Latest Oil Gas Headlines
All the headlines from our Oil Gas Topic Page, ordered by recency.
EU Gives Final Nod to Sanctions Targeting Russia’s Oil, Insurance, Sberbank
Jun 3 2022 // BRUSSELS – The European Union on Thursday gave its final approval to new sanctions on Russian oil and top bank Sberbank, after much wrangling with Hungary, as punishment for Russian President Vladimir Putin’s Feb....
European Union Seeks to Coordinate Russian Oil Insurance Ban With G-7 Members
Jun 2 2022 // The European Union is working to coordinate a ban on providing the insurance services needed to ship Russian oil anywhere in the world with some Group of Seven members, according to people familiar with the matter, in a...
EU Poised to Approve Sanctions Against Russia, Covering Oil, Banks and Insurance
Jun 1 2022 // European Union ambassadors are set to approve a sixth package of sanctions over Moscow’s invasion of Ukraine, banning most Russian oil imports by year-end and restricting Russia’s ability to ship crude to...
Iran’s Seizure of 2 Greek Oil Tankers Adds Risk to Key Shipping Route
Jun 1 2022 // Iran’s seizure of two Greek oil tankers in the Persian Gulf raises the risk of further interruptions to shipments from a region that’s a vital source of global energy supplies. On Friday, the Islamic...
EU Leaders Agree to Pursue Ban on Most Russia Oil; Insurance Prohibition Delayed
May 31 2022 // European Union leaders agreed to pursue a partial ban on Russian oil, paving the way for a sixth package of sanctions to punish Russia and its president, Vladimir Putin, for the invasion of Ukraine. The sanctions would...
Abandoned Louisiana Oil Wells Slated to Receive Clean Up in Infrastructure Bill
May 27 2022 // About $33 million of the $1 trillion bipartisan infrastructure plan recently signed into law by President Joe Biden will go toward cleaning up 277 of an estimated 15,000 abandoned oil and gas wells on federal land, the...
U.S. Seizes Iranian Oil Cargo From Russian-Operated Ship Near Greece: Sources
May 27 2022 // The United States has confiscated Iranian oil held on a Russian-operated ship near Greece and will send the cargo to the United States aboard another vessel, three sources familiar with the matter said. It was unclear...
Risky Ship-to-Ship Transfers Keep Russian Oil Moving to China
May 26 2022 // A logistically risky and costly transfer of crude between tankers at sea highlights the steps at least one Chinese buyer is willing to take to ensure the smooth flow of oil from eastern Russia to Asia. Buyers are using...
Oil Firms Strike Out Again in Fight Against Massachusetts, Rhode Island Climate Suits
May 25 2022 // Exxon Mobil Corp. has lost another round in its fight to stop states from pursuing claims that it has deceived investors and the public regarding its products and climate change. The Massachusetts Supreme Judicial Court...
Insurance (or Lack of It) Is Russian Oil’s Achilles’ Heel
May 25 2022 // Russia has so far deflected much of the impact of sanctions on its oil trade but the insurance industry threatens to throw a spanner in the works unless Moscow and its customers can plug a gap left by Western...
Charges of Violence, Bullying Follow Mass Employee Exodus at Calgary Oil Firm
May 20 2022 // When two-thirds of the brokers at a prominent Calgary oil firm quit without explanation around the Easter weekend, the exodus chilled Canada’s oil market. Now, a lawsuit filed against the firm, NE2 Group, purports to...
BP Oil Spill Settlement Goes Towards Louisiana Shoreline Construction
May 17 2022 // Louisiana has begun construction of a $67 million project to create miles (kilometers) of oyster reefs to protect the shoreline in a New Orleans suburb. Money for the Biloxi Marsh Living Shoreline comes from an $8.8...
$230M Settlement Reached in 2015 California Oil Spill
May 16 2022 // The owner of an oil pipeline that spewed thousands of barrels of crude oil onto Southern California beaches in 2015 has agreed to pay $230 million to settle a class-action lawsuit brought by fishermen and property owners,...
OSHA Fines Oil Company $454K in North Dakota Explosion
May 10 2022 // An investigation by the U.S. Department of Labor Occupational Safety and Health Administration determined that an oil company’s failure to take adequate safety precautions contributed to a drilling site explosion...
EU to Weaken Russia Oil Sanctions, but Keeps Plan to Prohibit Insurance of Shipments
May 9 2022 // The European Union is set to soften its sanctions package on Russian oil exports after a weekend of wrangling, though it aims to keep a key shipping provision that will hinder Moscow’s ability to export its...
April Blizzards Drive Down North Dakota Oil Production
May 4 2022 // State officials officials say a pair of blizzards that smacked North Dakota in April caused a dramatic reduction in oil production. The Bismarck Tribune reported that State Mineral Resources Director Lynn Helms provided...
EU Seeks to Target Russia’s Global Oil Exports With Insurance, Services Ban
May 4 2022 // The European Union is seeking to go beyond an import ban on Russian crude, targeting insurers in a move that could dramatically impair Moscow’s ability to ship its oil anywhere in the world. The bloc is proposing to...
Allianz Plans to Take Harder Line on Insuring Fossil Fuel Industry to Meet Climate Goals
May 3 2022 // Europe’s biggest insurer Allianz plans to take a harder line on insuring the oil and gas industry as part of efforts to align its underwriting policies with the world’s climate goal, the company said on...
India’s ONGC Struggles to Ship Russian Oil to Asia as Sanctions Bite: Sources
Apr 28 2022 // India’s Oil and Natural Gas Corp. (ONGC) is struggling to find a vessel to ship 700,000 barrels of crude from Russia’s Far East, in a growing sign that complex trades involving one of Moscow’s biggest...
U.S. Lawmakers Push Insurers to Stop Underwriting Fossil Fuels
Apr 27 2022 // A group of Democratic lawmakers, mostly members of the Congressional Progressive Caucus, have asked some of the nation’s biggest insurance companies to stop underwriting new fossil fuel projects that contribute to...
