Iran’s state-owned National Iranian Oil Refining and Distribution Company (NIORDC) will soon begin to revamp Venezuela’s largest refining complex to restore its lost crude distillation capacity after years of socialist mismanagement, according to a report published by Reuters on Monday.
India has found a way to profit greatly from Russia’s sanctions situation, purchasing cheap Russian crude and using its tremendous refining capacity to sell America and Europe gasoline and diesel, Bloomberg News revealed on Sunday.
Global energy giant Shell has followed U.S.-based Exxon Mobil and Chevron to double its annual profits with a record high last year as oil and natural gas prices soared on the back of Russia’s invasion of Ukraine.
Energy Minister Irene Vélez of Colombia confirmed on Thursday that the South American nation will stop awarding new oil and gas exploration contracts, a decision that she described as “absolutely urgent.”
The United Arab Emirates, which will host this year’s COP28 United Nations climate conference, named the head of its state oil company as the president of that summit on Thursday – outraging environmental activists who oppose the existence of all fossil fuels as a threat to the planet.
The Supreme Court of the Philippines invalidated a 2005 agreement on Tuesday between the Philippines, Vietnam, and China that would have allowed a Chinese government corporation to explore for oil in Filipino waters, unconstitutionally exploiting the country’s national resources.
India’s External Affairs Minister S. Jaishankar, the nation’s top diplomat, excoriated European countries doing business with Russia in an interview on Monday, asking why pro-Ukraine nations on the continent continued to purchase Russian fossil fuels after Moscow escalated its war with the country in February.
As the world entered its second year of pandemic lockdowns, supply chain disruptions, and a new era of high fuel prices and inflation, the world’s most essential cargo transport professionals – truckers – took the lead in organizing anti-government protests in nearly every region of the planet.
Indian Prime Minister Narendra Modi held a phone conversation on Friday with his Russian counterpart Vladimir Putin to congratulate each other on skyrocketing bilateral trade and hint at future “security” cooperation, according to Russian media.
The cause of the leak is not yet known.
The government of Saudi Arabia confirmed on Tuesday that Chinese dictator Xi Jinping will travel to the country to attend two summits from December 7 to 9, Xi’s third trip abroad since the pandemic and his furthest away from home.
The Korean Confederation of Trade Unions (KCTU), which represents the interest of unionized workers in a variety of fields in South Korea, is planning a nationwide strike for Tuesday in solidarity with an ongoing truckers’ strike the ruling conservative political party has denounced as unpatriotic.
Rep. James Comer (R-TN), the top Republican on the Oversight Committee, announced Sunday in a letter the committee is investigating a New York Times report of a “secret deal to boost oil production” between the Biden administration and the Saudis to lower gas prices just before the midterm elections.
The Biden administration, through the Department of the Treasury’s Office of Foreign Assets Control (OFAC), issued a license to California-based Chevron on Saturday that allows the company to produce and export oil from Venezuela.
On Monday’s broadcast of the Fox Business Network’s “Kudlow,” Senate Republican Conference Chair Sen. John Barrasso (R-WY) reacted to President Joe Biden’s vow to shut down coal plants by stating that the Biden administration has done real economic damage while
Oil prices were down about two percent on Friday as China broadened its coronavirus lockdowns and travel restrictions, greatly reducing its import demand.
Saudi Foreign Minister Prince Faisal bin Farhan said at an event alongside Chinese Foreign Minister Wang Yi on Thursday that Communist Party dictator Xi Jinping was “expected” to make a visit to the Mideast nation soon, a sign of growing proximity between the two nations amid an increasingly bitter spat between the Saudi royals and the White House.
Secretary of State Antony Blinken appeared to walk back some of Washington’s condemnation of Saudi Arabia on the grounds that Riyadh was too friendly to Russia on Wednesday, crediting the Saudis for “positive developments” such as humanitarian aid for Ukraine.
Saudi Arabia Energy Minister Prince Abdulaziz bin Salman issued a warning, seemingly directly at far-left American President Joe Biden, that countries emptying their strategic oil reserves in an attempt to lower fuel prices could face “painful” consequences for their choice.
