NEWSWORTHY
Once-eased U.S. economic sanctions against Iran back in effect
The first set of U.S. sanctions against Iran that had been eased under the landmark nuclear accord went back into effect early Tuesday under an executive order signed by President Donald Trump, targeting financial transactions that involve U.S. dollars, Iran's automotive sector, the purchase ...
Japan's utilities crank up oil-fired power in face of heat wave
To cool down, electricity suppliers are firing up fossil fuels.
In major milestone, Inpex begins production at offshore Australian LNG project
Tokyo-based Inpex Corp. announces that its Ichthys liquefied natural gas project has gotten underway off the northwest coast of Australia.
Too many government are supporting the expansion of fossil fuel production.
Iran leader threatens to disrupt Persian Gulf oil exports over U.S. sanctions
Iranian Supreme Leader Ayatollah Ali Khamenei warned Saturday that Iran will disrupt Persian Gulf oil exports if it is prevented from exporting its own oil by new U.S. sanctions, according to his official website. Khamenei told Foreign Ministry officials that he supports President Hassan Rouhani's ...
Japanese drivers face higher pump prices if Tokyo agrees to halt oil imports from Iran
The U.S. has been calling for a halt to oil imports from Iran by Nov. 4. Japan is seeking a waiver, but remains uncertain whether it will be granted.
Crude price falls as U.S. hints possible sanction exemptions to those reducing Iran oil imports
Countries and businesses that continue to import Iranian oil could avoid penalties by making "significant reductions" as Washington re-imposes sanctions on Tehran later this year, according to top U.S. officials. "We want people to reduce oil purchases to zero, but in certain cases if people ...
Venezuelan oil production crashed to a new 30-year low of 1.5 million barrels a day in June, the Organization of the Petroleum Exporting Countries (OPEC) said on Wednesday. The South American nation earns 96 percent of its revenue through oil sales but a lack of ...
Japanese refiner Idemitsu wins family backing for Showa Shell merger
The two oil refiners said Tuesday they have agreed to merge April 1, after Idemitsu’s founding family dropped its long-standing opposition to the plan.
Trump's mixed oil message won't fix supply fears amid Iran squeeze: traders
U.S. President Donald Trump's weekend of oil diplomacy doesn't change the underlying dynamic of a crude market that's swiftly seeing demand threaten to overtake supplies, analysts said on Sunday. Trump's tweet suggesting that Saudi Arabia had agreed to pump an additional 2 million barrels a ...
Saudi Arabia tells Trump it is ready to boost oil production if needed
The leader of Saudi Arabia promised President Donald Trump that he can raise oil production if needed and the country has 2 million barrels per day of spare capacity, the White House said on Saturday, rowing back on an earlier Trump tweet that appeared ...
Iran's leaders seek ways to defend economy from U.S. sanctions
Iran is studying ways to keep exporting oil and other measures to counter U.S. economic sanctions, state news agency IRNA reported on Saturday. Since May, when U.S. President Donald Trump pulled out of the nuclear deal which lifted most sanctions in 2015, the rial currency ...
