Free Republic

BATA, Equatorial Guinea—Classified American intelligence reports suggest China intends to establish its first permanent military presence on the Atlantic Ocean in the tiny Central African country of Equatorial Guinea, according to U.S. officials. The officials declined to describe details of the secret intelligence findings. But they said the reports raise the prospect that Chinese warships would be able to rearm and refit opposite the East Coast of the U.S.—a threat that is setting off alarm bells at the White House and Pentagon. Principal deputy U.S. national security adviser Jon Finer visited Equatorial Guinea in October on a mission to persuade...

Russian President Vladimir Putin and Chinese authorities decided to form the strategic alliance for defense, trade and energy. Russia will deliver oil to China and China will collaborate with Russia in Geopolitical strategic defense of Euresia. Russia's Security Council and the Military Commission of the Chinese Communist Party's Politburo will form a forum and will work closely to make sure both countries can create and maintain the necessary military and political infrastructure as well as coordination. According to some international think tanks, sources close to Russia's Security Council say recommending countermeasures to check the U.S. geopolitical "offensive" in Eurasia...

The Kurdistan Regional Government (KRG) in northern Iraq has formalized two major energy agreements with U.S. firms HKN Energy and WesternZagros in Washington, D.C., Kurdish media reported on Monday, in deals valued at a combined $110 billion, despite a legal showdown with the federal government of Iraq over control of the country’s oil exports... ...The deals were formalized during KRG Prime Minister Masrour Barzani's official visit to the United States this week... ...Washington has been advocating for the resumption of Kurdish oil exports, which have been stalled since March 2023 due to legal disputes and pipeline shutdowns. Washington's push aims...

Ministers secretly advised Muammar Gaddafi’s Libyan regime how to secure the successful early release of the Lockerbie bomber, documents obtained by The Daily Telegraph have disclosed. A Foreign Office minister sent Libyan officials detailed legal advice on how to use Abdelbaset al-Megrahi’s cancer diagnosis to ensure he was released from a Scottish prison on compassionate grounds. The Duke of York is also said to have played a behind-the-scenes role in encouraging the terrorist’s release. The Libyans closely followed the advice which led to the controversial release of Megrahi – who was convicted of the murder of 270 passengers on Pan...

TALLINN/ANTALYA, Turkey, May 15 (Reuters) - Estonia said on Thursday that Moscow had briefly sent a fighter jet into NATO airspace over the Baltic Sea during an attempt to stop a Russian-bound oil tanker thought to be part of a "shadow fleet" defying Western sanctions on Moscow. Russia, which regards sanctions as a malign attempt to crush its economy, says all its ships have free passage in the Baltic and any attempt to stop them is dangerous. Estonia's navy said the unflagged Jaguar ship, which went onto a UK sanctions list last week, refused to cooperate when asked to stop...

PEMEX You might say Mexican state-owned petroleum company Pemex had a bad day Thursday. As Reuters reported, there were fires at three different facilities owned by the company — two in Mexico and one in Texas. And while there are still some unknowns, in an update, the wire service gives what details are known:(Reuters) – A Thursday night fire at Pemex’s 312,500 barrel-per-day (bpd) Deer Park, Texas refinery broke out in a crude distillation unit (CDU), said people familiar with plant operations.The sources did not know which of two Deer Park CDUs were hit by fire. The plant has a...

Federal agents have arrested Utah oil magnate James Lael Jensen, his wife Kelly Anne Jensen, and two of their sons, Maxwell Sterling Jensen (aka “Max”) and Zachary Golden Jensen, in connection with a sprawling $300 MILLION smuggling and money laundering conspiracy tied to Mexican criminal organizations. Court records reveal that all four members of the Jensen family were arrested on Wednesday, April 23 — with sons Max and Zachary taken into custody in the Rio Grande Valley, while James and Kelly Jensen were apprehended at their 26,893-square-foot mansion in Sandy, Utah, reportedly worth over $9.1 million. The arrest was carried...

SCOOP: 🚨 Chinese representatives spotted at @PDVSA headquarters in Venezuela ahead of expiring US licenses for American oil companies in Venezuela 🚨 There are 17 more days left until the licenses for American oil companies in Venezuela will expire. Sources on the ground in Venezuela sent me this photo of Chinese officials sent by Xi JinPing to prepare for the seizing of American oil assets, sitting in the lobby of PDVSA. Additionally this week, thousands of Chinese workers arrived in Venezuela to work at the oil refineries and to literally seize the American oil assets in Venezuela on May 27th....

California Governor Gavin Newsom’s hostility to the oil industry could lead to the closure of local refineries — which, in turn, could push gas prices past $6 per gallon, or even $9 per gallon, a local analyst has warned. Local ABC affiliate KABC-7 reported: The Phillips 66 Refinery in Los Angeles could close by the end of this year, which would send prices skyrocketing above $6, according to USC Professor Michael Mische. Mische added that if the Valero Refinery in the Bay Area closes by the end of next year, that could send gas prices soaring close to $9 a...

