Updated on 12/29/2021 04:25 pm Industry executives Petroleum and gas from U.S expect increased production and drilling activity in 2022 as barrel prices rise, but say they face much higher costs, according to a survey released by the Federal Reserve (Fed) from Dallas. About 49% of executives surveyed said they aim to expand production in […]
Tag: Petroleum
SNMPE asks the head of Minem to appoint his deputy minister of Hydrocarbons
The National Society of Mining, Oil and Energy (SNMPE) asked the Minister of Energy and Mines, Eduardo Gonzáles Toro, to appoint the Vice Minister of Hydrocarbons, a sector that since the end of October has no head and has only been entrusted to the Vice Minister of Mines. Through a letter signed by Pablo de […]
“Environmental injustices” in the US
Michael Coleman’s house is the only one that still stands on a narrow street that sits between an oil refinery. Petroleum that keeps him from sleeping and a huge silo that covers his truck in dust and aggravates his respiratory problems. Coleman, who is 65, points to the fireplace by his patio. “When the (industrial) […]
California should reduce consumption of oil extracted from the Amazon rainforest, according to NGO
The state of California (United States) must eliminate or significantly reduce the consumption of oil extracted from the Amazon rainforest to protect the ecosystem, vital to curbing the effects of climate change, from further degradation, said two non-governmental organizations (NGOs) in a report. US Energy Information Administration import data and shipping records helped Stand.earth and […]
US could change oil reserve release schedule if prices fall: official
Updated on 12/01/2021 02:41 pm The government of Joe Biden could adjust the timing of its planned release of strategic crude reserves if world energy prices fall substantially, said the Undersecretary for Energy of USA, David Turk. He added that other consuming countries that had agreed to release strategic reserves in concert with the United […]
OPEC + Alliance expects growing excess crude supplies in 2022
Updated on 12/01/2021 01:27 pm The OPEC + alliance foresees a growing glut of oil supplies in 2022, with the highest rates between January and March next year, according to a document from the group’s technical committee published on Wednesday. Experts believe that the surplus will be 1.7 million barrels per day (mbd) on average […]
Oil companies paid more than US $ 899 million in royalties until October of this year
The National Society of Mining, Oil and Energy (SNMPE) reported that between January and October of this year, companies that work in the hydrocarbon sector paid a total of US $ 899 million 700 thousand to the Peruvian State for royalties. This figure represented a growth of 140% compared to the US $ 375 million […]
China-US oil codependency it is unavoidable
David Fickling By the way that China and USA are working hand in hand to free crude from their strategic reserves of Petroleum and to reduce the tension in the oil market a bit, one might think that the two largest energy consumers in the world found an area in which they can cooperate. In […]
OPEC + closely follows new variant of COVID-19, some worried about outlook
Updated on 11/26/2021 02:24 pm OPEC + closely monitors the information about the new variant of the coronavirus COVID-19, called “omicron” by the World Health Organization (WHO), sources said, and some countries expressed concern that the prospects for the oil market could worsen , less than a week before a meeting to establish the group’s […]
OPEC estimates release of reserves will increase global crude surplus in first quarter
Updated on 11/24/2021 07:05 pm The advisory body of the Organization of the Petroleum Exporting Countries (OPEC) expects a release of crude reserves by the United States and other consuming countries will expand a projected global surplus early next year, Bloomberg reported, citing a document it did not identify. The OPEC Economic Commission Board projects […]