Politics

Source: Bloomberg

Manchin enlisting oil CEOs to get GOP support for permitting bill

World Oil


(Bloomberg) — Democratic Senator Joe Manchin is enlisting the help of energy-industry executives to marshal Republican support for his plan to speed up the process of getting federal approvals for energy projects, according to people familiar with the …

Source: Bloomberg

Biden’s freeze on oil, gas leases on public land temporarily reinstated

World Oil


(Bloomberg) ­— President Joe Biden won temporary permission to once again pause energy leasing on federal lands and waters, after a U.S. appeals court found a trial judge’s order against the moratorium too vague to review.

The court …

Source: World Oil

Democrats’ oil import tax would violate Biden pledge, group says

World Oil


(Bloomberg) — Democrats’ plan to reinstate a 27-year-old fee on oil imports represents a violation of a pledge by President Joe Biden not to raise taxes on anyone making less than $400,000 per year, according to the conservative …

Source: World Oil

Manchin and Schumer’s ‘Inflation Reduction Act’ a mixed bag for energy industry

World Oil


Energy Workforce continues to digest the potential reconciliation deal — the “Inflation Reduction Act” — in the Senate. Initial thoughts are mixed; some provisions may be beneficial to our sector while others will be negative.

The below summary …

August 1, 2022 - 2:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Politics
Source: World Oil

Iran warns proposed U.S. legislation would diminish chance for nuclear deal

World Oil


(Bloomberg) — Iran warned that proposed U.S. legislation targeting the Islamic Republic could further imperil stalled Biden administration efforts to resurrect the moribund nuclear deal.

 

The bipartisan U.S. Senate bill, called the Iran Nuclear Weapons Capability Act

Source: Reuters

Exclusive: Russia seeking oil payments from India in dirhams

Yahoo


NEW DELHI – Russia is seeking payment in United Arab Emirates dirhams for oil exports to some Indian customers, three sources said and a document showed, as Moscow moves away from the U.S. dollar to insulate itself from the …

Source: CNBC

Solar stocks sink as Senator Manchin says he won’t support climate bill

CNBC


Solar stocks tumbled Friday after Sen. Joe Manchin said he will not support increased spending to address climate change, according to NBC News, citing a Democrat briefed on the conversations.

 

The Invesco Solar ETF, which tracks …

Source: Reuters

Gazprom casts doubt on pipeline’s quick return to full flow

Yahoo


BERLIN (AP) — Russian energy giant Gazprom appeared to cast doubt Wednesday on the prospects of quickly restoring the flow of natural gas to full capacity through a major pipeline to western Europe.

Gazprom last month reduced the gas

Source: CNBC

Biden heads to Saudi Arabia for what could be an ‘embarrassing’ climbdown — or a welcome reset

CNBC


President Joe Biden is headed to Saudi Arabia this week as part of his first Middle East trip as commander in chief.

 

He’s going with a list of goals, including energy security, bringing the Saudis and Israel closer …

July 13, 2022 - 10:02 am Closing Bell Story‎, Energy News, Political News, Politics
Source: CNBC

U.S. energy secretary to meet with refining executives over soaring pump prices, sources say

CNBC


U.S. Energy Secretary Jennifer Granholm is expected to meet with refining executives on June 23 as tensions between the White House and the oil industry mount over soaring gasoline prices, sources familiar with the matter told Reuters.

The planned …

Source: API

Trade groups respond to President Biden’s letter to U.S. refiners

World Oil


Last night, American Petroleum Institute (API) President and CEO Mike Sommers and American Fuel & Petrochemical Manufacturers (AFPM) President and CEO Chet Thompson sent a letter to President Biden responding to recent letters the Administration sent to major …

Source: Reuters

Biden and the oil industry are talking past each other

Yahoo Finance


Remember the outrage when a handful of U.S. oil refineries closed in 2020?

If you don’t, that’s because there wasn’t any outrage. Oil and gasoline prices were blissfully low and the COVID-19 pandemic dominated the news. Hardly …

ExxonMobil statement regarding President Biden Letter to Oil Industry

ExxonMobil statement regarding President Biden Letter to Oil Industry

Yahoo Finance


IRVING, Texas, June 15, 2022–(BUSINESS WIRE)–ExxonMobil today released the following statement in response to a letter from President Biden.

ExxonMobil statement regarding President Biden Letter to Oil Industry- oil and gas 360

 

We have been in regular contact with the administration to update the President and his …

Source: Reuters

Biden criticizes U.S. oil refiners as profits soar

World Oil


Source: Reuters

Beirut to invite U.S. envoy for talks over maritime spat with Israel

US News


BEIRUT/JERUSALEM -Lebanon said on Monday it would invite a U.S. mediator to Beirut for negotiations over a disputed maritime boundary with Israel to prevent any escalation, after accusing Israel of encroaching on contested waters.

Israel said the dispute

Source: BOE Report

White House weighing oil profits tax to fund consumer rebate, official says

BOE Report


The White House is considering proposals that would tax oil and gas windfall profits in order to provide a benefit to consumers struggling with higher energy prices, a U.S. official said on Thursday.

