Meg O’Neill’s decision to simplify the company’s structure is helping BP’s response to the disruption caused by the Iran war By Mitchell Ferman BP PLC’s new chief executive acknowledged that the oil giant still has work to do to streamline its decision-making processes and gain investor trust in a post that marked her first 100 …
BP CEO Says Oil Giant Needs to Make ‘Fewer and Better’ Choices Read More »
(Reuters) – Governments are set to buy millions of barrels of oil through 2028 to rebuild emergency reserves depleted by drawdowns to plug a gap in global supply caused by the U.S.-Israeli war on Iran, analysts and officials said. This could boost demand for crude that would absorb some of the expected global supply surplus …
Strategic Oil Reserve Buying Set to Support Crude Demand Through 2028 Read More »
(Reuters) – Oil tanker traffic through the Strait of Hormuz was at a near standstill on Thursday, according to data and sources, as shipping risks escalated after the U.S. renewed airstrikes on Iran, triggering retaliation by Tehran in the Gulf. Just two tankers had so far sailed through the strait in the early hours of …
Oil Tanker Traffic Through Hormuz at Near Standstill as Attacks Strain Iran Truce Read More »
By Yawen Chen LONDON, July 9 (Reuters Breakingviews) – Ships passing through the Strait of Hormuz may pay tolls after all. Just not the kind Iran can actually collect. Ostensibly, the relative calm of the last few weeks is over. Iran’s strikes this week on ships trying to transit Hormuz via the waterway nearest Oman …
Hormuz Ships Will Face Tolls – Just de Facto Ones Read More »
(Reuters) – Iranian armed forces targeted U.S. military infrastructure in neighbouring Gulf states on Thursday following U.S. strikes on Iran’s southern coastal and eastern provinces, putting further strain on a three-week-old ceasefire agreement. Iran was also preparing on Thursday to bury its slain Supreme Leader Ayatollah Ali Khamenei at the country’s holiest shrine in Mashhad, …
Iran Says it Hits US Military Targets in Gulf, Prepares to Bury Slain Leader Read More »
(Reuters) – Iraq will not leave OPEC, but is seeking a fair output quota within the oil producer group, Iraqi Prime Minister Ali al-Zaidi said in an interview with Saudi-owned Al Arabiya TV, according to his office. Reuters reported in an exclusive in June that Iraq, the group’s second-largest producer after Saudi Arabia and one …
Iraq Will Not Leave OPEC But Seeks Fair Output Quota, PM Says Read More »
(Reuters) – Norway’s oil and gas production has been reduced by 2.4 million barrels of oil equivalent (boe) so far this year as a result of an ongoing pay strike by oil service workers, industry group Offshore Norway said on Thursday. Norway produced about 1.5 billion boe, or more than 4 million barrels of oil …
Norway Oil Service Workers’ Strike Cuts Output by 2.4 Million boe, Industry Group Says Read More »
(Reuters) – Goldman Sachs said the latest strikes in the Strait of Hormuz could slow the ramp-up in Middle East oil production, while the cancellation of the U.S. sanctions waiver could once again weigh on exports of Iranian oil, which had only recently begun to recover. Oil prices extended gains on Thursday as the latest …
Goldman Says US-Iran Escalation Could Slow Recovery in Gulf Oil Supplies Read More »
(Reuters) – One of the clever ways to deal with the unprecedented and disruptive U.S. presidency of Donald Trump is to make up acronyms using Mexican foods. This has given us TACO — Trump Always Chickens Out — to reflect the U.S. president’s tendencyto escalate a situation before retreating once the economic and political costs …
Forget TACO. Trump’s Best Mexican Food Acronym is TAMALES: Russell Read More »
The Three Mile Island nuclear power plant, located in the middle of the Susquehanna River, in Middletown, Pennsylvania.Photographer: Heather Khalifa/Bloomberg Bloomberg Nuclear energy is back in vogue in the US. Utilities are restarting shuttered plants and the Trump administration is pushing for more reactors to be built. Dozens of startups are working on new technologies …
How Trump and AI Data Centers Are Boosting Nuclear Power Read More »
