Oil dived, bonds rallied and stocks surged on Wednesday as a two-week ceasefire in the Middle East was seen as paving the way for a lasting peace and resumption of Gulf oil and gas exports. U.S. President Donald Trump said he agreed to suspend bombing and attacks on Iran for two weeks and that a … Read more
April 7 (Reuters) – House Democrats questioned the legality of the Trump administration’s deal to return nearly $1 billion to TotalEnergies (TTEF.PA) to stop the development of two U.S. offshore wind farms, according to letters sent to administration officials and the French energy company. U.S. Representatives Jared Huffman and Jamie Raskin, both Democrats, sent a … Read more
By Curtis Williams Freeport LNG requests FERC approval to demolish obsolete Texas import facilities US shift from LNG importer to top exporter driven by shale revolution Company says removal will improve safety and reduce maintenance on unused assets HOUSTON, April 7 (Reuters) – Freeport LNG has asked U.S. regulators for permission to demolish facilities in … Read more
By Timothy Gardner WASHINGTON, April 7 (Reuters) – A group of Democratic U.S. senators on Tuesday pressed Treasury Secretary Scott Bessent on whether enormous tankers that ship liquefied natural gas qualify for a lucrative tax credit meant for smaller boats that burn the fuel. Here are details about the issue. The Alternative Fuel Excise Tax … Read more
It may take months to begin to see the uptick in production from shale fields in places like the Permian Basin By David Wethe and Kevin Crowley United States shale drillers are expected to follow President Donald Trump’s call for higher oil production — but not just because he said so. The 68 per cent … Read more
Bakken oil traded at the Clearbrook, Minnesota, hub shot up to an US$18 premium By Robert Tuttle and Christopher Charleston The spiderweb of cracks in the global oil market are spreading across the Rocky Mountains and U.S. Great Plains as demand for a shrinking pool of accessible crude escalates. Oil grades from Texas and North … Read more
(Reuters) – U.S. power consumption, which hit its second straight annual record high in 2025, will rise further in 2026 and 2027, the Energy Information Administration said in its Short-Term Energy Outlook on Tuesday. The EIA projected power demand will rise from a record 4,195 billion kilowatt-hours (kWh) in 2025 to 4,244 billion kWh in … Read more
(Reuters) – Fuel prices could keep rising for months even after the Strait of Hormuz reopens, the U.S. Energy Information Administration said on Tuesday, deviating from President Donald Trump’s assurances that consumers will see immediate relief when he ends the war with Iran. The U.S.-Israeli war with Iran, now in its second month, has sent … Read more
(Reuters) – Global markets have entered a period of heightened uncertainty ahead of a deadline set by U.S. President Donald Trump for Iran, with investors weighing various outcomes ranging from a ceasefire to renewed military escalation and their implications for oil, currencies and risky assets. Iran showed no sign of agreeing to Trump’s demand that … Read more
(Reuters) – The leaders of the International Energy Agency, the International Monetary Fund and the World Bank will discuss the energy crisis triggered by the Iran war next Monday, IEA executive director Fatih Birol said on Tuesday. “This energy crisis calls for all hands on deck & international cooperation,” Birol said on social media platform … Read more
April 7 – Governments worldwide are trying to shield consumers from soaring energy costs resulting from the U.S.-Israeli war on Iran. Here’s how different countries are responding: INDIA India will review its fuel exports if needed to ensure availability in the local markets, a government official said. India is assessing fuel-supply requests from its neighbours … Read more
MOSCOW, April 7 (Reuters) – NORSI, Russia’s fourth-largest oil refinery, suspended operations on April 5 following a Ukrainian drone attack, two industry sources said on Tuesday. The temporary closure of the refinery will add further uncertainty to Russia’s energy sector, which has been hit by continuous Ukrainian attacks, including those hitting its major oil exporting … Read more
PARIS, April 7 (Reuters) – The current oil and gas crisis triggered by the blockade of the Strait of Hormuz is “more serious than the ones in 1973, 1979 and 2022 together”, Fatih Birol, the head of the International Energy Agency (IEA), told Le Figaro newspaper. “The world has never experienced a disruption to energy … Read more
By Clyde Russell (Reuters) – LAUNCESTON, Australia, April 7 – The U.S. and Israeli war against Iran has been characterised by a series of miscalculations by most of the involved and peripheral parties, but the real danger is the delusion over the scale of the resulting energy crisis. It is delusional of any nation to … Read more
U.S. natural gas futures edged up to a one-week high on Tuesday on a preliminary decline in daily output. That small price increase came despite forecasts for milder weather and lower demand over the next two weeks than previously expected and a daily decline in the amount of gas flowing to U.S. liquefied natural gas … Read more
U.S. strikes on Iran’s Kharg Island do not represent a change in American strategy, U.S. Vice President JD Vance said on Tuesday as a U.S. official separately told Reuters the additional strikes on military targets did not impact oil infrastructure. The official, who spoke to Reuters on condition of anonymity, described at least some of … Read more
U.S. President Donald Trump once again exhorted Iran to make a deal by his Tuesday deadline, saying a “whole civilization will die tonight” if an agreement is not reached to end the conflict. “A whole civilization will die tonight, never to be brought back again. I don’t want that to happen, but it probably will,” … Read more
By Dylan Griffiths and Carlos Caminada Dozens of refineries, oil fields, gas plants, ports and other energy infrastructure have been damaged by missile and drone strikes, five weeks into the Iran war. US President Donald Trump threatened to bring “Hell” to Iran with strikes on power plants and other infrastructure if the Strait of Hormuz … Read more
By Eduardo Garcia Pockets of carbon capture projects are emerging in U.S. and Europe as developers capitalize on surging power demand and public funding initiatives but costs remain too high for the sector to boom. March 30 – Google’s recent deal to purchase electricity from a planned 400 MW natural gas plant with carbon capture … Read more
By Veena Ali-Khan and David Carnevali Buyout firm Energy Capital Partners has agreed to re-acquire nuclear services firm EnergySolutions from TriArtisan Capital Advisors LLC, according to a statement provided to Bloomberg News. EnergySolutions will be valued at about $2 billion in the transaction, according to a person familiar with the matter who asked not to … Read more
By Liz Lee and Claire Fu Xi urges safeguards for China’s energy security The Party Central Committee has advanced the new energy security strategy in depth, says Xi China must stay committed to low-carbon development, he adds BEIJING, April 6 (Reuters) – Chinese President Xi Jinping has called for accelerated planning and construction of a … Read more
Summary Iran faces 8 p.m. Washington deadline to open Strait of Hormuz Trump threatens to order attacks on Iran’s bridges, power plants Iran rejects temporary ceasefire, demands permanent end to conflict WTI premium to Brent widens (Reuters) – Oil prices rose on Tuesday ahead of a deadline set by U.S. President Donald Trump for Iran to open … Read more
By Christopher Charleston The war in Iran has sent demand for US oil from overseas toward record levels, bolstering President Donald Trump’s push for “American energy dominance.” But as shipments surge, exports are beginning to run up against their practical limits. Constraints in infrastructure and supply are likely to keep US oil flows well below … Read more
U.S. refiner Phillips 66 said on Monday its first-quarter results were hit by a sharp increase in commodity prices, leaving it with nearly $900 million in pre-tax mark-to-market losses, according to a filing with the Securities and Exchange Commission. Energy prices soared after the U.S.-Israeli war on Iran began in late February. Iran’s effective closure … Read more
By Luc Cohen Government and opposition request 45-day pause in US asset seizure case Venezuela seeks to protect assets like Citgo from creditors Judge requests update on legal representation for Venezuela by May 21 NEW YORK, April 6 (Reuters) – Venezuela’s government and its political opposition are seeking to coordinate their legal defense of the … Read more
By Simon Jessop, Valerie Volcovici and Supantha Mukherjee Water, power usage, pollution, land driving protests Trillium Asset Management seeks detail on Alphabet’s climate strategy Investors flag water risk as emerging threat LONDON, April 6 (Reuters) – Amazon, Microsoft and Alphabet’s Google have each recently abandoned construction of multibillion-dollar data centers over community opposition and now … Read more
By Aref Mohammed Iraq has had to reduce oil production by around 80% Storage has filled up as Strait of Hormuz closure prevented exports Iraq produces more oil than it exports, giving it scope to increase exports even if some capacity damaged BASRA, Iraq, April 6 – Iraq could restore crude oil exports to around … Read more
(Reuters) – Bridger Pipeline’s proposed project to transport Canadian crude from the U.S.-Canada border to Wyoming would cost about $2 billion and have the capacity to transport more than 1 million barrels of oil per day, according to new details released by the company. The company first outlined plans in January to the Montana Department … Read more
(Reuters) – U.S. President Donald Trump on Monday told reporters that Iran could be taken out in one night, “and that night might be tomorrow night”, warning Tehran it had to make a deal by Tuesday night or face the consequences. Trump had earlier vowed to enforce a Tuesday night deadline for Iran to agree … Read more
(Reuters) – U.S. President Donald Trump said on Monday the Tuesday deadline he has set for Iran to make a deal is final, adding that Iran’s proposal was significant but not good enough. “They made a proposal, and it’s a significant proposal. It’s a significant step. It’s not good enough,” Trump said of Iran. “It … Read more
Tankers hugged their home country’s coastline, indicating a different route to a northerly path through Iranian waters By Prejula Prem, Weilun Soon, Julian Lee and Alex Longley Three tankers broadcasting Omani ownership appear to have navigated the Strait of Hormuz by hugging their home country’s coastline, indicating a different route to a northerly path through … Read more
By Marianna Parraga April 6 (Reuters) – A unit of India’s refiner Reliance Industries has begun loading a 2-million-barrel cargo of Venezuelan heavy crude directly bought from state-run energy company PDVSA, according to a company document and shipping data on Monday. Since Caracas signed a flagship oil supply deal with Washington after the U.S. capture … Read more
European gas prices may be underestimating the risks from ongoing Liquefied Natural Gas (LNG) supply disruptions through the Strait of Hormuz, with resilient imports and weak Asian demand masking the impact for now, Goldman Sachs said in a note dated April 2. * European natural gas markets are pricing a lower-than-expected risk premium even as … Read more
Spot premiums for U.S. West Texas Intermediate crude have jumped to all-time highs as competition between Asian and European refiners for supply heats up to replace Middle Eastern oil flows disrupted by the Iran war, industry sources said. Europe is typically the largest importer of U.S. crude, but competition has escalated with Asian buyers scouring … Read more
Bloomberg News Market Snapshot S&P 500 futures 6,650.75 +0.4% Nikkei 225 53,413.68 +0.5% Bitcoin $69,862.54 +3.3% Spot gold $4,703.78 +0.6% Bloomberg Dollar Spot Index 1,213.34 -0.2% Market data as of 05:34 AM ET. Data is subject to provider delays. Five things you need to know Saudi Arabia raised the price of its main oil grade to … Read more
Cambridge Professor Helen Thompson warns that energy disruption triggered by the US-Israel attack on Iran is exposing deep vulnerabilities. The US-Israel war with Iran is emerging as more than a humanitarian crisis, one that’s left thousands of civilians dead and millions displaced. On this week’s Merryn Talks Money, Cambridge University professor Helen Thompson argues that the … Read more
Summary OPEC+ eight members to raise quotas by 206,000 bpd for May US-Iran war largely shuts oil traffic via Strait of Hormuz War leads to worst ever oil supply disruption Tanker loaded with Iraqi crude passes through Hormuz, data shows OPEC+ concerned about attacks on energy assets (Reuters) – OPEC+ agreed on Sunday to raise … Read more
Trump on Sunday issued an expletive-laced threat to destroy Iran’s power plants and blow up ‘everything over there’ Bloomberg News President Trump during a primetime address to the nation at the White House on April 1.Photographer: Alex Brandon/AP Photo/Bloomberg US allies are reportedly pressing for a last-minute deal with Iran, as President Donald Trump extended his deadline … Read more
Summary Strait of Hormuz closure disrupts Middle East oil exports, refiners seek alternatives Trump threatens further action if Strait remains closed Iran allows passage for select vessels OPEC+ agrees modest output rise, war limits actual increases Russian supply also disrupted (Reuters) – Oil prices fell in choppy trade on Monday, as investors awaited clarity on … Read more
(Reuters) – U.S. energy firms this week added to the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes said on Thursday. The oil and gas rig count, an early indicator of future output, rose by five to 548 in the week to April … Read more
Recent U.S. intelligence reports warn that Iran is unlikely to open the Strait of Hormuz any time soon because its grip on the world’s most vital oil artery provides the only real leverage it has over the United States, according to three sources familiar with the matter. The finding suggests that Tehran could continue … Read more
By Arathy Somasekhar WTI soars to nearly $114/bbl, highest since March 9 Trump speech did not clarify when Hormuz might reopen WTI heads for biggest daily absolute price rise since 2020 HOUSTON, April 2 (Reuters) – U.S. oil prices settled more than 11% higher and Brent soared nearly 8% on Thursday in volatile trading, as … Read more
Summary Iran has said it would allow ships with no US or Israeli links Vessels appear to turn of identification systems during crossing Dozens of Japanese-owned ships remain stranded, according to transport ministry data (Reuters) – Three Omani-operated tankers, a French-owned container ship and a Japanese-owned gas carrier have crossed the Strait of Hormuz since … Read more
President Donald Trump on Friday said the U.S. can open the Strait of Hormuz with a little more time, as pressure mounts for his administration to find a quick resolution to a war against Iran. “With a little more time, we can easily OPEN THE HORMUZ STRAIT, TAKE THE OIL, & MAKE A FORTUNE,” Trump … Read more
