The judge ruled the 2023 Gulf lease sale violated environmental law by ignoring climate, CO2 emissions, and whale impacts. A federal district judge has issued a ruling against a Gulf [oil and gas] lease sale conducted by the Biden administration in 2023, saying the Interior Department was in violation of the Environmental Policy Act by […]
Continue ReadingOil headed for a third weekly advance as the market braces for more tariffs from the Trump administration. Brent traded near $74 a barrel after closing 0.3% higher on Thursday, while West Texas Intermediate was close to $70. Tariffs on auto imports and so-called reciprocal levies are among US measures due next week, part of a developing global trade war. Oil traders […]
Continue ReadingBrazilian offshore driller Constellation Oil Services has won a contract from compatriot oil and gas giant Petrobras for jackup rig work. The company said it was declared the winner of a recent tender and that the deal was awarded to the Admarine 511 jackup, owned by its commercial partner ADES. The unit shall be used […]
Continue ReadingHouston-based offshore contractor McDermott has been selected by UK supermajor Shell for an enterprise framework agreement for engineering and procurement services and integrated project management team services. McDermott said that the agreement has a duration of three years with two one-year optional extensions. The scope of the agreement encompasses the full suite of McDermott’s offerings […]
Continue ReadingDaily Standup Top Stories Who, How much, and what are coutries investing in the U.S. since President Trump took office? March 25, 2025 Clark Savage If you have any questions about how regulatory actions can kill an economy or investments, look at what is happening in the United States after President Trump took office. Confirmed Foreign […]
Continue ReadingCrude oil prices have risen to a three-week high due to a larger-than-expected drop in U.S. oil inventories reported by the American Petroleum Institute. President Trump’s threat of tariffs on countries importing Venezuelan crude has led to a slowdown in loadings at Venezuelan ports, further tightening the global supply. While sanctions are pushing prices up, […]
Continue ReadingChina, the biggest buyer of oil from Venezuela, saw trade with Venezuela stall on Tuesday after U.S. President Donald Trump threatened on Monday 25% tariffs on the goods of any country buying Venezuelan oil. Traders and refiners in China were caught off guard by Monday’s executive order and are waiting to see whether Beijing will have some […]
Continue ReadingIraq approved BP’s $25B contract to develop key Kirkuk oil fields. The Western megadeals may stabilize Iraq’s oil ambitions and play a role in softening Baghdad–Erbil tensions. The BP deal signals a potential resurgence of Western influence in Iraq’s energy sector. Iraq’s Council of Ministers last week approved the final version of BP’s US$25 billion+ […]
Continue ReadingMette Frederiksen, head of research and insight at Tankers International, on the future of the VLCC trades. The VLCC market is changing significantly. While the global fleet continues to grow with the introduction of newbuilds, the ageing vessels in operation are losing efficiency, therefore slowing the actual growth of tonnage supply. Adding to this shift […]
Continue ReadingU.S. President Donald Trump has announced that any country that buys oil or gas from Venezuela will pay a 25% secondary tariff on trades with the United States, Reuters reported on Monday, with Trump claiming that Venezuela has sent \”tens of thousands\” of people to the U.S. who have a \”very violent nature. Earlier this month, Chevron Corp. (NYSE:CVX) […]
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