Oil prices rise on prospect that Saudi Arabia seeking output cut extension

By Henning Gloystein SINGAPORE, Apr 12 : Oil prices rose on Wednesday, putting crude futures on track for their longest streak of gains since August 2016, as Saudi Arabia was reported to be lobbying OPEC and other producers to extend a production cut beyond the first half of 2017. Brent crude futures, the international benchmark […]

After Cyclone Debbie, China replaces Australian coal with US cargoes

By Henning Gloystein SINGAPORE, Apr 4 : China, the world’s biggest coking coal importer, is scrambling to cover Australian supply disruptions after Cyclone Debbie knocked out mines and rails by turning to an unusual source: the United States. Debbie, which hit Australia’s Queensland state last week, caused the evacuation of several mines and damaged coal […]

Venezuela court move may ease Russian investment, spook other oil majors

By Alexandra Ulmer Undated,Mar 31 : The sight of Venezuela’s National Assembly president tearing up a Supreme Court ruling and warning foreign firms against making deals with the leftist government will no doubt resonate in international boardrooms. The ruling ripped up by Congress head Julio Borges on Thursday was designed to allow President Nicolas Maduro […]

Lack of cash clouds Cuba’s green energy outlook

By Sarah Marsh CIRO REDONDO, Cuba, Mar 31 : Cuba, battling a chronic energy deficit, has all the sunshine, wind and sugar to fuel what should be a booming renewables sector – if only it could find the money. The country’s first utility-scale renewable energy project, a biomass plant in Ciro Redondo, is finally under […]

Australia’s dirtiest coal plant closes, energy crisis deepens

By Sonali Paul HAZELWOOD, Australia, Mar 31 : The doors to Australia’s dirtiest power station will close permanently on Friday after 50 years, amping up pressure on a government desperate to avoid the kind of embarrassing blackouts that hit chunks of the country during a recent savage heatwave. France’s Engie SA is pulling the plug […]