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HomeCrude Oil News

Crude Oil News

Total Global Recoverable Oil Reserves Are Falling At An Alarming Rate
Crude Oil News

Total Global Recoverable Oil Reserves Are Falling At An Alarming Rate

July 4, 2022 Stu Turley

Following the publication of BP’s annual Statistical Review, each year Rystad Energy releases our own analysis of the global energy landscape to provide an independent, data-based comparison and evaluation. Continuing the trend from previous years, […]

India imposes windfall tx on oil producers
Crude Oil News

India imposes windfall tax on oil producers, fuel exporters

July 2, 2022 Stu Turley

India has imposed windfall tax on oil producers and refiners who have boosted product exports to gain from higher overseas margins as the government seeks to increase local supply of fuels to meet rising demand […]

Venezuela’s
Crude Oil News

Oil production increase leads Venezuela’s economy to see most growth in 15 years

July 1, 2022 Mariel Alumit

(Bloomberg) — Venezuela’s economy is forecast to expand at its fastest pace in 15 years, marking a rebound for a country that recently emerged from the deepest recession in Latin America. Gross domestic product is […]

Tennessee Gas Pipeline
Crude Oil News

Tennessee Gas Pipeline receives FERC approval for producer certified gas pooling service proposal

July 1, 2022 Mariel Alumit

Tennessee Gas Pipeline Company, L.L.C. (TGP), a subsidiary of Kinder Morgan, Inc. received approval for its producer certified gas (PCG), or responsibly sourced gas (RSG), aggregation pooling service from the Federal Energy Regulatory Commission (FERC). The […]

UAE
Crude Oil News

UAE, Saudi Arabia Pumping Oil Near Limits: Macron

July 1, 2022 Mariel Alumit

Macron: Saudi Arabia and UAE are nearing the limits of their production capacity. Saudi Arabia’s production quota was raised 114,000 bpd in June and will be raised another 170,000 bpd in July. News about shrinking […]

Pipeline
Crude Oil News

Permian Highway Pipeline Announces Final Investment Decision for Expansion Project

June 30, 2022 Mariel Alumit

HOUSTON–(BUSINESS WIRE)–Permian Highway Pipeline, LLC (PHP) today announced a final investment decision (FID) to proceed with its expansion project after securing binding firm transportation agreements for all available capacity. “In addition, approximately 30 of Kinetik’s […]

Biden administration
Crude Oil News

Biden administration oil, gas auctions kick off with thin industry response

June 30, 2022 Mariel Alumit

June 29 (Reuters) – The Biden administration’s first sale of oil and gas drilling rights on federal land garnered thin industry interest on Wednesday while environmental groups filed two separate lawsuits seeking to invalidate the […]

Railroad
Crude Oil News

Texas Railroad Commission proposes rules to ensure natural gas supply in weather emergencies

June 30, 2022 Mariel Alumit

AUSTIN – Railroad Commission of Texas commissioners approved a proposed sweeping weatherization rule to help protect Texans during weather emergencies that could occur any time of the year. The proposed rule that was approved today is open […]

BlackBrush
Crude Oil News

BlackBrush Oil & Gas explores south Texas asset sale -sources

June 30, 2022 Mariel Alumit

June 29 (Reuters) – BlackBrush Oil and Gas has placed some of its assets in south Texas for sale, seizing on a surge in energy prices, people familiar with the matter said on Wednesday. The […]

OPEC
Crude Oil News

OPEC half a billion barrels behind on oil supply deal

June 29, 2022 Mariel Alumit

(Bloomberg) — OPEC+ is more than half a billion barrels behind on its pledge to supply world markets with oil, exacerbating concerns about the group’s ability to balance the global market. In May 2020, the […]

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