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Exclusive: Western Insurers Provide Cover for Russian Oil Despite Price Cap Concerns

CDN and International News, Conventional Energy, Latest, Oil / By

Summary Insurers cover Russia oil cargoes if sold below $60/bbl Russia Urals crude sold for $69.4/bbl so far this year-LSEG data Insurers, ship owners not expected to investigate the price Rely on ‘attestations’ from parties to Russian oil trade Top insurer group says process is ‘flawed’ (Reuters) – A group of Western insurers have provided …

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Harbour Energy Posts First-Half Profit, Narrows FY Production Outlook

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Harbour Energy posts first-half profit, narrows FY production outlook Aug 8 (Reuters) – Harbour Energy, the largest British North Sea oil and gas producer, reported a net profit for the first half of the year from a year-earlier loss and narrowed its full-year 2024 total production outlook on Thursday. Following a spike in energy prices …

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Explainer: What happens if Russian Gas Transit via Ukraine Stops?

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(Reuters) – Heavy fighting near the Russian town of Sudzha, where Russian gas flows into Ukraine, has raised concerns over a sudden stop to transit flows via Ukraine before a five-year deal with Russia’s Gazprom  expires. The Ukraine gas transit route enables Russia to export gas to Europe via Ukraine. The transit deal is set …

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Equinor Exits Suriname, Further Concentrating Company’s Oil Portfolio

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(Reuters) Equinor has withdrawn from a Hess-operated deepwater oil and gas exploration block off Suriname and exited the South American country, a spokesperson for the Norwegian company said on Wednesday. The exit aligns with Equinor’s strategy to focus on producing oil and gas in a few core areas, such as Norway, the U.S. Gulf of …

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INFOGRAPHIC: The Countries Using the Most Energy per Capita – Visual Capitalist

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By Kayla Zhu | Graphics/Design: Sabrina Lam Top Countries by Energy Consumption Per Capita in 2023 This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources. Global energy consumption has significant regional variations due to differences in …

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Bad Government Policy Made Venezuela’s Downfall Inevitable – Fraser Institute

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By Matthew D. Mitchell In 1970, Venezuelans were the wealthiest people in Latin America. With annual incomes comparable to those of the Finns and the Japanese, they earned two-and-a-half times what the average Latin American earned. Their wealth bought them longer life, lower infant mortality and some measure of safety. But today, as the United …

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French Imports of Russia’s Liquified Natural Gas Surge, and Ukraine Supporters Seek a Stop

CDN and International News, Conventional Energy, Latest, LNG / By

Shipments of Russian liquified natural gas to France more than doubled the first half of this year, according to new analyses of trade data, at a time when Europe has tried to pull back from energy purchases that help finance the Kremlin’s invasion of Ukraine. Europe has restricted oil imports from Russia, but natural gas …

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Aramco CEO Says Oil Demand Is Strong and Recent Selloff Was Overreaction

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Saudi oil giant sees demand “north of 106 million b/d” in 2025 “Robust” oil use points to “fairly healthy” market: CEO The selloff in global oil markets on perceived bad economic news was overdone because demand remains strong, according to top crude exporter Saudi Aramco. Brent crude dropped to almost $75 a barrel on Monday, …

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Brent likely to Hold $75/Bbl Floor Despite Macro Fears, Goldman Says

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Brent crude prices are likely to stay above $75 per barrel as the oil market will withstand macro recessionary fears and find support in the coming weeks, Goldman Sachs said on Monday. Limited recession risk, strong demand in the West and from India, and very low speculative positioning having room to recover will support oil …

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U.S. Recognizes Maduro’s Opponent as Winner in Venezuela Election

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The United States on Thursday recognized Venezuelan President Nicolas Maduro’s opponent and opposition candidate Edmundo Gonzalez as the winner of Venezuela’s disputed presidential election, rejecting Maduro’s claim of victory. “Given the overwhelming evidence, it is clear to the United States and, most importantly, to the Venezuelan people that Edmundo Gonzalez Urrutia won the most votes …

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