March 1, 2023 – Natural Gas Intelligence
American E&Ps Maintain Pandemic-Era Peak Oil Production; Inventories Mount
By Kevin Dobbs
U.S. crude output last week held at robust levels as American exploration and production (E&P) companies remained active to bolster domestic supplies and help meet global demand…
Read the full article here: https://www.naturalgasintel.com/american-eps-maintain-pandemic-era-peak-oil-production-inventories-mount/
…Additionally, as RBN Energy LLC analyst Jason Lindquist noted in a report this week, sanctions against Russia extend well beyond its energy complex, infiltrating other sectors vital to its economy such as agriculture and banking.
The “momentum working against the Russian economy is only going to build in the months and years ahead,” Lindquist said. “Russia’s oil and products sector will face continued challenges from a lack of market access, especially for refined products, but that’s just part of the story. It also faces a future in which its access to Western technology is reduced, as Russia will find it difficult to replace some equipment internally, with the lack of specialized equipment…likely to hamstring operations.
“On top of all that,” Lindquist added, “brain drain is a real issue, with many of Russia’s best workers opting to flee the country, potentially creating a shortage of technical know-how. All told, that leaves a Russia that is less efficient, has a diminished capacity to invest in its own infrastructure and upgrade its refineries, and has less ability to produce and market finished product streams – with little chance of any of that changing for the better in the years ahead. This creates a growing market vacuum” that the United States “may be well-positioned to fill.”.…
