Natural Resources Minister Jonathan Wilkinson says Canada can produce and export another 300,000 barrels of oil and natural gas per day as part of a global effort to displace Russian fossil fuels. Wilkinson is in Paris for an International Energy Agency meeting, which was focused heavily on helping Europe reduce its strong dependence on Russia…
Oil Prices Steady as Western Leaders Meet Over Ukraine Crisis
LONDON -Oil prices were steady on Thursday as the U.S. president met other Western leaders and investors in Brussels for emergency talks about the Ukraine crisis. Benchmark Brent was up 0.3 percent at $121.95 a barrel by 1111 GMT, after falling by close to $2 earlier in the session. U.S West Texas Intermediate (WTI) was little…
Russia Warns of Sharp Caspian Pipeline Oil Export Drop After Storm
March 24, 2022
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Russian and Kazakhstan oil exports via the Caspian Pipeline Consortium (CPC) from the Black Sea may fall by up to 1 million barrels per day (bpd), or 1 percent of global oil production, due to storm-damaged berths, a Russian official said on Tuesday. Pavel Sorokin, a deputy energy minister, said the second berth could also…
Examining China’s Oil Imports: Buying From the US
Rescuers announce one of two black boxes have been found—following the tragic Boeing plane crash in China. Relatives and other loved ones also arrive on the scene. The United States deals another heavy blow to Chinese officials—this time, targeting their ability to get through the border. A U.S. military admiral says China is arming man-made…
Oil Jumps in Volatile Trade Amid CPC Pipeline Disruption
March 23, 2022
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Business & EconomycommoditiesCPCcrudeeconomic policieseconomyEuropeglobalKazakhMarketsOilpipelineRussia-Ukraine WarRussianstocksWorld
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LONDON—Oil prices rose in volatile trading on Wednesday, supported by disruption to Russian and Kazakh crude exports via the CPC pipeline. Brent crude futures were up $5.16, or 4.5 percent, at $120.64 a barrel at 1335 GMT. Prices had earlier fallen to a low of $114.45. U.S. West Texas Intermediate (WTI) crude futures rose $4.83,…
WH Anticipates Global Food Shortage From War; Banks Seize $2 Billion From Evergrande | NTD Business
The White House is warning of possible food shortages coming because of the war in Ukraine. Which countries would feel the impact? The EU is planning to phase out importing Russian oil and gas imports in a few years, but it won’t be easy. We ask Daniel Lacalle what the challenges are. A Chinese bank…
Oil Rises Towards $116 as EU Weighs Russian Ban
March 22, 2022
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Business & EconomycommoditiescrisisEuropeglobalMarketsOilRussiaRussia-Ukraine WarsanctionstocksWorld
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LONDON -Oil rose towards $116 a barrel on Tuesday, adding to a 7 percent surge the previous day, supported by supply risks from a potential European Union oil embargo on Russia and concern about attacks on Saudi oil facilities. European Union foreign ministers are split on whether to join the United States in banning Russian…
Beyond Pollution
Watching his hometown and its surrounding areas being desecrated by BP’s massive oil spill, director Barker White was compelled to uncover the truth. Traveling thousands of miles across the most severely impacted areas, he interviewed key experts, BP contractors, government officials, fisherman and many more. Ride along with this team of filmmakers as they unveil…
China Lures the Saudis Into Its Orbit
March 21, 2022
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ChinaChina Business & EconomyGlobal ExpansionOilOpinionSaudi ArabiaSpecial TopicsThinking About ChinaUS-China relations
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News Analysis The Kingdom of Saudi Arabia (KSA) is considering a major defection from its long-standing economic alliance with the United States. The likely winner would be China. Having priced all of its oil in dollars since 1974, which has helped give the greenback massive value globally, the Saudis are softening to persuasion from Beijing,…
Saudi Arabia Issues Warning on Global Oil Supplies
Saudi Arabia said on Monday that it claims no responsibility for a shortage in global oil supplies after an alleged attack by Yemeni rebels impacted production in the kingdom. A statement from Saudi Arabia’s government said “that it will not bear any responsibility for any shortage in oil supplies to global markets in light of…
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