Trump Administration – Oil & Gas 360

U.S. Department of Energy pledges $1 billion in critical mineral funds

August 14, 2025

(Oil Price)– The U.S. Department of Energy has announced close to $1 billion in funding opportunities for stimulating domestic mining, processing, and manufacturing ventures involving critical minerals in a bid to reduce the country’s dependence on imports. About half of the total will be spent on battery manufacturing and recycling, despite the Trump administration’s negative attitude to electric vehicles, which drove

White House looks to oust IEA’s second-in-command

August 7, 2025

(Oil Price)– The United States looks to replace the deputy executive director of the International Energy Agency (IEA), the second-in-command role in the agency that is usually reserved for a U.S. representative, POLITICO’s E&E News reported on Thursday, quoting former U.S. officials and energy industry insiders familiar with the plan. American Mary Burce Warlick is currently the Deputy Executive Director of the

Venezuela’s oil exports fell 10% in July

August 4, 2025

(Oil Price)– Venezuela’s crude and fuel exports fell in July by some 10% from June to average 727,000 barrels per day (bpd), as Chevron and other partners of state oil firm PDVSA were waiting for U.S. authorizations to resume operations and exports that were prohibited in May. Venezuela also exported about 227,000 metric tons of oil by-products and petrochemicals last

U.S., Pakistan sign deal to develop oil reserves, improve trade ties

August 1, 2025

(World Oil)– The U.S. sealed a trade deal with Pakistan as their officials wrapped up talks in Washington, agreeing to develop oil reserves. The pact involves a reduction of the so-called reciprocal tariffs, especially on Pakistani exports, according to a statement by Pakistan’s finance ministry on Thursday. No details on tariffs were shared by either side. U.S. President Donald Trump

Trump, Zeldin reversal of greenhouse gas ruling applauded by Texas regulatory agency

July 30, 2025

(World Oil)– The Trump administration and Environmental Protection Agency (EPA) Administrator Lee Zeldin have announced the agency will reverse the 2009 ‘endangerment finding’, which made greenhouse gases, including carbon dioxide (CO₂), pollutants subject to agency regulation. This finding provided the legal framework to regulate CO₂ and enabled the Net Zero movement to gain traction both in the U.S. and worldwide.

Trump says Japan, US to form LNG joint venture

July 23, 2025

(BOE Report)– U.S. President Donald Trump said on Tuesday that Japan will form a joint venture to develop a liquefied natural gas project in Alaska though a Japanese government official said he was not aware of such plans. It was not immediately clear whether Trump was referring specifically to the proposed $44 billion Alaska LNG project. That project would consist

US not rushing trade deals ahead of August deadline, will talk with China, Bessent says

July 21, 2025

(BOE Report)– The Trump administration is more concerned with the quality of trade agreements rather than their timing, U.S. Treasury Secretary Scott Bessent said on Monday ahead of an Aug. 1 deadline for securing a trade deal or facing steep tariffs. “We’re not going to rush for the sake of doing deals,” Bessent told CNBC in an interview. Asked whether

Trump hints at sanctions for Russian crude, oil prices go up

July 14, 2025

(World Oil)– West Texas Intermediate advanced almost 3% to settle above $68 a barrel after President Donald Trump said he plans to make a “major statement” on Russia on Monday and reiterated criticism of President Vladimir Putin. One sanctions bill, which at least 85 senators have endorsed, would levy 500% tariffs on China and India if they make any purchases

Trump’s flip-flop on emergency oil reserves has its merits: Bousso

July 10, 2025

(BOE Report)– LONDON, July 10 – U.S. President Donald Trump’s signature budget bill slashed funding for refilling U.S. emergency oil reserves, violating his previous vow to fill them “right to the top”. This about-face raises the question of whether the U.S. still needs the Strategic Petroleum Reserve at all. The American SPR is the world’s largest emergency oil storage, able

Oil prices dip on tariff expectations

July 9, 2025

(Oil Price)– Crude oil prices took a dip today after hitting a two-week high earlier, as traders awaited updates on President Trump’s tariff plans, following the latest delay in trade deals with some key partners such as Japan and South Korea. Brent crude was trading at $70.07 per barrel at the time of writing, with West Texas Intermediate changing hands for $68.26 per

US proposes rules that could boost oil, gas output in US West

July 8, 2025

(BOE Report)– The U.S. Interior Department on Monday proposed rule changes to allow energy companies to more easily combine oil and gas output from multiple leases using the same well pad, which could save the industry as much as $1.8 billion per year, it said. The proposed rule change, which would mostly affect onshore oil and gas drilling in the

U.S. shale to slow drilling as Trump’s tariffs rattle executives

July 3, 2025

(World Oil) – U.S. shale executives expect to drill significantly fewer wells this year than planned at the start of 2025, as lower oil prices and uncertainty around President Donald Trump’s tariffs hurt profits, according to a Federal Reserve Bank of Dallas survey. Almost half of oil executives said they expect to drill fewer wells in 2025 than planned at

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