Category: Crude Oil News

Alaska to Get $54 Billion Korean LNG Investment: The Long-Stalled Project, Who’s Involved, and Why It Matters for Midterms, Energy Security, and the Entire United States

Clark Savage104

President Donald Trump is set to unveil a major South Korean investment package that includes roughly $54 billion directed at Alaska’s long-planned liquefied natural gas (LNG) project, according to White House officials and multiple reports. The announcement, expected in the Oval Office, is the first major tranche from South Korea’s broader $200 billion in U.S. […]

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President Trump’s 2026 Jones Act waivers moved tens of millions of barrels of U.S. energy that the domestic fleet could not carry. Freight savings are real but modest on a national scale; the larger story is avoided shortages, reopened domestic routes, and a live stress test of a 1920 law that left the United States with too few ships.

Clark Savage228

On March 17, 2026, the Department of Homeland Security issued the longest and broadest Jones Act waiver since at least 1950, covering energy commodities and fertilizer inputs. The waiver was extended twice and now runs through November 15, 2026, with a narrower product list and voyage-by-voyage review after August 17. The Cato Institute’s Jones Act […]

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ExxonMobil and SOCAR have moved from study agreements to a 50/50 production-sharing contract for unconventional oil and gas in Azerbaijan’s Middle Kura Basin.

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The deal, exchanged on September 26, 2026, at the Second Azerbaijan International Investment Forum in the presence of President Ilham Aliyev, makes ExxonMobil the operator and still needs parliamentary ratification. It is the first time a U.S. supermajor has taken operatorship of an onshore unconventional program in Azerbaijan. The country has spent three decades built […]

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Iran-Linked Oil Tankers Seized by US Navy Now Headed to U.S. Coast

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Three sanctioned tankers carrying nearly six million barrels of Iranian crude—valued at roughly $600 million—are crossing the Atlantic toward the United States, according to vessel-tracking data from TankerTrackers and Kpler. The ships, Majestic X, Tifani, and Lenore, were seized months ago in the Indian Ocean as part of a broader U.S. campaign against Iran’s sanctions-evading […]

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Why Are Global Diesel Prices So High? Exhibit A: Ukraine Drone Hits Novoshakhtinsk Refinery

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A Ukrainian drone strike on Friday forced Russia’s Novoshakhtinsk refinery in the Rostov region offline, according to regional governor Yury Slyusar. The plant, which processes about 110,000 barrels per day (roughly 5–5.6 million tons per year), is not one of Russia’s giants. It is, however, a clean illustration of why diesel—the workhorse fuel for trucking, […]

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