Venezuelan dictator Nicolás Maduro vowed to continue selling oil to the United States on Friday soon after severing diplomatic ties with U.S. President Donald Trump’s administration, claiming Caracas’ feud is with Washington, not the American people.
China is taking advantage of waivers from Iran sanctions granted by the United States to pitch a $3 billion oil field development to Iran, even as European nations are halting their purchases of Iranian crude.
President Donald Trump has been busy this year reversing many of the burdensome and harmful energy regulations of the Obama era.
Venezuela will assume the presidency of the Organisation of the Petroleum Exporting Countries (OPEC) next year, leading the world’s oil industries as its own collapses.
The Venezuelan Navy illegally entered the waters of Guyana this weekend and forced a ship contracted by Exxon Mobil to conduct oil research in the area to vacate, claiming that Guyana’s permission to explore its sovereign territory was not enough for the ship to be legally present in the water.
BAGHDAD, Iraq — U.S. Energy Secretary Rick Perry said Tuesday Iraq should partner with American companies to become energy independent, as Baghdad’s waiver from US sanctions on Iran nears its expiry.
Venezuela is now importing 300,000 barrels of oil a day to ease domestic fuel shortages, despite having the world’s largest crude oil reserves.
The U.S. Department of the Interior announced Thursday the Permian Basin’s Wolfcamp shale and Bone Spring formation spanning parts of West Texas and eastern New Mexico hold the largest potential oil and gas resources ever discovered. Federal surveyors note the Bone Spring plays could offer roughly seven times the amount of oil as the Bakken shale in North Dakota.
The root of Israel’s enduring significance to the U.S. is found in the fact that the Jewish state shares all of America’s core interests in relation to the region.
Contents: Socialist Venezuela oil production in ‘free fall’ as infrastructure collapses; Russia rebukes Venezuela for non-payment
Allies of French president Emmanuel Macron say they have yet to grasp why protesters are “seething anger” over the government’s plans to hike gas prices, while one lawmaker worries the “crisis” runs deeper than the cost of fuel.
Trump’s oil price tweet and a glut of supply amidst weakening global demand have crushed the price of oil.
Iranian President Hassan Rouhani gave a nationally televised speech on Monday in which he vowed to continue oil exports in defiance of U.S. sanctions and condemned America’s “psychological war” against his regime.
Autos and mining were weak in October but oil and gas drilling rebounded.
Trump once again shows that he can send oil prices lower simply by tweeting.
Iranian Rear Admiral Mahmoud Mousavi on Monday responded to U.S. warnings that Iran’s oil tankers are a “floating liability” by promising to protect them with military force.
Russia and South Korea both announced plans this week to continue doing business with Iran despite the heavier round of U.S. sanctions that went into effect on November 5.
Chinese officials and state-run media denounced the new round of U.S. sanctions against Iran after they took effect on Monday, accusing the Trump administration of “bullying” Tehran and vowing to continue purchases of Iranian oil.
Iranian President Hassan Rouhani was defiant and belligerent in the face of new U.S. sanctions in remarks aired by Iranian state television on Monday.
The president’s Twitter account posted a “Sanctions are coming” meme on Friday, playing on the popular Game of Thrones “Winter is coming” meme.
The United States is pumping record amounts of oil, vaulting over Russia to become the world’s biggest producer of crude.
Iranian Foreign Minister Mohammed Javad Zarif admitted in a CBS News interview on Sunday that U.S. sanctions have “hurt” Iran – by which he meant they are making the Iranian people suffer – but insisted sanctions can never induce the Iranian regime to change its behavior.
Lifting the summer cap on ethanol puts the administration at odds with the oil industry and environmentalists.
The Federal Reserve Bank of Dallas announced this week that the oil and gas industry remained strong in the third quarter of 2018. The good news came amid pipeline capacity concerns in the Permian Basin.
Both U.S. President Donald Trump and Iranian President Hassan Rouhani said on Monday they have no plans to meet at the U.N. General Assembly, refuting speculation that a summit meeting between the two might occur.
In an interview with Lester Holt of NBC Nightly News to be aired on Monday night, Iranian President Hassan Rouhani predicted U.S. sanctions would be unable to paralyze Iran’s oil industry or inflict enough economic damage to jeopardize the survival of his government.
TEHRAN, Iran — Iran’s oil minister says the United States will not succeed in its plans to halt Iranian crude exports even as he acknowledged that South Korea has stopped buying oil from Tehran.
The collapse of the rial currency and the looming threat of U.S. oil sanctions, scheduled to take hold in November, are reportedly leading Iran to turn to China for help keeping their economy afloat. A report Thursday suggests that China, itself struggling amid U.S. tariffs, may not be looking to save Iran and is diminishing its imports of Iranian oil.
Contents: US court seizes Socialist Venezuela’s Citgo as compensation for mine nationalization; Argentina’s peso collapses after central bank raises interest rate to 60%; Turkey and Argentina lead the world’s developing countries in falling currencies
The City Council of Los Angeles voted Tuesday to rename Rodeo Road — not to be confused with the more famous and posh Rodeo Drive in Beverly Hills — after former President Barack Obama.
Secretary of State Mike Pompeo on Monday evening dismissed Iran’s claim to control the Strait of Hormuz and the entire Persian Gulf. Pompeo promised that the United States would continue to protect freedom of navigation in those international waterways.
Brian Hook, State Department director of policy planning and head of a special action group on Iran created this week, told a press conference on Thursday that China will not be exempt from penalties if it continues buying Iranian oil after the second, and much more strict, rounds of renewed U.S. sanctions on Iran go into effect in November.
The Chinese economy continues to show signs of cooling as the trade war between the nation and the United States heats up.
Leaders of five Caspian Sea nations — Russia, Kazakhstan, Iran, Azerbaijan, and Turkmenistan — reportedly signed a historic agreement on Sunday that aims to settle a longstanding dispute over ownership of oil and gas reserves on the landlocked body of water.
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.
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.
Contents: Attacks on Saudi tankers expose twin Iran military threats to international oil shipments; US considers military options for Hormuz and Bab al-Mandeb
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.
Iran filed a lawsuit against the United States on Monday at the International Court of Justice (ICJ) over Washington’s reimposition of sanctions on the Islamic Republic.
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.