Venezuelan electoral authorities on Sunday claimed that 95 percent of voters in a nonbinding referendum approved of the nation's territorial claim on a huge chunk of neighboring oil-rich Guyana.

I might be in the minority of car owners, but I actually enjoy changing my oil. My local big box store has bargain prices for jugs of long-lasting full-synthetic oil and carries OEM filters, so I can usually get out the door for less than $40 in materials for a DIY full-synthetic oil change. Saving money is definitely nice, but so is peace of mind. I'm forever scarred by the time my wife took her SUV to a rapid oil change place that didn't fully tighten the drain plug. Fortunately, we caught the growing oil slick in our driveway before...

The head of the largest independent oil producer in the Permian Basin predicts US shale production has peaked and will likely decline from here as oil prices hover near four-year lows."We have a very good view of what the US looks like. And right now that's a business that's slowing dramatically and likely declining in terms of production," Diamondback Energy (FANG) CEO Travis Stice said during the company's earnings call on Tuesday morning.Stice, who is slated to step down and become executive chairman later this month, issued a shareholder letter on Monday in which he pointed to declining crew count...

The Kremlin said oil prices do not affect its national security decisions after U.S. President Donald Trump linked lower prices to Russia wanting to settle the Ukraine war. Dmitry Peskov, spokesman for Russian President Vladimir Putin, responded to Trump's remarks during a press briefing on Tuesday morning. Peskov said Russia will continue to work within the OPEC+ format on managing oil prices, the state news agency TASS reported. -snip- Trump had told reporters in the Oval Office on Monday: "I think Russia with the price of oil right now, oil has gone down, we are in a good position to...

Russia's oil price in roubles has fallen to a two-year low below the 4,000 rouble per barrel mark and some 40% lower than planned in the federal budget, data showed, piling pressure on the Kremlin, already saddled with a burgeoning budget deficit. -snip- According to Reuters calculations, the average price of Russia's mix of Urals and ESPO blends dipped on May 2 to $48.92 per barrel, or 3,987 roubles, which is more than 40% below the 6,726 roubles the government had originally planned for this year. That's the lowest since May 2023, according to Reuters data. It is also still...

Oil producing countries are bracing for a bumpy ride this year, with a precipitous drop in prices to the lowest levels in four years seen as the initial, alarming sign of looming turmoil. A price drop benefits any country seeking to cut its fuel bill. But in oil producing nations, lower prices can feed economic troubles, and sometimes political unrest, as governments slash spending. Analysts who had already been predicting lower oil prices because of softening demand amid increased global production said the possibility of a tariff trade war and the overall climate of uncertainty could well deepen producers’ woes....

The Department of Justice filed lawsuits Thursday against Hawaii and Michigan over planned climate-based litigation against fossil fuel companies. The DOJ also filed separate lawsuits against New York and Vermont over those states’ “climate superfund” laws, that levy fines against fossil fuel companies for producing legal products that consumers willingly and needfully purchase. Citing President Donald Trump’s “Protecting American Energy from State Overreach” executive order, Attorney General Pamela Bondi said in a statement that these laws and lawsuits “threaten American energy independence and our country’s economic and national security.” States, cities and anti-fossil fuel nonprofits like Our Children’s Trust have...

The moves are part of the Trump administration's maximum pressure campaign on Iran to help weaken its terrorist activities in the Middle East, including through its use of proxy forces. President Donald Trump on Thursday announced the United States will impose secondary sanctions on all countries or individuals that purchase oil or petrochemicals from Iran. The announcement comes a day after the State Department sanctioned seven entities it accused of trading Iranian oil and petrochemical products. The president confirmed the new secondary sanctions in a post on Truth Social, warning countries they would not be allowed to do business with...

The United States and Ukraine have signed an agreement over access to Ukraine’s natural resources, Bloomberg News reported on Wednesday. The deal will provide the US privileged access to new investment projects to develop Ukraine’s natural resources, including aluminum, graphite, oil and natural gas, Bloomberg reported.

SANDY — A Utah couple is being accused of money laundering and smuggling oil into the U.S. alongside Mexican cartels, after they were arrested during a multi-state raid by U.S. Marshals, according to court documents. James Lael Jensen and his wife, Kelly Anne Jensen, were booked into the Salt Lake County Jail on Wednesday. The couple and two of his sons are being federally indicted for allegedly conspiring to smuggle 2,881 shipments of oil from Mexico that they knew were illegal. The family is accused of moving at least $300 million from Mexico to the U.S. The couple was arrested...

Russia's economy ministry has cut its forecast for the average price of Brent crude in 2025 by nearly 17% from what it saw the price would be this year in its September calculations, according to documents obtained by Reuters. -snip- The ministry sees the price for Urals, Russia's main blend, at $56 per barrel - against the $69.7 per barrel Russia has based its 2025 budget on - and below the $60 'cut off' price, which determines how much money is sent to the budget reserve National Wealth Fund (NWF). -snip- The price of Urals crude oil is crucial for...