(Reuters) – The United States is not engaged in any discussions to release additional crude oil from strategic stockpiles, an Energy Department official said on Thursday. The International Energy Agency has said it is considering another coordinated release to address supply disruptions stemming from the war in Iran, after its members in March agreed to … Read more
By David Carnevali and Kevin Crowley Microsoft Corp. is in exclusive talks with Chevron Corp. and investment fund Engine No. 1 over a long-term deal that would underpin a giant power plant in West Texas, providing electricity to a large data center campus. The proposed natural-gas fired power plant is projected to cost about $7 … Read more
April 2 (Reuters) – Oil prices could spike to $120-$130 per barrel in the near term, with a risk of surging above $150 if supply flows through the Strait of Hormuz remain disrupted into mid-May, J.P. Morgan said in a note on Thursday. J.P. Morgan’s base-case assumption is that the disruption to the strait will … Read more
LONDON/NEW YORK, April 2 (Reuters) – European energy majors TotalEnergies (TTEF.PA) and Shell (SHEL.L) are among companies eyeing a majority stake in one of the U.S. Gulf’s most promising sites, three sources with knowledge of the process said, as interest in North American energy prospects rises due to the Middle East conflict. London-listed BP is … Read more
(Reuters) – U.S. President Donald Trump’s address to the nation on Wednesday, in which he vowed more aggressive strikes on Iran, has put consumers on course for record fuel prices at the pumps just ahead of the country’s peak summer travel season, market experts said. Americans expected Trump’s speech to outline a plan to end … Read more
By Laila Kearney NEW YORK, April 2 (Reuters) – Federal regulators approved an operating license extension for California’s last-standing nuclear power plant, allowing it to run for another 20 years if it also gets state legislative approval, the governor of the most populous U.S. state said on Thursday. PG&E’s (PCG.N) Diablo Canyon Nuclear Power Plant … Read more
(Reuters) – Bahrain’s Foreign Minister Abdullatif bin Rashid Al Zayani told the United Nations Security Council on Thursday he hopes for a council vote on Friday on a resolution Bahrain has drafted to protect commercial shipping in and around the Strait of Hormuz. Oil prices have surged since the U.S. and Israel struck Iran at … Read more
(Reuters) – Detentions of Panama-flagged vessels by China that followed a Panamanian court ruling raise serious concerns about efforts to undermine rule of law in the Latin American country, U.S. Secretary of State Marco Rubio said on Thursday. The U.S. Federal Maritime Commission said last week that it was closely monitoring a surge in detentions … Read more
(Reuters) – BP named Carol Howle as deputy chief executive on Thursday and said she would oversee the company’s ongoing portfolio review and strategy development. Howle, who served as interim chief executive before Meg O’Neill started the top job on Wednesday, will also return to her former role as head of supply, trading and shipping. … Read more
By Sing Yee Ong and Weilun Soon A liquefied natural gas tanker has entered the Strait of Hormuz, and if it successfully navigates the waterway would become the first such vessel to pass through the strait since the start of the war. The Sohar LNG tanker, which appears not to be loaded with cargo, is … Read more
Summary US will not be involved in talks Vital oil route effectively shut as Iran war rages Countries seek ways to reopen waterway after ceasefire (Reuters) – Britain will host talks on Thursday aimed at forming a coalition of countries to explore ways to reopen the Strait of Hormuz after U.S. President Donald Trump said securing the … Read more
(Reuters) – OPEC+ is likely to weigh a further oil output increase when eight members meet on Sunday, two OPEC+ sources said, a move that would position key producers to add more barrels should the Strait of Hormuz – the world’s most important oil route, currently shut by the U.S.-Israeli war with Iran – reopen. … Read more
U.S. President Donald Trump told the nation in a televised speech on Wednesday night that the U.S. military had nearly completed the goals it had set out to accomplish in its war with Iran and that the conflict would soon be ending. He added that the U.S. would continue to hit targets in the Islamic … Read more
Reuters Venezuela’s monthly oil exports surpassed 1 million barrels per day in March for the first time since September, with sales to refiners in India and shipments by trading houses to the Caribbean for storage pushing up volumes, according to ship-tracking data. The OPEC country’s oil sales have been rising since Caracas and Washington in … Read more
(Reuters) – Natural gas touches almost every corner of the U.S. economy, fuelling power plants, homes, factories and the booming LNG export sector. But the supply needed to meet all those uses is coming from an ever-narrower slice of America’s shale patch. This mismatch between a widening band of consumers and a shrinking supply base … Read more
(Reuters) – U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 5.5 million barrels to 461.6 million barrels in the week ended March 27, the EIA said, compared with analysts’ expectations in a Reuters poll for a 814,000-barrel rise. Crude stocks … Read more
(Reuters) – Oil tanker availability along the U.S. Gulf Coast has dropped sharply in recent weeks, as Asian and European refiners cut off from Middle Eastern supply have been snapping up vessels to import oil and fuel from the United States, shipping analysts and traders said. The Iran war has stalled tanker movements through the … Read more
Summary Brent, WTI set for biggest absolute, percentage jumps in 3 weeks Trump speech did not clarify when Hormuz might reopen (Reuters) – Oil prices climbed nearly 7% on Thursday after President Donald Trump said the U.S. would continue attacks on Iran, stoking fears of prolonged disruptions to oil supply. Brent crude futures were up $7.65, … Read more
President Donald Trump staunchly defended his handling of the month-old, U.S.-Israeli war on Iran in a prime-time address on Wednesday, saying the U.S. military was nearing completion of its mission while also reinforcing his threats to bomb the Islamic Republic back to the Stone Age. He delivered his 19-minute speech against a backdrop of high … Read more
(Reuters) – China will at one point have to engage more directly on how to restore oil traffic flows in the Strait of Hormuz because the number of vessels it has going through is probably insufficient, France’s navy chief said on Wednesday. “We have not seen China’s navy step in to reopen the strait. On … Read more
(Reuters) – The United States will be “out of Iran pretty quickly” and could return for “spot hits” if needed, President Donald Trump told Reuters on Wednesday, hours before he was scheduled to make a primetime address to the nation. Trump also said he would express his disgust with NATO for what he considers the … Read more
(Reuters) – Iran’s new leader has just asked the United States for a ceasefire, U.S. President Donald Trump said in a Truth Social post on Wednesday. “We will consider when Hormuz Strait is open, free, and clear. Until then, we are blasting Iran into oblivion,” he said. Reporting by Susan Heavey, writing by David Ljunggren, … Read more
President lashes out at allies for not supporting the war in Iran By Magan Crane and Jack Wittels United States President Donald Trump lashed out at allies for not supporting the U.S. war in Iran, arguing Washington will not fight for their interests as they struggle to get jet fuel with the Strait of Hormuz … Read more
Despite remarks that Trump wants to repatriate automakers, Hoekstra said Canada was not a top concern for U.S. officials By Thomas Seal The United States won’t allow Chinese electric cars from Canada to enter its market, President Donald Trump’s ambassador in Ottawa said, after a January deal in which Prime Minister Mark Carney lowered tariffs … Read more
Summary Barkin sees no major shift yet in consumer spending or inflation expectations Fed officials remain cautious, awaiting clarity on oil price impact before policy changes Retailers face consumer pushback on prices, while service firms retain more pricing power (Reuters) – Businesses continue to act as if high oil prices will prove only a short-term … Read more
Summary Shell seeks access to as much as 20 tcf of Venezuelan gas Chevron expected to relinquish stakes, which would be re-offered Russian-held stakes in two offshore fields remain a hurdle HOUSTON, April 1 (Reuters) – Shell is in advanced talks with Venezuela’s government to develop four large areas near Trinidad and Tobago, in two of … Read more
U.S. and Canadian stock markets rallied on Tuesday as financial markets seized on a couple of tenuous signals for hope about a possible end to the Iran war. The S&P/TSX composite index was up 833.10 points at 32,768.04. In New York, the Dow Jones industrial average was up 1,125.37 points at 46,341.51. The S&P 500 … Read more
(Reuters) – U.S. exports of liquefied natural gas rose to an all-time high in March as plants ran above nameplate capacity and new units started up, preliminary data from financial firm LSEG showed. Shipments to Asia more than doubled from the previous month amid the ongoing conflict in the Middle East that has roiled energy … Read more
(Reuters) – The State Department said on Tuesday it was monitoring threats to Americans in Saudi Arabia and warned all U.S. citizens in the country to shelter in place. “We are tracking reports of threats against locations where American citizens gather,” the U.S. Embassy in Saudi Arabia said in a travel advisory. “We advise U.S. … Read more
By Niccolo Conte | Design Sam Parker Key Takeaways The U.S. was the world’s largest crude oil producer in 2025 at 13.58 million barrels per day, ahead of Russia (9.87) and Saudi Arabia (9.51). Middle Eastern countries produced 32.1% of global crude oil in 2025. Just five countries produced half of the world’s oil in … Read more
March 31 (Reuters) – Nuclear power producer Constellation Energy (CEG.O) on Tuesday said it plans $3.9 billion in capital spending and raised its share buyback authorization to $5 billion, as it prepares to meet growing demand for clean electricity. U.S. power demand is expected to grow further after hitting a record high in 2025, driven … Read more
Summary US-Israeli campaign against Iran could end within two to three weeks, Trump says Uncertainty over how supply chains can be revived OPEC oil output falls in March, Reuters survey finds Saudi Arabia may raise OSPs to Asia, Reuters survey (Reuters) – Oil reversed earlier gains on Wednesday as uncertainty over the situation in the … Read more
Summary Iran threatens to target major US companies in retaliation for attacks Oil prices surge after tanker attack in Gulf (Reuters) – U.S. Defense Secretary Pete Hegseth said on Tuesday the next few days in the war against Iran would be decisive and warned Tehran that the conflict would intensify if it did not make … Read more
(Reuters) – U.S. crude oil output fell by the most in two years during January following a severe winter storm that knocked production offline in large swathes of the country, data from the Energy Information Administration showed on Tuesday. U.S. crude oil output fell 410,000 barrels per day month over month in January to 13.25 … Read more
(Reuters) – A cargo of WTI Midland crude headed to Greece for the first time in about four years, ship tracking data on Kpler showed, as U.S. and Israel’s war on Iran and reduced traffic through the Strait of Hormuz have upended trade flows and shut in output in the region. Isle of Man-flagged medium-sized … Read more
(Reuters) – QatarEnergy has yet to update its liquefied natural gas (LNG) customers on the impacts of recent attacks on its gas plants, Edison CEO Nicola Monti said on Tuesday. Monti said a pause in LNG supply until mid-June, which QatarEnergy notified the Italian utility of last week, was mainly due to the shipping blockade … Read more
(Reuters) – More vessels are flowing through the Strait of Hormuz, U.S. Defense Secretary Pete Hegseth told a briefing on Tuesday. “There are countries around the world who ought to be prepared to step up on this critical waterway as well,” he told reporters. Reporting by Phil Stewart, writing by Michelle Nichols, editing by David … Read more
By Nichola Groom Exemption granted based on national security grounds Impacted species include critically endangered Rice’s whale Environmental groups vow to challenge vote in court Oil and gas industry says environmental protections remain March 31 (Reuters) – A federal panel, convened for the first time in more than three decades, voted unanimously on Tuesday to … Read more
(Reuters) – European Union governments should prepare for a “prolonged disruption” to energy markets as a result of the Iran war, the bloc’s energy chief has told countries’ ministers ahead of an emergency meeting on Tuesday. In a letter to energy ministers, dated March 30 and seen by Reuters, EU Energy Commissioner Dan Jorgensen said … Read more
(Reuters) – President Donald Trump on Tuesday urged countries that did not help in the U.S.-Israeli strikes on Iran to buy American oil and go to the Strait of Hormuz and “just TAKE it.” Trump singled out Britain and France as unhelpful in the month-long war that has roiled global markets, driven up energy prices … Read more
The head of Polar LNG, a company that plans to build a liquefied natural gas plant on Alaska’s North Slope, said his company is hoping to buy discounted equipment from a Russian project on which Washington has imposed sanctions. Polar LNG launched on Monday. Joel Riddle, its president and CEO, in an interview said the … Read more
(Reuters) – Massive investments in artificial intelligence that underpinned record runs in equities face a major hurdle as the Middle East crisis clouds prospects for growth and energy costs, said Melissa Otto, head of research at S&P Global Visible Alpha. Before the Iran war broke out, tech giants Microsoft, Amazon, Alphabet and Meta planned to spend about $635 billion on data centres, … Read more
Summary Gasoline prices rise due to Iran conflict and Strait of Hormuz closure High fuel costs impact US households and Trump’s political standing Analysts expect crisis to be shorter than 2022 Ukraine conflict NEW YORK, March 30 (Reuters) – The U.S. national average retail price of gasoline crossed $4 a gallon for the first … Read more
By Julian Hast US natural gas futures ended lower on forecasts showing warmer weather than previously expected in the eastern US, as well as market expectations that domestic stockpiles will increase relative to seasonally normal levels in the coming weeks as demand lowers moving into spring. US gas storage levels, which were up by 14 … Read more
Reuters President Donald Trump said on Monday the United States was in talks with a “more reasonable regime” to end the war in Iran but repeated his warning to Tehran to open the Strait of Hormuz or risk U.S attacks on its oil wells and power plants. “Great progress has been made but, if for … Read more
