BP (NYSE: BP) on Tuesday pledged to fundamentally reset its strategy as it booked its lowest annual and quarterly profits in years and seeks to push up its stock performance and regain investor trust. “Building on the actions taken in the past 12 months, we now plan to fundamentally reset our strategy and drive further […]
Continue ReadingCrude has six times more water than industry standard Pemex was hit with complaints and demands for discounts US oil refiners along the Gulf Coast are snubbing shipments from Mexico and instead turning to Colombia and Canada amid complaints that Petroleos Mexicanos is increasingly delivering crude that’s unfit to make gasoline and diesel. Refiners in Texas and […]
Continue ReadingThe new U.S. Administration’s maximum pressure campaign on Iran will fail – again – and will not achieve its goal to drive the Islamic Republic’s oil exports to zero, Iran’s Oil Minister Mohsen Paknejad said this weekend. “The maximum pressure policy has failed, and (Trump\’s) dream of reducing Iran’s oil exports to zero will never […]
Continue ReadingCargo ships could reportedly be impounded on grounds of supposed piracy and the threat of environmental incidents Several EU members are considering strengthening the legal framework for seizing ships in the Baltic Sea with the aim of undermining Russian trade, Politico reported on Monday, citing insiders. Finland, Estonia, Lithuania, and Latvia are allegedly seeking […]
Continue ReadingWest Texas Intermediate has been trading around $70 this week after posting two weeks of declines. The last time shale producers pursued a flat-out production strategy, crude prices tanked to the $40s. Cheap oil may turn out to be one promise Trump can’t keep—because it’s not entirely up to him. President Trump declared a national […]
Continue ReadingTrump\’s Interior plans to reopen oil and gas leasing on 625M acres, boosting energy, cutting regs, and expanding resource production. The Trump administration is reopening oil and gas leasing across hundreds of millions of acres of federal lands and waters that the Biden administration locked up. [emphasis, links added] In a series of orders Monday […]
Continue ReadingThe U.S. president signed a memo directing agencies to enforce existing sanctions on the country, but his statements suggest he’s open to talks. U.S. President Donald Trump announced on Feb. 4 a return to the maximum pressure campaign on Iran, which is meant to starve the regime of cash as a way to curb its […]
Continue ReadingDenmark has taken its next step in cracking down on Russian-linked shadow tankers passing through its waters The Danish Maritime Authority will carry out port state controls on tankers it deems high risk who anchor off Skagen in the far north of the country, a popular anchorage. Ships found with safety defects or not having […]
Continue ReadingOffshore drilling giant Noble Corporation has won a new contract for one of its semisubmersible rigs in the Americas. Energy giant Shell awarded a contract to the 2009-built Noble Developer semisub. The deal is for a fixed duration of 180 days and is expected to commence in the third quarter of 2026. According to the […]
Continue ReadingEuropean and American shipowners have pocketed at least $6.3bn from selling hundreds of ageing tankers on to shell companies, from where they make their way into the shadow fleet, a new probe carried out by the Organized Crime and Corruption Reporting Project (OCCRP) and investigative journalists from Follow the Money has revealed. The report tracks […]
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