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Keyword: oil

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  • New York's Global Warming Suit Against Oil Companies Tossed

    07/19/2018 1:13:56 PM PDT · by markomalley · 25 replies
    Business Week (link only) | 7/19/18 | Bob Van Voris
    Posting Bloomberg stuff is verboten on FR, so here is a link to the article
  • Of Pipelines and Alliances: President Trump at NATO

    07/16/2018 6:21:06 PM PDT · by jfd1776 · 1 replies
    Illinois Review ^ | July 16, 2018 AD | John F. Di Leo
    During the July 2018 NATO summit, elements of the USA newsmedia focused on President Trump’s accurate attacks on Western Europe’s contradictory actions and positions in the arenas of defense and commerce. What the USA newsmedia covered much less was how welcome those points were to NATO members from Eastern Europe, whose memories of Russian aggression are much more recent, perhaps, than those of Western Europe, making them as wary of these issues as Mr. Trump is. Delegates from Poland, Lithuania, and Romania, for example, appeared just as happy about Mr. Trump’s comments as delegates from England, France and especially Germany...
  • US Set to Become World's Top Oil Producer

    07/12/2018 5:51:42 AM PDT · by Hostage · 44 replies
    Newsmax ^ | July 12, 2018 | Newsmax
    The U.S. government sees oil production further climbing next year even amid transportation logjams in the country’s most prolific shale play. The Energy Information Administration sees U.S. crude output averaging 11.8 million barrels a day in 2019, up from its 11.76 million barrel a day estimate in the June outlook. “In 2019, EIA forecasts that the United States will average nearly 12 million barrels of crude oil production per day,” said Linda Capuano, Administrator of the EIA. “If the forecast holds, that would make the U.S. the world’s leading producer of crude.” U.S. crude output has remained above the 10-million-barrel...
  • India cuts Iranian oil imports in June ahead of U.S. sanctions

    07/11/2018 6:40:54 PM PDT · by Olog-hai · 4 replies
    Reuters ^ | July 11, 2018 12:14 AM | Nidhi Verma, Sai Sachin Ravikumar
    Indian refiners cut imports of Iranian oil last month as they started weaning their plants off crude from the country to avoid sanctions by the United States that are set to take effect in November. India’s monthly oil imports from Iran declined to 592,800 barrels per day (bpd) in June, down 16 percent from May, according to data from industry and shipping sources. The United States in May said it would reimpose the sanctions after withdrawing from a 2015 agreement with Iran, Russia, China, France, Germany, and Britain, where Tehran agreed to curb its nuclear activities in return for the...
  • Trump at NATO summit: 'Germany is totally controlled by Russia'

    07/11/2018 1:44:10 AM PDT · by CondoleezzaProtege · 243 replies
    CNBC ^ | July 11, 2018 | Sam Meredith, Natasha Turak
    “Germany is totally controlled by Russia … They will be getting between 60 and 70 percent of their energy from Russia and a new pipeline, and you tell me if that is appropriate because I think its not,” Trump said. The U.S. president was speaking at a press conference in front of NATO representatives ahead of a two-day summit. The Trump administration’s policies indicate it views security and trade as intimately linked. And when it comes to the trade balance, no ally will be spared. Speaking in Brussels, Belgium on the first leg of his European trip, the U.S. president...
  • The Critical Chokepoint That Could Send Oil To $250

    07/09/2018 7:48:55 AM PDT · by bananaman22 · 31 replies
    Oilprice.com ^ | 07-09-2018 | Irina
    Crude oil prices could jump as high as US$250 a barrel if Iran goes through with its threat to close the Strait of Hormuz in response to U.S. pressure on oil buyers to cut their Iranian purchases to zero, RT reports, quoting analysts. The most bullish among these analysts was Artem Avinov from online broker TeleTrade, who saw prices skyrocketing to US$250 a barrel if the Strait of Hormuz is blocked, disrupting about 17 million bpd in seaborne oil trade. Avinov, however, added that this course of events is very unlikely, suggesting Iran would instead opt for “a quick economic...
  • Why Iran Is Threatening to Close the Strait of Hormuz

    07/07/2018 7:22:25 AM PDT · by artichokegrower · 35 replies
    RealClearDefense ^ | July 06, 2018 | Stratfor Worldview
    Highlights Facing the imminent reinstatement of U.S. oil sanctions, Iran is threatening to close the Strait of Hormuz, which would shut down the region's oil trade. Iran has made this threat before and has never followed through, since actually shutting down the strait would be a drastic and damaging move for the country. The tough rhetoric is more than likely to be followed up by more mild retaliation attempts, such as the harassment of vessels in the Strait of Hormuz.
  • Trump Should Release SPR Oil Reserves on Monday

