Enbridge Inc. and Energy Transfer LP are gauging interest in increased pipeline capacity in Illinois to help rising Canadian oil sands production reach more markets in the Midwest and the US Gulf Coast. The Southern Illinois Connector project would transport up to 200,000 barrels of crude a day by reconfiguring and upgrading existing systems and … Read more
Canada and the United States have a chance to strike a new economic and defense relationship but nothing is assured, Canadian Prime Minister Mark Carney said on Monday. Last Monday, Carney said he had agreed with U.S. President Donald Trump that their two nations should try to wrap up talks on a new deal within … Read more
The war between Israel and Iran has raised concerns that Iran could retaliate by trying to close the Strait of Hormuz, the world’s most important oil chokepoint due to the large volumes of crude that pass through it every day. The U.S. military’s strike on three sites in Iran over the weekend has raised questions … Read more
The United States assesses that Iran could carry out retaliatory attacks targeting American forces in the Middle East soon, although the U.S. is still seeking a diplomatic resolution that would see Tehran forgo any attack, two U.S. officials said on Monday. One of the officials, who spoke to Reuters on condition of anonymity, said Iran’s … Read more
U.S. President Donald Trump expressed a desire on Monday to see oil prices kept down amid fears that the aftermath of the attacks on Iran’s nuclear facilities could cause them to spike. “Everyone, keep oil prices down, I’m watching! You’re playing into the hands of the enemy, don’t do it,” Trump wrote in all caps … Read more
Oil majors Eni, BP, and Total Energies operating in Iraqi oilfields have evacuated a number of their foreign personnel, Iraq’s state-run Basra Oil Company said in a statement on Monday.However, oil operations in Iraq’s southern oilfields have not been affected, with exports averaging 3.32 million barrels per day, two oil officials told Reuters. The measures … Read more
The amount of natural gas flowing to U.S. liquefied natural gas (LNG) company Cheniere Energy’s Sabine Pass export plant in Louisiana was on track to rise to a three-week high on Monday, according to data from financial firm LSEG. Energy traders said that expected increase in gas flows and a notice from Cheniere that the … Read more
Iran’s supreme leader sent his foreign minister to Moscow on Monday to ask President Vladimir Putin for more help from Russia after the biggest U.S. military action against the Islamic Republic since the 1979 revolution over the weekend. U.S. President Donald Trump and Israel have publicly speculated about killing Supreme Leader Ayatollah Ali Khamenei and … Read more
(Reuters) – Goldman Sachs flagged risks to global energy supply amid concerns over a potential disruption in the Strait of Hormuz that would lead to significant spikes in oil and natural gas prices, the bank said in a note dated Sunday. The bank estimated Brent crude could briefly peak at $110 per barrel if oil flows through the critical … Read more
By EXRobotics B.V. Adapted by Microwatt Controls Ltd. As global regulations tighten and satellite surveillance of methane intensifies, energy operators face growing pressure to reduce fugitive emissions or risk steep penalties and even operational shutdowns. ExRobotics’ robots are engineered to meet this challenge head-on. Purpose-built for methane leak detection and VOC monitoring in hazardous hydrocarbon … Read more
Oil prices climbed to their highest in five months on Monday as fears grew over what conflict in the Middle East could mean for supplies. Summary Brent, WTI up 1% in volatile session Prices touched five-month high before turning negative, then recovering No oil supply disruption yet from US attack on Iran Fears Iran could … Read more
In a bid to defuse the conflict over Iran’s nuclear program, foreign ministers from Europe’s top three powers hurried to meet their Iranian counterpart on Friday in Geneva. Those hopes collapsed on Saturday when U.S. President Donald Trump ordered airstrikes on Iran’s three main nuclear sites, in support of Israel’s military campaign.“It’s irrelevant to … Read more
(Reuters) – Oil prices jumped on Monday to their highest since January as Washington’s weekend move to join Israel in attacking Iran’s nuclear facilities stoked supply worries. Brent crude futures rose $1.88 or 2.44% at $78.89 a barrel as of 1122 GMT. U.S. West Texas Intermediate crude advanced $1.87 or 2.53% at $75.71. Both contracts … Read more
Iran’s top security body must make the final decision on whether to close the Strait of Hormuz, Iranian TV said on Sunday, after parliament reportedly backed the measure in response to U.S. strikes on several of Tehran’s nuclear sites.Iran has in the past threatened to close the strait but has never followed through on the … Read more
The Shell-led LNG Canada project has produced the first liquefied natural gas for export from its facility in Kitimat, British Columbia, two people familiar with the startup of the plant told Reuters on Sunday. “At 4 a.m. local time LNG Canada started producing its first LNG,” one of the sources told Reuters. The facility is … Read more
(The opinions expressed here are those of the author, a columnist for Reuters.)*US strikes on Iran spur fear of disruption to Middle East oil exports *Iran able to block the Strait of Hormuz, has tried in the past *Disruptions likely to be met by swift response from US Navy By Ron Bousso LONDON, June 22 … Read more
U.S. President Donald Trump said he had “obliterated” Iran’s main nuclear sites in strikes overnight, in a major new escalation of conflict in the Middle East as Tehran vowed to reserve all options to defend itself.In Israel, which triggered the crisis by attacking Iran’s nuclear and military sites on June 13, retaliatory Iranian missile fire … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for an eighth week in a row for the first time since September 2023, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future … Read more
HOUSTON, June 20 (Reuters) – Marathon Petroleum continued assessing damage on Friday to the shut residual hydrotreating unit (RHU) at its 631,000-barrel-per-day Galveston Bay Refinery in Texas City, Texas, from a June 14 fire, said people familiar with plant operations. The assessment began after the fire on the 64,000-bpd RHU was extinguished on the night … Read more
Summary Oil futures rise on the week US imposes new Iran-related sanctions amid diplomatic efforts US oil and natural gas rig count falls for eighth straight week, first time since September 2023 EU abandons proposal to lower Russian oil price cap (Reuters) – Oil prices settled down on Friday as the U.S. imposed new Iran-related … Read more
By Andrew Chung Biden’s EPA let California set tougher emissions standards Supreme Court limited EPA regulatory powers in prior cases Justice Kavanaugh writes Supreme Court’s 7-2 ruling WASHINGTON, June 20 (Reuters) – The U.S. Supreme Court sided on Friday with fuel producers that had opposed California’s standards for vehicle emissions and electric cars under a … Read more
By Georgina Mccartney Hedging activity spikes as producers lock in higher prices US crude futures jump after Israel strikes Iran Oil producers need $65 a barrel on average to profitably drill HOUSTON, June 20 (Reuters) – Israel’s surprise attack on Iran last week had oil prices spiking which sent U.S. producers scrambling to lock in … Read more
By Nate Raymond Court finds EPA’s climate analysis arbitrary, sends rule back for review Environmental groups argue EPA used outdated study on emissions Judge Katsas dissents, calls rule deeply flawed June 20 (Reuters) – A federal appeals court declined to throw out the U.S. Environmental Protection Agency’s renewable fuel standards for 2023 to 2025 on … Read more
U.S. refinery crude oil processing capacity grew by nearly 40,000 barrels per day in 2024 to 18.4 million bpd, the U.S. Energy Information Administration said on Friday. Motiva Enterprises’ Port Arthur, Texas, plant became the largest single refinery by capacity at 640,500 bpd, passing Marathon Petroleum’s Galveston Bay Refinery in Texas City, Texas, according to … Read more
June 20 (Reuters) – The U.S. Treasury Department on Friday extended a general license protecting Venezuela-owned refiner Citgo Petroleum from creditors through December 20, the department’s website showed, opens new tab. Washington has protected the Houston-based company from creditors in recent years even amid a court-organized auction of shares in its parent company, PDV Holding. … Read more
By Alisa Odenheimer, Eltaf Najafizada, Akayla Gardner, and Samy Adghirni Talks aimed at de-escalating the week-long war between Israel and Iran got under way in Geneva on Friday after US President Donald Trump signaled he would give diplomacy a chance before deciding whether to intervene militarily. Iranian Foreign Minister Abbas Araghchi is meeting counterparts from … Read more
By Michael Nienaber, Suzanne Lynch, and Kamil Kowalcze The European Union shelved a plan for a stricter price cap on Russian oil exports over concerns that the US won’t back tougher sanctions due to rising crude prices. The EU has proposed lowering the cap to $45 per barrel from the current $60, but oil’s surge … Read more
The reactor building at the Bushehr nuclear power plant in Bushehr, Iran, in a handout image supplied by the Iran International Photo Agency. Photographer: Iran International Photo Agency/Getty Images President Vladimir Putin said Russia sought and received assurances from Israel and the US that they’d ensure the safety of Russian staff working at Iran’s nuclear … Read more
By Andrew Mills and Marwa Rashad Qatar warns of risks to global gas supply A shutdown of Qatari production could cut 20% of global supply Asian LNG prices have risen by 11% on supply disruption concerns DOHA/LONDON, June 20 (Reuters) – Qatar held crisis talks this week with energy majors after Israeli strikes on Iran’s … Read more