Summary Trump tells aides he is willing to end Iran war without reopening Hormuz, report says Kuwait says oil tanker was hit in Iranian attack at Dubai port Brent heads for record monthly gain, WTI for most since 2020 (Reuters) – Brent oil futures headed for their largest monthly gain in volatile trading on Tuesday, … Read more
Summary Golden Pass LNG startup amid tight global gas supply QatarEnergy holds 70% stake, Exxon 30% in Golden Pass Golden Pass faced delays, cost overruns since 2019 construction start (Reuters) – Golden Pass LNG, a joint venture between QatarEnergy (QATPE.UL) and Exxon Mobil, has produced its first liquefied natural gas at its new facility … Read more
Venezuelan opposition leader and Nobel Laureate Maria Corina Machado addresses delegates at the 44th annual CERAWeek by S&P Global in Houston the week of March 23, 2026. Top oil executives, senior U.S. government officials and influential policymakers from around the world are gathering in Houston, Texas, for S&P Global’s annual CERAWeek conference. The gathering took … Read more
By Alex Longley, Julian Lee, Alaric Nightingale, Kevin Crowley, Yongchang Chin, Sherry Su, Charles Gorrivan, Devika Krishna Kumar, Priscila Azevedo Rocha, John Ainger, Jorge Valero, Grant Smith, Bill Lehane, Lucia Kassai, Ruth Liao, Mia Gindis, Jack Wittels, Emma Sanchez, Rong Wei Neo, Maddie Parker, Tom Orlik, Reade Pickert, Mitchell Ferman, Stephen Stapczynski, Prejula Prem, Graphics by Tom … Read more
By Siddharth Cavale Analysts flag concern over Saudi oil exports from Red Sea G7 nations are ready to take steps for energy stability NEW YORK, March 30 (Reuters) – Oil prices closed higher on Monday, with Brent heading for a record monthly rise, while U.S. crude futures settled above $100 a barrel for the first … Read more
Japan called on the Group of Seven wealthy nations and the International Energy Agency to be ready to take further flexible measures to stabilise energy markets if the Iran war drags on, its industry minister said on Monday. Those actions could include additional coordinated oil stockpile releases at an appropriate time, Ryosei Akazawa told reporters … Read more
Shell says windfall taxes risk deterring future gas investment Australia’s LNG export revenues set to surge on supply shock SYDNEY, March 31 (Reuters) – Shell (SHEL.L) has warned Australia against introducing a windfall tax on gas exporters, saying such a move would deter investment and undermine energy security as LNG prices surge following disruption to … Read more
BRUSSELS, March 30 (Reuters) – Energy prices around the world have soared after Iran closed the Strait of Hormuz in response to U.S.-Israeli attacks, leaving many Group of Seven and EU governments seeking ways to lessen the impact on their economies. Finance and energy ministers of the G7 – the United States, Canada, Japan, Britain, … Read more
By Kate Abnett Video conference planned for 1300 GMT Tuesday Focus on gas storage, stabilising oil product markets Alarm over tightening supplies of diesel and jet fuel BRUSSELS, March 30 (Reuters) – European Union energy ministers will hold talks on Tuesday to coordinate their response to the disruption to oil and gas markets triggered by … Read more
Reuters Some of U.S. President Donald Trump’s major policy decisions have been preceded by well-timed bets, leading some experts to raise questions about whether information had somehow leaked ahead of time. Here is a list. March 23, 2026 – IRAN ATTACK PAUSE: An unidentified trader or traders bet $500 million on Brent and WTI crude … Read more
(Reuters) – The U.S. technology industry is being pushed to shrink its power use in times of high demand, amid growing public concern that Big Tech’s massive electricity needs for its expansion of data centers are maxing out the country’s grid. The power industry and its regulators are increasingly urging tech companies to make what … Read more
Most conversations about pneumatic emissions abatement start in the right place—a site, a device count, a vent rate, a regulatory deadline. An operator identifies a handful of facilities that need to move to zero-emissions pneumatics, evaluates the available solutions, and makes a decision. At that scale, almost any approach can technically work. The real question … Read more
(Reuters) – President Donald Trump has been weighing whether to use ground forces to seize Iran’s strategic oil hub of Kharg Island, an operation analysts say could be achieved quickly, but leave U.S. troops in great peril and prolong rather than shorten the war. WHERE IS KHARG ISLAND AND WHY IS IT IMPORTANT? Kharg Island … Read more
Summary Iran conflict escalates as Houthis attack on Israel Analysts flag concern over Saudi oil exports from Red Sea Iran accuses US of ground assault plans Pakistan prepares to host peace talks (Reuters) – Oil prices extended gains on Monday, with Brent heading for a record monthly rise, after Yemeni Houthis widened the Iran war by launching … Read more
Oil companies will have to look further afield for new fossil fuel resources now that the Iran war has dented the investment allure of the energy-rich Middle East. Higher oil prices will give them that chance. Major international oil companies, including Exxon Mobil, Chevron, TotalEnergies, Shell and BP, have long been drawn to the Middle East by its vast resources, … Read more
A month after U.S. and Israeli strikes on Iran, global markets for the supply of crude oil, refined products and liquefied natural gas are already in the second-worst possible scenario. Everything hinges on the Strait of Hormuz. This chokepoint, which normally carries around 20% of global crude, products and LNG, is still effectively closed to … Read more
Reuters The Pentagon is preparing for weeks of ground operations in Iran, the Washington Post reported Saturday, citing U.S. officials. The plans could involve raids by Special Operations and conventional infantry troops, the Post reported. Whether President Donald Trump would approve any of those plans remains uncertain, according to the Post. The Trump administration has … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row for the first time since mid-January, energy services firm Baker Hughes said on Friday. The oil and gas rig count, an early indicator of future output, fell by nine to 543 … Read more
Tehran suggests system of charging fees and limiting passage to ‘non-hostile’ ships could endure beyond the war By Alice Hancock in Brussels and Najmeh Bozorgmehr in Tehran Original: financialpost.com/financial-times/iran-cash-strait-of-hormuz Iran is working to establish a system of approved passage for ships through the Strait of Hormuz, a tightening of control over the crucial waterway that … Read more
By Lisa Baertlein US diesel prices rise due to Iran’s control of Strait of Hormuz Independent truckers slammed by flat demand, high diesel costs Big trucking firms manage fuel costs using surcharges, bulk buying LOS ANGELES, March 27 (Reuters) – The U.S.-Israeli war on Iran has sent U.S. diesel prices up 50%, delaying a long-awaited … Read more
(Reuters) – Global energy companies are getting back to basics and focusing on the hunt for new sources of oil and gas, executives declared at the CERAWeek conference in Houston this week, ending years of underinvestment in exploration. In recent years, the shale revolution in the U.S. promised abundant, flexible supply, while growth in renewable … Read more
(Reuters) – Global oilfield services companies are bracing for a hit to earnings as the Iran war disrupts energy infrastructure across the Middle East and producers hold back on new drilling until higher oil prices prove durable. Surging commodity prices – the Brent benchmark is up 53% since February 27, the day before the U.S. … Read more
By Shariq Khan Investors remain wary of prolonged conflict US extends Strait of Hormuz deadline Prices could hit $200 if war drags on, Macquarie analysts say NEW YORK, March 27 (Reuters) – Oil prices rose on Friday and notched weekly gains, reflecting scepticism about prospects for a ceasefire in the month-old Iran war. Brent … Read more
By George Hay LONDON, March 27 (Reuters Breakingviews) – Gulf conflict has pushed European and Asian liquefied natural gas prices higher, but not American ones. Those with lots of US supply, like Shell and TotalEnergies, can make tidy trading margins. And $41 bln Venture Global, with a boatload of un-contracted LNG, has struck gold. Full … Read more
(Reuters) – Russian Foreign Minister Sergei Lavrov said the U.S. has been seeking control over the Nord Stream gas pipelines in the Baltic Sea, which were damaged by mysterious blast in September 2022. Explosions that destroyed the pipelines more than three years ago largely severed Russian gas transit to Europe, squeezing energy supplies on the … Read more
(Reuters) – There are reasons to believe that there could be an escalation in the conflict in the Middle East in the coming days, Polish Prime Minister Donald Tusk said on Friday. “I have reasons to believe, also based on information we’ve received from our allies, that stabilisation is unlikely in the coming days. On … Read more
By Jennifer A. Dlouhy and Skylar Woodhouse Treasury Secretary Scott Bessent said a US insurance program meant to boost shipping through the Strait of Hormuz will begin soon, a move that may help revive flows of much of the world’s oil and gas supplies. Bessent’s predictions, delivered Thursday during a meeting of President Donald Trump’s … Read more
By Riley Griffin and Josh Saul Meta Platforms Inc. is paying for the construction of seven new natural gas-fired plants to fuel its most power-hungry data center, increasing its reliance on fossil fuels amid a fast-moving artificial intelligence race. The company reached a new agreement with Entergy Corp. to build and pay for enough gas … Read more
By Keira Wright, Paul-Alain Hunt, and Ruth Liao Three Australian plants that provide about 8% of the world’s liquefied natural gas have had their output curbed by a cyclone, in a further blow to mainly Asian buyers reeling from the halt of shipments from Qatar. Karratha, the onshore processing facility that feeds Woodside Energy Group … Read more
Brent was last near US$110 a barrel on Friday, after touching a crisis-high of US$119.50 earlier this month By Rong Wei Neo Oil may hit a record US$200 a barrel if the Iran war drags on till June, with the Strait of Hormuz staying shut, Macquarie Group Ltd. said. A conflict that stretches through the … Read more
By Jan Strupczewski EU finance ministers aim to prevent market fragmentation with any energy price support EU Commission warns any response must be targeted, temporary and fiscally limited EU proposes support for vulnerable households to avoid inefficiencies BRUSSELS, March 27 (Reuters) – European Union finance ministers will seek to coordinate on Friday their response to … Read more
March 27 (Reuters) – Cuban officials have petitioned the Vatican to help persuade the administration of U.S. President Donald Trump to ease its oil embargo in senior-level meetings with Vatican officials including Pope Leo, the Washington Post reported on Friday, citing people familiar with the matter. Reuters could not immediately verify the report. The Vatican … Read more
By Florence Tan and Yuka Obayashi SINGAPORE, March 27 (Reuters) – Asian refiners are beginning to switch to pricing U.S. crude oil purchases against global benchmark ICE Brent instead of Dubai after the Middle East marker spiked to record levels this month, three refining and trade sources said on Friday. The move could reduce liquidity … Read more
(Reuters) – The United States has sent Iran a “15-point action list” as a basis for negotiations to end the current conflict, U.S. Special Envoy Steve Witkoff said on Thursday, adding that there are signs that Tehran was interested in making a deal. Witkoff, speaking during a cabinet meeting at the White House, said that … Read more
By Sheila Dang, Stephanie Kelly and Amanda Stephenson Oil prices surge due to Iran conflict, boosting profits Analysts revise Chevron, Shell earnings estimates upwards Middle East disruptions may hurt oilfield-service companies HOUSTON, March 26 (Reuters) – As Big Oil executives gathered this week and discussed the biggest-ever disruption to global energy supplies due to the … Read more
(Reuters) – Vicki Hollub is preparing to retire as chief executive of Occidental Petroleum, after her decade-long stewardship of the U.S. oil and gas company that made her one of the most powerful women in a male-dominated industry, sources familiar with the matter told Reuters. Hollub, 66, plans to make a formal announcement later this … Read more
Summary US extends Strait of Hormuz deadline to April 6 Investors remain wary of prolonged conflict Prices could hit $200 if war drags on, Macquarie analysts say (Reuters) – Oil prices rose on Friday but were set for their first weekly decline since February 9 as U.S. President Donald Trump extended a pause in attacks … Read more
(Reuters) – U.S. President Donald Trumpsaid on Thursday that Iran was letting10 oil tankers transit the Strait of Hormuz as an apparent goodwill gesture in negotiations. Trump made the comments at a Cabinet meeting in the White House, elaborating on what he had previously described as a “present” from Iran. “They said, to show you … Read more
By Liam Denning In demand. Photographer: Callaghan O’Hare/Bloomberg The conflict in Iran represents both an expression of US “energy dominance” and a profound test of it. Resurgent domestic oil and gas production promised insulation against the fallout from a new war in the Middle East. The same war is casting doubt on that promise. The … Read more
By Amanda Cooper and Robert Harvey Options market shows bets on $150 oil by end-April rising Open interest in $150 calls nearly 10 times larger than last month Oil is trapped in Gulf following U.S.-Israel conflict with Iran Brent crude set all-time high of $147 in 2008 LONDON, March 26 (Reuters) – Traders are piling … Read more
By Forrest Crellin and Shadia Nasralla PARIS, March 26 (Reuters) – TotalEnergies’ (TTEF.PA) CEO Patrick Pouyanne said on Thursday that the company made a decision not to declare force majeure to any of its liquefied natural gas customers, and that it would respect all the LNG contracts in terms of price and volume. Qatar, the … Read more
By Bhargav Acharya and Kanishka Singh WASHINGTON, March 26 (Reuters) – U.S. President Donald Trump said on Thursday he was pausing attacks on Iran’s energy plants for 10 days at what he cast as the Iranian government’s request, and said talks with Tehran were going “very well.” “As per Iranian Government request… I am pausing … Read more
By Siddharth Cavale Iran says it is reviewing US proposal, has no interest in talks Ukrainian attacks, tanker seizures halt 40% of Russia oil export capacity Houthi movement says it stands ready to strike Red Sea waterway NEW YORK, March 26 (Reuters) – Crude futures closed higher on Thursday, rebounding from the previous session’s losses, … Read more
(Reuters) – White House press secretary Karoline Leavitt on Wednesday said the United States is tracking “very closely” how to get oil tankers through the Strait of Hormuz. “As far as tankers through the Strait, it’s something we’re tracking very closely,” Leavitt told reporters about the key shipping lane near Iran. However, the press secretary … Read more
