When President Donald Trump came into office, oil prices jumped. The immediate reason was simple enough: Trump likes a hardline approach to countries he sees as enemies, and that means Iran and sanctions on its oil exports. But there’s another factor at play, too: U.S. shale.
China is widely expected to stop buying U.S. LNG on the spot market and seek to swap American cargoes from elsewhere after it announced a 15% tariff on U.S. liquefied natural gas in response to the 10% American tariffs across the board.
Oil giants such as BP and Shell who operate in the North Sea should be given huge tax breaks to help protect the UK against Donald Trump’s burgeoning trade war, Chancellor Rachel Reeves has been told.
ne of President Trump’s first orders of business following the initial burst of executive orders was to declare he would ask OPEC to ramp up its oil production to bring down prices.
Cargill has signed a sales and purchase agreement for a 50% stake in Brazilian sugar and renewable energy firm SJC Bioenergia, adding to the 50% already owned by Cargill and giving it full control of the firm, Cargill announced on Thursday.
Producing light crude, the development is expected to reach 22,300 barrels of oil equivalent a day in peak production this year. Bozhong 26-6, which has an average water depth of about 20 meters (65.62 feet), holds over 200 million cubic meters (7.06 billion cubic feet) of proven oil and gas in place, according to the state-backed company.
Oil edged down as US President Donald Trump’s renewed pledge to drive down the price of crude overshadowed his push for tighter Iranian sanctions.
Quebec has long resisted proposals to build new oil and gas pipelines through its territory. US President Donald Trump’s threats against Canada might change that.
The discovery in the country’s northern Mediterranean waters was announced by Egyptian Prime Minister Mostafa Madbouly, who was quoted by news outlet Caliber.
TotalEnergies CEO Patrick Pouyanné expects US financing for the company’s USD 20-billion Mozambique LNG project to be approved in the coming weeks, Reuters reported on Wednesday.