Latest Oil Gas Headlines
All the headlines from our Oil Gas Topic Page, ordered by recency.
Reuters: Russian Oil Cap Spurs Insurer Fears of Oil-Laden Ships Being Left at Sea
Nov 11 2022 // Oil-laden tankers risk being left languishing at sea if insurers do not urgently get clarity on an unfinished G7 and European Union plan to cap the price of Russian crude, two senior industry executives told Reuters. The...
Grounded Oil Supertanker Could Take Month to Free: Indonesian Navy
Nov 8 2022 // Indonesian authorities said on Monday it could take up to a month to free a crude oil tanker stuck in its waters, while the United States slapped sanctions on the vessel for alleged links to Hezbollah and a branch of...
Oil & Gas Operator Agrees to $1.5M Settlement Over Clean Air Act Violations
Nov 7 2022 // The United States Department of Justice announced that Utica Resource Operating LLC (URO) has agreed to a settlement resolving alleged Clean Air Act violations at URO’s oil and gas production well facilities in Ohio....
Ahem, Florida Lawmakers: State Insurance Market Badly Needs an Oil Change
Nov 7 2022 // As the Florida Legislature prepares for its 2nd Special Session on property insurance in 2022, it’s time we examine why our market sputtered out of control and discuss the necessary solutions to fix it. Many...
Court Revives Louisiana Wetlands Damage Suit Against Big Oil
Nov 7 2022 // A federal appeals court has ordered a nine-year-old lawsuit filed against oil and gas companies over damage to Louisiana’s wetlands to be returned to state court for trial, potentially clearing the way for at least...
UK to Cap Price of Russian Oil Using Insurance, Brokerage, Shipping Services Ban
Nov 4 2022 // The UK government is to cap the price of Russian oil for any company in the world using the country’s insurance, brokerage and shipping services. The UK Treasury said in a statement on Thursday that the country will...
Dutch Government to End Credit Insurance for Fossil Fuel Exports
Nov 4 2022 // The Dutch government on Thursday said it intends to stop giving companies and banks credit insurance for exports in the fossil fuel sector as of Jan. 1, following through on a pledge made at the COP-26 climate conference...
Court Revives Louisiana Wetlands Damage Suit Against Big Oil
Oct 24 2022 // NEW ORLEANS (AP) – A federal appeals court has ordered a nine-year-old lawsuit filed against oil and gas companies over damage to Louisiana’s wetlands to be returned to state court for trial, potentially clearing...
Insurers Still Unclear How G-7 Sanctions on Russian Crude Oil Cargoes Will Work
Oct 24 2022 // Just six weeks before European Union sanctions on Russian oil come into effect, insurers are still unclear as to exactly how they will work. At the heart of the uncertainty is a continued lack of detail surrounding US-led...
Russia Poised to Largely Circumvent G-7 Oil Price Cap, Insurance Restrictions
Oct 21 2022 // Russia can access enough tankers to ship most of its oil beyond the reach of a new G-7 price cap, industry players and a U.S. official told Reuters, underscoring the limits of the most ambitious plan yet to curb...
New Jersey Lawsuit Alleges Climate Change Deception by Oil and Gas Industry
Oct 20 2022 // New Jersey officials announced a lawsuit Tuesday against five oil and gas companies and a petroleum trade organization, alleging they had known for decades about the harmful impact of fossil fuels on climate change but...
Insurers Increasingly Withdraw From Fossil Fuel Projects: Climate Activists’ Report
Oct 20 2022 // Insurance companies that have long said they’ll cover anything, at the right price, are increasingly ruling out fossil fuel projects because of climate change – to cheers from environmental campaigners. More than a...
Russia Oil Exporter Rosneft Moves Into Tanker Chartering as Western Sanctions Loom
Oct 18 2022 // Russia’s biggest oil exporter Rosneft has expanded its tanker chartering business to ease oil shipments for buyers amid looming Western sanctions on insurance of Russian oil shipments, three sources familiar with the...
Exxon’s Russia Oil Output Collapsed After Rejection of Local Tanker Insurance: Sources
Oct 17 2022 // Oil output at the giant Exxon-led Sakhalin-1 Russian Pacific project collapsed following the U.S. major’s refusal to accept local insurance for tankers after Western insurers pulled out due to sanctions, several...
Report: Oil Spills Dropped Dramatically Last Decade
Oct 17 2022 // Oil and natural gas spills from tankers and pipelines in U.S. waters dropped dramatically from the last decade of the 1990s to the one from 2010 through 2019, according to a federal report. The amounts spilled and dumped...
EU’s Russia Oil Sanctions, Effective in December, Are Already Hitting Nation’s Trade
Oct 11 2022 // European Union sanctions on Russian oil might still be eight weeks away, but they’re hitting trade in the nation’s crude already. The bloc’s measures, including a ban on insuring tanker shipments, enter...
Munich Re Commits to Stricter Policies for Oil & Gas Underwriting, Investments
Oct 7 2022 // Munich Re, the world’s largest reinsurer, on Thursday announced stricter policies for investing in and underwriting oil and gas projects, drawing praise from environmental activists. The German reinsurer said on its...
Norway Sends Soldiers to Guard Major Oil & Gas Plants After Nord Stream Leaks
Oct 4 2022 // Norway’s military said on Monday it had posted soldiers to help guard major onshore oil and gas processing plants, part of a wider effort to boost security amid suspicion that sabotage caused leaks in the Nord Stream...
EU Proposes Exempting Maritime Pilot Services From Russia Oil Ban
Oct 3 2022 // The European Union proposed making so-called pilot services exempt from sanctions targeting the transfer of Russian oil that are set to kick in this year to punish Moscow for its invasion of Ukraine. The exception, which...
TotalEnergies Reports Unusual Drone Activity Near North Sea Oil & Gas Field
Sep 30 2022 // TotalEnergies SE said it spotted an aerial drone close to an oil field in the Danish North Sea, intensifying concerns of an energy conflict erupting in Europe. Unusual drone activity was seen near its Halfdan B oil and gas...
