Energy

Prime Minister Scott Morrison visits a fire damaged property on Kangaroo Island on January 8, 2020. David Mariuz | Pool | Getty Images The Australian prime minister has received praise for his leadership in tackling devastating bush fires that have flared for months. Protestors marched across most of Australia’s state capital cities earlier this month,
0 Comments
Outgoing BP chief Bob Dudley on Wednesday criticized sweeping climate proposals from Sen. Bernie Sanders, a top-tier 2020 Democratic presidential candidate, and Rep. Alexandria Ocasio-Cortez, a champion of the far-left. “They have a completely unrealistic idea of the complexity of the global energy system,” Dudley told CNBC’s “Squawk Box” from the World Economic Forum in Davos, Switzerland.
0 Comments
An Iraqi worker gauges gas emissions from an oil pipe at the Daura oil refiner Getty Images Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, setting the stage for crude flows from the OPEC member to
0 Comments
DUBAI, United Arab Emirates — Dubai-based start-up Cafu is expanding its fuel-delivery operations to Oman, marking its first international market entry since it began services in November 2018. “We are humbled to be able to take our homegrown innovative services from Dubai to the world, starting today with Oman,” Cafu Founder and CEO, Rashid Al
0 Comments
The Hyundai Motor Company and Kia Motors Corporation have made a 100 million euro ($111.65 million) investment in Arrival, a little-known U.K. based start-up specializing in electric vehicles. According to Arrival, the investment values the company, which was established in 2015, at a staggering 3 billion euros. J.P. Morgan led the firm’s funding round and
0 Comments
Aramco oil facility near al-Khurj area, just south of the Saudi capital Riyadh on Sept. 15, 2019. Fayez Nureldine | AFP | Getty Images Oil prices edged higher on Tuesday as investors focused on the signing of a preliminary trade deal between the United States and China, the world’s top oil consumers, and on expectations of a drawdown
0 Comments
Oil prices would skyrocket if Iran moved to completely cut off the Strait of Hormuz, energy analysts told CNBC on Wednesday. Elevated geopolitical tensions have sparked fears of a widening conflict in the Middle East, with energy market participants increasingly concerned that the fallout could soon disrupt regional crude supplies. It has thrust the world’s
0 Comments
Energy expert Tom Kloza expects oil prices to resume rallying on renewed hostilities with Iran. But Kloza, who runs global energy analysis for the Oil Price Information Service, believes the bullish activity is temporary. “We’re in the seventh or eighth inning of a rally that’s sustainable,” he told CNBC’s “Trading Nation” on Tuesday. “I’m pretty
0 Comments
A drilling crew member on an oil rig in the Permian Basin near Wink, Texas.  Nick Oxford | Reuters Core Laboratories‘ decision to cut its dividend in late December illustrates the oil market’s tough future, CNBC’s Jim Cramer said Wednesday. “Management wouldn’t cut it unless they had some serious long-term concerns that the oil industry
0 Comments
US President Donald Trump speaks during a meeting with Greek Prime Minister Kyriakos Mitsotakis in the Oval Office of the White House in Washington, DC, January 7, 2020. Saul Loeb | AFP | Getty Images WASHINGTON — President Donald Trump has responded to Tuesday night’s attack by Iran on US and coalition forces stationed at
0 Comments
Tankers depicted in the Strait of Hormuz — a strategically important waterway which separates Iran, Oman and the United Arab Emirates. ATTA KENARE | AFP | Getty Images A critical gateway to the world’s oil industry has been thrust back into the global spotlight, following a dramatic escalation in geopolitical tensions since the targeted killing
0 Comments
Oil prices jumped 1% during Monday trading — building on Friday’s gains — as tensions in the Middle East escalated over the weekend. Following Thursday’s death of top Iranian commander Qasem Soleimani, on Sunday an Iranian state-run television broadcast said that the nation would no longer respect uranium enrichment restrictions set forth in 2015’s nuclear
0 Comments