UN – Oil & Gas 360

Fossil fuel production ‘dangerously out of sync’ with global climate targets, UN warns

October 20, 2021

CNBC LONDON — As world leaders prepare for one of the most important climate summits ever held, U.N.-backed research shows governments are collectively planning to extract far more fossil fuels than would be consistent with global climate targets. The United Nations Environment Programme’s annual production gap report, published on Wednesday, found governments were on track to produce more than twice the levels

Trump administration begins formal US withdrawal from Paris climate agreement

November 5, 2019

Los Angeles Times The Trump administration gave official notice Monday that it will pull the United States out of the Paris climate accord, a long anticipated move and a significant step in America’s retreat as an environmental leader. Despite the president’s repeated claims to have already left the agreement, the U.S. is still very much a part of it. Under

Iranian Tanker Sought by US Heading Toward Greece

August 19, 2019

From The Houston Chronicle An Iranian supertanker with $130 million worth of light crude oil that the U.S. suspects is tied to a sanctioned organization left Gibraltar and was heading east into the Mediterranean Sea on Monday, with its next destination reported to be Greece. The Iran-flagged Adrian Darya 1, previously named Grace 1, set course for Kalamata, Greece, with

Citgo Gets U.S. Subpoena Related to Venezuela Bribery Probe - Oil & Gas 360

Venezuela Faces the Loss of Citgo – and Desperately Needed Dollars

July 31, 2019

From The Houston Chronicle Venezuela could lose its largest U.S. asset after a court allowed a Canadian gold miner to seize shares of Citgo Petroleum Corp.’s parent to satisfy an arbitration award. A U.S. appeals court ruled on Monday that Crystallex International Corp. may seize U.S.-based stock of Citgo’s parent, which is part of Venezuela’s state-owned oil company, to cover

Flags of Inconvenience: Noose Tightens Around Iranian Shipping

July 26, 2019

From Reuters Somewhere on its journey from the waters off Iran, around Africa’s southern tip and into the Mediterranean, the Grace 1 oil tanker lost the flag under which it sailed and ceased to be registered to Panama. Iran later claimed it as its own. The ship carrying 2 million barrels of Iranian crude was seized by British Royal Marines

‘Floating Bomb’: Decaying Oil Tanker Near Yemen Coast Could Soon Explode, Experts Warn

July 24, 2019

From CNBC An abandoned and decaying oil tanker near the coast of war-torn Yemen could soon rupture or explode, the United Nations (UN) has warned, potentially triggering one of the world’s largest oil spills. The deserted Safer FSO tanker, which is believed to contain approximately 1.14 million barrels of oil, has been anchored and left without maintenance off the Yemeni

EU’s Early Ratification of Paris Climate Agreement Upends Trump Plan to “Cancel It”

October 5, 2016

President Trump likely would ignore it, President Clinton would champion it The European Union approved a fast-track ratification of the Paris climate change agreement yesterday, less than a year after it was signed in Paris, upending a Donald Trump promise to cancel the agreement if elected president. In September, in a ceremony in Hangzhou, China, the UN Secretary General received the

How’s it Going at COP21?

December 8, 2015

Canada shocks COP21 silly Canada surprised attendees and negotiators at the climate talks in Paris on Sunday by calling for a more ambitious target for cutting greenhouse gases than the UN’s own 2-degree target, the National Observer reported. “Canada’s Environment and Climate Change Minister Catherine McKenna told a stunned crowd that she wants the Paris agreement to restrict planetary warming

Premium Content