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Oil Rise, Lifted by U.S.-China Trade Deal Hopes, OPEC Cuts

December 26, 2019 Focus Washington

Oil prices rose on Thursday, buoyed by a potential breakthrough in the Chinese-U.S. trade war and OPEC-led efforts to constrain supply, although trading was quiet as many markets were in holiday mode, Reuters informed. Brent […]

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Syria Says Rockets Damage Homs Refinery

December 21, 2019 Focus Washington

Rockets were fired overnight at Syria’s main Homs refinery and two gas units causing minor damage and disrupting production, oil officials said on Saturday, calling it a “terrorist attack”, Reuters writes. Fires were extinguished after […]

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Russia Gas Export Pipeline in Jeopardy as U.S. Sanctions Loom

December 21, 2019 Focus Washington

Swiss-Dutch company Allseas said it had suspended work on building a major Russia-to-Germany natural gas pipeline in order to avoid U.S. sanctions contained in legislation signed by President Donald Trump on Friday, Reuters writes. The […]

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OPEC Considering Deeper Production Cuts

December 5, 2019 Focus Washington

OPEC’s meetings appear to be in disarray even before they begin this week, but analysts see a growing chance the fractured group may ultimately agree to deeper production cuts, CNBC writes. Members of the Organization […]

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Oil Prices Slightly Rise Before OPEC Meeting

December 4, 2019 Focus Washington

Oil gained on Wednesday ahead of meetings this week where OPEC and its allies are expected to extend production curbs to support the market, while industry data showing that U.S. crude stockpiles fell more than […]

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Russia Switches on Gas Mega Pipeline to China

December 3, 2019 Focus Washington

Russia switched on an enormous gas pipeline to China worth billions of dollars Monday, affirming increasingly close economic and political ties between the two countries, CNN reports. Named the “Power of Siberia,” the pipeline runs […]

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OPEC November Oil Output Slips Before Aramco IPO

November 30, 2019 Focus Washington

OPEC oil output has fallen in November as Angolan production has slipped due to maintenance and Saudi Arabia has kept a lid on supply to support the market before the initial public offering (IPO) of […]

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Venezuelan Oil to Back Sanctioned Cryptocurrency

November 21, 2019 Focus Washington

Venezuelan President Nicolas Maduro on Wednesday said some 30 million barrels of oil sitting in storage tanks would serve as backing for the OPEC nation’s state-run cryptocurrency, the petro, which has been sanctioned by the […]

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Saudi Arabia Raises October Oil Output

November 11, 2019 Focus Washington

Saudi Arabia raised its oil output in October to 10.3 million barrels per day but kept its supply to the oil markets below its OPEC output target, a Saudi industry source familiar with the kingdom’s […]

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Iran Claims It Found New Oilfield with 53bn Barrels of Crude

November 11, 2019 Focus Washington

Iran has discovered a new oilfield in the southwest of the country that has the potential to boost its reserves by about a third, Iranian President Hassan Rouhani said on Sunday, Reuters informed. “Workers and […]

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Iran Needs Oil at $195 a Barrel Next Year to Balance Budget, IMF Says

October 28, 2019 Focus Washington

Iran would need oil priced at $194.6 a barrel to balance its budget next year, the International Monetary Fund (IMF) said, Reuters informs. Hurt by tighter U.S. sanctions, Iran – a key member of the […]

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Venezuelan Opposition Gets Reprieve in Battle to Keep Citgo

October 25, 2019 Focus Washington

The White House on Thursday temporarily shielded Venezuela’s opposition coalition led by Juan Guaido from losing the country’s valuable U.S.-based Citgo refineries, AP/Voice of America reported. The opposition is banking on profits from its Houston-based […]

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Traders, Vessel Operators Reject Venezuelan Oil

October 11, 2019 Focus Washington

According to Reuters, more vessel operators and energy firms are shunning Venezuelan oil and the tankers that have carried it, according to brokers and traders familiar with the matter. Unipec, the trading arm of China’s […]

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Venezuela Detains Local President of Joint Oil Venture with China

October 7, 2019 Focus Washington

Venezuelan authorities have arrested the president and two other officials in a corruption investigation at state oil company PDVSA’s Sinovensa joint venture with China National Petroleum Corp (CNPC), oil sector and intelligence sources said on […]

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Oil Prices Stable after U.S., Russia Report Decrease in Production

October 1, 2019 Focus Washington

As the world’s largest oil producers including the United States and Russia reported a decrease in oil production in September, oil prices rebounded on Tuesday from losses a day earlier, Reuters reports. Still, a resumption […]

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Saudi Energy Minister Says Oil Production to Be Fully Restored by End of Month

