Latest Energy Headlines
All the headlines from our Energy Topic Page, ordered by recency.
P&O Cruise Ship Crashes Into Oil Tanker, Injuring Passengers
Aug 28 2023 // A P&O cruise ship with thousands of passengers on board collided with an oil tanker off the coast of Palma de Mallorca in Spain on Sunday, injuring a small number of people. Videos posted to social media showed the...
Biden Administration Finalizes Stricter Rules to Prevent Offshore Blowouts in Oil and Gas Drilling Rigs
Aug 24 2023 // NEW ORLEANS (AP) – The Biden administration on Tuesday finalized tighter rules for complex devices meant to prevent catastrophic blowouts on offshore oil and gas drilling rigs, reversing some Trump administration...
Insurers Raise Premiums for Black Sea Oil Tankers as Tensions Mount: Traders
Aug 23 2023 // Insurance companies have notified charterers of ships operating in Russia’s Black Sea ports of an increase in additional payments known as “war risk premiums,” four traders said. A war risk premium was...
Russia’s Flagship Oil Rises Above G-7 Sanctions Cap, but Does Little to Impede Services
Aug 22 2023 // The price of Russia’s flagship oil may have jumped above a Group of Seven imposed cap but that has done little to impede the provision of western services for the trade. The number of ships calling at the...
New York City Pension Plans Seek to Dismiss Lawsuit Over Fossil Fuel Stakes
Aug 16 2023 // New York City pension funds filed a motion to dismiss a lawsuit filed in May that alleged the plans breached their fiduciary duties by selling billions of dollars of fossil fuel assets. The lawsuit was filed by plaintiffs...
US Insurers Invested in Fossil Fuels as Climate Risks to Underwriting Mount
Aug 8 2023 // U.S.-based insurers have invested hundreds of billions of dollars in fossil fuel-related assets which in turn contribute to the risk of climate-related damage to the underwriting side of their businesses, a new report said...
Ukraine’s Drone Attack Hasn’t Yet Jolted Insurance Costs for Black Sea Oil Carriers
Aug 8 2023 // A drone attack on a Russian oil tanker and a warning from Kyiv that more could follow has so far had little impact on insurance costs for oil and commodity carriers in the key Black Sea region, as rates were already...
Pipeline Operators to Pay $12.5M After Crude Oil Spills in Montana, North Dakota
Aug 3 2023 // The U.S. Environmental Protection Agency on Monday announced the settlement in a 2022 federal court lawsuit. Belle Fourche Pipeline Company and Bridger Pipeline LLC will pay the $12.5 million to resolve the claims made...
Operation Begins to Remove Oil From Rusting Yemen Tanker to ‘Avoid Catastrophe’: UN
Jul 27 2023 // An international team began siphoning oil out of a decrepit oil tanker off the coast of Yemen on Tuesday, the United Nations chief said, a crucial step in a complex salvage operation aiming to prevent a potential...
As Russian Oil Crosses G-7’s Price Cap, US Eyes Soft Enforcement
Jul 27 2023 // The Biden administration is poised to increase outreach to western trading houses, insurers and tanker owners to remind them to abide by the Group of Seven’s price cap on Russian oil as the crude trades over that...
One Year Old, US Climate Law is Turbocharging Clean Energy, Raising Issues for Insurers
Jul 25 2023 // On a recent day under the July sun, three men heaved solar panels onto the roof of a roomy, two-story house near the banks of the Kentucky River, a few miles upstream from the state capitol where lawmakers have promoted...
Residents of Memphis Suburb Told to Avoid Tap Water After Fuel Spill
Jul 24 2023 // Residents of a Tennessee city must keep avoiding using their tap water after diesel fuel being used to power a generator at a treatment plant leaked into a reservoir, officials said Friday. Officials in the Memphis suburb...
Texas Oil Company Fined $1.3M for Excess Emissions
Jul 20 2023 // The Environmental Protection Agency levied a $1.3 million fine on a Texas oil and gas company for excess emissions from tanks, flares and other equipment the EPA using a helicopter equipped with a special infrared camera...
UN Could Start Removing Oil This Week From Decaying Yemen Tanker
Jul 20 2023 // An operation to start removing some 1.1 million barrels of oil from a decaying tanker moored off Yemen’s coast could start by the end of the week, the United Nations said on Tuesday. U.N. officials have been warning...
Russia Oil Hitting $60 Cap Adds to Crude-Oil Buyers’ Banking, Shipping Woes
Jul 14 2023 // A top buyer of Russian oil is bracing for trading trouble as the price of Urals, the country’s main export grade, breaks through a $60-a-barrel cap set by Western nations to curb Moscow’s revenue. India and...
Russia’s Flagship Crude Oil Surpasses G-7 Price Cap in Blow to Western Sanctions
Jul 13 2023 // Russia’s flagship Urals crude oil breached a price cap set by the Group of Seven, a blow to western sanctions efforts and arguably an economic win for Moscow. According to price reporting agency Argus Media, Urals...
Indonesia Seizes Iranian-Flagged Tanker Suspected of Illegal Oil Transfer
Jul 11 2023 // Indonesia’s coast guard said on Tuesday it seized an Iranian-flagged supertanker suspected of involvement in the illegal transshipment of crude oil, and vowed to toughen maritime patrols. The MT Arman 114 was...
Russia-Linked Oil Tanker Fleet Vanishes Even Faster Than It Grew
Jul 11 2023 // A fleet of tankers that sprouted up out of nowhere to keep Russia’s oil moving has disbanded even faster than it emerged, underscoring the challenges involved in keeping track of who’s helping Moscow to get its...
Russia’s Aging, Dark Fleet of Oil Tankers Gets Infusion of Newer Ships
Jul 3 2023 // An armada of tankers ferrying sanctioned oil around the globe is starting to get younger, bucking a months-long trend of using the world’s oldest and most dangerous vessels. Shortly after President Vladimir...
Oil-Field Lawsuit Offers Rare Insight Into Harassment Complaints
Jun 28 2023 // A lawsuit set for trial in July against the world’s largest provider of drilling services will offer rare public testimony about the plight of women working in America’s oil fields. Jessica Cheatham, who worked...
