BEIJING/ SINGAPORE, July 29- Any attempt by Iran to sell to China millions of barrels of ultra light crude built up in tankers over the last 2-1/ 2 years of sanctions is likely to be thwarted by poor refining margins and an outage at a major importer of the oil. Traders and company officials say Iran has little choice but to target China to buy the crude known as...» Read More
A deadly ice storm in the U.S. heartland triggered power outages that paralyzed parts of the most important U.S. oil hub, threatening supplies to the region's oil refineries.
General Motors Corp has had talks with Russia's GAZ about a possible tie-up that would give the No. 1 U.S. automaker more production capacity in the booming Russian market, GM Chief Executive Rick Wagoner said Monday.
Forty nations held unprecedented talks about ways to slow global warming without derailing world economic growth on the margins of U.N. climate talks in Bali on Monday.
Senate Democrats searched for a compromise on energy legislation as Republican leaders made clear they will oppose oil industry taxes and a mandate for utilities to use more wind and solar-generated electricity.
The House of Representatives Thursday passed an energy bill that would boost vehicle fuel economy requirements by 40 percent by 2020, raise ethanol use by five-fold by 2022 and impose $13 billion in new taxes on big oil and gas companies.
Australia cut its official forecast for 2007/08 total commodity export income on Thursday, citing the effects of the worst drought in a century on farming exports as well as a strong Australian dollar.
Faced with melting polar ice caps and worsening droughts, climate experts at a massive U.N. conference Monday urged quick action toward a new international pact stemming an increasingly destructive rise in world temperatures.
OPEC oil output fell short of the agreed level in November as field maintenance in the United Arab Emirates blunted the impact of a deal to raise supply, a Reuters survey found on Monday.
About 190 nations met on Monday under pressure to sharpen the fight against climate change by involving outsiders such as the United States to China in a long-term U.N.-led pact.
Australia's Labor leader Kevin Rudd was sworn in as prime minister on Monday, promising to urgently sign the Kyoto Protocol on climate change. But Rudd said that the country was likely to miss its Kyoto target for reducing greenhouse gas emissions by 2012.
A constitutional referendum in Venezuela on Sunday is expected to significantly consolidate the power of President Hugo Chavez -- paving the way for a lifetime presidency and possibly an era of strong-man socialism -- but is not expected to fundamentally alter economic relations with the U.S., which are dominated by oil trade, analysts said Friday.
Multinational energy companies are looking at opportunities in Turkmenistan, a country of five million people that borders the Caspian Sea and sits on the world’s fourth or fifth largest reserves of natural gas.
U.S. retailers may be touting their environmental-friendliness this year, but just about the only "green" in evidence for the holidays is in the usual Christmas decorations.
Nuclear power is making a comeback in the US as the high cost of fossil fuels and concern about global warming make uranium-based generation a more attractive option, but the industry still faces regulatory and financial hurdles as well as lingering doubts about safety.
Top Gulf OPEC officials expressed alarm on Wednesday at oil prices threatening to top $100, but reiterated that markets were well supplied and steered clear of saying whether OPEC would raise output next week.
U.S. emissions of the gases blamed for global warming fell 1.5 percent in 2006 on mild weather and increased use of natural gas to generate power and alternative energy, the government estimated on Wednesday.
Saudi Oil Minister Ali al-Naimi on Tuesday gave no sign whether OPEC would agree this year's second output rise when it meets next week, but confirmed that the kingdom had boosted production to 9 million barrels per day (bpd).
Analysts sharply raised their average forecasts for oil prices next year to a record near $74 a barrel on expectations for a cold winter season, a weakening dollar and an influx of fund money, a Reuters poll showed on Monday.
US crude has been flirting with the $100-a barrel milestone for the past month. It got the market excited on Wednesday, when it briefly surged to a lifetime high of $99.29 a barrel, before settling lower. The market clearly wants to hit the benchmark – and will try again next week.
French President Nicolas Sarkozy visits China next week, hoping to capture billions of dollars in energy and aviation deals while taking a tough stand on global currency turmoil.