Saudi Arabia, UAE may pick up the slack of other OPEC+ members Iranian nuclear agreement and oil deal are unlikely this year the US may turn a further blind eye Continue Reading
Oman seeking to maintain or boost oil output It has 5.2 billion in oil reserves, 24 Tcf of gas reserves Oman, Iran forming technical team for gas pipeline project Oman Continue Reading
Argentina has launched a tender process to build a new gas pipeline out of its huge Vaca Muerta shale formation that is expected to increase current transport capacity by 25%, Continue Reading
U.S. gasoline prices continue to set new record-highs day after day. Everything that the Biden Administration has done thus far has failed to curb rising prices. Experts believe that high Continue Reading
The Petro Travel Center on Interstate 10 in Ontario, Calif., is one of scores across the country. At the front of the building are the things road trippers see when Continue Reading
Fed Beige Book Shows Growth Slowing in Some Areas Record inflation in the euro zone is seen fueling the European Central Bank’s tightening debate at this coming week’s policy meeting, Continue Reading
Russian litigants fighting cases in London’s High Court are being forced to find new representation as the biggest UK-based law firms are increasingly refusing to act for them in the Continue Reading
Russian Foreign Minister Sergei Lavrov on Saturday said Western sanctions would have no effect on the country’s oil exports and predicted a big jump in profits from energy shipments this Continue Reading
Ukraine’s state-run nuclear power operator Energoatom said a Russian cruise missile few “critically low” on Sunday morning over a major nuclear power plant. “It’s probable that was the missile that Continue Reading
France is in talks with the United Arab Emirates to replace Russian oil purchases, which will stop after the imposition of a European Union ban on Russian crude, Finance Minister Continue Reading
Russians are seeing two versions of the war in Ukraine through one of the biggest platforms for news in the country, the social media and chat app Telegram . One Continue Reading
The week has seen quite a lot of turmoil in oil markets. With China finally coming out of its three-month lockdown nightmare, oil prices were moved by reports that Saudi Continue Reading
Output increase in July, August 50% higher than recent hikes It’s very unlikely the group will meet these targets, ING says Goldman’s Currie: OPEC+ Output Hike a Minimal’ Boost to Continue Reading
Since Monday, the national average for a gallon of regular gasoline has increased by nine cents to $4.71. According to new data from the Energy Information Administration (EIA), total domestic Continue Reading
Global food prices dipped 0.6% in May for the second consecutive month after reaching a record high in March, the UN’s Food and Agriculture Organization said in a report June Continue Reading
The U.S. Environmental Protection Agency on Friday issued biofuel blending mandates for 2022 and the prior two years – with this year’s number below one proposed in December – while Continue Reading
Iranian Supreme Leader Ayatollah Ali Khamenei on Saturday blamed recent protests in Iran on foreign “enemies” seeking to overthrow the government in the Islamic Republic. Also, he said, enemies were Continue Reading
Israel is ready to use its “right to self-defense” to prevent Iran from building nuclear weapons. Israeli Prime Minister Naftali Bennett “expressed Israel’s deep concern regarding Iran’s continued progress toward Continue Reading
Kazakhstan is changing the name of the oil it exports via Russian seaports to Kazakhstan Export Blend Crude Oil (KEBCO) to dissociate it from oil originating in Russia in order Continue Reading
Bucking political headwinds, oil and gas companies are dropping federal leases in the Arctic National Wildlife Refuge, but the state of Alaska is holding firm on seven leases held by Continue Reading
On May 24, 2022 Swiss oil trading giant Glencore admitted to American justice that it had paid nearly one hundred million dollars in bribes to officials and public agents in Continue Reading
Canadian heavy crude prices have collapsed as the European war upends global market flows and makes oil sands crude less valuable. Western Canadian Select’s discount to benchmark West Texas Intermediate Continue Reading
At Rivian RIVN -5.48%▼ Automotive Inc.’s factory in Normal, Ill., life is anything but. Car factories around the world routinely churn out models around the clock. About eight months after production on Rivian’s electric Continue Reading
Retailers including Walmart have reported that some shoppers are beginning to curtail spending. Over the past week, business leaders have laid out in the starkest terms yet that a period Continue Reading
American employers extended an impressive run of hiring in May, even as policymakers took steps to cool the economy in an effort to ease high inflation. The Labor Department reported Continue Reading
