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He will replace Dawn Farrell, who recently was appointed as Trans Mountain’s board chair, effective Sept. 1 Bloomberg News Trans Mountain Corp., the government-owned company operating Canada’s newest major oil pipeline, named Chief Financial and Strategy Officer Mark Maki as its next chief executive as it prepares for a sale to private owners. Maki will replace …
Trans Mountain Names Maki New CEO Before Government Sale Read More »
(Reuters) – Morgan Stanley has lowered its global oil demand growth forecast for 2024, mainly due to China’s slower economic growth, increased electric vehicle usage there, and a rise in the number of trucks in China powered by liquefied natural gas (LNG). The bank cut its global oil demand growth forecast for this year to …
Morgan Stanley Cuts 2024 Oil Demand Growth Outlook on China Factors Read More »
(Reuters) – The union representing over 9,000 Canadian rail workers vowed on Friday to challenge the federal government’s effort to mandate binding arbitration that would end an unprecedented rail stoppage at both of the country’s main freight rail carriers. The Teamsters union also filed notice to strike on Monday at Canadian National Railway, Canada’s largest …
Union Vows to Fight Canada’s Move to End Rail Shutdown, Sparking Uncertainty Read More »
LONDON, Aug 22 (Reuters) – In the next few weeks, Saudi Arabia and its OPEC⁺ allies must take a delicate decision about whether to proceed with planned production increases from October, or postpone them because of an uncertain economic outlook. The recent slides in front-month Brent futures prices, calendar spreads and refinery margins, amid concerns …
OPEC⁺ Faces Moment of Truth on Planned Output Increase: Kemp Read More »
(Reuters) For the first time, Canada’s two main railway companies – Canadian National Railway and Canadian Pacific Kansas City – are seeing a simultaneous labor stoppage that could inflict billions of dollars’ worth of economic damage. WHY HAVE OPERATIONS AT BOTH COMPANIES STOPPED? Contract talks between the Teamsters union and the companies usually take place …
Why Canada’s Railways Are Seeing an Unprecedented Labor Stoppage Read More »
Today, reporter Will Mathis examines the ongoing troubles facing the wind power industry. Just when things were starting to look up for wind power, new troubles are pulling it back down. In recent years, soaring inflation, supply-chain chaos and rapidly rising interest rates shocked turbine manufacturers and their customers, upending a business model that depended on cheap …
The Wind Power Industry Isn’t Over Its Gloom Loop Yet Read More »
(Reuters) – Over a hundred employees at Venezuela’s state oil company PDVSA, plus others in the oil ministry and parts of the public sector, have been forced to resign over their political views since last month’s disputed election, workers and unions said. The government says President Nicolas Maduro won a third term in the July 28 …
Dozens Forced to Quit Venezuela’s PDVSA Over Political Views, Workers Say Read More »
U.S. oilfield services firm Halliburton on Wednesday was hit by a cyberattack, according to a person familiar with the matter. Halliburton said it was aware of an issue affecting certain systems at the company and was working to determine the cause and impact of the problem. The company was also working with “leading external experts” …
Top U.S. Oilfield Firm Halliburton Hit by Cyberattack, Source Says Read More »
By Stine Jacobsen COPENHAGEN, Aug 21 (Reuters) – Denmark will delay by at least three more years construction of a planned North Sea energy island to supply renewable power to three million European households, a government minister said on Wednesday, citing rising costs and high interest rates. The projected investment exceeds 200 billion Danish crowns …
Denmark’s North Sea Energy Island Delayed Again by High Costs Read More »
By Colleen Howe BEIJING, Aug 21 (Reuters) – China, the world’s largest builder of coal-fired power stations, cut the number of permits for new plants by nearly 80% in the first half of 2024, an environmental group report finds, saying time would tell whether it was a turning point. The Greenpeace East Asia report, based …
China Has Cut New Coal Power Plant Permits by Nearly 80%, Greenpeace Says Read More »
