Geopolitics and War
Be careful with whom you get into bed: #SriLanka may be compelled to buy more #oil from #Russia as the island nation hunts desperately for #fuel amid an unprecedented #economic crisis, the newly appointed #PrimeMinister said.https://t.co/o1O8lN5h1y— Liz Goldenberg (@newstruthliz) June 12, 2022
South Africa may resort to buying Russian oil
#SouthAfrica may resort to buying Russian oil as higher prices bite— Commodity Insights Oil (@SPGCIOil) June 17, 2022
🔸SA has only imported Russian crude once in past decade
🔸RU crude still trading at record discounts
🔸Mantashe calls for more offshore exploration
Premium content 💎 https://t.co/A3D8pR43VV#oott #crudeoil pic.twitter.com/xi9aLYcyTY
The force majeure at Freeport LNG might continue till Sept
The force majeure at Freeport LNG has left a dozen tankers waiting amid a tight global market.
This might help with US domestic supply but European and Asian buyers will have a tough time, with a resolution only seen early 2023.
Natural Gas prices reversed direction after GANN set up
NYMEX NATURAL GAS— ADFC Futures/Forex (@ADFCFUTUREFOREX) June 14, 2022
As anticipated,NG reversed direction after GANN set up was completed#NaturalGas #gas #energy #futures #trading #oil #analysis #investing #finance #commodity #fund #adfc #qatar #russia #europe #ukraine #uae #dubai #SaudiArabia #Kuwait #bahrain pic.twitter.com/hTTs70f9zc
In India, Jet fuel (ATF) prices were hiked by 16.3%
Supply & Demand
Qatar is almost doubling its LNG capacity
Qatar's North Field expansion includes six LNG trains that will ramp up Qatar's liquefaction capacity from 77 million tons per annum (mtpa) to 126 mtpa by 2027, consolidating its status as the world's largest producer of LNG.
US Crude Oil imports +800,000 bpd vs previous week
#EIA: #oil data: U.S. crude oil imports averaged 7.0 mln bpd last week, +800,000 bpd vs previous week; last 4 weeks #crude oil imports averaged 6.5 mln bpd, +2.2% vs year-ago period#OOTT #OPEC #diesel #shipping #inventory #energy #data #exports #crudeoil #tankers #imports pic.twitter.com/NteNNjrHu2— Robert Gibbons (@robert__gibbons) June 15, 2022
OPEC expects oil demand growth to slow significantly next year
US releases 45 million barrels of crude oil from the SPR
Mumbai airport launches renewable hybrid power generation project
The Mumbai airport said that it has become India’s first airport to launch a renewable hybrid power generation project involving wind & solar energy.
Called ‘Vertical Axis Wind Turbine’, the unit along with a photovoltaic solar hybrid (solar mill) was installed under a pilot programme.
The airport said it plans to meet its ‘Net Zero’ carbon emission target by 2029.
US shale earnings could nearly triple this year
US shale earnings could nearly triple this year.
Oil rig counts up 6 from last week to 580 and slated to reach 640 by the end of 2022. Overall, US Crude Oil production rose to 12 million bpd which is the highest level since April 2020.
From today's US Petroleum Status Report ...— Oil Sands Magazine (@OilSandsMag) June 15, 2022
1/4 US crude output returns to 12M bpd (+0.1 w/w)
• Highest since Apr 2020 (was 13M bpd pre-COVID)
• Oil rig counts up 6 from last week to 580https://t.co/wbIDhpxz5M #WTI pic.twitter.com/tkXwOskyCX