Tag: Oil (Petroleum) and Gasoline

Trudeau Won the Election, but Hasn’t Won Over Western Canada

LONGVIEW, Alberta — Justin Trudeau is set to begin his second term as Canada’s prime minister, scheduled to unveil his new cabinet in Ottawa on Wednesday. Thousands of miles away, in the western Canadian province of Alberta, John Scott, a rancher, has a few words of advice for him. “Trudeau hates us but he’s going […]

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Five Killed as Political Violence Keeps Grip on Bolivia

EL ALTO, Bolivia — At least five people were killed in clashes outside a major fuel depot in Bolivia that had been blockaded for days by supporters of the ousted president, Evo Morales, as the political violence that has rocked the country for weeks inched closer to its seat of power. A New York Times […]

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Iran’s Supreme Leader Condemns Protesters as ‘Thugs’

TEHRAN, Iran — The supreme leader of Iran, Ayatollah Ali Khamenei, on Sunday called angry protesters who have been setting fire to public property over an increase in gas prices “thugs,” signaling a potential crackdown on the demonstrations. Ayatollah Khamenei backed the government’s decision to raise the government-set prices for gasoline by 50 percent as […]

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Saudi Aramco Sees Itself as a $1.7 Trillion Company

Saudi Aramco, the world’s largest oil company, offered more details on the enormous share offering it is planning for December, setting an overall market value of the company of as much as $1.7 trillion, a figure short of the $2 trillion initially estimated by Crown Prince Mohammed bin Salman. Still, the company could raise close […]

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Protests Erupt in Iran as Fuel Prices Are Abruptly Raised

The authorities in Iran abruptly raised gasoline prices as much as 300 percent early Friday and imposed a strict rationing system, some of the most severe steps taken to manage an economic crisis caused in part by American sanctions. Within hours, protests erupted in Tehran and other cities. An announcement carried on state-run television described […]

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Iran Finds Oil Field With Over 50 Billion Barrels, Rouhani Says

TEHRAN, Iran — Iran has discovered an oil field in the country’s south with more than 50 billion barrels of crude oil, its president said on Sunday, a development that could bolster the nation’s proven reserves by a third as it struggles to sell energy abroad. The announcement by President Hassan Rouhani comes as Iran […]

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Saudi Aramco Offers Some Details on Coming Stock Offering

Saudi Aramco, the world’s largest oil company, took another step on its lengthy path to a stock market listing on Saturday, saying that it would announce a price for its shares on Dec. 5, with trading expected to start in mid-December. The company announced last week that it planned to list on the local Saudi […]

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Is Aramco Worth $2 Trillion? And Other Crucial I.P.O. Questions

LONDON — Saudi Aramco is undoubtedly huge and very profitable. But what’s the company worth? That question was one of many left unanswered Sunday when the company, the world’s dominant oil producer, announced it would sell a stake to investors. Just about everything about the initial public offering remains to be determined in the coming […]

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Flood of Oil Is Coming, Complicating Efforts to Fight Global Warming

HOUSTON — A surge of oil production is coming, whether the world needs it or not. The flood of crude will arrive even as concerns about climate change are growing and worldwide oil demand is slowing. And it is not coming from the usual producers, but from Brazil, Canada, Norway and Guyana — countries that […]

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Saudi Aramco I.P.O. Is Announced

LONDON — Saudi Arabia said on Sunday that it had approved plans for the giant state-owned oil producer, Saudi Aramco, to go public, taking the country’s crown jewel and what is probably the world’s most profitable enterprise close to its long-awaited goal: becoming a publicly traded company. The country’s Capital Market Authority said that Aramco […]

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U.K. Halts Fracking in England, Citing Quake Concerns

LONDON — Prime Minister Boris Johnson once hailed fracking as “glorious news for humanity,” and said the British government should “leave no stone unturned, or unfracked.” But in a major U-turn, Mr. Johnson’s government announced on Saturday that it would temporarily halt fracking in the only active site in Britain, in northwestern England. The move […]

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Rachel Maddow Takes on the Oil Industry

