West 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 ReadingWeekly Daily Standup Top Stories Musk gains ‘full access’ to US Treasury system February 2, 2025 Mariel Alumit Elon Musk’s Department of Government Efficiency (DOGE) has been granted full access to the US Treasury Department’s payment system, according to reports from The New York Times and The Wall Street Journal. Historically, access to […] Russian gas exports […]
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 ReadingDaily Standup Top Stories China to impose tariff on US LNG February 4, 2025 Mariel Alumit China’s Ministry of Finance said in a statement on Tuesday that the US government announced on February 1 the imposition of a 10 percent tariff on all Chinese goods exported to the US, citing fentanyl […] Trump demands rare-earth metals from […]
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 […]
Continue ReadingShipping companies from Western countries sold off discarded oil tankers that became part of Russia’s shadow fleet, according to a joint report by investigative news media from several European countries. According to the cross-country investigation \”Shadow Fleet Secrets\” published by news outlets from Germany, Belgium, Norway, Denmark and the United Kingdom on Tuesday, about […]
Continue ReadingDaily Standup Top Stories Tariffs on Oil Are a Major Problem for U.S. Refiners February 3, 2025 Mariel Alumit US tariffs on Canadian and Mexican imports will add to the financial burden of US refiners struggling with declining profit margins. Canada may divert oil exports to Asia due to the tariffs, while Mexico could […] USAID tried […]
Continue ReadingThe biggest refinery in southern Russia and a major gas processing plant controlled by Gazprom were hit by a massive attack of Ukrainian drones on Monday, officials from Ukraine and Russia said. Lukoil’s refinery in Volgograd, which is southern Russia’s biggest with 300,000-bpd processing capacity, was hit, regional governor Andrey Bocharov said on Telegram. “As a result of the […]
Continue ReadingUS tariffs on Canadian and Mexican imports will add to the financial burden of US refiners struggling with declining profit margins. Canada may divert oil exports to Asia due to the tariffs, while Mexico could retaliate with limitations on oil supplies to the US. Industry leaders warn that the tariffs could ultimately benefit Asian refiners […]
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