sanctions – Page 2 – Oil & Gas 360

Latest US sanctions on Iranian oil deal blow to China’s Sinopec

October 10, 2025

(BOE Report)– The latest U.S. sanctions on Iranian petroleum exports deal a blow to Chinese refining giant Sinopec by targeting a terminal through which the state major handles one-fifth of its crude oil imports, industry executives and analysts said. The sanctions announced on Thursday further complicate U.S.-China relations, coming ahead of planned talks between Presidents Donald Trump and Xi Jinping

Iran and Russia discuss boosting nuclear energy cooperation

October 9, 2025

(Oil Price)– Russia and Iran this week discussed boosting their cooperation in nuclear energy, including in building small nuclear reactors (SMRs) in the Islamic Republic, Iranian media report. Mohammad Eslami, director of the Atomic Energy Organization of Iran (AEOI), discussed nuclear energy cooperation in Tehran with Nikolai Spassky, Deputy CEO for International Relations at Rosatom, Russia’s state-owned nuclear energy company.

Chevron’s return to Venezuela fuels controversy over oil payments to Maduro

August 1, 2025

(Oil Price)– Chevron will transfer part of the oil it produces in Venezuela to the Maduro government, Bloomberg has reported, citing unnamed sources. The deal follows the U.S. granting a sanction exemption to the supermajor so it could continue operating in Venezuela. The terms of the deal are similar to those of other international oil majors operating in Venezuela, Bloomberg’s

Oil rises 2% on US-EU trade deal, Trump’s shorter deadline for Russia

July 28, 2025

(Investing) – NEW YORK -Oil prices rose 2% on Monday after a trade deal between the U.S. and the European Union, and U.S. President Donald Trump’s announcement that he would shorten the deadline for Russia to end its war in Ukraine or face sanctions. Brent crude futures were up $1.36, or 2%, at $69.80 a barrel by 10:58 a.m. EDT (1458 GMT),

Exclusive-US firms to develop Syria energy masterplan after Trump lifts sanctions

July 21, 2025

(Investing) – DAMASCUS -U.S.-based firms Baker Hughes (NASDAQ:BKR), Hunt Energy and Argent LNG will develop a masterplan for Syria’s oil, gas and power sector, Argent LNG CEO Jonathan Bass said on Friday, in a partnership aimed at rebuilding energy infrastructure shattered by 14 years of civil war. The move marks a swift turnaround as U.S. companies enter a country previously under

Oil steadies near three-week high on signs of tighter supply

July 14, 2025

(Investing) – LONDON -Oil prices steadied on Monday, holding close to their highest level in three weeks, as investors eyed further U.S. sanctions on Russia that may affect global supplies, while tariff uncertainty weighed. Brent crude futures rose 16 cents, or 0.2%, to $70.52 a barrel by 1326 GMT, while U.S. West Texas Intermediate crude futures climbed 12 cents, also 0.2%, to

Oil steadies near $75 as market weighs tariffs, sanctions

April 1, 2025

(Investing) – LONDON -Oil prices steadied near five-week highs on Tuesday as threats by U.S. President Donald Trump to impose secondary tariffs on Russian crude and attack Iran countered worries about the impact of a trade war on global growth. Brent futures were up 3 cents, or 0.04%, at $74.80 a barrel at 1352 GMT, after rising to above $75 a barrel

Oil rises on supply concerns as market awaits clarity on sanctions

February 19, 2025

(Investing) – NEW YORK – Oil prices rose about 1% to a one-week high on Wednesday on worries about supply disruptions in Russia and the U.S., while the market awaits clarity on sanctions as the U.S. attempts to broker a deal to end the war in Ukraine. Brent futures were up 65 cents, or 0.9%, at $76.49 a barrel by 10:38 a.m.

Oil climbs 1% to 3-week high as more sanctions loom on Russia, Iran

December 13, 2024

(Investing)– NEW YORK – Oil prices edged up about 1% to a three-week high on Friday on expectations additional sanctions on Russia and Iran could tighten supplies, while lower interest rates in Europe and the U.S. could boost demand for the fuel. Brent futures rose 67 cents, or 0.9%, to $74.08 a barrel by 10:55 a.m. EST (1555 GMT). U.S. West Texas

Russia dethrones U.S. as top EU natural gas supplier

June 17, 2024

Oil Price Russia became the biggest supplier of natural gas to Europe last month, for the first time since 2022, replacing the United States at the top spot. “It’s striking to see the market share of Russian gas and [liquefied natural gas] inch higher in Europe after all we have been through, and all the efforts made to decouple and

Exclusive-US to favor existing investors for Venezuela oil licenses, say sources

May 16, 2024

U.S. News HOUSTON/WASHINGTON – The U.S. is preparing to prioritize issuing limited licenses to operate in Venezuela to companies with existing oil production and assets over those seeking to enter the sanctioned OPEC nation for the first time, two people close to the discussions said. The move appears designed to encourage companies that have projects frozen because of U.S. sanctions,

Iran’s oil exports climb to the highest level in 6 years

April 18, 2024

Oil Price Crude oil exports from Iran hit the highest level in six years during the first quarter of the year, data from Vortexa cited by the Financial Times has shown. The daily average over the period stood at 1.56 million barrels, almost all of which was sent to China, earning Tehran some $35 billion. “The Iranians have mastered the art of

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