BLOWOUTCorrupted Democracy, Rogue State Russia, and the Richest, Most Destructive Industry on EarthBy Rachel Maddow For those who have watched Rachel Maddow’s television show, the opening scene of her book will feel familiar in its eye for a compelling anecdote. She tells the 2003 story of a small new business in Manhattan’s Chelsea neighborhood that […]

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Aramco’s I.P.O. Will Be Less Gigantic Than Promised

When Mohammed bin Salman announced in 2016 that he would list one of his country’s crown jewels — the state-owned oil giant Saudi Aramco — on the stock market, he set some audacious goals. Aramco would be valued at about $2 trillion, easily making it the world’s biggest publicly traded company. Even though the stock […]

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New Mexico’s ‘Little Texas’ Booms, Igniting Battles Over Oil Windfall

LOCO HILLS, N.M. — At the diner she manages in the heart of New Mexico’s oil country, Joni Moorhead talks to roughnecks all day long about potholed roads, cramped lodging camps, soaring rents — and state politics. “I’d load up my guns for the fighting if we could just secede and join Texas,” said Ms. […]

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‘Keep the Oil’: Trump Revives Charged Slogan for New Syria Troop Mission

WASHINGTON — President Trump has offered several justifications for an American withdrawal from Syria. He has dismissed the country as nothing but “sand and death,” discounted its American-backed Kurdish fighters as “no angels,” and argued that he is winding down “endless wars.” But in recent days, Mr. Trump has settled on Syria’s oil reserves as […]

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Earthquakes Are Jolting the Netherlands. Gas Drilling Is to Blame.

GRONINGEN, the Netherlands — Driving through fields of low-lying Dutch farmland you pass an occasional odd cluster of silvery pipes and tanks. They are the only visible sign that deep below this northeast corner of the Netherlands is one of the world’s largest natural gas fields. Unless you stop by one of the nearby farmhouses […]

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Decades-Old Government Loophole Gives Oil Companies an $18 Billion Windfall

The United States government has lost billions of dollars of oil and gas revenue to fossil-fuel companies because of a loophole in a decades-old law, a federal watchdog agency said Thursday, offering the first detailed accounting of the consequences of a misstep by lawmakers that is expected to continue costing taxpayers for decades to come. […]

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Fossil Fuels on Trial: New York’s Lawsuit Against Exxon Begins

After four years of legal sparring and finger-pointing, oil-industry giant Exxon Mobil will go to court on Tuesday to face charges that the company lied to shareholders and to the public about the costs and consequences of climate change. The case turns on the claim that Exxon kept a secret set of financial books that […]

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Did Exxon Deceive Its Investors on Climate Change?

The New York attorney general’s office will take its case against Exxon Mobil to trial on Tuesday, arguing that one of the world’s largest oil and gas companies misled its shareholders and the public by misrepresenting the risks that climate change poses to the value of its oil and gas assets. The lawsuit is one […]

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Court Blocks Trump’s Plan to Ease Bird Protections on Oil Lands

Want climate news in your inbox? Sign up here for Climate Fwd:, our email newsletter. WASHINGTON — A federal judge on Wednesday blocked the Trump administration’s plan to ease protections for an iconic bird that makes its home on millions of acres of oil and gas-rich sagebrush lands, dealing a blow to government efforts to […]

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Despite Their Promises, Giant Energy Companies Burn Away Vast Amounts of Natural Gas

Want climate news in your inbox? Sign up here for Climate Fwd:, our email newsletter. When leaders from Exxon Mobil and BP gathered last month with other fossil-fuel executives to declare they were serious about climate change, they cited progress in curbing an energy-wasting practice called flaring — the intentional burning of natural gas as […]

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Deal Struck in Ecuador to Cancel Austerity Package and End Protests

QUITO, Ecuador — The government of Ecuador and Indigenous leaders struck a deal late Sunday to cancel an economic austerity package that had ignited 11 days of protests that paralyzed the country and left at least seven people dead and more than 1,000 injured. The agreement concluded a weekend of violence that included fires in […]

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