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• Permian Basin oil permit issuance up over 20% in July
  The total number of drilling permits issued for the Permian Basin during July increased to 1,526 –...
  The total number of drilling permits issued for the Permian Basin during July increased to 1,526 – up 273 or nearly 22% – driven by the rising price of West Texas Intermediate crude. The Basin now accounts for some 40% of all permits issued in the US, while the Texas Eagle Ford shale play makes up 13%, Evercore analysts wrote in a note.
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• US to release 20M barrels of oil from strategic reserve
  The United States government will release 20 million barrels of oil from its Strategic Petroleum Reserve...
  The United States government will release 20 million barrels of oil from its Strategic Petroleum Reserve for sale to a total of nine oil companies. This latest move follows the announcement in June of daily releases of an unprecedented 1 million barrels per day from the SPR between May and October.
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• A new European gas pipeline link could be ready in 9 months as support builds to bypass Russian supplies
  A new European gas pipeline link could be ready in less than a year as the continent moves to minimize...
  A new European gas pipeline link could be ready in less than a year as the continent moves to minimize its reliance on Russian supplies amid a worsening energy crisis.
  
  On Friday, Spain's energy and environment minister told local media that a segment of the pipeline from Spain to France could be ready in nine months and boost gas export capacity by 20% to 30%, according to a Financial Times.
  
  On Thursday, German Chancellor Olaf Scholz voiced support for a new pipeline, adding that he had discussed it with leaders from Spain, Portugal, and France, as well as European Commission president Ursula von der Leyen.
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• Total US Oil & Gas Rig Count Declines
  U.S. energy firms this week cut the number of oil and natural gas rigs for a second week in a row as...
  U.S. energy firms this week cut the number of oil and natural gas rigs for a second week in a row as the rig count, an early indicator of future output has been slow to grow with oil production only seen recovering from pandemic-related cuts next year.
  
  The total U.S. oil and gas rig count fell by one to 763 in the week to Aug. 12, while oil rigs rose three to 601 this week, and gas rigs fell one to 160.
  
  That was the first time the rig count fell for two consecutive weeks since August 2020.
  
  Baker Hughes said that puts the total count up 263 rigs, or 53%, over this time last year.
  
   
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• What Else is Brewing This Friday Morning
  McDonald’s is preparing to reopen locations in Ukraine after closing them following Russia’s invasion.
  
  Major publishers are buying ads in mobile games like Subway Surfers to juice traffic. It’s considered a deceptive practice in the industry.
  
  Amazon is expanding its palm-scanning payment tech to more than 65 Whole Foods locations in California.
  
  Activist investor ValueAct has taken a 6.7% stake in the New York Times, and is pushing the company to roll out more bundles exclusively for subscribers.
  
  
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