Tag: Oil

A worker at the China Petroleum & Chemical Corp. (Sinopec) Yanshan refinery escorts journalists in Beijing.

China Blinks in Trade War, Drops Oil from Retaliatory U.S. Tariff List

The latest broadside fired by China in its trade war with the United States was a list of $16 billion in American imports subjected to a 25 percent retaliatory tariff. One major item that was supposed to be on the list was quietly removed: oil. Analysts wonder if this conspicuous omission is a sign China is blinking in its economic staredown against the Trump administration.

FILE - In this Aug. 16, 2017, file photo, a construction worker waits to cross an intersection near buildings under construction in the central business district of Beijing. The World Inequality Report 2018 released Friday, Dec. 15, 2017, is based on a massive collection of data compiled by an international …

China’s State-Run Firms Make Big Money in the South China Sea

China’s aggressive territorial claims in the South China Sea are generally viewed in the context of a security threat to the freedom of navigation and political warfare against Asian nations with competing territorial claims, but a report published this week by the ISEAS Yusof Ishak Institute of Singapore reveals a massive cash grab as well. China’s state-controlled industries are planning to make a great deal of money from those disputed islands and reefs.

Iranians burn US flags outside the former US embassy in Tehran on November 4, 2013, during a demonstration to mark the 34th anniversary of the 1979 US embassy takeover. Thousands of Iranians shouted 'Death to America' as they demonstrated 34 years after Islamist students stormed the embassy compound in Tehran, …

Iran Vows ‘Equal Countermeasures’ Against U.S. if Oil Exports Blocked

Iran’s Foreign Ministry spokesman Bahram Qassemi threatened on Tuesday that Iran will respond to the United States with “equal countermeasures from Iran” if America moves to block the Islamic Republic’s oil exports by the Trump administration’s promised November 4 deadline.

Though it faces tougher U.S. sanctions, Iran says its revenue from crude oil sales are increasing because of improved market conditions. File Photo by William S. Stevens/U.S. Navy

Mnuchin: U.S. Willing to Consider Waivers for Iran Oil Sanctions

U.S. Treasury Secretary Steven Mnuchin said on Friday the United States will consider waivers for some countries that need more time to stop importing Iranian oil to avoid disrupting global oil markets. Reuters, which reported his remarks, said they were embargoed for release until Monday.

After his March re-election, Russian President Vladimir Putin issued a decree setting targets for his next six years in power, including halving the country's poverty rate, increasing pensions and boosting the average life expectancy

Sanctions Relief: Iran Says Russian Firms Could Replace Western Oil Companies in Iran

Iran’s special envoy Ali Akbar Velayati said Thursday that Russian President Vladimir Putin announced Kremlin plans to invest up to $50 billion in Iran’s oil and gas sector, and noted that Russian firms could replace Western oil companies that have left or are leaving Iran to comply with President Donald Trump’s demands that nations stop importing Iranian oil by November 4 or face sanctions.

Iranian clerics standing in front of the "Jamran", Iran's first domestically built warship, during naval maneuvers in the Gulf on February 21, 2009. Iran's navy on February 19 launched in the Gulf its first domestically made destroyer in a ceremony attend by the supreme leader and the commander-in-chief Ayatollah Ali …

Iran Threatens to Block Key Gulf Passage over Trump Sanctions

Iran has threatened to block the Strait of Hormuz – a key Gulf passage for shipments of commodities – over Washington threatening to sanction any country that fails to stop importing oil from the Islamic Republic by November 4.

Donald Trump, Melania Trump

Winning! OPEC Bows to Trump’s Demand for Cheaper Oil

On June 13, Trump tweeted, “Oil prices are too high, OPEC is at it again. Not good!” Nine days later, OPEC agreed to produce hundreds of thousands of additional barrels of oil per day.

President Donald Trump meets with Saudi Crown Prince Mohammed bin Salman in the Oval Office of the White House, Tuesday, March 20, 2018, in Washington. (AP Photo/Evan Vucci)

Trump’s Tweet Got Saudi Arabia to Drop the Price of Oil

Trump is one of the few politicians in Washington, D.C. who has exhibited an understanding of how global oil prices are set. The Saudis do not sell at spot prices like the rest of the world’s oil producers. Instead, they post their prices to refiners and then fill all orders at the set price.

Chevron Bets on West Texas

Trump Ended the Iran Nuke Deal and Oil Prices Declined

When Trump said he was considering ending the Iran nuclear deal and reimposing sanctions, many said he would cause an unwanted spike in oil. When he finally ended the nuke deal Tuesday, that didn’t happen at all.

FILE - This June 27, 2017, file photo shows an oil rig at sunset in Midland, Texas. President Donald Trump relentlessly congratulates himself for the healthy state of the U.S. economy, with its steady growth, low unemployment, busier factories and confident consumers. But in the year since Trump’s inauguration, most …

Saudis Planning $10B Investment in Texas

Saudi oil executives inked multi-billion dollar deals with companies to explore building petrochemical facilities along the Texas Gulf Coast. Essentially, they hope to capitalize on the U.S. oil and gas boom, largely fueled by shale drilling in the Permian Basin.

Iran's Oil Minister Bijan Namdar Zanganeh (C) speaks to journalists as he attends the 173rd OPEC Conference of Organization of the Petroleum Exporting Countries (OPEC) in Vienna, on November 30, 2017. ?The OPEC will discuss a possible extension beyond March of its pact with Russia and other major oil producers …

Iran Minister Blasts Trump Over Oil and Gas Contracts

TEHRAN – Iran’s oil minister lashed out at the United States on Sunday, saying that hostile comments by President Donald Trump had torpedoed new oil and gas contracts for the Islamic republic.