By Parisa Hafezi, Crispian Balmer and Jana Choukeir Israel says it struck surface-to-air missile batteries in southwest Iran IAEA chief Grossi warns against attacks on nuclear facilities UN Secretary-General Guterres says conflict could ignite a fire nobody can control Russia and China call for an immediate de-escalation DUBAI/JERUSALEM, June 20 (Reuters) – Iran said on … Read more
By Georgina Mccartney HOUSTON, June 20 (Reuters) – Oil prices slipped on Friday as the U.S. imposed new Iran-related sanctions marking a diplomatic approach that fed hopes of a negotiated agreement, a day after President Donald Trump said he might take two weeks to decide U.S. involvement in the Israel-Iran conflict. Brent crude futures were … Read more
U.S. natural gas futures slipped on Friday but headed for its best week in more than a month, steered by forecasts for hotter weather that should boost the amount of gas power generators burn to keep air conditioners humming. Gas futures for July delivery on the New York Mercantile Exchange fell 2 cents, or 0.5%, … Read more
Canada’s Woodfibre liquefied natural gas project looks to be operational by 2028, Erin O’Brien, assistant deputy minister at Canada’s department of natural resources, said at an energy conference in Tokyo on Friday.O’Brien added that the project is poised to be the world’s first net-zero LNG facility. (Reporting by Yuka Obayashi in Tokyo and Emily Chow … Read more
Bloomberg Albert and Gordon Huddleston, part of the H.L. Hunt family, are in advanced talks to sell Aethon Energy Management’s assets to Mitsubishi Corp. for nearly $8 billion. The potential deal would mark a milestone for the father-son duo and their family’s legacy in the oil industry, which spans over a century and began with … Read more
U.S. and Chinese purchases for strategic oil reserves are expected to offset any potential global surplus, keeping oil prices in check, the head of the Russian oil producer Gazprom Neft said on Friday. The eight members of OPEC+, which groups OPEC and other producers led by Russia, are unwinding voluntary production cuts and have agreed … Read more
Brent crude oil is up around 20% so far in June, and set for its biggest monthly jump since 2020 as Israel/Iran tensions flare-up. Although relatively contained, the rise has not gone unnoticed just three years after Russia’s invasion of Ukraine triggered a surge in energy prices that ramped up global inflation and sparked aggressive … Read more
(Reuters) – Oil prices fell on Friday, but remained on course for a third consecutive weekly rise, after the White House delayed a decision on U.S. involvement in the Israel-Iran conflict. Brent crude futures fell $1.89, or 2.4%, to $76.96 a barrel by 1000 GMT. They were still set to gain nearly 4% on the … Read more
(Reuters) – U.S. crude oil stockpiles fell sharply last week, posting their largest decline in a year, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 11.5 million barrels to 420.9 million barrels in the week ending June 13, the EIA said, compared with analysts’ expectations in … Read more
June 19 (Reuters) – An escalation of the Iran-Israeli hostilities could keep Brent oil prices trading about 15% to 20% above pre-conflict levels if the war disrupts 1.1 million barrels per day (bpd) of Iranian oil exports, analysts at Citibank said on Thursday. “This implies Brent prices should be in the $75 to $78/bbl range,” … Read more
(Reuters) – JP Morgan believes that a Strait of Hormuz closure would likely trigger a sustained oil price shock that will reverberate through global macro developments, the bank said in a note. It said that in the most extreme case of a broader regional conflagration that includes the closure of Hormuz, it estimates oil prices … Read more
By Robert Harvey Iran’s crude exports averaging 2.2 million bpd this week, Kpler says Tankers are loading one-by-one at Kharg Island Floating storage is moving close to China to shield buyers from potential disruptions LONDON, June 19 (Reuters) – Iran is maintaining crude oil supply by loading tankers one at a time and moving floating … Read more
Russia, the United States and Saudi Arabia could act jointly to stabilise oil markets if needed, Russia’s investment envoy Kirill Dmitriev told Reuters. Oil prices surged on Thursday after Israel said it attacked Iranian nuclear sites in Natanz and Arak overnight and as investors grappled with fears of a broader conflict in the Middle East … Read more
Summary Chevron looking to sell refinery stake amid global restructuring Refinery partner PetroChina has first right of refusal on stake Chevron also gauging interest to sell other Asia assets Stake value estimated in $300 million to $500 million range SINGAPORE, (Reuters) – U.S. oil major Chevron has sought non-binding bids for the sale of its 50% … Read more
By Naureen S Malik and Mark Chediak Downed power lines following Hurricane Beryl in July 2024. Photographer: Mark Felix/Bloomberg Houston’s electric utility is confident significant grid investments will prevent a repeat of widespread blackouts that occurred last summer following Hurricane Beryl. CenterPoint Energy Inc. is integrating artificial intelligence to predict tree growth, using light detection … Read more
Saudi Energy Minister Prince Abdulaziz bin Salman, asked if the kingdom and Russia would step in to replace any potential loss of Iranian oil, said on Thursday that “we only react to realities”. The prince, speaking at an economic forum in St Petersburg, added that OPEC+ has been a reliable organisation.
Summary Brent and WTI benchmarks up more than $1 Trump unpredictability keeps investors on edge US crude stockpiles fall sharply (Reuters) – Oil prices rose on Thursday after Israel and Iran continued to exchange missile attacks overnight and U.S. President Donald Trump’s stance on the conflict kept investors on edge. Brent crude futures rose $1.06, … Read more
Shell Plc has contingency plans in case the conflict between Israel and Iran disrupts flows from the region, warning that a potential blockage of the Strait of Hormuz could deliver a substantial shock. About a quarter of the world’s oil trade passes through the Strait of Hormuz, which links the Persian Gulf to the Indian … Read more
Following the rise in Brent prices to $76-77 per barrel, Goldman Sachs estimates a geopolitical risk premium of around $10 per barrel, the bank said in a note on Wednesday. While its base case is that Brent declines to around $60/bbl in Q4 assuming no supply disruptions, Goldman said the $10/bbl premium appears justified in … Read more
Commonwealth LNG said on Wednesday it has received a final order from the Federal Energy Regulatory Commission authorizing its 9.5 million tonnes per annum liquefied natural gas export project on the Calcasieu Ship Channel in Louisiana. The FERC final order follows a conditional non-free trade agreement export authorization granted by the U.S. Department of Energy, … Read more
By Anna Shiryaevskaya and Verity Ratcliffe The Golden Pass LNG terminal under construction in Sabine Pass, Texas. Photographer: Callaghan O’Hare/Bloomberg A new breed of investors is expanding into liquefied natural gas, one of the world’s hottest commodities, offering billions of dollars for new projects and squeezing out established players. With financial firepower at their disposal … Read more
MILAN, June 18 (Reuters) – The CEO of Italian energy company Eni (ENI.MI) said on Wednesday oil markets are signalling that an escalation between Israel and Iran and the closure of the Strait of Hormuz is unlikely. About a fifth of the world’s total oil consumption passes through the Strait, which lies between Oman and … Read more
Canada could produce its first ever liquefied natural gas this weekend, from the LNG Canada export facility in Kitimat, British Columbia, two people familiar with the startup of the plant told Reuters on Wednesday. The facility, the first of a handful of Canadian LNG projects to begin production, will be the first LNG facility in … Read more
Developments in the Iran-Israel conflict in the next three to five days will be critical to global energy markets even though oil and gas supplies from the Gulf have not yet been disrupted, oil historian Daniel Yergin said on Wednesday. Iran and Israel launched new missile strikes at each other on Wednesday as the air … Read more
Energy majors are pouring money into gas exploration and production in Malaysia and Indonesia to meet rising power demand from growing populations and a proliferation of data centres in the region. The wave of investments come as European majors pivot back to more profitable conventional fuels as countries embark on different energy transition paths, while … Read more
By Kevin Crowley Chevron Corp. made its first foray into lithium with two acreage deals in northeast Texas and southwest Arkansas aimed at building a domestic “commercial scale” business. Chevron acquired 125,000 net acres from TerraVolta Resources LLC and East Texas Natural Resources LLC in the Smackover Formation, an underground rock formation that holds high … Read more
By Valerie Volcovici WASHINGTON, June 17 (Reuters) – A U.S. Senate panel proposed making the tax credit for capturing carbon emissions for recovering oil equal to the $85/metric ton tax credit for permanently burying those emissions underground, a boon for oil and gas producers. The finance committee proposed the change to the so-called 45Q tax … Read more
Nine in 10 current EV drivers indicated they would consider a similar purchase for their next vehicle Bloomberg News Electric cars are losing their appeal for new drivers in Western nations, even as existing owners report increasing satisfaction with their battery-powered vehicles, according to a survey conducted by Shell Plc. The findings show that high upfront cost … Read more
HOUSTON, (GLOBE NEWSWIRE) — Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) (collectively, “Plains”) announced today that it has executed definitive agreements with Keyera Corp. (TSX: KEY) (“Keyera”) pursuant to which Plains will sell substantially all of its NGL business to Keyera for a total cash consideration of approximately $5.15 Billion CAD ($3.75 … Read more
