The EU is set to propose a Russian oil embargo, but Putin ally Hungary pushes back: 'It makes no sense'
The European Union is gearing up to propose a full Russian oil embargo, but Hungary has threatened to...
The European Union is gearing up to propose a full Russian oil embargo, but Hungary has threatened to block it.
"Since decisions require unanimity, it makes no sense for the commission to propose sanctions affecting natural gas and crude oil that would restrict Hungarian procurements," Cabinet Minister Gergely Gulyas told HirTV Sunday.
Pa. gas drillers use third-party monitoring companies
Some energy companies in Pennsylvania are hiring independent third parties to monitor production and...
Some energy companies in Pennsylvania are hiring independent third parties to monitor production and confirm that their operations are meeting government standards. Pennsylvania Independent Oil & Gas Association President and Executive Director Dan Weaver said the process is part of a new gesture in responsibly sourced gas and those that "want to be good neighbors by holding themselves to a high standard can now have a third party certify that they are doing what they say they are doing."
Natural gas futures inched higher this morning, trading up 19 cents at $7.43, as parts...
Natural gas futures inched higher this morning, trading up 19 cents at $7.43, as parts of the country move from heating demand to cooling demand, which could increase the amount of gas power generators burn to meet air conditioning loads and keep storage injections lower than usual in coming weeks.
The energy sector is set for a lower start, pressured by weakness in the...
The energy sector is set for a lower start, pressured by weakness in the crude complex and the major market futures. U.S. stocks fell and the dollar held near record highs as concerns about economic growth lingered ahead of an expected U.S. rate hike this week and data showed COVID-19 lockdowns have slowed down China’s factory activity.
WTI and Brent crude oil are down in early trading as concerns over weak economic growth in China overshadowed fears of a potential European ban on Russian crude which could increase supply constraints. As a result of ongoing COVID-19 lockdowns, China released data on Saturday showing that factory activity in the world's second-largest economy contracted for a second month to its lowest since February 2020.
Chevron raised its Permian Basin operations growth forecast to 15% from 10% as the company continues to recover from the COVID-19 pandemic. In the last quarter, production in the Permian Basin grew to 692,000 barrels of oil equivalent per day and is expected to grow to 700,000 to 750,000 boe/d for all of 2022.
