The U.S. Supreme Court is set to explore legal questions arising from the fraught history of U.S.-Cuban relations when it considers the scope of a 1996 law that lets U.S. nationals seek compensation for property confiscated by the communist-led Cuban government.The justices hear arguments on Monday in two cases centered on the federal law called the Helms-Burton Act, one involving U.S.
The Dutch-flagged cargo ship Minervagracht was ablaze and adrift in the Gulf of Aden on Tuesday, a day after being hit by an explosive device, its operator and the EU maritime mission Aspides said.Yemen's Houthi militants claimed responsibility on Wednesday for the attack, saying it was carried out by a cruise missile.
Chevron will proceed with its $53 billion acquisition of Hess, after it prevailed in a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery in decades.Shares of Chevron were up 3.6% in premarket trading, with Hess gaining nearly 7.4%. Exxon shares were up 0.3%.CNBC first reported the arbitration outcome.
U.S. energy groups are asking President Donald Trump's administration to exempt liquefied natural gas tankers from a new rule that will require producers to move an increasing percentage of their exports on U.S.-built vessels as part of a broader push to revive domestic shipbuilding.The U.S. is the world's No.
Energy prices surged on Thursday after Iran struck the world’s largest LNG complex, causing damage that Qatar said could take five years to repair, as the energy sector's worst fears about the war launched by the U.S. and Israel on Iran came true.QatarEnergy CEO Saad al-Kaabi told Reuters the state-owned gas company may have to declare force majeure on long-term contracts to Italy, Belgium
Most western oil and gas majors have significant operations in the Middle East, where the U.S.-Israeli war on Iran has disrupted oil and gas shipping and halted some output.France's TotalEnergies, which has the biggest upstream exposure to the region compared with its global output, has said some 15% of its production is offline due to the war.
Growing electricity demand from AI and data centres, together with rising fuel use in Asia and European gas needs could turn an expected global liquefied natural gas supply glut into a shortage by 2030, Qatar Energy CEO Saad al-Kaabi said on Monday.LNG coming online between 2026 and 2029 has raised concerns of a supply glut that could depress prices, with projects like Golden Pass LNG on the U.S.
The Caspian Pipeline Consortium, which delivers oil from Kazakhstan, said it had suspended oil exports from the Black Sea's terminal on Monday due to bad weather.It also said that terminal has halted oil intake due to full reservoirs until weather improves.CPC's loading operations have already been constrained by the Ukrainian drone attack on November 29.
Chevron is studying options to buy global assets of sanctioned Russian oil firm Lukoil, five sources familiar with the process told Reuters on Monday.The U.S. Treasury gave clearance last week to potential buyers to talk to Lukoil about foreign assets. Chevron would join Carlyle and other firms in the race for the Lukoil portfolio worth at least $20 billion.
Executives at two of Europe's top gas suppliers, ExxonMobil and QatarEnergy, on Monday warned they could stop doing business with the European Union if it does not significantly loosen a sustainability law that could impose fines of 5% of their global revenue.Exxon CEO Darren Woods told Reuters on the sidelines of the ADIPEC meeting in Abu Dhabi that the EU's Corporate Sustainability Due
Guyana's parliament passed an oil pollution bill late on Friday that holds parties liable for damages caused by oil spills, including from vessels.The bill, which passed with a majority of votes cast in a simple voice vote, is expected to soon be signed into law by President Irfaan Ali.Guyana, whose oil production is controlled by an Exxon Mobil-led XOM.
U.S. Secretary of State warned Venezuela on Thursday that it would be "a very bad day" for the South American country if it were to attack its neighbor Guyana or U.S.-based energy giant ExxonMobil, in comments that threatened unspecified action in such a case.Caracas condemned Rubio's remarks, made during a visit to Guyana's capital.