Data showing some US-headquartered oil and gas firms paid less in taxes to the US than to foreign governments could be a focus in an upcoming Congress tax policy debate. ExxonMobil reported paying nearly $1.2bn to the US in 2023, and $5.6bn to the UAE, according to a first-time ‘Form SD' report filed with the Securities and Exchange Commission. In its own report, Chevron says it paid nearly $1.2bn in the US, against $4bn to Australia. Independent Hess paid $190,000 in the US and $50mn to Malaysia. Industry officials say the data do not provide a comprehensive view of obligations, which can vary from country to country depending on the tax code and their operations. The payment disclosures also do not cover payroll taxes or state and local taxes, for example, and do not say if a company had carryover net operating losses or tax credits that reduced its overall tax bill in the US.
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US adds pressure on Iran after talks resume: Update
US adds pressure on Iran after talks resume: Update
Recasts, updates with secondary tariff on Iran oil. Washington, 6 February (Argus) — President Donald Trump's administration on Friday announced actions aimed to add economic pressure on Iran after another round of US-Iran nuclear talks concluded in Oman without much progress. An executive order by Trump, released by the White House Friday afternoon, pledges to impose additional tariffs on US imports from countries engaged in business with Iran. The penalty is not automatic and is not set at a specific amount — it could be "for example 25pc", the order states. The US administration will determine whether any country continues to engage in business with Iran after 7 February and will then decide whether to apply the additional tariff, according to the order. US presidential envoy Steve Witkoff and Iran's foreign minister Abbas Araqchi met in Muscat, Oman, on Friday and the two governments plan to hold additional meetings at a future date, according to the host country's foreign minister, Badr Albusaidi. Araqchi told Iranian reporters that he held firm to discussing only the nuclear portfolio — rather than also addressing Iran's missile program and other issues raised by the US. Araqchi said that he asserted "the rights that the Iranian people have", which is likely a reference to Tehran's demand to continue to have nuclear enrichment capacity. The US administration is eyeing permanent curbs on Iran's nuclear program. Also on Friday, the US Treasury Department announced sanctions on 14 additional tankers allegedly linked to a network transporting Iranian crude and LPG. Whether the negotiations will avert another round of US strikes against Iran remains to be seen. Diplomats from the two countries last engaged in talks in April-June 2025, before Trump ordered a bombing raid against nuclear facilities in Iran. The new tanker sanctions were announced shortly after the talks concluded in Muscat. The pattern of combining diplomacy and sanctions pressure continues the tactic deployed by Trump's administration during the previous round of US-Iran talks. Friday's sanctions also include 15 entities and individuals allegedly tied to the Iranian oil trade. The one major difference from last year's sanctions approach is a lack of enforcement against China-based entities involved in trading Iranian crude. Iranian crude cargoes mostly are delivered to buyers in China via a network of intermediaries and shadow fleet tankers and involve ship-to-ship transfers in international waters near Malaysia and Indonesia. The US is finding it difficult to fully enforce sanctions against Iranian crude because of Tehran's ability to retaliate, US secretary of state Marco Rubio said on 28 January. Trump, who had ordered a US naval buildup in the Middle East, threatened military strikes against Iran, but also expressed a willingness to negotiate with Tehran. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Algeria’s Saharan Blend export disruptions to continue
Algeria’s Saharan Blend export disruptions to continue
