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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 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....
...“He really led Shell’s work during his tenure as CEO on transitioning it across oil and gas, renewables, sustainable aviation and transportation.”...
...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 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....
...“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....
...Much of his firepower derives from a humble source: a small oil refining and nitrogen fertiliser company in the US heartland....
...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....
...The Houthis started a campaign of attacks on commercial ships in the Red Sea and the Gulf of Aden in November, following the outbreak of the war between Israel and Hamas....
...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....
...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....
...the Gulf of Aden and the Red Sea....
...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 between the two worlds had not been this wide in at least a decade, said Khoda. By her calculations, direct lenders were charging roughly 2.5 percentage points more than banks....
...“[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 decision proved prescient after Russia’s 2022 invasion of Ukraine drove a surge in oil and gas prices....
...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....
...Upstream-friendly mutterings by both BP and Shell this year somewhat mask the strategic gulf across the Atlantic....
...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....
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