(Reuters) – With visibility on the U.S. economic outlook greatly reduced by the fog of war and $100-a-barrel oil, it might seem an odd time to be getting more bullish on stocks. But from a valuation, earnings, and growth perspective, there’s a compelling case. Strategists at Barclays outlined it this week as they raised their … Read more
(Reuters) – President Donald Trump on Thursday urged Iran to make a deal to end U.S. and Israeli bombing or face more strikes on their country. “They now have the chance, that is Iran, to permanently abandon their nuclear ambitions and to join a new path forward,” Trump said during a Cabinet meeting at the … Read more
(Reuters) – Iran’s initial response to the U.S. proposal to end the war, which was conveyed to Pakistan, was that it was “one-sided and unfair”, a senior Iranian official told Reuters on Thursday, adding that a path forward might still be found if realism prevailed in Washington. The official said the proposal “was reviewed in … Read more
By Mohammed Ghobari and Emma Farge Houthis have track record of disrupting international shipping Iran-aligned group ready should need arise to join war, leader says Bab al-Mandab is a key choke point (Reuters) – Yemen’s Iran-aligned Houthi movement, whose attacks on the Red Sea caused international shipping and trade chaos during the Gaza war, stands … Read more
(Reuters) – The European Union may be forced to scale back its flagship climate policies and geopolitical aims as the Iran war drives up energy prices – with lasting consequences for the bloc’s energy strategy. The energy crunch sparked by the conflict, now in its fourth week, has rattled Europe, which is heavily dependent on … Read more
(Reuters) – Barclays said on Thursday that a prolonged closure of the Strait of Hormuz would likely lead to a 13-14 million barrels per day supply loss, noting that while the scale of the disruption is immense, so is the uncertainty around its duration. Exports from Yanbu and Fujairah have picked up in recent weeks … Read more
By Mike Dolan (Reuters) – The Iran oil shock has upended rate forecasts and roiled U.S. Treasury markets – driving volatility to its highest in nearly a year and forcing selling that is taking a serious toll on liquidity. The risk is that the tremors spread further. One of the key attractions of the U.S. … Read more
(Reuters) – Abu Dhabi state oil company ADNOC’s CEO Sultan Al Jaber described any restriction of passage through the Strait of Hormuz by Iran as “economic terrorism”. “When Iran holds Hormuz hostage, every nation pays the ransom, at the gas pump, at the grocery store, at the pharmacy,” Al Jaber said in a speech in … Read more
(Reuters) – Private energy companies and their backers are emerging as leaders in the next phase of global shale development, taking early positions in overseas basins while publicly listed U.S. producers focus on capital discipline and their core domestic acreage. The pattern echoes the early years of the U.S. shale revolution, when independent wildcatters took … Read more
(Reuters) – BlackRock CEO Larry Fink said oil prices could reach $150 a barrel and cause a “global recession” if Iran “remains a threat” even after the war ends. “If there is a cessation of war, and yet Iran remains a threat, a threat to trade, a threat to the Strait of Hormuz, a threat … Read more
Oil prices above $100 a barrel would not trigger a meaningful production increase in the U.S. unless they stay elevated for more than a quarter, shale executives said at the CERAWeek energy conference in Houston, troubling news for consumers slammed by the energy crisis during the U.S.-Israeli war on Iran. Shale producers helped make the … Read more
(Reuters) – U.S. officials this week said the historic spike in fuel prices during the war in Iran will be short-term and trumpeted record U.S. production at an industry conference where oil executives and government officials from Asia, the Middle East and Europe bemoaned the worst oil and gas supply disruption in decades. The contrasting … Read more
Summary Iran reviews US proposal, but has no interest in holding talks Ukrainian attacks, tanker seizures halt 40% of Russia oil export capacity Turkey says drone struck oil tanker in the Black Sea (Reuters) – Oil rose by over 4% on Thursday, rebounding from the previous session’s losses, as prospects for a prolonged conflict in … Read more
(Reuters) – Supply disruptions linked to the U.S.-Israeli war on Iran could delay construction of liquefied natural gas projects slated for development in the U.S., Freeport LNG CEO Michael Smith said on Wednesday at the CERAWeek energy conference in Houston. The U.S. is the world’s largest LNG exporter and has more new capacity under construction … Read more
(Reuters) – Iran’s parliament speaker, Mohammad Baqer Qalibaf, said on Wednesday that intelligence suggests “enemies” are planning to occupy an Iranian island with support from a regional country which he did not name. “Iranian forces are monitoring enemy movements and if they take any step, we will attack vital infrastructure in that regional country in … Read more
(Reuters) – Venezuela’s oil production, including condensate and gas liquids, has reached 1.1 mln barrels per day in March, a government presentation citing figures from state oil company PDVSA showed on Wednesday. The figure was an increase from January, when production was 942,000 bpd, the presentation, shared by acting President Delcy Rodriguez during a virtual … Read more
By Dylan Griffiths Fire and plumes of smoke rise from an oil facility in Fujairah, United Arab Emirates on March 14. Photographer: Altaf Qadri/AP Photo Dozens of refineries, oil fields, gas plants, ports and other energy infrastructure have been damaged by missile and drone strikes, with the Iran war now well into its fourth week. … Read more
(Reuters) – When the missiles and drones eventually stop flying in the U.S.-Israeli air strikes against Iran, a new contest is likely to get underway: the scramble for contracts to rebuild damaged oil and gas infrastructure and restore shipping lanes – and influence – across the Middle East. The destruction is not confined to Iran. … Read more
(Reuters) – The Western allies trying to negotiate a way to protect the Strait of Hormuz for energy shipping face a stark reality: a similar effort in the Red Sea that started years earlier cost billions of dollars and ultimately failed against Yemen’s Houthis. The costly Red Sea experience – four ships sunk, more than … Read more
Reuters Whatever the outcome of the Iran war, one question is already inescapable for the Gulf’s energy-rich economies: is the U.S. security umbrella still worth the price? Since the U.S. and Israel launched strikes on Iran on February 28, it’s been its Gulf neighbours who have suffered most from missiles and drones that followed – … Read more
Venezuela opposition leader Maria Corina Machado told Reuters on Tuesday that early interest in Venezuela’s oil sector is positive but she called for more transparency and contract security, including a new oil law, to further increase crude and gas output in the South American country. In January, Venezuela’s National Assembly approved a sweeping reform of … Read more
The global energy crisis is deepening as emergency measures by governments worldwide have fallen short of plugging the huge shortfall in oil and gas supply caused by the U.S.-Israeli war on Iran, executives and oil ministers said on Tuesday. Costs for energy, fertilizers and petrochemicals are soaring as the world is losing as much as … Read more
(Reuters) – Venezuela needs to “completely rewire” its fiscal system to attract new investment, ConocoPhillips CEO Ryan Lance said on Tuesday at the CERAWeek conference in Houston, underscoring the challenges facing the country’s oil industry in the wake of President Nicolas Maduro’s capture in January. Lance called a reformed hydrocarbon law in the OPEC-member country … Read more
(Reuters) – The U.S. may not be scaling electricity fast enough for the expansion of artificial intelligence, Google’s President and Chief Investment Officer Ruth Porat said on Monday, speaking about the vast amounts of power needed to scale the company’s AI data centers. “We are concerned that we are not full throttle on energy,” she … Read more
By Rajesh Kumar Singh United plans to receive over 250 aircraft by April 2028 United focuses on premium seating with new Airbus models Premium travelers seen as resilient to fare increases CHICAGO, March 24 (Reuters) – United Airlines (UAL.O) on Tuesday unveiled a broad aircraft and cabin overhaul centered on higher-end seating, pressing ahead with … Read more
(Reuters) – Gaining the approval of local communities has become paramount to building data centers in the U.S., Microsoft President Brad Smith said on Tuesday, as towns across the country increasingly protest the developments. The rapid proliferation of Big Tech data centers is driving up the country’s electricity demand and power bills, and drawing scrutiny … Read more
(Reuters) – The Trump administration is working with Canada on permits required for a proposed revival of part of the Keystone XL oil pipeline, a White House official said on Tuesday. The pipeline, proposed by Canadian pipeline company South Bow and its U.S. partner Bridger Pipeline, could increase Canada’s crude exports to the U.S. by … Read more
Summary Trump cites progress with Iran, US proposes plan to end war Iran tells UN ‘non-hostile’ ships can transit Strait of Hormuz Saudi hikes Yanbu exports to work around Hormuz halt, data shows Russia halts Baltic oil exports after Ukrainian drone attacks (Reuters) – Oil prices sank about 5% on Wednesday after reports the United … Read more
(Reuters) – Valero Energy Corp is preparing to restart its 380,000 barrel-per-day (bpd) Port Arthur, Texas, oil refinery this week after shutting the plant on Tuesday following an explosion and fire the previous day, two people familiar with operations said. Workers were blocking the pipelines that feed the damaged 47,000-bpd unit 243 diesel hydrotreater early … Read more
(Reuters) – Iran has told International Maritime Organization member states that “non-hostile vessels” may transit the Strait of Hormuz if they coordinate with Iranian authorities, the Financial Times reported on Tuesday, citing a letter. The U.S.-Israeli war against Iran has all but halted shipments of about one-fifth of the world’s oil and liquefied natural gas … Read more
(Reuters) – Emergency measures to alleviate the disruption to energy supply caused by the U.S.-Israeli war on Iran are “not even a drop in the proverbial barrel” compared to normal oil and gas export flows from the Middle East Gulf, the CEO of Kuwait Petroleum Corporation said on Tuesday. Kuwait and Gulf neighbors Saudi Arabia, … Read more
(Reuters) – Energy security is key to securing national security, Shell CEO Wael Sawan said on Tuesday, warning that the supply disruptions from the U.S.-Israel war with Iran that have hit Asia could creep into Europe by next month. “We are trying to work with governments to just alert them to the various levers they … Read more
(Reuters) – The cost of building gas plants has topped $3,000 per kilowatt, more than tripling over the last decade, Carlyle’s energy investment officer said on Tuesday. “There’s a real increase that’s happened, and that’s flowing into the power prices in the market today,” Matt O’Connor, chief investment officer of international energy at Carlyle, said … Read more
(Reuters) – Kuwait could ramp up oil production relatively quickly if the U.S.-Israel war with Iran were to end today, hitting full production capacity in 3-4 months, Shaikh Nawaf Al-Sabah, CEO of Kuwait Petroleum Corporation, said on Tuesday in a video address to the CERAWeek energy conference. He said supplies from alternative pipelines to the … Read more
(Reuters) – Traders bet half a billion dollars on the price of crude only 15 minutes before U.S. President Donald Trump announced a five-day delay to attacks on Iran’s energy infrastructure that sent the market plunging, exchange data and Reuters calculations showed. Having issued Iran with a Monday deadline to reopen the critical Strait of … Read more
(Reuters) – China is conducting a vast undersea mapping and monitoring operation across the Pacific, Indian and Arctic oceans, building detailed knowledge of marine conditions that naval experts say would be crucial for waging submarine warfare against the United States and its allies. In one example, the Dong Fang Hong 3, a research vessel operated … Read more
March 24 (Reuters) – The United States will continue its strikes on Iran, with the pause applying only to attacks on Tehran’s energy sites, Semafor reported on Monday, citing a U.S. official, during what President Donald Trump has described as “productive” talks with unidentified Iranian officials. Earlier on Monday, Trump had postponed for five days … Read more
By Katya Golubkova, Yuka Obayashi and Tamiyuki Kihara Japan began tapping private oil stockpiles on March 16 Japan to open public stockpiles on March 26, PM Takaichi says To use five days worth of oil supply from joint oil stockpiles Three tankers, not related to the Strait of Hormuz, heading towards Japan Industry calls for … Read more
Historic Strait of Hormuz disruption and limited supply response expected to drive Brent prices to average $95/bbl for the remainder of 2026, $100/bbl for 2027 CALGARY, Alberta (Mar. 24, 2026) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the leading energy-dedicated artificial intelligence and data analytics company, is releasing an updated global oil outlook that … Read more
Valero shuts Texas refinery after explosion rocks diesel unit, sources say Reuters Valero Energy Corp has shut its 380,000-barrel-per-day (bpd) oil refinery in Port Arthur, Texas, following an explosion and fire at a diesel hydrotreater unit, people familiar with the plant operations said on Monday. The explosion at the 47,000-bpd 243-diesel hydrotreater unit rocked the … Read more
At first glance, the Iran war appears to be hitting oil and gas with equal force, as missiles, drone strikes and shipping disruptions choke flows through the Strait of Hormuz. But beneath that surface symmetry lies a critical imbalance. The global gas supply chain has fewer rerouting options and less storage capacity than the … Read more
Shell is concerned that the Iran war could impact long-term confidence in the affordability and security of natural gas supplies, said the company’s president of integrated gas, Cedric Cremers. “These geopolitical shocks…send the wrong signals to customers around the long-term fundamentals of gas,” Cremers said at the CERAWeek conference in Houston. The conflict has removed … Read more
(Reuters) – India’s Reliance Industries, operator of the world’s biggest refining complex, has purchased 5 million barrels of Iranian crude, days after the U.S. temporarily removed sanctions on the oil, three sources familiar with the matter said on Tuesday. The Indian refiner bought the oil from the National Iranian Oil Co., two of the sources … Read more
