(Oil Price) – The Biden Administration is set to slap more sanctions on Russia’s oil exports by targeting tankers hauling Russian crude and products, sources familiar with the outgoing administration’s plans have told Reuters. “It is going to be a big package,” one of Reuters’s sources said. The current Administration plans to target vessels that carry Russian oil above the $60 per
(Oil Price) – Following the recent election of Donald Trump as the next president of the U.S., the Biden administration is racing to approve huge quantities of green funding to ensure the U.S. gets the best chance possible at a green transition. The Biden government’s far-reaching climate policy, the Inflation Reduction Act (IRA), is under threat as President-elect Trump has repeatedly
(Investing) – Biden administration officials will not finalize highly anticipated guidelines on new clean fuel production tax credits aimed at the airline and biofuel industries before they leave in January, three sources told Reuters, casting doubt on the future of a key piece of the U.S. president’s climate agenda. The tax credit, the engine behind President Joe Biden’s ambitious plan to
(Oil Price) – The Biden Administration plans to offer the minimal possible acreage in a Congress-mandated oil and gas lease sale in the coastal plain of Alaska’s Arctic National Wildlife Refuge, the Bureau of Land Management (BLM) said late on Wednesday. The BLM is required in the 2017 Tax Act by Congress to hold two lease sales in the Coastal Plain within seven
(Oil Price) – The Biden Administration has granted a final federal permit to a lithium-boron project in Nevada in the first such project approved by the Administration as part of its efforts to support America-produced lithium and reduce dependence on Chinese supply, the project developer said on Friday. The U.S. Bureau of Land Management has issued the federal permit for the Rhyolite Ridge
(Oil Price) – Ten days ago, the Biden administration expanded sanctions on Iran’s petroleum and petrochemical sectors in response to Iran’s October 1 attack on Israel, its second direct attack on Israel this year. According to the White House, Iran’s oil exports are enabled by a network of illicit shipping facilitators in multiple jurisdictions which, through obfuscation and deception, load and transport Iranian
(Oil & Gas 360) – Last Friday, the Biden administration unveiled its official response to the October 1 attack on Israel by Iran by imposing harsh sanctions on the National Iranian Oil Company. In addition to blocking oil exports, the increased sanctions include petrochemicals and elevated scrutiny and countermeasures to block “ghost ships” from the United Arab Emirates, Liberia, Hong Kong,
World Oil (Bloomberg) – The oil and gas industry is zeroing in on the Biden administration’s moratorium on new liquefied natural gas (LNG) export permits as the key policy they want changed under the next U.S. president. Chevron Corp. Chief Executive Officer Mike Wirth called on the administration to reverse the pause, labeling the policy as a failure that “elevates
World Oil (Bloomberg) – The Biden administration granted the first liquefied natural gas (LNG) export license since a federal court overturned a temporary moratorium on issuing permits to ship the fuel. The U.S. Energy Department granted a five-year license Tuesday to Wes Edens’ company New Fortress Energy Inc., which is developing the small-scale LNG export plant known as Fast LNG
World Oil (Bloomberg) – The Biden administration announced Monday it has purchased 4.65 MMbbl of crude oil for the nation’s emergency cache as it continues refilling the depleted reserve. The Energy Department has been slowly replenishing the Strategic Petroleum Reserve, which reached a 40-year-low following an unprecedented drawdown in the wake of Russia’s invasion of Ukraine. In 2022, the Biden
U.S. News WASHINGTON – The Biden administration is seeking input on whether to add more areas for protection from oil and gas drilling in Alaska’s National Petroleum Reserve, the Interior Department’s Bureau of Land Management announced on Friday. The BLM will take public comment on whether to update protected areas in the Western arctic, including whether to create new protected
World Oil (Bloomberg) – A federal judge halted Joe Biden’s temporary moratorium on new licenses for exports of U.S. liquefied natural gas (LNG), though the decision is unlikely to immediately jump start approvals. U.S. District Judge James D. Cain Jr. in Louisiana issued a preliminary injunction Monday in a lawsuit filed by 16 states, which argued Biden violated federal law
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