Latest Energy industry News

Raging fire consumes 4th tank at Cuba oil storage facility

Aug. 09, 2022 13:33 PM EDT

HAVANA (AP) — Flames engulfed a fourth tank at an oil storage facility in western Cuba on Tuesday as the raging fire consumes critical fuel supplies on an island grappling with a growing energy crisis. Firefighters and specialists from Mexico and Venezuela helped fight the blaze in...

Learning from failures: How Biden scored win on climate plan

Aug. 09, 2022 13:02 PM EDT

WASHINGTON (AP) — Over the last year, President Joe Biden watched pieces of his domestic agenda get thrown overboard in an effort to keep it afloat. Free community college, child care funding, expanded preschool — all left behind. But there was at least one critical piece that...

Large explosions rock Russian military air base in Crimea

Aug. 09, 2022 12:59 PM EDT

KYIV, Ukraine (AP) — Powerful explosions rocked a Russian air base in Crimea and sent towering clouds of smoke over the landscape Tuesday in what may mark an escalation of the war in Ukraine. At least one person was killed and several others were wounded, authorities said. ...

'The Sacrifice Zone': Myanmar bears cost of green energy

Aug. 09, 2022 12:49 PM EDT

The birds no longer sing, and the herbs no longer grow. The fish no longer swim in rivers that have turned a murky brown. The animals do not roam, and the cows are sometimes found dead. The people in this northern Myanmar forest have lost a way of life that goes back generations. But...

Warren Buffett's company has bet over $45B on the oil sector

Aug. 09, 2022 11:36 AM EDT

OMAHA, Neb. (AP) — Warren Buffett's company has bought up more than $11 billion worth of Occidental Petroleum stock this year, giving Berkshire Hathaway control of more than 20% of the oil producer. Occidental's stock jumped nearly 5% Tuesday to trade for $62.89 after Buffett...

Russia curtails oil shipments to central Europe

Aug. 09, 2022 12:01 PM EDT

Several countries in Europe dependent on Russian energy suffered another blow with confirmation Tuesday that oil shipments have stopped through a critical pipeline. Russian state pipeline operator Transneft said it halted shipments through the southern branch of the Druzhba oil...

Abrams calls for using budget surplus to invest in Georgians

Aug. 09, 2022 11:27 AM EDT

DECATUR, Ga. (AP) — Democratic gubernatorial candidate Stacey Abrams is arguing that it's time for Georgia to use its budget surplus to invest in its residents, accusing Gov. Brian Kemp and other Republicans of hurting the state by prioritizing low taxes and low spending. With the...

India's parliament passes energy conservation bill

Aug. 09, 2022 11:13 AM EDT

BENGALURU, India (AP) — On the heels of finalizing its updated climate targets, the Indian government took another step toward their climate goals by passing amendments to a 21-year-old energy conservation bill, which makes it easier to put a price on carbon emissions and encourages the use of...

Turkey sends off new drill ship into eastern Mediterranean

Aug. 09, 2022 09:48 AM EDT

ISTANBUL (AP) — Turkey’s president inaugurated the country's newest and largest undersea hydrocarbon drill ship Tuesday that he said would head for a spot northwest of Cyprus in the eastern Mediterranean, which is not claimed by any other country. “Our exploration and drilling...

Billions pour into bioplastics as markets begin ramping up

Aug. 09, 2022 08:04 AM EDT

CLEVELAND (AP) — In a world increasingly troubled by the persistent harm that plastic — manufactured in petrochemical plants — has had on the environment, companies are investing billions of dollars to ramp up production of plastics made from natural, renewable materials that can be safely...