Oil and Gas Industry

Gasoline Prices Fall for First Time in a Month, Still Higher YoY

Oil & Gas‚ Oil and Gas Industry | intent | April 15, 2025 | Comment off

“While I do expect gas prices to continue trending lower, any abrupt change in the current tariff situation could eventually bring the decline to a halt. For now, the good news is that gas prices typically reach their yearly peak around April 10, so we may have already witnessed ‘peak pain’ at the pump for 2025. As refiners near the end of seasonal maintenance and supply begins to rise — and with the changeover to summer gasoline nearly complete — it’s increasingly likely that gas prices have already hit their high for the year,” De Haan continued.

Moscow’s New Energy Plan: Oil Output To Remain Flat Until 2050

Oil & Gas‚ Oil and Gas Industry | intent | April 15, 2025 | Comment off

The new Russian energy plan appears to contradict statements coming out of Moscow as early as September 2024, when the country’s deputy energy minister, Pavel Sorokin, said Russia was anticipating significant growth in global oil demand through 2050 and was prepared to meet that rising demand. At the time, Sorokin also stressed that Russia will not saturate the market unless necessary. The Energy Ministry forecasts global oil demand to grow by at least 5-7 million barrels per day, a 4.5%-5.5% increase through 2030, with continued growth of at least 5% by 2050.

Brazil Auctions Oil Blocks Under Environmental Dispute

Oil & Gas‚ Oil and Gas Industry | intent | April 15, 2025 | Comment off

The Equatorial Margin offshore Brazil, which includes Foz do Amazonas, Pará-Maranhão, and Barreirinhas basins, is estimated to hold large oil and gas reserves and is believed to share geology similar to that of Guyana’s offshore, where Exxon is finding billions of barrels of oil and has developed and is developing half a dozen projects. Petrobras is appealing Ibama’s decision to not grant drilling rights. However, this decision may spook potential candidates for the blocks, according to a local analyst.

Oil Prices Stabilize on Tariff Exemptions and China Imports

Oil & Gas‚ Oil and Gas Industry | intent | April 15, 2025 | Comment off

At the time of writing, Brent crude was trading at just over $65 per barrel, with West Texas Intermediate at $61.71 per barrel, after on Friday the Trump administration announced a tariff exemption for certain electronics and semiconductors. Optimism wavered this week, however, as Washington launched investigations into pharmaceutical and semiconductor imports in what the media reported was part of setting the stage for tariffs on these two groups of products. President Trump himself said semiconductors were on the line for tariffs.