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petroleum

Fuel supply fears after blaze tears through crucial Australian refinery

Fuel supply fears after blaze tears through crucial Australian refinery

Columns of fire engulfed a crucial Australian oil refinery after a chain of explosions, authorities said Thursday, as they warned of disruptions to domestic fuel supply. Flames as high as 60 metres (200 feet) erupted late Wednesday after a gas leak ignited at the Viva fuel plant in Victoria state,

Mexican farmers raise alarm over Sheinbaum's fracking proposal

Mexican farmers raise alarm over Sheinbaum's fracking proposal

Over the two decades since fracking started near their lands, farmers in the Mexican state of Veracruz have watched their orange and lime trees wilt away. Now they're joining scientific experts to denounce Mexican President Claudia Sheinbaum's proposal to expand fracking. The president presented experts in

Stocks rise, oil prices retreat on hopes for Mideast peace deal

Stocks rise, oil prices retreat on hopes for Mideast peace deal

Stock markets climbed and oil prices tumbled Tuesday on rekindled hopes for a deal to end the Middle East war and reopen the Strait of Hormuz. Wall Street's main indices climbed, with both the S&P 500 and the Nasdaq now back at levels from before the

U.S. considers gas tax holiday as Canada moves ahead

(The Center Square) – Americans could soon pay more at the pump as the U.S.-Iran conflict disrupts oil markets, while lawmakers debate suspending the federal gas tax, a move Canada has just taken. Similar plans have been discussed in the U.S., but have yet to advance. In early

US blockade of Iran ports threatens already crippled oil supply

US blockade of Iran ports threatens already crippled oil supply

Washington's decision to blockade Iranian ports in the Strait of Hormuz is sending tremors through global energy markets, raising fears of a fresh oil shock by threatening supplies to Asia. Iran had continued to pump crude to Asia since the start of the Middle East war, partly shielded

Mideast war revs up electric car demand in Asia

Mideast war revs up electric car demand in Asia

Electric vehicle sales have jumped in Southeast Asia as cost-conscious buyers have poured into dealerships looking to dodge the fuel price spikes driven by the Middle East war. Asian nations have been particularly hard hit due to a sharp fall in the crude shipments they rely on -- and have

Venezuela, Chevron strike deals to expand oil operations in key region

Venezuela, Chevron strike deals to expand oil operations in key region

US oil giant Chevron and the government of Venezuela signed two deals Monday that will expand oil production in the country, as the country seeks to boost private investment in the sector. A signing ceremony took place at Miraflores Palace, where interim president Delcy Rodriguez was joined by Chevron Venezuela