While Putin said his preference was to adhere to the current plan, his comments are a show of unity between Russia and Saudi Arabia, whose leaders have been engaged in intense telephone diplomacy this month. SourceContinue Reading

Energy Secretary Dario Martinez said spending on subsidies is still better than the alternative of buying LNG cargoes, despite low current prices. “We’ve done the analysis and we really benefit from doing this,” Martinez told reporters in Buenos Aires Wednesday. SourceContinue Reading

Biden’s plans would have uneven impacts within the oil and gas sector, particularly hurting companies with significant investments on federal land. Other producers, such as Pioneer Natural Resources Co. and Hamm’s Continental Resources, which do not have federal oil leases, might see their holdings swell in value. SourceContinue Reading

The American Petroleum Institute corrected the record on discussions about a fracking ban, implementing a carbon-free power sector by 2035, replacing natural gas and oil jobs with clean energy jobs, and policies to reduce CO2 emissions. SourceContinue Reading

“The 5+5 Joint Military Commission talks in Geneva today culminated in a historic achievement where Libyan parties reached a permanent ceasefire agreement,” according to a statement by the UN Support Mission in Libya. “This achievement marks an important turning point towards achieving peace and stability in Libya.” SourceContinue Reading

BP is weighing a sale of its majority stake in the Constellation oilfield in the Gulf of Mexico, according to people familiar with the matter, as it pushes ahead with a divestment program. SourceContinue Reading

The labor market data brings about the idea that “people are going back to work even with some renewed lockdowns,” said Michael Lynch, president of Strategic Energy and Economic Research. “People are coping more without shutting down businesses, which could mean more oil demand in the short-term.” SourceContinue Reading

The project includes the development of four new LNG mega-trains as well as associated facilities, and the production starting in 2025 will support the continued economic growth in Qatar. SourceContinue Reading

Once touted as a bridge fuel to smooth the transition away from coal, gas increasingly is being targeted by environmental pressure groups and governments for its contribution to greenhouse gases. SourceContinue Reading

Oil sands producers will benefit from less output of competing crude from Latin America as Pemex expects to cut exports while Venezuelan supplies remain off limits due to U.S. sanctions. SourceContinue Reading