OPEC+ likely to stick to its guns despite price slump, delegates say
Ahmad Ghaddar et al., Reuters
OPEC+ is likely to stick to its deal on output cuts of 2 million barrels per day (bpd) until the end of the year, even after a banking crisis sent crude prices plunging, three delegates from the producer group told Reuters.
Falling US gasoline stockpiles signal a repeat of last summer’s high prices
Shariq Khan, Reuters
U.S. motorists face a repeat of last summer’s high gasoline prices, analysts warned on Wednesday, with fuel stockpiles heading towards multi-year lows ahead of the peak summer driving season that begins in two months.
Gas Industry Pushes Congress, FERC for Changes to Speed Permits
Daniel Moore, Bloomberg Law
Natural gas pipeline developers are pressing Congress and US energy regulators to speed up the permitting process as a way to build more projects that deliver energy to the Eastern states.
Oil exec held for 5 years in Venezuela sues Citgo for $100M
Juan A. Lozano, The Associated Press
One of the Citgo oil executives who was held for nearly five years in Venezuela has sued his company for $100 million, alleging it conspired in his detention and then abandoned him and his family as he wasted away in horrific prison conditions for a crime he didn’t commit.
Big Oil Eyes New Deals in North Africa Amid Rising Energy Demand
Chao Deng and Benoit Faucon, The Wall Street Journal
After years of underinvestment in North Africa’s energy infrastructure, global oil-and-gas giants from Halliburton Co. and Chevron Corp. to Eni SpA are ramping up their presence in the region as demand from Europe grows.
Oil spills and near misses: more ghost tankers ship sanctioned fuel
Jonathan Saul, Reuters
Hundreds of extra ships have joined this opaque parallel trade over the past few years as a result of rising Iranian oil exports as well as restrictions imposed on Russian energy sales over the war in Ukraine, said the industry players, who include commodity traders, shipping companies, insurers and regulators.