Tag - oil

 
 

OIL

Awang Suang trims weeds from palm trees on his small plantation in Membakut, Malaysia on Feb. 12. He has been cultivating oil palms for more than 50 years after switching from rubber trees. Palms require less labor and produce more frequent harvests — roughly every two weeks, year round — providing a steadier income, he explained.
ENVIRONMENT / Sustainability
Mar 18, 2024
Can Europe save forests without killing jobs in Malaysia?
A new regulation aims to rid the palm oil supply chain of imports that come from former forestland.
This screen grab from a video purportedly shows an explosion at the Slavyansk oil refinery in Russia's Krasnodar region on Sunday.
WORLD
Mar 17, 2024
Ukraine drones attack refinery, target Moscow and disrupt power, Russia says
Moscow accuses Kyiv of election sabotage with its days of strikes on Russian infrastructure, one of the most sweeping air operations on Russian territory.
An image taken from video released by Roman Starovoit, governor of the Kursk region of Russia, last month purportedly shows firefighters working to extinguish flames at an oil depot after a Ukrainian drone strike.
WORLD / Politics
Mar 15, 2024
Ukraine, stalled on the battlefield, targets Russia’s oil industry
This year, Ukraine has claimed responsibility for nearly a dozen assaults on Russian oil infrastructure.
A flare burns at a gas plant near Orla, Texas. Production and use of fossil fuels put more than 120 million metric tons of methane into the atmosphere last year, a slight rise from 2022.
ENVIRONMENT / Energy
Mar 14, 2024
Methane emissions from energy sector rose in 2023 despite pledges
Production and use of fossil fuels put more than 120 million metric tons of methane into the atmosphere last year.
Philippine Coast Guard personnel film a China Coast Guard vessel during a supply mission in the disputed South China Sea on March 5.
BUSINESS
Mar 11, 2024
U.S. key to Philippines’ plan to tap oil and gas in South China Sea
Manila is seeking to parlay its deepening security ties with Washington into broader economic benefits, the Philippine ambassador to the U.S. said.
Then-U.S. President Donald Trump holds up a presidential permit for energy development that he signed during a tour of an oil rig in Midland, Texas, in July 2020.
COMMENTARY / World
Mar 1, 2024
How the planet could survive another Trump term
In his first term, Trump pulled the U.S. out of the 2015 Paris climate agreement, rolled back environmental regulations, unleashed gas drilling and more.
Vitol, the world's biggest trader, has increased its total equity to $26 billion even after paying $5 billion in record dividends after earning $15 billion in 2022.
BUSINESS / Markets
Feb 26, 2024
Top global energy traders face multibillion cash quandary
Most trading houses, which are privately owned and controlled by their employees, disclose little about their cash position, equity or dividends.
The Nautica, a replacement oil tanker for the decaying FSO Safer, arrives in the Red Sea port of Hodeidah, Yemen, in July last year.
BUSINESS
Feb 25, 2024
Shortage of oil tankers at hand as Red Sea attacks divert trade
Only two new supertankers join the fleet in 2024 — the fewest additions in almost four decades.
Fatih Birol, executive director of the IEA
ENVIRONMENT / Energy
Feb 21, 2024
How to reinvent yourself at 50: An IEA guide
It would be an understatement to say that the energy industry has gone through a lot of change.
Vitol, the world's largest independent oil trader, is considering opening an office in Tokyo to trade electricity, sources said.
BUSINESS / Companies
Feb 16, 2024
Vitol considers entering Japan power market with Tokyo office
Japan's power market is attracting more overseas firms due to increased volatility amid shifts away from fossil fuels
Local authorities say oil tanks at this storage facility caught fire after the military brought down a Ukrainian drone, in the town of Klintsy in the Bryansk Region, Russia, on Friday.
WORLD / Politics
Jan 23, 2024
Ukrainian drone attacks menace key Russian oil export route
Keeping Russia’s oil exports steady is crucial for the Kremlin, which receives approximately 30% of total budget revenues from the nation’s energy industry.
Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China, in October 2018.
BUSINESS
Jan 20, 2024
China defies sanctions to make Russia its biggest oil supplier in 2023
Russia shipped a record 107.02 million metric tons of crude oil to China last year, equivalent to 2.14 million barrels per day (bpd), the Chinese customs data showed.
A Tokyo Gas Co. storage tank at the company's Setagaya facility in Tokyo
ENVIRONMENT / Climate change
Jan 12, 2024
World trying to quit fossil fuels gets flood of gas instead
Formerly a sluggish sector, global events spurred LNG's expansion
A worker guides drilling pipes on the Gazprom PJSC Chayandinskoye oil, gas and condensate field in Russia's Sakha Republic.
WORLD / Politics
Jan 10, 2024
Russia’s oil drilling boom proves Moscow’s resilience to Western sanctions
In the first 11 months of 2023, Russia's drilling was on track to beat the post-Soviet record.
Seiichiro Nishioka, an outside director, apologizes at a news conference on Tuesday.
BUSINESS / Companies
Dec 19, 2023
Japan's Eneos dismisses president for hugging woman while drunk
The scandal is another blow to the firm, whose former CEO was forced to step down last year amid a report that he sexually harassed a hostess at a bar.
A climate activist arranges artwork expressing opposition to fossil fuels at Dubai's Expo City during the United Nations Climate Change Conference COP28 in Dubai on Dec. 12.
ENVIRONMENT / Climate change
Dec 19, 2023
COP28 deal on fossil fuels puts new focus on 'just transition'
From coal miners to offshore oil rig engineers, 32 million people who work in the fossil fuel industry face losing their livelihoods.
Michael Bloomberg, U.N. special envoy for climate ambition and solutions, speaks during a summit on methane and other greenhouse gases at COP28 in Dubai on Dec. 2.
COMMENTARY / World
Dec 18, 2023
What did COP28 achieve?
With pledges to cut methane, among other achievements, COP28 may have helped reduce the costs of decarbonization — an essential stepping stone.
A man walks past a pollution pod designed to mimic the air quality in New Delhi, during the COP28 summit in Dubai, on Dec 4.
ENVIRONMENT / Climate change
Dec 15, 2023
How the world agreed to move away from fossil fuels at COP28
This year's climate conference marked the first time in history countries expressed a unified desire to end the oil age.
A deal was reached at the eleventh hour of COP28 in Dubai on Wednesday, with countries committing to transition away from fossil fuels to meet climate goals.
COMMENTARY / World
Dec 14, 2023
It’s time to kick our addiction to fossil fuels
The COP28 deal is historic in that it calls for a transition away from fossil fuels for the first time, but it's too weak to tackle the climate emergency.
An undated file photo shows Diego Garcia, the largest island in the Chagos archipelago and site of a major United States military base in the middle of the Indian Ocean, leased from Britain in 1966.
ASIA PACIFIC / Politics
Dec 14, 2023
Indian Ocean could become China's Achilles' heel in war on Taiwan
A struggle to protect energy lifelines even as demands increase could make a protracted war over Taiwan difficult for Beijing to sustain.

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A statue of "Dragon Ball" character Goku stands outside the offices of Bandai Namco in Tokyo. The figure is now as recognizable as such characters as Mickey Mouse and Spider-Man.
Akira Toriyama's gift to the world