Nigeria's Dangote refinery, built at a cost of $20 billion and is Africa's largest, has started exporting naphtha to North Asian markets at a time when the clean tanker market is witnessing prolonged firmness. The naphtha flow from Dangote is adding to the ton-mile demand in the clean tanker sector and this could be boosting the clean tanker market in the short- to medium term.

Associate editorial director for Asia Freight, Pradeep Rajan, discusses about West African naphtha flow and its impact on the clean tanker market with Sameer Mohindru, senior editor, Asia clean tanker market, and associate editor Zoey Ng, who covers Asia naphtha market.

Economic power-house China has set out 10 targets for 2024, which is pro-growth for oil demand, keen on energy security, and prioritizing accelerated industry modernization and development of new productive forces.

In this episode of Platts Oil Markets podcast, Managing Editor for refined oil products, Wanda Wang has invited China experts Grace Lee, Asia analyst from the AltView team, Sijia Sun, Associate Director, China Oil Market, and Oceana Zhou, Oil Market Specialist, to discuss the oil-market related highlights following China's "Two Session" meetings -- the biggest annual political gathering in the country, which happened over March 4-11.

In October, the US agreed to ease sanctions on Venezuela in exchange for progress toward a fair election next year. But Venezuela has not fully held up its side of the US sanctions deal, and now it is threatening to annex the oil-rich Essequibo region of neighboring Guyana.

David Goldwyn, president of Goldwyn Global Strategies LLC, joins to podcast to discuss the status of US sanctions on Venezuela and what comes next.

Stick around after the interview for Starr Spencer with the Market Minute, a near-term look at oil market drivers.

Capitol Crude is taking a break for the holidays. We'll be back with new episodes in January.

A broad cross section of the energy industry has been in battle with the Federal Communications Commission over a band of airwaves, called spectrum, that tech and telecom companies gained the right to operate their mass-market wireless devices on last year. Because this spectrum is finite, it is allocated by the federal government, with the FCC managing commercial spectrum licenses.

But the energy sector has argued that the FCC doesn't consider criticality as it's doling out those airwaves. And this has created a situation in which power, oil and gas companies contend that the FCC has taken actions that could harm their ability to bolster grid and pipeline reliability.

Senior editor Jasmin Melvin spoke with American Public Power Association CEO Joy Ditto about the implications of an FCC order that was adopted last year despite vocal opposition from almost every major power and gas trade group and pushback from both the Department of Energy and Federal Energy Regulatory Commission.

Stick around after the interview for Starr Spencer with the Market Minute, a look at near-term oil market drivers.

The pandemic interrupted a steady surge in global air travel demand, when passenger numbers tripled in just over 20 years.

Jet fuel demand remains below pre-pandemic levels and is not expected to fully recover until late 2025 or 2026, according to S&P Global Platts Analytics. Yet the race is still on to limit aviation emissions growth because there are no quick fixes for decarbonizing this sector.

The International Energy Agency expects aviation emissions to be 12% above pre-pandemic levels in 2030, even if airlines and governments meet their announced sustainability goals.

Rep. Sean Casten, Democrat-Illinois, spoke with Platts senior editor Meghan Gordon about the policy outlook for sustainable aviation fuel, whether the US can meet the Biden administration's supply and emission targets, and some of the challenges could stand in the way.

They spoke a day after Casten joined the CEOs of United Airlines and Marathon Oil, along with other officials, on the first passenger flight fueled by 100% SAF.

Stick around after the interview for Chris van Moessner with the Market Minute, a look at near-term oil market drivers.

Reducing carbon emissions has been a central tenet of the Biden administration's climate agenda. But methane is over 80 times more potent than carbon dioxide emissions in terms of global warming potential. Roughly a quarter of the warming occurring now is driven by methane, and the oil and gas sector is the single largest source of those emissions in the US.

With that in mind, it's no surprise that methane garnered a lot of attention at the global climate talks in Glasgow, Scotland last month. And domestically, the Environmental Protection Agency has proposed tougher methane regulations while Congress is weighing the imposition of a fee on methane emissions above certain emissions intensity targets.

