White House keeps mum over cutting off Iran oil money: ‘Nothing to share’
White House press secretary Karine Jean-Pierre and NSC strategic communications coordinator John Kirby speak to the press. source
Biden Needs to Push Senate on Sanctioning Iranian Oil
On Tuesday’s broadcast of FOX News Channel’s “America Report,” Rep. Mike Lawler (R-N.Y.) urged President Joe Biden to finally enact legislation in the Senate to crack down on Iranian oil sales to China. He urged them to do so. Mr Lawler said: [relevant remarks begin around 1:40] “Look, for me, I think we are in […]
UK ‘reserves right to respond’ after oil tanker set alight off Yemen | Yemen
The British government said the UK and its allies “reserve the right to respond as appropriate” after an oil tanker crashed and burst into flames off the coast of Yemen. Yemen's Houthi rebels have claimed that the country's navy carried out an operation in the Gulf of Aden targeting a ship they called the British […]
Greed is good? Not in the oil industry.
Many of us remember the 1987 movie “Wall Street.” In the film, fictional corporate raider Gordon Gekko declares: “Greed is good” In his view, greed will not only save companies, it will also save America. This statement is ironic, but it could be true. Industry greed becomes beneficial when it aligns perfectly with the public […]
Russia-Ukraine war live: Kyiv accused of drone attack on Russian oil depot in Klintsy | Ukraine
important events Show only major events Please turn on JavaScript to use this feature This is a photo sent to us via wire from Ukraine. A Ukrainian woman carries humanitarian aid and food distributed by volunteers in Donetsk Oblast on January 18. Photo: Anadolu/Getty Images A Ukrainian girl sits on a swing waiting for humanitarian […]
‘Massive Blaze’ After Ukraine Drone Attack on Oil Depot Inside Russia
Associated Press – A Ukrainian drone struck an oil depot in western Russia on Friday, causing a massive fire, officials said. Kiev forces appear to have expanded their attacks on mainland Russia ahead of the second anniversary of the war. The local governor said four oil reservoirs with a total capacity of 6,000 cubic meters […]
Extreme cold hampers North Dakota oil production; 60 spills reported in past week
Regulators say severe cold weather has caused a spate of spills and slowed production at oil fields in North Dakota. North Dakota has experienced several days of frigid weather, with wind chills and temperatures reaching -70 degrees in the Bakken oil field. Regulators say this puts strain on workers and equipment and could lead to […]
Surprise Build In Crude Oil Inventories Weigh On Prices – OilPrice.com
U.S. crude oil inventories rose by 483,000 barrels this week for the week ending Jan. 12, after analysts had expected 2.4 million barrels, according to the American Petroleum Institute (API). API reported that crude oil inventories decreased by 5.215 billion barrels in the previous week. On Tuesday, the Department of Energy (DoE) reported that crude […]
Iran Sanctions ‘Have Not Been Enforced’ and Russian Oil Still Gets to Market
Chevron CEO Mike Wirth said on CNBC's “Squawk Box” on Tuesday that “Russian crude remains on the market” despite sanctions against Russia. He added that “sanctions imposed on Iran have not been implemented.” Wirth said, “Gasoline prices in the United States are determined by supply and demand and competition. It's not set by the president […]
Chevron CEO says Red Sea risk to oil ‘very real’
The CEO of oil giant Chevron said on Tuesday that ongoing tensions in the Red Sea are causing an “extreme impact” on oil flows and prices as Yemen's Houthi rebels step up attacks on Israel and commercial shipping in the region. It warned that it posed a “real” risk. Question from CNBC Regarding the impact […]