BELLINGHAM, Wash. (AP) — Two activists spent about six hours Friday suspended from the anchor chain of a Royal Dutch Shell support ship docked north of Seattle to protest the petroleum giant's plans to drill for oil in the Arctic Ocean.
The protesters sitting in cloth slings attached themselves around 3:30 a.m. to the anchor chain of the American Trader at the Bellingham harbor. A spokeswoman for the group said they were comfortable, in good spirits and excited to be there.
An announcement from Saudi Arabia that it was eyeing an increase in its crude output, coupled with gains in the dollar, pressured oil prices early Friday. U.S. benchmark crude slipped 77 cents to $60 a barrel in electronic trading on the Nymex, while in London Brent lost 63 cents to $64.48, Reuters reports.
JAKARTA, Indonesia (AP) — Indonesia's energy ministry said Friday the country will rejoin the Organization of Petroleum Exporting Countries this year to forge a closer relationship with oil suppliers.
I Gusti Nyoman Wiratmadja Pudja, director-general of oil and gas at the ministry, said Indonesia will reactivate its membership in November after all OPEC members approved its application to rejoin the oil cartel at a meeting in Vienna last week.
YORK TOWNSHIP, Mich. (AP) — The timing isn't perfect, but Toyota is getting close to rolling out the next generation of its Prius gas-electric hybrid car.
Low gas prices have depressed sales of hybrids, with Prius sales falling 14 percent in the first five months of this year. The U.S. government expects gasoline to average $2.44 a gallon this year, compared with $3.36 a gallon in 2014.
The $345 million compensation fund being set up to pay those who’ve suffered from the 2013 oil train disaster in Lac Megantic, Quebec received contributions from major oil companies including Royal Dutch Shell PLC, Marathon Oil Corp. and ConocoPhillips, The Wall Street Journal reports.
BEIJING (AP) — A court sentenced China's former security chief to life in prison Thursday after convicting him of corruption in a secretly held trial, underscoring President Xi Jinping's anti-graft campaign and further cementing Xi's authority by burying a once-powerful political faction.
Zhou Yongkang, 72, was spared the death penalty in a decision seen as a show of leniency toward the former Politburo Standing Committee member, the highest-level politician to face court in China in more than three decades.
Oil prices remained steady Thursday as bullish projections on crude demand and production from the International Energy Agency balanced out a pessimistic projection on economic growth from the World Bank. U.S. benchmark crude lost 20 cents to $61.23 a barrel in electronic trading on the Nymex, while in London Brent was unchanged at $65.70, Reuters reports.
Continuing concerns about a supply glut and worries about turbulence in China’s stock market were pressuring U.S. oil prices Tuesday, on top of the sharp drop a day earlier. U.S. benchmark crude for August delivery lost 20 cents to settle at $52.33 a barrel on the Nymex, while in London, Brent gained 31 cents to $56.85, Dow Jones reports.
The crew of Shell's icebreaker MSV Fennica, on its way to the Chukchi Sea carrying a critical piece of equipment, found a leak Friday in the ship's ballast tank and it has turned back for repairs, FuelFix reports.
Analysts with the Carbon Tracker Initiative say the push to keep cutting carbon emissions increases the long-term risk of wasted capital expenditure on natural gas projects that end up being surplus to requirements, E&E reports.
In a move that appears to target rebel rancher Cliven Bundy and others who might follow his example, House Democrats hope to amend the Interior Department/EPA spending bill to block anyone from being granted a grazing permit if they haven't paid the fees they already owe the federal government, National Journal reports.
Officials in the handful of water districts that reported a surge in May water use despite Gov. Jerry Brown’s order to cut consumption by a quarter are struggling to come up with explanations, the Los Angeles Times reports.
With its Mirai hydrogen fuel cell sedan - now claimed to be the zero emission car with the longest range – Toyota will start offering a direct challenge to Tesla’s plug-in Model S in the U.S., Business Insider reports.
Tesla hopes to start selling batteries in Australia early next year, in a market Morgan Stanley says may be worth $18 billion and where half of all homes are projected to be using solar power by 2040, Bloomberg reports.