Two months ago, Nigeria’s beleaguered energy sector witnessed a very significant event: the Dangote Oil Refinery began producing gasoline and selling it domestically to Nigeria\’s state oil firm, Nigerian National Petroleum Company (NNPC), marking the first time in decades Africa’s largest oil producer is refining its own crude. The state-of-the-art $20.5 billion refinery was launched in […]
Continue ReadingNew US sanctions have led to a significant reduction in Russian oil exports as traders halt offers. Indian refiners, including Bharat Petroleum, are struggling to secure Russian oil for March delivery. Standard Chartered predicts that the sanctions will remove more Russian barrels from the market and lead to higher oil prices. Middlemen who supply Russian […]
Continue ReadingAsian and European countries are increasing their imports of U.S. LNG and crude oil to avoid potential tariffs. Europe faces challenges due to the high price of U.S. energy compared to geographically closer alternatives. Trump\’s cancellation of the Biden \”pause\” on new LNG export capacity will boost U.S. energy supply. When President Donald Trump was […]
Continue ReadingENB Pub Note: There is more to this story than meets the eye. Renaming the Gulf of America, it has brought up a legal question about the Oil and Gas drilling bans by the Biden-Harris administration. Those bans were for the Gulf of Mexico, not the Gulf of America. – This will be fun to […]
Continue ReadingThe Big Three investment firms leveraged others’ money to impose radical climate goals, overriding self-government and free market principles. A recent House Judiciary Committee report details how America’s largest financial institutions, colluding with climate activists, imposed radical environmental policies on the American economy, subverting both our self-government and free markets. [emphasis, links added] It focuses […]
Continue ReadingOil prices fell as traders await clarity on President-elect Donald Trump\’s policy agenda. Banks are gearing up for oil prices to fall below $60 a barrel by the middle of Trump’s term. Standard Chartered predicts the dramatic slowdown in U.S. oil production growth witnessed in 2024 will continue over the next two years. Oil prices […]
Continue ReadingNoble Several Republican-led states have filed a lawsuit to challenge the offshore drilling ban recently imposed by outgoing US president Joe Biden. The lawsuit claims that Biden had no authority to impose the ban and that such a decision had to be made in the US Congress. It also demands a reversal of Biden’s decision […]
Continue ReadingUS shale producers are focused on capital discipline and shareholder returns, limiting the impact of Trump\’s pro-oil policies. Increased Permian rig activity is unlikely to significantly boost oil production due to inventory depletion and efficiency concerns. The US is already on track to meet Bessent\’s 3-3-3 hydrocarbon production target without policy changes, driven by NGLs […]
Continue ReadingBy Julian Lee, Serene Cheong and Alex Longley (Bloomberg) — The most aggressive Western sanctions imposed on Russia’s oil sector since Moscow’s 2022 invasion of Ukraine threaten to disrupt global supply as buyers — led by China and India — scour the Middle East for alternative suppliers. Some estimates suggest the measures could halve Russian oil exports […]
Continue ReadingThe U.S. recently announced sanctions on Russian oil producers, along with vessels that have been shipping barrels of Russian crude. India will be hit the hardest by the sanctions, more so than China which has also been snapping up Moscow’s cheap oil, said analysts. The South Asian nation imports a significant 88% of its oil […]
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