Conflict affects Iranian and Israeli energy sites
The military strikes between Iran & Israel have raised concerns about possible damage to oil and gas infrastructure and fields in the region. Here are some details on these sites, and how they have affected them so far. Israel attacked an installation in the South Pars offshore field where Iran had partially suspended production on June 14.
Overview of Iran's major gas fields and oil infrastructure
Israel attacked an installation in Iran's South Pars Gas Field on Saturday. This was the first attack against Iran's oil-and-gas sector, as part of a long-term operation that the Israeli government warned would take place to stop Tehran from developing an atomic bomb. Iran has temporarily suspended gas production at the South Pars Field…
Overview of Iran's major gas fields and oil infrastructure
Israel attacked an installation in Iran's South Pars Gas Field on Saturday. This was the first attack against Iran's oil-and-gas sector, as part of a long-term operation that the Israeli government warned would take place to stop Tehran from developing an atomic bomb. Iran has temporarily suspended gas production at the South Pars Field…
Most G7 Members Ready to Lower Russian Oil Price Cap Despite US Engagement
Most countries in the Group of Seven nations are prepared to go it alone and lower the G7 price cap on Russian oil even if U.S. President Donald Trump decides to opt out, four sources familiar with the matter said.G7 country leaders are due to meet on June 15-17 in Canada where they will discuss the price cap first agreed in late 2022.
NextDecade, JERA Sign 20-Year LNG Supply Deal
U.S. liquefied natural gas producer NextDecade said on Thursday it had signed a 20-year deal to supply Japan's biggest power generator JERA with 2 million tonnes per annum of LNG from its Rio Grande project's fifth liquefaction facility.Shares of NextDecade were up 5.5% at $8.11 in early trading.The United States is the world's largest exporter of LNG…
Chevron and European firms lobby for the retention of stakes in Venezuelan oil joint ventures
Three sources familiar with the situation said that the U.S. oil company Chevron and several European firms are currently in discussions with the Trump Administration to get permission to retain their stakes in joint-ventures with Venezuela's PDVSA. Washington revoked in March licenses and…
Venezuela's oil exports drop by 20% after Chevron cancels cargo
Ship tracking data and documents show that Venezuelan oil exports dropped by almost 20% in April to 700,000 barrels a day (bpd), the lowest level for nine months. This was due to cargo cancellations from U.S. producer Chevron, which forced ships to return to port and left some empty ports.
US sanctions on Serbia's NIS Oil Firm are lifted
The United States has granted a third waiver of sanctions to the Serbian oil company Naftna Industrija Srbije. It is owned by Russia's Gazprom and Gazprom. NIS has a single refinery with a capacity of 4.8 millions tons per year in Serbia. The crude oil supply is sufficient to cover the majority of Balkan countries' needs.
Maurel & Prom, a French oil company, has seen its sales growth fall due to a drop in revenue from the main fields
Maurel & Prom, a French oil company, reported a sharply reduced first-quarter growth rate on Thursday. Revenues declined in its main oil fields of Gabon, Angola, and Tanzania. The revenue for the quarter ending March 31 dropped by 70% compared to a year ago, falling from $64 million. The…
US lawmakers block IMF Central Africa Support over Oil Fund Dispute
U.S. legislators have introduced legislation to block International Monetary Fund assistance for certain Central African countries in order to protect billions of dollars oil companies are required by law set aside for environmental restoration. The bill highlights the standoff between foreign…
US lawmakers block IMF Central Africa Support over Oil Fund Dispute
U.S. legislators have introduced legislation to block the International Monetary Fund's (IMF) assistance for certain Central African countries. This is in order to protect billions of dollars which oil companies are required by law set aside for environmental restoration. The bill highlights the standoff between foreign investment on one hand…
The US has revoked the specific license of French oil company M&P for its activities in Venezuela
Maurel et Prom, a French oil company, announced on Monday that the Office of Foreign Assets Control of the U.S. Treasury Department has revoked its specific licence to operate in Venezuela. Last week, U.S. president Donald Trump issued an order declaring any country that purchases oil or…
Vucic: Serbia will lose access to oil imports when the deadline for sanctions looms.
Serbia may lose access to essential oil imports as of Friday, after discussions to stop the imposition by the United States of sanctions on its sole oil refinery failed. President Aleksandar Vucic stated this in an interview published. The waiver of sanctions expires at midnight. If it is not extended…
Trump: Japan and South Korea are interested in partnering with the US on Alaska pipeline
Donald Trump, the U.S. In an address to Congress, Trump stated that this pipeline would be the largest of its kind in the world. He said that Japan, South Korea, and other nations wanted to be his partners, with trillions of dollars in investments each. On Tuesday, Ahn Duk Geun, South Korea’s…
South Korea and the US form a working group to discuss Alaska LNG project tariffs
Ahn Duk Geun, South Korea’s Minister of Industry, announced on Tuesday that the United States and South Korea have agreed to form a group at a working level to discuss issues such as a pipeline project for gas in Alaska, energy and shipbuilding, tariffs, and non-tariff obstacles. Ahn, a reporter in Sejong…
US oil licenses and authorizations for Venezuela
Since the United States first imposed sanctions against Venezuela's energy industry in 2019, it has granted licenses to certain oil companies, allowing them to export Venezuela's oil into specific destinations. Washington imposed sanctions after international observers reported irregularities…
Trinidad seeks extension of Shell's gas project for Venezuela
Sources close to the preparations have said that Trinidad and Tobago intends to ask U.S. president Donald Trump's government to extend a licence for Shell and Trinidad’s National Gas Company in order to develop a major gas project in Venezuela. Early 2023, the U.S. license for Venezuela was granted as an exception to Washington's sanction against Venezuela.
Official: Trump says mineral deal will provide Kyiv with a'security shield after the war'
U.S. Treasury secretary Scott Bessent stated on Wednesday that an minerals deal between Kyiv-Washington would provide Ukraine with a "security shield" after the war. President Volodmyr Zelenskiy also said he hopes to reach a final agreement this week. Bessent is the first cabinet level official from Donald Trump's delegation to visit Kyiv.
Dollar jumps after Trump's tariff plans. Shares are jittery.
The global markets welcomed Donald Trump's new presidency on Tuesday with apprehension, largely due to the headlines about his plans for trade and tariffs. The U.S. market was closed on Monday for a holiday, so the reactions to Trump’s return to the White House began to be felt in Asian trading on Tuesday.
SLB's Russia business aligns itself with US sanctions as revenues drop
SLB, an oilfield services provider, said on Friday that its current business in Russia aligns with the U.S. sanctioned this month but revenue is declining in Russia. After the 2022 invasion of Ukraine, one of only a few Western companies that will remain in Russia is the world's largest oilfield services company.
