RP Weekly Recap | September 26 – 30
In the latest development of Russia’s Nord Stream Pipeline, two explosions in the Nord Stream 1 and 2 pipelines in the Baltic Sea resulted in what could amount to the largest-ever single release of methane gas into the atmosphere. “At least two detonations occurred underwater, damaging the pipelines belonging to Nord Stream 1 and 2, causing major leaks of natural gas into the Baltic Sea,” the countries’ permanent missions to the United Nations said. But, in a recent speech to mark the annexation of four Ukrainian regions invaded by Russian forces, Russian President Vladimir Putin on Friday blamed the United States and its allies for blowing up the undersea Nord Stream pipelines, raising the temperature in a crisis that has left Europe racing to secure its energy infrastructure and supplies. Check out this story and more in this week’s recap of all things happening in oil and gas!
- Number of Cases (Worldwide): 617,451,613 (up from 594,299,299 last week)
- Number of Cases (USA): 96,354,363 (up from 93,406,620 last week)
- Statistics courtesy of Johns Hopkins
Financial & Economic Updates
U.S. Oil Market News
- Judge Permanently Blocks Biden Oil and Gas Leasing Pause in 13 States
- The United States Eported Record Amounts of Petroleum Products in the First Half of 2022
- U.S. Refiners Eye Canadian Oil Once SPR Turns Off Taps
- California Consumers Respond to Appeals for Electricity Conservation During Heat Wave
- Private Oil Drillers Are Hitting Their Limits
- Advances in Technology Led to Record New Well Productivity in the Permian Basin in 2021
- Electric Bills Soar Across the Country as Winter Looms
Global Market News
- Nord Stream Gas Leaks Caused by “Several Hundred Kilos of Explosives”
- Russia to Keep Nord Stream Pipeline Shut, Citing Mechanical Problems
- Russia Cuts Off Gas Exports to Europe via Nord Stream Indefinitely
- G7 Ready To Reveal Its Russian Oil Price Cap Plan
- For the First Time Ever, Clean Energy Jobs Outnumber Those Involved in Producing, Transporting, and Burning Fossil Fuels
- Why is Russia Sending Oil and Gas Workers to Fight in Ukraine?
- Germany Readies Energy-Price Caps as Economic Pain Mounts
- Germany to Nationalize Ailing Uniper After Russian Natural-Gas Cuts
- Russia At The Forefront Of Development Of Huge Iranian Oil Fields
- 315K Jobs Added in August, Unemployment Rate Ticks Up to 3.7% – the number may foreshadow some slowing of the job market and will be closely scrutinized by the Federal Reserve
United States Rig Count
- Up (1) from last week for a total of 765
- Up 44.8% from one year ago
- Statistics courtesy of Baker Hughes
RARE PETRO Updates
Content Updates – News Pulse – Podcast
- A New Basin Breakdown for the month of August is available now! Be sure to check out the latest articles and Basin Breakdown Podcast!
- If you live in America, chances are you have noticed a rising cost of goods and energy. While an energy crisis does grip most of the world right now, the context is different for every county. The United States is a special case in the global community as it contains an absurd amount of hydrocarbon resources, though it refuses to produce them in a time of record-high gasoline prices. This Periodical will do its best to highlight just why we are struggling with high energy prices in a way that anyone can understand.
- Grab a drink and join us for our newest segment, Thirsty Thursday: An Inventory Report to see if we’ve been poured another tall glass of crude and whether or not the U.S. was thirsty enough to suck down another round.
- As Always, A New Monday Madness Podcast!
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