Overturned oil tanker carrying diesel fuel shuts down US 9 in Lakewood
LAKEWOOD, N.J. — An overturned tanker carrying thousands of gallons of diesel fuel has shut down all lanes of U.S. Route 9 in both directions north of James Street in Lakewood Township…
Shell blames oil, gas margin calls for billions in cash outflows
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 the pressure…
Oil tanker groups Euronav and Frontline plan $4.2 billion tie-up
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 they said…
Dems Trot Out Debunked Talking Point To Justify Forcing Big Oil To Walk The Plank
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 oil corporations…
IEA to release 120 million barrels of oil to ease prices – Bloomberg
(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 would provide…
Floating mines in Black Sea endangering grain, oil trade – officials
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, and governments…
It Took Just Four Days For Biden’s Oil Price Scheme To Go Up In Smoke
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 plan to…
Biden’s War On Oil, Gas Drilling Likely To Hurt Environmental Conservation Programs
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 oil and…
Germany faces steep recession if Russian oil and gas halted – banks
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. Europe’s largest…
Oil Company Worker Guilty of Negligent Discharge of Hazardous Substances into The Gulf of Mexico
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, Section 1321(b)(3)…
IEA states agree on coordinated oil release but not volumes – Japan
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 ministry said,…
Venezuela’s March oil exports slip amid struggles with returned cargoes
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 returned by…
Biden Asks Congress To Punish Oil Companies Not Drilling More
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 energy on…
Biden says U.S. oil companies sitting on record profits
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 more oil…
Exclusive-Venezuela’s PDVSA seeks oil tankers in anticipation of U.S. sanctions easing
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 to three…
Oman to use surplus from higher oil prices to reduce public debt
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 end of…
Biden Plans To Release More Oil From Emergency Stockpile. Will It Work?
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 180 million…
U.S. to release 1 million bbl of oil per day from strategic reserve over next 6 months – statement
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 months, the…
Oil above $100/barrel to stay as market struggles to replace Russian barrels: Reuters poll
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 Russian oil,…
Russian oil refiners signal deeper cuts to refinery runs amid overstocking
(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 drop in…
Analysis-U.S. and allies may find tapping stockpiles inadequate to plug Russian oil gap
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 strategic stockpiles…
Biden admin weighs 180 million bbl draw of oil from emergency reserves over months -sources
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 move is…
Big Oil Thumbs Nose At Democrats, CEOs Decline Price Gouging Hearing Invitation
Big Oil Thumbs Nose At Democrats, CEOs Decline Price Gouging Hearing Invitation Thomas Catenacci on March 30, 2022 Three major U.S. fossil fuel companies rejected an invitation from House Democrats to testify…
Top public lands producers decline U.S. House committee hearing on oil prices
By Liz Hampton, Valerie Volcovici and Timothy Gardner DENVER/WASHINGTON – U.S. oil companies with the most production on federal lands and waters are not planning to attend a congressional hearing next week…
Oil Industry Report Warns Of Massive Job Losses From Biden’s Anti-Drilling Agenda
Oil Industry Report Warns Of Massive Job Losses From Biden’s Anti-Drilling Agenda Thomas Catenacci on March 29, 2022 The Biden administration’s failure to pursue a plan for offshore oil and gas leasing…
Factbox-Global oil supply disruptions approaching 5-6 million bpd
(Reuters) – Global oil supply disruptions are approaching 5-6 million barrels per day (bpd), according to Reuters’ calculations, as sanctions, conflicts and infrastructure failures hit supply just as demand is recovering close…
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