    07/02/2018 1:21:48 PM PDT · by FreedomNotSafety · 48 replies
    The speculators are at it again in the oil market, pushing up prices beyond the fundamentals.
  • Confirmed: ISIS Sold Oil To Assad & Turkey

    07/02/2018 10:12:46 AM PDT · by bananaman22 · 5 replies
    Oilprice.com ^ | 07-02-2018 | Para
    Islamic State was selling oil and gas to the Syrian regime and to Turkey, while the militants were ruling over large areas in Syria and Iraq over the past three years, a senior ISIS commander said in an interview with the Kurdistan 24 news outlet on Sunday. “Oil and gas obtained by the Islamic State was sold to Turkey and the Syrian regime,” Razeek Radeek Maksimo, an Azerbaijani national and formerly senior ISIS commander, told Kurdistan 24 from a prison in Rojava where he is held by Syrian Kurdish authorities.
  • Trump Admin. Calls on U.S. Allies to End Oil Imports From Iran by November 2018

    06/26/2018 9:54:28 AM PDT · by Eddie01 · 9 replies
    Haaretz ^ | Jun 26, 2018 | Amir Tibon
    WASHINGTON - The Trump administration is asking U.S. allies around the world to lower their level of oil imports from Iran to zero by November 4th of this year, a senior U.S. Official said on Tuesday. The official added that the administration isn't planning to produce any waivers that will exclude certain countries or companies from this requirement. "We are pushing allies to cut oil imports to zero by November," the senior official said. "We view this as one of our top national security priorities." Talks on this demand have been ongoing for recent weeks, but the senior official said...
  • Federal Judge Dismisses Cities’ Suit Against Oil Companies Over Costs of Climate Change

    06/26/2018 4:45:53 AM PDT · by reaganaut1 · 12 replies
    New York Times ^ | June 25, 2018 | John Schwartz
    A federal judge on Monday threw out a closely watched lawsuit brought by two California cities against fossil fuel companies over the costs of dealing with climate change. The decision is a stinging defeat for the plaintiffs, San Francisco and Oakland, and raises warning flags for other local governments around the United States that have filed similar suits, including New York City. The judge, William Alsup of Federal District Court in San Francisco, acknowledged the science of global warming and the great risks to the planet, as did the oil and gas companies being sued. But in his ruling, Judge...
  • OPEC ministers strike deal to increase oil production

    06/22/2018 7:19:14 AM PDT · by GonzoII · 6 replies
    CNBC ^ | 1 Hour ago
    OPEC ministers announced a deal on Friday that will increase oil supplies from the producer group, which has been capping output in order to balance the market and boost prices for the last 18 months. The agreement came after a week of tense negotiation at OPEC's headquarters in Vienna, Austria. Top OPEC producer Saudi Arabia faced the challenge of convincing a handful of reluctant producers including Iran, Iraq and Venezuela to support an output hike. In the end producers agreed to start pumping more so that they are no longer overshooting the target they set in November 2016. Then, the...
  • The Kremlin stresses Nord Stream-2 gas pipeline project is purely commercial, not political

    06/18/2018 6:49:45 AM PDT · by CondoleezzaProtege · 17 replies
    TASS ^ | June 18, 2018
    Nord Stream-2 includes construction of two lines of a gas pipeline with a total capacity of 55 bln cubic meters of gas per year from the Russian coast through the Baltic Sea to Germany. The gas pipeline will bypass the transit states - Ukraine, Belarus, Poland and other Eastern European and Baltic countries - through the exclusive economic zones and territorial waters of five states - Russia, Finland, Sweden, Denmark and Germany. Nord Stream-2 gas pipeline project is purely commercial, not political, and attempts to counter its implementation violate the rules of free competition, Russian presidential spokesman Dmitry Peskov said...
  • Russia, South Korea Revive Talks To Build Gas Pipeline Via North Korea

    06/17/2018 10:41:10 PM PDT · by CondoleezzaProtege · 10 replies
    Oilprice.com ^ | June 2018 | Tsvetana Paraskova
    Russian gas giant Gazprom has resumed talks with South Korea over a decade-old idea to build a gas pipeline from Russia’s Far East to South Korea through North Korea, Vitaly Markelov, Deputy Chairman of Gazprom’s Management Committee, said on Friday. “To date, the political situation has been somewhat different, and the South Korean side has asked Gazprom to resume the project, and a series of talks has been held on this issue, and these talks are continuing." “The ideas behind the pipeline look very difficult to implement, especially given the complex political-military context continuing on the Korean peninsula, and the...
  • Poland Confident of Completing Gas Link to Norway by 2022

