Tripoli-based Presidential Council appoints new board of directors, with banking operations suspended amid upheaval. Libya’s central bank Governor Sadiq al-Kabir says he and other senior employees of the institution have been forced to flee the country to escape threats from armed militia, the Financial Times reported. “Militias are threatening and…
The Sounion was on its way from Iraq to Athens when it was attacked by more than a dozen people in two small boats. A Greek-flagged oil tanker with 25 crew members on board has caught fire after multiple attacks and is adrift in the Red Sea. The Sounion was…
A Ukrainian incursion into Russia’s Kursk region – the largest since the war began with about 1,000 soldiers and more than two dozen tanks and other armoured vehicles storming over the border this week – poses a threat to a major gas supply line from Russia to the European Union….
“Life has been hard for years now. It’s true that food prices have come down recently, but they’re still so high,” says Rodrigo, a private security guard working in Caracas, Venezuela’s capital. He did not want to give his last name. Amid a decades-long economic crisis, Rodrigo thinks that “people…
Beryl made landfall near Texas town on Monday, posing problems for the heart of the US energy sector. The Texas energy industry was evaluating the impact from Hurricane Beryl after the powerful storm lashed the United States’ Gulf Coast, closing key shipping ports and hitting the oil refining and production…
Environmental Governance Institute says Stephen Kwikiriza in ‘poor condition’ after ‘severe beatings’ in detention. An activist with an environmental group campaigning to block a $5bn internationally financed oil pipeline running through Uganda has been released from detention, his employer says. The Environmental Governance Institute (EGI) said in a statement on…
Corpus Christi, Texas, US – “It’s a beautiful bay, and it was even more beautiful in the beginning,” says 72-year-old Encarnacion “Chon” Serna, a retired chemical engineer, as he describes Corpus Christi Bay, which lies just a few feet from his doorstep in Portland, Corpus Christi in Texas. It’s the…
With an economy so reliant on oil, Iraq has long faced a tough balancing act between the short-term gains that can come from ramping up production and the long-term problems that can arise from overproduction. Last week, the Iraqi oil ministry announced that it was rectifying a swing too far…
Revenues from Qatar’s LNG fields will provide budget surpluses until the 2030s, Fitch said. Fitch Ratings has upgraded Qatar to AA, its third-highest rating, on the back of revenues expected from its expanded gas fields, the agency has said. Revenues from Qatar’s liquified natural gas (LNG) fields will ensure that…
The International Energy Agency says shipping disruptions provide a short-term boost to the oil market with demand at 1.3 million barrels per day. Global oil demand is forecast to grow more than expected due to the rising fuel needs of ships rerouted away from the Red Sea amid attacks by…
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