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Lifting US Sanctions on Iran Could Crush China’s ‘Teapot’ Oil Refineries

By Ron Bousso Summary Chinese independent refineries accounted for 77% of Iran 2024 exports Iranian imports are discounted, offering profits uplift Removal of sanctions will undermine teapots’ business model LONDON, May 19 – The possible lifting of U.S. sanctions on Iran’s oil exports could deal a fatal blow to independent Chinese refineries that have thrived by …

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How BP Top Brass Can Get an Elliott-Backed Revamp

May 19 (Reuters Breakingviews) – Elliott Investment Management’s next big move at BP is installing board leadership it likes. The U.S. activist, which now holds 5% of the struggling $78 billion oil major, understandably wants a swift replacement for departing Chair Helge Lund. While suitable candidates aren’t exactly abundant, some exist. The sooner a new …

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First LNG Ship Bunkering Hub in US Gulf Coast Secures Permits to Start Work

(Reuters) – A joint venture project developing the first marine fuel facility for liquefied natural gas in the U.S. Gulf Coast has secured final permits and construction is expected to begin later this year, executives involved said on Monday. The global shipping industry has been looking for fuel solutions to cut carbon emissions, with LNG …

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Dividends Declared the Week of May 12

Here is a compilation of dividends declared during the week of May 12 from select upstream, midstream and service and supply companies including Hess Corp, Diversified Energy and South Bow.

Oil Posts Weekly Gain but Remains Under Supply Hike Pressure

Summary Brent, WTI rise after more than 2% drop in previous session Brent and WTI post second straight weekly gains Focus on Iran nuclear deal IEA hikes supply growth forecast, eyes surplus this year and next (Reuters) – Oil settled higher on Friday, notching a second straight week of gains on easing U.S.-China trade tensions, …

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