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The Xinjiang branch of PetroChina National Petroleum Corporation reported data on oil and gas production.

California Gov. Gavin Newsom proposed imposing a limit on the gross gasoline refining margin. An upper limit has yet to be set in cents per gallon. According to Newsom’s proposal, oil companies would be penalized if the margin exceeds the price ceiling.

For the second month in a row, Saudi Aramco, Saudi Arabia's national oil company, is reviewing its prices for the United States, keeping them at record highs. Meanwhile, the unspoken rule of no price decreases has been in effect since November 2021.

Chevron Chairman and CEO Mike Wirth discussed Joe Biden's claims regarding the oil industry.

This year, the offshore rigs were in high demand. Meanwhile, the number of these rigs in the US decreased.

Natural gas deliveries are still severely hampered due to frozen wells and pipelines after Winter Storm Elliott. BloombergNEF published an estimated forecast based on past pipeline supply volumes.

As it was stated by the Marubeni corporation last Thursday, an offshore wind farm set in the port of Noshiro started operating on a basis of the government’s special program for renewable energy.

On Tuesday, in anticipation of the borders’ opening, Chinese travel sites reportedly experienced an influx of customers. Due to the COVID restrictions, China has been isolated from the rest of the world for three years.

French financial newspaper Les Echos said that global markets are nervous in anticipation of Russia’s response to the new European sanctions. The EU embargo on purchase of Russian oil was imposed in early December, as well as a price cap for these purchases.

After recent evaluation work, Turkey increased its estimate of natural gas reserves in the Black Sea by almost a third, Turkish President Recep Tayyip Erdogan announced.