The Department of the Interior’s Bureau of Ocean Energy Management (BOEM) has made adjustments to monetary penalties for oil and gas companies, implementing the 2023 inflation adjustments for the maximum daily civil monetary penalties contained in BOEM regulations in accordance with Federal law.
The world’s largest crude importer and main customer of Iranian oil, China, is seeking increasingly closer ties with Iran while the United States steps up pressure on the Islamic Republic’s oil exports.
Oil prices extends losses on Wednesday (15 February) as a much bigger-than-expected surge in the U.S. crude inventories and anticipation of further interest rate hikes sparked concerns over the prospect of weaker fuel demand and economic recession.
The total number of total active drilling rigs in the United States rose by 2 this week, according to new data from Baker Hughes published on Friday.
Russia’s deputy foreign minister Sergei Ryabkov said that “small steps” would be needed for Moscow and the United States to come closer to an agreement on bilateral issues, the RIA news agency reported on Monday.