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Mexico’s Pemex payment crisis: suppliers threaten July shutdown

Oil & Gas 360º

(BOE Report) – The Mexican association that groups major global oil services companies warned that it is going through an “unprecedented crisis” due to the lack of payments from the state-owned oil company Pemex, the world’s most indebted energy company.

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What is the Iraq-Turkey oil pipeline dispute and who's on the hook?

Energy Central

According to the federal government of Iraq, only SOMO, a state-owned marketing company, is authorized to oversee crude exports through Ceyhan.

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Weak refinery, export demand weakens prices for Midland crude along Texas coast

Oil & Gas 360º

Net input of crude oil to refiners on average over 4 weeks to the last week was 15.5 Also capping demand was the final shutdown ofLyondellBasell Industries(NYSE: LYB ) 263,776 barrel-per-day (bpd) Houston refinery this month. million, 4.2% lower than average 2024 levels.

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AI in Oil and Gas – A Game-Changer for Efficiency and Profitability

Aresco

By continuously monitoring machinery performance, AI enables companies to address maintenance issues before they escalate, preventing costly shutdowns and enhancing overall safety. These AI-driven simulations allow oil and gas companies to test scenarios and optimize asset performance without risking real-world failures.

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EPA Proposes Modifications to Oil & Gas Air Pollution Standards

The Energy Law

EPA is also proposing VOC emissions limits for gas-driven pneumatic devices, equipment standards for centrifugal compressors, operational standards for reciprocating compressors, and a 95% VOC emission reduction requirement for some condensate and crude oil storage tanks.

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Oil bulls bite back as prices defy expectations

Oil & Gas 360º

The eight members of OPEC+ that were keeping their production of crude oil under restraints agreed on Saturday to add another 411,000 barrels daily to their combined total in July after making identical agreements for May and June. Prices, however, did something that not everyone expected them to do: they went up.

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Oil’s oversupply spiral: Can prices stay above $60?

Oil & Gas 360º

Two refineries one in Los Angeles and another in Houston are slated for a shutdown in 2025, which would leave more crude available on the market. According to the chief executive of Vitol, Russell Hardy, the current developments in supply and demand could push oil prices consistently lower, to between $60 and $80 per barrel.

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