(BOE Report) – The Iran-backed Houthis are seeking to control the whole Yemeni Red Sea coast, which would further consolidate their leverage over the Bab el-Mandeb Strait — one of the busiest and most contested global maritime chokepoints. The militant group has already declared a naval blockade against Saudi Arabia, the world’s largest oil exporter, and Houthi dominance over the
(BOE Report) – At least three Indian oil refiners and a global energy major plan to stop using vessels on Iran’s new blacklist, including for ship-to-ship transfers, due to security concerns, four sources with direct knowledge of the matter said this week. Tehran announced on Sunday a blacklist of 45 ships it said had broken its rules for crossing the
(Investing) – President Donald Trump criticized oil companies on Monday and demanded they reduce gasoline prices for American consumers. In a Truth Social post, Trump specifically addressed Chevron CEO Mike Wirth for not acknowledging the administration’s support of the oil industry during a television interview. Trump stated that his administration helped create opportunities for oil companies, including establishing a market in
(World Oil) – The head of ConocoPhillips said Venezuela’s initial steps to attract foreign oil companies that could help revive the nation’s production are falling well short of what’s needed to convince firms to invest. The recent changes to Venezuela’s oil law intended to entice foreign drillers still give the government wide latitude to charge royalties of up to 30%, as much as
(BOE Report) – Indian oil companies are looking to buy U.S. liquefied natural gas (LNG), buoyed by the Trump administration’s lifting of a ban on export permits for new projects, Oil Secretary Pankaj Jain said on Monday. The world’s fourth largest importer of LNG, India aims to raise the share of gas in its energy mix to 15% by 2030
