ENB Pub Note: This is a fantastic article from the Merchant\’s News Substack by Giacomo Prandelli. We highly recommend subscribing to and reading his Substack. Stu Turley just had an interview with Giacomo, and the podcast is in production for release soon. We will keep you posted. Everyone’s celebrating gold breaking $4,200 and silver doubling […]
Continue ReadingIn a move that underscores the ongoing ripple effects of Western sanctions on Russia\’s energy sector, at least one independent Chinese refiner—commonly known as a \”teapot\”—has snapped up Russian ESPO crude at a significant discount. The purchase, made late last week, came at a markdown of $7 to $8 per barrel below the ICE Brent […]
Continue ReadingIn a major boost for U.S. energy infrastructure and Alaska\’s economy, the Alaska LNG project has secured all necessary federal permits ahead of schedule, paving the way for what could become one of the largest natural gas developments in North America. This milestone, achieved under the Federal Permitting Improvement Steering Council\’s oversight, marks the end […]
Continue ReadingOr is this about the Monroe Doctrine? 1. The Trump administration’s actions against Venezuela, including the capture of a “dark fleet” oil tanker. We discuss whether this is more about oil or a show of force against the Venezuelan government. Stu chimes in that Panama is not renewing their “Belt and Road” initiative with China, […]
Continue ReadingIn a world increasingly focused on energy transitions and geopolitical tensions, recent projections paint a picture of sustained growth in global oil demand. According to a report from the CNPC Economics and Technology Research Institute, global oil demand is expected to continue rising until peaking in 2040 at 4.8 billion tons, marking a significant upward […]
Continue ReadingVenezuela, home to the world\’s largest proven oil reserves, has long been a pivotal player in global energy dynamics. However, years of political turmoil, economic mismanagement, and stringent U.S. sanctions have crippled its oil industry, reducing production from peaks of around 2 million barrels per day (bpd) in the mid-2010s to roughly 900,000 bpd today. […]
Continue ReadingIn a series of bold operations, Ukrainian forces have intensified their drone campaigns against Russian energy assets, underscoring the ongoing geopolitical tensions\’ profound impact on global oil markets. The latest strikes, including a significant hit on the Afipsky oil refinery in Krasnodar Krai, highlight Ukraine\’s strategy to disrupt Russia\’s oil production and export capabilities. Additional […]
Continue ReadingIn a bold display of defiance against US sanctions, two shadowy supertankers—operating under the pseudonyms \”Crag\” and \”Galaxy 3\”—have docked at Venezuela\’s Jose port to load nearly 4 million barrels of Merey 16 crude oil destined for Asia. These vessels, part of the infamous \”dark fleet\” used to evade international restrictions, highlight the ongoing cat-and-mouse […]
Continue ReadingOil had a weak and volatile year, while natural gas outperformed on the back of LNG approvals, higher breakevens, and emerging data-center demand. Despite price pressure, U.S. E&Ps outperformed expectations, and production is unlikely to decline unless oil approaches the $50 per barrel threshold. Looking ahead to 2026, U.S. shale operators may expand international exposure […]
Continue ReadingIn a stark indicator of mounting pressures on Russia\’s energy sector, the country\’s oil and gas revenues are projected to plummet by nearly 50% in December 2025, reaching a five-year low of approximately $5.15 billion. This sharp decline caps off a challenging year, with cumulative revenues for the first 11 months of 2025 estimated at […]
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