By Curtis Williams Jack Fusco, President and CEO of Cheniere Energy during the CERAWeek energy conference in Houston, Texas, U.S., March 7, 2023. HOUSTON, March 23 (Reuters) – The situation in the Middle East shows the need for diversity in energy supplies, Jack Fusco, CEO of Cheniere Energy (LNG.N), the nation’s largest U.S. liquefied natural … Read more
Summary Trump says US, Iran have ‘major points of agreement’ Iran rejects claim of contact with Washington Macquarie says Brent could hit $150 if Hormuz shut through April (Reuters) – Oil rose on Tuesday as the world’s biggest supply disruption persisted and as Iran denied it had talks with the U.S. to end the war in the … Read more
WASHINGTON, March 23 (Reuters) – The United States is “highly unlikely” to release more oil from its Strategic Petroleum Reserve to calm energy markets during the war with Iran, U.S. Energy Secretary Chris Wright told CNBC on Monday. The U.S. was looking at a variety of other levers to try to bring down prices, he … Read more
(Reuters) – Some of the world’s top oil executives and energy ministers in Houston on Monday expressed growing concern over the long-term effects of the U.S.-Israel war with Iran on the global economy, while the U.S. Energy Secretary Chris Wright downplayed the crisis. The war has caused one of the biggest disruptions to energy supplies … Read more
(Reuters) – A disruption to global energy supplies from the U.S.-Israeli war on Iran lasting beyond three to four months would pose a systemic risk to the global economy, TotalEnergies CEO Patrick Pouyanne said on Monday. The disruption to global fuel supplies is worse than the disruption to crude oil supplies because it has been … Read more
By Amanda Stephenson Middle Eastern, Asian investors show interest in Canadian pipeline Alberta to submit pipeline proposal for federal fast-tracking in June Regulatory hurdles and carbon pricing policy impact pipeline feasibility HOUSTON, March 23 (Reuters) – Middle Eastern and Asian investors have expressed early-stage interest in a potential new crude oil pipeline in Canada and … Read more
(Reuters) – Two tankers bound for India sailed through the Strait of Hormuz on Monday carrying liquefied petroleum gas (LPG) loaded in the United Arab Emirates and Kuwait, although overall traffic through the critical waterway remained blocked. Hundreds of vessels and some 20,000 seafarers have remained stranded inside the Gulf since Tehran threatened to attack … Read more
(Reuters) – Chevron CEO Mike Wirth said he is uncertain how quickly shut-in production in the Middle East stemming from the ongoing U.S.-Israel war with Iran will return. “It will take time to come out of this,” Wirth said on Monday at the CERAWeek conference in Houston. Tightness in the energy market due to the … Read more
(Reuters) – No one likes expensive oil, especially in the U.S., where driving, spending, and energy-intensive economic activity are on such a vast scale. But despite fears to the contrary, the average U.S. consumer has never been better equipped to deal with $100-a-barrel oil. U.S. households are the richest they’ve ever been in nominal terms. … Read more
(Reuters) – Global oil prices have not climbed enough to cause demand destruction, U.S. Energy Secretary Chris Wright said on Monday at the CERAWeek energy conference in Houston, Texas, even as markets continued to gyrate and global oil prices remained over $100 a barrel due to the U.S.-Israel war on Iran. Wright’s remarks come amid … Read more
(Reuters) – President Donald Trump on Monday told reporters the United States has held talks with Iran and that the two sides had “major points of agreement.” Trump said the conversations that took place on Sunday would to continue on Monday and that if the negotiations continued productively, there would be a deal very soon. … Read more
(Reuters) – U.S. President Donald Trump went into the Iran war convinced that America’s vast oil wealth would insulate the country from the kind of energy shock now battering much of the world. Four weeks into the conflict, that shield is looking fragile. Trump’s wager has only partly paid off. U.S. oil prices have risen … Read more
(Reuters) – The gas subsidiary of ADNOC, Abu Dhabi’s state oil firm, on Monday said it made temporary adjustments to its production of liquefied natural gas and export-traded liquids in response to ongoing shipping disruption in the Strait of Hormuz. The U.S.-Israeli war on Iran escalated sharply over the weekend after President Donald Trump threatened … Read more
(Reuters) – Iran’s Tasnim news agency, citing an Iranian official, said that the strait of Hormuz will not return to pre-war conditions and energy markets will remain unsettled, adding that no negotiations with the U.S. are under way. Tasnim said U.S. President Donald Trump backed down from attacking critical Iranian infrastructure amid financial market pressure, … Read more
Reuters) – Abu Dhabi state oil giant ADNOC’s Group CEO Sultan Al Jaber will not travel to Houston for the CERAWeek energy conference and will participate virtually before travelling to Washington D.C. for meetings, an ADNOC spokesperson told Reuters, as the Iran war upends energy markets. The gathering, which draws some of the oil … Read more
IEA discussing further oil stock releases, chief Birol says Summary IEA prepared to release more oil ‘if necessary’ Asia Pacific is at the forefront of the oil crisis Work from home and lower speed limits could conserve fuel Australia’s 30 days of diesel stock is ‘solid’, Birol says (Reuters) – The International Energy Agency is … Read more
Summary Trump post says ‘good’ talks with Iran discuss ‘Complete and total resolution of hostilities’ Israel launches new wave of attacks on Tehran Iran vows to strike Gulf infrastructure if US attacks power grid Tehran says strait open to all but ‘enemies’ (Reuters) – U.S. President Donald Trump said on Monday he had given orders … Read more
Goldman Sachs late on Sunday raised its 2026 average price forecast for Brent crude oil to $85 per barrel (bbl) from $77, while raising its West Texas Intermediate (WTI) forecast to $79/bbl from $72. The bank expects extended disruptions to crude shipments through the Strait of Hormuz and increased strategic stockpiling to drive the market … Read more
Saudi Aramco Chief Executive Amin Nasser has cancelled his planned appearance at the CERAWeek energy conference in Houston to remain in Saudi Arabia because of the Iran conflict, an industry source told Reuters. Nasser, who has been CEO of the world’s top oil exporter for more than a decade, is usually one of the headline … Read more
Summary Trump post says ‘good’ talks with Iran discuss ‘Complete and total resolution of hostilities’ Israel launches new wave of attacks on Tehran Iran vows to strike Gulf infrastructure if US attacks power grid Tehran says strait open to all but ‘enemies’ (Reuters) – U.S. President Donald Trump said on Monday he had given orders … Read more
Summary Trump gave Iran 48 hours to reopen Strait of Hormuz on Saturday (Reuters) – Oil prices plunged by more than 13% on Monday after U.S. President Donald Trump said he would postpone any military strikes against Iranian power plants for five days, hours ahead of a deadline that threatened further escalation in the conflict … Read more
(Reuters) – The world’s top energy executives return to Houston this week as the escalating U.S.-Israeli war on Iran has become a nightmare for energy markets, as unprecedented attacks on infrastructure and shipping disruptions sent global oil prices soaring while governments scrambled to fight inflation and avoid recessions. Global oil prices jumped this week, hitting … Read more
The crude oil futures markets are still largely pricing for an early resolution to the conflict in the Middle East that results in the full re-opening of the Strait of Hormuz. But in pricing for this outcome the market is actually making it more likely the narrow waterway that serves as a conduit for as … Read more
Critical infrastructure and energy facilities in the Middle East could be “irreversibly destroyed” should Iranian power plants be targeted, Iran’s Parliament Speaker Mohammad Baqer Qalibaf said in comments posted on X on Sunday. His comments come after U.S. President Donald Trump warned that Iranian power plants would be targeted if the Strait of Hormuz is … Read more
Iran will completely shut the strategic Strait of Hormuz if U.S. President Trump executes threats to target Iranian energy facilities, the country’s Revolutionary Guards said in a statement on Sunday. Trump on Saturday threatened to “obliterate” Iran’s power plants if Tehran did not fully reopen the Strait of Hormuz within 48-hours, suggesting a significant escalation … Read more
Cuba’s national electric grid collapsed on Saturday for the second time in a week amid the U.S.-imposed oil blockade, officials announced, as the communist government struggles to keep the lights on for its 10 million people with decrepit infrastructure. “At 18:32 (2232 GMT), a total disconnection of the National Electric Power System occurred. We will … Read more
Oil prices look set to rise further on Monday, having closed before the weekend at their highest in nearly four years, after U.S. and Iranian threats to target energy facilities, analysts said on Sunday. U.S. President Donald Trump on Saturday threatened to “obliterate” Iran’s power plants if Tehran did not fully reopen the Strait of … Read more
The EU has urged member states to lower natural-gas storage targets and start refilling reserves gradually to curb demand, as energy prices spike during the U.S.-Israeli war on Iran, the Financial Times reported on Saturday.Energy Commissioner Dan Jorgensen instructed member states to lower the filling target for their gas storage facilities to 80% of capacity, … Read more
The Trump administration waived sanctions on the purchase of Iranian oil at sea for 30 days on Friday in its latest attempt to ease oil prices that have been driven up by the U.S.-Israeli war on Iran. The waiver will bring some 140 million barrels of oil to global markets and help relieve pressure … Read more
The U.S. Energy Department said it had awarded contracts to loan 45.2 million barrels of crude oil from the Strategic Petroleum Reserve as of Friday. Companies that have been awarded the SPR contracts include BP Products North America, Gunvor USA, Marathon Petroleum and Shell Trading, the Energy Department said in a statement. The Trump administration is loaning … Read more
The Panama Canal is operating at top capacity with a daily passage of between 36 and 38 vessels, the waterway’s chief Ricaurte Vasquez told reporters on Friday, adding that the Iran war is boosting demand by owners and operators of liquefied natural gas tankers, particularly those loading at U.S. ports.The world’s second busiest waterway, which … Read more
By Maha El Dahan, Andrew Mills and Yousef Saba QatarEnergy boss says he warned US energy secretary and executives Says earlier evacuation meant pulling out 10,000 workers in 24 hours Says North Field expansion could be delayed by more than a year Says difficult to describe how he feels after Iran attack DUBAI, March 20 … Read more
(Reuters) – Iraq has declared force majeure on all oilfields developed by foreign oil companies, as military operations in the region have disrupted navigation through the Strait of Hormuz, preventing most of the country’s crude exports from moving, oil ministry sources said. Reporting by Aref Mohammed and Ahmed Rasheed, Editing by Louise Heavens
(Reuters) – Liquefied natural gas (LNG) supplies from Qatar to India could be impacted following Iranian strikes on energy facilities in the Middle Eastern nation, a government official said on Friday. India, the world’s fourth-largest LNG importer, relies on Qatar for about 41% of its gas imports. In 2024/25, India imported over 27 million metric … Read more
By Georgina Mccartney US deploys more troops to Middle East, Trump comments on Iran Iraq declares force majeure on some oilfields Strait of Hormuz disruptions keep oil prices high, analysts say HOUSTON, March 20 (Reuters) – Oil prices jumped on Friday and settled at their highest in nearly four years, as Iraq declared force majeure … Read more
By Marianna Parraga Vessel Sea Horse had loaded a Russia-origin cargo earlier this year US Treasury said a waiver to Russian cargoes does not cover sales to Cuba March 20 (Reuters) – A tanker carrying fuel originally bound for Cuba on Friday changed its destination to Trinidad and Tobago, according to LSEG ship-tracking data, a … Read more
CEO says Iran war has bolstered the outlook for the Ksi Lisims LNG project which will need a pipeline partner By Meghan Potkins Two years after exiting a key pipeline project tied to a proposed new liquefied natural gas terminal on British Columbia’s coast, TC Energy Corp. chief executive François Poirier says the company could … Read more
(Reuters) – Prime Minister Anthony Albanese has asked Australia’s Treasury to model options for a tax on the windfall profits of gas companies, the Australian Broadcasting Corporation reported on Friday, as well as to suggest reforms to the Petroleum Resources Rent Tax ahead of the annual budget in May. Australia is the world’s third-largest LNG … Read more
(Reuters) – Asian refiners are increasingly sending medium-sized crude cargoes from the U.S. Gulf Coast to Asia through the Panama Canal as the U.S.-Israeli war with Iran disrupts trade flows, raises shipping costs and forces Asian refiners to hunt for alternative supplies. The use of medium-sized tankers that typically cost more per barrel to transport … Read more
(Reuters) – North Dakota crude output is expected to rise in March and the following months as operators in the third-largest oil-producing state restart inactive wells and winter restrictions are eased, the state’s regulator said on Thursday. The North Dakota Department of Mineral Resources said, however, that the pace of activity would depend on how … Read more
JUNO BEACH, Fla., March 19, 2026 /PRNewswire/ — NextEra Energy, Inc. (NYSE: NEE), the largest energy infrastructure builder in the United States, confirmed today that President Donald J. Trump has approved the development of up to 10 gigawatts of natural gas?powered generation in Texas and Pennsylvania. The approval, made in connection with Japan’s $550 billion … Read more
By Scott Disavino NEW YORK, March 20 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday. The oil and gas rig count, an early indicator of … Read more
Workers at BP’s Whiting, Indiana, refinery began picketing on Thursday after the British oil major barred more than 800 union members from entering the facility, following months of stalled contract negotiations. The labor dispute at Whiting, the Midwest’s largest refinery, comes at a time of elevated gasoline and diesel prices as the Middle East … Read more
Japan may start stockpiling U.S. oil domestically, Prime Minister Sanae Takaichi said during her visit to the United States, as it looks to diversify procurement and strengthen energy security. Before Japan tapped its strategic oil stocks this week in a record release to offset fallout from Middle East supply disruptions and rising energy prices, it … Read more
