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Tag Archives: oil

Syria says U.S. oil firm has deal with its enemy Kurdish-led rebels to “steal” its oil

Men. Oil pipes. Desert

PortandTerminal.com, August 2, 2020 U.S. Secretary of State Pompeo confirmed on Thursday that an American oil company now has a deal to modernize the oil industry in areas controlled by the Kurdish-led Syrian Democratic Forces BEIRUT – Syria’s foreign ministry said on Sunday that an American oil company had signed an agreement with Kurdish-led rebels who control northeastern oilfields in …

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U.S. energy guru Yergin sees no easy way out of oil price collapse

U.S. energy historian Daniel Yergin

REUTERS, March 15, 2020 “Low gasoline prices … don’t do much when schools are closed, people are cancelling all their trips, and people are working from home,” WASHINGTON (Reuters) – U.S. energy historian Daniel Yergin said it could be a long time before pressure is eased on sinking oil markets as the coronavirus causes public events and schools to close while …

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Hand sanitizer is now 212 times more valuable than oil

Infographic comparing price of hand sanitizer vs price of oil

PortandTerminal.com, March 13, 2020 We produced a “Sign of the Times” infographic that compares the price of these two essential commodities on an ounce-for-ounce basis. NEW YORK – Today the price of a barrel of Brent Crude oil is $36.95 (source: OilPrice.com). Why is it so cheap? After Saudi Arabia and Russia failed to agree upon oil production cuts to …

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Decaying old whaling ships in Newfoundland leaking oil

PortandTerminal.com, August 4, 2019 ST. JOHN’S, N.L.— There are three sunken old whaling ships from the 1920s in Conception Harbour, Newfoundland and two below the surface are leaking oil. What was once a tourist attraction for the small community of Conception Harbour is now an environmental threat. Conception Harbour Mayor Craig Williams is calling on the Canadian Coast Guard to …

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BREAKING: U.S. wants an international military coalition to patrol off of Iran and Yemen’s coasts

PortandTerminal.com, July 9, 2019 Reuters reported last night that the US Administration wants a military coalition to address the maritime threat that it feels Iran and Yemen pose to American and international security (oil) interests in the region. WASHINGTON (Reuters) – The United States hopes to enlist allies over the next two weeks or so in a military coalition to …

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What if no one wants your cargo? Tankers stuck with dirty Russian oil.

PortandTerminal.com, June 25, 2019 By Olga Yagova, Dmitry Zhdannikov and Florence Tan MOSCOW/LONDON, June 25 (Reuters) – In the opinion of Russian officials, the oil contamination crisis that disrupted flows from the world’s second-largest exporter of crude this spring is long over. But a closer look at a dozen tankers containing dirty Russian oil suggests that for the buyers, the debacle has a …

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Simplified: Canada’s complicated relationship with oil

PortandTerminal.com, June 20. 2019 Canada is the 4th largest producer of oil in the world. But it has two very big problems with its oil. Distance and type. On paper, Canada could become energy self-sufficient tomorrow. Every day it produces 4.2 million barrels of oil and only uses less than 2 million barrels. Canada has the world’s third-largest oil reserves. Venezuela is …

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Oil tankers attacked again in the Gulf of Oman

PortandTerminal.com, June 13, 2019 UPDATE (12:24 local time in Tehran): Iran’s state-run media agency IRNA says one of the two stricken oil tankers in the Gulf of Oman has sunk. Two oil tankers came under attack on Thursday in the Gulf of Oman, forcing their crews to abandon ship and setting at least one vessel ablaze, a month after four tankers …

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