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We Couldn’t Sanction Russia’s Oil 18 Months Ago, It Would Hurt Consumers

In an interview with “PBS News Hour” that aired Friday, National Security Adviser Jake Sullivan said the Biden administration is looking forward to the large-scale sanctions on Russian energy that it imposed on Friday. “If we had imposed sanctions on Russian oil 18 months ago, when oil prices and gasoline prices were high, that would […]

Russia says it will continue oil and gas projects despite US sanctions

Russia's Foreign Ministry on Saturday denounced new U.S. sanctions on Russia's energy sector as an attempt to damage the Russian economy at the risk of destabilizing global markets, saying the country is facing large-scale He said he would push ahead with oil and gas projects. The ministry statement also said Russia would respond to the […]

Iranian Engineers Caused Massive Oil Spill in Venezuela

An Iranian engineer suspected of causing an oil spill at one of Venezuela's main refineries in November helped the country's socialist government cover up the incident, Argentine news agency Infobae reported. revealed Tuesday. According to information gathered by Infobae, the oil spill occurred at Venezuela's Amuay refinery in the northwestern state of Falcón in November […]

Oil companies pay record $5.6M settlement after FTC alleges illegal coordination

The federal government announced Tuesday that three oil companies will pay record fines to resolve allegations of illegal coordination before the merger was completed. The Federal Trade Commission (FTC) announced that three companies, XCL Resources Holdings, Verdun Oil Company II, and EP Energy LLC (EP), will pay a record $5.6 million in a civil lawsuit. […]

Biden Bans Offshore Oil, Gas Drilling in Most Federal Waters as Trump Vows to Reverse It

President Joe Biden's long-threatened ban on new offshore oil and gas drilling in most of the U.S.'s coastal waters echoes President-elect Donald Trump's desire to expand offshore drilling in the name of ensuring U.S. energy independence. The move is being advanced with the aim of blocking the president's administration promises. . Trump has already made […]