The International Energy Agency chief Fatih Birol warned in an interview with the Financial Times on Friday that it could take up to six months to restore oil and gas flows from the Gulf, saying the world is facing what could be the most severe energy crisis in history. “It will be six months … Read more
As Somali pirates hijacking giant cargo vessels and tankers from tiny motorised skiffs wreaked havoc across the region from the mid-2000s to the early 2010s, a tiny group of UK military reservists in a bungalow in the gardens of the British diplomatic mission in Dubai found themselves fielding daily calls from panicked merchant ships. The … Read more
(Reuters) – Israel’s attack on an Iranian gas field on Wednesday was coordinated with the United States but is not likely to be repeated, three Israeli officials said, despite President Donald Trump saying he did not know about it in advance. The attack on Iran’s South Pars gas field drew an Iranian aerial assault on … Read more
(Reuters) – U.S. Defense Secretary Pete Hegseth said on Thursday that the United States’ objectives in the war against Iran have not changed since strikes started on February 28. The United States has carried out strikes against 7,000 targets inside Iran so far, and hit more than 40 Iranian mine-laying vessels and 11 submarines, … Read more
(Reuters) – The U.S. may soon remove sanctions from Iranian oil that is stranded on tankers to help lift global supplies and reduce prices, U.S. Treasury Secretary Scott Bessent said on Thursday. “In the coming days, we may unsanction the Iranian oil that’s on the water. It’s about 140 million barrels,” Bessent told Fox Business … Read more
(Reuters) – Iranian attacks have knocked out 17% of Qatar’s liquefied natural gas (LNG) export capacity, causing an estimated $20 billion in lost annual revenue and threatening supplies to Europe and Asia, QatarEnergy’s CEO told Reuters on Thursday. Saad al-Kaabi said two of Qatar’s 14 LNG trains and one of its two gas-to-liquids (GTL) facilities … Read more
Summary European nations, Japan willing to help secure Strait of Hormuz US weighs further SPR release Kuwait said oil refinery attacked overnight (Reuters) – Oil prices gained on Friday despite leading European nations, Japan and Canada offering to join efforts to secure safe passage for ships through the Strait of Hormuz and the U.S. outlining … Read more
Brent crude rose more than 10 per cent to as high as US$119 a barrel on Thursday By Patrick Sykes and Dana Khraiche U.S. President Donald Trump called on Israel and Iran to stop attacks on energy facilities as the war in the Middle East escalated, with damage to key oil and gas infrastructure triggering … Read more
(Reuters) – The United States issued a new general license on Thursday to replace an earlier waiver for the sale of Russian-origin crude oil and petroleum products loaded on tankers as of March 12, according to the U.S. Treasury Department. The license, which expires on April 11, replaces and supersedes a similar 30-day sanctions waiver … Read more
(Reuters) – U.S. Energy Secretary Chris Wright on Thursday said in a post on X that President Donald Trump’s administration has no plan to implement restrictions on oil and gas exports. Reporting by Bhargav Acharya; Writing by Daphne Psaledakis; Editing by Ryan Patrick Jones
The industry is staring down prolonged disruptions in the Persian Gulf. Emerging economies are already paying the price. By Ruth Liao, Stephen Stapczynski and Priscila Azevedo Rocha Each week the world’s largest liquefied natural gas plant remains shut, the world loses the equivalent of enough energy to power Sydney’s homes for an entire year. Qatar’s … Read more
(Reuters) – Goldman Sachs said on Thursday that risks to oil prices remain skewed to the upside both in the near term and into 2027. The bank added that the persistence of several past large supply shocks highlights the possibility that oil prices could remain above $100 per barrel. Benchmark Brent crude surged above $119 … Read more
(Reuters) – German Finance Minister Lars Klingbeil is examining additional ways to relieve consumers from rising fuel prices due to the Iran war, including introducing a windfall tax on oil companies, his ministry said on Thursday. The money gained from the tax could be used to finance an increase in the commuter allowance, for example, … Read more
(Reuters) – Leading nations in Europe said in a joint statement with Japan on Thursday they would take steps to stabilise energy markets and were ready to join “appropriate efforts” to ensure safe passage through the Strait of Hormuz. The statement from Britain, France, Germany, Italy, the Netherlands and Japan, condemned attacks by Iran and … Read more
(Reuters) – European countries scrambled to cushion the impact of soaring oil prices on Thursday after tit-for-tat strikes on Gulf energy plants, including the world’s largest gas plant in Qatar – the most economically significant escalation of the U.S.-Israeli war on Iran. State oil giant QatarEnergy reported “extensive damage” after Iranian missiles hit the Ras … Read more
(Reuters) – Most oil and gas majors operate in the Middle East, where the U.S.-Israeli war on Iran has disrupted shipping and output. Shell’s Pearl plant and Saudi Arabia’s SAMREF refinery were reported damaged, while TotalEnergies said 15% of production is offline. Here are some details on the majors’ production in the region, in alphabetical … Read more
Shell plc, London, March 19, 2026 Qatar Update The safety and security of Shell’s employees and contractors is our highest priority. Shell continues to work closely with local authorities, our partners and customers. LNG production in Qatar has been shut down since early March. During the evening of 18th March, an attack on Ras Laffan Industrial … Read more
(Reuters) – The Saudi port of Yanbu, one of two major remaining export routes for Gulf Arab oil after Iran effectively shut the Strait of Hormuz, has stopped oil loadings, two sources told Reuters on Thursday, after the Saudi defence ministry said it intercepted a ballistic missile over the city. The ministry said earlier that … Read more
(Reuters) – A prolonged U.S.-Israeli war with Iran could push buyers to non-Middle East suppliers such as the U.S. and Canada, said a senior executive at Japan’s biggest power generator JERA, as the conflict spreads to energy infrastructure across the region. “With 90 million metric tons from the Middle East absent from the global LNG … Read more
Understanding the relationship between West Texas Intermediate (WTI) and Brent Crude is essential for navigating energy markets. These two benchmarks represent different regions, qualities, and logistical realities, and their price difference—the Brent-WTI spread—serves as a vital indicator of global energy health. Core Differences Between WTI and Brent Geographic Origin: WTI: Primarily sourced from U.S. fields … Read more
Summary Iranian missile attacks cause extensive damage to Qatar’s LNG facilities Trump warns of massive response if Iran attacks Qatari LNG again Fires after drone attacks target Kuwait’s Mina al-Ahmadi, Mina Abdullah refineries Drone falls in Aramco-Exxon SAMREF refinery, missile towards Yanbu intercepted UAE shuts gas facilities after intercepting missiles, no injuries reported (Reuters) – … Read more
Summary US EIA lifts forecast for average 2026 crude price by 37% EIA’s average gasoline price estimate for 2026 is up 15% US pump price of $3.79/gallon is up from $2.92 a month ago (Reuters) – President Donald Trump and congressional Republicans are betting the oil-price shock sparked by the Iran crisis will be … Read more
Reuters The discount for U.S. crude futures versus Brent on Wednesday hit the widest in 11 years, as attacks on Middle Eastern oil infrastructure drove the global benchmark higher while rising supply in the U.S. set the stage for a jump in oil exports. The U.S-Israeli war on Iran has thrown global oil markets into … Read more
By Gavin Maguire LITTLETON, Colorado, March 18 (Reuters) – As the U.S.-Israeli war against Iran heads towards its fourth week, pressure is mounting on major economies dependent on fossil fuels to keep their power sectors, transport fleets, and homes and businesses running. Global prices of natural gas, fuels, fertilizers, industrial acids and other products have … Read more
By Gabriel Cohen | Editing Niccolo Conte | Design Sabrina Lam Key Takeaways The U.S. was the world’s largest crude oil producer in 2025, pumping 13.58 million barrels per day. Five of the world’s top 10 crude oil producers are in the Middle East. Russia and Saudi Arabia ranked second and third globally, each producing … Read more
Summary Qatar, Saudi Arabia, Kuwait hit by Iran missile attacks Brent premium over WTI widening Brent near March 9 highs (Reuters) – Benchmark Brent oil prices jumped above $119 a barrel on Thursday after Iran attacked energy facilities across the Middle East following Israel’s strike on its South Pars gas field, a major escalation in … Read more
The U.S. government on Wednesday held its most successful sale ever of oil and gas drilling rights in Alaska’s National Petroleum Reserve, attracting $163 million in winning bids from industry players including ExxonMobil, ConocoPhillips, Repsol and Shell. The sale appeared to show pent-up demand from drillers for acreage in the reserve after more than six years without … Read more
By Yomna Ehab and Jaidaa Taha March 18 (Reuters) – Qatar’s state oil giant QatarEnergy said on Wednesday that Iranian missile attacks on Ras Laffan, the site of the country’s core LNG processing operations, caused “extensive damage.” “Emergency response teams were deployed immediately to contain the resulting fires,” the world’s second-largest LNG exporter said in … Read more
By Parisa Hafezi, Rami Ayyub and Maya Gebeily Pars is Iran’s sector of the world’s largest gas deposit, shared with Qatar Qatar says energy-industry hub hit US spy chief says Iran degraded, but intact and able to attack Iran confirms killing of Iranian intelligence minister Tehran strikes Israel after killing of security chief Larijani Israel … Read more
By Siddharth Cavale Oil exports from Iraq and Libya resume Wednesday amid security, economic challenges Qatar , Saudi Arabia hit by missile attacks from Iran Brent, WTI futures extend gains in post-settlement trade NEW YORK, March 18 (Reuters) – Oil prices settled higher on Wednesday and climbed further in extended trade after Iran attacked several … Read more
(Reuters) – Saudi Arabia’s crude exports in January rose to 6.993 million barrels per day from 6.988 million bpd in December while crude output hit its highest since April 2023, data from the Joint Organizations Data Initiative (JODI) showed on Wednesday. The world’s largest oil exporter, Saudi Arabia currently faces trouble exporting as war in … Read more
(Reuters) – Iran’s energy industry in South Pars and Asaluyeh came under attack on Wednesday, Iran’s semi-official Tasnim news agency reported. Iran’s Revolutionary Guards responded with evacuation warnings for several oil facilities across Saudi Arabia, UAE, and Qatar. The escalation is part of the U.S.-Israeli war on Iran, which has been raging since the end … Read more
(Reuters) – Some facilities belonging to Iran’s oil industry in South Pars and Asaluyeh were attacked on Wednesday, semi-official Tasnim news agency reported, while Iran’s Revolutionary Guards issued evacuation warnings for several oil facilities across Saudi Arabia, UAE, and Qatar. Oil prices jumped on the news, with Brent crude futures gaining over 4% to a … Read more
(Reuters) – Iran issued an evacuation warning for several oil facilities across Saudi Arabia, the UAE, and Qatar, saying they would be targeted by strikes “in the coming hours”, Iranian state media reported on Wednesday. The warning was directed at Saudi Arabia’s Samref Refinery and Jubail Petrochemical Complex, the United Arab Emirates’ Al Hosn Gas … Read more
By Robert Cyran NEW YORK, March 18 (Reuters Breakingviews) – It took two Middle East oil shocks for the world to really focus on energy efficiency. The result was a multi-decade, steady reduction in the amount required to produce a certain amount of wealth. If the region’s latest crisis persists, it will accelerate the trend … Read more
Markets on edge about the Iran-war-driven oil shock are extrapolating today’s stress far into the future – and may thus be badly misjudging how dovish the Federal Reserve will be this year. The oil price spike, which sent Brent crude into triple digits last week, has increased U.S. inflation risks and reduced market expectations for … Read more
A U.S. plan to help control global oil prices with a swap of millions of barrels of oil from the Strategic Petroleum Reserve depends on energy companies returning oil back to the facility with high premiums in the form of additional barrels, which some traders said could deter participation. The exchange is part of a … Read more
By Reuters Russia is struggling to fully benefit from the surge in global oil prices from the Middle East war as drone attacks on export infrastructure and bad weather curb its oil exports, according to Reuters estimates based on LSEG data and industry sources. Asian states including Thailand, Indonesia, Sri Lanka and others expressed interest in Russian oil … Read more
By Paul Burkhardt, Julian Lee, Anthony Di Paola, and Elena Mazneva The Ras Tanura oil refinery and oil terminal in Saudi Arabia Photographer: Simon Dawson/Bloomberg Oil and gas markets have been rocked by disruption to supply out of the Persian Gulf. Prices of both commodities have jumped since the US and Israel began their strikes … Read more
By Jamie McGeever (Reuters) – With much of the world’s focus this year fixed on U.S. President Donald Trump’s controversial foreign policy agenda, many may have missed China’s quiet – but significant – economic renaissance. The U.S. president was originally scheduled to meet China’s President Xi Jinping for a summit in Beijing on March 31-April … Read more
(Reuters) – Asian utilities are boosting coal-fired power generation to cut costs and safeguard energy supply, industry officials say, as the U.S.-Israeli war on Iran chokes liquefied natural gas (LNG) shipments and soaring prices threaten to suppress LNG demand. Asia spot LNG prices have doubled to three-year highs in the second major supply shock in … Read more
By Bo Erickson and Jarrett Renshaw WASHINGTON, March 18 (Reuters) – U.S. Vice President JD Vance and Energy Secretary Chris Wright will meet on Thursday with the American Petroleum Institute, the nation’s largest oil trade group, as the Trump administration looks to ease rising gas prices. In the third week of the … Read more
BP locks out union workers at its Midwest refinery BP on Tuesday said it will lock out approximately 800 United Steelworkers members from its 440,000 barrel-per-day Whiting, Indiana, refinery starting at 12:00 a.m. on March 19, citing a breakdown in negotiations over a new labor agreement. The British oil major ended its 24-hour rolling contract … Read more
Summary Oil exports resume Wednesday amid security, economic challenges US crude stocks rose last week, sources cite API data Brent futures above $100 as no sign of war de-escalation (Reuters) – Brent crude prices rose more than 4% on Wednesday after Iran’s Revolutionary Guards threatened several energy facilities across Saudi Arabia, UAE, and Qatar in retaliation for … Read more
