“We are the guardian of this industry,” Saudi Energy Minister Prince Abdulaziz bin Salman said as he announced Saudi’s production cut on Tuesday, preserving the OPEC+ deal and sending oil prices to 10-month highs. He emphasized that the decision was made unilaterally by Crown Prince Mohammad bin Salman himself. SourceContinue Reading
Market conditions that might have triggered U.S. oil explorers to raise output and grab market share in recent years are, this time around, more an opportunity for them to pay down debt or boost dividends. SourceContinue Reading
The decision is a victory for the administration, which has been racing to issue oil leases in the refuge’s coastal plain before the Jan. 20 inauguration of President-elect Joe Biden. SourceContinue Reading
Since taking over for Hugo Chavez in 2013, Nicolas Maduro has resisted efforts to force him out, presiding over a precipitous deterioration of the oil-rich country. SourceContinue Reading
Exxon has come under pressure from activist investors in recent weeks for its poor returns and environmental record. The company said last month that it would set new, more ambitious targets to reduce emissions per barrel of crude. SourceContinue Reading
The “fair access” rule proposed by the Office of the Comptroller of the Currency on Nov. 20 would create undue burdens for lenders and could threaten their business models, banking industry groups said in comment letters to the agency. SourceContinue Reading
The deal, which emerged after two days of talks, sent crude surging to a 10-month high in New York. It appeared to give most members of the group what they wanted — the additional price support desired by Saudi Arabia and the production boost Russia had been pushing. SourceContinue Reading
Despite the claims of the sensationalist, fake-news media, the environment in America is getting better, not worse, writes Texas Railroad Commission Chairman Wayne Christian. SourceContinue Reading
A Rosneft spokesman said that the deal was “a logical extension” of its cooperation with Trafigura and would give the trading house “long-term access to high quality hydrocarbons to be produced with a low-carbon footprint that can be shipped both to the west and east.” SourceContinue Reading
