From The Houston Chronicle A bevy of right-wing groups are asking the Trump administration not to intercede on behalf of the Venezuelan opposition government to keep Citgo Petroleum from being seized and auctioned. The Houston-based refiner Citgo is owned by Venezuela’s state oil company, and it’s considered a valuable asset to help Venezuela rebuild if there’s regime change in favor
From Reuters Oil prices plummeted more than 7% on Thursday, with the U.S. benchmark posting its worst day in more than four years, after President Donald Trump said he would impose additional tariffs Chinese imports starting Sept. 1. The drop in Brent crude was the steepest in more than three years, undoing a fragile oil rally built on steady drawdowns
From The Houston Chronicle Venezuela could lose its largest U.S. asset after a court allowed a Canadian gold miner to seize shares of Citgo Petroleum Corp.’s parent to satisfy an arbitration award. A U.S. appeals court ruled on Monday that Crystallex International Corp. may seize U.S.-based stock of Citgo’s parent, which is part of Venezuela’s state-owned oil company, to cover
From Reuters Trump administration infighting is holding up approval of the first major U.S. offshore wind energy project, with agencies sparring over whether the proposal does enough to protect the fishing industry, according to interviews and agency documents. The delays are a setback to President Donald Trump’s efforts to fast-track big energy infrastructure projects and could threaten the administration’s plans
From AP News The U.S. economy slowed sharply in the April-June quarter even as consumers stepped up their spending. The gross domestic product, the economy’s total output of goods and services, grew at a 2.1% annual rate last quarter, down from a 3.1% gain in the first quarter, the Commerce Department estimated Friday. But consumer spending, which drives about 70%
By Tyler Losier, Energy Reporter, Oil & Gas 360 Iranian Revolutionary Guard seizes foreign tanker, claims it was smuggling fuel Iran’s Islamic Revolutionary Guard Corps Navy has reportedly seized a foreign oil tanker traveling through the Strait of Hormuz, claiming that the ship was attempting to smuggle Iranian oil out of the country. Based on a series of videos released
By Tyler Losier, Energy Reporter, Oil & Gas 360 New $8 billion project would include 2,000 KTA ethylene cracker Petrochemical company Chevron Phillips – equally owned by Chevron Corporation and Phillips 66 – has formed another joint venture with Qatar Petroleum (QP), this time to build an $8 billion petrochemical plant in the Gulf Coast region of the United States.
From The Seattle Times BILLINGS, Mont. (AP) — Environmentalists asked a federal judge on Monday to cancel approvals issued by the U.S. Army Corps of Engineers for the Keystone XL oil pipeline from Canada, opening another front in the legal fight over a long-delayed energy project that President Donald Trump has tried to push through to completion. Attorneys for the
From Bloomberg Pacific Bravo en route Hong Kong, senior U.S. official says accepting the ship would expose city to sanctions The U.S. warned Hong Kong that it could face penalties if it does business with an oil tanker headed for the city that allegedly violated sanctions on Iran. Washington wants to put China and the autonomous city on notice that
From AJOT/Bloomberg The Trump administration is proposing tariffs on goods from countries found to have undervalued currencies, in a move that would further escalate its assault on global trading rules. The proposal, laid out in a Federal Register notice released on Thursday, would let U.S.-based companies seek anti-subsidy tariffs on products from countries found by the U.S. Treasury Department to
From Bloomberg U.S. President Donald Trump resumed his attacks on OPEC, saying the global economy is too fragile to handle a price hike and urging the cartel to “relax and take it easy.” Trump’s war of words with the Organization of Petroleum Exporting Countries punctuated big price swings last year, as he pressured the group to keep the taps open
From Reuters Oil prices rose about 1 percent on Tuesday as the market shifted focus to the possibility of increased Chinese demand, drawing attention away from trade tensions between that country and the United States after a series of tariffs imposed by both countries. Brent crude was up 76 cents at $73.82 a barrel by 12:27 p.m. EDT (1627 GMT).
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