In the coming weeks, Kurdistan’s oil and gas sector faces a pivotal moment that could reshape the region’s geopolitical landscape. Since March 25, 2023, the Kurdistan Regional Government (KRG) and the Iraqi federal government have struggled to resume oil exports from Kurdistan, following a ruling by the International Chamber of Commerce (ICC) arbitration court.
The market hasn’t seen the full impact of Saudi Arabia’s extra production cut, which could lead to a drastically tighter market if the world’s top crude oil exporter keeps export levels low, according to Vortexa.
MEXICO CITY, Sept 7 (Reuters) – Energy companies Chevron and Repsol decided to quit offshore oil and gas exploration areas in Mexico, the regulator for the sector said on Thursday, joining more than a dozen other companies after disappointing results.
Expanding oil and gas operations drove state economists to forecast New Mexico’s General Fund would grow by about a billion dollars annually for the next two years, according to the latest economic outlook by the Legislative Finance Committee.
JUNEAU, Alaska (AP) — In an aggressive move that angered Republicans, the Biden administration canceled the seven remaining oil and gas leases in Alaska’s Arctic National Wildlife Refuge on Wednesday, overturning sales held in the Trump administration’s waning days, and proposed stronger protections against development on 13 million acres in the National Petroleum Reserve-Alaska.
BRUSSELS, Sept 8 (Reuters) – The European Union has no short-term plan to ban Russian liquefied natural gas (LNG) despite soaring imports to the bloc, Spain’s energy minister said, citing fears of another price spike.
Crude oil prices ticked up today, after the U.S. Energy Information Administration reported an inventory draw of 6.3 million barrels for the week to September 1.
Moldova’s energy minister says the government will propose that Moldovagaz, a subsidiary of Gazprom, pay the Russian gas giant $8.6 million to settle a debt that Gazprom says is more than $700 million.
Europe’s switch from pipeline gas to LNG is reshaping the global LNG market, putting a permanent floor under prices.
A Bloomberg report that workers on Chevron’s Gorgon and Wheatstone LNG projects have delayed strike action until Friday is being viewed as a sign talks are going well, as strikes were meant to begin Thursday. The positive conclusion to last week’s talks between Woodside and unions is another indication the worst-case scenario is unlikely.