(Reuters) – ADNOC chief Sultan al-Jaber said on Tuesday the state oil company of the United Arab Emirates was looking to grow its U.S. energy investments six-fold to $440 billion in the next 10 years. “For us, the United States is not just a priority; it is an investment imperative,” Jaber told an audience at … Read more
Summary Trump’s bill proposes ending wind and solar incentives by 2028 Renewable projects like solar, wind, and batteries face shutdown risk Republican lawmakers from Utah, Alaska, N. Carolina, Kansas at odds over the rollbacks Red states capture 75% of IRA clean energy investments Utah clean energy investments total $3 bln, with $10 bln in announced … Read more
Summary Oil recovers early losses to extend previous session’s 4% gain Market fears potential Straight of Hormuz closure, analysts say Middle East conflict complicates Fed interest rate decision (Reuters) – Oil prices steadied on Wednesday, recovering early losses to register moderate gains after the previous session’s 4% advance as markets weighed up the chance of … Read more
By Allison Lampert and Oliver Griffin Global aviation sector strives for net zero emissions by 2050 Sustainable aviation fuel made from ethanol seen as one option Brazil ethanol producers fear US interference in UN’s SAF rules MONTREAL/SAO PAULO June 17 (Rtrs) – The U.S. is expected to object this month to a recommendation at the … Read more
By Mariana Durao and Gabriel Diniz Tavares Camila Borges, a representative for Exxon Mobil Corp., presents a bid during a public session of the Agencia Nacional do Petroleo (ANP) oil concession offer in Rio de Janeiro on June 17. Photographer: Dado Galdieri/Bloomberg Petrobras, Exxon Mobil Corp. and Chevron Corp. won exploration rights in Brazil’s Equatorial … Read more
The Senate’s tax bill would boost baseload electricity — including nuclear and geothermal power — while slashing incentives for intermittent sources. By Mark Chediak A cooling tower at a nuclear power plant in Middletown, Pennsylvania, in 2024. Photographer: Heather Khalifa/Bloomberg Senate Republicans would use their version of Donald Trump’s massive tax and spending bill to … Read more
(Reuters) – Military strikes between Iran and Israel have prompted concern about potential damage and disruption to the region’s important oil and gas fields and infrastructure. Below are details about these sites and about how they have been affected so far: SOUTH PARS GAS FIELD Israel struck an installation at the South Pars offshore gas … Read more
(Reuters) – 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. In a letter sent to President Claudia Sheinbaum and released on Monday afternoon, the association warned … Read more
(Reuters) – Critical energy infrastructure in Israel and Iran has not escaped unscathed from the first few days of the countries’ escalated conflict. Worst-case scenarios have yet to be realized, but the war is already having a notable impact on energy production and exports in both countries. Benchmark Brent crude oil prices jumped 7% to … Read more
By Ka Sing Chan HONG KONG, June 17 (Reuters) – Beijing has far more at stake in Iran besides just oil. China has not only benefited from importing heavily discounted Iranian crude, it has inched up its strategic infrastructure investments into the country since the duo signed a $400 billion pact in 2021. If the … Read more
PetroChina International, the trading arm of the Chinese oil major, says it is interested in North American liquefied natural gas supplies as it seeks to reduce trading risk by seeking flexibility in supply deals, said a company executive on Tuesday. “If I look at our portfolio today, I think we’re slightly overweight on duration. I … Read more
Two oil tankers collided and caught fire on Tuesday near the Strait of Hormuz, where electronic interference has surged during conflict between Iran and Israel, but there were no injuries to crew or spillage reported.With Iran and Israel firing missiles at each other since Friday, interference has disrupted navigation systems near the vital sea route … Read more
(Reuters) – U.S. solar stocks dropped in premarket trading on Tuesday after a Senate panel proposed a full phase-out of solar and wind energy tax credits by 2028, as part of changes suggested to President Donald Trump’s sweeping tax-cut and spending bill. Solar inverter maker Enphase Energy was among the biggest decliners on the S&P … Read more
Summary IEA forecasts oil demand peak at 105.6 million bpd by 2029 China’s oil demand to peak in 2027 due to EV growth US demand boosted by lower gasoline prices, slower EV adoption IEA sharply cuts prediction for US EV adoption in 2030 LONDON, June 17 (Reuters) – Global oil demand will keep growing until … Read more
Adnoc’s bid for Santos shows oil producers are going after LNG to counter declining demand and war. By David Fickling What’s an oil producer to do when it sees its core product under threat from declining demand and a war-torn neighborhood? Just ask Abu Dhabi National Oil Co. The $19 billion all-cash bid for Australian gas … Read more
By Julian Lee The proximity to land leaves vessels open to attack from shore-based missiles or interception by patrol boats and helicopters.Photographer: Karim Sahib/AFP/Getty Images The Strait of Hormuz, a narrow waterway at the mouth of the Persian Gulf, is rarely far from the center of global tensions. A major shipping route that handles around … Read more
By Lucia Kassai and David Marino The surge in oil futures spurred by the initial missile attacks in the Middle East last week triggered a wave of hedging by producers seeking to lock in the higher prices, keeping some traders up late into the night. AEGIS Hedging Solutions LLC, a Woodlands, Texas-based firm that helps … Read more
HOUSTON, June 17, 2025 /PRNewswire/ — Commonwealth LNG (“Commonwealth”) today identified PETRONAS LNG Ltd. (“PETRONAS”), a subsidiary of Malaysia’s national oil and gas company, as the major Asian energy company referenced in the company’s May 5 announcement of a buyer to purchase 1 million tonnes per annum (MTPA) of LNG for 20 years from Commonwealth’s 9.5 MTPA facility … Read more
Summary Brent and WTI benchmarks up more than 2% War risk continues to underpin market IEA global oil supply forecast revised upwards (Reuters) – Oil prices were driven higher on Tuesday by the Iran-Israel conflict, though major oil and gas infrastructure and flows have so far been spared from substantial impact. Brent crude futures gained … Read more
(Reuters) – In a surprise move, Canadian Prime Minister Mark Carney said on Monday he had agreed with U.S. President Donald Trump that their two nations should try to wrap up a new economic and security deal within 30 days. The announcement came only a few hours after Canadian officials said the two sides still … Read more
WASHINGTON, June 16 (Reuters) – The U.S. Senate tax committee proposed a full phase-out of solar and wind energy tax credits by 2028, but extended the incentive to 2036 for hydropower, nuclear and geothermal energy, which are favored by President Donald Trump’s administration, according to a draft bill circulated on Monday. The draft released by … Read more
June 16 (Reuters) – The Republican governor of South Carolina appealed to the Trump administration on Monday to leave his state out of an impending plan to increase offshore oil and gas production. The letter comes as the administration wraps up a 45-day request for public input into a federal offshore oil and gas leasing … Read more
By Lucia Kassai Shell Plc’s former head of oil trading in the US was stiffed on his 2020 bonus by more than $29 million, he claims in a lawsuit that shines a light on compensation inside the oil major’s lucrative trading unit. John Dimech alleges that even though his unit’s profits doubled in 2020, his … Read more
By Clyde Russell LAUNCESTON, Australia, June 16 (Reuters) – When tensions rise in the Middle East, it can be helpful to look at what is not happening as much as what is. In the crude oil market, this means focusing on the fact that so far not a single barrel of crude oil supply has … Read more
June 16 (Reuters) – Mitsubishi Corp (8058.T) is in talks to acquire the U.S. shale production and pipeline assets of Aethon Energy Management for roughly $8 billion, a person familiar with the matter said on Monday. The deal, should it be struck, would give the Japanese conglomerate a substantial natural gas operation adjacent to the … Read more
By Kate Abnett LUXEMBOURG, June 16 (Reuters) – Hungary and Slovakia on Monday opposed a planned European Union ban on Russian gas imports, though Brussels is expected to propose the law on Tuesday, which could pass without their approval. The European Commission aims to ban EU Russian gas and liquefied natural gas (LNG) imports by … Read more
By Nate Raymond Federal court friendlier venue for companies in such cases Appeal involved suits by Plaquemines and Cameron parishes June 16 (Reuters) – The U.S. Supreme Court agreed on Monday to hear a bid by Chevron (CVX.N), Exxon Mobil (XOM.N) and other oil and gas companies to have lawsuits brought by two Louisiana localities … Read more
More pressure must be exerted on Russia to secure a ceasefire in Ukraine urging the G7 nations to ramp up sanctions to achieve that goal, European Commission President Ursula von der Leyen said on Sunday.Leaders of the world’s largest industrial nations are meeting in Canada’s Rockies with European countries seeking to keep the war in … Read more
The importance of oil and gas can’t be underestimated at times when conflicts occur, something that was currently being seen, the head of Saudi oil giant Aramco told an energy conference on Monday. Aramco CEO Amin Nasser delivered his speech to the Energy Asia Conference in Kuala Lumpur by a video link. Oil prices jumped … Read more
U.S. Energy Secretary Chris Wright said on Friday he and his team are working with the White House’s National Security Council to monitor the situation in Middle East and any potential impacts to global energy supply. Wright said on X, after Israel’s strikes on Iran’s nuclear sites and Iran’s response, that President Donald Trump’s policy … Read more
