Real-time energy intel on oil & gas markets.
Houston, Texas
Joined May 2025
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U.S. TARGETS IRAN OIL MONEY NETWORK
Treasury sanctioned a Turkish bank and two units it says moved Iranian oil revenue from China into Turkey for conversion to cash and gold.
Treasury says the network handled tens of millions of dollars.
Source: U.S. Treasury, Reuters
ROSNEFT: CHINA CUT OIL IMPORTS BY 5.5M BPD
CEO Igor Sechin says Beijing has built ~1.4B barrels of inventories and taken the lead from OPEC in stabilizing oil markets.
– Reuters
SHELL CLOSES $16.5B ARC RESOURCES DEAL
The acquisition adds ~370 kboe/d and ~2B boe of 2P reserves in Canada’s Montney.
Shell now controls nearly 2M net acres across one of North America’s key gas and liquids basins.
– Shell
TOTALENERGIES TAKES CONTROL OF A GIANT NAMIBIA OIL DISCOVERY
TotalEnergies completed its 40% operated entry into Mopane, estimated at ~1.3B boe.
A 3-well campaign begins in Q4 as Namibia moves closer to becoming a major oil producer.
– TotalEnergies
THE LARGEST U.S. GRID IS UNDER EMERGENCY CONDITIONS
PJM serves 67 million people. The DOE authorized backup generation as extreme heat raises blackout risk.
America’s power-demand problem is arriving faster than new supply.
– Reuters
OPEC+ IS DONE ADDING BARRELS - FOR NOW
The group is expected to hold October output steady after unwinding 1.65 million bpd of cuts.
The next fight is over 2027 quotas, and who gets to pump more.
– Reuters
CHEVRON IS DOUBLING DOWN ON VENEZUELA
Chevron plans to invest $7B+ over five years and more than double output to ~600,000 bpd.
That could add ~300,000 bpd of heavy crude for U.S. refiners.
BREAKING: TWO SUPERTANKERS CARRYING 4 MILLION BARRELS OF SAUDI OIL WERE HIT NEAR HORMUZ
The vessels were struck by projectiles minutes apart while exiting the Strait.
Hormuz carried roughly 20% of global oil supply before the current blockade.
Brent is now up ~4%.
- Reuters
U.S. TO REFILL THE SPR WITH VENEZUELAN OIL
Trump says crude from the new Venezuela deal will help refill America’s Strategic Petroleum Reserve.
That adds a new source of U.S. oil demand while deepening Venezuela’s role in American energy security
- Reuters
RUSSIA EXTENDS DIESEL EXPORT BAN
Moscow will restrict diesel, marine fuel and gasoil exports through Sept. 30 as refinery outages persist.
Russia is the world’s No. 2 diesel exporter. Fewer Russian barrels could tighten global distillate supply into fall.
Source: Reuters
BREAKING: TRUMP SAYS U.S. SECURES CONTROL OF 65+ BILLION BARRELS OF VENEZUELAN OIL
The agreement gives the U.S. majority control of the reserves through a partnership with private industry, per Trump.
Trump calls it the “biggest oil deal in world history.”
Linq Energy News retweeted
Despite the comment by Trump about China now being able buy Iranian crude, there are no signs that there will be a lifting of U.S. sanctions. #OOTT
Linq Energy News retweeted
US President Donald Trump:
"Iran has a huge advantage ... they have great oil"
#OOTT
Linq Energy News retweeted
🇨🇳🏭⛽️ Chinese oil demand has been garbage recently, but this latest bounceback in state-owned refinery utilization is a promising sign of demand pulling back from its current brink.
Latest data for June shows run rates exceeding even the booming levels of 2023 (right chart)
Linq Energy News retweeted
🔵We have sufficient oil supplies in the market, but nothing bearish except the sentiment in the last two days as the news of a ceasefire leaked to the market.
🔵As US crude oil inventories drop toward 405 million barrels, oil prices will rise.
🔵An official US-China trade deal would reverse the bearish sentiment.
🔵OPEC+ supplies (exports) in June are rising, but only by about 40 kb/d above March levels, while the group of eight in OPEC+ increased their "production ceiling" by 960 kb/d in April, May, and June. Supplies form the Americas have also decreased, especially brazil.
Linq Energy News retweeted
BREAKING:
Shell is holding early stage talks to acquire rival BP, according to The Wall Street Journal. The WSJ says talks between company representatives are active, and BP is considering the approach carefully.
#OOTT $BP $SHELL
wsj.com/business/energy-oil/…