Senior editor Jasmin Melvin spoke with Kyle Danish, a climate lawyer and Clean Air Act expert, about the proposed methane regulations and a pending Supreme Court case that could send shockwaves through US climate policy.

Stick around after the interview for Jordan Blum with the Market Minute, a look at near-term oil market drivers.

The year is nearly over and the US Environmental Protection Agency has yet to formally propose biofuel blending requirements for 2021, and will miss the Nov. 30 deadline to finalize Renewable Fuel Standard volume requirements for 2022 as well. The Biden administration has also already missed a Nov. 1 deadline to issue a multi-year rule setting renewable fuel volumes for 2023 and beyond.

The country's leading association of biofuel producers has put the EPA on notice that this is unacceptable. Growth Energy gave the EPA 60 days to meet its statutory obligations, after which it plans to sue the agency. That clock started running Nov. 2.

Senior editor Jasmin Melvin spoke with Growth Energy CEO Emily Skor about the group's notice of intent to sue and the impacts of this delayed action on ethanol producers and consumers.

Stick around after the interview for Chris van Moessner with the Market Minute, a look at near-term oil market drivers.

The latest US inflation data showed energy costs jumping 30% in the 12 months through October. The trend is expected to continue through the winter, as home-heating costs rise across the board.

The US Energy Information Administration predicts propane will see the biggest price spike in percentage terms, with heating costs surging 46%, compared with 39% for heating oil, 29% for natural gas and 6% for electricity.

Senior editor Meghan Gordon spoke with Andrew Neal, manager of global NGLs for S&P Global Platts Analytics, about some of the dynamics behind the higher prices.

They talked about strong global demand for US propane exports, the Enbridge Line 5 pipeline controversy in Michigan, and calls by some in Washington to limit US energy exports in the face of high domestic prices.

Stick around after the interview for Jeff Mower with the Market Minute, a look at near-term oil market drivers.

US gasoline prices remain high well after the summer driving season. Domestic oil production isn't coming back fast as investors remain wary. And now President Joe Biden has struck out asking OPEC to put more oil supply on the market to help ease prices.

OPEC+ decided Nov. 4 to stick to its original plan of increasing its production quotas by 400,000 b/d in December.

Senior editor Meghan Gordon spoke with Herman Wang, managing editor for OPEC and Middle East news, about the meeting's outcome and its implications for global oil supply and demand heading into next year. They spoke about US oil diplomacy, the possibility of a Strategic Petroleum Reserve release and the outlook for OPEC+ spare capacity.

Stick around after the interview for Starr Spencer with the Market Minute, a look at near-term oil market drivers.

The UN Climate Change Conference taking place in Glasgow, Scotland, has been hailed as the world's best last chance to get a handle on the climate crisis. In the US, groups like the Electric Power Research Institute are working on climate solutions and advancing energy technologies to meet increasingly ambitious decarbonization goals set by companies and governments. As part of that effort, EPRI, along with its natural gas counterpart, launched the Low-Carbon Resources Initiative, an international R&D collaborative aimed at finding an energy carrier suitable for a decarbonized, sustainable future.

 Senior editor Jasmin Melvin spoke with Neva Espinoza, EPRI's vice president of energy supply and low-carbon resources, about the organization's work on deep decarbonization and progress towards deployment of low-carbon fuels of the future.

 Stick around after the interview for Chris van Moessner with the Market Minute, a look at near-term oil market drivers.

With tight supplies and strong demand helping create large swings in global gas prices, Japanese utility JERA is staying the course.

The world's largest LNG buyer is focused on its supply procurement and trading strategy.

Sunao Nakamura, a senior managing executive officer at JERA and chief of the Japanese company's optimization department, spoke with Platts Senior Editor Harry Weber about the gas-pricing environment, where the market could be headed and how JERA is responding. He also addressed how the energy transition affects the decision-making process.

Stick around after the interview for Jeff Mower with the Market Minute, a look at near-term oil market drivers.

Asphalt, the heaviest part of crude used in road and home construction, could see a surge in demand as the $1 trillion infrastructure bill would provide record amounts of funding for highway improvements. But all that depends on the bill making it to the president's desk to be signed into law.

