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...The Biden administration defended the LNG pause this week in a letter to the American Petroleum Institute, a Big Oil lobby group that has campaigned against it, saying the approvals process needed updating...
...The plans mark a bet by the Gulf state that strong demand for the fuel will continue, with Asian economies switching from coal as part of efforts to cut carbon dioxide emissions....
...Almost all of that is tanked to China from the Gulf through the Strait of Hormuz....
...However, he said that Pemex would “keep working with private companies,” adding it would soon announce a private partner for a major deepwater gasfield in the Gulf of Mexico called Lakach....
...“The market had been complacent about the Gaza conflict expanding to include Iran and, therefore, a material risk to Arabian Gulf oil and [liquefied natural gas] production and exports,” he said....
...Around the Gulf war of 1990, oil doubled while the S&P 500 fell almost 20 per cent. Over time, the price moves have become less severe....
...The waters of the Strait of Hormuz, near where the MSC Aries was seized, are the world’s most important route for oil tankers, carrying oil from Saudi Arabia and other Gulf producers to the wider world....
...Iranian forces seized an oil tanker off the coast of Oman as the threat to shipping in the Middle East spilled into one of the world’s most important oil export routes....
...The oil expansion plan was expected to cost about $40bn between 2024 and 2028....
...the Gulf of Aden and the Red Sea....
...Divergence is sharp between more fragile, resource-poor Middle East nations and wealthy Gulf oil exporters, which are more insulated from the shocks than their neighbours....
...Federal waters of the Gulf account for about nearly 2mn barrels a day of crude oil production, or about 15 per cent of total US production that has recently been hitting records....
...Saudi Arabia’s decision “appears to be a huge rethink of strategy and will have wide ramifications to Aramco capital spending, the Gulf supply chain and of course Opec+ oil policy”, Syme said....
...Scientists have predicted that climate change will make the lower Gulf region hotter, more humid and more prone to flooding....
...“[The Gulf states] trade openly with the US and Chinese....
...Oil prices dropped sharply on Monday as Saudi Arabia’s decision to cut its official selling price for oil exports in February overshadowed heightened tensions in the Middle East....
...The ECB, for its part, has said that it lacks data on asset-backed securities and other structured products issued by financial corporations that are eligible as collateral....
...Protesters outside the Houston event staged a mock “funeral march” as they blasted executives for pollution in Gulf communities and the industry’s contribution to climate change....
...Some of the world’s biggest investors including Norway’s oil fund and a Canadian pension giant have failed in a bid to push Samsung’s de facto holding company to increase dividends and share buybacks....
...Upstream-friendly mutterings by both BP and Shell this year somewhat mask the strategic gulf across the Atlantic....
...Worse, according to the US Energy Information Administration, a fifth of world oil supply passed through the Strait of Hormuz, at the bottom of the Gulf, in 2018....
...Saudi Arabia is mandating that leading Chinese technology companies invest in the Gulf kingdom in return for huge deals, as it leverages its petrodollar wealth to boost its domestic tech industry....
...The latest Houthi attack — on a vessel working for commodities trader Trafigura in the Gulf of Aden — has pushed up fuel tanker rates and diesel prices, with shipping executives and oil market analysts forecasting...
...“This was the mother of all climate cases against corporations,” said Klaas Hendrik Eller, an assistant professor at the University of Amsterdam’s centre for transformative private law....
...The investment will strengthen Abu Dhabi’s position as an AI hub, and is a sign of the oil-rich emirate’s ambitions in the technology....
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