By David Wethe The US Department of Interior is slashing the bonds oil and natural gas companies must provide when drilling on federal land by 95% in a move to encourage more energy exploration. The bond required in onshore federal drilling leases will be cut to $25,000 from the $500,000 imposed during the Joe Biden …
Trump Administration to Slash Oil-Drilling Bond Amount by 95% Read More »
By Stella Mackler and Julian Hast US natural gas futures declined as forecasts shifted to show cooler weather in the coming weeks, suggesting a decline in demand for gas-fired electricity as consumers pull back on using air-conditioners. Kinder Morgan’s Gulf Coast Express pipeline expansion project also entered service, indicating more gas will be moving out …
US Natural Gas Drops on Cooler Outlooks, New Pipeline Capacity Read More »
By Jan Wolfe Exxon seeks compensation for property seized in 1960 Trump allowed wave of US lawsuits against Cuba Exxon sued under US law called the Helms-Burton Act Trump administration supported Exxon in case WASHINGTON, June 23 (Reuters) – The U.S. Supreme Court made it easier on Tuesday for U.S. companies to seek compensation from …
US Supreme Court Boosts Exxon’s Bid to Get Compensation from Cuba Read More »
(Reuters) – An evacuation plan to enable hundreds of ships with some 11,000 seafarers stranded in the Gulf to sail through the Strait of Hormuz is underway after Iran and the U.S. reached a ceasefire deal, the United Nations’ shipping agency said on Tuesday. “We have now started contacting the ships to start the evacuation,” …
Evacuation Plan Through Hormuz for Stranded Ships in Gulf Underway, UN Agency Says Read More »
(Reuters) – U.S. refiner Phillips 66 CEO Mark Lashier said on Tuesday it would take time for crude supplies to clear through the Strait of Hormuz, as uncertainty remains around a return to normal shipping activity. Passage through the Strait of Hormuz is continuing on a limited basis, easing immediate supply concerns and pushing crude …
Phillips 66 CEO Says Hormuz Supply Disruptions May Linger Amid Shipping Uncertainty Read More »
(Reuters) – Oil tanker operators are reaping record profits after nearly doubling the hire cost of vessels going through the Strait of Hormuz and wider Gulf region this week on rising demand as traffic through the waterway slowly picks up, according to shipping data and sources. Traffic through the vital strait has been modest since …
Gulf Oil Tanker Rates Nearly Double as Middle East Producers Ramp Up Exports Read More »
(Reuters) – The U.S. has started waiving some sanctions on Iran under their interim deal to end the war, but fully unravelling a tangled web of restrictions on the country’s activities and trade under any more comprehensive agreement will be much harder. This is why any effort to lift sanctions on Iran could take years …
Will US and International Sanctions on Iran be Lifted? Read More »
(Reuters) – U.S. President Donald Trump insisted on Tuesday that Iran has agreed to allow nuclear inspections long into the future, despite statements from Iran that it has not done so. “Iran has fully and completely agreed to highest level Nuclear inspections long into the future (Infinity!!!),” he wrote in a social media post. “This …
Trump Insists Iran Has Agreed to Nuclear Inspections Read More »
(Reuters) – Oman and Iran will form a team to reach an agreement on “administration of navigation in the Strait of Hormuz” and associated costs and services, the two countries said in a joint statement on Tuesday. The two states will hold talks with coastal countries and other concerned parties, the statement said. Reporting by …
Oman, Iran to Hold Talks Regarding Future Management of Strait of Hormuz Read More »
By Emily Chow, Florence Tan and Nerijus Adomaitis Three stranded VLCCs exited strait on Tuesday, data show Seven Qatar-linked ballast LNG tankers enter Hormuz, data show No widespread movement of empty LNG vessels toward Gulf still SINGAPORE/OSLO, June 23 (Reuters) – Three stranded supertankers passed through the Strait of Hormuz on Tuesday, while seven empty …
More Vessels Transit Hormuz, Qatar-Linked LNG Tankers Return, Data Show Read More »
