Timothy Gardner News

The U.S. Navy could begin escorting oil tankers through the Strait of Hormuz if necessary, President Donald Trump said on Tuesday, adding he had ordered the U.S. International Development Finance Corporation to provide political risk insurance and financial guarantees for maritime trade in the Gulf.The move marks one of the administration’s most aggressive steps yet to attempt to contain soaring energy prices amid escalating conflict in the Middle East that has raised risks to shipping through key waterways.Global crude prices have spiked since Israeli and U.S.

The Trump administration on Thursday issued more Iran-related sanctions, targeting 13 entities based in Hong Kong, China, the United Arab Emirates and the Marshall Islands, as well as eight vessels, the U.S. Treasury Department said.The measures cover Greek national Antonios Margaritis and his network of companies and vessels that Treasury said was involved in transporting Iranian oil exports in violation of sanctions.Treasury also designated Ares Shipping Limited in Hong Kong…

JERA, Japan's biggest power generator, has agreed to new supply deals for U.S. liquefied natural gas from four projects to diversify its global portfolio away from its reliance on Australia, it said on Thursday.JERA plans to buy up to 5.5 million metric tons per annum (mtpa) of U.S. LNG under 20-year contracts, with deliveries starting around 2030. That total includes some previously reported deals as well as newly announced agreements.Of the 5.5 mtpa announced on Wednesday 2.5 mtpa are non-binding agreements…

The U.S. issued Iran-related sanctions targeting more than 30 individuals and entities it said are part of a "shadow banking" network that has laundered billions of dollars through the global financial system, the Treasury Department said on Friday.The sanctions, which target Iranian nationals and some entities in the United Arab Emirates and Hong Kong, were announced as U.S. President Donald Trump's administration is working to get a new nuclear deal with Tehran. Treasury said…

The CEO of a company seeking to build a liquefied natural gas terminal near Philadelphia told Reuters on Wednesday he met officials at the White House this week to "provide intelligence" about the project in the works for years despite local opposition.Penn America Energy Holdings wants to export 7.2 million tons a year of LNG from a site near Philadelphia to markets in Europe and Asia. Franc James, the CEO, said he had a meeting at the White House on Tuesday and that the company is considering several locations other than the original site in Chester…

Oil producer Chevron's U.S. license to operate in Venezuela will expire on May 27 as planned, Secretary of State Marco Rubio said in a post on his personal X account.Rubio's post contradicted U.S. special envoy Richard Grenell's contention on Tuesday following a meeting with a Venezuelan top official that a 60-day extension of the license would be granted. Rubio's brief post did not mention the talks."The pro-Maduro Biden oil license in #Venezuela will expire as scheduled next Tuesday May 27," Rubio said in his post late on Wednesday.The U.S.

The Trump administration imposed sanctions on Iranian oil trading networks on Thursday, including on a China-based crude oil storage terminal linked via a pipeline to an independent refinery, just days before direct talks between the U.S. and Iran.The sanctions came after Secretary of State Marco Rubio said the U.S. will hold direct talks with Iran on Saturday in Oman. President Donald Trump said on Monday that Iran would be in "great danger" if the talks were unsuccessful.The U.S.

Fossil fuel and agriculture industry executives on Wednesday criticized a plan by President Donald Trump's administration for big fees on China-linked ships entering U.S. ports, arguing at a hearing in Washington that the move would hobble their ability to export everything from coal to soybeans.The proposed fees on China-built vessels could top $3 million per U.S. port call.The administration says the fees would curb China's commercial and military dominance on the high seas and promote a U.S.

President Donald Trump's administration is considering a plan to stop and inspect Iranian oil tankers at sea under an international accord aimed at countering the spread of weapons of mass destruction, sources familiar with the matter told Reuters.Trump has vowed to restore a "maximum pressure" campaign to isolate Iran from the global economy and drive its oil exports to zero, in order to stop the country from obtaining a nuclear weapon.Trump hit Iran with two waves of fresh sanctions in the first weeks of his second-term…

U.S. President Donald Trump's administration said on Friday it has granted a liquefied natural gas export license to the Commonwealth LNG project in Louisiana, the first approval of LNG exports after former President Joe Biden paused them early last year.The exports are approved to go to markets in Asia and Europe.Energy Secretary Chris Wright, whose agency is responsible for approving the shipments, said exporting U.S. LNG "strengthens the U.S. economy and supports American jobs while bolstering energy security around the world."The U.S.

Chris Wright, President-elect Donald Trump's pick to head the U.S. Energy Department, will tell U.S. senators in his confirmation hearing on Wednesday his first priority is expanding domestic energy production including liquefied natural gas and nuclear power.Wright, 59, believes fossil fuels are the key to ending world poverty, which is a greater problem than climate change's "distant" threat, according to a report he wrote as CEO of oilfield services company Liberty Energy LBRT.N.Wright supports some fossil fuel alternatives…

The Biden administration plans to impose more sanctions on Russia over its war on Ukraine, taking aim at its oil revenues with action against tankers carrying Russian crude, three sources with knowledge of the matter said.President Joe Biden's administration has sought to shore up support for Ukraine before President-elect Donald Trump takes office on Jan. 20, given the Republican leader's frequent complaints about the cost of U.S. support for Ukraine."It's a very substantial package.