September 17, 2019 Focus Washington

Saudi Arabia’s energy minister said the Kingdom will have restored its oil production by the end of the month after attacks on two major Aramco facillites, Arab News reported. Prince Abdulaziz bin Salman told a press […]

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Putin Says Nord Stream 2 Will Be Finished despite U.S. Threats

August 22, 2019 Focus Washington

Russian President Vladimir Putin said U.S. sanction threats are not enough to stop Russia’s Nord Stream 2 gas pipeline project because Europe needs Russian gas supplies, RIA Novosti reports. “The objective side of the matter is that […]

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U.S. Sends First Ever Batch of Oil to Ukraine

July 13, 2019 Focus Washington

British oil giant BP has sold the first ever batch of crude oil supplied from the United States to Ukrainian state company Ukrtatnafta, Reuters reported. The move is seen as another blow to Moscow amid […]

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Oil Rises as Tensions around Iran’s Nuclear Program Developments

July 8, 2019 Focus Washington

Oil prices rose on Monday, boosted by escalating tensions around Iran’s nuclear program and better-than-expected U.S. jobs data, Reuters writes. Brent crude futures were up 34 cents by 0908 GMT at $64.57. U.S. West Texas […]

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OPEC to Extend Oil Supply Cut as Iran Endorses Pact

July 1, 2019 Focus Washington

OPEC and its allies look set to extend oil supply cuts this week at least until the end of 2019 as Iran joined top producers Saudi Arabia, Iraq, and Russia in endorsing a policy aimed […]

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Exxon’s $53bn Iraq Deal Hit by Contract Snags, Iran Tensions

June 21, 2019 Focus Washington

Just weeks ago, U.S. energy giant ExxonMobil looked poised to move ahead with a $53 billion project to boost Iraq’s oil output at its southern fields, a milestone in the company’s ambitions to expand in […]

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Middle East Clashes Increase Oil Prices

June 20, 2019 Focus Washington

Oil prices climbed sharply Thursday as tensions in the Middle East continued to spiral and the dollar fell, extending a period of high volatility for crude, The Wall Street Journal reported. Brent crude, the global […]

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Senators to Introduce Bill Sanctioning Nord Stream 2 Companies

May 15, 2019 Focus Washington

Two U.S. Senators, Republican Ted Cruz and Democrat Jeanne Shaheen, have announced plans to introduce a bipartisan bill to sanction companies associated with Russia’s Nord Stream 2 pipeline, Reuters reports. The controversial gas pipeline project […]

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Saudi Arabia Reports Drone Attack against Pipeline Infrastructure

May 14, 2019 Focus Washington

Oil prices rose sharply Tuesday morning on reports of a drone attack at oil pumping stations in Saudi Arabia, CNBC informs. The incident is an “act of terrorism,” Saudi Energy Minister Khalid al-Falih said according […]

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Iran’s Oil Minister Says OPEC ‘Likely to Collapse’

May 3, 2019 Focus Washington

Iran’s oil minister is warning that OPEC is “likely to collapse” because some members of the 14-nation group are working against their fellow producers, CNBC informs. The comment appears to be a reference to Saudi […]

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EPA Will Repeal Power Plant Rule

October 10, 2017 Focus Washington

Environmental Protection Agency Chief Scott Pruitt announced he will take steps to repeal the Obama rule which limits greenhouse-gas emissions, claiming “the war against coal is over.” Pruitt said Monday the new proposed rule is […]

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Trump’s Interior Department Likely to Delay Methane Leak Controls

October 5, 2017 Focus Washington

The Interior Department will probably delay the controls it previously planned to impose on the oil and gas industry. These rules were intended to capture methane emissions released during oil and gas production, but will […]

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U.S. Gasoline Prices Drop as Harvey Descends

September 4, 2017 Focus Washington

Gasoline prices in the United States fell by over 4 percent on Monday, as oil refineries and pipelines in the Gulf Coast resumed work following Hurricane Harvey, which has eased worries over the shortage in […]

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Post-Harvey Fuel Shortage Hampers Labor Day Travels

September 1, 2017 Focus Washington

Travelers and fuel suppliers across the United States braced for higher prices and shortages ahead of the Labor Day holiday weekend as the country’s biggest fuel pipelines and refineries curb operations after Hurricane Harvey, Reuters […]

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Energy Department Report Aims to Boost Coal, Nuclear Power

August 24, 2017 Focus Washington

A new federal study into the changing electricity sector mostly affirms the market-driven decline of coal and nuclear power while providing a series of policy recommendations to boost the two fuels, The Hill reports. The […]

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