That legislation also includes critical language that would provide five years of funding stability for the federal-aid highway program and other surface-transportation programs that are soon set to expire. Reauthorizing surface transportation programs was not easy, even before things got so polarized on the Hill. And in this go-around, the stakes are even higher as the Highway Trust Fund used to reimburse states for road projects is running out of money, so simply kicking the can down the road is not as viable an option.

Jasmin Melvin spoke with Jay Hansen, executive vice president for advocacy at the National Asphalt Pavement Association, about the potential influx in federal dollars for highway projects and the impact of political infighting on the asphalt industry.

Stick around after the interview for Jeff Mower with the Market Minute, a look at near-term oil market drivers.

Amid a crowded field of US liquefaction projects, Commonwealth LNG is looking to build momentum for its proposed 8.4 million mt/year facility in Louisiana as it targets a final investment decision in late 2022 and shipping its first LNG in 2025.

Senior editor Harry Weber spoke with Commonwealth LNG CEO Paul Varello about the state of the global market, the status of commercial efforts to support his project, and the impact that the run-up in spot prices in Asia and Europe is having on US aspirations to one day become the world's biggest exporter of the super-chilled power plant fuel.

Stick around after the interview for Chris van Moessner with the Market Minute, a look at near-term oil market drivers.

There are more than two dozen cases filed by US cities and states pending, with allegations that Big Oil knew about the dangers of burning fossil fuels and actively hid that information from consumers and investors.

Lauren Varnado, an oil and gas trial lawyer and Houston office managing partner at the law firm of Michelman & Robinson, joined the podcast to talk about this new form of climate litigation and its impacts on the oil industry.

Stick around for Starr Spencer with the Market Minute, a look at near-term oil market drivers.

Last week brought another major development in the outlook for the US adoption of electric vehicles, with Ford Motor Co. and South Korea's SK Innovations announcing an $11 billion project to manufacture EVs and lithium-ion batteries in Kentucky and Tennessee starting in 2025.

A lot of uncertainties still surround the outlook for EV adoption in the US, including government incentives like those in President Biden's Build Back Better proposal, the cost comparison with gas-powered cars, and scale-up of charging infrastructure.

Senior editor Meghan Gordon spoke with Karen Felton, EY's head of Americas power and utilities, about what she sees for the electrification of US transportation.

Stick around after the interview for Senior editor Jordan Blum with the Market Minute, a look at near-term oil market drivers.

Global oil demand will still be significant for years, even under the most ambitious energy transition. So which basins will continue to produce, and which others will be abandoned?

Offshore E&P company Kosmos Energy has answered those questions by halting its frontier exploration and selling those assets in the past two years. Its oil portfolio is now focused on two areas: West Africa and the Gulf of Mexico, and it aims to increasingly shift to natural gas.

Senior editor Meghan Gordon spoke with Mike Anderson, senior vice president for external affairs and sustainability at Kosmos Energy.

They talked about how offshore drillers are confronting the energy transition, the carbon intensity of different crude streams and the implications for the lack of investment happening right in the Gulf of Mexico.

They also looked at the energy disparity between developed and developing countries, and how world leaders might approach those tensions at COP26 in November.

Stick around for Starr Spencer with the Market Minute, a look at near-term oil market drivers.

The American Gas Association has committed to reducing greenhouse gas emissions and believes that natural gas utilities are well-positioned to help the Biden administration achieve the ambitious climate goals laid out by the president, though they're not on board with some proposals floated on Capitol Hill, including the methane fee. Jasmin Melvin spoke with Richard Meyer, AGA's vice president of energy markets, analysis and standards, about the administration's climate agenda and what natural gas utilities are doing about their carbon and methane footprints. Stick around after the interview for Chris Van Moessner with the Market Minute, a look at near-term oil market drivers.

Chris Midgley, global director of analytics at S&P Global Platts, shares his latest outlook for global oil demand heading into the third year of the pandemic and takes stock of the tension between climate ambitions and economic growth.

Midgley explains why US shale drillers continue to hold back despite relatively higher oil prices, whether the US and Iran will likely reach a nuclear deal to remove oil sanctions, and how US Gulf Coast producers and refiners are recovering after Hurricane Ida.

