Post Tagged with: "sanctions"

Source: Reuters

Lobbying for Russian pipeline spikes in Washington

Reuters


WASHINGTON – As U.S. lawmakers plot to stop one of Moscow’s most important projects in Europe, the Nord Stream 2 pipeline, lobbyists supporting it are busier than ever but disclosing few details of their work, according to government filings …

Source: Reuters

Iran’s oil storage almost full as sanctions and pandemic weigh

Reuters


LONDON – Iran has slashed crude oil production to its lowest level in four decades as storage tanks and vessels are almost completely full due to a fall in exports and refinery run cuts caused by the coronavirus pandemic, …

South Korea’s U.S. crude imports jump in September; no imports from Iran

South Korea’s U.S. crude imports jump in September; no imports from Iran

Source: Reuters


SEOUL (Reuters) – South Korea’s crude oil imports from the United States more than doubled in September, while its imports of Iranian oil remained zero for a fifth month in a row due to U.S. sanctions, customs data …

Source: Citgo

Citgo’s New CEO Confident in an Uncertain Time

From The Houston Chronicle


Houston’s Citgo Petroleum is under attack on multiple fronts. Creditors for its parent company want to seize its refineries. It’s at the center of a fight for control over Venezuela. The Justice Department is investigating it …

Source: Citgo

U.S. Court Confirms Citgo Board Appointed by Venezuela’s Opposition

From The Houston Chronicle


In a victory for Venezuela’s opposition government, a U.S. judge confirmed Citgo Petroleum’s board of directors appointed by Juan Guaido, squashing socialist leader Nicolas Maduro’s efforts to regain control over the Houston oil refiner.

On Wednesday …

Iranian Tanker Sought by US Heading Toward Greece

Iranian Tanker Sought by US Heading Toward Greece

From The Houston Chronicle


An Iranian supertanker with $130 million worth of light crude oil that the U.S. suspects is tied to a sanctioned organization left Gibraltar and was heading east into the Mediterranean Sea on Monday, with its next …

Gibraltar Releases Captured Iranian Oil Tanker, US Makes Immediate Request to Seize Vessel

Gibraltar Releases Captured Iranian Oil Tanker, US Makes Immediate Request to Seize Vessel

From CNBC


An Iranian oil tanker held in Gibraltar since early July has been officially released by local authorities, although it may not sail if a U.S. application to seize the vessel proves successful.

On July 4, Gibraltar authorities with …

Panama Canal Will Not Block Venezuela Vessels Despite U.S. Sanctions

Panama Canal Will Not Block Venezuela Vessels Despite U.S. Sanctions

From Reuters


The Panama Canal will continue authorizing vessels coming from Venezuela provided they present the necessary paperwork, the waterway’s chief said on Wednesday, suggesting a new round of U.S. sanctions on the South American nation should not make a …

Source: Citgo

CITGO Board Appoints Former Venezuelan Oil Executive as CEO

From The Houston Chronicle


CITGO’s board of directors has appointed former Venezuelan oil executive Carlos Jorda as CEO of the embattled Houston refining company.

In a statement released on Wednesday morning, the company’s board reported that the year-long search for …

Iran Says it Expects Tanker Held by U.K. to Be Released Soon

Iran Says it Expects Tanker Held by U.K. to Be Released Soon

From The Houston Chronicle


Iran expects an oil tanker seized by the U.K. in the Strait of Gibraltar in July will be released soon, the semi-official Fars News agency reported Tuesday, a move that could help to ease concerns about …

China Continued Iran Oil Imports in July in Teeth of U.S. Sanctions: Analysts

China Continued Iran Oil Imports in July in Teeth of U.S. Sanctions: Analysts

From Reuters


China imported Iranian crude oil in July for the second month since a U.S. sanctions waiver ended, according to research from three data firms, with one estimate showing some oil entered tanks holding the country’s strategic reserves.

According …

Oil Prices Could Crash by $30 if China Buys Iranian Crude: BofA

Oil Prices Could Crash by $30 if China Buys Iranian Crude: BofA

From CNBC


Crude oil prices could sink by as much as $30 a barrel if China decides to buy Iranian crude oil in retaliation to the latest U.S. tariff measures, according to Bank of America Merrill Lynch.

“While we retain …

UK Joins United States for Maritime Security Mission in Gulf

UK Joins United States for Maritime Security Mission in Gulf

From Reuters


Britain on Monday joined the United States in a maritime security mission in the Gulf to protect merchant vessels travelling through the Strait of Hormuz after Iran seized a British-flagged vessel.

British officials stressed that there was no …

Source: Citgo

Venezuela Faces the Loss of Citgo – and Desperately Needed Dollars

From The Houston Chronicle


Venezuela could lose its largest U.S. asset after a court allowed a Canadian gold miner to seize shares of Citgo Petroleum Corp.’s parent to satisfy an arbitration award.

A U.S. appeals court ruled on Monday that …

OPEC Oil Output Hits Lowest Since 2011 on Saudi Cut, Sanctions: Reuters Survey

OPEC Oil Output Hits Lowest Since 2011 on Saudi Cut, Sanctions: Reuters Survey

From Reuters


OPEC oil output hit an eight-year low in July as a further voluntary cut by top exporter Saudi Arabia deepened losses caused by U.S. sanctions on Iran and outages elsewhere in the group, a Reuters survey found.

The …

Oil Rises as U.S. Crude Stocks Fall Again, Fed Cuts Interest Rates

Oil Rises as U.S. Crude Stocks Fall Again, Fed Cuts Interest Rates

From Reuters


Oil prices rose for a fifth day on Wednesday following a larger-than-expected drop in U.S. inventories and after the Federal Reserve cut U.S. interest rates for the first time in more than a decade.