London, 6 February (Argus) — Algeria's state-owned Sonatrach expects weather-related disruptions to its Saharan Blend crude exports to continue in February, a source at the firm told Argus . Algeria's crude exports — made up entirely of the light sweet Saharan Blend — fell to a multi-year low of 201,000 b/d in January as bad weather delayed loadings, the source said. Argus estimates exports at 476,000 b/d in December. Spot prices for Saharan Blend rose to a $2/bl premium to North Sea Dated in mid-January, when European refiners — particularly in the Mediterranean — were seeking alternatives to light sour CPC Blend. But with Europe approaching spring refinery maintenance and CPC Blend exports picking up again , Saharan Blend has eased by 70¢/bl to a $1.30/bl premium to Dated. The Algerian grade, which trades on a fob basis, is also under pressure from rising freight rates. The cost of shipping an Aframax-sized cargo of Saharan Blend across the Mediterranean and to northwest Europe has averaged around 40pc higher in the second half of January into early February, compared with the first half of January. Sonatrach raised the official February formula price for Saharan Blend to a $2.50/bl premium to Dated, up by $1.50/bl from January and the highest since December 2022. The company typically circulates its retroactive official price after clearing most of its own supplies. By Aydin Calik and Lina Bulyk Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia’s Pilbara shuts LNG, iron ore ports on storm
Australia’s Pilbara shuts LNG, iron ore ports on storm
Sydney, 6 February (Argus) — Australian port authority Pilbara Ports will clear all berths at the Ports of Ashburton, Cape Preston West, Dampier, and Varanus Island by 4pm local time (8am GMT) on 6 February, while Port Hedland will be closed by 9.30pm local time, it said today. Pilbara Ports will move ships out of the ports, which handle LNG and iron ore exports, because of the fast-developing Tropical Low 21U storm, it added. The port authority moved the export hubs into Cyclone Alert 2 earlier this week, market participants told Argus on 5 February. Tropical Low 21U is currently hovering off the coast of Western Australia's (WA) Kimberley region, according to the Australian Bureau of Meteorology (BoM). It is likely to develop into a cyclone by 8am local time on 7 February, as it moves south towards WA's iron ore-rich Pilbara region, BoM forecasts show. The weather system may pass close to Dampier early on 8 February. Producers shipped 1.4mn t of LNG out of Dampier port in December, down by 12pc on the year, and 15mn t of iron ore , up by 9pc on the year. Pilbara Ports' other export hubs handled 52mn t of iron ore in December. WA ports have faced weather disruptions before. Four cyclones lashed Pilbara in January-February 2025, pushing down producer BHP and Rio Tinto's WA iron ore sales in the first quarter of 2025. Cyclone Sean flooded a railcar dumper at Rio Tinto's East Intercourse Island (EEI) facility at Dampier on 20 January 2025, halting loadings at the site until early March. But Rio Tinto continued to move ore out of other WA facilities over that period. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Sydney Airport passenger traffic rises 3pc in 2025
Sydney Airport passenger traffic rises 3pc in 2025
Sydney, 6 February (Argus) — Australia's busiest airport recorded higher passenger transit in 2025 on increased international activity, Sydney airport data released 4 February show. October-December transits of 11.41mn passengers were by 4pc up on the year, driven by a 6pc rise in international travellers. Last year was Sydney's busiest ever for international travel with 17.17mn passengers passing through gates. But the 25.36mn domestic passengers was still down from pre-Covid levels of 27.5mn in 2019. And total passenger numbers in 2025 were 4pc below 2019 figures. Passenger traffic at Australia's Melbourne Airport — the nation's second-busiest — rose by 7pc on the year in 2024 to 35.75mn, but this was 5pc below 2019's 37.45mn. National jet fuel sales leapt 8pc in the first 11 months of 2025 to 172,000 b/d, with November the latest month for which data from Australian Petroleum Statistics are available. The figure was just 160,000 b/d in January-November 2024. Jet fuel sales in New South Wales state, where Sydney airport is located, averaged 57,000 b/d in January-November last year, up from 55,000 b/d in the first 11 months of 2024. By Tom Major Sydney Airport passenger traffic Oct-Dec '25 Jul-Sep '25 Oct-Dec '24 2025 2024 2019 q-o-q % ± y-o-y % ± 2025 vs 2024 % ± Total 11.41 10.68 11 42.54 41.4 44.4 7 4 3 International 4.62 4.28 4.4 17.17 16.3 16.9 9 6 5 Domestic 6.79 6.4 6.7 25.36 25.1 27.5 6 2 1 Source: Sydney Airport Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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