Stick around after the interview for Chris van Moessner with the Market Minute, a look at near-term oil market drivers.

As August comes to a close, Washington, DC, is ramping up again with energy issues before the Federal Energy Regulatory Commission.

On the natural gas side, the commission could start answering longstanding questions about how it will evaluate pipelines and LNG facilities in the face of opposition and pressure to weigh climate change impacts.

In terms of electric markets, FERC recently kicked off a new proceeding that could revamp its transmission policies to help connect more renewable energy sources to the grid. The commission will also examine PJM's proposed "focused" minimum offer price rule, a contentious proceeding aimed at limiting the exercise of buyer-side market power.

Additionally, there have been several recent noteworthy actions pertaining to the US Department of the Interior's pause on new federal oil and gas leasing.

Platts senior editor Maya Weber and editor Ellie Potter join DC bureau chief Chris Newkumet to discuss some of the major debates before FERC and the potential implications of an evenly split commission.

Stick around after the interview for the Market Minute with Chris van Moessner for a look at near-term oil market drivers.

President Joe Biden took a strong stance against fossil fuels right away, essentially canceling the long-simmering Keystone XK Pipeline and implementing a moratorium on all new oil and gas lease sales on federal lands and waters.

Since then though, his administration has refused to oppose other key crude oil pipeline projects, such as the expansion of the Dakota Access Pipeline and the nearly completed Line 3 replacement pipeline from Canada.

Also, while his campaign promised to cancel new oil and gas permits on federal lands, those permits have kept flowing during the ongoing leasing moratorium that's currently being fought in courts.

Supporters say he's taking a balanced approach for a country that still needs oil and gas as it transitions toward more renewables, while critics have called his administration hypocritical or, at best, intentionally inconsistent.

Energy law professor James Coleman joins S&P Global Platts senior editor Jordan Blum to discuss the many legal and policy issues at play under the new administration.

Stick around after the interview for the Market Minute with senior editor Starr Spencer, a look at near-term oil market drivers.

Representative Sean Casten, Democrat-Illinois, has not been shy in sharing his belief that the Federal Energy Regulatory Commission will be essential in combatting climate change and pivotal to achieving the US' ambitious clean energy and decarbonization goals.

To get the message across and garner support for legislation aimed at granting FERC greater authority to facilitate the shift to a clean energy economy, the congressman has put his spin on Megan Thee Stallion and Fergie hits while delivering remarks on the House floor.

Jasmin Melvin spoke with Casten, a member of the House Select Committee on the Climate Crisis and a former energy industry executive, about his tactics, FERC and climate policy.
They talk about the need for power market design reforms, biofuels' role in reducing carbon emissions, and concerns that Congress is not acting with the urgency the climate crisis demands.

Stick around after the interview for Jordan Blum with the Market Minute, a look at near-term oil market drivers.

The Biden administration is racing to adopt its energy and climate policy priorities before the pressures of the 2022 midterm elections limit what the White House can do.

Meghan Gordon spoke with Kevin Book, managing director of ClearView Energy Partners, about a few of the policies set to make a big impact on the US economy, energy producers and market dynamics.

They talk about the $1 trillion bipartisan infrastructure package, Treasury Secretary Janet Yellen's effort to assess climate risks to the financial system, and the threat high pump prices have on President Joe Biden's green agenda.

Stick around after the interview for Chris van Moessner with the Market Minute, a look at near-term oil market drivers.

Many of the key moments in the oil markets still echo today and are useful in looking at the challenges ahead for producers, consumers and markets during the energy transition away from fossil fuels.

We spoke with Adi Imsirovic, a senior research fellow at the Oxford Institute for Energy Studies and former global head of oil at Gazprom Marketing & Trading, about his new book, "Trading and Price Discovery for Crude Oils."

We talk about the role of governments and regulators in markets, what the pandemic tells us about the energy transition, the future of the OPEC+ alliance, and which producers will left standing.

Stick around after the interview for the Market Minute, a look at near-term oil market drivers.

The US Department of Energy's newly rebranded Office of Fossil Energy and Carbon Management aims to fund the research and technology deployment that will help the US reach net-zero carbon emissions by 2050.

