World Oil (Bloomberg) – A House committee is probing the Biden administration’s decision to pause liquefied natural gas (LNG) export approvals, asking the Energy Department to justify why a moratorium on project approvals is needed while the agency conducts a study that could take more than a year. In a letter sent to Energy Secretary Jennifer Granholm, the House Committee
World Oil (Bloomberg) – The chief executive officer of the country’s largest producer of natural gas dismissed the Biden administration’s move to freeze new liquefied natural gas (LNG) exports as a political stunt, telling House lawmakers during a hearing Tuesday that the decision was designed to secure support at the ballot box. “Let’s call this what it is: the Biden
World Oil (Bloomberg) – Venezuelan oil production at a four-year high is expected to decline quickly if the US follows through on threats to reinstate sanctions on the nation. The Biden administration on Tuesday said sanctions relief to Venezuela’s oil and gas sector will be allowed to expire on April 18, unless the government holds free and fair presidential elections.
World Oil (Bloomberg) – Senator Joe Manchin blasted the Biden administration’s move to halt the approval of new licenses to export U.S. liquefied natural gas (LNG) and vowed to use his power as the chairman of the Senate Energy and Natural Resources Committee to investigate. “If the Administration has the facts to prove that additional LNG export capacity would hurt
Oil Price As tensions with Venezuela continue to simmer over President Nicolas Maduro’s attempt to annex oil-rich Essequibo from Guyana, the U.S. is sending a top defense official to Guyana to discuss the situation. U.S. Deputy Assistant Secretary of Defense for the Western Hemisphere Daniel P. Erikson is visiting Guyana on Monday and Tuesday in what the U.S. Embassy in Guyana referred
Nasdaq MEXICO CITY (Reuters) – The favorite to be Mexico’s next leader will likely be more open than her mentor President Andres Manuel Lopez Obrador to private investment in energy in order to help fund her renewable power push at a time of tighter public finances, aides, officials and executives said. The president’s drive to tighten state control of energy
World Oil (WO) — In a pivotal moment for American energy policy, National Ocean Industries Association (NOIA) President Erik Milito emphasizes the urgency of Congressional intervention following the conclusion of Gulf of Mexico Lease Sale 261. Milito issued the following statement: “Today signifies a critical point in American energy policy. The U.S. offshore oil and gas industry is stepping up
Yahoo Finance Exxon Mobil’s income tax payments to the U.S. government have dropped to 3% over the past five years – several times below the company’s 20-year average – on massive deductions passed under former President Donald Trump. Corporate tax experts say Exxon could enjoy low taxes for several more years, at a time when the government needs more money
Nasdaq NEW YORK – The Biden administration is expected this week to recognize a soon-to-be-updated methodology favored by the ethanol industry in guidance to companies looking to claim tax credits for sustainable aviation fuel (SAF), three people familiar with the matter told Reuters. For months the administration has been divided over whether to recognize the Department of Energy’s Greenhouse Gases,
World Oil (Bloomberg) — Traders are more jittery than ever about the outcome of Chevron Corp.’s proposed $53-billion takeover of Hess Corp. as Venezuela threatens to seize mineral-rich regions in neighboring Guyana. Hess shares fell roughly 5% this week as the conflict escalated, Chevron slid less than 1%. Stock in Hess — which generated nearly a quarter of its revenue
World Oil The American Petroleum Institute (API) has called on the Biden administration to recognize the important role that Alaska plays in U.S. energy security and support the continued development of energy resources in the National Petroleum Reserve (NPR-A). In comments submitted to the Department of the Interior’s Bureau of Land Management (BLM), API expressed concern over proposed regulatory changes that
Oil Price The United States is confident that the Arab states will not use oil supply as a weapon as they have done in the past, White House energy security adviser Amos Hochstein told the Financial Times in an interview published this weekend. “Oil has been weaponised from time-to-time since it became a traded commodity, so we’re always worried about that, working
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