U.S. President Donald Trump revoked offshore oil and gas leasing bans that effectively blocked drilling in most U.S. coastal waters as he made sweeping moves his first hours in office to unleash American energy development. Trump’s move came as part of a broad assault on executive orders issued by former …
Read More »U.S. Sanctions could Hit 1.5 Million Bpd of Russian Oil Exports
One week into the latest – and most aggressive yet – U.S. sanctions on Russian oil exports, the Asian buyers of Russian crude are scrambling for alternative supply, the price of oil has rallied, and analyses suggest that more than 1 million barrels per day (bpd) of Moscow’s export volumes …
Read More »World’s Largest Telescope Threatened by Light Pollution from Renewable Energy Project
Astronomers are sounding alarm bells as the world’s most precious sky-observing location faces a risk of being blinded by light pollution due to a planned renewable energy project. The U.S. energy company AES Energy wants to build a large renewable hydrogen manufacturing complex in Chile, only a few kilometers from …
Read More »Iraq Signs Agreement with US Company to Develop Oil Field in Basra
The Director-General of Basra Oil Company, Basem Abdul Kareem, announced on Thursday that Iraq and the US oil services company, Halliburton, are nearing the finalisation of an agreement to develop the Nahr Bin Omar oil field. Abdul Kareem added that Iraq’s Ministry of Oil and Halliburton are expected to sign …
Read More »U.S. Oil and Gas Jobs Plummet despite Record Production
During the Covid-19 pandemic, when oil prices fell to a record low, millions of oil and gas jobs were cut worldwide. This was owing to a decrease in oil and gas operations due to work and movement restrictions, as well as many companies going bankrupt. During this time, several oil …
Read More »IEA Sees U.S. Sanctions on Russia Disrupting Oil Flows
The new expansive U.S. sanctions on the Russian oil industry and exports could affect global oil flows, complicating trade logistics for producers using shadow fleets such as Russia, Iran, and Venezuela, the International Energy Agency (IEA) said on Wednesday. Despite the prospect of declining supply from Russia and Iran, with …
Read More »Oil Prices Jump to 4-Month High on Fresh U.S. Sanctions
Crude oil prices started the week with a gain that pushed Brent crude to the highest in four months following the introduction of a fresh package of sanctions against Russia by the Biden administration. The sanctions focused on Russia’s oil industry. At the time of writing, Brent crude was trading …
Read More »Russia Says US Risks Global Energy Instability after Fresh Sanctions
Moscow on Saturday accused the United States of being ready to risk global energy instability with new sanctions on Russia’s energy sector, including industry majors such as Gazprom Neft, which were announced earlier on Friday. The U.S. and the U.K. on Friday announced new sanctions against Russia’s energy sector, including …
Read More »EIA: Iraqi Oil Exports to US Dip over the Week
The US Energy Information Administration (EIA) announced, on Sunday, that Iraqi oil exports to the US had dropped during the past week. “In a span of a week, the US imports of crude oil from 10 major countries amounted to 6.016 million bpd, up by 251,000 bpd from the previous …
Read More »China and India Stand to Lose from U.S. Sanctions on Russian Oil Trade
The United States is set to impose some of the harshest sanctions yet on Russia’s oil industry, Reuters has reported. According to a purported U.S. Treasury document circulating among traders in Europe and Asia, some 180 vessels, several senior Russian oil executives, dozens of traders and two major oil companies …
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