The 51st G7 summit, the 57th annual meeting of the organization G7, is being held from 16 to 17 June 2025 in Kananaskis, Alberta, Canada. This is the 2nd G7 summit to be held in Kananaskis since the 28th G8 summit in 2002. Leaders at the summit Mark Carney will chair the 51st G7 summit. The 2025 summit will be the first summit … Read more
Bloomberg NRG Energy Inc. is working on deals to power US data centers “all over the country” and will reveal details with second-quarter results, according to the top executive of the independent generator. These are huge, complicated deals and it’s sensitive to figure out when to announce them, Chief Executive Officer Larry Coben said on Bloomberg TV. Data … Read more
Digitize legal land descriptions into precise, mappable boundaries for title validation and acquisition. Are you mapping land rights in ArcGIS Pro and often juggling vague legal descriptions, tight tolerance requirements, and the pressure for precision? If you are a GIS specialist, land surveyor, real estate developer, or land management professional, here’s a new way to … Read more
Australian oil and gas producer Santos said on Monday it intended to support an $18.7 billion takeover bid from an international consortium led by Abu Dhabi’s National Oil Company (ADNOC). ADNOC, through its investment arm XRG, with Abu Dhabi Development Holding Company (ADQ) and private equity firm Carlyle has offered $5.76 (A$8.89) per Santos share, … Read more
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a seventh week in a row to the lowest since November 2021, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by … Read more
Oil prices gain as traders fear Iran could try to disrupt supplies Summary Brent, WTI surged more than $4 at open before trimming gains Iranian missiles strike Israel’s Tel Aviv and Haifa on Monday Trump says he hopes Israel and Iran can reach a ceasefire LONDON, June 16 (Reuters) – Oil prices edged down on … Read more
(Reuters) – OPEC said on Monday it expected the global economy to remain resilient in the second half of this year despite concerns about trade conflicts and trimmed its forecast for growth in oil supply from producers outside the wider OPEC+ group in 2026. In a monthly report, the Organization of the Petroleum Exporting Countries … Read more
Summary Saudi Arabia, UAE the only OPEC+ members that can raise output Global spare capacity may be as low as 3 million bpd Global supply cushion roughly equals Iranian output Iran pledges to retaliate for Israeli strikes (Reuters) – Oil market participants have switched to dreading a shortage in fuel from focusing on impending oversupply … Read more
Traders on Friday exchanged the most $80 West Texas Intermediate (WTI) crude oil call options since January, expecting more upside to prices after Israeli airstrikes on Iran sparked fears of a wider Middle East conflict. Call options grant the holder a right to buy futures contract at the preset price and date, and a rise … Read more
(Reuters) – U.S. natural gas futures climbed about 3% on Friday, tracking gains in oil prices after Israel launched strikes against Iran, raising worries the conflict could disrupt Middle Eastern oil and gas supplies. U.S. crude futures jumped $4.94, or 7.3%, to settle at $72.98 a barrel, their highest close since February. Gas futures for … Read more
(Reuters) – The West’s energy watchdog said on Friday it was ready to release oil stocks should the market experience shortages following Israel’s attack on Iran, drawing criticism from rival OPEC which said the statement would only create fear in the market. The International Energy Agency, representing oil consumers, and the Organization of the Petroleum … Read more
Israel carried out strikes on Iran on Friday, targeting its nuclear facilities, ballistic missile factories and military commanders at the start of what it warned would be a prolonged operation to prevent Tehran from building an atomic weapon. The National Iranian Oil Refining and Distribution Company said refining facilities and oil storage did not sustain … Read more
(Reuters) – U.S. President Donald Trump on Thursday said he would not fire Federal Reserve Chair Jerome Powell, adding that he “may have to force something” as part of his ongoing push for the central bank to lower rates. “Raise your rates. You don’t have to keep them up here. If it’s going to go … Read more
By Ron Bousso (The opinions expressed here are those of the author, a columnist for Reuters.) Israel strikes Iran, Iran retaliates Tehran could opt to target Strait of Hormuz, a chokepoint for oil shipping Saudi Arabia, UAE, have sought to bypass Hormuz with pipelines (Reuters) – LONDON, June 13 – Israel’s strikes on Iran on … Read more
(Reuters) – Israel launched widescale strikes against Iran on Friday, saying it targeted nuclear facilities, ballistic missile factories and military commanders during the start of a prolonged operation to prevent Tehran from building an atomic weapon. Iran, which has denied such intentions, has in the past threatened to close the Strait of Hormuz for traffic … Read more
Summary Oil gains of up to 14% were largest intraday move since 2022 Iran’s nuclear facility in Natanz damaged in Israeli attack No impact to oil flows in the region so far -analysts Israeli attacks kill key Iranian military commanders Trump urges Iran to make a deal over its nuclear programme (Reuters) – Oil prices … Read more
(Reuters) – U.S. ultra-low sulfur diesel futures hit the highest level since February, outpacing gains in oil and gasoline as analysts warned that diesel supply is the most exposed to the conflict in the Middle East. Israel on Friday launched the biggest ever direct attack on Iran and said the huge wave of airstrikes was … Read more
By Kevin Crowley and Kailey Leinz US Energy Secretary Chris Wright Photographer: Pete Kiehart/Bloomberg US Energy Secretary Chris Wright said it’s “unlikely” the country’s oil production will drop next year, contrary to the expectations released this week by a government agency. Much will depend on oil prices and whether producers will follow through on pledges … Read more
By Erwin Seba Oil gains of up to 14% were largest intraday move since 2022 Iran’s nuclear facility in Natanz damaged in Israeli attack No impact to oil flows in the region so far -analysts Israeli attacks kill key Iranian military commanders Trump urges Iran to make a deal over its nuclear programme HOUSTON, June … Read more
(Reuters) – The Paris-based International Energy Agency is actively monitoring the impact of clashes between Israel and Iran situation on oil markets, Executive Director Fatih Birol said on Friday. “IEA oil security system has over 1.2 billion barrels of emergency stocks”, Birol said in a post on X. Oil prices jumped more than 7% on … Read more
By Heidi Taksdal Skjeseth An offshore oil drilling platform in Norway. Photographer: Carina Johansen/Bloomberg Of all the world’s sovereign wealth funds, Norway’s is one of the most unusual. These giant, state-linked investment vehicles tend to pick and choose what assets they hold to manage risk, maximize returns and further national strategic interests. Not so with … Read more
It’s clear that a boom is following the bust, and the timing couldn’t be worse for the Saudi-led oil cartel. By Javier Blas Moving right along. Photographer: Mauro Pimentel/AFP/Getty Images The Brazilian coffee and oil industries have something in common. Espresso connoisseurs know the country’s coffee production follows a natural biennial cycle, alternating periods of … Read more
(Reuters) – U.S. President Donald Trump expressed frustration on Thursday that oil prices have risen amid supply concerns from potential conflict in the Middle East. Both global and U.S. oil prices surged more than 4% on Wednesday to their highest levels since early April before easing a bit on Thursday. “I don’t like – the … Read more
U.S. liquefied natural gas producer NextDecade said on Thursday that its units have finalized contracts with Bechtel Energy to construct train 4 and train 5 at its Rio Grande LNG facility, with a combined value of about $9 billion. Under engineering, procurement, and construction (EPC) contracts, NextDecade agreed to pay Bechtel about $4.77 billion under … Read more
Oil prices jumped more than 5% on Friday to hit the highest in more than two months after Israel said it struck Iran, raising concerns of escalating tensions in the Middle East that could disrupt oil supplies. Brent crude futures rose $3.91, or 5.64%, to $73.27 a barrel by 0146 GMT, the highest since April … Read more
(The opinions expressed here are those of the author, a columnist for Reuters)*Section 899 proposes up to 20% tax on foreign investors’ income *Proposal is part of President Trump’s signature tax bill *The tax could deal a hefty blow to European oil giants’ profits By Ron Bousso LONDON, June 12 – A proposed U.S. tax … Read more
By Jonathan Randles Sunnova Energy International Inc. won court approval to start drawing on a new $90 million bankruptcy loan, funding that will help keep the rooftop solar company afloat while it sells its business in Chapter 11. During a Thursday court hearing, Judge Alfredo Perez authorized Sunnova to make an initial $15 million draw … Read more
June 12 (Reuters) – The New York State Public Service Commission approved 29 infrastructure projects worth $636.2 million, enabling 642 megawatts of electrification upgrades, the commission said on Thursday. These projects were proposed by Consolidated Edison (ED.N), Niagara Mohawk Power Corporation, New York State Electric & Gas Corporation (NYSEG), and Rochester Gas and Electric Corporation … Read more
Most countries in the Group of Seven nations are prepared to go it alone and lower the G7 price cap on Russian oil even if U.S. President Donald Trump decides to opt out, four sources familiar with the matter said. G7 country leaders are due to meet on June 15-17 in Canada where they will … Read more
