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

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The US and other member states of the International Energy Agency (IA) agreed earlier in March to release 60 million barrels of oil reserves to compensate for supply disruptions following Russia’s invasion of Ukraine, with the US supplying 30 million. Bush authorized a drawdown of 33.75 2005 Hurricane Katrina Sale.

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

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To this end, the GECF Secretary General reiterated the GECF’s readiness to support the Turkmen industry as it undergoes transformation on the back of the future energy trends, digitalization, and climate action.

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Europe Expands Virtual Borders To Thwart Migrants

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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. wants to step away from having proactive naval operations,” says international relations researcher.

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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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million barrels per day (b/d) in June, up 170,000 b/d from May and the fourth consecutive monthly increase since February, as Saudi Arabia and Iraq pushed out more oil, a Platts survey of OPEC and oil industry officials and analysts showed Monday. Oil production from the Organization of the Petroleum Exporting Countries (OPEC) totaled 31.28

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Platts: June OPEC output of 32.73M barrels of crude per day, highest since Aug. 2008

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million b/d, as production in Nigeria and Libya tentatively recovered along with steady increases for Saudi Arabia and Iran, according to an S&P Global Platts survey of OPEC and oil industry officials. An internal state-owned PDVSA report seen by S&P Global Platts also showed a steep fall in oil output.

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New EIA report boosts estimates of global recoverable shale oil resources 10-fold to 345 billion barrels

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Within the US, industry typically refers to tight oil production rather than shale oil production, because it is a more encompassing and accurate term with respect to the geologic formations producing oil at any particular well. EIA commissioned Advanced Resources International, Inc. —EIA Administrator Adam Sieminski.

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Opinion: How Much Longer Can OPEC Hold Out?

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OPEC (Organization of the Petroleum Exporting Countries) has been the most talked about international organization among investors, analysts and international political lobbies in the last few months. As per its state run oil company PDVSA, the country loses about $700 million a year with every $1 drop in the international oil price.