The British oil giant BP said on Tuesday that it had removed its chair, Albert Manifold, saying that the board had “serious concerns” about his leadership, less than a year after he was appointed. “The board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken…
Oil prices climbed on Tuesday, recovering some of the previous day’s losses, after the United States said it had carried out strikes on missile launch sites in Iran, casting doubt on the prospects of a peace deal. The strike followed signals from Israel that it planned to intensify its campaign against the Iranian-backed militant group…
When the Strait of Hormuz finally reopens, shipping companies will need to know which oil tankers get to start moving first, and who to ask for the go-ahead. Vessels will need guidance on routes. And there’s the question of the potential threat of mines in the strait. The United States and Iran are moving closer…
American officials said on Sunday that the United States and Iran had agreed in principle to a peace deal that would reopen the Strait of Hormuz. But final approval of a deal could take days. While U.S. officials offered broad outlines of the deal, the details remain to be worked out. Source: Read Full Article
The United States and Iran have reached a deal in principle that calls for the reopening of the Strait of Hormuz, a U.S. official said on Sunday. But the announcement left many questions unanswered, starting with how soon normal shipping through the strait could resume and when oil prices would begin to come down. The…
Countries in Asia are reeling from a shortage of naphtha, a petroleum derivative used in a dizzying array of products, from household plastic wrap to industrial inks and medical devices. Early global alarm over the war in the Middle East centered on skyrocketing crude prices and gasoline spikes at the pump. But in East Asia,…
