Trump-down on Obama’s Paris Deal

The United States withdraws from the Paris climate pact that its government, under former President Obama, had agreed to, saying the accord would have cost America trillions of dollars, killed jobs, and hindered the oil, gas, coal and manufacturing industries. Read more here: http://bdnews24.com/world/2017/08/05/us-submits-formal-notice-of-withdrawal-from-paris-climate-pact

The god of Oil and Energy Falls Down!

Andy Hall, nicknamed the god of oil and energy, is closing down his main hedge fund after big losses in the first half of the year as a result of muted oil prices which saw the wrong-footing of traders from Goldman Sachs Group Inc. to BP Plc’s in-house trading unit. Read more here: http://www.thestar.com.my/business/business-news/2017/08/05/oil-markets-god-falls-to-earth-as-hall-closes-main-hedge-fund/

One Oil’s Meat is Another’s Poison

While crude prices declined on Friday, due to rising OPEC exports and strong US output, Oil prices rose after a strong US jobs report bolstered hopes for growing energy demand. US employers hired more workers than expected in July. Read more here: https://www.geo.tv/latest/152438-oil-prices-rise-on-strong-us-jobs-data

Haba! What happened Na?

Three years after the United States stopped the purchase of Nigerian crude about three years ago, India’s Hindustan Petroleum Corporation plans to buy low sulphur oil and is considering taking the United States oil in place of Nigeria’s sweet crude. Read more here: http://www.nigerianewspaper.com.ng/2017/08/india-may-dump-nigerias-crude-for-us-oil.html

Hear! Hear!! Weather Warning

Much of Southern and Western Europe – that includes the Balkans, Bosnia, Croatia, Serbia, Albania, Bulgaria, Austria, Italy, France, and Spain - are experiencing a sweltering under a record-breaking heat-wave which has sent people scrambling for shelter and firemen into action. Read more here:  http://m.chinapost.com.tw/international/2017/08/05/499853/Southern-Europe.htm

Blessings in Disguise

Production cuts by the Organization of the Petroleum Exporting Countries (OPEC) and falling Latin American output that have tightened heavy crude supplies is working in Iran’s favor as the Arab country continues to win Chinese market share in the second half of 2017 with recent report by Reuters stating the ‘… crude and condensate exports from Iran to China are set to hit 733,000 barrels per day (bpd) in August.’ Read more here: http://theiranproject.com/blog/2017/08/05/irans-oil-exports-china-reach-record-levels/

Russian Gets Tough Love From Neighbors

The European Union, which has a strict policy of refusing to recognize Moscow's annexation of Crimea - said 153 people and 40 companies had now been targeted by individual sanctions against Russian Federation after Siemens gas turbines diverted to Crimea. Russia threatens to retaliate. Read more here: http://wisdomsave.com/2017/08/05/european-union-imposes-new-russian-federation-sanctions.html

Your Account Balance Is €1 billion

Financing worth €1 billion (£0.9bn) to roll out smart meters for energy distribution in Italy has been approved by the European Investment Bank (EIB). Read more here: http://www.energylivenews.com/2017/08/05/eu-bank-lends-e1bn-to-rollout-smart-meters-in-italy/