G7 agrees to explore cap on Russian oil price Macron tells Biden that UAE, Saudi can barely raise oil output Political unrest in Ecuador, Libya could further tighten supply Delayed U.S. weekly oil data to […]
Oil exports from the US Gulf Coast are set to hit an all-time high of 3.3 million barrels per day (bpd) in the second quarter of 2022, as refining capacity outages limit operators’ ability to […]
Pioneer Natural Resources Corp. chief executive officer Scott Sheffield got to the point within 40 seconds of starting his formal remarks at an investor conference hosted by JPMorgan. “We’re [Pioneer] only going to grow 5% […]
(Bloomberg) — French President Emmanuel Macron said that the United Arab Emirates’ ruler confided to him that OPEC’s two leading oil exporters are already pumping almost as much oil as they can. The UAE is […]
(Bloomberg) — The OPEC+ alliance of oil producers is running out of capacity to pump more crude, including its biggest member Saudi Arabia, according to Nigeria’s petroleum minister. “Some people believe the prices to be […]
Oil well re-fracking is on the rise in the United States. Re-fracking of existing shale wells can cost up to 40 percent less than drilling a new well. Re-fracking could also help U.S. shale drillers […]
U.S. energy firms this week added oil and natural gas rigs for a second week in a row, in a record 23-month streak of increases, as high crude prices and prodding by the government prompted […]
Liquefied natural gas company Cheniere Energy has made a positive Financial Investment Decision (FID) concerning the 10+ million tons per annum of LNG Corpus Christi Stage 3 Liquefaction Project. Cheniere said that it issued full […]
Magellan Midstream announced the extension of their open season to solicit customer commitments for the potential expansion of our refined petroleum products pipeline system from the Houston area to El Paso, Texas. Significant interest has been expressed from potential […]
US Treasury Secretary Janet Yellen is at the forefront of calls for a cap on Russian oil export prices. Sounds like a great idea. Just don’t expect it to work. Here’s the problem. Russia earns […]
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