** The cancellation of three offshore drilling lease sales this week has injected a degree of uncertainty into the future of offshore drilling reported The Hill. The canceled auctions mean there are no sales now scheduled, and it’s unclear precisely when that will change. The Interior Department is working on a new leasing plan, but it has not said when that will be issued.
** U.S. Treasury officials said on Tuesday they plan to propose at this week’s G7 finance meeting that European countries impose tariffs on Russian oil, as a faster alternative to an outright oil embargo.
** The amount of crude oil in the U.S. Strategic Petroleum Reserve (SPR) dropped by 5 million barrels in the week to May 13, data from the U.S. Department of Energy showed.
** Eliminating air pollutants generated by energy-related activities in the U.S. could prevent more than 50,000 premature deaths and save the economy more than $600 billion each year, a new study published in GeoHealth has found.
** UGI Energy Services, LLC, a subsidiary of UGI Corporation announced an agreement with MBL Bioenergy to fully fund the first set of renewable natural gas projects currently under development in South Dakota. The $70 million investment will be used to transport RNG from dairy waste at 3 dairy farms.
** Chevron Corporation announced a contribution of $250,000 from the Chevron Global Community Fund to the All Together NM Fund and Taos Community Foundation to support relief efforts for wildfires in New Mexico.
** Tellurian Inc. announced that Chief Operating Officer Keith Teague is retiring from full time employment and will continue with Tellurian in an advisory role. Tellurian has hired former McDermott International, Ltd Executive Vice President and COO Samik Mukherjee who will serve in the role of Executive Vice President and President, Driftwood Assets.
World
** Russia became the fourth-largest oil supplier to India in April, with volumes set to rise further in coming months as low prices spur demand from the world’s No. 3 oil consumer and importer, tanker tracking data showed.
** Expensive offshore exploration setbacks for international oil majors including Shell Plc and Exxon Mobil Corp. are throwing cold water on their plans to turn Brazil into a profit center.
** Iraq’s oil ministry thwarted three prospective deals last year that would have handed Chinese firms more control over its oilfields and led to an exodus of international oil majors that Baghdad wants to invest in its creaking economy.
