Reuters WASHINGTON – The U.S. Treasury Department on Tuesday issued a new license to Chevron Corp, the last major U.S. oil company still operating in Venezuela, giving it until June 3 to wind down its joint ventures in the OPEC member nation. The United States last year imposed sanctions barring imports of Venezuelan oil and transactions made in U.S. dollars
Reuters WASHINGTON – Sanctions that could hinder one of Moscow’s most important projects in Europe, the Nord Stream 2 natural gas pipeline, have been included in the annual U.S. defense policy bill, two congressional aides said on Wednesday. The sanctions in the compromise National Defense Authorization Act between lawmakers in the House and Senate would penalize companies facilitating the construction
CNBC As world leaders congratulate Democrat Joe Biden for his projected victory in the U.S. presidential election, Russia’s decision not to do so speaks volumes. Analysts noted that while many European leaders congratulated Biden, expressing a desire to renew erstwhile tense relations with the U.S. and work constructively with the new administration, Russia did not comment on the projected win for
Reuters MOSCOW – The world’s largest group of shipping insurers will not insure vessels involved in the Russian-led Nord Stream 2 and TurkStream gas pipeline projects because of the threat of U.S. sanctions. Associations belonging to the International Group of P&I Clubs, including the Shipowners’ Club and the London P&I Club, said in a circular on Monday that it would
CNBC MOSCOW – Russia’s largest oil producer, Rosneft, said on Thursday it had started to drill an exploration well at a hard-to-recover oil project, its first without any partners. Russia plans to develop hard-to-recover oil and shale but is hampered by Western sanctions over Moscow’s annexation of Crimea from Ukraine in 2014. Rosneft has started to drill a first exploration
Reuters FRANKFURT – A delegation of EU member states has raised concerns with the U.S. State Department that sanctions in response to the construction of the Nord Stream 2 gas pipeline under the Baltic Sea are a breach of international law, a report said on Friday. A European delegation representing 24 member states out of 27 communicated a diplomatic position
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 and current and former U.S. officials. The pipeline linking Russian gas fields to Western Europe has become a lightning rod
Reuters Venezuela’s crude output fell in June to the lowest level in nearly eight decades, data the country provided to OPEC showed on Tuesday, as U.S. sanctions on state oil company Petroleos de Venezuela choke off exports. Venezuela’s production tmsnrt.rs/2SNPoam was 393,000 barrels per day (bpd) in June, down from 573,000 bpd in May and down 52% from an average
Reuters MOSCOW – Russia kept fuel oil exports to the United States close to its record-highs in the first six months of this year, as Washington looks to replace the heavy Venezuelan barrels it stopped buying a year ago, traders said and data showed. The U.S. imposed sanctions on Venezuelan oil last year in an effort to squeeze out President
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, industry data showed. Total onshore crude stocks surged to 54 million barrels in April from 15 million barrels in January,
MarineLink Oil & Gas Publishers Note: We have been covering this story on China and other countries trying to go around the U.S. sanctions on Venezuela. It is interesting that the refineries are watching where the shipments are originating. 16 Tankers holding 18.1 million barrels is a lot of oil. Tankers carrying nearly two months worth of Venezuelan oil output
The Trump administration has imposed sanctions against a shipping network of Mexican companies and nationals it accuses of working with the embattled government of Venezuelan President Nicolas Maduro to evade U.S. sanctions. Three Mexicans, eight companies and two oil tankers have been blacklisted for their efforts to evade U.S. sanctions imposed on the Venezuelan oil sector through a so-called oil-for-food