The front-month Brent crude …

Opinion: Oil is Probably the Reason We Won’t Go to War With Iran

Opinion: Oil is Probably the Reason We Won’t Go to War With Iran

From CNBC


Many cynics have long contended that the real reason the U.S. entered a slew of recent wars was only to protect American oil interests. But now it’s beginning to look like oil may be a major reason why …

U.S. Sanctions China’s State-Run Oil Company for Buying from Iran

U.S. Sanctions China’s State-Run Oil Company for Buying from Iran

By Tyler Losier, Energy Reporter, Oil & Gas 360

Secretary of State Mike Pompeo announces sanctions for Zhuhai Zhenrong and its chief executive
The United States government will be imposing sanctions on Zhuhai Zhenrong Company Limited, a state-run oil company

Muhammad bin Salman, Deputy Crown Prince of Saudi Arabia
Photo Credit: The Economist

Saudi Arabia Urges Global Community to Deter Maritime Trade Disruptions

From Reuters


Saudi Arabia’s cabinet said on Tuesday that Iran’s interception of commercial vessels in Gulf waters, including its seizure of a British tanker, violated international law and must be prevented.

The Saudi remarks came after Britain called on Monday …

Millions of Barrels of Iranian Oil Are Piled Up in China’s Ports

Millions of Barrels of Iranian Oil Are Piled Up in China’s Ports

From Bloomberg


Iran-owned tankers continue to haul shipments to bonded tanks, oil held by Iran’s state-owned producer and Chinese companies

Tankers are offloading millions of barrels of Iranian oil into storage tanks at Chinese ports, creating a hoard of crude …

India’s MRPL Buys its First U.S. Thunder Horse Oil

India’s MRPL Buys its First U.S. Thunder Horse Oil

From Reuters


India’s state-run Mangalore Refinery and Petrochemicals Ltd (MRPL) has made its first purchase of U.S.-produced Thunder Horse crude oil via a tender for mid-October delivery, its managing director M. Venkatesh said on Friday.

“The price offered was very …

Supertanker Suspected of Violating Sanctions Seized Off the Coast of Gibraltar

Supertanker Suspected of Violating Sanctions Seized Off the Coast of Gibraltar

By Tyler Losier, Energy Reporter, Oil & Gas 360

Vessel suspected of carrying Iranian oil to Syria in violation of EU sanctions
An Iranian supertanker carrying oil allegedly bound for Syria was detained in Gibraltar by British Royal Marines this

Source: EIA

U.S. Gulf Coast Crude Oil Imports at Lowest Level Since 1986

Domestic production has reduced imports approximately 83% since peak
As of March of this year, the EIA estimates that the United States Gulf Coast imports approximately 1.8 million barrels of crude oil per day (BOPD), the lowest recorded rate since

U.S. Warns Hong Kong to Avoid Tanker in Breach of Iran Sanctions | Hong Kong Rejects Warning

U.S. Warns Hong Kong to Avoid Tanker in Breach of Iran Sanctions | Hong Kong Rejects Warning

From Bloomberg


Pacific Bravo en route Hong Kong, senior U.S. official says accepting the ship would expose city to sanctions

The U.S. warned Hong Kong that it could face penalties if it does business with an oil tanker headed for …

May 29, 2019 - 6:35 am China, Closing Bell Story‎, Energy News, Trade
Boxed In: $1 Billion of Iranian Crude Sits at China’s Dalian Port

Boxed In: $1 Billion of Iranian Crude Sits at China’s Dalian Port

From Reuters

SINGAPORE (Reuters) – Some 20 million barrels of Iranian oil sitting on China’s shores in the northeast port of Dalian for the past six months now appears stranded as the United States hardens its stance on importing crude …

Iranian Parliament Officially Labels U.S. Forces a Terrorist Group

Iranian Parliament Officially Labels U.S. Forces a Terrorist Group

Iranian parliament officially labels U.S. CENTCOM a terrorist group

U.S. Buyers of Venezuelan Oil Sub in Shell, Bp Offshore Crude

U.S. Buyers of Venezuelan Oil Sub in Shell, Bp Offshore Crude

From Reuters

Sanctions on Venezuela’s oil industry have made winners out of Gulf of Mexico offshore heavyweights Royal Dutch Shell Plc and BP Plc as U.S. refiners in need of substitutes are scooping up oil produced in the region.

The …

March 25, 2019 - 2:33 pm Closing Bell Story‎, Crude Oil News, Energy News
State Department Issues Venezuela Travel Advisory

State Department Issues Venezuela Travel Advisory

State Department issues Venezuela travel advisory

January 29, 2019 - 3:20 pm Closing Bell Story‎, Press Releases
U.S. Sanctions Venezuela’s PDVSA

U.S. Sanctions Venezuela’s PDVSA

Move cuts off Venezuela’s main cash source
The U.S. government announced sanctions on Venezuela’s PDVSA today, marking a major increase in the administration’s pressure campaign against Maduro’s regime.

While the U.S. has sanctioned many individuals involved in Venezuela’s government, it

U.S. Refiners Scramble as White House Eyes Venezuela Sanctions

U.S. Refiners Scramble as White House Eyes Venezuela Sanctions

From Reuters

U.S. refiners are bidding up prices for scarce types of crude oil needed for their most sophisticated plants as the United States reconsiders harsher sanctions on Venezuela that could further reduce imports of the country’s oil.

Trump administration …

January 21, 2019 - 11:35 am Closing Bell Story‎, Crude Oil News, Energy News