Energy & Environment Correspondent
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Jun 6, 2013

U.S. lawmakers in new drive to slash Iran’s oil sales to a trickle

NEW YORK/WASHINGTON, June 6 (Reuters) – U.S. lawmakers are
embarking this summer on a campaign to deal a deeper blow to
Iran’s diminishing oil exports, and while they are still working
out the details, analysts say the ultimate goal could be a near
total cut-off.

Such an extreme goal would risk antagonizing China and
India, the biggest remaining buyers of Iranian crude, and could
push oil prices higher in a hit to the global economy.

Jun 4, 2013

U.S. expected to extend waivers on Iran sanctions to India, China

WASHINGTON (Reuters) – U.S. Secretary of State John Kerry is likely to renew waivers on Iran oil sanctions for India, China and several other countries as soon as Wednesday, in exchange for their reducing purchases of crude from the Islamic Republic, two government sources said.

The 180-day exceptions to the oil sanctions would be the third round since President Barack Obama signed the bill in late 2011.

May 31, 2013

U.S. imposes sanctions on Iran’s petrochemical industry

WASHINGTON, May 31 (Reuters) – The United States blacklisted
on Friday eight companies in Iran’s petrochemical industry,
sending a warning to the Islamic Republic’s global customers as
Washington strives to cut off funds to the country’s nuclear
program.

Petrochemical companies owned or controlled by the Iranian
government that are on the Treasury Department list include
Bandar Imam Petrochemical Co, Bou Ali Sina Petrochemical Co and
Mobin Petrochemical Co.

May 17, 2013

Oil price probe widens, senator wants Justice Department help

LONDON/WASHINGTON (Reuters) – A European probe into possible oil price manipulation expanded with the investigation of a small niche trading house in the Netherlands and a key U.S. senator on Friday called for the Justice Department to join the investigation.

Dutch trading house Argos Energies, a mid-sized trading company that deals in physical oil products and owns storage facilities, was visited by inspectors from the European Commission on Tuesday, a source familiar with the investigation said on Friday.

May 17, 2013

Oil price probe widens, US senator wants Justice Dept help

LONDON/WASHINGTON, May 17 (Reuters) – A European probe into
possible oil price manipulation expanded with the investigation
of a small niche trading house in the Netherlands and a key U.S.
senator on Friday called for the Justice Department to join the
investigation.

Dutch trading house Argos Energies, a mid-sized trading
company that deals in physical oil products and owns storage
facilities, was visited by inspectors from the European
Commission on Tuesday, a source familiar with the investigation
said on Friday.

May 11, 2013

Exclusive: U.S. decision on Keystone XL pipeline seen dragging past summer

WASHINGTON (Reuters) – The Obama administration is unlikely to make a decision on the Canada-to-Nebraska Keystone XL pipeline until late this year as it painstakingly weighs the project’s impact on the environment and on energy security, a U.S. official and analysts said on Friday.

The decision may not be made until November, December or even early 2014, said a U.S. official, as President Barack Obama will not rush the process, which still has a number of stages to work through. One of those stages has not even begun yet and will run for months.

May 9, 2013

U.S. blacklists firms for evading Iran oil sale sanctions

WASHINGTON (Reuters) – The United States has blacklisted two companies it says helped Iran evade sanctions on oil sales and slapped penalties on four Tehran-based firms it says helped the Islamic Republic enrich uranium, the latest efforts to pressure Iran’s nuclear program.

“As long as Iran tries to evade our sanctions, we will continue to expose their deceptive maneuvers,” David Cohen, the undersecretary for terrorism and financial intelligence at the Treasury Department said in a news release.

May 8, 2013

Senators seek to block Iran from billion-dollar reserves

WASHINGTON (Reuters) – Legislation introduced by a bipartisan group of U.S. senators on Wednesday would block Iran’s access to billions of dollars worth of foreign currency reserves in the latest congressional effort to slow development of the Islamic Republic’s disputed nuclear program.

Lawmakers in Washington say the government in Tehran taps the reserves held in banks around the world, mostly in euros, to get around U.S. and EU sanctions on oil sales that have damaged Iran’s economy.

Apr 30, 2013

Saudi embraces US oil boom even as kingdom’s output steadies

WASHINGTON, April 30 (Reuters) – The oil minister of Saudi
Arabia, the world’s top crude oil exporter, welcomed the U.S.
energy renaissance on Tuesday but added that the boom in new
global output may hold the kingdom’s production at current
levels until the next decade.

“This is good news,” Ali al-Naimi said about the U.S. oil
and gas production boom at the Center for Strategic and
International Studies in Washington, in a speech billed as his
first on energy in the United States in four years.

Apr 30, 2013

Saudi-U.S. relations to withstand North American oil boom

WASHINGTON (Reuters) – Experts say Asia and Iran are the keys to maintaining a strong – but evolving – U.S.-Saudi Arabia energy relationship.

Saudi Oil Minister Ali al-Naimi is expected to share his optimistic view on the future of Asian oil demand on Tuesday when he gives a major energy speech, billed as the first in the United States in four years.

    • About Timothy

      "I cover U.S. energy and environment policy and climate change. Moved to DC in late 2009 after a decade in New York. Author of "Diminishing Resources:Oil," which is one in a series of books for young adults."
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