Tuesday, August 4, 2020

Trump Administration News

US Approves LNG Exports from Oregon

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The U.S. Energy Department on Monday approved the export of up to 1 billion cubic feet per day of liquefied natural gas from a proposed terminal in Oregon, a move it said would ease U.S. sales of the fuel to Asian markets.The approval advances…

Third Iranian Fuel Cargo Approaches Venezuela

File photo of oil tanker Petunia (© Mahdi Elhaki / MarineTraffic.com)

The third cargo of an Iranian tanker flotilla carrying fuel for gasoline-thirsty Venezuela on Tuesday reached the nation's exclusive economic zone as the previous two were discharging at state run PDVSA's ports, according to Refinitiv Eikon…

Iranian Tanker Docks in Venezuela

Iranian tanker Fortune file photo (© Rutger Hofma / MarineTraffic.com)

The first of five Iranian tankers carrying fuel to Venezuela has moored at a port serving the El Palito refinery, the oil minister said on Monday, and Refinitiv Eikon data showed a second vessel had entered its waters.Iran is providing Venezuela…

US Grants Royalty Relief to Hard-hit Drillers

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The Trump administration has granted royalty relief to several drilling companies producing oil and gas on federal lands in recent weeks, according to a government database, as the industry seeks help weathering low energy prices.The move…

Venezuelan Oil Exports Rose in April

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Venezuela's oil exports ticked higher in April after falling in March to their lowest average in seven months, helped by new trading partners that were re-selling cargoes in Asia, according to documents from state-run PDVSA and vessel tracking…

OPINION: Drowning in Oil, Regulatory Measures to Keep Prices Afloat

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These days history seems to be in the making on a daily basis. On April 20, 2020, the price of the NYMEX West Texas Intermediate Sweet Crude Oil (WTI) futures contract for May delivery plunged into the negative, forcing sellers to actually…

Oil Prices Fall as Demand Woes Eclipse U.S. Stimulus

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Oil prices slipped into negative territory on Wednesday as faltering fuel demand from the spread of the coronavirus outweighed a massive pending U.S. economic stimulus package.Brent crude was down 45 cents, or 1.66%, at $26.70 per barrel at 1029 GMT after earlier rising to a high of $28.29.U.S.

Oil, Fishing, Tourism: Alaska Economy Faces Triple Hit from Coronavirus

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The U.S. state of Alaska is so far distant from the worst medical ravages of the coronavirus pandemic, but its economy is in critical condition. Alaska is especially vulnerable because it depends on oil, tourism and fisheries – basic industries…

US to Warn Shipping Industry Against Storing Iranian Oil

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The Trump administration will soon issue an advisory warning ports, tankers and shipping industry players against storing Iranian oil in violation of U.S. sanctions, a State Department official said on Monday.David Peyman, the deputy assistant…

ExxonMobil Calls for Tighter Methane Regulations

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ExxonMobil on Tuesday called for tighter regulation of the greenhouse gas methane and offered up its own in-house rules as a model for companies and lawmakers worldwide.The largest U.S. oil company laid out the guidelines it follows - some…

USA Ups BOEM Offshore Wind Budget

Image: BOEM

The Trump Administration has proposed a $189m fiscal year 2021 budget for the Bureau of Ocean Energy Management (BOEM), designating just under $27m for offshore wind.The FY 2021 budget includes approximately $26.5 million to advance offshore…

Oil Jumps After US Kills Iran's Soleimani

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Oil prices jumped more than $3 on Friday after a U.S. air strike in Baghdad ordered by President Donald Trump killed the head of Iran's elite Quds Force, sparking concerns for an escalation of regional tensions and disruption to crude supplies.Brent crude rose to a peak of $69.50 a barrel…

US Renews Waiver on COSCO's Dalian Tanker Unit

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The Trump administration on Thursday renewed a waiver for companies to wind down transactions with the Dalian unit of a Chinese tanker company on which it had imposed sanctions in September for allegedly transporting Iranian oil.The waiver, good until Feb.

U.S. Ingenuity Will Solve Climate Challenge: US DOE

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The United States can tackle threats to the climate through technological advances as fossil fuels will remain a priority for the U.S. government and business, the assistant secretary for fossil energy said on Tuesday.The world should look to the United States' ability to reduce its emissions…

Big Corn, Big Oil Unhappy with Fed's Biofuel Plan

File Image: an Ethanol Processing Plant (AdobeStock / © Jason Lee)

Corn farmers, ethanol producers, refinery representatives, energy traders and state and local officials from the Midwest all blasted away at the Trump administration's proposed biofuels plan for next year during a public hearing on Wednesday hosted by the U.S.

US Eyes India for Quantum Leap in LPG Exports

Pic: World Energy Consultants, LLC

Trump administration trade tariffs on China will need to cease and India will have to rely more on U.S. LPG supplies for the world to clear the quantum leap expected for U.S. LPG exports, says a study.The study of global seaborne LPG trade…

USA to Make Paris Climate Exit Official

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The Trump administration will file paperwork with the United Nations as early as Monday to withdraw the United States from the Paris Agreement, marking the first formal step in a one-year process to exit the global pact to fight climate…

Venezuela, China Expanding Crude Oil JV

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A Venezuelan oil joint venture with a state-owned Chinese company has started an expansion project to boost output to 165,000 barrels per day (bpd), President Nicolas Maduro said on Thursday, from a current capacity of 110,000 bpd.Sinovensa…

Tankers Sail after U.S. Provides Sanctions Relief

AdobeStock / © Jose Gill

At least three tankers are on their way to Asia with U.S. oil cargoes after Washington gave temporary approval to wind down transactions with a Chinese shipping company that it sanctioned last month, according to data and shipping sources.In…

US Gives Chevron More Time in Venezuela

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The U.S. Treasury Department on Monday renewed a license allowing Chevron, the last U.S. operating energy company in Venezuela, to continue drilling in the country for another three months through Jan. 22.The license has been a subject of…