The administration of U.S. President Joe Biden released a long-awaited study on the economic and environmental impacts of liquefied natural gas exports on Tuesday, saying the results underscored the need for a cautious approach to new permits.Biden in January had paused the Department of Energy's approvals of U.S. LNG exports to big consumers in Asia and Europe so that his administration could conduct the review, triggering complaints from the oil and gas industry."The main takeaway is that a business-as-usual approach is neither sustainable nor advisable," Energy Secretary Jennifer Granholm told reporters ahead of the release of the study.

The United States hit North Korea and Russia on Monday with new sanctions that the Treasury Department said targeted Pyongyang's financial activities and military support to Moscow.The sanctions, which list North Korean banks, generals and other officials as well as Russian oil shipping companies, are the latest U.S. measure aimed at disrupting North Korea's support to Russia's war in Ukraine.The North Korean banks targeted include Golden Triangle Bank and Korea Mandal Credit Bank…

President Joe Biden's administration will release as soon as Tuesday a study on exports of liquefied natural gas that is expected to stop short of saying the trade is not in the public interest, two industry sources with knowledge of the issue said.Biden in January paused the Department of Energy's approvals of U.S. LNG exports to big consumers in Asia and Europe in order for his administration to conduct the study on the environmental and economic impacts of the booming industry.President-elect Donald Trump opposed the pause and has said he would move quickly to overturn it. Trump's transition team is working to roll out an energy package within days of his taking office on Jan.

The U.S. plans to issue a study on the environmental and economic effects of liquefied natural gas (LNG) exports by the middle of this month, a Department of Energy official said on Wednesday."We expect to release the final study ... by mid-December for a 60-day public comment period," Brad Crabtree, an assistant secretary at the DOE, told lawmakers at a House of Representatives hearing.The administration of Democratic President Joe Biden put a pause in January on approvals of new LNG exports to countries with which the U.S.

The U.S. Department of Energy's loans office said on Friday it has finalized a loan of $1.3 billion to ENTEK Lithium Separators to finance a plant in Indiana for making lithium-ion battery separators used mostly in electric vehicles.WHY IT'S IMPORTANTThe Loan Programs Office is racing to finalize billions of dollars in loans to companies developing cutting-edge technologies expected to help speed an energy transition and curb climate change.The loan was offered conditionally in July through the LPO's Advanced Technology Vehicles Manufacturing Loan Program, which that has $40 billion in direct lending authority.It is uncertain whether…

Former President Donald Trump's return to the White House could mean tougher enforcement of U.S. oil sanctions against Iran, potentially trimming global supplies, but his administration could struggle to get China, Iran's top crude customer, to cooperate, analysts said.Cracking down on OPEC-member Iran would support global oil prices, but the effect could also be offset by other Trump policies, from measures to expand domestic drilling, the imposition of tariffs on China that could depress economic activity, or an easing of relations with Russia that could unfetter its sanctioned crude shipments.“Trump cuts both ways for oil prices,” said Clay Seigle, board member at the Houston Committee on Foreign Relations and chairman of its Finance Committee.

The United States expanded sanctions against Iran's petroleum and petrochemical sectors on Friday in response to an Iranian missile attack on Israel, the administration of President Joe Biden said.The U.S. move adds petroleum and petrochemicals to an executive order that targets key sectors of Iran's economy with the aim of denying the government funds to support its nuclear and missile programs."The new designations today also include measures against the 'Ghost Fleet' that carries Iran’s illicit oil to buyers around the world…

The U.S. on Thursday imposed sanctions on two companies and two vessels linked to Russia's Arctic LNG 2 project, Washington's latest step to add costs on Moscow for its invasion of Ukraine.The Arctic 2 project, 60% owned by Russia's Novatek had been due to become Russia's largest liquefied natural gas plant with eventual output of 19.8 million metric tons per year of LNG from three trains.Novatek may be forced to scale back the project following a a raft of U.S. sanctions including ones imposed in August.The U.S.

Russian oil exporters are charging more for their oil in major market India than at any time since the war in Ukraine started as a growing number of shippers and intermediaries take part in the trade, weakening the impact of Western sanctions on Moscow.The exporters have had to offer deep discounts to encourage shipping companies and traders to move their crude and brave the risk of sanctions since Russia's full-scale invasion of Ukraine in February 2022.Among the restrictions…

U.S. forces on Saturday destroyed one Iran-backed Houthi uncrewed aerial system in the southern Red Sea and saw two others crash into Red Sea, U.S. Central Command said.The Central Command forces also destroyed two Houthi anti-ship ballistic missiles fired in direction of the USS Gravely, it said. No injuries or damage were reported by U.S., coalition or commercial ships, it said.(Reuters - Reporting by Timothy Gardner; Editing by William Mallard)

The United States on Wednesday issued hundreds of fresh sanctions targeting Russia over the war in Ukraine in action that took aim at Moscow's circumvention of Western measures, including through China.The U.S. Treasury Department imposed sanctions on nearly 200 targets and the State Department designated more than 80 in one of the most wide-ranging actions against Chinese companies so far in Washington's sanctions aimed at Russia.The U.S. imposed sanctions on 20 companies based in China and Hong Kong…