Energy & Climate

World Bank Warns Oil Demand Destruction Is Spreading Globally Amid Strait of Hormuz Disruptions

World Bank warns Strait of Hormuz disruptions and Middle East conflict are causing a global oil shock suppressing energy demand globally this year.

DOJ Sues Minnesota to Block Climate Lawsuit Targeting Energy Companies

The U.S. Department of Justice (DOJ) is suing Minnesota over the state’s own climate lawsuit against major energy companies.
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OPEC+ Approves 3rd Oil Output Increase as Hormuz Tensions Persist

OPEC+ said Sunday that seven member countries will raise oil output targets by 188,000 barrels per day in June.

US Exports of Crude and Petroleum Products Hit Record Highs

America’s energy exports have hit record highs as the world navigates the uncertainty surrounding oil and gas shipments through the Strait of Hormuz.

Chevron Agrees on Asset Swap in Venezuela to Focus on Heavy Oil Projects

Chevron reached agreements with the Venezuelan government to expand its operations in the world’s largest extra-heavy crude oil field, the Orinoco Belt.

9th US LNG Plant Begins Operations in Race to Replace Production Lost in Iran War

Golden Pass LNG has begun production and is set to export LNG soon, helping offset global shortages after Iran damaged Qatar’s export capacity.

US Energy Regulator Says Iran War Underscores Urgency in Expanding Nation’s Pipeline Network

The bottleneck in the Strait of Hormuz is disrupting the global economy, highlighting the urgent need for expanded U.S. infrastructure, especially pipelines.

Energy Secretary Directs Oil Company to Resume Operations in California, Citing National Security

Energy Sec. Chris Wright directed the Texas-based oil company Sable Offshore Corp. to restore operations in water off southern California.