The U.S. and its European allies are discussing a possible ban of Russian oil imports to tighten the economic squeeze on President Vladimir Putin over the war in Ukraine, Secretary of State Antony Blinken said. President Joe Biden’s administration, wary of pushing up energy prices for Americans, faced further pressure …
Read More »EIA: US Weekly LNG Exports Climb by Six LNGCs
According to the latest Short-Term Energy Outlook from EIA, U.S. LNG exports increased for the period between 24 February and 2 March 2022 compared to the week before. Specifically, they are up by six vessels. Twenty-four LNG vessels with a combined LNG-carrying capacity of 92 billion cubic feet departed the …
Read More »U.S., Allies Set Oil Reserves Release as Prices Soar
The United States and other member states of the International Energy Agency (IEA) on Tuesday agreed to release 60 million barrels of oil reserves to compensate for supply disruptions following Russia’s invasion of Ukraine. Russian oil trade is in disarray after many nations imposed sanctions on Russian companies, banks and …
Read More »U.S. to Help Uzbekistan Explore New Shale Deposits
Scientists from the United States will team up with experts from Uzbekistan to prospect for shale oil and gas deposits this year as Tashkent moves to ramp up production to tackle energy shortages and provide raw material for the gas-processing industry. Experts from the United States Geological Survey, or USGS, …
Read More »Iraq’s Oil Exports to the United States Increased in Last Week
The Energy Information Administration (EIA) Data showed, on Saturday, that Iraq’s export oil to the United States increased to 285 thousand bpd in the last week. EIA stated in a report, “The United States oil exports recorded 6.114 bpd in the first week of January.” The top three source countries …
Read More »U.S. Rig Count Gains for 18th Straight Week
The number of active drilling rigs in the United States rose by 5 this week—the 18th straight weekly increase to the number of oil and gas rigs in the United States. The total rig count now has now reached 650, as the world watches for any signs of increased output …
Read More »U.S. Sanctions will not Target Russia’s Oil and Gas Exports
The sanctions that the United States is imposing on Russia for recognizing two breakaway regions in eastern Ukraine and sending troops there are not targeting Russian oil and gas flows, nor will they target such flows in subsequent sanctions that could be imposed soon, the U.S. said. On the condition …
Read More »USA Adds Several Rigs Week on Week
The U.S. added seven rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on December 10. The additions comprised six land rigs and one offshore rig, Baker Hughes’ count showed. They take the country’s total rig count up to 576, comprising 560 land rigs, …
Read More »The U.S. will be a Net Oil Importer in 2022
Higher net crude oil imports are set to make the United States a net petroleum importer this year again, as in 2021, after a historic shift of being a net petroleum exporter in 2020, the U.S. Energy Information Administration (EIA) said on Friday. A net petroleum importer is a country …
Read More »Europe Remains Top Destination for U.S. LNG for Third Month
Europe’s call for U.S. liquefied natural gas continues to run hot in February and is poised to remain the top destination for U.S. shipments for the third month in a row, according to mid-month Refinitiv vessel tracking data on Tuesday. About three quarters of U.S. LNG volumes went to Europe …
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