fetching latest news

News tagged in:  

President Trump NEWS

Oklahoma wants Trump to declare coronavirus as 'act of God'
April 27, 2020

Oklahoma wants Trump to declare coronavirus as 'act of God'

With the conditions becoming difficult for the oil and gas companies, Oklahoma Governor has asked the US President to declare the coronavirus pandemic an "act of God". This would make it easy for the companies to stop operations without worrying about the cancellation of land leases for stopping production. "Over-production of oil continues to threaten the economy", said the Governor.

Trump applauds the efforts of OPEC and Russia
April 13, 2020

Trump applauds the efforts of OPEC and Russia

US President Donald Trump has appreciated the efforts of OPEC and its allies to slash the output. "The big Oil Deal with OPEC Plus is done. This will save hundreds of thousands of energy jobs in the United States", tweeted the President. According to Federal Reserve Bank of Kansas City, if the prices remain $30 a barrel, 40% of US oil and gas producers might face insolvency within the year.

Trump not in favour of royalty cuts for oil and gas companies
April 9, 2020
Source: The Hill

Trump not in favour of royalty cuts for oil and gas companies

Donald Trump has opposed widespread royalty cuts given to the oil and gas companies that drill on public lands and waters. According to the sources, the Republican lawmakers have written to Trump urging to lessen the royalty. “Such requests may be granted in cases where an operator is prevented from operating or producing on a lease for reasons beyond or outside their control”, said Interior Department spokesperson.

Crude oil jumps over President Trump's potential intervention in price war
March 20, 2020
Source: Reuters

Crude oil jumps over President Trump's potential intervention in price war

Oil prices jumped in the international market on Friday, pushed up by President Trump's potential intervention in the price war between Saudi Arabia and Russia. Brent crude rose 0.1%, to $28.44 per barrel. US WTI crude climbed 1.7% at $26.34 a barrel. Sources privy to conversations in White House said that the Trump administration is considering a diplomatic push to resolve the ongoing price war between Saudi Arabia and Russia.

Trump EPA might scrap methane limits at oil and gas operations
Aug. 30, 2019

Trump EPA might scrap methane limits at oil and gas operations

The previously set limits on oil and gas industry for methane emission might stand null. On Thursday, Trump administration advocated on rescinding Obama-era limits. EPA has informed that easing a 2016 regulation might save energy companies up to $123 million through 2025. EPA Administrator said that the proposal "removes unnecessary and duplicative regulatory burdens from the oil and gas industry".

US-China trade war concerns weigh heavy on oil prices
May 9, 2019
Source: Reuters

US-China trade war concerns weigh heavy on oil prices

Elevating trade tensions between the US and China weighed heavy on the oil prices in the international market on Thursday, counteracting the fall in US crude stocks. Benchmark Brent crude dropped 0.9%, to $69.72 per barrel. US WTI crude fell 1%, to $61.52 per barrel. The US will enforce higher tariffs on Chinese goods from Friday, during the two-day visit of Chinese Vice Premier Liu He to Washington from Thursday.

Oil prices remain mixed on Tuesday
May 7, 2019
Source: Reuters

Oil prices remain mixed on Tuesday

Oil prices held steady in the international market on Tuesday, torn by US sanctions and a renewed US-China trade war. Brent crude oil futures dropped to $71.16 per barrel. U.S. West Texas Intermediate (WTI) crude futures rose to $62.29 per barrel. Tightening sanctions on Iran and Venezuela has left oil exports from the countries in turmoil. Yesterday, the US confirmed about boosting its military presence in the Middle East.

Oil prices plummet amidst renewed tariff threat on Chinese goods
May 6, 2019
Source: Reuters

Oil prices plummet amidst renewed tariff threat on Chinese goods

Oil prices experienced a sharp decline in the international market on Monday, forced down by the threat of a renewed US-China trade war. Brent crude oil futures plunged 2.1%, and were traded at $69.34 per barrel. U.S. West Texas Intermediate (WTI) crude futures dipped 2.4%, and were priced at $60.44 per barrel. US President Donald Trump yesterday tweeted that higher tariffs will be imposed on Chinese goods this week.

Trump demands increase in OPEC output, oil prices fall
April 29, 2019
Source: Reuters

Trump demands increase in OPEC output, oil prices fall

Oil prices slipped on Monday after Trump asked OPEC to increase its output. Trump demanded the output surge to moderate the effects of US sanctions against Iran. Brent price went down 0.5% to $71.80 per barrel. WTI decreased 0.6%, to $62.91 per barrel. Trump commented, "Gasoline prices are coming down. I called up OPEC, I said you’ve got to bring them down. You’ve got to bring them down".