Foreign energy firms continue operating normally in Iraq, a senior Iraqi official told Reuters on Thursday, after U.S. President Trump said U.S. personnel were being moved out of the Middle East because “it could be a dangerous place”.The Iraqi oil ministry did not receive any notification from operators regarding staff reductions, added the official, who … Read more
JP Morgan downplayed geopolitical concerns on Thursday and maintained its base case forecast for oil prices to stay in the low-to-mid $60s through 2025 and $60 in 2026, but said certain worst-case scenarios could send prices surging to double those levels. U.S. President Donald Trump said on Wednesday the United States was moving personnel out … Read more
HOUSTON–(BUSINESS WIRE)–Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), and Halliburton (NYSE: HAL) jointly developed a new process that enables closed-loop, feedback-driven completions in Colorado. This intelligent fracturing process combines automated stage execution with subsurface feedback to optimize delivery of energy into the wellbore without relying on human intervention. The capability enhances the previous implementation of … Read more
(Reuters) – Renewable energy sources like wind and solar power are needed to meet rapidly growing energy demand in the United States amid near-term obstacles to increasing natural gas capacity, NextEra <NEE.N> CEO John Ketchum said on Tuesday. Competition and high costs to obtain gas turbines, a construction labor shortage, and the costs associated with … Read more
U.S. natural gas output and demand will both rise to record highs in 2025, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO) on Tuesday. EIA projected dry gas production will rise from 103.2 billion cubic feet per day (bcfd) in 2024 to 105.9 bcfd in 2025 and 106.4 bcfd in … Read more
(Reuters) – U.S. crude stocks fell last week as refining activity picked up, driving gasoline and distillate inventories higher, the Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 3.6 million barrels to 432.4 million barrels in the week ended June 6, the EIA said, compared with analysts’ expectations in a Reuters poll … Read more
Summary Oil prices ease from more than two-month peak Market focusing on Middle East tension, US-Iran talks US, Iran officials to meet on Sunday in Oman (Reuters) – Oil prices fell on Thursday after sharp gains in the previous session as market participants assessed a U.S. decision to move personnel from the Middle East ahead … Read more
Chris Wright isn’t just rolling back Biden-era policies, he’s intent on resetting expectations. By Jennifer A Dlouhy Call it “the great energy reset.” Trump administration officials increasingly consider the ongoing surge in electricity demand — and the clamor for economic development tied to it — as an opportunity to shift the paradigm around developing the … Read more
Alberta Premier Danielle Smith said on Wednesday the province is working to present Prime Minister Mark Carney with a proponent and route for a potential new crude pipeline from Alberta to the Port of Prince Rupert in British Columbia. Smith said the pipeline would be built in tandem with the Pathways Alliance carbon capture and … Read more
The system—with an endowment second only to Harvard’s—is diversifying into wind and solar energy at a fraught time for renewables. By Janet Lorin A crypto data center in Pyote, Texas, on land leased from the University of Texas System. Photographer: Jordan Vonderhaar for Bloomberg Markets Scores of wind turbines, each as tall as a 50-story … Read more
By Amanda Stephenson Canada aims to diversify exports amid US trade tensions Carney government seeks projects to boost Canada’s energy status CALGARY, June 10 (Reuters) – The U.S. relies on Canadian oil imports, despite comments to the contrary by U.S. President Donald Trump, Cenovus Energy (CVE.TO) CEO said on Tuesday. Trump has threatened on-again, off-again … Read more
(Reuters) – Shell, the world’s largest trader of liquefied natural gas, will add up to 12 million metric tons of additional capacity between now and the end of the decade from projects under construction, a top executive said on Wednesday. “(There is) up to 12 million tons of additional (LNG) capacity that we’re adding between … Read more
Summary Markets cautious on US-China trade talks outcome Rising supplies remain a key focus Weekly EIA crude and fuel inventory report due at 1430 GMT (Reuters) – Oil prices rose to a seven-week high on Wednesday as markets assessed the outcome of U.S.-China trade negotiations, while pessimism over U.S.-Iran nuclear talks also provided support. Brent … Read more
There’s no peak in global oil demand on the horizon and it will take trillions in investment in the coming decades to meet that need, the secretary-general of the Organization of Petroleum Exporting Countries said Tuesday. Primary energy demand is forecast to rise by 24 per cent between now and 2050, surpassing 120 million barrels … Read more
Cheniere Energy, the largest liquefied natural gas exporter in the U.S., has applied to the Federal Energy Regulatory Commission for permission to expand its Sabine Pass plant, according to a FERC document. Cheniere filed a joint application, dated June 6, to FERC for authorization to construct and operate the Sabine Pass Stage 5 Expansion Project, … Read more
By Will Wade US data centers are rapidly driving up demand for power, with the official forecast for electricity consumption next year almost doubling in the past month. Total power usage in the US is expected to climb 2.15% in 2026, spurred largely by a 5% spike from commercial users because of the expansion of … Read more
By Ari Natter and Jennifer A Dlouhy The Trump administration will propose scrapping Biden-era climate mandates requiring the nation’s power plants to curb planet-warming greenhouse gas emissions as soon as Wednesday, according to people familiar with the matter. The Environmental Protection Agency is also set to advance a plan for unwinding limits on mercury and … Read more
Oil demand growth will remain robust over the next two and a half decades as the world population grows, OPEC Secretary General Haitham Al Ghais said on Tuesday. The organization expects a 24% increase in the world’s energy needs between now and 2050, with oil demand surpassing 120 million barrels per day over that time … Read more
WASHINGTON, June 10 (Reuters) – The U.S. Energy Department’s loan office should fund oil and gas infrastructure, a White House aide said on Tuesday, as President Donald Trump’s administration moves away from supporting projects designed to curb climate change. “One of the big problems is, in the past the … Loan Program Office has been … Read more
By Mia Gindis and David Wethe The US sees domestic crude production declining next year for the first time since 2021 in a blow to US President Donald Trump’s push for American energy dominance. Output is now expected to slip to 13.37 million barrels a day in 2026 from about 13.42 million barrels a day … Read more
By Scott Disavino US and China enter second day of talks in London Saudi crude exports to China set to fall slightly Upcoming: US oil inventory data from API and EIA NEW YORK, June 10 (Reuters) – Oil prices held near a seven-week high on Tuesday as the market awaited direction from trade talks between … Read more
WASHINGTON, June 10 (Reuters) – The U.S. Senate should make changes to House budget reconciliation bill provisions that phase out clean-energy tax credits, including easing start-date requirements, Republican Senator John Curtis of Utah said on Tuesday. Curtis, one of a handful of Senate Republicans who have said they want to preserve some of the clean-energy … Read more
Shares are down about 27 per cent in 2025, making it the weakest performer of the so-called Magnificent Seven stocks Bloomberg News Tesla Inc. received a pair of downgrades on Monday, with analysts warning that Elon Musk’s electric-vehicle company is facing a highly uncertain outlook, especially on the political front. The stock fell 1.1 per cent in … Read more
By Josh Sisco, Silla Brush, and Madlin Mekelburg Coal on barges in Pittsburgh. Photographer: Justin Merriman/Bloomberg The world’s largest asset managers urged a federal judge in Texas to dismiss a lawsuit brought by Republican state attorneys general claiming they colluded to reduce coal output, in a case that threatens how US firms oversee trillions of … Read more
In the energy sector, equipment reliability is not just a maintenance goal—it’s a business imperative. As pressure mounts to optimize production while reducing downtime and risk, operators are increasingly turning to advanced monitoring technologies to stay ahead of mechanical issues. One of the most impactful of these is vibration monitoring, particularly when applied to turbomachinery … Read more
By Lisa Baertlein Summary Fees are part of U.S. effort to counter China dominance on the high seas LNG export license suspension penalty removed Vehicle carrier fee changed to $14 per ton from $150 per car capacity Vehicle carriers in U.S. Maritime Security Program exempt (Reuters) – The U.S. Trade Representative softened fee proposals for non-U.S.-built … Read more
The U.S. Environmental Protection Agency on Monday proposed approving Texas’ application to oversee its own permitting for projects to inject carbon dioxide underground, a move long sought by that state’s regulators and oil and gas companies with projects in the wings. EPA Administrator Lee Zeldin said Texas is best positioned to protect its drinking water … Read more
Summary New wastewater permitting rules to raise costs for Texas producers Water disposal costs to rise 20-30% in Delaware formation – B3 Insights Costly new infrastructure, permit delays to hit small operators most (Reuters) – New guidelines on permitting for wastewater disposal wells in Texas are threatening to drive oil producers’ costs higher as companies … Read more
