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petroleum

Money, lobbyists, inertia: why fossil fuels are so hard to quit

Money, lobbyists, inertia: why fossil fuels are so hard to quit

When the international community agreed to transition away from fossil fuels at the 2023 COP28 global climate summit, some hailed the moment as the beginning of the end for oil. But little progress has been made since then, even though the vast majority of scientists agree there's overwhelming

Zelensky slams oil sanctions relief for Russia

Zelensky slams oil sanctions relief for Russia

Ukrainian President Volodymyr Zelensky on Sunday condemned the easing of sanctions on Russian oil after the United States extended a waiver meant to soften surging energy prices driven by the Middle East war. "Every dollar paid for Russian oil is money for the war" and the billions of

Oil plunges, stocks jump as Iran declares Hormuz open

Oil plunges, stocks jump as Iran declares Hormuz open

Oil prices tumbled Friday after Iranian officials said they would allow commercial traffic to resume in the Strait of Hormuz, lifting equity markets in Europe and New York, where major indices hit new records. Citing the ceasefire between Israel and Lebanon, Iran's Foreign Minister Abbas Araghchi said Tehran

Stocks rise as optimism over Mideast war takes hold

Stocks rise as optimism over Mideast war takes hold

Wall Street stocks climbed higher Thursday, adding to records as investors greeted optimistic comments from US President Donald Trump about negotiations with Iran while shrugging off a jump in crude prices. After veering between gains and losses much of the day, all three major US indices finished in the black.

Commodities exports through Strait of Hormuz collapse, except for Iran

Commodities exports through Strait of Hormuz collapse, except for Iran

Iran was the top exporter of commodities through the Strait of Hormuz in March, as shipments from other countries fell off a cliff with Tehran's blockade of the vital waterway, data by analytics firm Kpler showed. Iran is usually the fifth largest exporter of commodities -- goods such as

Repsol taking back control of Venezuelan oil assets

Repsol taking back control of Venezuelan oil assets

Spanish energy group Repsol said on Thursday it has reached an agreement with the Venezuelan government to regain control of its oil business in the country and sharply increase production over the coming years. Repsol’s operations in Venezuela have been sharply limited since 2025 after Washington unilaterally revoked its

TotalEnergies says was able to maintain production despite war

TotalEnergies says was able to maintain production despite war

French oil and gas giant TotalEnergies said Thursday its production in the first quarter of the year was expected to have remained stable despite the Middle East war hitting its output in the region. The war triggered by US and Israeli bombing of Iran at the end of February sent