Oil

On Thursday afternoon, an oil spill into the St. Mary’s River at the Ontario, Canada-Michigan border halted boat traffic between Lake Superior and Lake Huron for about three hours. This spill is small, relative to the massive incidents that usually make the news. Spills of this scale rarely make headlines, and that’s a problem: Small events are the large majority of oil spills, and together theyhave a big impact.5,300 gallons of oil originating from Algoma Steel fell into the river at around 10:30 am, according to a…

Fast News Italian oil giant’s vessel is scheduled to load at PDVSA’s Jose port in the coming days according to the Venezuelan state oil company’s document. The logo of Italian energy company Eni is seen at a gas station in Rome, Italy September 30, 2018.…

CLIMATEWIRE | Climate liability lawsuits from state and local governments against fossil fuel companies could be headed to the Supreme Court for a second time. Suncor Energy Inc. and Exxon Mobil Corp. yesterday petitioned the justices to review a lower court decision that delivered a procedural victory to Colorado governments suing fossil fuel companies for climate damages (Climatewire, Feb. 9). The February finding by the 10th U.S. Circuit Court of Appeals that the case should be heard by a state judge — rather than a…

WASHINGTON—The U.S. and its allies are searching for ways to limit further surges in global oil prices, attempting to balance efforts to cut off Russia’s revenue from its energy sales while shielding the global economy from a possible recession.Treasury Secretary Janet Yellen said this week that the U.S. was involved in “extremely active” talks with European allies about efforts to form a buyers’ cartel and set a cap on the price of Russian oil. A goal in the talks is to keep Russian oil…

Shell Plc will receive two final bids for its stake in its Nigerian joint venture this week from Tony Elumelu’s Heirs Holdings and local firm ND Western Limited, Bloomberg reported Wednesday, citing people close to the heart of the matter. The two are scrambling to procure Shell’s three-tenths holding in the JV located in the crude-rich Niger Delta region and offshore fields neighbouring it. Shell will stop welcoming bids on Friday, according to the people who spoke on the condition that…

While we know where the plastics came from, the origin of this particular tar wasn’t clear. But generally speaking, whenever oil spills, it floats around and partially evaporates, thickening over time into tar balls, which then wash ashore. It’s basically super-toxic Play-Doh. “Once it gets stuck to the rock, the wave brings microplastics or any litter and pushes it into this Play-Doh,” says Hernández-Borges. “Microplastics arrive constantly, constantly, constantly. The microplastics that we're finding in the tar are the…

The first of 11 8.6 megawatt (MW) turbines has been installed at the world’s largest floating wind farm, off the Norwegian coast. Hywind Tampen is also Norway’s first offshore wind farm – and it will power offshore oil and gas platforms. World’s largest offshore floating wind farm Map: Equinor Four wind turbines have been fully assembled by Norwegian power giant Equinor, which is developing and will operate Hywind Tampen. It’s located around 140 km (87 miles) off the Norwegian coast in a water depth of between…

Oil prices are staying north of $100 a barrel. Natural gas prices are more than twice as high as a year ago. Europe is looking to replace the oil and gas it gets from Russia as bans and embargoes imposed because of the country’s invasion of Ukraine kick in. Sounds like a set-up for an energy boom in the U.S. and in Colorado, one of the country’s leading oil and gas producers. But don’t count your barrels of oil before they’re pumped. Oil and gas producers are not immune from the supply-chain disruptions and labor…

In a bid to go green, Public sector Oil Marketing Companies (OMCs) of Tamil Nadu will be setting up 900 e-charging stations in the state with Indian Oil Corporation, Hindustan Petroleum Corporation, and Bharat Petroleum Corporation taking the lead. Indian Oil Corporation (IOC) has 133 e-charging stations in Tamil Nadu and is planning to install 400 more e-stations by the end of this financial year. Hindustan Petroleum Corporation (HPC) will be setting up 175 more e-charging stations from the 79 it has now. Bharat…

CNBC's Jim Cramer on Monday said the only stocks investors should be buying the dip on are oil names."I want to be kind to this market and tell you it's the same old buy the dips game plan. But in reality, the only dip that can be bought right now, at least, is the dip in oil. Everything else is, as they now say in a damning way, transactional and nothing more," the "Mad Money" host said.Cramer said that there have been several stock disappointments in the market recently that made him wary of non-oil names. He noted that…