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Mark Felix | Afp | Getty ImagesHOUSTON — The crisis in the Red Sea could lead to a shortage in the global tanker fleet if disruptions persist for another six months, the CEO of Kuwait Petroleum Corporation told CNBC. Houthi militants have been striking commercial shipping in the Red Sea since November in support of Palestinians as Israel wages war in Gaza. The company is continuing to ship through the Red Sea and is making decisions on which route ships should take on a daily basis, he said. "We maintain a strategic tanker tanker fleet for these types of reasons," al-Sabah said. Wirth told CNBC that Chevron is "not moving ships to the Red Sea."
Persons: Shaikh Nawaf Al, Mark Felix, Shaikh Nawaf, KPC, Saddam Hussein's, Michael Wirth, Wirth, CNBC's Brian Sullivan Organizations: Kuwait Petroleum Corporation, Afp, Getty, HOUSTON, CNBC, Houthi, Global, Chevron Locations: Sabah, Houston , Texas, Red, Israel, Gaza, Africa, al, Al, Persian, Kuwait, Iraq, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Venture Global LNG's Michael SabelCNBC's Brian Sullivan interviews Michael Sabel, Executive Co-Chairman and Founder of Venture Global LNG, from the CERAWeek conference in Houston, Texas.
Persons: Michael Sabel CNBC's Brian Sullivan, Michael Sabel Organizations: Venture, Venture Global Locations: Houston , Texas
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLNG pause adds 'uncertainty' to the industry, says Cheniere CEO Jack FuscoCNBC's Brian Sullivan interviews Cheniere President and CEO Jack Fusco, from the CERAWeek conference in Houston, Texas.
Persons: Jack Fusco CNBC's Brian Sullivan, Jack Fusco Locations: Houston , Texas
Shell CEO on LNG pause: Can cause long-term market uncertainty
  + stars: | 2024-03-18 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShell CEO on LNG pause: Can cause long-term market uncertaintyShell CEO Wael Sawan joins 'The Exchange' with CNBC's Brian Sullivan to discuss potential intersections between natural gas and AI, demand for liquified natural gas, and more.
Persons: Wael Sawan, CNBC's Brian Sullivan Organizations: Email Shell
Watch CNBC's full interview with Nextera CEO John Ketchum
  + stars: | 2024-03-18 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Nextera CEO John KetchumCNBC's Brian Sullivan interviews Nextera Chairman and CEO John Ketchum from the CERAWeek conference in Houston, Texas.
Persons: John Ketchum CNBC's Brian Sullivan, John Ketchum Locations: Houston , Texas
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmos Hochstein: U.S. will be 'most dominant LNG exporter this world has ever seen'CNBC's Brian Sullivan interviews Amos Hochstein, Senior Advisor to President Biden, from the CERAWeek conference in Houston, Texas.
Persons: Amos Hochstein, Brian Sullivan, Biden Locations: Houston , Texas
Watch CNBC's full interview with Dow CEO Jim Fitterling
  + stars: | 2024-03-18 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Dow CEO Jim FitterlingCNBC's Brian Sullivan interviews Jim Fitterling, Dow CEO, from the CERAWeek conference in Houston, Texas.
Persons: Jim Fitterling CNBC's Brian Sullivan, Jim Fitterling Organizations: Dow Locations: Houston , Texas
Sen. Joe Manchin: White House's LNG pause is 'crazy'
  + stars: | 2024-03-18 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSen. Joe Manchin: White House's LNG pause is 'crazy'CNBC's Brian Sullivan interviews West Virginia Senator Joe Manchin from the CERAWeek conference in Houston, Texas.
Persons: Email Sen, Joe Manchin, Brian Sullivan Organizations: Email, West Locations: West Virginia, Houston , Texas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestments that are good for both the climate & economy completely overlap: Guggenheim's SchwartzCNBC's Brian Sullivan interviews Alan Schwartz, Guggenheim Partners, from the CERAWeek conference in Houston, Texas.
Persons: Guggenheim's Schwartz, Brian Sullivan, Alan Schwartz Organizations: Investments, Guggenheim Partners Locations: Houston , Texas
It's a story increasingly familiar in the energy industry: Some utility companies don't properly assess the risks wildfires pose to their operations. The primary purpose is to prevent power lines from igniting a wildfire during periods of high fire danger. The lawsuit also alleges the company "inexcusably kept their power lines energized during the forecasted high-fire danger conditions." A PG&E utility worker locates a gas main line in the rubble of a home burned down by wildfire in Paradise, California, Nov. 13, 2018. Several of those agencies track statewide wildfire information, but most did not keep track of the names of utility companies associated with wildfire incidents.