We spoke with Acting Assistant Secretary Jennifer Wilcox, head of the office and a carbon capture expert, about some of the promising technologies to curb US dependence on fossil fuels and cut emissions. We talked about harder-to-decarbonize sectors like aviation, shipping and long-haul trucking, as well as a proposal to expand the 45Q tax credit for carbon capture.

Stick around after the interview for the Market Minute, a look at near-term oil market drivers.

Heading into this winter, relatively mild weather is forecast, but utility regulators have warned that an extended bout of extreme winter weather could stress infrastructure and present problems once again. Though progress has been made enhance winter preparedness, the interconnected nature of the gas and power industries remains a key concern.

Jose Costa, president and CEO of the Northeast Gas Association, joined the podcast to discuss the gas and power interplay. He spoke with S&P Global Commodity Insights reporter for The Energy Daily Tom Tiernan about infrastructure and pipeline capacity issues compounding the challenge of gas and power interdependence, NGA's role in helping to aid gas and power sector coordination, and efforts underway to both reliably and affordably meet energy needs beyond just electrification, including gas transportation alternatives, geothermal pilot projects and other solutions that will require natural gas to remain a part of the fuel mix into the future.

Stick around for Chris van Moessner with the Market Minute, a look at near-term oil market drivers.

Silos within the energy industry are coming down as companies confront the need to dramatically cut carbon emissions.

The so-called energy convergence is the idea that companies, policy makers and regulators need to be more collaborative across the energy spectrum.

Joe Brettell is a partner for strategic engagement at Prosody Group, which consults on energy, agriculture and financial services. We asked him about the rising importance of US regulators, climate-related investor pressures, and the changing focus of the US energy capital Houston as it adapts to the energy transition.

Stick around after the interview for the Market Minute, a look at near-term oil-market drivers.

The UAE and Saudi Arabia are locked in a dispute over how to ease oil-production limits as global demand recovers from the pandemic.

Nareeka Ahir, a geopolitical analyst at S&P Global Platts Analytics, tells us about the oil market risks that could emerge from the fight.

She also shares the latest geopolitical risks from the Iran nuclear talks, Iraq's widespread power outages, Nigeria's oil facility attacks and Libya's volatile oil output.

Freeport LNG CEO Michael Smith joined us to talk about the state of the market, his company's expansion plans, climate concerns and the start of the Atlantic hurricane season.

Activity has started picking up for US developers of new liquefaction terminals after a two-year lull in firm commercial deals that predated the coronavirus pandemic.

For existing exporters, global gas and LNG forward prices are trending strong and relatively stable, pointing to a long runway for exporters to enjoy healthy netbacks on deliveries to Europe and Asia, buffeted by cheap feedgas costs due to low US Henry Hub prices.

Feedgas deliveries to US LNG export terminals have recently been averaging over 11 Bcf/d, implying utilization of over 90%. Later this year, a seventh major US LNG export terminal could start up and a sixth train at Cheniere Energy's Sabine Pass could begin production.

As extreme weather events continue across the US, they're disrupting energy supplies and demanding more planning for the future.

Texas and California have both in recent weeks asked residents to conserve electricity to avoid power grid failures, only a few months after crippling power outages during Texas' deep freeze. And the Gulf Coast just started what looks to be an active hurricane season.

Today's guest believes the conversation about the energy transition away from fossil fuels has not focused enough on energy resilience.

Economist and energy expert Paul Sullivan says our society and energy systems are a lot more brittle and vulnerable than most people think. Sullivan is the lead of the Energy Industry Study at the National Defense University and a lecturer at Johns Hopkins University, where he teaches a class on energy and environmental security.

Stick around after the interview for the Market Minute, a look at near-term oil market drivers.

It's no secret that the power sector is undergoing dramatic changes.

Market dynamics and ambitious decarbonization goals set by the Biden administration are driving a transition away from fossil fuels and toward more renewable energy and electric vehicles.

Consumers and investors are also expressing new expectations for sustainability and a cleaner energy economy.

Utility executives have acknowledged a need for new digital technologies and a digitally savvy workforce, but a new survey by Ernst & Young found that the utility sector is falling behind in this digital transformation.