(Reuters) – Oil tankers are crossing the Strait of Hormuz and Iran’s actions to choke traffic through the shipping route have not hurt the U.S. economy, White House economic adviser Kevin Hassett told CNBC on Tuesday, reiterating the Trump administration’s position that the war should be over in weeks, not months. “Already you’re seeing tankers … Read more
By Anthony Hughes Oil drilling rigs near Stanton, Texas. Photographer: Justin Hamel/Bloomberg Stock sales by US-listed oil and gas producers are making March the sector’s busiest month in more than six years as the war in Iran whips up volatility and stalls capital-raising activity from other corners of the market. With West Texas Intermediate crude … Read more
By Julian Hast Fort St. Vrain Generating Station in Platteville, Colorado. Photographer: Chet Strange/Bloomberg US natural gas futures rose along with oil, which continues to climb on concerns over a prolonged disruption to energy supplies through the Strait of Hormuz. Those worries, which do not fundamentally affect the short-term US gas market, outweighed a small … Read more
The few vessels making their way through the Strait remain a tiny fraction of the usual flow By Weilun Soon and Alex Longley A Pakistani tanker earlier this week became the latest vessel to sail out through the Strait of Hormuz by hewing closely to the Iranian coast, suggesting an approved route that points to … Read more
LG confirmed the deal after it was mentioned in a U.S. Department of the Interior statement By Hyonhee Shin An LG Energy Solution Co. battery cell for electric vehicle displayed at the InterBattery exhibition in Seoul, South Korea, on March 17, 2022. Photo by SeongJoon Cho/Bloomberg LG Energy Solution Ltd. said it will produce US$4.3 … Read more
By Ron Bousso LONDON, March 17 (Reuters) – Iran’s threat to send oil prices to $200 a barrel may sound like bombast, but as the energy crisis drags on, that outcome looks more likely than U.S. President Donald Trump’s prediction that prices will soon fall back to pre-war levels. Now in its third week, the … Read more
By Florence Tan, Siyi Liu and Nidhi Verma Platts Dubai crude price hit record $157.66/bbl, surpass Brent’s 2008 high Dubai’s premium jumps to $60.82/bbl; Oman’s premium near $56 Record premiums stall trade, prices distorted, traders say SINGAPORE/NEW DELHI, March 16 (Reuters) – Middle East crude oil benchmarks soared to all-time highs, becoming the most expensive … Read more
By Clyde Russell LAUNCESTON, Australia, March 17 (Reuters) – China continued to boost its crude oil inventories in the first two months of the year as strong imports and domestic output exceeded an increase in refinery production. China’s surplus of crude oil was 1.24 million barrels per day (bpd) in the January-February period, according to … Read more
March 17 (Reuters) – Oil loading at the United Arab Emirates port of Fujairah was at least partly halted on Tuesday after a third attack in four days caused a fire at the export terminal, while operations at the Shah gas field remained suspended after an earlier attack. The cascading disruptions threaten to completely … Read more
Summary Iran renews attacks on US Gulf allies Strait of Hormuz disruption has halved UAE crude output Middle East crude benchmarks hit record highs (Reuters) – Oil prices rose by nearly 3% on Tuesday, clawing back some of the previous session’s losses as Iranian attacks on the United Arab Emirates rekindled supply fears while the … Read more
U.S. officials are drafting agreements to pay French oil major TotalEnergies about $1 billion in settlements due to the cancellation of leases for its wind farms in federal waters off New York State and North Carolina, the New York Times reported on Tuesday. Under the terms of the proposed settlements, the U.S. Interior … Read more
War in the Middle East is spurring interest in Asia for gas from the $44 billion Alaska LNG project, top executives of lead developer Glenfarne said, who aim to make final investment decisions this year and next, and start shipping LNG in 2031. Final go-aheads for the project’s pipeline and export terminal have been delayed … Read more
(Reuters) – Authorities in Abu Dhabi on Monday were dealing with a fire at the Shah oil and gas field caused by a drone attack and said that no injuries had been reported so far, the Abu Dhabi media office reported. The Shah field is one of the world’s largest of its kind and is … Read more
(Reuters) – European Union foreign ministers showed “no appetite” to expand an EU naval mission in the Middle East to the Strait of Hormuz for the time being, EU foreign policy chief Kaja Kallas said on Monday. U.S. President Donald Trump has called on other nations to help police the strait after Iran responded to … Read more
(Reuters) – U.S. President Donald Trump said on Monday that it was unclear whether new Iranian leader Ayatollah Mojtaba Khamenei was still alive, given reports he had been injured in an air strike. “We don’t know… if he’s dead or not. I will say that nobody has seen him, which is unusual,” he said during … Read more
(Reuters) – Daily oil exports from the Middle Eastern Gulf, home to top exporter Saudi Arabia and other major producers, have dropped by at least 60% in the week to March 15 compared to February due to disruptions and output cuts amid the U.S.-Iran war, according to shipping data and Reuters calculations. The effective closure … Read more
(Reuters) – This is a historic week in the world of monetary policymaking. The “G4” central banks meet in the same week for the first time since December 2021, and only the second time ever, with investors clamoring for evidence of whether the Middle East oil shock could make policymakers start thinking about rate hikes. … Read more
By Gianluca Lo Nostro and Robert Harvey IEA’s 400 million barrel release calmed markets, Birol says IEA warns of prolonged disruptions to global energy trade Oil-importing emerging economies in Asia hit hardest by oil supply shock PARIS/LONDON, March 16 (Reuters) – The International Energy Agency’s member countries could release more oil into the market from … Read more
By Bo Erickson, Maayan Lubell and Parisa Hafezi US-Israeli war on Iran enters third week, boosting global oil prices Several allies decline US call to escort shipping in Hormuz Israel has at least three weeks of plans for military strikes Iran fires at Israel, launches drone attacks on UAE and Bahrain WASHINGTON/TEL AVIV/DUBAI, March 16 … Read more
By Priscila Azevedo Rocha Shell Plc sees long-term global demand for liquefied natural gas continuing to grow because of its flexibility and reliability, even as the conflict in the Middle East brings volatility to prices. The company expects consumption for the fuel to surge by at least 45% by 2050 from 2025 levels, it said … Read more
By Nick Heubeck and Marton Kasnyik The war in the Middle East is causing unprecedented turmoil in oil markets, supercharging shares in European energy companies that are expected to benefit from higher prices and turning other stocks into laggards. Much depends on how the Iran conflict develops, but investors have so far flocked to companies … Read more
By Rong Wei Neo, Robert Tuttle, and Alex Longley Global oil markets face another week of turmoil after a US attack on Iran’s main export hub heightened risks to supply across the Middle East, and deepened concerns over a conflict that’s already upended energy flows. President Donald Trump said late on Friday that US forces … Read more
(Reuters) – The United States is “fine” with some Iranian, Indian and Chinese ships going through the Strait of Hormuz for now, Treasury Secretary Scott Bessent said on Monday, adding that any action to mitigate higher prices would depend on how long the Iran war lasts. “We are seeing more and more of the fuel … Read more
(Reuters) – The United Arab Emirates’ daily oil output is down by more than half as the Iran conflict and the effective closure of the Strait of Hormuz forced state oil giant ADNOC to implement widespread production shut-ins, two sources told Reuters. The halt of commercial navigation through the critical maritime chokepoint, which is normally … Read more
By Jarrett Renshaw and Steve Holland Trump adviser says Iran tensions historically added $5–$15 a barrel via risks to Strait of Hormuz Report says Iran risk premium lifts crude 7%–21% above fundamentals University of Houston economist disputes claims and warns war costs could outweigh benefits PALM BEACH, Florida, March 16 (Reuters) – Neutralizing Iran could … Read more
By Ron Bousso LONDON, March 16 (Reuters) – The U.S. is rapidly running out of shock absorbers to cushion the oil market from the loss of Middle Eastern crude supplies as the Iran war rages, raising the risk of a deeper global economic slowdown if demand destruction accelerates. As the U.S.-Israeli war on Iran enters … Read more
U.S. Secretary of Energy Chris Wright has authorized a 13% increase in exports at Venture Global’s Plaquemines liquefied natural gas terminal in Louisiana, the U.S. Department of Energy said on Friday. The move allows additional exports of up to 0.45 billion cubic feet per day of U.S. natural gas as LNG to non-free-trade-agreement (non-FTA) countries … Read more
Chief executives of major U.S. oil companies warned official of U.S. President Donald Trump’s administration that the energy crisis triggered by the Iran war is likely to get worse, The Wall Street Journal reported on Sunday, citing people familiar with the matter. The CEOs of Exxon, Chevron and Conocophillips warned in a series of White House meetings … Read more
By Bruno Venditti | Graphics/Design: Amy Kuo Key Takeaways Oil is the largest energy source in six of the world’s 10 biggest economies, including the U.S., Germany, Japan, the UK, and Italy. Coal dominates energy supply in China and India, accounting for nearly 60% of their energy mixes. France stands out for nuclear power, which … Read more
British energy major BP has received approval from the Trump administration to advance its Kaskida project in the Gulf of Mexico, a company spokesperson told Reuters in an emailed statement late on Friday. The $5 billion investment would unlock 10 billion barrels of resources that BP has discovered in the Paleogene fields of the U.S. … Read more
Summary US in talks with other countries to protect Strait of Hormuz Brent, WTI have surged more than 40% this month US hit military targets on Iran’s Kharg Island oil export hub Oil reserves to begin flowing to market soon, IEA says (Reuters) – Oil prices were mixed on Monday with benchmark Brent crude slightly … Read more
The loss of as much as 20% of the world’s crude oil and refined fuels through the ongoing effective closure of the Strait of Hormuz gathers most of the media attention as the main fallout from the attack on Iran by the U.S. and Israel. But of more pressing concern is the rapid tightening of … Read more
Energy developer Glenfarne needs to secure offtake agreements for a further 3 million metric tons of liquefied natural gas before making a final investment decision on the $44 billion Alaska LNG project, its chief executive said on Sunday. The lead developer of the Alaska project is in talks with two potential buyers to add the … Read more
March 16 – U.S. President Donald Trump has demanded help from allies to reopen the Strait of Hormuz, which usually carries about a fifth of global energy supplies, but even if he can assemble a major coalition it could prove very hard to end Iran’s blockade. Iran lies along one side of the narrow strait and … Read more
More than 400 million barrels of oil from International Energy Agency emergency reserves will begin flowing soon, the agency said in its most detailed account of the rollout of the plan to combat a spike in crude prices since the start of the Iran war. Stocks from Asia and Oceania countries will be available immediately … Read more
U.S. President Donald Trump threatened further strikes on Iran’s Kharg Island oil export hub and urged allies to send warships to secure the Strait of Hormuz, as Tehran vowed to step up its response and the war showed no sign on Sunday of coming to an end. Trump said the U.S. strikes had “totally demolished” … Read more
Oil loading operations at the United Arab Emirates’ Fujairah emirate, a major bunkering hub and crude export terminal, have resumed after a drone attack and fire on Saturday, four sources told Reuters, but it was unclear if the operations were back to normal. An Indian-flagged vessel loaded with 80,800 tonnes of United Arab Emirates’ Murban oil, … Read more
By Dorothy Neufeld | Graphics/Design: Amy Kuo Key Takeaways The Netherlands imported 419 million barrels, making it the world’s largest buyer of American crude, ahead of much larger economies like China, India, and Japan. Mexico fell to second place, importing 398 million barrels. China’s imports of U.S. oil declined 34% in 2025, while India’s rose … Read more
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. Kharg Island, where U.S. forces on Friday destroyed military targets, is the hub for 90% of Iran’s oil exports and has long been seen as a key vulnerability that would provoke a severe response by Tehran if attacked. President Donald Trump said on social media that the U.S. “totally obliterated every MILITARY target” on … Read more
By Arathy Somasekhar and Nicole Jao California now more dependent on costlier fuel imports from Asia West Coast refineries account for about 50% of Middle East crude imports to US Prices spike for alternative barrels of crude due to Asia demand HOUSTON, March 13 (Reuters) – Fuel costs in California are soaring even more than … Read more
Summary Reports of resolution, continued fighting move prices US measures aimed at easing supply tightness Disruption of trade through the strait continues (Reuters) – Crude futures climbed higher on Friday as the Strait of Hormuz remained closed, but analysts were wary the weekend might bring surprise changes in the status of the war two weeks after it … Read more
(Reuters) – Iran has allowed two Indian-flagged liquefied petroleum gas carriers to sail through the Strait of Hormuz, four sources with direct knowledge of the matter said, a rare exception to the Iranian blockade that has disrupted global energy supplies. The Indian-flagged LPG tanker Shivalik crossed the Strait under escort from the Indian Navy, said … Read more
By Erwin Seba Reports of resolution, continued fighting move prices US measures aimed at easing supply tightness Disruption of trade through the strait continues HOUSTON, March 13 (Reuters) – Crude futures climbed higher on Friday as the Strait of Hormuz remained closed, but analysts were wary the weekend might bring surprise changes in the status … Read more
By Samia Nakhoul Tehran restricts energy artery to thwart US pressure Insurgent-state tactics: Missiles, drones across several fronts IRGC adopts shadow war approach long used by its proxies Plan has echoes of Iran’s playbook in 1980-88 war with Iraq DUBAI, March 13 (Reuters) – Long before the U.S. and Israel attacked Iran, the Islamic Republic … Read more