Persons: Michelle Glogovac, Glogovac, Laurie Allen, Brent Jones, Allen, Jones, inexcusably, Michael Wara, Shelee Kimura, Yuki Iwamura, David Pomerantz, Pomerantz, Patti Poppe, It's, JOSH EDELSON, Warren Buffett's, Stanford's, CNBC's Brian Sullivan, David Paul Morris, Institute's Pomerantz, Tama Organizations: CNBC, Electric, Energy, Stanford University, Hawaiian Electric, AFP, Getty, Policy, Policy Institute, NV Energy, Warren Buffett's Berkshire Hathaway Energy, Bloomberg, Getty Images Locations: Paradise , California, Lahaina , Hawaii, Hawaii, Maui, Maui County, Lahaina, California, Nevada, Warren, — Arizona, California , Colorado, Hawaii , Montana , Nevada , New Mexico , Oregon , Utah, Washington, Arizona , New Mexico, Utah
Supply is forecast to grow by 1.5 million barrels per day to a new high of 103.5 million barrels per day, according to the IEA. Demand will grow by 1.2 million barrels daily, down from 2.3 million in 2023, with the post-pandemic recovery over and major economies set to slow. WTI and Brent closed out 2023 down more than 10% and OPEC+ production cuts have so far failed to lift prices. Goldman Sachs, for example, says oil prices could double if there is a prolonged disruption to shipments through the Strait of Hormuz. 'Golden era' Stronger U.S. oil production in 2023 surprised even oil industry CEOs such as Chevron's Wirth and Occidental's Vicki Hollub, they told CNBC in recent interviews.
Persons: Michael Wirth, Wirth, CNBC's Brian Sullivan, Goldman Sachs, Walt Chancellor, Daniel Yergin, Brent, Adi Imsirovic, Imsirovic, Yergin, Bob Yawger, Yawger, Matt Smith, Smith, Chevron's Wirth, Occidental's Vicki Hollub, I'm, Macquarie, Chancellor, Hollub, Organizations: P, Energy Information Agency, Chevron, P Global, CNBC, Economic, West Texas, Center for Strategic, International Studies, OPEC, Bank of America, Oil, International Energy Agency, IEA, Brent, Mizuho, Gulf, Americas, Western Hemisphere Locations: East, U.S, Macquarie, Davos, Switzerland, Canada, United States, United Kingdom, OPEC, Brazil, Guyana, Americas, Europe, Red, Kpler, Iran, Hormuz
Shipping can be rerouted away from the Red Sea, but crude would be essentially trapped if the strait is shut down, Struyven said. A prolonged disruption in the strait could eventually double oil prices, he said. McNally thinks the market should be factoring in a $12 geopolitical risk premium in oil prices right now. Wirth told CNBC's Sullivan that Chevron is currently working with the U.S. Navy to protect its vessels transiting the Red Sea. "Hopefully, if it doesn't escalate further, we'll be OK — even if there has to be a wholesale diversion of shipments around the Red Sea," Granholm said.
Persons: you've, Daan Struyven, Goldman Sachs, CNBC's Brian Sullivan, Struyven, Bob McNally, McNally, Bush, Antony Blinken, Daniel Yergin, Yergin, Michael Wirth, Tehran's, Wirth, CNBC's Sullivan, Joe Biden's, Jennifer Granholm, Granholm, Israel, Benny Gantz, Gantz, Biden's, Bob Yawger, Yawger, Brent Organizations: Shipping, Rapidan Energy Group, National Security Council, P Global, Brent, Chevron, U.S . Navy, NBC News . Energy, Mizuho, Energy Information Agency, Gulf Locations: Red, Iran, Hormuz, Persian, Israel, Strait, Yemen, Danish, U.S, Lebanon, Beirut, Lebanese, Islamic Republic, The U.S, Europe, South Africa, United States, East
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChevron CEO Mike Wirth on oil prices: Risks remain more to the upside than to the downsideCNBC's Brian Sullivan sat down with Chevron CEO Mike Wirth to discuss the reasoning behind the rising oil price. Watch the full interview with Wirth tonight at 7 p.m. (ET) on Last Call.