The left-wing newspaper New York Times claimed in a report on Tuesday, citing anonymous sources in American and Gulf Arab governments, that Saudi Crown Prince Mohammed bin Salman had promised leftist American President Joe Biden an increase in oil production but “duped” the White House.
A top spokesman for the Iran-backed Houthi terrorist movement in Yemen threatened attacks on international oil tankers this weekend after the legitimate government of the country revealed a Houthi attack on the al-Dhabba oil terminal.
Anonymous “people inside the Saudi government” told the Wall Street Journal in an article published Tuesday that Crown Prince Mohammed bin Salman has little respect for leftist American President Joe Biden and makes fun of the elderly leader’s seemingly poor mental faculties in private.
It’s only October, and in the mostly Democrat-run American Northeast, heating oil is already being rationed.
Iran’s Oil Minister Javad Owji announced on Sunday that Iran has finished repairing Venezuela’s El Palito refinery, allowing upwards of 100,000 barrels per day of Iranian oil to be refined overseas in the rogue South American socialist nation, according to a report published by the Islamic Republic News Agency on Monday.
Far-left Canadian Prime Minister Justin Trudeau told the audience at a climate change event on Tuesday that he believed the escalation of the Russian invasion of Ukraine was “accelerating” the “energy transition” away from fossil fuels and towards a zero-carbon electric grid.
South African President Cyril Ramaphosa said during a visit to Riyadh this weekend that Saudi Arabia’s Crown Prince Mohammed bin Salman is interested in joining the BRICS coalition, a trade and security organization led by Russia and China.
Saudi Defense Minister Prince Khalid bin Salman pronounced himself “astonished” by the barrage of attacks from the Biden White House last week accusing Riyadh of siding with Russia in the eight-year-old invasion of Ukraine, citing Ukrainian President Volodymyr Zelensky’s kind words towards the country as contradicting Washington.
The Ministry of Foreign Affairs of Saudi Arabia issued an outraged statement Thursday condemning the White House, without naming any official in particular, for claiming that Riyadh supported an OPEC+ decision to cut oil production by two million barrels a day because it had decided to side with Russia in the ongoing Ukraine war.
Saudi Crown Prince Mohammed bin Salman personally ordered a drop in oil production increases after leftist American President Joe Biden met with him in Riyadh this summer, the Wall Street Journal claimed in a report citing anonymous rumors on Tuesday.
The Biden administration is preparing to ease oil sanctions on the socialist regime of Venezuela that would allow California-based Chevron to resume oil production there, potentially opening a path for the return of Venezuelan oil exports into U.S. and European markets, according to a report published by the Wall Street Journal on Wednesday.
The Department of Labor will issue its report on September payrolls, unemployment, and wages on Friday. It may be the most hotly anticipated jobs report in recent memory.
“Do not taunt your neighbor with the blemish you yourself have,” the Talmud instructs us.
A stinging rebuke to the Biden administration.
Saudi Crown Prince Mohammed bin Salman, who enjoys close relations to Russia and has overseen a reported increase in purchases of Russian oil, was “crucial” in brokering an agreement to release ten fighters captured fighting for Ukraine, Saudi Arabia’s top diplomat told the BBC on Friday.
Brazilian President Jair Bolsonaro used his address at the United Nations General Assembly on Tuesday – as per tradition, the first by a head of state at the event – to celebrate the “full recovery” of his nation’s economy in the aftermath of the Chinese coronavirus pandemic.
The Secretary General of the Organization of Petroleum Exporting Countries (OPEC), Haitham Al Ghais, traveled to Venezuela on Tuesday to meet with socialist dictator Nicolás Maduro, touting the “key role” of Venezuelan oil in the international market.
IRAQ – For President Joe Biden, a renewed Middle East crisis lurks just as the Afghan withdrawal debacle enters the rearview mirror and record-high gas prices continue to retreat.
Scotland’s climate crazy local government has openly rejected proposed plans aimed at alleviating the ongoing energy crisis by drilling for more oil in the North Sea.
OPEC+, a grouping that includes Saudi Arabia and its Organization of Petroleum Exporting Countries plus Russia, slapped President Joe Biden’s pleas for increased oil production aside with a smaller-than-expected boost for August — and production cuts are reportedly on the table for September.
The tiny increase is being described as an insult to President Biden.