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Damage to Great Barrier Reef costs ship owner $30 million

Great Barrier Reef, Australia

CANBERRA, Australia (AP) — The Australian government reached a 39.3 million Australian dollar ($29.6 million) settlement with the owners of a Chinese coal carrier to pay for environmental damage caused when the ship ran aground on the Great Barrier Reef six years ago, the environment minister said Monday. The government had sued Shenzhen Energy Transport for at least AU$120 million ...

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Oil prices hit by downward revision to global oil demand

global oil production

LONDON (AP) — Oil prices took a pounding Tuesday after a leading industry group said global oil demand growth is slowing by more than previously thought, largely because of a more pronounced economic slowdown during the third quarter of the year. In its September oil market report, the Paris-based International Energy Agency reduced its forecast for global demand growth to ...

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Libyan general seizes key oil terminals from militia

Libya state flag. (Image: Nicolas Raymond via Flickr)

BENGHAZI, Libya (AP) — Libyan forces loyal to a powerful general say they have seized a third oil terminal from a rival militia in the east, giving the divisive leader a bargaining chip in negotiations with rival U.N.-backed authorities in the capital, Tripoli. Forces led by Gen. Khalifa Hifter said late Sunday that they had seized the Zueitina terminal from ...

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Oil minister: Iran backs OPEC moves geared toward stability

OPEC, Iran

TEHRAN, Iran (AP) — Iran’s oil minister says his country would support any decision by the oil producing group of nations that seeks to stabilize the oil market, Iranian state TV reported on Tuesday. The remarks by the minister, Bijan Namdar Zangeneh, came after talks with OPEC chief Mohammad Sanusi Barkindo on Tuesday in Tehran. According to Zangeneh, most OPEC ...

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Iceland hosts energy branding conference Sept. 19-21

Blue Lagoon, geothermal spa

The electricity market has moved from regulation to competition meaning that consumers have an added influence. The most effective way of communicating with them is through a well-designed, strong brand. This is opening up new opportunities, both for the utilities and the customers. All marketing efforts need to rely on strong brand work to be efficient and effective. CHARGE – The World’s First Energy Branding ...

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Cyprus, Egypt sign deal paving way for gas pipeline

Cyprus, gas deal

NICOSIA, Cyprus (AP) — Cyprus and Egypt signed an agreement Wednesday that paves the way for the supply of gas to the Arab nation via an undersea pipeline that officials hope will create a regional energy hub. Cypriot Energy Minister Yiorgos Lakkotrypis and Egypt’s Petroleum Minister Tarek el-Molla said the deal sets the political framework for additional commercial agreements that ...

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Mexico wonders why its president is meeting with Trump

Mexico, Trump

MEXICO CITY (AP) — President Enrique Pena Nieto awoke to a storm of criticism from Mexicans over his decision to meet Wednesday with Republican presidential candidate Donald Trump, who is widely reviled in Mexico for referring to its migrants as “rapists” and criminals. Former first lady Margarita Zavala, herself a potential presidential candidate, aimed a tweet at Trump, saying: “Even ...

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Report: Iran detains Greek national for smuggled oil tankers

Photo: Pixabay

TEHRAN, Iran (AP) — An Iranian state-run daily is reporting that authorities in Tehran have detained a Greek national they accuse of embezzling money from smuggled oil and selling three oil tankers for $100 million. The report on Thursday in the IRAN newspaper suggests the Greek national was involved in smuggling Iranian crude oil while economic sanctions were imposed over ...

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Nigerian oil militants declare ceasefire, ready to negotiate

Louisiana oil spill

WARRI, Nigeria (AP) — Nigeria’s leading oil militants have declared a conditional ceasefire in attacks that are losing the West African nation a million barrels of oil a day. The Niger Delta Avengers also say they are willing to negotiate a peace deal. A statement posted on the group’s website and dated Saturday says they will continue an undeclared “cessation ...

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7 people detained in Georgia in gas pipeline plot

Tbilisi Georgia

TBILISI, Georgia (AP) — Georgia’s intelligence agency says it has detained seven people suspected of plotting an attack on a gas pipeline that carries Russian gas to Armenia. The State Security Service said in a statement on Monday that it detained five people on Saturday who were planning to bomb a section of the pipeline south of the capital, Tbilisi. ...

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