    06/17/2018 6:52:08 AM PDT · by CondoleezzaProtege · 4 replies
    Rigzone ^ | June 2018 | Reuters
    Poland is confident of meeting a 2022 deadline for completing a new Baltic Sea gas pipeline to Norway,which will connect Poland to Norwegian gas deposits via Denmark and aims to reduce Polish reliance on Russian gas. Construction of the pipeline, with capacity of 10 billion cubic metres per year, is set to begin in spring 2020. Polish state-run gas firm PGNiG buys most of the gas Poland consumes from Russia's Gazprom under a long-term deal set to expire in 2022. Poland does not intend to extend the contract beyond that date. In other attempts to diversify sources of supply, Poland...
  • Pope Ignores Fossil Fuels’ Essential Role in Human Flourishing

    06/16/2018 4:44:26 AM PDT · by GonzoII · 28 replies
    Heartland.org ^ | June 15, 2018 | H. Sterling Burnett
    It seems Pope Francis has learned little since his 2015 encyclical calling on the world to fight climate change by limiting the use of modern technologies and fossil fuels. He called many of the world’s leading oil companies to the carpet last week in a meeting he “requested” (anyone who says no to a meeting with the pope risks alienating many of the world’s estimated 1.3 billion Catholics) with the companies’ top executives. Francis called on the oil companies to shift from fossil fuels to renewable energy sources, to save the Earth. In a column written when Francis issued his...
  • Trump opposes Nord Stream II Gas Pipeline, questions Germany

    06/13/2018 1:57:23 PM PDT · by CondoleezzaProtege · 33 replies
    Anadolu Energy Agency ^ | Apr 2018 | Murat Temizer
    The U.S. President Donald Trump objected to the Nord Stream II natural gas pipeline to carry Russian gas to Germany through the Baltic Sea prior to a working lunch with the heads of the Baltic States. In April, Trump met with the presidents of Lithuania, Latvia and Estonia in the White House to discuss energy and security issues. "Germany hooks up a pipeline into Russia, where Germany is going to be paying billions of dollars for energy into Russia," said Trump and added, "And I’m saying, “What’s going on with that? How come Germany is paying vast amounts of money...
  • US about to slap disobedient European firms with sanctions over Russian gas project

    06/11/2018 12:54:11 PM PDT · by CondoleezzaProtege · 18 replies
    RT ^ | June 2018 | Jonathan Ernst
    The White House is on the verge of introducing penalties against companies engaged in the construction of the Nord Stream 2 gas pipeline, which will deliver Russian natural gas to the EU across the Baltic Sea. Apart from Russian state-owned energy giant Gazprom, the project is being undertaken by German energy firms Wintershall and Uniper, French multinational Engie, British-Dutch oil and gas giant Royal Dutch Shell, and Austrian energy company OMV. Initially, Gazprom's European partners were planning to become stakeholders in the Nord Stream 2 AG, which is registered in Switzerland. However, the Office of Competition and Consumer Protection, Poland’s...
  • The Dakota Access Pipeline Just Celebrated One Year Of Operation

    06/07/2018 6:50:52 AM PDT · by SeekAndFind · 22 replies
    Hotair ^ | 06/06/2018
    Last Friday the Dakota Access Pipeline celebrated one year in operation. We’re a long way from the battles between “water protectors” and police that seemed to preoccupy the media for so many months. From Forbes: DAPL has been quietly transferring crude oil from the Bakken fields in North Dakota at a rate of over 500,000 barrels per day. That has helped bolster North Dakota’s daily production numbers. According to the North Dakota’s Department of Mineral Resources, North Dakota production hit 1.16 million barrels per day in March, thanks in large to part to DAPL…The Dakota Access Pipeline’s safety record...
  • It’s Time for a Coup in Venezuela

    06/06/2018 6:36:43 AM PDT · by Red Badger · 27 replies
    foreignpolicy.com ^ | June 5, 2018, 5:22 PM | By José R. Cárdenas
    Now that Venezuelan autocrat Nicolás Maduro has engineered his re-election in what reasonable observers have decried as a sham vote, it’s impossible to say how long he will remain in office. But the United States and its allies should lay the groundwork for the remaining portions of the Venezuelan government not beholden to Maduro to take the choice out of his hands. Nearly two decades of creeping authoritarianism and large-scale economic mismanagement have taken a staggering toll on Venezuelans. Moreover, with reports of low voter turnout in an otherwise stage-managed electoral process and rising military dissension, clearly the Maduro regime...