OPEC tells EU not possible to replace potential Russian oil supply loss
LONDON – OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be…
LONDON – OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be…
BUENOS AIRES – Argentina’s largest oil union called on the industry to restore jobs lost during the COVID-19 pandemic following a significant increase in production, the union’s leader told Reuters.…
By Timothy Gardner, Julia Payne and Ahmad Ghaddar (Reuters) – The Biden administration is selling a record amount of emergency oil from national reserves to tame soaring U.S. fuel prices…
By Erwin Seba HOUSTON – Negotiators from Chevron Corp and the United Steelworkers union (USW) are scheduled to meet on Monday to discuss a possible end to a strike at…
LONDON – Shell said on Thursday it diverted $7 billion of its cash flows partly to cover hefty oil and gas margin calls, becoming the first company to publicly acknowledge…
By Terje Solsvik and Victoria Klesty OSLO – Belgian oil tanker group Euronav and smaller Oslo-listed rival Frontline plan to merge in an all-stock transaction valued at $4.2 billion that…
Dems Trot Out Debunked Talking Point To Justify Forcing Big Oil To Walk The Plank Thomas Catenacci on April 6, 2022 Democrats on the House Energy and Commerce Committee blamed…
(Reuters) – The International Energy Agency (IEA) will release 120 million barrels of oil to ease prices, half of which would come from the United States, while other IEA members…
By Jonathan Saul LONDON – The risk of coming across floating mines in the major Black Sea shipping route is adding to perils for merchant ships sailing in the region,…
It Took Just Four Days For Biden’s Oil Price Scheme To Go Up In Smoke Thomas Catenacci on April 4, 2022 Oil prices shot up Monday despite President Joe Biden’s…
Biden’s War On Oil, Gas Drilling Likely To Hurt Environmental Conservation Programs Thomas Catenacci on April 3, 2022 While President Joe Biden’s administration has repeatedly delayed and blocked new federal…
FRANKFURT – Germany will face a steep recession if there is a stop to imports or delivery of Russian gas and oil, a top German bank lobby warned on Monday.…
NEW ORLEANS – United States Attorney Duane A. Evans announced that PATRICK HUSE, age 40, of Perkinston, Mississippi, pled guilty today to a violation of Title 33, United States Code,…
By Yuka Obayashi Tokyo – U.S.-allied countries on Friday agreed to their second coordinated oil release in a month to calm markets roiled by Russia’s invasion of Ukraine, Japan’s industry…
By Marianna Parraga and Mircely Guanipa HOUSTON/CARACAS – Petroleum exports from Venezuela declined about 4% in March from the previous month as its state-run oil company dealt with crude cargoes…
Biden Asks Congress To Punish Oil Companies Not Drilling More Thomas Catenacci on March 31, 2022 President Joe Biden asked Congress to hit oil companies with fines for not producing…
WASHINGTON – President Joe Biden on Thursday accused U.S. oil companies of enjoying record profits while Americans pay high gasoline prices and said they should use the money to produce…
By Mircely Guanipa and Marianna Parraga CARACAS/HOUSTON – Venezuela’s state-run energy firm PDVSA is in talks to buy and lease several oil tankers amid a possible expansion in exports, according…
CAIRO – Oman expects to reduce its public debt to 19.46 billion Omani riyals by using the surplus arising from selling oil at higher prices and repaying some loans by…
Biden Plans To Release More Oil From Emergency Stockpile. Will It Work? Thomas Catenacci on March 31, 2022 President Joe Biden is set to order the release of up to…
WASHINGTON – U.S. President Joe Biden’s administration on Thursday announced a plan to release 1 million barrels of oil a day from the strategic petroleum reserve over the next six…
By Seher Dareen (Reuters) – A rally in oil is set to continue with prices staying well above $100 this year as a parched market struggles to wean itself off…
(Reuters) – Major Russian oil refiners have told the Energy Ministry they expect to make deeper cuts to refinery runs in the coming weeks due to overstocking after a sharp…
By Noah Browning and Timothy Gardner LONDON/WASHINGTON – Top oil consuming nations may find that one of their main tools to fight high global oil prices – the release of…
WASHINGTON – The Biden administration is weighing a draw of oil from emergency reserves of up to 180 million barrels over several months, two U.S. sources said on Wednesday. The…