Tag

Oil And Gas

All articles tagged with #oil and gas

world17 days ago•5 min saved

US and Arab partners eye $10B fund to reroute Middle East energy away from Hormuz

The US is discussing a $10 billion joint investment fund with Arab states to repair energy and related infrastructure damaged in the Iran war and to build new pipelines and facilities to bypass the Strait of Hormuz. The plan, named the Partnership for Allied Construction & Trust (Pact), would see $5 billion from the US and roughly $5 billion from regional partners into a holding company, with sovereign wealth funds and private firms like Blackstone, BlackRock’s Global Infrastructure Partners and KKR named as potential co-investors. Negotiations would begin in October under US chairmanship, and proponents describe Pact as a “historic $50bn+ investment platform” to diversify energy routes and reduce chokepoint leverage. The move follows Hormuz disruptions that have pushed oil and gas prices higher, with some Gulf states already exploring alternative pipelines. The White House declined to comment.

via ft.com|

#energy-security #infrastructure-investment #middle-east-war

politics18 days ago•7 min saved

Diesel Dilemma: Farm States Push Export Ban as Prices Surge

Farm-state Republicans push for a diesel export ban to ease record-high prices, arguing it would help farmers, while oil industry officials warn such a move would cut supply and raise costs; the White House is weighing actions as diesel hits a record, underscoring a clash between agriculture and energy interests ahead of the elections.

via Politico|

#agriculture #diesel #export-ban

business18 days ago•2 min saved

Arctic deal sparks rally in Greenland-listed stocks

U.S.-listed Greenland-focused stocks jumped in premarket trading after a security pact among the United States, Denmark and Greenland to expand a military presence in the Arctic and block rivals, with Greenland Energy up about 165%, Greenland Mines over 110% and Critical Metals Corp around 26%. The deal, expected to be signed at the UN General Assembly, underscores geopolitical moves in Greenland and supports the companies’ resource projects: Greenland Energy in Jameson Land Basin oil/gas, Greenland Mines in Skaergaard palladium/gold/platinum, and Critical Metals’ Tanbreez rare earths prospect.

via CNBC|

#arctic-security #business #greenland

world25 days ago•3 min saved

Oil-price surge tests White House as energy markets reel from global conflict

Rising oil and diesel prices driven by wars in the Middle East and Europe are squeezing consumers and constraining the White House’s options ahead of the midterms, with oil around $109 a barrel, diesel at a record $6.23 per gallon, and regular gas at $4.32. Disruptions include a Saudi pipeline outage, an Iranian proxy gaining hold at a key energy chokepoint, Ukrainian strikes on refineries, and Straits of Hormuz tensions, leaving the administration with few quick solutions.

via Politico|

#energy #inflation #iran-war-2026

business25 days ago•3 min saved

Early demand surges for Dangote Refinery's $1.6B IPO in Nigeria

Dangote Refinery's $1.6 billion IPO kicked off with strong early interest—orders totaling over 10 billion naira within hours, though still less than 0.5% of the target—as the company seeks to raise 2.15 trillion naira from 4.1 billion shares at 525 naira each. The offer runs to Oct 13, with listing on the Nigerian Exchange expected in November. Proceeds will fund a $14.3 billion expansion to double capacity to 1.4 million barrels per day by 2029/30, potentially making it Africa's largest listing and boosting Nigeria's equity market. Prior private placements raised $2.5 billion, signaling broad appetite for the project.

via Business Insider Africa|

#africa-capital-markets #business #dangote-refinery-ipo

world28 days ago•208 min saved

MidEast Oil Lifeline Targeted as Saudi Pipeline Hit by Projectiles

Saudi Arabia’s East-West oil pipeline was struck by projectiles, triggering fires at pumping stations and highlighting vulnerabilities in regional energy exports amid rising Middle East tensions. US officials said drones from Iraq may have been involved, with satellite images showing fires at multiple pumping stations and the broader context of Iran-aligned proxies and shipping disruptions. Repair timelines remain unclear as oil markets react to the incident.

via CNN|

#energy-security #geopolitics #middle-east

world1 month ago•4 min saved

Saudi Aramco facilities struck again as Yemen conflict flares

Saudi Aramco’s Jizan refinery and related energy infrastructure near Yemen’s border were struck in new attacks, the second such strike in weeks; damage is being assessed and officials say there has been no material impact on overall production. The Houthis have intensified attacks amid the Yemen conflict and threats to Red Sea shipping, pushing oil markets higher as Brent crude neared $97.40 a barrel.

