Monday, February 3, 2025
Russia's May oil output hits 11-month low on dirty oil crisis - Oil & Gas 360

Small U.S. Oil Producers Face Output Squeeze as Pipelines Fill

From Reuters As pipelines out of the largest U.S. oil field reach capacity in the coming months, further depressing West Texas crude prices, smaller producers will have to slow or shut-in production, according to oil executives. Soaring production in U.S. shale fields has driven output to a record 10.47 million barrels per day (bpd) this year and any cutbacks would

Expanded Panama Canal is Altering Global Trade Flows

From LNG World Shipping Eastbound containers vs. westbound LNG:  both set record volumes in May Growing container traffic to the East Coast of the United States and a new liquefied natural gas export business to Asia are driving record volumes through the Panama Canal. In May, a total of 38.1M tons went through the canal, according to the Panama Canal Universal

China Leaves U.S. LNG Off Import Tariff Retaliation Hit List—For Now

From Financial Times Chinese LNG demand is soaring — so much so that Beijing spared the product from tariff rises When China last week set out a list of US exports threatened with retaliatory tariffs, almost all fossil fuels were covered, including oil, coal and liquefied petroleum gases such as propane. There was, however, one conspicuous exemption: liquefied natural gas.

Rocket Hits Site of Foreign Oil Firms Exxon, Shell, Eni in Iraq's Basra, Three Hurt

Coalition Kills Islamic State Oil Chief in Syria

Disrupts revenue source to finance operations in Iraq and Syria  By Reuters BEIRUT – The US-led coalition in Syria said on Tuesday it had disrupted Islamic State’s funding by killing the man who ran its oil and gas network and other members of the group last month. “The death of these (Islamic State) members hinders the terrorist group’s ability to finance

Oil Surplus Makes Surprise Return Despite OPEC Cuts, IEA Says - Oil&Gas360

Invited U.S. Shale Brass Weigh In Ahead of OPEC Meeting

“OPEC needs to fulfil its duty – none of us wants $80 to $100 oil” – Scott Sheffield OPEC’s meetings this week are mostly dominated by the heads of member countries’ national oil companies, but at least two top officers from American shale companies are also in attendance. In the run-up to OPEC’s meeting in late 2016, when cutting production