Tag Archives: CNN News Channel

Failure to act now on climate change will result in “catastrophic” consequences for the world, the leader of the United Nation’s next climate talks has warned. “I don’t think there’s any other word for it,” Alok Sharma, the British minister in charge of the 26th UN Climate Change Conference (COP26), …

The United Arab Emirates has launched a nuclear energy plant on Saturday, the first such project in the oil-rich Arab world. Unit 1 of the Barakah plant in the Al Dhafrah region of Abu Dhabi started producing heat on Saturday, the Emirates Nuclear Energy Corporation said in a statement. Unit …

Exxon Mobil and Chevron both reported huge losses for the second quarter that were even worse than what Wall Street was expecting — yet another sign of how the Covid-19 pandemic has wrecked the global economy. Shares of Exxon and Chevron were each lower in early trading Friday after announcing …

When the bottom fell out of international crude oil markets earlier this year, global oil storage was at a premium. In the United States, finding sufficient crude oil storage became such a challenge that the West Texas Intermediate crude benchmark plummeted below zero on April 20, ending the day at …

Oil prices hit a four-month high on Thursday, pushed higher by supply restrictions and a global rebound in demand. However, the accelerating spread of the coronavirus across the United States represents a major red flag, threatening another downturn. Experts had long warned that a second wave might be possible, but …

BP has agreed to sell its petrochemicals business to Ineos for $5 billion, the latest in a series of asset sales by the UK oil company as it tries to refocus on cleaner energy. Ineos will pay an initial deposit of $400 million, BP said in a statement Monday. The …

The United States was a net oil exporter for the first time in decades in September.

Rystad Energy forecasts that some operators in Venezuela will run out of naphtha by this month.

US oil production has more than doubled over the past decade.

Russian energy giant Rosneft has loaned more than $6bn to PDVSA.