June 3 (Reuters) – The U.S. Environmental Protection Agency on Friday issued biofuel blending mandates for 2022 and the prior two years – with this year’s number below one proposed Continue Reading
US Employers Added More Jobs Than Expected in May Growth at US service providers moderated in May to the softest pace in over a year, reflecting a pullback in a Continue Reading
BlackRock’s Rieder: May Jobs Report ‘Last Solid One’ for a While Corporate America is ratcheting up its warnings about the US economy. Executives from Jamie Dimon and Elon Musk to Continue Reading
The power grid in the Central United States could be forced to impose rotating blackouts on some of the hottest days of the summer due to rising demand and plant Continue Reading
Ukraine has signed a deal for the U.S. nuclear power company Westinghouse to supply fuel to all of its atomic power stations in an effort to end the country’s reliance Continue Reading
OPEC+ is working on making up for a drop in Russian oil output, two OPEC+ sources said on Thursday, as Russia’s production has fallen by around 1 million barrels per Continue Reading
Ukraine said it had recaptured a chunk of the factory city of Sievierodonetsk, the focus of a Russian offensive to take the eastern Donbas region, and could hold it for Continue Reading
Oleksandr Kubrakov, Ukraine’s infrastructure minister, told the Financial Times that “all of our activity won’t cover even 20 per cent of what we could do through the Black Sea ports”. Continue Reading
Vladimir Efimov, a local politician on the Kamchatka Peninsula in Russia’s Far East, was charged with “discrediting the army” and ordered to pay a $500 fine three times in recent Continue Reading
Ukraine — First came the distant bang of Russian artillery firing. Then the ominous whistle and crackle of incoming shells, which landed within 50 feet of a Ukrainian tank position, Continue Reading
Russia’s Finance Ministry expects $6.37 billion in additional oil revenue in June. Russian oil exports haven’t fallen off a cliff, while it continues to sell natural gas to most of Continue Reading
Output increase in July, August 50% higher than recent hikes It’s very unlikely the group will meet these targets, ING says Goldman’s Currie: OPEC+ Output Hike a Minimal’ Boost to Continue Reading
The supply crisis on the East Coast is growing worse, raising the specter of fuel rationing just as the US enters what is typically the heaviest time of year for Continue Reading
This post examines the recent changes in the costs of powering gasoline, diesel, and electric vehicles. The expectation was that the cost of electricity had recently increased much less than Continue Reading
Opec and its allies on Thursday agreed to accelerate oil production in July and August, as the cartel’s linchpin Saudi Arabia bowed to US pressure to cool a crude price Continue Reading
After months of ignoring oil consumers’ calls to turn on the taps, OPEC+ has finally agreed to step up production targets. But the real winner of the deal appears to Continue Reading
President Biden, who as a candidate vowed to make Saudi Arabia a “pariah” in response to the assassination of a prominent dissident, has decided to travel to Riyadh this month to rebuild Continue Reading
Iraq’s Oil Ministry is initiating legal action against international oil companies operating in the Kurdistan region — part of an escalating effort to implement the Federal Supreme Court’s landmark decision to invalidate Continue Reading
Gulf oil economies suffered through the last oil price crash, issuing record levels of debt in 2020. Now, with oil prices well above $100 and set to stay there for Continue Reading
Low crude oil production means Nigeria is barely able to cover the cost of imported petrol from its oil and gas revenue, Finance Minister Zainab Ahmed told Reuters on Thursday. Continue Reading
Oil theft Lagos — The oil and gas sector, for years the main revenue generator in Africa’s largest economy, is the sole under-performer in Nigeria’s economic recovery. The monthly economic Continue Reading
Few options to immediately increase Azerbaijan’s oil output Transit of non-Azeri crude via BTC pipeline growing Crude production is far below its OPEC+ quota Azerbaijan is benefiting from the EU’s Continue Reading
Pakistan’s foreign exchange reserves fell below $10 billion, threatening to spillover into a fullblown economic crisis unless policy makers secure a loan from the International Monetary Fund. The stockpile decreased Continue Reading
India’s dominant services sector expanded at the fastest pace in 11 years in May on strong demand, although inflationary pressures touched new highs, restricting optimism and weighing on consumers’ pocketbooks, Continue Reading
India reported 4,041 new Covid-19 infections on Friday — the highest single-day jump since March 11 — stoking fears of another wave building up in some parts of the densely-populated Continue Reading
