by Liam Denning President Joe Biden shouldn’t wait for an invitation to Saudi Arabia so he can get his hands on a luminous orb in the near future. The announcement that the United States will release 50 million barrels from the Strategic Petroleum Reserve (SPR), as part of a broader measure coordinated with other countries, […]
Tag: Petroleum
Biden to announce today the use of its oil reserves to contain prices
Updated 11/23/2021 09:42 am The president of the United States, Joe Biden, will announce this Tuesday that his country will take advantage of strategic oil reserves to help offset an increase in gasoline prices, according to local media. US Executive sources told ABC that the measure will be formally announced by the White House this […]
US discusses joint release of oil reserves with China, points against OPEC +
The governments of some of the world’s largest economies are studying the release of oil from their strategic reserves, following an unusual request from Washington for a coordinated move to cool energy prices ahead of a meeting of major oil producers. The Joe Biden administration has asked a wide range of countries, including China for […]
Chinese government agency defines plan to release oil reserves
Updated on 11/18/2021 10:24 am China’s state reserves agency reported that it is working on the release of oil stocks, although it declined to comment on a request by the United States to the world’s main consuming nations to use their stored inventories to reduce barrel prices. in the international market. China’s National Food and […]
Use of strategic oil reserves, a double-edged sword for Biden
Draw on the strategic reserves of Petroleum is an alternative that resonates strongly in USA to lower oil prices, with a president on the defensive with inflation driven by the cost of gasoline. However, in the midst of a commitment to climate change, the White House is weighing this rarely used strategy whose impact on […]
Eleven governments agree at COP26 to abandon oil and gas production
A coalition of eleven national and subnational governments agreed on Thursday at the UN COP26 climate summit to end the granting of new licenses for the exploration and exploitation of oil and gas in the territories under their jurisdiction. In an initiative promoted by Denmark and Costa Rica, called “Beyond Oil and Gas Alliance“(Alliance Beyond […]
Caracas, memory of a capital at the forefront of the architecture of the 50s
Petroleum, economic boom, great works of the dictatorship: far from the economic crisis and today’s huge slums, Caracas was at the forefront of 1950s architecture, with projects from world-renowned designers. It was a magical decade in which the capital of Venezuela saw the birth of some of its great jewels: the campus of the Central […]
Venezuela reduces oil target and abandons Maduro’s ambitions
Venezuela’s state oil company cut its production target by a third as years of corruption, brain drain and inadequate investment crippled the country’s energy infrastructure. PDVSA cut its daily production target to one million barrels from a 1.5 million barrel target announced in January, according to a company document seen by Bloomberg News and a […]
US prepares to sell oil and gas leases
Updated on 02/11/2021 04:17 pm Joe Biden’s administration is poised to sell oil and gas leases on vast stretches of public lands in the western United States, despite the Interior Department’s conclusion that doing so could cost society billions of dollars in impacts for climate change. Officials announced last week that government regulators will analyze […]
China taps oil reserves, refineries increase production to avoid diesel shortage
China announced that it will use its state fuel reserves, paving the way for refineries to continue to dramatically increase production to avoid a diesel shortage in the world’s second largest oil consumer. In a rare public statement on Sunday, China said it will release gasoline and diesel reserves to boost market supply and stabilize […]