Ukrainian Group to Sue Canada for Returning Nord Stream 1 Turbine
Ukraine is calling for Canada to reverse a decision to exempt the return of turbines from its Russian sanctions, insisting that there are other solutions to solving Europe’s energy crisis.
Reuters
OPEC Says Total Oil Demand to Exceed 100 Million-barrel Mark
OPEC also still forecasts supply growth to come from U.S. Permian Basin oil and non-conventional NGL and the Gulf of Mexico, according to the group’s latest oil market report.
Pietro D
Pitts
Hart Energy
IEA Chief Says Price Cap on Russian Oil Should Include Refined Products
“Critical minerals security will be an important issue for energy security in the future,” International Energy Agency executive director Fatih Birol said of the IEA’s plan to cap the price of Russian oil to curb inflation.
Sonali Paul, Reuters
OPEC Could Take ‘Further Steps’ on Oil Output, White House Official Says
President Joe Biden will make a stop in Saudi Arabia this week, pushing energy policy into the spotlight as the U.S. and other countries face soaring fuel prices that are driving up inflation.
Reuters
Colombia Council of State Overturns Fracking Ban
The decision allows companies, including U.S.-based Exxon Mobil and ConocoPhillips, to move forward with environmental impact assessments necessary to conduct fracking to tap into Colombia’s shale resources.
Pietro D
Pitts
Hart Energy
US Extends License for Continued LPG Exports to Venezuela
The U.S. government had issued a general license for the first time last year authorizing LPG supplies to Venezuela, mainly used in the OPEC nation as cooking fuel, with that license set to expire on July 8.
Pietro D
Pitts
Hart Energy
Norway Approves Ormen Lange Expansion, Development Plans for Two Other Gas Fields
The Ormen Lange phase 3 extension, Norway’s second largest gas field, will as a result increase gas recovery from 75% to 85%, the country’s ministry said.
Reuters
UK Oil Sector Secures Changes to Windfall Tax, Seeks More amid Government Chaos
Oil and gas companies said the tax would lead to shrinking investment and, ultimately, less domestic production to underpin Britain’s energy security.
Reuters
US Tightens Sanctions on Iran, Targets Chinese, UAE Firms over Oil
Washington has increasingly targeted Chinese companies over the export of Iran’s petrochemicals as the prospects of reviving the nuclear pact have dimmed.
Daphne Psaledakis and Arshad Mohammed, Reuters
Kremlin Slams Japan’s ‘Unfriendly’ Stance Amid G7 Oil Price Cap Talk
Kremlin spokesman Dmitry Peskov Medvedev also said Japan “would have neither oil nor gas from Russia, as well as no participation in the Sakhalin-2 LNG project” as a result.
Reuters