Summary Brent, WTI extend gains from previous day U.S. and China head into second day of talks in London Saudi Arabia’s crude exports to China set to inch down (Reuters) – Oil prices climbed on Tuesday as investors awaited the outcome of U.S.-China trade talks and as Saudi Arabia’s crude supply to China is set … Read more
By Josh Saul The developer of a New Jersey offshore wind farm designed to power more than 700,000 homes has pulled the plug on the project, the latest setback for a sector whose prospects have worsened under the Trump administration. “This filing marks the closing of a chapter,” Atlantic Shores Offshore Wind Chief Executive Officer … Read more
Kirkland hit the top of the legal advisory rankings for United States energy deals by value for the first time in 2022 Bloomberg News Join the conversation Kirkland & Ellis spent a decade building a billion dollar-plus energy and infrastructure business and becoming the top legal adviser for United States oil and gas deals. It was perfectly placed to … Read more
By Alex Lawler OPEC+ is accelerating its plan to unwind output cuts Saudi Arabia accounted for biggest output increase Estimates on UAE and Iraq output are wide-ranging LONDON, June 9 (Reuters) – OPEC oil output rose in May by less than the volume planned, a Reuters survey found, as Iraq made further cuts to compensate … Read more
(Reuters) – Argentina’s mergers and acquisitions market could grow significantly in the coming years if President Javier Milei’s economic reforms continue, Juan Tripier, director of M&A and corporate finance at PricewaterhouseCoopers (PwC) Argentina, told Reuters. Investors have shown renewed interest in Argentina following Milei’s measures, which include sharp reductions in inflation and public spending, a … Read more
By Liz Hampton opec Hello Power Up readers! Oil prices are steady to kick off the week ahead of U.S.-China trade talks in London on Monday. Any trade deal between the two countries could support the global economic outlook, boosting demand for commodities like oil. Brent crude futures were at $66.58 a barrel, up 11 … Read more
By Mitchell Ferman When engineers prepare to drill for oil, they know the spot deep underground where the well must end and can choose their starting point, but there are many possible routes in between. Optimizing that subsurface path — evaluating geological opportunities and challenges to ensure a successful job — has been a time-consuming … Read more
California’s fuel imports rose to the highest in four years in May as refiners turned to historical trading partners in Asia and tapped some unusual routes to make up for shortages in the No.2 U.S. oil consumer state, according to shipping data and traders. The rise in shipments to California offers an early look at … Read more
Description: MCOT is a novel multiphase oil well tester algorithm which enables the calculation of an unseparated emulsion’s oil, water and gas components over certain ranges of WC and GVF flow regimes. The use of a GLCC bulk degasser greatly expands MCOT’s GFV operationing range. Benefits: Lower cost, smaller footprint, low weight, multiphase meter, … Read more
June 9 (Reuters) – Baker Hughes said on Monday it will sell its precision sensors and instrumentation (PSI) product line to aerospace and defense parts manufacturer Crane for $1.15 billion, as the oilfield services provider looks to optimize its portfolio. CEO Lorenzo Simonelli has been reshaping Baker Hughes to adapt to the global energy transition, shedding non-core … Read more
Ron Bousso Summary EU share of renewables in power generation rose to 47% in 2024 EU requires $1.4 trillion in grid investment by 2040, report says Ratio of investments in renewables and grids has dropped in recent years, IEA says LONDON, June 9 – Europe’s ambition to develop cheap, clean energy has recently received a … Read more
Crude prices have fallen as tariffs threaten to slow the global economy By Nayla Razzouk Global oil investments are expected to drop six per cent in 2025, in the first such decline in a decade excluding the year of the COVID-19 slump, according to the International Energy Agency. “This decline in oil investment is driven … Read more
Summary Trade group cites higher costs from Trump’s tariffs New US solar capacity in 2030 seen down 10% from 2025 Proposed end of clean energy tax credits could slam market more (Reuters) – New U.S. solar energy installations are expected to fall over the next five years as the industry grapples with a shift in … Read more
By Reuters (Reuters) – Sunnova Energy said on Sunday it had filed for Chapter 11 bankruptcy protection in the United States, as the residential solar panel installer buckled under the pressure of mounting debt and weakening demand. Shares were down 36.4% at 14 cents in premarket trading. Sunnova filed for protection in the Bankruptcy Court for … Read more
Summary Refiners shop around as OPEC producers pump more US light, sweet crude faces competition from Kazakh CPC blend Guyana, Brazil could boost crude exports to Europe Producers face uncertainty due to economic slowdown concerns (Reuters) – Rising OPEC+ supplies and new streams of oil coming online globally are increasing options for European and Asian … Read more
Comes in the face of market uncertainty over federal support of clean energy Bloomberg News Solar Mosaic LLC, a provider of home solar loans backed by Jared Kushner’s investment firm, is planning to file for bankruptcy in the face of market uncertainty over federal support of clean energy, according to people familiar with the matter. The Oakland, California-based company recently … Read more
A senior Taiwanese official said on Saturday he had this week visited the site of a potentially enormous new liquified natural gas (LNG) project in Alaska that the Trump administration has been pushing hard to allies in Asia as a supply option. Energy developer Glenfarne had said on Tuesday that 50 firms had formally expressed … Read more
By David Shepardson GM, Stellantis have paid significant fuel economy penalties in recent years Senators say proposal would save automakers $200 million Proposal is latest move in Washington to make it easier to sell gas-guzzlers WASHINGTON, June 6 (Reuters) – The Transportation Department paved the way for looser U.S fuel economy standards on Friday by … Read more
Summary US and China hold trade talks in London on Monday Potential trade deal could boost oil demand China’s crude imports hit four-month low in May (Reuters) – Oil prices were stable on Monday as investors awaited U.S.-China trade talks in London in the hope that a deal could boost the global economic outlook and … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a sixth week in a row for the first time since September 2023, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future … Read more
Summary CEO warns of ‘a concerning increase in serious near-misses’ in internal video Tells staff to double down on safety regardless of challenges Chevron laying off up to 20% of workforce Investigation into Angola fire underway (Reuters) – Chevron CEO Mike Wirth told employees they needed to reinforce safety standards after a growing number of … Read more
WASHINGTON, June 6 (Reuters) – The U.S. Interior Department approved a plan by Signal Peak Energy to expand coal mining, providing exports for Japan and South Korea, the agency said on Friday, as it responded to President Donald Trump’s energy emergency directives. The approval authorizes the Montana-based coal company to recover 22.8 million metric tons … Read more
(Reuters) – The U.S. in recent days suspended licenses for nuclear equipment suppliers to sell to China’s power plants, according to four people familiar with the matter, as the two countries engage in a damaging trade war. The suspensions were issued by the U.S. Department of Commerce, the people said, and affect export licenses for … Read more
Summary Brent, WTI poised to finish the week higher U.S. jobs report shows unemployment steady at 4.2% Trade negotiations continue with China U.S. oil, gas rigs hit lowest level since November 2021 HOUSTON, June 6 (Reuters) – Crude rose more than $1 a barrel on Friday, posting its first weekly gain in three weeks after … Read more
By Christine Dobby The terminus for the Coastal GasLink natural gas pipeline is seen at the LNG Canada export terminal under construction in Kitimat, British Columbia, in 2022. Photographer: Darryl Dyck/The Canadian Press/AP Images Pipe(line) Dreams It’s a weird year when formerly mundane events are now super-charged with significance. BT — Before Trump — the … Read more
SHOWCASE Your Company With EnergyNow Feature Banner Ad Marketing (subject to banner availability) This is an excellent option for companies who either don’t have a lot of content to publish but want a lot of “brand” and service/product exposure or for companies that want that consistent “brand” exposure even if they have a lot … Read more
June 6 (Reuters) – HSBC expects OPEC+ to accelerate supply hikes in August and September, which is likely to raise downside risks to the bank’s $65 per barrel Brent forecast from the fourth quarter of 2025, it said in a research note on Friday. The bank expects OPEC+ to implement two substantial production increases in … Read more
Musk called for Trump’s impeachment and insinuated Trump was involved in the files related to disgraced New York financier Jeffrey Epstein By Akayla Gardner, Josh Wingrove, Kate Sullivan and Derek Wallbank U.S. President Donald Trump and Tesla CEO Elon Musk speak to the press as they stand next to a Tesla vehicle on the South … Read more
By Eamon Farhat Britain is relying on a renewables expansion that is too slow to meet the booming power needs of data centers and risks missing its 2030 decarbonization targets as a result. Regardless of whether the nation’s data center buildout maintains its current momentum or accelerates, increasing electricity demand won’t allow it to meet … Read more
By Nicholas Lua Ethane terminal pipelines and other infrastructure stands inside the Sunoco Logistics Marcus Hook Industrial Complex in Marcus Hook, Pennsylvania, U.S., on Friday, April 8, 2016. U.S. production of ethane, a key feedstock for petrochemical manufacturing, is expected to increase to 1.4 million barrels per day by 2017 as more facilities come online, … Read more
