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...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....
...“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....
...Russia remains one of the world’s most important energy exporters despite western sanctions on its oil and gas sector....
...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....
...The cuts have crimped production of crude by some 5.3mn barrels a day, or about 5 per cent of global supply....
...But Equinor is still first and foremost an oil and gas company....
...raw materials....
...Oil is currently below the level seen before last week’s drone and missile attack on the Jewish state by Tehran....
...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...
...Oil and gas executives were the most likely to share this view....
...Crude oil production has fallen sharply in the past two decades with monthly output dropping to a four-decade low in February....
...European refineries are suited to Russian “medium-sour” oil but the switch to other types of crude has reduced their capacity utilisation, according to Jakub Zasada, natural resources and commodities director...
...US oil and gas production under his presidency has outstripped that of any country in history....
...Crude spiked and investors rushed into Treasury bonds.”...
...US companies investing in Venezuelan oil and gas not covered by existing licences will have until May 31 to wind down their operations....
...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”....
...US crude oil and natural gas output is set to notch fresh records in 2024 and 2025, the government has forecast, despite mounting fears that the shale revolution that fuelled the nation’s energy boom has...
...The price of crude oil was little changed on Monday. Brent, the global benchmark, was down 0.3 per cent while WTI, the US equivalent, fell 0.8 per cent....
...Traders had largely expected the decision to extend the curbs, with crude oil prices rising last week ahead of the announcement....
...fell and crude oil stabilised....
...The oil and gas industry has begun taking steps to tackle methane emissions, as the US and other nations move to implement financial and other penalties....
...The US oil and gas industry is suing the Biden administration over its decision to severely restrict offshore drilling amid a growing industry backlash against its climate and energy policies....
...The biggest determinant of the price of petrol is the price of crude oil, which has risen sharply in recent months amid tightening global supply and demand dynamics and volatility in the Middle East....
...Despite some misgivings in industry about Trump and his anti-free trade agenda, big oil and gas donors still overwhelmingly side with his party....
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