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Crude Oil , Trade , International
OPEC+ Sticks to Oil Output Hikes, Avoids Debate on September Plans
“OPEC+ is mulling firing its last crude production bullets as it runs out of capacity to pump more, whilst refining capacity for oil products ... which drives the real economy, has declined markedly,” said Ehsan Khoman from MUFG bank.
June 30, 2022
Business , Natural Gas , Trade
Wanted: More US Natural Gas
Will the U.S. have enough natural gas come winter? Executive Editor-at-large Nissa Darbonne explores in her monthly column featured in Oil and Gas Investor.
June 30, 2022
Markets , Trade , International
Shell CEO Says Global Spare Capacity is Running ‘Very Low’
“Spare capacity is running very, very low,” Shell CEO Ben van Beurden said on June 29, adding that despite economic and COVID-19 challenges, global oil and gas demand is still recovering.
June 29, 2022
Business , Crude Oil , Trade
Pemex Oil Exports to US Rise in May
While crude exports to “America”—which accounts mainly for the U.S.—were up, Mexico’s state-owned Pemex reported a significant cut in shipments to Europe and Asia.
June 28, 2022
Crude Oil , Trade , Tankers
US Authorities Make Checks on Oil Tanker Arriving from Russia
The Vitol-chartered vessel was shipping intermediate oil products including vacuum gasoil and fuel oil from Russia’s Taman port to New Orleans last week, according to a trading source and shipping data.
June 28, 2022
Markets , Trade , International
Why Russian Oil and Gas Price Cap is Easier Said than Done
“The big unknown is Vladimir Putin’s reaction,” said Tamas Varga from oil broker PVM. If Putin decides to reduce oil or gas exports the plan will backfire and lead to a rise in prices: “It is a nightmare scenario—both for Europe and Russia.”
June 28, 2022
Markets , Trade , International
G7 to Hike Sanctions on Russia Including Oil Price Cap Deal
The announcements came as the White House said Russia had defaulted on its foreign sovereign bonds for the first time in a century—an assertion Moscow rejected.
June 27, 2022
Natural Gas , Trade , International
Germany Triggers Gas Alarm Stage, Accuses Russia of ‘Economic Attack’
“If this minus becomes so big that the companies can’t bear it anymore and they fall down, the whole market threatens to fall down at some point—so a Lehman Brothers effect in the energy system,” German Economy Minister Robert Habeck warned.
June 23, 2022
Markets , Trade , Legislation
Biden Will Ask Congress to Pause Gasoline Tax Amid Record Prices
Biden will also call on states to temporarily suspend state fuel taxes and challenge major oil companies to come to a meeting with his energy secretary later this week with ideas on how to bring back idled refining capacity.
June 22, 2022
Business , Trade , Energy Transition
US Solar Developers to Spend $6 Billion to Boost Domestic Panel Supplies
Since the start of the pandemic, companies that buy solar panels for large power plants have struggled with global supply chain disruptions that have driven up costs, as well as potential U.S. tariffs on imported panels from Asia.
June 21, 2022