Libya boosted oil production to more than 1 million barrels a day, a milestone for the North African country where output had more than halved since mid-April. SourceContinue Reading
The European Union’s drive to slash reliance on Russian natural gas is boosting the strategic importance of finds in Cyprus, the country’s energy minister said. SourceContinue Reading
The nation’s shipments to buyers have declined for five consecutive weeks, taking them down by 480,000 barrels a day, or 13%, since mid-June. That’s based on a rolling four-week average that helps to provide a better picture of the trend than the observation of flows from one week to the next. SourceContinue Reading
Oil tankers that previously carried Iranian oil are switching to haul Russian crude, according to shipping analytics company Vortexa. SourceContinue Reading
Schlumberger said annual sales will rise the most in 11 years as concern over inadequate energy supplies outweighs recessionary fears among major oil explorers. SourceContinue Reading
Russia’s President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman discussed continued cooperation within OPEC+ in a phone call, according to a statement from the Kremlin. SourceContinue Reading
As the White House and Congress weigh policy levers to provide relief to consumers from rising gas prices, a proposed ban on petroleum exports has become part of the discussion. A new study indicates that could lead to U.S. gross domestic product falling more than $44 billion in 2023 and more than 110,000 jobs would...Continue Reading
The British government needs to publish detailed plans on decarbonizing the economy if it wants to prevent a “disorderly” transition to net-zero emissions by 2050, members of Parliament’s upper chamber said Thursday. SourceContinue Reading
The Biden administration’s plan to crack down on smog in the oil-rich Permian Basin threatens to curb crude production while gasoline prices are near record highs and energy scarcity grips the globe, the industry warned Thursday. SourceContinue Reading
