• 3 hours LNG Glut To Continue Into 2020s, IEA Says
  • 5 hours Oil Nears $52 With Record OPEC Deal Compliance
  • 9 hours Saudi Aramco CEO Affirms IPO On Track For H2 2018
  • 11 hours Canadia Ltd. Returns To Sudan For First Time Since Oil Price Crash
  • 12 hours Syrian Rebel Group Takes Over Oil Field From IS
  • 3 days PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 3 days Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 3 days Syrian Rebels Relinquish Control Of Major Gas Field
  • 3 days Schlumberger Warns Of Moderating Investment In North America
  • 3 days Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 3 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 3 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 3 days New Video Game Targets Oil Infrastructure
  • 3 days Shell Restarts Bonny Light Exports
  • 4 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 4 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 4 days British Utility Companies Brace For Major Reforms
  • 4 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 4 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 4 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 4 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 4 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 4 days Rosneft Signs $400M Deal With Kurdistan
  • 5 days Kinder Morgan Warns About Trans Mountain Delays
  • 5 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 5 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 5 days Russia, Saudis Team Up To Boost Fracking Tech
  • 5 days Conflicting News Spurs Doubt On Aramco IPO
  • 5 days Exxon Starts Production At New Refinery In Texas
  • 5 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 6 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 6 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 6 days China To Take 5% Of Rosneft’s Output In New Deal
  • 6 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 6 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 6 days VW Fails To Secure Critical Commodity For EVs
  • 6 days Enbridge Pipeline Expansion Finally Approved
  • 6 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 6 days OPEC Oil Deal Compliance Falls To 86%
  • 7 days U.S. Oil Production To Increase in November As Rig Count Falls

Breaking News:

LNG Glut To Continue Into 2020s, IEA Says

Russia Goes All In On Arctic Oil Development

Russia Goes All In On Arctic Oil Development

Fighting sanctions and low oil…

The 5 Countries That Could Push Oil Prices Up

The 5 Countries That Could Push Oil Prices Up

Geopolitical tension is largely irrelevant…

Oil Exempt In Fresh Sanctions On North Korea

North Korea

U.S. President Donald Trump announced additional sanctions on North Korea today, but the sanctions do not include crude oil.

The announcement came after word that oil would be exempt in the new round of sanctions, a senior administration official told Reuters earlier on Thursday.

“We will be putting more sanctions on North Korea,” Trump told reporters in New York, Bloomberg reported earlier today.

In the new sanctions, Trump gave the U.S. treasury the authority to target specific companies and financial institutions conducting business with the North, adding that China's Central Bank has now instructed other Chinese banks to stop doing business with the North.

At the beginning of last week, following North Korea’s nuclear test on September 2, the UN Security Council banned the supply, sale, or transfer of all condensates and natural gas liquids to North Korea, and banned Pyongyang’s exports of textiles such as fabrics and apparel products. The latest sanctions, however, do not impose a full oil embargo as the U.S. called for in recent weeks. The sanctions instead cap refined petroleum products and crude oil supply, after the U.S. dropped its demand for a full oil ban in order to avoid a Chinese veto of the UN resolution.

Last Friday, North Korea launched its second missile over Japan in one month.

In his speech to the 72nd Session of the United Nations General Assembly earlier this week, President Trump said:

“The United States has great strength and patience, but if it is forced to defend itself or its allies, we will have no choice but to totally destroy North Korea. Rocket Man is on a suicide mission for himself and for his regime.”

“It is time for North Korea to realize that the denuclearization is its only acceptable future. The United Nations Security Council recently held two unanimous 15-0 votes adopting hard-hitting resolutions against North Korea, and I want to thank China and Russia for joining the vote to impose sanctions, along with all of the other members of the Security Council…But we must do much more. It is time for all nations to work together to isolate the Kim regime until it ceases its hostile behavior,” President Trump went on to add.  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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