A social media post by U.S. President Donald Trump declaring that the Keystone XL oil pipeline "may be awoken from the grave" attracted attention this week in the midst of U.S.-Canada trade talks. Below is a look at the history of that project running through parts of Canada and the U.S., as well as details on the new oil pipeline proposal that follows a slightly different route: WHAT IS KEYSTONE XL? Keystone XL was a proposed crude pipeline, roughly 1,900 km (1,181 miles) long, which would [Read more]
Tankers stack up as Venezuela sells oil faster than its ports can handle
Venezuela's dilapidated oil port terminals are imposing a de facto export cap on the country's resurgent crude production, with tankers having to wait up to 30 days to load because of ageing infrastructure, power outages and quality issues, according to shipping data, sources and documents. The delays are putting roadblocks on a U.S. plan to quickly boost Venezuela's oil exports following a flagship pact with global trading houses. The fight for infrastructure looks likely to intensify as [Read more]
Iranian oil offers to Chinese buyers fall as US blockade bites, sources say
Offers of Iranian crude to Chinese buyers have declined and prices have jumped this week as the U.S. blockade has cut Tehran's shipments, according to trade sources, with the threat of more sanctions from Washington looming. The U.S. re-imposed its blockade of Iran's shipping and ports on July 13 as a deal to halt the war between them broke down in an attempt to cut off oil sales — Tehran's primary source of hard currency — compounding earlier losses from wartime strikes on its energy [Read more]
Oil set for second weekly rise as unsettled US-Iran war crimps supply
Oil prices fell slightly on Friday, but were on track for a second weekly rise as the stalemated U.S.-Iran war continues to disrupt supply from the key Middle East producing region. Brent crude futures fell 23 cents, or 0.3%, to $93.55 a barrel by 0142 GMT, after climbing 2.4% in the previous session. U.S. West Texas Intermediate crude futures slipped 33 cents, or 0.4%, to $86.50 a barrel, after rising 2.3% in the prior session. During the previous five days of gains, Brent gained more [Read more]
Ships passing through Hormuz hover in single digits, data shows
Seven commodity ships sailed along the Strait of Hormuz on Thursday, just half the previous day's tally, showed data from shiptracker Kpler, amid concern over risk to Middle East shipping as U.S.-Iran peace talks remain in limbo. Of the total, four ships entered and three exited the waterway, which was used by nearly a fifth of global shipments of crude oil and liquefied natural gas before war began in February. The seven did not include any very large crude carriers or liquefied natural [Read more]
First gas from Australia’s Beetaloo puts shale ambition to the test
Deep in Australia's Red Centre, gas is set to start flowing next month from the sprawling Beetaloo basin to Darwin 500 km (310 miles) north, in what developers hope kicks off the country's own U.S.-style shale revolution. The prospects for the Beetaloo are vast. Geoscience Australia data shows it holds 7 trillion cubic feet of gas, fuelling local government dreams it will power data centres in the underdeveloped Northern Territory and feed liquefied natural gas sales to Asia from the world's [Read more]
US firm Powerus wins $22.3 million contract to protect Middle East energy infrastructure from drones
U.S. drone and radar maker Powerus said on Thursday it had signed a commercial contract worth approximately $22.3 million to supply counter-drone technology aimed at protecting oil and gas infrastructure in the Middle East. The system would detect, track and classify drone threats, feeding information to a central control hub at the customer's site to give operators a single picture of aerial activity in the area, the company said. Powerus did not disclose the identity of the customer or the [Read more]
North Dakota oilfield activity expected to rise in second half of year, regulator says
Oilfield activity in North Dakota is set to rise in the second half of the year as operators add rigs and speed up completions to collect high oil prices, the state Department of Mineral Resources said on Thursday. An impasse in the Iran war and disruptions to Middle Eastern supply have kept oil prices elevated, encouraging producers to ramp up activity. The North Dakota rig count jumped to 33 in August from 26 in July, according to the department's data. "These operators are not moving [Read more]
Trump threatens to isolate Iran. Who are its trading partners?
A threat by U.S. President Donald Trump to impose unprecedented economic warfare and isolation on Iran could have implications for countries that trade with it. Trump warned of economic consequences for any country that supports Iran. Here are some of Iran's main trading partners in recent years: CHINA China, the biggest buyer of Iranian oil, could face additional pressures from the U.S. over its purchases if Trump follows through on his promise. Over the past decade, China has [Read more]
Bessent says US will impose toughest ever sanctions on Iran, urges China to cooperate
The United States will impose "the toughest sanctions in history" on Iran, U.S. Treasury Secretary Scott Bessent said on Thursday as he urged Beijing to cooperate with Washington. Bessent said he would hold a press conference on Monday to discuss details. "It is a one-two punch. We have the blockade (on Iran), and we are going to have the toughest sanctions in history," Bessent told CNBC. "It is going to work in Iran and we are going to collapse this regime." "It is time for our allies [Read more]
- « Previous Page
- 1
- …
- 66
- 67
- 68
- 69
- 70
- …
- 1266
- Next Page »