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...“Eighty per cent of the consumption of hydrocarbons [oil and gas] by 2050 is going to be in the Global South. Today it is 40 per cent in the Global North and 60 per cent in the Global South....
...China relies on Iran for about a tenth of its oil imports but processes the oil not through its state-owned oil and gas companies but through smaller, private, refineries....
...of the US gas export industry....
...But Equinor is still first and foremost an oil and gas company....
...The crude price calm in the face of this turmoil owes much to events 7,000 miles away in the shale fields of North Dakota and west Texas, where drillers have left global markets awash with American oil....
...Three regions produce 61 per cent of the country’s natural gas: Appalachia, the Permian and the Haynesville (mostly east Texas and Louisiana)....
...He has failed to repeat the company’s feats at Tellurian, his latest venture, which has struggled to get its $25bn Driftwood project in Louisiana off the ground amid rising costs....
...The revision comes after the company pledged to devote a higher proportion of spending to oil and gas last year, and other oil groups such as BP have slowed their retreat from oil....
...But sharp falls in natural gas prices and reduced oil refinery margins dented their earnings in the first three months of the year, causing both companies’ shares to dip in early trading....
...While expanding oil and gas markets is an unequivocal reason of state for Putin, it is not in Washington....
...Last year, Eni paid $4.9bn for London-based oil and gas producer Neptune Energy in what was the largest cash deal in almost a decade for the European energy sector....
...The activists’ campaign spotlights a dilemma for Biden, who promised on the campaign trail to lead a transition away from fossil fuels but has witnessed record levels of US oil and gas production and exports...
...The short-term swings on Friday showed the markets were in an “agitated” state, said Viktor Katona, head of oil analysis at Kpler, an energy data and research company....
...“The environment right now is very positive for the oil and gas industry,” Alan Armstrong, chief executive of Williams, the biggest US gas pipeline company, told the Financial Times....
...Europe’s refineries have been in long-term decline, as major oil companies shut plants to try to meet net zero emissions targets and face the threat of electric vehicles....
...The cuts have crimped production of crude by some 5.3mn barrels a day, or about 5 per cent of global supply....
...Worse, banks have cut specialised loans to oil and gas companies as a direct result of the tax....
...US oil and gas production under his presidency has outstripped that of any country in history....
...The US reimposed sanctions on oil and gas from Venezuela yesterday after finding President Nicolás Maduro’s revolutionary socialist government had “fallen short” of its commitments to hold a free and fair...
...It is also a boon to the US economy, which thanks to a two-decades-long boom in shale oil and gas production moved from a net importer of energy to a net exporter in 2019....
...The potential tie-up comes as a wave of merger and acquisition activity sweeps across the US oil and gas sector as companies look to build scale and bulk up on dwindling prime drilling acreage....
...Russia remains one of the world’s most important energy exporters despite western sanctions on its oil and gas sector....
...The company — which will be given a new name at the close of the deal — will combine Chesapeake and Southwestern’s assets in gas-rich Appalachia in the US north-east and the Haynesville Shale basin in Louisiana...
...It said that the additional oil from the US, Brazil, Guyana and Canada alone, which have seen record production levels, “could come close to meeting world oil demand growth for this year and next”....
...Crude spiked and investors rushed into Treasury bonds.”...
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