Oil & Gas | GUPC

Trump Hints at Additional Tariffs on China Over Russian Oil Imports

Oil & Gas‚ Oil and Gas Industry | intent | August 7, 2025 | Comment off

In a later statement, India’s foreign ministry said that oil import decisions were “based on market factors and done with the overall objective of ensuring the energy security of 1.4bn people of India”. A spokesperson for the ministry said that “It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest. We reiterate that these actions are unfair, unjustified and unreasonable.”

China’s Coal Imports Plunge 23% as Domestic Output Surges

Oil & Gas‚ Oil and Gas Industry | intent | August 7, 2025 | Comment off

Chinese coal purchases for the first half of 2025 were down by 11% from a year ago, to 221.7 million tons. Imports for the full year are set to be between 50 million tons and 100 million tons lower compared to 2024, the local industry association, China Coal Transportation and Distribution Association, said last month. Factors affecting imports include the real estate sector crisis, weaker industrial growth, and the increase in domestic production.

Trump Targets Global Chipmakers With 100% Tariff Threat

Oil & Gas‚ Oil and Gas Industry | intent | August 7, 2025 | Comment off

The tariff would aim to reshape the global semiconductor supply chain by incentivizing onshore production. Notable companies such as Apple, already committing over $100 billion in additional U.S. investments (bringing their total pledge to $500 billion), are being touted as major beneficiaries of this carve?out. Major chipmakers like TSMC—with its new Arizona fab—and Samsung, as well as SK Hynix, are also expected to qualify for exemptions given their current or planned production footprints in the U.S.

April 2023 OPEC+ Tranche ‘Next in Focus’, Analysts Say

Oil & Gas‚ Oil and Gas Industry | intent | August 7, 2025 | Comment off

The total U.S. rig count dropped by two week on week and now stands at 540, according to Baker Hughes’ latest North America rotary rig count, which was released on August 1. Of the total U.S. rig count of 540, 525 rigs are categorized as land rigs, 13 are categorized as offshore rigs, and two are categorized as inland water rigs, the count revealed. The total U.S. rig count is made up of 410 oil rigs, 124 gas rigs, and six miscellaneous rigs, according to Baker Hughes’ count, which highlighted that the U.S. total comprises 471 horizontal rigs, 54 directional rigs, and 15 vertical rigs.

BP Starts Up Argos Extension Project in Gulf of America

Oil & Gas‚ Oil and Gas Industry | intent | August 7, 2025 | Comment off

“The Argos expansion underpins our commitment to investing in America, growing our US offshore energy production safely and efficiently,” Andy Krieger, BP’s senior vice president for the Gulf of America and Canada, said. “This project also kicks off a period of significant growth for BP in the Gulf of America, which will continue to play a critical role in delivering secure and reliable energy the world needs today and tomorrow”.

Santos Advances Pikka Oil Project in Alaska with Module Delivery

Oil & Gas‚ Oil and Gas Industry | intent | August 7, 2025 | Comment off

The Nanushuk play in the Pikka Unit represents one of the largest conventional oil discoveries made in the USA in the last 30 years, and the Pikka Phase 1 project is the most significant development on Alaska’s North Slope in more than 20 years, according to the company. Pikka has low emissions intensity, placing it in the top quartile of oil and gas development projects globally for greenhouse gas emissions performance, the company said.

Energy Transfer to Build $5.3B TX to AZ Natural Gas Pipeline

Oil & Gas‚ Oil and Gas Industry | intent | August 7, 2025 | Comment off

The conduit is set to be the costliest since the $7.85 billion Mountain Valley Pipeline announced in 2014, said Oren Pilant, an analyst at East Daley Analytics. Energy Transfer is evaluating more than doubling the capacity of the project amid stronger-than-expected interest from prospective clients, Co-Chief Executive Officer Tom Long said during a conference call late Wednesday.

Nigeria’s First E&P eyes gas exploration in Tanzania

Oil & Gas‚ Oil and Gas Industry | intent | August 6, 2025 | Comment off

First E&P signed a deal with the Tanzania Petroleum Development Corp. last month for the technical assessment and potential development of the Mnazi Bay North Block in southern Tanzania, near fields where vast gas reserves were found in Mozambique.

Strategists Forecast USA Crude Inventory Build

Oil & Gas‚ Oil and Gas Industry | intent | August 6, 2025 | Comment off

In its latest weekly petroleum status report at the time of writing, which was released on July 30 and included data for the week ending July 25, the U.S. Energy Information Administration (EIA) highlighted that U.S. commercial crude oil inventories, excluding those in the SPR, increased by 7.7 million barrels from the week ending July 18 to the week ending July 25.

Russia Oil Revenue Down by Third in July on Weak Prices, Strong Ruble

Oil & Gas‚ Oil and Gas Industry | intent | August 6, 2025 | Comment off

Still, lower global crude and oil-product prices helped the government to reduce subsidies it pays to Russia’s refiners to partially compensate for the difference in fuel prices at home and abroad, a measure designed to boost gasoline and diesel supplies to the domestic market. In July, the budget transferred 59.9 billion rubles in subsidies, down by 58 percent from a year ago.