The United States and Iran are not currently in talks to end the war as Washington focuses on pressuring Tehran economically, but all options remain "on the table," White House press secretary Karoline Leavitt said in an interview with Fox News on Thursday. "What President Trump's number one goal has been and will always be is to ensure that Iran can never obtain a nuclear weapon. Period. And so we've had Operation Epic Fury to destroy their military. Now we have Operation Economic Outcast to [Read more]
Enbridge, KKR form joint venture to invest in Westcoast natural gas pipeline
Canadian energy company Enbridge said on Thursday it had agreed to form a joint venture with KKR and Apollo to invest about C$2.7 billion in expansions of its Westcoast natural gas pipeline system in British Columbia. KKR and Apollo are investing alongside Enbridge as demand for natural gas infrastructure in Western Canada and the U.S. Pacific Northwest grows, while the Westcoast system also provides a route to international LNG markets. Under the agreement, the two investment [Read more]
After six months, the Iran war has reached its endgame – a costly stalemate
The Iran war has reached its endgame: a costly stalemate. Six months after U.S. and Israeli forces attacked Iran, killing its supreme leader and maiming his son and successor, the Iranian government is under economic siege, but it still holds power and believes it has time on its side. A threat by U.S. President Donald Trump to impose crippling new sanctions on Iran faces a fundamental problem: Tehran is betting he will not take the final step to break the stalemate - aggressively [Read more]
OPEC+ loses oil market sway in Iran war as China gains influence
Six months into the Iran war, the world's most powerful oil alliance, OPEC+, finds itself in an unfamiliar position: unable to influence a market it once helped shape. The war, which has shut a major export route for Middle Eastern oil and damaged energy infrastructure in several OPEC countries, has eroded the group's market share and, with it, its ability to affect prices. Its statements and policy decisions barely move oil markets anymore. Instead, cuts in Chinese crude imports have [Read more]
Asia’s crude oil imports stay soft in August, challenging US Hormuz claims: Russell
Asia's imports of crude oil in August are still well short of levels prior to the start of the Iran conflict, raising further questions as to just how much crude is actually leaving the Middle East. The top-importing continent is expected to see arrivals of 23.12 million barrels per day (bpd) in August, slightly down from July's 23.36 million bpd, according to data compiled by commodity analysts Kpler. Imports are also almost 4 million bpd, or 14%, down from the average of 26.91 million [Read more]
Sempra begins permitting process for major LNG expansion in Texas
Sempra Energy's unit Port Arthur LNG has started the federal permitting process for a major expansion of its liquefied natural gas export operations in Southeast Texas, according to a regulatory filing made on Wednesday. The proposed Port Arthur LNG North Project would add four liquefaction trains capable of producing up to 27 million metric tons per annum (mtpa) of LNG, significantly expanding the company's export footprint on the U.S. Gulf Coast, the filing showed. According to the [Read more]
US preparing to ease environmental reviews for Alaska oil and gas drilling
The U.S. Interior Department is preparing to ease environmental review requirements for some oil and gas exploration activities in Alaska's National Petroleum Reserve as part of the Trump administration's push to speed energy development in the Arctic, an Interior spokesperson said on Wednesday. • The agency is working on a proposed "categorical exclusion" that would accelerate permitting for winter oil and gas exploration activities, including seismic surveys and exploratory drilling [Read more]
US crude stocks rise, gasoline and distillate inventories fall – EIA
U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 95,000 barrels to 428.9 million barrels in the week ended August 21, the EIA said, compared with analysts' expectations in a Reuters poll for a 597,000-barrel rise. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.2 million barrels in the week, the EIA said. Oil futures pared earlier losses following the [Read more]
Enbridge to buy Salt Creek Midstream crude gathering assets for $600 million
Pipeline operator Enbridge said on Wednesday it would acquire Salt Creek Midstream's crude oil gathering business for $600 million in cash, expanding its presence in the crude-rich Permian Basin. The Permian Basin, the largest oil-producing region in the United States, continues to attract investment in gathering systems and pipeline networks as companies work to transport crude volumes through export terminals on the U.S. Gulf Coast. Here are more details: * Enbridge said the [Read more]
Japan to diversify crude supplies, back pipelines that bypass Hormuz
Japan unveiled a comprehensive plan on Wednesday to strengthen the resilience of its energy supply, including support for pipeline projects that bypass the Strait of Hormuz, the gateway to almost all of its imported crude before the Iran war. The plan was outlined at a meeting of the government's Green Transformation (GX) Implementation Council and specific measures, including legislative steps, are expected to be finalised by the end of the year. * Prime Minister Sanae Takaichi ordered [Read more]
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