Tag Archives: United States of America

Big Oil majors booked profits of a combined $174 billion for the first nine months of the year as they focused on returning cash to shareholders instead of boosting production to arrest a price rally, The Guardian reported this week, citing a report shared exclusively by Accountable.US, a government corruption …

U.S. imports of crude oil from Iraq averaged 140 thousand barrels per day (bpd) last month, the Energy Information Administration (EIA) said on Saturday. In its monthly report on U.S. oil imports, EIA said that the U.S. imports from Iraq grossed 4.192 million barrels in November at a rate of …

The U.S. is trying to re-focus its energy relationship with top Middle East OPEC countries, notably Saudi Arabia, after a period of tension between Washington and Riyadh over high oil prices. Amos Hochstein, the top American energy diplomat, held meetings this week with officials in the Middle East, including Saudi …

Just a few days after the go-ahead of a giant commercial-scale offshore wind project off the coast of Martha’s Vineyard in the US state of Massachusetts, the US Interior Department approved the second major offshore wind farm. The approximately 130MW South Fork Wind project will be located 19 miles southeast …

The United States is “turning to China for help” to cool inflation by releasing some of its oil reserves, the state-backed Global Times said in an editorial on Wednesday (Nov 24), adding that the move will benefit everyone but China “has the upper hand”.” Washington has asked some of the …

US President Joe Biden has today announced that the Department of Energy will make available releases of 50 million barrels of oil from the country’s strategic petroleum reserve to lower gas prices. Last week, Mr Biden asked the Federal Trade Commission to investigate possible wrongdoing of oil and gas companies …

Oil was steady after the biggest gain in two weeks following an announcement by the US of a coordinated release of strategic petroleum reserves (SPR) with other countries that fell short of expectations. Futures in New York traded above $78 a barrel after climbing 2.3% on Tuesday. The US will …

The U.S. will release 50 million barrels of crude from its strategic reserves in concert with China, Japan, India and South Korea and the U.K — an unprecedented, coordinated attempt the world’s largest oil consumers to tame prices that could prompt a backlash by OPEC+. Of that amount, 32 million …

Asia is stocking up on liquefied natural gas (LNG) to avoid a repeat of last winter’s crunch when colder than usual temperatures sent 2020/2021 winter spot LNG prices to records. Now prices are even higher, but many Asian buyers are still on the spot market despite the expensive gas in …

Japan is considering tapping into its national oil reserves, the country’s PM has confirmed, after Washington reportedly urged top oil consumers to release their reserves to tackle high crude prices. Speaking to reporters during his visit to the southern Japanese city of Matsuyama on Saturday, Prime Minister Fumio Kishida said …