• 9 hours Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 9 hours Oil Gains Spur Growth In Canada’s Oil Cities
  • 10 hours China To Take 5% Of Rosneft’s Output In New Deal
  • 11 hours UAE Oil Giant Seeks Partnership For Possible IPO
  • 11 hours Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 12 hours VW Fails To Secure Critical Commodity For EVs
  • 13 hours Enbridge Pipeline Expansion Finally Approved
  • 14 hours Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 15 hours OPEC Oil Deal Compliance Falls To 86%
  • 1 day U.S. Oil Production To Increase in November As Rig Count Falls
  • 1 day Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 1 day Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 2 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 2 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 2 days Aramco Says No Plans To Shelve IPO
  • 4 days Trump Passes Iran Nuclear Deal Back to Congress
  • 4 days Texas Shutters More Coal-Fired Plants
  • 4 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 5 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 5 days Chevron Quits Australian Deepwater Oil Exploration
  • 5 days Europe Braces For End Of Iran Nuclear Deal
  • 5 days Renewable Energy Startup Powering Native American Protest Camp
  • 5 days Husky Energy Set To Restart Pipeline
  • 5 days Russia, Morocco Sign String Of Energy And Military Deals
  • 5 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 5 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 5 days India Needs Help To Boost Oil Production
  • 6 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 6 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 6 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 6 days District Judge Rules Dakota Access Can Continue Operating
  • 6 days Surprise Oil Inventory Build Shocks Markets
  • 6 days France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
  • 6 days Syria’s Kurds Aim To Control Oil-Rich Areas
  • 7 days Chinese Teapots Create $5B JV To Compete With State Firms
  • 7 days Oil M&A Deals Set To Rise
  • 7 days South Sudan Tightens Oil Industry Security
  • 7 days Over 1 Million Bpd Remain Offline In Gulf Of Mexico
  • 7 days Turkmenistan To Spend $93-Billion On Oil And Gas Sector
  • 7 days Indian Hydrocarbon Projects Get $300 Billion Boost Over 10 Years
Who Are The Biggest Buyers Of U.S. Oil?

Who Are The Biggest Buyers Of U.S. Oil?

Exports of U.S. petroleum and…

Canada’s Pipeline Industry Takes Another Hit

Canada’s Pipeline Industry Takes Another Hit

Canada’s struggling oil industry has…

U.S. Asks Business Leaders To Boycott Russian Meeting

The White House is discouraging business leaders from attending an economic summit in Russia later this month. The St. Petersburg International Economic Forum runs from May 22-24, and U.S. government officials are hoping to further isolate the Kremlin for its aggressive actions in Ukraine by keeping investors and capital away from Russia.

According to several reports, White House officials made personal telephone calls to leaders of some of the biggest companies that planned on attending. Some appear to be listening. The CEO of Alcoa Inc., Klaus Kleinfeld, agreed not to attend. “In light of the U.S. government's requirements, Alcoa has adjusted its attendance at the St. Petersburg International Economic Forum,” the company said in a statement. Other companies that agreed to skip the conference include Goldman Sachs, PepsiCo, Morgan Stanley, and ConocoPhillips.

Still, some business leaders are worried about a backlash from Russian President Vladimir Putin that could affect their business interests in Russia, according to The New York Times. Several companies are sending lower-level Moscow-based executives to the event, in an effort to please both the White House and Putin. Privately, many major companies expressed frustration at the difficult position the White House is putting them in.

Related Article: Weakening Russian Energy Sector May Not Support Geopolitical Ambitions

The U.S. has also decided not to attend an energy forum that will be held in Moscow May 15 and 16. The biennial International Energy Forum, headquartered in Riyadh, Saudi Arabia, was formed following the Gulf War in the early 1990s after oil prices shot up. It is a regular meeting at the ministerial level and the 80+ member countries represent more than 90 percent of the world’s oil and gas reserves.

With violence between pro- and anti-Russian forces growing worse in eastern Ukraine, there is little hope that relations between Russia and the U.S. will improve anytime soon.

By Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News