The oil cartel had aimed to start opening the taps in January, but delayed in the face of weak demand and plans by other countries to raise production.
Category: Oil (Petroleum) and Gasoline
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North Carolina Town Sues Duke Energy Over Climate Change
Carrboro accused Duke, one the nation’s largest utility companies, of ignoring data about climate change while increasing use of fossil fuels.
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For Canada, Trade Tumult From Trump’s Return Has Begun
While the president-elect says he will impose a 25 percent tariff on everything Canada exports, Trudeau remains confident about forestalling that outcome.
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Saudi Arabia and Russia Block Mention of Fossil Fuel Exit in Climate Resolution
A handful of oil-producing nations ensured that a United Nations General Assembly resolution on climate change steered clear of a call to transition away from fossil fuels.
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Trump Promised to Halve Energy Costs in 18 Months. Experts Have Doubts.
A president has little control over global oil markets, economists say.
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Phillips 66 Is Accused of Violating the Clean Water Act
The oil company was indicted on charges of dumping nearly 800,000 gallons of contaminated wastewater into the Los Angeles County sewer system.
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Why Oil Companies Are Walking Back From Green Energy
As leaders gather for a global climate summit, investors are rewarding oil giants like Exxon Mobil that did not embrace wind and solar.
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Vardis Vardinoyannis, Greek Tycoon With Ties to the Kennedys, Dies at 90
He built his family’s oil-refining operation into one of the largest companies in the country, and then used his wealth to benefit charitable causes.
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Exxon Chief to Trump: Don’t Withdraw From Paris Climate Deal
Darren Woods was one of only a few Western oil executives attending a global climate conference in Baku, Azerbaijan.
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Trump’s Energy Policies May Be a Mixed Bag for Oil Companies
The president-elect has promised to make it easier to build energy infrastructure and secure drilling leases. But higher production could hurt prices and profits.
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With Oil Prices Weak, OPEC+ Postpones Increases Again
Saudi Arabia, which leads the group, appears wary of unsettling markets just before the U.S. presidential election on Tuesday.
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Oil Interests Gave More Than $75 Million to Trump PACs, New Analysis Shows
Oil moguls are big donors to Donald Trump. But so are engineering firms, hedge fund managers, shipbuilders and others that profit from fossil fuels.