China Energy Giants in Talks for Shell’s Russian Gas Stake
China’s key state-run energy companies are in talks with Shell Plc to buy its stake in a major Russian gas export project, according to people with knowledge of the matter. Continue Reading
U.S. West Coast Imports More Gasoline Ahead Of Driving Season
The U.S. West Coast is expected to import 120,000 barrels per day of gasoline and blending components for the remainder of this month, up from 95,000 bpd in the first Continue Reading
EIA: U.S. Crude Production Doubled Since 2010 Because Of Horizontal Wells
81 percent of completed wells in the oil and gas industry were horizontal or directional in 2021. The number of completed oil and gas wells fell by 66 percent between Continue Reading
Russia’s Oil Production Has Dropped By 10% Since The Start Of The War In Ukraine
OilX data suggests that Russian production has declined by 10% since the start of the Ukraine War. IEA: Russian oil supply is expected to fall by 1.5 million bpd in Continue Reading
Russian oil exports resilient to sanctions, boycotts for now as trade routes adjust
Seaborne product exports hit most but crude flows little changed India buys more crude while China flows hold steady Diesel imports surge to the Netherlands’ oil refining/storage hub Russia’s seaborne Continue Reading
It’s Getting Increasingly Expensive To Boost U.S. Oil Production
U.S. shale producers have exercised astonishing capital discipline in recent years. Despite calls on U.S. oil firms to ramp up production, many producers are being plagued by rising costs and Continue Reading
Germany Pledges To Halt All Russian Oil Imports By End Of Year
In Germany’s most definitive statement yet regarding Russian oil and gas imports, the German Foreign Minister has pledged that the country will cease importing Russian oil entirely by the end Continue Reading
EU In Talks With Alternative Suppliers As It Considers A Russian Oil Ban
The European Commission has been considering an embargo on Russian oil. It’s not clear yet when the sixth package would be proposed by the European Commission. EU in talks with Continue Reading
U.S. Oil Production Climbs Despite Cautious Drillers
As calls for new oil supply around the world grow louder, U.S. shale production is climbing slowly as producers refuse to throw caution to the wind. Drilled but uncompleted wells, Continue Reading
Russian Crude Shipments Shrink 25% in Just One Week
Seaborne flows of Russian crude oil declined by a quarter in the seven days to April 15. Volumes heading to Asia from ports on the Black Sea, Baltic and Arctic Continue Reading