Russia said on Monday that it was ending an agreement that had...
Russia said on Monday that it was ending an agreement that had allowed Ukraine to export its grain by sea despite Moscow’s naval blockade, upending a deal that had helped to keep global food prices stable and alleviate one element of the global fallout from the war.
Ukraine is a major producer of grain and other foodstuffs, and the United Nations secretary general, António Guterres, said he was “deeply disappointed” by the decision. Millions of people who face hunger, or are struggling, as well as consumers around the world facing a cost of living crisis, will “pay a price,” he said.
"Today’s decision by the Russian Federation will strike a blow to people in need everywhere,” he told journalists.
A Kremlin spokesman, Dmitri S. Peskov, told journalists earlier on Monday that the agreement was “halted.”
The Strategic Petroleum Reserve is at its lowest level since 1983 after President Joe Biden authorized the sale of 180 million barrels in 2022 as prices spiked, and now the reserve has the equivalent of 18 days' worth of supplies. Refilling the reserve "could take decades" as prices remain high, the DOE budget to repurchase oil has been reduced, and the Gulf Coast salt cavern that was built with a 25-year life span has been used for nearly 50 years.
US natural gas futures are down 2 cents Monday and holding near a three-week low as hot weather in the...
US natural gas futures are down 2 cents Monday and holding near a three-week low as hot weather in the Northeast is expected to abate. Liquified natural gas export facilities see gas flows still below April's record as Cheniere Energy's Sabine Pass in Louisiana and Corpus Christi in Texas undergo maintenance.
BP Energy Partners Sells Interests in Mesa Natural Gas Solutions
BP Energy Partners LLC sold its interest in...
BP Energy Partners LLC sold its interest in portfolio company Mesa Natural Gas Solutions LLC to a different investment group.
BP Energy Partners, originally sponsored by legendary oilman T. Boone Pickens, sold ownership of Mesato Houston-based investment manager Arroyo Investors, the companies said in separate news releases.
Financial terms of the transaction between BP Energy Partners and Arroyo were not disclosed.
Mesa, headquartered in Loveland, Colorado, provides portable power generation products that use wellhead natural gas to mitigate waste and flaring associated with emissions.
IEA: Permian, Bakken, Eagle Ford Hit Record NGL Production
Associated light, tight oil production in the Permian Basin,...
Associated light, tight oil production in the Permian Basin, Eagle Ford Shale and Bakken was the main driver in NGL hitting a record high of 6.4 MMbbl/d in April, according to the International Energy Agency’s (IEA) July Oil Market Report.
U.S. NGL production was so substantial, it ranked as the fourth largest liquids producer globally.
The report says that U.S. tight oil accounted for 780,000 bbl/d of 2023 gains and represented 94% of the growth in U.S. crude. The U.S. NGL production surge drove propane pricing down to a level competitive with petrochemical feedstock ethane.
