The US Department of the Treasury has imposed sanctions against three Russian legal entities that Washington suggests are involved in construction of the Nord Stream 2 gas pipeline, according to a statement released on Friday. The entities added to the sanctions list include the Federal State Budgetary Institution Marine Rescue …
Read More »German Lawmaker Calls for ‘Countersanctions’ against US over Nord Stream 2
On Wednesday, US State Department Principal Deputy Spokesperson Jalina Porter signalled the Biden administration’s readiness to use all available tools to try and prevent the completion of Russia’s Nord Stream 2 gas-exporting pipeline. A German lawmaker has urged Berlin to initiate countermeasures against the US over the Nord Stream 2 …
Read More »US Oil Neutral in $63.88-$65.45 Range
US oil looks neutral in a range of $63.88-$65.45 per barrel. The bias seems to be towards the downside. The contract failed again to break a resistance at $66.52. The failure suggests the formation of a triple-top around this level. The pattern will be confirmed when oil breaks $63.88. It …
Read More »Russia Calls on US, Iran to Synchronize Steps to Return to Nuclear Deal
Moscow calls on Washington and Tehran to synchronize their steps to return to the Joint Comprehensive Plan of Action (JCPOA) on Iran’s nuclear program, Russian Deputy Foreign Minister Sergei Ryabkov told reporters on Wednesday. “From our standpoint, the United States’ return to the JCPOA is the key issue that needs …
Read More »US Becomes Main LNG Supplier to European Market in Q1 of 2021
The United States became the first largest supplier of liquefied natural gas (LNG) to the European market in the first quarter of 2021, overtaking Qatar, according to the latest report by Russia’s energy giant Gazprom published on Monday. “Thanks to a significant increase in associated gas production and the construction …
Read More »Iraq Surpasses KSA in Oil Exports to USA
The U.S. Energy Information Administration(EIA) has announced on Saturday a surge in Iraqi oil exports to the U.S. to up to 235,000 barrels per day, surpassing last week’s Saudi exports. According to a report released by the EIA, “Last week’s U.S. imports of crude oil from 9 different countries amounted …
Read More »Number of Active U.S. Drilling Rigs Increases This Week
The number of active drilling rigs in the United States increased five to 453 rigs this week, up by 114 year on year, according to the weekly data released by Houston-based oilfield services company Baker Hughes, Trend reports citing Xinhua. These active drilling rigs included 352 oil rigs operating in …
Read More »Hyundai Commits To $7.4 Billion Program to Build Electric Cars in US
The Biden administration is proposing an array of policy measures to encourage the sale of electric cars in the US — provided they are built in the US by American workers. GM has responded to the administration’s plans by announcing it will spend $1 billion to expand its factory in …
Read More »US Partnered with India as PM Modi Made Commitment to Deploy 450 GW Renewable Energy
The United States has partnered with India on climate change so as to help it meet its commitment to deploy 450 gigawatts (GW) of renewable energy, the Biden administration’s climate change envoy has told US lawmakers. “Prime Minister (Narendra) Modi has made a commitment to deploy 450 GW of renewable …
Read More »Shell Makes Significant Oil Find in U.S. Gulf of Mexico
Shell Offshore, a subsidiary of supermajor Shell, has made a ‘significant’ oil discovery in the deepwater region of the U.S. Gulf of Mexico. Shell said on Tuesday that it made a discovery of more than 600 feet (183 meters) net oil pay at multiple levels at the Leopard prospect. The …
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