Home / International

International

AP Interview: IMF says low oil prices still hurting Mideast

middle east oil, mideast economy, oil prices, OPEC

DUBAI, United Arab Emirates (AP) — Oil-producing Mideast countries are coping with low global oil prices though more government reforms are needed, the International Monetary Fund’s chief for the Mideast said as the organization issued a new report Wednesday showing weak economic growth in the region. Masood Ahmed also told The Associated Press that Iran’s economy beat expectations by growing ...

Read More »

OPEC must enact cuts for sustained oil price rise, IEA says

oil field, Kuwait, oil spill

PARIS (AP) — The International Energy Agency is urging OPEC countries to swiftly deliver on promised production cuts if they want to see a sustained increase in oil prices that will also help shore up their economies. In its monthly report Tuesday, the global watchdog said production from the Organization of the Petroleum Exporting Countries hit a record high in ...

Read More »

British government OKs fracking at 1 site despite opposition

Britain fracking

LONDON (AP) — The British government has approved fracking at a site in northern England despite opposition from the local county council. The landmark decision by Communities Secretary Sajid Javid Thursday means the shale company Cuadrilla will be able to proceed with plans to develop a site in Fylde, 230 miles (370 kilometers) northwest of London. The government stopped short ...

Read More »

AP Explains: What does OPEC’s tentative deal mean for oil?

OPEC

DUBAI, United Arab Emirates (AP) — OPEC nations have agreed in theory that they need to reduce their production to help boost global oil prices during a meeting in Algeria, but a major disagreement between regional rivals Saudi Arabia and Iran still may derail any cut. What happened to oil prices and why can’t OPEC agree to anything more binding? ...

Read More »

Iran oil industry fires, blasts raise suspicions of hacking

Iran, hacking

DUBAI, United Arab Emirates (AP) — A series of fires at Iranian petrochemical plants and facilities have raised suspicions about hacking potentially playing a role, with authorities saying that “viruses had contaminated” equipment at several of the affected complexes. Iran officially insists the six known blazes over the span of three months weren’t the result of a cyberattack. However, the ...

Read More »

No diesels need apply: Electric cars rule at Paris show

electric cars, Paris auto show

FRANKFURT, Germany (AP) — Carmakers are finding the Paris auto show , held in a city whose mayor wants to ban diesels to reduce pollution, to be a fine place to show off new zero-emission electric vehicles. Most prominently, Volkswagen will unveil a new small electric car as part of its pivot from diesel to more electric models as it ...

Read More »

Pemex says fire put out on tanker off Mexico’s Gulf coast

MEXICO CITY (AP) — A fire on a tanker carrying gasoline and diesel off Mexico’s Gulf coast was put out Sunday, a day after the blaze began, the country’s state oil company said. Firefighting boats had battled the blaze since Saturday aboard the Burgos, which is owned by the company, Petroleos Mexicanos, or Pemex. A Pemex statement Sunday night said ...

Read More »

Shell Nigeria refuses to confirm oil militants’ attack

Nigerian flag. Pixabay

WARRI, Nigeria (AP) — Shell Nigeria refused Monday to confirm a report by the Niger Delta Avengers militant group that it has bombed the company’s Bonny oil pipeline and again crippled its exports. Friday night’s bombing breaks a month-long ceasefire between militant groups and the government and comes days after repairs from an earlier attack had allowed Shell’s exports to ...

Read More »

AP Exclusive: Iraq oil fires could jeopardize Mosul mission

Iraq fires

WASHINGTON (AP) — A fire at one of Iraq’s major oil fields could hinder military and humanitarian efforts as operations to recapture the Islamic State stronghold of Mosul get underway. Black smoke continues to billow into the air from the Qayara oil field, damaged by IS militants last month as they fled the town, creating health risks for civilians and ...

Read More »