By Nichola Groom Budget bill risks a 40% drop in home solar installs Would end tax credits for solar leasing companies, homeowners Change could hurt manufacturers that supply residential solar Solar firms urge Senate to restore leasing credit before the bill becomes law June 5 (Reuters) – A last-minute tweak to the Republican budget bill … Read more
More than 30,000 people from 100 countries are expected to descend on the white-collar heart of Canada’s oilpatch next week for the Global Energy Show, which is to kick off with a keynote address from the head of the Organization of the Petroleum Exporting Countries. OPEC secretary-general Haitham al-Ghais is set to deliver remarks on … Read more
(Reuters) – Airlines need to reach long-term agreements to buy bigger quantities of sustainable aviation fuel if they want to boost global volumes of the lower-emission fuel required for industry climate targets, a Bayer executive said on Tuesday. Airline members of the International Air Transport Association are sticking to a target of net zero emissions by 2050 … Read more
Musk has lashed out at the tax bill, describing it as a budget-busting ‘disgusting abomination’ By Erik Wasson Elon Musk is on a mission to block United States President Donald Trump’s tax bill after he tried — and failed — to convince Republican lawmakers to preserve valuable tax credits for electric vehicles in the legislation, … Read more
By Timothy Gardner WASHINGTON, June 5 (Reuters) – A coalition of nearly 250 companies and business and labor groups on Thursday urged top U.S. Republican senators to preserve a credit for the emerging hydrogen fuel industry as they hash out President Donald Trump’s tax and spending bill. Oil and gas lobbying group the American Petroleum … Read more
By Robert Tuttle Emissions at a facility in the Athabasca oil sands near Fort McMurray, Alberta. Photographer: Ben Nelms/Bloomberg Canada’s oil sands industry reduced its emissions per barrel for the sixth straight year in 2023, even as one growing portion of the sector moved in the opposite direction, according to new Alberta government data released … Read more
The CEO of a company seeking to build a liquefied natural gas terminal near Philadelphia told Reuters on Wednesday he met officials at the White House this week to “provide intelligence” about the project in the works for years despite local opposition. Penn America Energy Holdings wants to export 7.2 million tons a year of … Read more
(Reuters) – Oil prices steadied on Friday and were on track for their first weekly gain in three weeks after U.S. President Donald Trump and Chinese leader Xi Jinping resumed trade talks, raising hopes for growth and stronger demand in the world’s two largest economies. Brent crude futures fell 9 cents, or 0.1%, to $65.25 a barrel … Read more
By Salma El Wardany, Anna Shiryaevskaya, and Ruth Liao Egypt has indicated that it plans to in the coming week finalize some purchases of liquefied natural gas for delivery over the next few years, as the country deepens its dependence on imports. The government is in the final process to strike deals with as many … Read more
By Ram Anand Workers at a Petroliam Nasional Bhd. site in Johor, Malaysia. Photographer: Ore Huiying/Bloomberg Petronas, Malaysia’s state-owned oil and gas company, will cut about 10% of its workforce in a firm-wide restructuring as it looks to reduce costs due to falling crude prices. The company will reduce headcount by more than 5,000 people, … Read more
The current version of President Donald Trump’s tax and spending bill would reduce the amount of renewable energy capacity added in the US over the next decade, resulting in 10% less wind, solar, and storage capacity by 2035. Summary by Bloomberg AI The bill would particularly impact wind power, with new capacity shrinking by 35% … Read more
A key data release may underline how the US oil industry is reining in production growth in response to lower prices. Are we close to peak shale production? In the weeks since OPEC+ members agreed to ramp up output, the mood in the US oil business has shifted rapidly. At an industry gathering this week in … Read more
(Reuters) – A surge in clean energy spending is expected to drive a record $3.3 trillion (2.89 trillion euros) in global energy investment in 2025, despite economic uncertainty and geopolitical tensions, the International Energy Agency (IEA) said on Thursday. Clean energy technologies, including renewables, nuclear, and energy storage, are set to attract $2.2 trillion in … Read more
Ron Bousso Summary Trump administration seeks licence for ethane exports to China China accounts for 46% of US ethane exports Ethane is used to produce plastics LONDON, June 5 – The Trump administration’s latest efforts to curb U.S. petrochemical exports to China could end up hurting the U.S. energy sector just as much, or more, … Read more
By Gavin Maguire LITTLETON, Colorado, June 4 (Reuters) – U.S. power producers have lifted output from both fossil fuels and clean energy sources to new highs so far in 2025, on the back of steadily rising energy demand from data centers, businesses and households. Average retail electricity prices have risen in tow, and are hovering … Read more
Summary US gasoline, distillate stocks post big weekly builds Saudi Arabia cuts prices for Asian crude buyers to 2-month low Bearish economic outlook weighs on oil prices, analysts say LONDON, June 5 (Reuters) – Oil prices steadied on Thursday after falling more than 1% the previous day because of a build in U.S. gasoline and … Read more
(Reuters) – Canadian Natural Resources has restarted its Jackfish 1 oil sands site in northern Alberta after determining wildfires in the region are a safe distance away. The company said its operations will ramp up over the next several days, targeting full production of approximately 36,500 bpd by June 6. Canadian Natural evacuated non-essential workers … Read more
(Reuters) – U.S. crude oil stockpiles fell last week as oil refiners ramped up production with the start of the summer driving season, while fuel inventories rose amid weaker demand, data from the Energy Information Administration showed on Wednesday. Crude inventories fell by 4.3 million barrels to 436.1 million barrels in the week ended May … Read more
(Reuters) – Saudi Arabia, the world’s biggest oil exporter, cut its prices for Asian crude buyers close to the lowest level in four years on Wednesday, in what the market sees as the country’s attempt to regain market share. Saudi Arabia has pushed OPEC+ this year to raise its output targets ahead of schedule. OPEC+ … Read more
By Naureen S Malik and Mark Chediak The rapid development of data centers connected to the largest US electric grid raised costs by $9.4 billion, an expense that consumers from Illinois to Washington, D.C., will see reflected in their utility bills starting this month. Overall costs rose by 180%, with the growing energy needs of … Read more
The state again looks to cut incentives for home users in a push to curb soaring electricity rates. By Mark Chediak A solar system atop a San Francisco housing development. Panel buyers would lose some incentives under a new proposal. Photographer: David Paul Morris/Bloomberg California prides itself as a champion of solar power. It helped … Read more
By Nate Raymond (Reuters) – Fishing companies and offshore wind opponents filed a lawsuit on Tuesday challenging the Trump administration’s decision to reverse course and allow construction to resume on Empire Wind, a $5 billion wind farm project off New York’s coast. Protect Our Coast New Jersey, Clean Ocean Action, ACK for Whales and 12 … Read more
The company may also consider selling a minority stake in the business, depending on valuation Bloomberg News Petroliam Nasional Bhd. is considering options for its Canadian company formerly known as Progress Energy Resources Corp., including a sale, according to people familiar with the matter. Petronas, as the Malaysian state energy firm is known, is working with a … Read more
Summary OPEC+ supply rises weigh on sentiment – Rystad analyst Persistent tariff tensions stalks market Upside potential to oil prices limited – Saxo Bank analyst (Reuters) – Oil prices held steady on Wednesday amid global trade tensions and as ongoing OPEC+ output increases were offset by a hit to Canadian supply from wildfires. Brent crude … Read more
Wildfires burning in Canada’s oil-producing province of Alberta have reduced the country’s daily crude production by about 7%. Here is a tally of affected oil production sites so far: CENOVUS ENERGY – CHRISTINA LAKE SITE: Oil sands producer Cenovus evacuated non-essential workers from its Christina Lake site south of Fort McMurray, Alberta on May 29 and … Read more
Stargate’s first AI data center, planned to be completed next year, will require enough electricity to support 300,000 homes, but securing that power isn’t as simple as plugging into the grid. Summary by Bloomberg AI The venture is relying on small, single cycle natural gas turbines to power the Texas megafactory, a technology that’s largely … Read more
(Reuters) – U.S. liquefied natural gas output fell in May due to plant outages and maintenance at the country’s largest export facility, preliminary LSEG ship tracking data show. The U.S. is the world’s largest LNG exporter and monthly changes in production can impact global LNG prices. In May the U.S. exported 8.9 million metric tons … Read more
By Alex Longley Oil inventories have risen sharply across the world in recent weeks, a sign of the pressure that higher output from OPEC+ could place on the global crude market as the year progresses. Crude oil stockpiles globally rose by about 170 million barrels in the past 100 days, according to Kayrros, which monitors … Read more
Alaska LNG can deliver LNG into Asia at a lower cost than Henry Hub pricing from the U.S. Gulf Coast ANCHORAGE, Alaska & NEW YORK–(BUSINESS WIRE)–#Alaska–Glenfarne Alaska LNG, LLC (“Glenfarne”), a subsidiary of Glenfarne Group, LLC and majority owner and lead developer of Alaska LNG, a joint venture with the State of Alaska’s Alaska Gasline … Read more
