Tag: Oil (Petroleum) and Gasoline

How an Oil Price Surge Could Hurt the U.S. Economy

For months, American consumers have kept the economy humming. While businesses pulled back, shoppers continued to spend. But a prolonged surge in gasoline prices after the attacks on oil production facilities in Saudi Arabia could undermine that phenomenon and increase the risk of a recession. “It’s clearly not a positive, and it adds a negative […]

Read More

Hard-Liners in Iran See No Drawback to Bellicose Strategy

President Trump appeared to be softening toward Iran. He had broken with his administration’s leading advocate of confrontation, signaled a willingness to meet personally with his Iranian counterpart, and reportedly considered relaxing some sanctions. But Iran, American officials say, responded with violence. The officials have accused Iran of orchestrating or even launching a major attack […]

Read More

An Oil Price Surge Could Hurt Consumer Spending, and the Economy

For months, American consumers have kept the economy humming. While businesses pulled back, shoppers continued to spend. But a prolonged surge in gasoline prices after the attacks on oil production facilities in Saudi Arabia could undermine that phenomenon and increase the risk of a recession. “It’s clearly not a positive, and it adds a negative […]

Read More

Who Really Attacked Saudi Arabia?

Listen and subscribe to our podcast from your mobile device: Via Apple Podcasts | Via RadioPublic | Via Stitcher President Trump is saying that Iran appears to be responsible for the weekend attacks on oil facilities in Saudi Arabia. We look at where things are likely to go from here. [For an exclusive look at […]

Read More

​Job One for Saudis’ New Energy Chief: Picking Up the Pieces

A little over a week ago, Prince Abdulaziz bin Salman finally attained the job for which he had long prepared: energy minister of Saudi Arabia, one of the most crucial positions in the country. Any sense of accomplishment probably did not last long. A daring aerial attack on the kingdom’s oil industry over the weekend […]

Read More

Oil Prices Expected to Remain Elevated After Attack on Saudi Arabia

HOUSTON — Fixing the damage done by the drone attack on the Saudi oil processing plant may be the easy part. The hard part will be calming energy markets, where oil prices have jumped faster than at any time in over a decade. The attack on Saudi Arabia’s Abqaiq plant, which accounts for 5 percent […]

Read More

Attack on Saudi Oil Facility Is Seen as Short-Term Disruption

HOUSTON — The drone attack on one of Saudi Arabia’s most important oil facilities could cripple a portion of Saudi petroleum exports for days or even weeks and send energy prices higher. But experts say that a severe shock to energy markets and the world economy is unlikely. The attack on the Abqaiq processing facility, […]

Read More

Drones Strike Big Saudi Refineries, and Houthis Claim Responsibility

The war that has devastated Yemen reached into Saudi Arabia early Saturday, with drone strikes on two major Saudi oil refineries, and a claim of responsibility from Yemen’s Houthi rebel faction. There were no reports of casualties and the extent of the damage was unclear, but the attacks struck deep within Saudi territory, at the […]

Read More

Interior Dept. Takes Next Step Toward Sale of Drilling Leases in Arctic Refuge

The Trump administration reached a milestone this week in its plan to open a pristine part of Alaska to oil and gas development with the release of a final report on the environmental impact of the plan. The report keeps the Interior Department on track to auction leases for the right to drill in the […]

Read More

T. Boone Pickens Is Dead; Oil Magnate and Corporate Raider Was 91

T. Boone Pickens Jr., the swashbuckling Texas oil-and-gas entrepreneur whose storied life cast him in the disparate roles of corporate raider, defender of shareholder rights, unlikely environmentalist, no-holds-barred polemicist for political conservatism, and controversial philanthropist, died on Wednesday at his home in Dallas. He was 91. Jay Rosser, his spokesman and longtime chief of staff, […]

Read More

T. Boone Pickens, Oil Magnate and Corporate Raider, Dies at 91

T. Boone Pickens Jr., the swashbuckling Texas oil-and-gas entrepreneur whose storied life cast him in the disparate roles of corporate raider, defender of shareholder rights, unlikely environmentalist, no-holds-barred polemicist for political conservatism, and controversial philanthropist, died on Wednesday at his home in Dallas. He was 91. Jay Rosser, his spokesman and longtime chief of staff, […]

Read More

Seeing What the Fighting Is All About on Alaska’s Coastal Plain

Up in the right-hand corner of Alaska, like something freezer-burned and half-remembered in the back of the national icebox, lies a place called the Arctic National Wildlife Refuge. The refuge is the largest wildlife sanctuary in the United States. It is the size of South Carolina. It is also home to the country’s second-largest wilderness […]

Read More

Iranian Tanker Seen Near Syria ‘Unloaded Its Cargo,’ Tehran Says

BEIRUT, Lebanon — An Iranian tanker that Western nations sought to bar from delivering its oil has unloaded its cargo after docking on the Mediterranean coast, a spokesman for the Iranian Foreign Ministry said. Recent satellite images showed the tanker, the Adrian Darya 1, near the Syrian port of Tartus, suggesting that Iran had delivered […]

Read More

Saudi King Appoints a Son, Prince Abdulaziz, as Energy Minister

BEIRUT, Lebanon — King Salman of Saudi Arabia on Sunday named his son Prince Abdulaziz bin Salman as energy minister, putting a member of the royal family for the first time in one of the kingdom’s most important roles, as part of a wider shake-up of top energy-sector jobs. The appointment of Prince Abdulaziz, an […]

Read More

Images from Space Show Released Iranian Oil Tanker Near Syrian Coast

BEIRUT, Lebanon — An Iranian oil tanker caught in the escalating feud between Iran, the United States and other Western nations has anchored off the coast of Syria, according to images released by space technology companies. The tanker, Adrian Darya 1, is carrying crude oil from Iran that Western nations suspected was bound for Syria […]

Read More

Trump’s Methane Rule Rollback Divides Oil and Gas Industry

HOUSTON — Oil and gas producers might have been expected to welcome a decision to loosen regulations affecting their business. But their reaction to the Trump administration’s move to roll back methane-emissions rules revealed at least tactical divisions on climate policy. Contradictory voices quickly emerged Thursday between those who supported the move as a boon […]

Read More

6 Major Climate Change Rules the Trump Administration Is Reversing

ImageThe Trump administration has undone dozens of environmental regulations since Mr. Trump took office in January 2017.CreditClockwise from top left: Mike Blake/Reuters; Katie Orlinsky for NYT; Brandon Thibodeaux for NYT; Jennifer Strickland/USFWS; Jim Wilson/NYT; Al Drago/NYT; Brandon Thibodeaux for NYT; Alex Goodlett for NYT The move to rescind environmental rules governing emissions of methane, a […]

Read More

A Windswept Plain, a Sea of Oil and a Mountain of Money

TENGIZ OIL FIELD, Kazakhstan — In a windswept land of salt flats and wild horses, investors are pouring money into one of the largest and most lucrative oil fields outside the Middle East. Oil has been pumped from this remote plain since the early 1990s at a pace that would have depleted other fields by […]

Read More

Indonesia Confronts, Belatedly, a Huge Oil Spill Near Jakarta

SEDARI, Indonesia — Fish and crustaceans usually run strong in the Java Sea, but the men of Sedari village, on the northern coast of the Indonesian island of Java, have no plans to go out on its waters. Weeks after an unexpected gush of crude oil from an offshore well sent an inky stain across […]

Read More