China Merchants has bought a 70% stake in Vast Infraestrutura, Brazil’s only privately run VLCC terminal, located in the port of Açu in a deal worth up to $714m. China Merchants bought its stake in the oil terminal from US-based EIG Global Energy Partners, which has been developing the site for the past 10 years. […]
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ENB PUB Note: I call it \”Drill Baby Drill, when fiscally responsible.\” The new mantra among frackers: “Discipline” to not trigger another oil-price collapse through overproduction. Drill Baby Drill, but not too fast. By Wolf Richter for WOLF STREET. Crude oil production in the US rose by 2.5% in 2024, and by 165% since 2008, to a record […]
Continue ReadingPrices rose from the collapsed levels in the prior year and are back where they’d been in 1996, down by 70% from the peak in 2005. By Wolf Richter for WOLF STREET. When it comes to US natural gas production, exports, and imports, a key element is that the price of natural gas in the US has collapsed […]
Continue ReadingWeekly Daily Standup Top Stories Trump’s Energy Czar Has Plan to ‘Map, Baby, Map’ US Oil Bounty February 23, 2025 Clark Savage Burgum suggests stronger USGS role to analyze the potential Says US public lands hold natural resources worth trillions Interior Secretary Doug Burgum touted a plan for mapping deposits of oil, gas and critical minerals on US […]
Continue ReadingDaily Standup Top Stories Redrawing of global energy markets map set to heap benefits on US February 23, 2025 Clark Savage The prospects of peace and the return of Russian gas looks likely to serve the interests of Donald Trump The Kremlin’s invasion of Ukraine three years ago has reverberated through the global energy industry; unravelling Europe’s […] […]
Continue ReadingDaily Standup Top Stories Iranian Oil Exports to China are rolling February 19, 2025 Clark Savage Iranian crude oil flows to China have rebounded this month after a U.S. crackdown on shipments launched in late 2024 decimated them in January. In a last-minute push to sanction Iran, the Biden admin blacklisted […] West will have to reconsider […]
Continue ReadingIranian crude oil flows to China have rebounded this month after a U.S. crackdown on shipments launched in late 2024 decimated them in January. In a last-minute push to sanction Iran, the Biden admin blacklisted a number of tankers, trading entities, and shipping companies as participants in sanctioned oil trade. The February average of Iranian […]
Continue ReadingDaily Standup Top Stories Why China is Winning the Nuclear Energy Race February 17, 2025 Clark Savage China has significantly increased its nuclear energy capacity in the last decade, positioning it to become the world’s largest nuclear energy producer. China is actively developing and deploying advanced nuclear technologies, such as small modular […] EU gas imports from […]
Continue ReadingChevron Corp. plans to ratchet up oil exports from Venezuela to a seven-year high as a reset of the country’s relationship with the US eases concerns that trade restrictions will increase. Exports of synthetic oil from Chevron’s Petropiar project are expected to rise about 50% to about 143,000 barrels a day this month, the highest […]
Continue ReadingWeekly Daily Standup Top Stories Musk gains ‘full access’ to US Treasury system February 2, 2025 Mariel Alumit Elon Musk’s Department of Government Efficiency (DOGE) has been granted full access to the US Treasury Department’s payment system, according to reports from The New York Times and The Wall Street Journal. Historically, access to […] Russian gas exports […]
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