Nearly 90% of utility executives say they do not have enough workers with the right skills to take advantage of digital technologies, and many lack a plan to proceed.

We spoke with Ryan Levine of Ernst & Young about the report and what it means for the power sector going forward.

Venezuelan sanctions and the Maduro regime have been a backburner issue so far for US President Joe Biden. When he was elected, many energy analysts predicted he would grant some sanctions relief on humanitarian grounds.

Fernando Ferreira, director of Rapidan Energy Group's Geopolitical Risk Service, predicts we'll start to see the White House's direction on Venezuela later this year. We asked him about the ban on diesel-for-crude swaps, Chevron's waiver extension, the status of opposition leader Juan Guaido and the future of Venezuela's oil production.

Stick around after the interview for the Market Minute, a look at near-term oil market drivers.

The US and Iran are entering a sixth round of indirect talks in Vienna aimed at restarting the 2015 nuclear deal.

S&P Global Platts Analytics still expects the sides to reach a deal in the coming months, with the Biden administration removing sanctions on Iran's oil, petrochemical, shipping and other sectors by September. This sanctions relief would allow Iran to boost crude and condensate exports to 1.5 million b/d by December, from 600,000 b/d in May.

We spoke with Henry Rome, senior analyst at the Eurasia Group, about the main sticking points to reaching a deal. He also walks through some of the domestic political dynamics in Tehran and Washington and gives his prediction for when higher Iranian oil exports will start to flow.

Stick around after the interview for the Market Minute, a look at near-term oil market drivers.

Related stories:

US State Department sees longer road ahead for Iran talks, lifting sanctions

Infographic: Iran's oil industry eyes end to sanctions

Investors are proving they have climate change and the energy transition on the their minds.

Last week, activist investors got at least two seats on the ExxonMobil board of directors, and Chevron's shareholders approved Scope 3 emission targets, both which could lead to lower oil and gas production ahead.

The popularity of ESG (environmental, social and governance) investments is soaring. But what does it even mean for a company to adopt that label, and how do we weigh one ESG pledge against another?

Jonathan Chanis, managing member of New Tide Asset Management, believes ESG priorities are here to stay. He thinks regulators have a role to play to make sure these ESG labels mean something but he sees potential risks from regulators getting these reforms wrong.

The Biden administration surprised many last week in granting a sanctions waiver to the company building the Nord Stream 2 gas pipeline from Russia to Germany.

The move allows work to continue on the almost-finished project, despite long-standing US opposition on the grounds that it will increase Germany's dependence on Russian gas supplies.

We spoke with US Senator Kevin Cramer, Republican-North Dakota, who introduced a bill to reinstate the Nord Stream 2 sanctions.

The pipeline is expected to be completed this summer, possibly before the next State Department report is due to Congress in mid-August.

Cramer also gives his outlook for North Dakota oil production, the Dakota Access Pipeline and the Interior Department's leasing ban.

The White House and Democrats in Congress are looking at a number of ways to increase taxes and federal revenues from the oil and gas industry as part of their climate and clean energy agenda.

They're looking at higher royalty rates on federal lands and eliminating deductions like intangible drilling costs and percentage depletion.

We spoke with Dan Naatz, executive vice president for the Independent Petroleum Association of America, about how his group is engaging on this issue. We also talked about where he sees the Interior Department's leasing ban headed and the impact of Congress restoring Obama-era methane emissions.

S&P Global Platts Analytics predicts the leasing moratorium eventually could lower US onshore production by more than 1 million b/d in the next five years, while risks to offshore production will not show up for at least 10 years. Total US oil production is projected to grow by at least 200,000 b/d in 2021 and by 1 million b/d in 2022, but it won't reach its pre-pandemic peak of nearly 13 million b/d until at least 2023.

The climate impact of fossil fuels is in the spotlight as world leaders prepare to head to the COP28 climate negotiations in the United Arab Emirates. Environmental impacts arise from many steps in the oil and gas production process, including the underground mapping that must be done before companies can drill wells. The seismic survey process requires tree cutting that can fragment forests, as well as equipment that emits greenhouse gases.

