ENERGY

Authored by Tsvetana Paraskova via OilPrice.com,

Phasing out fossil fuels is unrealistic as oil, natural gas, and coal will continue to play a crucial role in global energy supply and energy security, China’s special climate envoy Xie Zhenhua said this week in a speech obtained by Reuters.

China is the world’s biggest consumer of coal and the largest importer of crude oil. Despite soaring renewable power capacity installations in recent years, China continues to consume growing (more…)

Authored by Irina Slav via OilPrice.com,

The Offshore Alliance trade union has called off a strike at two Chevron LNG projects in Australia after the country’s labor market regulator mediated a settlement between the parties.

The strike began on September 8 after they failed to reach an agreement with Chevron about working conditions and wage demands.

Because of the dispute between Chevron and workers at the Gorgon and Wheatstone projects, LNG prices jumped 35% in (more…)

Authored by Charles Kennedy via Oilprice.com,

Australia’s Fair Work Commission is set to decide on Friday whether to halt the strikes at Chevron’s two LNG export facilities in Australia after the latest talks between the U.S. supermajor and trade unions failed on Wednesday.

“The ongoing lack of agreement reinforces our view that there is no reasonable prospect of agreement between the parties,” a spokesperson for Chevron told Reuters today.  

The workers have (more…)