International
Markets , Policy & Regulations , International
OPEC+ Agrees Oil Output Increase from February
OPEC+ is unwinding record production cuts of 10 million bbl/d, which were imposed in 2020, as demand and prices recover from their pandemic-induced slump.
Crude Oil , Trade , International
OPEC+ Report Sees Short-lived, Mild Impact from Omicron Variant
“The impact of the new Omicron variant is expected to be mild and short-lived, as the world becomes better equipped to manage COVID-19 and its related challenges,” the OPEC+ report said.
Crude Oil , International
OPEC+ Prioritizing Medium-term Strategy Over US Calls for More Oil, Russia Says
OPEC+ Prioritizing Medium-term Strategy Over US Calls for More Oil
Crude Oil , Trade , International
Iran Oil Exports Focus of Vienna Nuclear Talks, Top Iranian Diplomat Says
In 2018, then U.S. President Donald Trump reimposed stringent economic sanctions against Tehran.
Liquefied Natural Gas (LNG) , Trade , International , Midstream
US-based Venture Global Signs Supply Deal with China’s Largest LNG Importer
Ventura Global’s agreement marks the first LNG supply agreement signed by a U.S. exporter with CNOOC, China’s largest importer of LNG.
Investment , Legislation , International , Emissions
EU Lays Out Rules to Allow More State Aid for Green Projects
Support for fossil fuels such as coal and oil is unlikely to be approved, while new investments in natural gas must be compatible with the EU’s climate targets, the Commission said.
Natural Gas , Trade , International , Pipelines
Gas Prices Surge in Europe as Russia’s Yamal Pipeline Exports Fall
“The renewed drop in flows to northwest Europe along one of three main pipelines coincides with both the start of linepacking of string 2 of Nord Stream 2, as well as unseasonably cold weather in Russia,” ICIS analysts said.
Legislation , International , Pipelines
Cruz Secures Vote on Nord Stream 2 Sanctions in Deal with Schumer
U.S. Senator Ted Cruz’s bill, which would impose measures on Russia’s Nord Stream 2 pipeline under previous mandates, will need 60 votes to pass.
Crude Oil , Trade , International
Oil Prices Slide by More Than 3% on Rapid Omicron Spread in Europe, US
“Both crude markers are taking a sharp dive as the new week gets underway amid the prospect of a bigger than expected Omicron-spurred dent to global demand,” says Stephen Brennock of broker PVM in a report.
Exploration & Production , Markets , Methane , Legislation , International , Emissions
EU to Clamp Down on Domestic Methane Emissions from Oil and Gas
A new proposal would force oil and gas operators in the EU to find and fix leaks of methane in their infrastructure, though it did not extend the rules to cover the companies abroad that supply most of Europe’s gas.