Donald Trump – Oil & Gas 360

Trump threatens to slap sanctions on Iraq ‘like they’ve never seen before’

January 6, 2020

CNBC President Donald Trump threatened Sunday to slap sanctions on Iraq after its parliament passed a resolution calling for the government to expel foreign troops from the country. Tensions in the Middle East spiraled last week after Trump called for a U.S. airstrike in Baghdad that killed a top Iranian general, Qasem Soleimani. Speaking to reporters on Air Force One, the U.S. president said: “If

How the world’s most important oil chokepoint could factor into escalating US-Iran tensions

January 6, 2020

CNBC A critical gateway to the world’s oil industry has been thrust back into the global spotlight, following a dramatic escalation in geopolitical tensions since the targeted killing of a top Iranian general. The death of Iranian military commander Qasem Soleimani at the end of last week has ratcheted up already-high tensions between Washington and Tehran, with many investors increasingly anxious that a widening conflict could

Oil Futures Extend Gains on Larger-Than-Expected U.S. Crude Draw

August 27, 2019

From Reuters Oil prices rose in volatile trade on Tuesday supported by expectations of a drawdown in U.S. crude inventories, though gains were capped by worries about a recession and uncertainty over a China-U.S. trade deal. Brent crude LCOc1 settled up 81 cents, or 1.4%, at $59.51 a barrel. U.S. West Texas Intermediate crude CLc1 ended $1.29, or 2.4%, higher

In Britain, Electric Cars Could Store Renewable Energy for Grid: National Power Co. - oil & gas 360

Colorado Joins California in Requiring Automakers to Sell More Electric Cars

August 26, 2019

From CNBC Colorado has become the 11th state to adopt California’s zero-emission-vehicle mandate forcing automakers to sell more electric cars in the state. The new rule was passed by Colorado’s air-quality commission by a vote of 8 to 1 on Aug. 23. It requires at least 5% of an automaker’s new car lineup to be electric vehicles, or EVs, by

Caught in Tariff War, Sinopec Seeks Waiver for Imported U.S. Oil: Sources

August 26, 2019

From Reuters China Petroleum & Chemical Corp, or Sinopec, is seeking a tariff exemption for U.S. oil being imported in coming months, sources familiar with the matter said, after Beijing late last week imposed retaliatory tariffs on U.S. goods, including crude oil. The largest refiner in Asia is expected to receive four supertankers carrying 8 million barrels of U.S. crude

Oil prices fall on fading storm impact, Chinese economic data - Oil&Gas360

Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

August 26, 2019

From Reuters Oil prices fell 1% on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran, but losses were limited by optimism surrounding a U.S.-China trade deal. Brent crude lost 64 cents, or 1.1%, to settle at $58.70 a barrel, after hitting a session high of $60.17.

Citgo Gets U.S. Subpoena Related to Venezuela Bribery Probe - Oil & Gas 360

Citgo’s New CEO Confident in an Uncertain Time

August 23, 2019

From The Houston Chronicle Houston’s Citgo Petroleum is under attack on multiple fronts. Creditors for its parent company want to seize its refineries. It’s at the center of a fight for control over Venezuela. The Justice Department is investigating it and its parent company’s role in an alleged foreign bribery scheme. And its facing mounting pressure to do something about

Court Affirms Alternative Keystone XL Oil Pipeline Route Through Nebraska

August 23, 2019

From Reuters A court in Nebraska on Friday affirmed an alternative route through the Midwest state for TC Energy Corp’s Keystone XL oil pipeline in the latest chapter in the nearly 10-year legal fight over the Canada to Texas pipeline. The ruling lifts one of the last outstanding legal challenges facing the controversial project, which would ship 830,000 barrels per

Oil Spills Into U.S.-China Trade War, Prices Slump

August 23, 2019

From Reuters China on Friday said it would impose tariffs on U.S. crude oil imports for the first time, sending prices down nearly 4% to two-week lows as the escalating bilateral trade war fed worries over a slowdown in global oil demand. Beijing said crude would be among the U.S. products hit by tariffs of 5% as of Sept. 1.

Trump Calls on U.S. Firms to Exit China as Trade War Escalates

August 23, 2019

From Reuters President Donald Trump on Friday pressured U.S. companies to leave China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods, stoking fears their escalating trade war will tip the global economy into recession. Trump, who has accused China of unfair trade practices and pushed for a deal that would rebalance the relationship in favor of U.S.

World Powers Increasingly See Icy Arctic as a Hot Property

August 22, 2019

From AP News From a helicopter, Greenland’s brilliant white ice and dark mountains make the desolation seem to go on forever. And the few people who live here — its whole population wouldn’t fill a football stadium — are poor, with a high rate of substance abuse and suicide. One scientist called it the “end of the planet.” When U.S.

Oil Eases as Fed’s Jackson Hole Meeting Gets Underway

August 22, 2019

From Reuters Oil prices weakened on Thursday on worries about the global economy and as equity markets were on edge over the uncertain outlook for U.S. interest rate cuts. Traders are awaiting a speech from Federal Reserve Chair Jerome Powell on Friday in Jackson Hole, Wyoming, that could indicate whether the U.S. central bank will continue to cut interest rates.

Premium Content