Bharat Ramamurti, the deputy director …

Source: Reuters

OPEC+ brings forward oil output rises as Biden’s Saudi visit looms

Yahoo


DUBAI/LONDON/RIYADH -Saudi Arabia and other OPEC+ states agreed to bring forward oil production rises to offset Russian output losses to ease surging oil prices and inflation and smooth the way for an ice-breaking visit to Riyadh by U.S. President …

Source: Reuters

Eni set to open roubles account for Russia gas unless told otherwise by EU

Yahoo Finance


Italian energy giant Eni SpA is preparing to open ruble accounts at Gazprombank JSC, the latest sign that Europe’s united front against Moscow is splintering.

Eni’s move, which would potentially allow it to comply with Vladimir Putin’s demand …

Source: World Oil

Manchin’s bipartisan energy bill negotiations are bad news, not good, says analyst

World Oil


An analyst at Evercore ISI, which tracks many market and regulatory factors affecting oil and gas, says he has been getting questions this morning about the Monday/Tuesday overnight news that Senator Joe Manchin (D-W.V.) convened a bipartisan group, …

Source: CNBC

Putin talks tough on gas-for-rubles deadline. But flows continue to Europe

CNBC


Russian President Vladimir Putin has sought to ratchet up the pressure on foreign buyers of natural gas, telling so-called unfriendly countries to pay in rubles from Friday — or have their supplies cut off.

Perhaps surprisingly, however, the leaders …

Source: CNBC

GOP’s Marco Rubio says the U.S. should target Russian oil while boosting its own energy production

CNBC


The U.S. and its allies need to prevent Russia from exporting oil and natural gas as an economic deterrent for its unprovoked invasion of Ukraine, Sen. Marco Rubio told CNBC on Tuesday.

On “Squawk Box,” the Florida Republican, a …

March 1, 2022 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Politics
Source: CNBC

U.S. oil price surges 11% to $106 a barrel, a 7-year high prompted by Russia’s assault on Ukraine

CNBC


Oil prices surged Tuesday, with U.S. crude hitting its highest level since June 2014 as Russia bears down on Ukraine’s capital.

Prices first topped the $100 mark last Thursday when Russia invaded Ukraine, prompting fears of supply disruptions from …

Source: Reuters

Column: Iran nuclear talks near end as oil prices surge

Nasdaq


LONDON, Feb 23 – Nuclear negotiations between Iran and the United States are nearing the finish line with an announcement expected soon on a new deal to lift sanctions in exchange for renewed controls on uranium enrichment.

Diplomats have …

Source: Reuters

Cruz’s Nord Stream 2 sanctions bill fails in U.S. Senate

Reuters


The Senate on Thursday failed to pass a bill sanctioning the Nord Stream 2 pipeline, after the Biden administration aggressively lobbied Democrats to defeat Sen. Ted Cruz’s effort to target the Putin-backed project.

 

Why it matters: The 55-44 …

Source: CNBC

‘Absolutely unprecedented’: Massive protests in Kazakhstan are making international shockwaves

CNBC


Over the span of just two days, what began as protests over spiking fuel prices have snowballed into the most serious unrest the Central Asian nation of Kazakhstan, a major energy producer and long a symbol of stability among …

Source: Reuters

Biden orders U.S. to stop financing carbon-intense fossil fuel projects abroad

Nasdaq


WASHINGTON, Dec 10) – The Biden administration has ordered U.S. government agencies to immediately stop financing carbon-intensive fossil fuel projects overseas and prioritize international collaborations to deploy clean energy technology, according to U.S. diplomatic cables.

The cables, seen by …

December 10, 2021 - 3:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Politics
EQT says concern over LNG misguided, notes a ramped U.S. LNG program represents the biggest green initiative on the planet

EQT says concern over LNG misguided, notes a ramped U.S. LNG program represents the biggest green initiative on the planet

Oil and Gas 360


In Response to Letter from Sen. Warren, Top U.S. Producer Outlines Emissions Reduction Potential of an Accelerated Replacement of Foreign Coal Usage with Natural Gas for Baseload Power

PITTSBURGHDec. 7, 2021 /PRNewswire/ — EQT …

Source: World Oil

PDVSA uses cash-stuffed backpacks, scrap metal as pay to restart oil production

World Oil


CARACAS (Bloomberg) –Amid the rusted remnants of Venezuela’s once-mighty oil industry, a motley crew of obscure drillers has achieved a feat few thought possible: It’s more than doubled the country’s crude production in the space of a year.…

Source: World Oil

WPC 2021: ConocoPhillips CEO says U.S. government holds back oil supply

World Oil


(Bloomberg) –In the debate over why U.S. oil producers haven’t added additional supply, the boss of ConocoPhillips lays the blame squarely with the government.

An increasingly bitter war of words has developed between the Biden administration, which has …

Source: Reuters

Exxon CEO responds to White House’s call for investigation of ‘anti-consumer behavior’ at fuel companies

CNBC


Exxon said Wednesday that President Joe Biden’s call to investigate “potentially illegal conduct” within the oil and gas industry is unwarranted.

“If you go back in time in history, every time we see the supply and demand imbalances get …