Syria

Energy Markets

US senators look for to harden restriction on offering reserve oil to China

U.S. senators introduced legislation on Thursday to harden the ban on selling petroleum from the Strategic Petroleum Reserve (SPR) to China. The costs, introduced by Senators Joni Ernst, a Republican and John Fetterman, a Democrat, would guarantee that business owned or controlled by China's federal government do not purchase oil from the SPR. Senators Bob Casey and Sherrod Brown, both Democrats, and Tom Cotton, a Republican politician, likewise signed up with as co-sponsors. A financing bill signed by President Joe Biden this month blocked Chinese business from buying oil, however included an exception if the oil was not exported to...

Oil & Gas

Iran's Revolutionary Guards - a powerful group with a wide regional reach

Iranian English-language Press TV reported Iranian sources saying that Iran's elite Revolutionary Guards carried out a drone strike against Israel targets on Saturday. Ayatollah Khamenei, the Iranian Supreme Leader, vowed revenge after a senior commander of the Corps' Quds Force, Mohammad Reza Zahedi was killed in an airstrike that Iran blamed Israel for on April 1, in Damascus. Here are some questions and their answers regarding the IRGC - Iran's most powerful military force, which includes its own army and navy, as well as an air force and intelligence wing. What is the IRGC? The Shi'ite Muslim ruling clerical system...

Oil & Gas

United States senators seek to harden restriction on selling reserve oil to China

Two U.S. senators introduced legislation on Thursday to solidify the ban on selling crude oil from the Strategic Petroleum Reserve (SPR) to China. The bill, introduced by Senators Joni Ernst, a Republican and John Fetterman, a Democrat, would make sure that business owned or managed by China's government do not purchase oil from the SPR. A financing expense signed by President Joe Biden this month obstructed Chinese companies from purchasing oil, but contained an exception if the oil was not exported to China. This bipartisan costs will make sure America's Strategic Petroleum Reserve does not fall into the hands of...

Fossil Fuels

Projectiles did not impact United States base in Syria, US authorities say

Projectiles released in the direction of a U.S. airbase in a gas field in Syria's Deir alZor province did not hit the center, two U.S. officials said on Tuesday. Previously, a security source informed Reuters that Iran-backed militia targeted the base with six shells, all of which fell in the area of the U.S. base, including that the U.S.-led union reacted to the attack with weapons. The U.S. official, speaking on the condition of anonymity, stated the projectiles did not strike the base and there were no injuries. The main mentioned preliminary reports that can alter. Lebanese pro-Iranian tv channel...

Fossil Fuels

Oil falls by more than $1/bbl as Israel authorities look for to prevent wider Middle East war

Oil rates fell by more than $1 a barrel on Monday after Israeli officials said they wanted to prevent dragging the Middle East into an allout war while reacting to a deadly rocket strike in the Israelioccupied Golan Heights over the weekend. Brent futures for September delivery shed $1.39 to $ 79.74 a barrel, a 1.7% loss, by 11:17 a.m. EDT (1517 GMT). U.S. unrefined sank $1.40 to $75.76 per barrel, a 1.8 percent drop. 2 Israeli officials informed on Monday that Israel wanted to injure the Iranian-backed Lebanese group Hezbollah, which the nation blames for the Saturday attack that...

Fossil Fuels

Turkish court convicts Syrian lady over Istanbul battle

A Turkish court sentenced Ahlam Albashir, a Syrian nationwide, to life in jail on Friday over a 2022 bombing that killed six people in Istanbul's main shopping street, a copy of the decision gotten revealed. Six Turkish residents, 2 members each of 3 households, were eliminated in the attack on Nov. 13, 2022. The explosion likewise wounded about 100 individuals in the busy street loaded with buyers and tourists. The court imposed a total of seven life sentences on Albashir, who was previously identified by authorities as the individual who planted the bomb. The case likewise involved more than 30...

Oil & Gas Equipment

United States sanctions on Houthis over Red Sea attacks take effect

The United States on Friday returned the Houthis to a list of terrorist groups as planned, hitting the Iranaligned group with severe sanctions that the United Nations fears could harm Yemen's vulnerable economy and civilians. The United States in January stated it would designate the Houthis as a Specifically Designated Global Terrorist as it intended to cut off financing and weapons the group has actually utilized to attack or pirate ships in important Red Sea shipping lanes. However a senior U.N. help official on Wednesday stated the sanctions could hurt the war-torn country's economy, particularly commercial imports of important items....