OptiSeis Solutions is a company in Canada that is developing a new technology that reduces the environmental impact of the seismic survey process. Andrea Crook, the CEO of OptiSeis, joins the podcast to tell us about the technology, which can be used not only for oil and gas development, but also for geothermal and carbon capture and storage.

Stick around after the interview for Jeff Mower with the Market Minute, a near-term look at oil market drivers.

We're sizing up some of the top geopolitical factors influencing oil markets with Paul Sheldon, chief geopolitical adviser for S&P Global Platts Analytics.

The US and Iran entered a fourth round of indirect talks in Vienna this month. Sheldon explains why he still sees good odds of a framework deal emerging within weeks and what that would mean for the US easing sanctions on Iran's oil, petrochemical, shipping and other sectors.

Sheldon also previews OPEC's June 1 meeting, looks further out at the durability of the OPEC+ alliance, and gives his outlook for any easing of Venezuela sanctions.

Will the cyberattack that forced the largest US oil pipeline to shut down for days be a wake-up call for the industry to rapidly shore up its cyber defenses?

On this special episode, we have two interviews from cybersecurity experts. Both say they were not entirely surprised by the attack on the Colonial Pipeline, as they have witnessed the oil and gas sector be slower to adopt cyber security programs than counterparts in the utility sector.

Leo Simonovich, global head of industrial cyber at Siemens Energy, returns to Capitol Crude after joining us last year, when he made the case that the industry's digital transformation was being accelerated by the pandemic and that it was compounding cyber risks.

John Cusimano, vice president of industrial cybersecurity at aeSolutions, explains the challenges that pipeline networks face in guarding against attacks.

Just how realistic are the ESG goals being set each quarter by US energy producers in the face of rising pressure from investors, banks and the government to become more environmentally sustainable?

The Biden administration has ushered in new climate priorities across the government, including the Environmental Protection Agency reviewing methane limits, the Federal Reserve weighing climate risks to the economy, and the Securities and Exchange Commission examining climate disclosures in public markets.

We spoke with Andrew Logan, director the oil and gas program at Ceres, an investor network focused on making financial markets and companies more environmentally sustainable.

He sized up President Biden's climate policy progress so far, how oil and gas producers are responding to these pressures, whether carbon capture solutions are being oversold, and what rapid decarbonization could mean for the energy sector.

The US Interior Department has approved more than 500 drilling permits on federal lands and waters since January, despite the Biden administration's halt to new lease sales. The agency has not said when it might resume leasing, other than canceling any sales through June.

Producer-state senators contend that this pause will turn into a permanent ban. Senator John Hoeven, Republican-North Dakota, made that case on yesterday's Capitol Crude podcast. We took a look at how the leasing review is actually impacting US oil production.

Ash Singh, S&P Global Platts manager of supply and production analytics, shares the latest outlook and gives his prediction for how leasing might resume. He also gets into the current economic climate for US drillers and how capital discipline is playing out in the early stages of pandemic recovery.

The Dakota Access Pipeline returns to court today for a pivotal hearing. The Biden administration has been asked by the federal judge in the case to disclose whether it supports an immediate shutdown of the pipeline while the Army Corps of Engineers conducts a new environmental review.

We spoke with Senator John Hoeven, Republican-North Dakota, about the risks to the state if Dakota Access has to shut down.

We also asked him about the Interior Department's federal leasing ban, carbon capture tax incentives, Congress' competing infrastructure packages and US/OPEC relations.

North Dakota's oil production plummeted last year from a peak of 1.5 million b/d in November 2019 to a low point of 864,000 b/d in May 2020, losing its status as the second top oil-producing state to New Mexico for a few months. It pumped 1.1 million b/d in February, putting it back ahead of New Mexico by a thin margin.

Louisiana sits at the crossroads of US climate policy, from experiencing some of the earliest effects of rising sea levels and changing weather patterns to depending on fossil fuels for economic growth.

We spoke with US Senator Bill Cassidy, Republican-Louisiana, about how the Biden administration's climate policies are playing out in his state.

He contends the White House's climate ambitions ignore just how dependent the US is on fossil fuels given the pace of cleaner alternatives.

We also asked Cassidy about the Interior Department's leasing moratorium, how offshore drillers are shifting assets out of Louisiana, and what he expects on US-OPEC relations under the Biden White House.