via Financial Times|

#houthi-movement #middle-east-war #oil-and-gas

business1 month ago•125 min saved

Chevron expands Venezuela operations amid high-stakes oil deal

Chevron confirmed plans to expand operations in Venezuela, potentially securing a 100-year concession over 17 oil fields via a joint venture with the state oil company PDVSA. The move is touted by U.S. officials as boosting American energy presence, but experts warn that Venezuela’s legal authority and aging oil infrastructure will heavily influence viability, and analysts caution it won’t instantly lower gasoline prices amid rising U.S. pump prices.

via AP News|

#business #chevron #exxon-mobil

us-politics-and-policy1 month ago•7 min saved

Trump-backed Venezuela oil deal sparks investor caution over legitimacy

The Trump administration unveiled an agreement making Alejandro Betancourt’s NABEP the minority partner in a new company that will oversee more than 65 billion barrels of Venezuela’s oil reserves, with licences or joint ventures planned for 17 fields and potential investor guarantees from the Office of Strategic Capital to lure funding. While the aim is to restore confidence in Venezuela’s oil sector, analysts warn the deal raises questions about its long-term legitimacy, the possibility of future renegotiation, and the political risks for investors, as major oil companies remain cautious and no upfront funding is provided.

via Financial Times|

#alejandro-betancourt #oil-and-gas #trump

politics1 month ago•4 min saved

California moves to block federal offshore oil from reaching its shores

California lawmakers advanced AB 1448 to bar the use of existing oil and gas infrastructure in California coastal territory for any federal offshore leases issued after Jan. 1, 2026, effectively preventing transport to shore and signaling a broader battle over energy policy as Gov. Newsom weighs the measure; environmental groups back the move while the state’s building trades council warns it could hurt local oil supply amid refinery closures.

via Politico|

#california #energy-policy #environment

world1 month ago•4 min saved

US Eyes Major Venezuela Oil Stakes, Sparking Opposition Backlash

Reports from major outlets say Washington is negotiating a long-term stake or leases in Venezuela’s oilfields, potentially giving the U.S. control over a large share of the Orinoco Belt and Lake Maracaibo reserves; the opposition denounces the move as predatory and unconstitutional, warning it would extend U.S. influence in Latin America, while Maduro-aligned authorities and exiled leaders are divided and no presidential election date has been set.

via The Guardian|

#lake-maracaibo #oil-and-gas #orinoco-belt

world1 month ago•127 min saved

Bond-market jitters rattle global markets ahead of Fed cues

Global stocks slipped as persistent bond-market pressure weighed on sentiment, even as U.S. indices rose modestly on solid profits; oil prices fluctuated amid Iran tensions, with investors awaiting signals from the Federal Reserve at Jackson Hole.

via AP News|

#federal-reserve #financial-markets #oil-and-gas

economy1 month ago•5 min saved

Diesel Surge Sparks Inflation Fears Ahead of U.S. Midterms

Diesel prices climb to about $5.47 a gallon with crack spreads at a record high, lifting costs for trucks and farmers and reigniting inflation worries ahead of the midterm elections; global supply constraints from Middle East tensions and Russia, alongside strong U.S. refining activity, constrain availability and fuel policy discussions about exports and strategic reserves.

via Financial Times|

#diesel #economy #energy

politics2 months ago•6 min saved

Senate advances broad Russia sanctions package targeting Putin’s energy revenue

The Senate approved a bipartisan sanctions package named for the late Sen. Lindsey Graham that seeks to choke Moscow’s war funding by targeting oil and gas revenue, including up to 500% tariffs on Russian imports and up to 100% tariffs on the top five buyers of Russian energy (China, India and others). The measure also extends sanctions on Iran and imposes penalties on Putin and Russian officials, with some flexibility for when to apply certain provisions. Zelenskyy pressed lawmakers to act; after initial opposition from Rand Paul and Wyden, Senator Warnock secured a compromise limiting tariff authority, sending the bill to the House for consideration.

via Fox News|

#oil-and-gas #politics #putin

business2 months ago•3 min saved

BP Moves North Sea Drilling Assets Toward Sale to Simplify Operations

BP said it is putting its oil-and-gas business in the North Sea up for sale as part of a broader realignment to cut debt and streamline operations. The North Sea now accounts for a shrinking share of BP’s output (about 5% last year, ~117,000 barrels per day) with roughly 1,100 of the company’s ~14,000 employees in the unit. The move comes as UK politics weigh energy security and climate goals, and after peers like ConocoPhillips, Exxon Mobil, and Chevron exited the region. BP intends to find a buyer that can better position the assets within a larger company while BP focuses on its broader portfolio.

via The New York Times|

#bp #business #energy