President Trump – Oil & Gas 360

Trump will roll back more environmental regulations if reelected, says EPA chief

September 3, 2020

CNBC President Donald Trump will move to weaken more environmental regulations on industries if reelected in November, while work to complete Superfund cleanup projects, according to Environmental Protection Agency administrator Andrew Wheeler. The Trump administration in a second term would establish a cost-benefit analysis of any new regulation and expand the use of “science transparency” in order to justify the science behind implementing new

Trump may announce loan program for oil companies this week

April 29, 2020

World Oil WASHINGTON (Bloomberg) –The Trump administration may announce as soon as Thursday a plan to offer loans to the ailing oil industry possibly in exchange for a financial stake, according to two people familiar with the matter. Treasury Secretary Steven Mnuchin and Energy Secretary Dan Brouillette have already briefed President Donald Trump on a plan to provide financial aid

Drowning in crude, U.S. drillers say Trump strategic reserve plan is no lifeline

April 23, 2020

Reuters NEW YORK – President Donald Trump’s plan to fill the U.S. emergency crude oil stockpile has become the centerpiece of his administration’s strategy to shield drillers from a meltdown in energy demand – but company officials and industry groups say the program will not be enough. Trump announced his intention to fill the U.S. Strategic Petroleum Reserve “to the

Oil falls back as Russia rejects Trump’s intervention in price war

March 20, 2020

Reuters LONDON – Oil prices fell on Friday after rising 10% in the session as the coronavirus epidemic knocked the outlook for demand and Moscow rejected an intervention by U.S. President Donald Trump in Russia’s price war with Saudi Arabia. Brent crude futures LCOc1 were down 32 cents, or 1.1%, at $28.15 a barrel by 1331 GMT. Brent is on

Oil rollercoaster has crude rebounding after 18-year low

March 19, 2020

Houston Chronicle Oil rebounded after plunging to the lowest level in 18 years as policy makers across the globe try to strengthen economies against the impact of the coronavirus pandemic. Futures rose as much as 18% in New York, the most since December 2008, following a 24% rout in the previous session. Prices have cratered over the past two weeks

Saudi Arabia, Russia raise stakes in oil standoff

March 10, 2020

Reuters DUBAI/MOSCOW – Saudi Arabia will raise its crude supply to a record high in April, the kingdom announced on Tuesday, as it ratcheted up a standoff with Moscow over market share and appeared to reject Russian overtures for new talks. The clash of oil titans Saudi Arabia and Russia sparked a 25% slump in crude prices on Monday, triggering

Democrats accuse Energy Department of underspending on clean energy research

February 5, 2020

Houston Chronicle WASHINGTON — The Department of Energy isn’t distributing funding for clean energy research fast enough, House Democrats said Wednesday. At a hearing before the oversight panel of the House Science and Space Committee, Chairman Rep. Bill Foster, D-Ill., said the department’s Office of Energy Efficiency and Renewable Energy didn’t spend $823 million in funding appropriated by Congress last

U.S. lifts Iran sanctions on one unit of Chinese shipping giant COSCO

February 3, 2020

Reuters WASHINGTON – The United States on Friday lifted sanctions on one of two units of the Chinese tanker company COSCO, the U.S. Treasury said, partially reversing its punishment on the company for transporting Iranian oil after China complained about the measure in trade talks with Washington. President Donald Trump’s administration on Sept. 25 blacklisted two units of COSCO, named

Oil industry in Davos: torn between Greta and Trump

January 23, 2020

Reuters DAVOS, Switzerland – Oil majors are at the sharp end of the climate debate and face a bewildering balancing act to secure their futures. It’s a Catch-22 situation: to meet ambitious emissions targets by investing in low-carbon technologies, they will have to rely on revenue from expanding their businesses in oil and gas, for which there is still growing

Oil hovers near three-month highs on trade progress, lower inventories

December 19, 2019

Reuters LONDON – Oil prices hovered near three-month peaks on Thursday, buoyed by falling U.S. crude inventories and thawing trade relations between the United States and China. Brent crude futures were up 19 cents at $66.36 a barrel at 1447 GMT, heading for their sixth straight day of gains. U.S. West Texas Intermediate (WTI) crude rose 7 cents to $61.00

Oil rallies on renewed trade deal prospects before OPEC+ meeting

December 4, 2019

Houston Chronicle Oil gained as the U.S. and China were moving closer to a trade deal and before OPEC+ decides on its output-cut policy later this week. Futures added as much as 1.8% in New York. The U.S. and China are moving closer to agreeing on the amount of tariffs that would be rolled back in a phase-one trade deal

U.S. to negotiate carbon trades under climate pact shunned by Trump

December 2, 2019

Houston Chronicle President Donald Trump may be withdrawing from the Paris climate agreement, but the U.S. is still going to be a force at the negotiating table as international leaders gather in Madrid next week to map out rules for carbon trading as a way to limit greenhouse gas emissions. Despite Trump’s rejection of the global agreement to cut carbon

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