Argentina's oil production has been on the rise this year, recovering from the demand and price impacts of the coronavirus pandemic.

Oil output climbed to 492,000 b/d in February, up from 446,000 b/d in May. While that was still down from 520,000 b/d in March 2020, market watchers appear confident that production will fully recover by the end of 2021.

Argentina's current administration has been keen on boosting production, primarily from the Vaca Muerta shale play, which is said to hold roughly 1 billion barrels of oil -- but unlocking those reserves will require changes to Argentina's regulatory and tax environment, and a shift to transparent oil prices.

We talked with Maria Garcia, S&P Global Platts senior editor for Latin American crude, and Charles Newberry, Platts' Argentina correspondent, about what's happening.

Opportunity zones are tax-advantaged investment vehicles that grew out of the Tax Cuts and Jobs Act of 2017 to bring economic redevelopment to impoverished areas.

For the oil and gas industry, opportunity zones can benefit producers and investors.

US Energy Development, a small upstream producer, recently added an opportunity zone to its portfolio in New Mexico called the Shetland project.

We talked with Matthew Iak, executive vice president at US Energy, about opportunity zones, the company's strategy and the Sheltland project.

The administration of President Andres Manuel Lopez Obrador in Mexico came to power with the promise to undo the energy reform of his predecessor, which opened the private sector to investment.

During the last 18 months, the government has issued agreements, decrees and regulations in its strategy to benefit the state utility.

We spoke to Victor Ureta of Acclaim Energy, a Mexico-based consultancy, about those legal moves, the impact on the industry, and what we can expect from those processes.

The dearth of newly sanctioned LNG export projects in 2020 and so far in 2021 — especially in North America, which has been responsible for the majority of new LNG supply globally over the last five years — is a worrisome sign for the market that could lead to more price volatility in the future.

In North America, there was only one new liquefaction project sanctioned last year — Sempra Energy's Energia Costa Azul project on Mexico's Pacific Coast. More than a dozen other developers in the US, Canada, and Mexico are actively pursuing projects of their own, although the field is dwindling amid ongoing contracting and financing challenges.

Exelon-backed Annova LNG recently canceled its LNG export project in Texas. Analysts expect more US greenfield projects to drop off the board.

We spoke with Tellurian CEO Octavio Simoes about the developer's continued efforts to secure commercial support for its proposed Driftwood LNG facility in Louisiana.

With this year's elections barely in the rear-view mirror, the 2024 US elections are just one year away. Already, there are questions about how energy policy, climate change and prices at the pump will play into this election cycle.

Capitol Crude spoke with a Democratic and a Republican strategist for their take on these issues. Last week, Antjuan Seawright weighed in with the Democratic perspective. And this week, you will hear from Tom Hassenboehler, who discussed the GOP's thinking.

Hassenboehler is a partner at CO2EFFICIENT, a Washington DC consultancy that specializes in energy and environmental policy. He joins the podcast to talk about the role that climate change and energy prices play in elections, and the chances that Republicans and Democrats can find common ground on energy issues.

Stick around after the interview for Starr Spencer with the Market Minute, a near-term look at oil market drivers.

Environmental, social and governance considerations have becoming pressing issues among refiners in today's net-zero carbon world.

While other refiners and oil companies are starting to embrace ESG, it has been a key part of Meridian Energy's strategy since 2013, when the company was formed.

We talked with Meridian CEO Bill Prentice about building an ESG refinery in North Dakota.

Mexican production of crude oil has declined continuously since reaching a peak in 2004. Since then, the government has tried to bring back production while keeping revenues steady.

President Andres Manuel Lopez Obrador has embarked on a new quest to rescue Pemex, whose waning revenues have been needed to help develop Mexico for the last seven decades.

We spoke with Marco Cota, a former Pemex executive and now
head of Talanza Energy, a Mexico City consultancy, about Pemex's
chances to become the engine for economic development that the government wants, as well as the impact on Mexico of the USMCA free trade agreement and a renewed US focus on clean energy.

Conversations at this year's CERAWeek by IHS Markit, held virtually this year after being canceled in 2020 due to the pandemic, were wide ranging, although energy transition was often the main topic.