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Permian Frackers Blame Supply Chain Bottlenecks For Stymied Growth

Rising rig counts, record forecast production from the Delaware Basin, and another forecast for record production for the whole Permian from the EIA are just some of the latest news from the star U.S. shale play. And yet this production growth is much slower than it should have been and is likely to remain too slow. What happened? One reason is shareholders....

BP Reviews North Sea Investments In Wake Of UK’s Windfall Tax

BP will review its oil and gas investments in the UK, the company said on Thursday, after UK Chancellor Rishi Sunak presented a plan earlier in the day that would assess a 25% windfall tax on North Sea energy companies. The windfall tax is set to stick around until oil and gas prices return to normal levels, or by December 25. BP said earlier this month...

Buyers Scramble To Lock In Long-term Contracts In Red-Hot LNG Market

The long-term LNG contract is back.  Buyers of liquefied natural gas in Europe and Asia are increasingly committing to long-term purchase agreements, unlike in the past few years when spot contracts gained a significant market share as customers sought flexibility in delivery clauses and lower prices than the oil-linked prices in the long-term deals....

Spain Initiates Energy Austerity With Air Conditioning Limits

Spain passed a decree this week limiting the use of air conditioning in public buildings as part of a strategy to conserve energy and reduce Europe’s dependence on Russian gas. Spain itself does not depend on gas from Russia, but its government is working to increase energy efficiency as the European Union looks to reduce reliance on Russian gas by...

Why You Should Care About The Price Of Diesel

For the average citizen, it is often not until you fill your tank, stock your fridge, or heat your home that you have a tangible interaction with the global economy. While it is hard to get animated about the Consumer Price Index, the national interest rate, or the performance of the S&P 500, paying twice as much at the pump is hard to swallow....

U.S. Refiners Set To Add Just 350,000 Bpd Capacity By End-2023

U.S. refiners are operating at the highest operating rate since before the pandemic, but they are not expected to bring relief to the tight fuel market through major capacity expansions in the short term. Some of the biggest refiners are working on expanding the crude oil processing capacity at large existing facilities, but those additions will not...

Could Lifting Sanctions On Venezuela Help Ease The Energy Crunch?

Soaring energy prices, triggered by Russia’s invasion of Ukraine and diminished global production, have brought the focus back onto Venezuela, an OPEC member who was a major petroleum exporter and holds the world’s largest oil reserves. Strict U.S. sanctions effectively cut Venezuela off from global energy and capital markets, not only accelerating...

Spain Initiates Energy Austerity With Air Conditioning Limits

Spain passed a decree this week limiting the use of air conditioning in public buildings as part of a strategy to conserve energy and reduce Europe’s dependence on Russian gas. Spain itself does not depend on gas from Russia, but its government is working to increase energy efficiency as the European Union looks to reduce reliance on Russian gas by...

Is Pandemic Pain Finally Over For The Airline Industry?

Flights are rising back to pre-pandemic levels, with trips expected to increase dramatically this summer. Both leisure and business travel appear more popular as Covid restrictions ease worldwide and people resume their regular activities. Although steadily increasing fuel prices could dampen some travelers’ spirits as flight prices look set to go up. ...

Spain Initiates Energy Austerity With Air Conditioning Limits

Spain passed a decree this week limiting the use of air conditioning in public buildings as part of a strategy to conserve energy and reduce Europe’s dependence on Russian gas. Spain itself does not depend on gas from Russia, but its government is working to increase energy efficiency as the European Union looks to reduce reliance on Russian gas by...

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