Summary Brent and WTI down more than 4% this week Supply glut remains main market focus US plans to seize more tankers off Venezuela, sources say (Reuters) – Oil prices closed lower on Friday, marking a 4% weekly decline as a supply glut and a potential Russia-Ukraine peace deal outweighed worries about any impact from …
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by one to 548 in …
US Drillers Cut Oil and Gas Rigs for Second Time in Three Weeks, Says Baker Hughes Read More »
WASHINGTON, Dec 12 (Reuters) – The U.S. House of Representatives on Friday voted 213-184 to pass a bill that aims to speed up federal permitting of interstate natural gas pipelines by designating the Federal Energy Regulatory Commission as the lead agency in the process. The Improving Interagency Coordination for Pipeline Reviews Act gives the agency …
US House Passes Bill to Fast-Track Natural Gas Pipeline Permitting Read More »
KYIV, Dec 12 (Reuters) – Ukrainian drones struck two Russian oil rigs in the Caspian Sea, an official in the Security Service of Ukraine (SBU) said on Friday. The source said SBU drones hit the Filanovsky and Korchagin oil rigs, which both belong to Russia’s Lukoil (LKOH.MM). The Filanovsky rig – part of Russia’s largest …
Ukraine Hits Russian Oil Infrastructure In Caspian For Second Time Read More »
By Jarrett Renshaw EPA still reviewing comments; no end-of-year decision expected Delay folds quotas into broader oil-agriculture policy talks Uncertainty complicates contracts, hedging, and investment decisions Dec 12 (Reuters) – The Trump administration is not expected to finalize 2026 biofuel-blending quotas before the end of this year, according to three sources familiar with the situation, …
Trump Administration Unlikely to Finalize 2026 Biofuel Quotas This Year, Sources Say Read More »
By Marianna Parraga Only Chevron-chartered tankers sailing into international waters About 11 million barrels stuck in vessels in Venezuela Some cargoes are onboard Washington-sanctioned ships HOUSTON, Dec 12 (Reuters) – Venezuela’s oil exports have fallen sharply since the United States seized a tanker earlier this week and imposed fresh sanctions on shipping companies and vessels …
Venezuela Oil Exports Fall Sharply After US Tanker Seizure, Sources and Data Say Read More »
Hauling petroleum around the world in ships is no longer a humdrum business. By Julian Lee The cold war on sanctioned oil is heating up. Drone strikes and boarding parties have raised the risk of shipping blacklisted barrels. On Wednesday, the US seized a tanker hauling as much as a two million barrels of Venezuelan …
US forces intercept and seize a sanctioned oil tanker off the coast of Venezuela, in a video released by the US Department of Justice on Dec. 10. Source: US Department of Justice On Dec. 10, US forces intercepted and seized an oil tanker off the coast of Venezuela that Attorney General Pam Bondi said is …
What US Military Posturing Means for Venezuela’s Oil Read More »
New Fortress Energy went all in on a concept it called Fast LNG. Slowly that commitment has become the company’s undoing. By Ruth Liao, Liam Vaughan, and Jim Wyss For 20 minutes, Wes Edens barely pauses as he talks about the sunny prospects for his beleaguered liquefied natural gas company, New Fortress Energy. Dressed in …
How Billionaire Wes Edens’ Big Energy Dream Hit the Rocks Read More »
By Yawen Chen (Reuters Breakingviews) – The U.S. seizure of a sanctioned tanker has sharpened President Donald Trump’s standoff with Venezuela’s Nicolás Maduro. It does not, however, make the country’s 300 billion barrels of theoretical oil reserves – the world’s largest – any easier to turn into usable supply. Even if Washington’s pressure campaign leads …
Venezuelan Oil Riches Will Stay Mostly theoretical Read More »
