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Home2022June

Month: June 2022

global energy markets
International News

OPEC+ raises output faster than expected as Russia’s war roils global energy markets

June 2, 2022 Mariel Alumit

OPEC and its oil-producing allies agreed to hike output in July and August by a larger-than-expected amount as Russia’s invasion of Ukraine wreaks havoc on global energy markets. OPEC+ will increase production by 648,000 barrels […]

Korean Shipbuilder
Exports

Korean Shipbuilder Can’t Accept New FSRU Orders as Capacity Full

June 2, 2022 Mariel Alumit

Korea Shipbuilding & Offshore Engineering (KSOE) has mostly filled its order book for the next 2-1/2 years as the pandemic drove demand for container ships, leaving little room to meet the needs of the liquefied […]

Natural gas production in the Permian Basin reached an annual high in 2021
EIA News

Natural gas production in the Permian Basin reached an annual high in 2021

June 2, 2022

Marketed natural gas production from the Permian Basin in western Texas and eastern New Mexico reached a new annual high of 16.7 billion cubic feet per day (Bcf/d) in 2021. Annual marketed natural gas production […]

OPEC+
Commodities

OPEC+ hiking oil supply, heeding U.S. but keeping Russia onside

June 2, 2022 Mariel Alumit

(Bloomberg) — OPEC+ agreed to increase the size of its oil-supply hikes by about 50%, in a deal that kept Russia at the heart of the cartel while also heeding pressure from major consumers including […]

Russia’s invasion
Crude Oil News

These charts show how Russia’s invasion of Ukraine has changed global oil flows

June 2, 2022 Mariel Alumit

Russia’s invasion of Ukraine has altered the global oil trade. EU leaders agreed to ban the majority of Russian crude imports, but even prior to the official action imports to Northwest Europe were down. More […]

Equinor
International News

Equinor restarts Hammerfest LNG production

June 2, 2022 Mariel Alumit

Norwegian oil giant Equinor has said the Hammerfest LNG is back in production after the fire in September 2020. On 2 June 2022, Equinor informed that, after extensive repairs and improvement work, Hammerfest LNG is […]

Shell
M & A

Shell Buys Fuel Retail Sites From Landmark Industries

June 2, 2022 Mariel Alumit

Shell Retail and Convenience Operations, a wholly owned subsidiary of oil supermajor Shell, has completed the acquisition of certain company-owned fuel and convenience retail sites from Landmark Industries. Shell said that the acquisition also included […]

Russia
Geopolitical

U.S. Split Over Next Round Of Russia Sanctions

June 2, 2022 Mariel Alumit

Biden administration officials are divided over how much further the US can push sanctions against Russia without sparking global economic instability and fracturing transatlantic unity. While President Joe Biden’s team rallied behind a sanctions plan […]

China
International News

New Iran sanctions prompt China independents to expand focus on Russian crude

June 2, 2022 Mariel Alumit

China’s independent refiners may aim to keep potential risk at bay and refrain from taking Iranian barrels in the near term following a new set of sanctions imposed by US authorities, as plentiful availability of […]

Phillips 66
Renewables Not Sustainable

Phillips 66 joins forces with FreeWire to expand US EV charging program

June 2, 2022 Mariel Alumit

Phillips 66 signed a letter of intent with FreeWire Technologies to expand its electric fuel charging capabilities, using its existing US retail network sites to meet growing demand for electric vehicles, the company said June […]

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