Ukraine-Russia Crisis

North Dakota oil and natural gas producers are facing multiple roadblocks to increasing production amid a historically tight global oil market, the state’s top regulator said this week. Department of Mineral Resources (DMR) director Lynn Helms discussed the challenges, along with the state’s production, drilling, permitting and natural gas flaring statistics for January, in his…

Norwegian regulators have approved revised production permits allowing Equinor ASA and its partners to continue pumping natural gas near maximum levels for export to Europe, as the continent looks to cut its dependence on Russian supplies.  Fields on the Norwegian Continental Shelf have been operating near maximum capacity amid strong demand and a war between…

Despite Western sanctions against Russia, the country may become closer energy partners  with India after the two governments recently discussed the potential for further oil and gas deals. Russian Deputy Prime Minister Alexander Novak and India’s Minister of Petroleum and Natural Gas Hardeep Singh Puri talked last week about current and potential joint energy collaborations…

Despite calls for increased output amid Russia’s invasion of Ukraine and threats to global supplies, U.S. crude exploration and production (E&P) companies have not moved an inch. Production was flat last week, extending a long-running trend, the Energy Information Administration (EIA) said Wednesday. Production for the week ended March 11 held firm at 11.6 million…

Natural gas futures dived lower for a second straight session on Tuesday amid warmer weather patterns and the potential for storage injections over the coming weeks. The April Nymex gas futures contract settled at $4.568/MMBtu, down 9.0 cents day/day. May fell 8.5 cents to $4.617. NGI’s Spot Gas National Avg. shed 17.0 cents to $4.075…

RWE AG said Tuesday it would not sign new energy supply contracts with Russian counterparties, joining a list of companies that have halted business as sanctions increase following the Kremlin’s decision to invade Ukraine.  RWE, a major German energy provider, also said it would end non-energy supply business with Russian entities immediately.  In keeping with…

Global oil demand this year was tracking to a strong recovery, fueled by demand in goods and services, but the Russian incursion into Ukraine has upended all forecasts and there is no clarity in the near term, according to energy experts.  In OPEC’s Monthly Oil Market Report (MOMR) issued Tuesday, the Saudi-led cartel noted that…

The global liquefied natural gas (LNG) trade is predicted to grow to 2050, lifted by emerging economies and the shift to lower carbon fuels, according to BP plc. The integrated major’s latest annual forecast, Energy Outlook 2022, explores the uncertainties surrounding the energy transition to a carbon-free world using Accelerated, Net Zero and New Momentum…

Natural gas prices fell across the globe as the week got underway, tempered by another round of talks between Russia and Ukraine, along with milder weather in key markets.  In Europe, the Title Transfer Facility (TTF) continued to fall Monday, coming off a record high early last week of $72.765/MMBtu. Negotiations to end the conflict…