read More