Libya pumped 1.12 million b/d in April, a fall of 70,000 b/d from March.

“Officials in the Philippines have endorsed a rapid buildout of LNG import infrastructure due to the anticipated depletion of the Malampaya deepwater development, the country’s only domestic source of natural gas, and high GDP growth expected over the next decade,”

Germany will now aim for a 65% cut in carbon emissions by 2030 and net zero by 2045, up from a previous 55% for 2030 and net zero by 2050.

Currently, renewables form 10% of India’s total power generation and that share will increase to 31% by 2030 with 450GW coming online.

The government has said it will grant a total of 5 billion euros in subsidies in 2021 for technologies that will help it achieve its climate goals.

The gist of the technical case for CCS in a hydrogen economy is that, so long as fossil fuels are available and deliver a high energy return on energy invested (EROEI), it is inherently cheaper and more efficient to produce hydrogen from fossil fuels by reforming, rather than by electrolysis of water.

U.S. Rig Count is up 8 from last week to 448, Canada Rig Count is up 4 from last week to 55,

Brent fwere up 1 cent at $68.12 a barrel. WTI eased by 2 cents to $64.69.

Russia, the largest non-OPEC partner in the alliance, has increasingly flouted its cap over the last several months, with its excess production soaring to 877,000 b/d.

Methane is significantly more polluting than carbon dioxide, with estimates suggesting it is 84 times more potent than CO2 over a 20-year timeframe.