The Latest

Crude Oil

OPEC Oil Output Hits 15-month High, Survey Shows

Saudi Arabia delivered the biggest increase in July of 460,000 bbl/d of oil, as it further unwound its voluntary cut and raised output as part of the July 1 OPEC+ boost.

August 2, 2021

Trade

US Says Seizes Oil Tanker Used to Evade North Korea Sanctions

A DOJ statement said the M/T Courageous was seized by Cambodian authorities in accordance with a U.S. warrant, having been used to transfer oil products to North Korean vessels.

August 2, 2021

Liquefied Natural Gas (LNG)

Poland’s PGNiG Terminates LNG Deal over Delayed Texas Project

PGNiG, Poland’s biggest gas company, signed a 20-year agreement for LNG supples with Sempra in 2018, as part of its bigger plan to cut reliance on gas imports from Russia.

July 30, 2021

Private Equity

Brookfield Asset Management Closes $7 Billion ‘Global Transition’ Fund

The fund, named Brookfield Global Transition Fund, is supported by founding investment partners, Ontario Teachers’ Pension Plan Board and Temasek, which both pledged major commitments.

July 28, 2021

Public Capital

FERC to Hear Total Alleged Natural Gas Manipulation Case by 2022

FERC was hoping for an earlier hearing on the case against Total, but the administrative law judge in an order on July 27 said the “complexity of this matter” requires a longer timetable.

July 28, 2021

Public Capital

Shell to Acquire US-based Renewable Energy Residential Retailer

The acquisition of Inspire Energy, a renewable energy residential retailer with joint headquarters in Santa Monica and Philadelphia, advances Shell’s strategy to build and scale renewable and low-carbon businesses, the European supermajor said.

July 27, 2021

Exploration & Production

Review of Federal Oil, Gas Leasing Program Nearing Completion: Haaland

The Biden administration earlier this year stopped holding federal oil and gas lease sales, pending the review, but a federal judge last month ruled that his leasing freeze was unlawful.

July 27, 2021

Investment

Iraq Wants American Firm to Replace Exxon, Prime Minister Says

Iraq's Prime Minister Mustafa al-Kadhimi said on July 26 he wants another American company to replace Exxon Mobil Corp. when it exits Iraq.

July 27, 2021

Public Capital

Cenovus Energy Signs Solar Offtake Deal in Net-zero Push

Cenovus signed a 15-year power purchase agreement for the full output of a solar facility in southern Alberta, providing the offtake contract necessary for the construction of the project and ultimately helping Cenovus mitigate its scope 2 emissions.

July 26, 2021

Public Capital

What’s Driving Some to Consider a Permian Basin Exit

Analysts share insight on the oil and gas industry’s response to climate concerns and the future of fracking that has led some, like Shell, to consider withdrawing from the Permian Basin plus what opportunities remain for those choosing to stay.

July 26, 2021