Persons: Mike Wirth, Brian Sullivan, Wirth Organizations: Chevron
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRon DeSantis on Fed chair Powell: I don't think he's done a good jobCNBC's Brian Sullivan joins 'The Exchange' to discuss his exclusive interview with Republican presidential candidate Florida Gov. Ron DeSantis.
Persons: Ron DeSantis, Powell, CNBC's Brian Sullivan Organizations: Republican, Gov
DeSantis says he would ban TikTok because of China threat
  + stars: | 2023-08-14 | by ( Ari Levy | ) www.cnbc.com   time to read: +1 min
Ron DeSantis told CNBC that he would likely ban TikTok if given the opportunity because the social media app is owned by a Chinese company. DeSantis, who trails Donald Trump in the race to become the 2024 Republican presidential nominee, was broadly critical of U.S. policy toward China in the interview. "There's a reason why stuff has been outsourced to China, because it can be done cheaper and people can make more money," DeSantis said. More recently, Congress introduced new bills earlier this year that would allow the Biden administration to ban TikTok. DeSantis referred to the bills as "too heavy-handed," claiming they would "invade peoples' privacy," but he said he would still probably support a ban.
Persons: Ron DeSantis, DeSantis, CNBC's Brian Sullivan, Donald Trump, TikTok, Trump, Biden, They've Organizations: Florida Gov, CNBC, Republican Locations: Florida, China, U.S, Washington, United States
DeSantis to Disney: Drop the lawsuit, let's move forward
  + stars: | 2023-08-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeSantis to Disney: Drop the lawsuit, let's move forwardCNBC's Brian Sullivan reports on news from a conversation with 2024 Presidential candidate and Florida Gov. Ron DeSantis.
Persons: let's, CNBC's Brian Sullivan, Ron DeSantis Organizations: Disney, Florida Gov
Crude rally fizzles after OPEC production cuts
  + stars: | 2023-06-05 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrude rally fizzles after OPEC production cutsCNBC's Brian Sullivan joins 'The Exchange' to discuss Saudi Arabia announcing increased its voluntary production cuts, the impact OPEC's production change will have on crude oil prices, and the timeline for Saudi energy cuts.
Persons: Brian Sullivan Locations: Saudi Arabia, Saudi
CNBC's Brian Sullivan interviews a deepfake version of himself
  + stars: | 2023-04-21 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC's Brian Sullivan interviews a deepfake version of himselfCNBC's Brian Sullivan interviews a generative A.I version of himself, created by Forever Voices. Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
New California bill attempts to reign in energy prices
  + stars: | 2023-03-24 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew California bill attempts to reign in energy pricesJamie Court, Consumer Watchdog president, joins CNBC's Brian Sullivan and 'Last Call' to discuss a new California proposal to create an agency that would reign in big oil profits.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNYC transit system may try to fill budget gaps with tax on streaming servicesThe Wall Street Journal's Jimmy Vielkind joins CNBC's Brian Sullivan and 'Last Call' to discuss the possibility a tax on streaming services could be used to help fund the New York City transit system.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe bond market is signaling concern over the economy, says The New York Times' Joe RennisonBen White of Politico, The New York Times' Joe Rennison and former acting chairman of the Council of Economic Advisors Tyler Goodspeed, join CNBC's Brian Sullivan and 'Last Call' to discuss money being pulled from U.S. banks and whether Deutsche Bank is in trouble.
NATO takes steps to defend Norwegian oil fields from Russia
  + stars: | 2023-03-24 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNATO takes steps to defend Norwegian oil fields from RussiaNBC's Tom Costello joins CNBC's Brian Sullivan and 'Last Call' to discuss NATO's move to add warships to defend critical oil and gas fields off Norway from a potential Russian naval attack.
N.H. Gov. Chris Sununu says TikTok should not be banned
  + stars: | 2023-03-21 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailN.H. Gov. Chris Sununu says TikTok should not be bannedNew Hampshire Governor Chris Sununu (R-N.H.) joins CNBC's Brian Sullivan and 'Last Call' to discuss whether the government should actually ban the TikTok app.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDominion has a very strong case against Fox, says Semafor's Ben SmithSemafor's Ben Smith joins CNBC's Brian Sullivan and 'Last Call' to discuss the $1.6B Dominion lawsuit against Fox over 2020 election claims.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed doesn't want to be in a position where people are asking about rate cuts, says WSJ's TimiraosWSJ Reporter Nick Timiraos joins CNBC's Brian Sullivan and 'Last Call' to discuss whether the Fed should continue raising rates, even during a banking crisis.
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