Pumpjacks in the Permian Basin area in Texas.Photographer: Justin Hamel/Bloomberg Gift this article In this Article Diamondback Energy Inc 140.99 2.47% Follow Viper Energy Inc 40.83 2.14% Follow Sitio Royalties Corp 19.71 13.80% Follow How easy or hard was it to use Bloomberg.com today? Share feedback Have a confidential tip for our reporters?Get in Touch … Read more
By Amy Stillman, Scott Squires, and Andrea Navarro Carlos Slim Photographer: Luis Antonio Rojas/Bloomberg The transformation of Mexico’s richest person into its most important oil baron came about slowly, almost subtly. Carlos Slim built up a stake in Talos Energy Inc. before flipping it for the company’s Mexican unit. There was a 2023 deal for … Read more
By Will Wade and Riley Griffin The Clinton Power Station in Clinton, Illinois. Photographer: John Dixon/The News-Gazette/AP Photo Constellation Energy Corp. agreed to sell power from an Illinois nuclear plant to Meta Platforms Inc. as artificial intelligence sends power demand soaring. The parent company of Facebook, Instagram and WhatsApp signed a 20-year contract to buy … Read more
By Ron Bousso BP’s net debt reached $27 billion by end of Q1 CEO aims to reduce net debt to $14-$18 billion by 2027 Shares have underperformed rivals since strategy reset in February LONDON, June 3 – BP has jumped from crisis to crisis in recent years, severely eroding the British firm’s stature as one … Read more
Mark Carney suggests building a new pipeline to ship more oil to foreign markets, tied to billions in green investments to reduce the industry’s environmental footprint. Summary by Bloomberg AI Alberta Premier Danielle Smith proposes a “grand bargain” that includes rapid approval of a new pipeline alongside large investments from Canadian oil sands companies into … Read more
(Reuters) – President Donald Trump’s budget proposes to shut as soon as in a few months the Northeast Home Heating Oil Reserve, which stores 1 million barrels of diesel and was designed to protect consumers. The reserve, created in 2000 by former President Bill Clinton, holds enough for roughly 10 days of heating homes. It … Read more
(Reuters Breakingviews) – Wael Sawan must feel like it’s Groundhog Day. In recent weeks Shell’s chief executive has been fielding one question over and over again: whether he’s considering merging his $198 billion group with struggling UK rival BP. Drill down into whether a swoop for the $77 billion oil major makes any sense, and Sawan’s lack … Read more
Venezuela’s oil exports remained almost unchanged last month as increased shipments to customers in China offset a decline in U.S.-authorized sales, according to vessel-tracking data and internal documents from state company PDVSA. The U.S. Treasury and State departments in March revoked the authorizations they had granted in recent years for PDVSA’s customers and partners to … Read more
MIDLAND, Texas, June 03, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc. (NASDAQ:VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), and Sitio Royalties Corp. (NYSE:STR) (“Sitio”) today announced that they have entered into a definitive agreement under which Viper will acquire Sitio in an all-equity transaction valued at approximately $4.1 billion, … Read more
Summary Global refining margins hit a 14-month high in May Capacity closures in Europe, US, have tightened fuel supply Margins also boosted by summer peak fuel demand, relatively low stocks (Reuters) – Refiners across the globe are reaping unexpected profits from producing key fuels in recent weeks, offering an ailing sector respite before an anticipated … Read more
My Power Hour discussion with Representatives Chip Roy and Josh Brecheen By Alex Epstein I invited Representatives Chip Roy and Josh Brecheen for a discussion about how they defeated a hoard of subsidy-seeking lobbyists to cut off new solar and wind subsidies in the “Big Beautiful Bill.” I had the opportunity to help out with … Read more
Goldman Sachs anticipates the eight country OPEC+ oil group will implement a final 0.41 million barrels per day (mb/d) production increase in August, the bank said in a note dated Sunday. “Relatively tight spot oil fundamentals, beats in hard global activity data, and seasonal summer support to oil demand suggest that the expected demand slowdown … Read more
June 2 (Reuters) – Baker Hughes (BKR.O) will sell 65% of its surface pressure control business to a unit of equipment maker Cactus (WHD.N) for $344.5 million, as the oilfield services provider focuses on its core businesses amid volatile oil prices. The companies will form a joint venture to hold the business, they said on … Read more
In the fast-paced industries of oil and gas, construction & mining, the need for skilled labor is constant, yet project fluctuations often create periods of intermittent employment for workers. Recognizing this gap and offering a solution that benefits both companies and skilled professionals, Sideworx Connect has made its mark as a premier recruitment agency in … Read more
(Reuters) – Wildfires burning in Canada’s oil-producing province of Alberta have affected more than 344,000 barrels per day of oil sands production, or about 7% of the country’s overall crude oil output, according to Reuters calculations. At least two thermal oil sands operators south of the industry hub of Fort McMurray evacuated workers from their … Read more
(Reuters) – U.S. natural gas futures jumped about 8% to a three-week high on Monday on a drop in output forecasts for warmer weather and higher demand this week than previously expected. Analysts said gas prices also gained some support from a 5% increase in U.S. oil futures after OPEC+ kept its output increase unchanged. … Read more
Summary Iran set to reject US nuclear proposal US dollar weakens on fresh tariff threats OPEC+ to raise output by 411,000 bpd in July US crude inventories likely fell last week LONDON, June 3 (Reuters) – Oil steadied on Tuesday, supported by rising geopolitical tensions as Russia and Ukraine ramped up the war and Iran … Read more
The Trump administration is planning to repeal curbs on oil drilling in the National Petroleum Reserve-Alaska, which holds an estimated 8.7 billion barrels of recoverable oil. Summary by Bloomberg AI The measure would open up new opportunities for oil and gas development in the 23 million acre reserve, responding to a directive Trump issued after … Read more
By Ahmad Ghaddar, Dmitry Zhdannikov and Alex Lawler Saudi Arabia wanted to further speed up oil hikes Russia suggested hikes shall pause Sources say tensions not critical for now For OPEC+ unwinding its cuts, see Explainer LONDON, June 2 (Reuters) – Saudi Arabia and Russia had to reach a difficult compromise on OPEC+ policies on … Read more
(Reuters) – Prime Minister Mark Carney, seeking to reduce Canada’s economic ties to the United States, on Monday met the heads of the 10 provinces as part of a push to slash the time needed to approve mining and energy projects. It can take a decade or more for a mine or a pipeline to … Read more
The real increase in output will likely be smaller than the headline figure, with perhaps only half reaching the market. By Julian Lee Oil ministers from OPEC+ members agreed on another big increase in production targets for July. But is there room for those barrels without crashing prices? A third straight boost of 411,000 barrels a day will … Read more
(Reuters) – Russian energy giant Gazprom’s average daily natural gas supplies to Europe via the TurkStream undersea pipeline increased by 10.3% in May from a month earlier, Reuters calculations showed on Monday. Turkey is the only transit route left for Russian gas to Europe after Ukraine chose not to extend a five-year transit deal with … Read more
U.S. regulators gave Venture Global permission on Friday to proceed with some construction activities at its proposed CP2 LNG facility in Louisiana, according to a Federal Energy Regulatory Commission document. Venture Global is proposing to build a 20 million metric tons per annum plant at Calcasieu Pass. FERC approved the plant’s entire construction last week. … Read more
By Valerie Volcovici WASHINGTON, May 30 (Reuters) – The U.S. Department of the Interior said on Friday it was implementing emergency permitting procedures to accelerate reviews of geothermal energy projects as part of President Donald Trump’s energy agenda. The projects that will be fast-tracked include three in Nevada led by Ormat (ORA.N), which received funding … Read more
In the age of AI, how can you use technology to digitize land records, shorten project timelines, reduce costs, and improve accuracy? Join us on June 11 to learn how advanced AI technologies are being applied to modernize land records management. Michelle Uzick, Manager of Land Records Services at Pandell, and Dean Ruston, Senior Account … Read more
By Blake Ericson & Elizabeth McGurk In today’s energy landscape, methane emissions reduction has become a defining challenge. Driven by rising expectations from regulators, investors, and global markets, energy operators are under pressure to provide concrete and credible data—not just estimates. According to the International Energy Agency (IEA), methane emissions from fossil fuel operations are … Read more
Prime Minister Mark Carney sat down with oil and gas executives in Calgary Sunday to discuss partnerships and to get their input for his plans to make Canada an energy superpower. Carney, in his first visit to Calgary since being sworn in as prime minister, held a closed door roundtable with more than two dozen … Read more
Summary Oil trades more than 3% higher after 1% drop last week OPEC+ to raise output by 411,000 bpd in July Group had been expected to discuss bigger increase (Reuters) – Oil prices jumped by about 3% on Monday after producer group OPEC+ kept output increases in July at the same level as the previous … Read more
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