Iran warns to close Strat of Homuz
April 23, 2019
Source: World Oil

Iran warns to close Strat of Homuz

Iran has warned to close Strat of Homuz, a narrow waterway carrying a fifth of the world’s traded oil, in response to end of sanctions waiver. A news agency cited head of the Revolutionary Guard Corps navy force saying “If we are prevented from using it, we will close it,”. Iran’s warning to close the waterway isn’t new, and its officials have threatened to do so in the past too.

Oil prices gain ground amidst losses
Feb. 6, 2019
Source: Reuters

Oil prices gain ground amidst losses

Oil prices recovered from last session losses and gained grounds on Wednesday. Benchmark Brent crude oil futures edged to $62.05 per barrel. US WTI crude futures rose to $53.74 per barrel. Traders are now waiting for President Trump to address the US State of the Union today, expecting a showdown on US-China deal.

Chevron’s Utah plant might have received RFS waiver
Nov. 21, 2018
Source: Reuters

Chevron’s Utah plant might have received RFS waiver

Sources have revealed that the US Environmental Protection Agency approved a 2017 hardship waiver from US biofuel laws to Chevron Corp’s Utah refinery earlier this year. The Renewable Fuel Standard (RFS) necessitates refiners to blend biofuels into their fuel pool or instead buy compliance credits from competitors that do. Corn-belt farmers are exasperated because of the waivers which hurt the demand for ethanol and other biofuels.

Oil prices slump over expected rise in crude stock
Nov. 13, 2018
Source: S&P Platts

Oil prices slump over expected rise in crude stock

Crude oil prices dropped in the international market today, amid expected rise in US stocks. Official data is due for release on Wednesday. President Trump’s comments added further to the slump. Brent crude futures were down by 1% from Monday, trading at $69.42 per barrel. NYMEX December light sweet crude contract lowered 1.37%, to $59.11/b.

Trump criticizes Saudi’s plan
Nov. 13, 2018
Source: World Oil

Trump criticizes Saudi’s plan

Saudi Arabia has to deal with Trump’s criticism after announcing its plan to lower oil production on Monday. In a tweet, President Trump said “Hopefully, Saudi Arabia and OPEC will not be cutting oil production. Oil prices should be much lower based on supply!” Energy Minister of Saudi Arabia informed that OPEC and its allies will now reverse half the increase in oil output that was planned initially this year.

New wave of US sanctions hit Iran
Nov. 5, 2018
Source: BBC

New wave of US sanctions hit Iran

A new wave of US sanctions hit Iran’s core parts of the economy yesterday. The US is said to have imposed its "toughest ever" sanctions against the Persian country. The US administration re-imposed sanctions this year after President Trump pulled out of the accord signed in 2015. The Nov 4 wave will target more than 700 individuals, entities, vessels and aircraft.

First wave of US sanctions hits Iran
Aug. 7, 2018
Source: Financial Times

First wave of US sanctions hits Iran

The Trump administration slammed a series of sanctions on Iran yesterday, in the light of US pulling out of the 2015 Iran nuclear deal. Tough economic sanctions were re-imposed on the Hassan Rouhani-led Islamic regime. The sanctions, which take effect today, forbid usage of USD by Iran in any kind of transactions. Iran will no longer have access to buy US and European aircraft.

API disappointed by tariff exclusion ruling
July 17, 2018
Source: World Oil

API disappointed by tariff exclusion ruling

The American Petroleum Institute (API) has shown disappointment from US administration denial to exclude imported steel to be used in certain parts of oil and gas industry, from Section 232 tariffs. API VP believes that the process which decided whether to grant exclusion or not lacks transparency. The association has said that the decision is misguided and will impact American energy production and jobs.

OPEC won’t overdo their bit
July 12, 2018
Source: Oil Price

OPEC won’t overdo their bit

OPEC President has reverted on Trump’s tweet stating that OPEC is doing their best to increase oil supply, but they won’t overdo it. Reportedly, UAE increased its production by almost half a million barrel and Russia by a million barrels daily in their bid to reduce prices. Saudi Arabia is finding it difficult to bring 2 million bpd supply back online, lost due to US sanctions on Iran.

Please Login to Save News for Later