Latest Energy industry News

In this April 29, 2020 photo, Venezuelan shipping magnate Wilmer Ruperti smokes a cigarette during an interview in Caracas, Venezuela. As a result of U.S. sanctions on Venezuela, a high-stakes legal fight in U.S. federal court is pitting Ruperti against Greek shipping magnate Evangelos Marinakis, in connection with oil tanker Alkimos carrying high octane gasoline estimated to be worth millions. (AP Photo/Scott Smith)

Venezuela sanctions set off fight for 'plundered' oil cargo

Jul. 3, 2020 5:33 PM EDT

MIAMI (AP) — For two months, the Malta-flagged oil tanker Alkimos has been quietly floating off the Gulf Coast of Texas, undisturbed by the high-stakes legal fight playing out in a federal courtroom as a result of American sanctions on Venezuela. The commercial dispute, which hasn’t been previously...

A man looks at an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, July 3, 2020. Markets advanced in Asia on Friday following a Wall Street rally driven by strong jobs data. (AP Photo/Eugene Hoshiko)

World stocks mostly dip with US closed for holiday

Jul. 3, 2020 12:47 PM EDT

World stock markets fell slightly in Europe on Friday after gains in Asia, with trading somewhat subdued by a long holiday weekend in the U.S. With Wall Street remaining closed in observance of Independence Day, Germany's DAX edged 0.6% lower to 12,528.18. The CAC 40 in Paris dropped 0.8% to 5,007.14, while...

The controversial most modern Uniper Datteln 4 coal-powered plant steams behind a corn field one month after the operational start in Datteln, Germany, Friday, July 3, 2020. The state governors Dietmar Woidke of Brandenburg, Michael Kretschmer of Saxony, Reiner Haseloff of Saxony-Anhalt and Armin Laschet of North Rhine-Westphalia meet in Berlin for the adoption by the Bundestag and Bundesrat of the laws on coal phase-out and structural strengthening in the affected federal states. (AP Photo/Martin Meissner)

Germany is first major economy to phase out coal and nuclear

Jul. 3, 2020 11:53 AM EDT

BERLIN (AP) — German lawmakers have finalized the country's long-awaited phase-out of coal as an energy source, backing a plan that environmental groups say isn't ambitious enough and free marketeers criticize as a waste of taxpayers' money. Bills approved by both houses of parliament Friday envision...

UN agency: North Europe radiation likely linked to reactor

Jul. 3, 2020 6:28 AM EDT

BERLIN (AP) — The U.N. nuclear agency said Friday that slightly elevated levels of radioactivity detected in northern Europe likely were related to a nuclear reactor that was either operating or undergoing maintenance, but it's still unclear where it is located. Estonia, Finland and Sweden last week...

A man looks at an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, July 3, 2020. Markets advanced in Asia on Friday following a Wall Street rally driven by strong jobs data. (AP Photo/Eugene Hoshiko)

Asian shares advance following upbeat US jobs report

Jul. 2, 2020 11:27 PM EDT

Markets advanced in Asia on Friday following a Wall Street rally driven by strong jobs data. Tokyo's Nikkei 225 index picked up 0.3% to 22,220.33, while the Shanghai Composite index jumped 1.3% to 3,130.62. In South Korea, the Kospi gained 0.6% to 2,148.24, and Australia's S&P/ASX 200 rose 0.6% to 6,067.30....

Vehicles wait in line to fill up with fuel at a gas station in Caracas, Venezuela, Tuesday, June 2, 2020. Starting June, Venezuelans pay international market fuel prices, with limited access to subsidized gasoline each month, marking a historic break in the country's practice of having the world's cheapest fuel. (AP Photo/Matias Delacroix)

US tries to seize Iranian gas heading toward Venezuela

Jul. 2, 2020 8:26 PM EDT

MIAMI (AP) — U.S. federal prosecutors are seeking to seize four tankers sailing toward Venezuela with gasoline supplied by Iran, the latest attempt to disrupt ever-closer trade ties between the two heavily sanctioned anti-American allies. The civil-forfeiture complaint filed late Wednesday in the District...

FILE - In this Nov. 15, 2018, aerial file photo, rubble remains after residences were leveled by the Camp wildfire in Paradise, Calif. California's chief utility regulators and a Pacific Gas & Electric executive testified Thursday, June 4, 2020, that the utility is behind on installing devices meant to ease the severity of power shut-offs during potential wildfires and hasn't yet hired and trained emergency response specialists in each county. PG&E's electrical grid that ignited a succession of Northern California wildfires. (AP Photo/Noah Berger, File)

PG&E exits bankruptcy, pays $5 billion into wildfire fund

Jul. 2, 2020 8:16 PM EDT

SAN FRANCISCO (AP) — Pacific Gas & Electric has emerged from a contentious bankruptcy saga that began after its long-neglected electrical grid ignited wildfires in California that killed more than 100 people. The nation's largest utility announced Wednesday it emerged from Chapter 11 bankruptcy and...

Canada high court dismisses Indigenous appeal of pipeline

Jul. 2, 2020 7:35 PM EDT

TORONTO (AP) — The Supreme Court of Canada on Thursday dismissed an appeal from British Columbia First Nations against the Trans Mountain pipeline expansion that would nearly triple the flow of oil from the Alberta oil sands to the Pacific Coast The court dismissed the appeal from the Squamish Nation,...

This photo released Thursday, July 2, 2020, by the Atomic Energy Organization of Iran, shows a building after it was damaged by a fire, at the Natanz uranium enrichment facility some 200 miles (322 kilometers) south of the capital Tehran, Iran. A fire burned the building above Iran's underground Natanz nuclear enrichment facility, though officials say it did not affect its centrifuge operation or cause any release of radiation. The Atomic Energy Organization of Iran sought to downplay the fire Thursday, calling it an

Analysts: Fire at Iran nuclear site hit centrifuge facility

Jul. 2, 2020 4:29 PM EDT

DUBAI, United Arab Emirates (AP) — A fire and an explosion struck a centrifuge production plant above Iran's underground Natanz nuclear enrichment facility early Thursday, analysts said, one of the most-tightly guarded sites in all of the Islamic Republic after earlier acts of sabotage there. The Atomic...

Workers salvage oil canisters from the wreckage of a vehicle oil store hit by Saudi-led airstrikes in Sanaa, Yemen, Thursday, July 2, 2020. (AP Photo/Hani Mohammed)

Saudi-led coalition launches new strikes on Yemeni capital

Jul. 2, 2020 3:04 PM EDT

CAIRO (AP) — The Saudi-led coalition fighting Iran-backed rebels in Yemen said Thursday that it unleashed a new air campaign on the war-torn country's capital and on other provinces, in retaliation for drone attacks on Saudi Arabia that were claimed by the rebels. “The targeting of civilians and...