The Latest

Global Oil Demand to Surpass Pre-COVID Levels: Report

Riyadh-based think tank KAPSARC expects oil demand in the third quarter to rise across all countries except India despite global headwinds and early signs of a looming recession. Demand in the U.S. is said to lead the way.

July 6, 2022

Kremlin Slams Japan’s ‘Unfriendly’ Stance Amid G7 Oil Price Cap Talk

Kremlin spokesman Dmitry Peskov Medvedev also said Japan “would have neither oil nor gas from Russia, as well as no participation in the Sakhalin-2 LNG project” as a result.

July 6, 2022

Mohammad Barkindo, Who Led OPEC in Turbulent Times, Dies at 63

OPEC Secretary-general Mohammad Barkindo died late July 5, hours after meeting Nigerian President Muhammadu Buhari and giving the main speech at an energy summit in Abuja.

July 6, 2022

China Oil Imports from Russia Soar, Surpass Top Supplier Saudi

The data, which shows that Russia took back the top ranking of suppliers to the world’s biggest crude oil importer—China—after a gap of five months, indicates that Moscow is able to find buyers for its oil despite western sanctions.

July 6, 2022

US Investors Form Venture to Pursue Oil and Gas Projects in Venezuela

U.S.-based Gramercy Funds Management and Atmos Global Energy said their JV would work with an arm of Inelectra Group, which holds a stake in the Gulf of Paria East oil project off Venezuela’s eastern coast.

July 6, 2022

Op-ed: America Is in Uncharted Waters Without Final Offshore Leasing Program

NOIA President Erik Milito discusses the need for policies that enable the development of domestic oil and gas supplies, promote the energy transition and strengthen national security, including a timely leasing program.

July 6, 2022

EU Parliament Backs Labelling Gas and Nuclear Investments as Green

The new rules will add gas and nuclear power plants to the EU "taxonomy" rulebook from 2023, enabling investors to label and market investments in them as green.

July 6, 2022

Russian Court Orders Halt to Caspian Oil Pipeline But Exports Still Flow

Any major disruption to the CPC would put further strain on the global oil market which is facing one of its the worst supply crunches since the Arab oil embargo in the 1970s.

July 6, 2022

What Biden and Oil Producers Can Actually Do to Lower Pump Prices

In an exclusive video interview with Hart Energy, Baker Botts’ Clint Rancher discusses steps that the Biden administration and oil and gas industry can collectively take to lower soaring gasoline prices.

July 6, 2022

Canadian Oil Regulator Charges Exxon Mobil-owned Hibernia for 2019 Oil Spill

The Canada-Newfoundland and Labrador Petroleum Board laid three charges against Hibernia for a spill that occurred in July 2019. Exxon Mobil is the biggest Hibernia shareholder with a 33% stake.

July 5, 2022