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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

Green Car Congress

DOE received over 90 offers that resulted in 28 contracts with 15 companies for deliveries of 30,640,000 barrels. In these exchange agreements, crude oil is released to private companies and repaid in kind with additional barrels by specified dates, similar to monetary interest on a loan. 1 March 2022 IEA Coordinated Release.

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The 5 Countries That Could Push Oil Prices Up

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The ‘Fragile Five’ petrostates—Iran, Iraq, Libya, Nigeria and Venezuela—continue to see supply disruption potential, with northern Iraq crude exports at risk due to an escalation of tensions between the (Kurdistan Regional Government), Baghdad and Turkey, while the United States has decertified the 2015 Iran nuclear deal,” U.S.

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GECF: more than a quarter of 2050 natural gas supply untapped

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The two-day Oil and Gas of Turkmenistan 2020 conference was organized by the Government of Turkmenistan and attracted the participation of regional and international energy companies, including CNPC, Dragon Oil, SOCAR, ENI, ARETI, Schlumberger, Hyundai, among others.

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The Technical Failure That Could Clear The Oil Glut In A Matter Of Weeks

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The latter’s national oil company, Qatar Petroleum, has only been able to maintain crude oil production on its main offshore oilfield Al Shaheen through heavy investments from its former joint-venture partner Maersk Oil. But the current production increases in Nigeria, Iraq and Libya, will most probably be temporary.

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US Shale Is Now Cash Flow Neutral

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Indeed, shale companies were coming off of one of their worst quarters in terms of cash flow in recent history. E&P companies began cutting costs, laying off workers, squeezing their suppliers and deferring projects that no longer made sense. If we stay (at $55 a barrel), the world’s biggest oil companies start to make money again.

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Platts Survey: OPEC pumps 31.28M barrels of crude per day in June; highest since Aug 2012

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In Libya, output slipped by 20,000 b/d to 410,000 b/d as it continued to struggle to raise production due to ongoing security issues and technical limitations. OPEC said after its 5 June agreement that members had been urged to adhere to the 30 million b/d ceiling.

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Europe Expands Virtual Borders To Thwart Migrants

Cars That Think

It was after midnight in the Maltese search-and-rescue zone of the Mediterranean when a rubber boat originating from Libya carrying dozens of migrants encountered a hulking cargo ship from Madeira and a European military aircraft. When I got to Libya, I didn’t have money,” Jacob says. Five more migrants died on the southward journey.

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