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Airline CEOs Warn EU Plan to Expand Carbon Costs Will Raise Fares

CDN and International News, Latest / By

By Kate Abnett and Joanna Plucinska EU eyes expanding carbon costs to outbound international flights Airlines oppose this, back U.N. carbon offset scheme instead EU sceptical offsets will drive emissions reductions Aviation’s climate impact set ​to increase without further action BRUSSELS/BERLIN, June 8 (Reuters) – Europe’s ‌biggest airlines have urged the European Union not to …

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Brace for a Flood of Oil as Soon as Hormuz Reopens

CDN and International News, Conventional Energy, Latest, Oil, Tri-Pinned / By

By Javier Blas When the day comes, the reopening of the Strait of Hormuz will be an extraordinary event: restarting about 10,000 oil wells, pumping roughly 15% of the world’s production, that had been shut down for a hundred days and counting. Nothing even remotely close has been attempted — ever. The oil industry doesn’t …

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Hormuz Strait Will be Open but With Transit fees, Iran Envoy to Moscow Quoted

CDN and International News, Conventional Energy, Latest, Oil / By

  The Strait of Hormuz will be open but under new conditions to be set by Iran and Oman, including a transit fee, Iran’s ambassador to Moscow was quoted as saying on Monday. The U.S.-Israeli war on Iran has largely cut oil flows via the strait, which before the conflict saw one-fifth of the world’s …

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Chinese Refiners Delay Projects with Middle East Oil Supply Disrupted

EnergyNow News and Press Releases, Latest / By

Summary HAPCO start-up pushed from mid-year to September or October, sources say PetroChina Dalian unit resumption postponed indefinitely China’s refining margins turn negative on high crude costs and fuel price caps India’s capacity expansion on track SINGAPORE, June 8 (Reuters) – Chinese refiners have delayed two projects slated to come ​online this year following disruptions …

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Norway Oil Companies, Unions Agree Wage Deal, Averting Strike

CDN and International News, Conventional Energy, Latest / By

(Reuters) – Norwegian oil companies have agreed to a wage deal with three ​labour unions, preventing any strike action that would have ‌disrupted output, negotiators for both sides said on Friday. Labour unions had said nearly 8% of Norwegian offshore oil and gas workers planned to strike if wage mediation ​failed, and the industry estimated that this …

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Oil Prices Climb Over 3% After Israeli Strikes on Iran and Lebanon

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary Israel strikes on Iran follow strikes on Beirut on Sunday Iran on Sunday retaliated with missile attacks on Israel Iran plans to collect Hormuz transit fees, ambassador quoted as saying Analysts say impact of ​OPEC+ output hike agreement is limited LONDON, June 8 (Reuters) – Oil prices rose more than 3% on Monday, ‌as …

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MAKING HAY IN MAY: Canada’s Oil and Gas Drillers ‘Making Money’ in Busiest May Since Boom-Era 2014

CDN and International News, Conventional Energy, Drilling Rigs, Energy Topics & Technology, Latest, Oil / By

‘Two months ago, if you said oil is going to be the low 80s, you’d pop the champagne,’ said Ensign Energy Services Inc. president Bob Geddes By This Article and More by Steven Wilhelm Here Original: financialpost.com/business/energy/canada-oil-gas-drillers-making-money-busiest-may-since-2014/wcm/6acce87b-0c18-4fbe-af44-ddf94508e35f   High oil prices are propelling a new rush for black gold across Western Canada, with drillers getting …

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Iran Rejects Idea of its Assets Being Used to Pay Damages to US Allies

CDN and International News, Latest, Natural Gas, Oil / By

Iran’s Deputy Foreign Minister Kazem Gharibabadi said on Sunday that regional governments were “not in a position to demand reparations”, responding to reports the U.S. could use Iranian assets to compensate regional allies for war-related damages. Gharibabadi added in a post on X that Iran’s assets were “neither war spoils for Washington nor a payment …

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Russia’s Sechin Says U.S. Companies Benefit From the Closure of the Strait of Hormuz

Conventional Energy, Latest, Oil, US News / By

  Rosneft Chief Executive Igor Sechin said on Saturday that U.S. energy companies were the main beneficiaries of the closure of the Strait of Hormuz and that Washington was trying to change the fundamental contours of the global energy markets to suit U.S. interests. Iran blockaded the Strait, the main route for about a fifth …

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