U.S. sanctions two entities and vessels for allegedly violating Russian oil price caps
The U.S. government Thursday sanctioned two entities and identified two vessels as blocked property for...
The U.S. government Thursday sanctioned two entities and identified two vessels as blocked property for alleged violation of Russian crude oil price caps. Both the vessels named in the sanctions used U.S.-based service providerswhile transporting Russian-origin oil, according to Treasury.
The Treasury Department announced the penalties against Lumber Marine SA and Ice Pearl Navigation Corp for carrying crude oil priced above the $60 per barrel cap that was imposed in December 2022 by a coalition of nations including the United States, the EU, G7 nations and Australia. READ MORE
Key measures of consumer prices cooled in September
American consumers experienced more moderate...
American consumers experienced more moderate price increases across several key measures in September as costs climbed only gradually across a range of goods and services, the latest evidence that inflation is continuing to fade toward the Federal Reserve’s goal.
The Consumer Price Index climbed 3.7 percent from a year earlier, a report released Thursday showed. That matched the August reading, and it was slightly higher than the 3.6 percent that economists had predicted.
EIA: US crude oil exports soared in first half of 2023
The US exported an average 3.99 million barrels per day of crude oil in the first six months of 2023,...
The US exported an average 3.99 million barrels per day of crude oil in the first six months of 2023, marking a 19% increase from the same period last year, as well as the highest first-half level since 2015, according to the Energy Information Administration. Europe and Asia were the top destinations for US oil, collectively accounting for 3.43 million bpd of the exported volumes.
Offshore investment slump sparks energy security worries
An E&E News analysis shows a 30% decrease in permits issued for new offshore oil and gas wells during...
An E&E News analysis shows a 30% decrease in permits issued for new offshore oil and gas wells during the first two years of the Biden administration compared to the equivalent period under the Trump administration. Unfavorable policies are deterring companies from making long-term, capital-intensive investments in the US Gulf of Mexico, said American Petroleum Institute Vice President of Upstream Policy Holly Hopkins, calling this "a concerning trend for the future of American energy security."
Canada's $22.6 billion Trans Mountain oil pipeline expansion will start filling its lines with approximately...
Canada's $22.6 billion Trans Mountain oil pipeline expansion will start filling its lines with approximately 4.5 million barrels of oil in early 2024, a process expected to conclude within six to seven weeks. Despite previous concerns about additional delays, a spokesperson has confirmed that the project remains on track for commercial operations by the end of the first quarter of 2024.