(Reuters) – There is no clear evidence that Iran has placed mines in the Strait of Hormuz, U.S. Defense Secretary Pete Hegseth told a news briefing on Friday. The assessment by Hegseth contrasts with news reports earlier this week suggesting Iran had deployed about a dozen mines in the Strait of Hormuz, the conduit for … Read more
(Reuters) – Russia sees a U.S. sanctions waiver on its oil as an attempt by Washington to stabilise global energy markets, and the two countries have a shared interest in this, Kremlin spokesman Dmitry Peskov said on Friday. The United States issued a 30-day waiver for countries to buy sanctioned Russian oil and petroleum products … Read more
(Reuters) – The surge in energy prices triggered by the U.S.-Israeli war on Iran is putting European governments under pressure to help households and businesses, but strained finances in some major economies mean their firepower is limited. That makes it unlikely they will match the broad support provided after Russia’s full-scale invasion of Ukraine three … Read more
BP said late on Thursday that its represented workforce at its Whiting refinery in Indiana has voted not to ratify the company’s last, best, and final offer. “BP will continue to bargain in the best interests of our employees, our company, and the community,” the company said in a statement. BP last week had presented … Read more
(Reuters) – The U.S. plans to release 172 million barrels of oil from its Strategic Petroleum Reserve, more than 40% of a wider release coordinated with allies, to help dampen prices spiked by supply disruptions from the U.S.-Israeli war on Iran. The U.S. sale, announced late on Wednesday, is part of a 400-million-barrel release by … Read more
Summary US puts forward measures aiming to ease supply tightness Disruption of trade through Strait of Hormuz continues Goldman expects Brent will average over $100 a barrel in March (Reuters) – Oil prices dipped on Friday, but were on track for weekly gains as Gulf disruptions from the Middle East conflict outweighed U.S. and International … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since early February, 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, rose by two … Read more
(Reuters) – The “Trump always chickens out” investment strategy – buying beaten-down stocks on the assumption that the U.S. president will ultimately back down from his more extreme policies – has, for the most part, been a profitable one. But the Iran war may change that. The joint U.S.-Israeli attack on Iran on February 28 … Read more
Summary US waiver allows purchase of stranded Russian oil Germany and other European allies criticise US decision Moscow welcomes US move to stabilise energy markets (Reuters) – The United States issued a 30-day waiver for countries to buy sanctioned Russian oil and petroleum products stranded at sea, drawing criticism from Germany and other … Read more
March 12 (Reuters) – The U.S. Department of Energy will invest about $1.9 billion to accelerate upgrades of power grids in the country, it said on Thursday. U.S. power consumption is set to rise sharply this year and the next, driven by rapid growth in AI and cryptocurrency data centers and increased electrification of heating … Read more
HOUSTON, March 12, 2026 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) (“Vaalco” or the “Company”) today reported operational and financial results for the fourth quarter and full year of 2025, including year-end 2025 reserves. Additionally, the Company provided operational and financial guidance for the first quarter and full year of 2026. 2025 … Read more
The United States issued a 30-day license for countries to buy Russian oil and petroleum products currently stranded at sea in what Treasury Secretary Scott Bessent said was a step to stabilize global energy markets roiled by the Iran war. The announcement comes a day after the U.S. Energy Department said that the U.S. would … Read more
By Siddharth Cavale Iran supreme leader says Strait of Hormuz to remain closed Iranian boats attacked two tankers in Iraqi waters IEA release of 400 million barrels may give limited relief NEW YORK, March 12 (Reuters) – Oil prices settled up about 9% on Thursday, at their highest in nearly four years, as Iran stepped … Read more
By Timothy Gardner and Susan Heavey Lawmakers say Trump prioritizes oil companies over consumers Energy Secretary Chris Wright says $200-a-barrel oil unlikely Oil prices up despite U.S. efforts to control them WASHINGTON, March 12 (Reuters) – U.S. President Donald Trump said on Thursday the United States stood to make significant money from oil prices driven … Read more
By Anirban Sen BOCA RATON, Florida, March 12 (Reuters) – The heads of a number of top exchanges, including CME Group (CME.O) and Toronto Stock Exchange parent TMX Group (X.TO), oppose any potential intervention from the U.S. government involving the oil futures market, amid rising energy prices in the aftermath of the Iran conflict. The … Read more
(Reuters) – The U.S. Navy, perhaps with an international coalition, will escort vessels through the Strait of Hormuz when it is militarily possible, U.S. Treasury Secretary Scott Bessent told Sky News in an interview on Thursday. “My belief, that as soon as it is militarily possible, the US Navy, perhaps with an international coalition, will … Read more
(Reuters) – U.S. spot natural gas prices for Thursday at the Waha Hub in the Permian Shale in West Texas closed in negative territory for a record 25th straight day as pipeline constraints trap gas in the nation’s biggest oil-producing basin, prompting some analysts to project that gas production could be reduced in the short … Read more
One outlook sees ‘six more LNG-Canada-sized projects’ By Don MacLachlan The LNG carrier Gaslog Glasgow loading LNG Canada’s first export cargo (in 2025) By Resource Works More News and Views From Resource Works Here While Ottawa talks of Canada becoming “an energy superpower,” with LNG exports of as much as 100 million tonnes a year, … Read more
Detecting airborne hydrocarbons including methane, hydrogen and other fugitive emissions within seconds of exposure. Revolutionizing Engine Safety with ShockerEDGE As a leader in the global energy sector, your commitment to safety is paramount. With ShockerEDGE, you have the opportunity to set a new standard in industrial safety. ShockerEDGE is the first and only technology of its kind, specifically … Read more
(Reuters) – Iranian crude oil has continued to flow through the Strait of Hormuz at a near-normal pace even as Tehran-linked attacks on ships in the narrow waterway have decimated exports from other Gulf countries, a Reuters review of tanker tracking data showed. Iran has exported about 13.7 million barrels of crude oil since Israel … Read more
(Reuters) – Iraq will keep crude oil production at around 1.4 million barrels per day, Oil Minister Hayan Abdel-Ghani was quoted as saying on Thursday, less than a third of the level before the U.S.-Israeli conflict with Iran. According to the state news agency, the minister said that 200,000 bpd is being transported by truck … Read more
(Reuters) – The war in the Middle East is creating the biggest oil supply disruption in history, the International Energy Agency said on Thursday, a day after it agreed to release a record volume from strategic stockpiles to offset shortages and a spike in prices. Global supply is expected to drop by 8 million barrels … Read more
(Reuters) – Crude oil futures prices are reflecting a view that the market can successfully navigate the Iran war, while prices for physical cargoes and refined products are signalling an imminent crisis. Only one of these price signals is correct – and it’s not what is happening in the paper oil market. Global benchmark Brent … Read more
U.S. Energy Secretary Chris Wright said on Thursday global oil prices are unlikely to hit $200 a barrel even as crude tankers remained stalled in the Strait of Hormuz and the U.S. and Israeli war with Iran widened. “I would say unlikely, but we are focused on the military operation and solving a problem,” Wright … Read more
Goldman Sachs raised its Brent and WTI crude oil price forecasts for the fourth quarter of 2026 to $71/67 per barrel from $66/62 as it sees longer disruption to oil flows in the Strait of Hormuz due to the U.S.-Israeli war on Iran. Brent prices have gained more than 36% since the war began on … Read more
Summary Iranian source denies any such agreement Indian source says assurance came after foreign ministers spoke India says 28 Indian-flagged vessels around Strait They have 778 Indian sailors aboard Suezmax tanker Shenlong, carrying Saudi crude, reaches Mumbai (Reuters) – Iran will allow Indian-flagged tankers to transit the Strait of Hormuz, a conduit for 40% of … Read more
The U.S. will release 172 million barrels of oil from its strategic petroleum reserve in a bid to reduce oil prices that have soared due to supply shocks from the U.S.-Israeli war on Iran, U.S. Energy Secretary Chris Wright said on Wednesday. Wright said the release is part of a broader release of 400 million … Read more
Summary Iranian boats attacked two tankers in Iraqi waters, port officials said Shipping through Strait of Hormuz still halted IEA proposed release of 400 million barrels may offer only limited relief, analysts say (Reuters) – Oil prices rose sharply on Thursday as Iran stepped up attacks on oil and transport facilities across the Middle East, … Read more
The United States and Iran have signaled no quick end to their war, with U.S. President Donald Trump saying it was necessary to finish the job and Iran warning that the world should be ready for oil at $200 a barrel after striking tankers in Iraqi waters and other ships near the vital Strait … Read more
By Erwin Seba and Nicole Jao India’s Reliance to invest in refinery, buy output Deal likely to reduce trade deficit with India Fuel prices spike as US, Israel attack Iran HOUSTON, March 10 (Reuters) – President Donald Trump on Tuesday announced the construction of a refinery on the southern U.S. border backed by India’s Reliance … Read more
FORT WORTH, Texas, March 11, 2026 (GLOBE NEWSWIRE) — HighPeak Energy, Inc. (“HighPeak” or the “Company”) (NASDAQ: HPK) today announced financial and operating results for the quarter and year ended December 31, 2025. In addition, HighPeak provided its 2026 guidance and capital budget, as approved by its Board of Directors. A statement from our President … Read more
Summary Three more vessels hit in Strait of Hormuz Fourteen ships struck since Iran war began IEA proposes release of 400 million barrels of oil Analysts call release insufficient to ease supply woes US crude stocks up more than expected; fuel stocks drop (Reuters) – Oil prices settled up nearly 5% on Wednesday as fresh … Read more
(Reuters) – Iran has deployed about a dozen mines in the Strait of Hormuz, two sources familiar with the matter said, in a move likely to complicate the reopening of the narrow waterway, an important route for shipping oil and liquefied natural gas. Exports of oil and LNG through the strategic chokepoint along Iran’s coast … Read more
(Reuters) – U.S. Interior Secretary Doug Burgum on Wednesday welcomed the International Energy Agency’s move to release 400 million barrels of oil, but said only President Donald Trump could approve participation by Washington in such a move. Burgum, speaking to CNBC, also said U.S. oil companies would soon announce increased production amid price spikes triggered … Read more
(Reuters) – U.S. Interior Secretary Doug Burgum said on Wednesday that U.S. oil companies will soon announce increased production amid price spikes due to the ongoing Iran conflict. “I think you’re going to see them all announcing that they’ve increased production, you know, here in the United States in response to the price signals and … Read more
Transaction Represents Largest Energy Deal in U.S. History. BROWNSVILLE, Texas, March 10, 2026 /PRNewswire/ — America First Refining announced a historic milestone in U.S. energy production: the construction of the first new oil refinery built in the United States in 50 years. Made possible through the leadership of President Donald J. Trump and the … Read more
By America Hernandez and Alex Lawler IEA agrees to release record amount of oil in response to crisis Trump indicates he supports the IEA move Oil prices rise on concerns that move will not be enough PARIS/LONDON, March 11 (Reuters) – The International Energy Agency on Wednesday agreed to release 400 million barrels of oil, … Read more
The national average retail price of gasoline crossed $3.50 a gallon this week to hit its highest since May 2024, data from price tracking services AAA and GasBuddy showed, as the Israel-U.S. war with Iran stokes supply concerns. Disruptions to Middle Eastern oil exports through the Strait of Hormuz have caused a surge in fuel … Read more
By Priscila Azevedo Rocha, Sing Yee Ong, and Stephen Stapczynski A tense global hunt for liquefied natural gas sparked by the war in the Middle East is starting to shift physical supply flows, as more shipments bound for Europe are diverting to Asia. At least nine cargoes initially headed to Europe have changed course to … Read more
Rail shipments remain an option for transporting more oil By Laura Dhillon Kane and Robert Tuttle Canada is “urgently exploring options” with provinces and the energy industry to boost oil supply, as trade disruptions caused by war in the Middle East spur huge volatility in global crude markets. The country is looking at ways to … Read more
By Kate Abnett and Charlotte Van Campenhout EU drafting proposals to relieve industries from high energy costs Gas price cap divides EU governments, similar to 2022 energy crisis Von der Leyen warns against returning to Russian energy sources BRUSSELS, March 11 (Reuters) – The European Union is considering measures to curb energy prices, including by … Read more
By Alex Lawler Saudi Arabia increased production as contingency for Iran attack disruption, sources said OPEC says geopolitical developments need close monitoring, no forecast changes yet IEA to update oil forecasts on Thursday LONDON, March 11 (Reuters) – OPEC said on Wednesday that Saudi Arabia sharply increased oil production in February ahead of U.S. and … Read more
By Mike Dolan LONDON, March 11 (Reuters) – U.S. stock market indexes have weathered this month’s oil shock well so far because investors expect only a glancing overall GDP hit from higher energy costs. But that resilience masks a potentially toxic shift of income from households to “Big Energy” – and packs big risks in … Read more
By Ron Bousso LONDON, March 11 (Reuters) – The economic risks of the world’s heavy dependence on oil and gas have been laid bare twice in four years – first with Russia’s invasion of Ukraine and now with the U.S.-Israeli war on Iran – undermining U.S. President Donald Trump’s flagship push to double down on … Read more
Lack of attractive projects for sale keeps deal activity outside the U.S. and Canada at $18B, even as Latin America heats up CALGARY, Alberta (Mar. 11, 2026) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the leading energy data analytics platform, has released an International M&A Review examining how global resource scarcity is reshaping upstream … Read more
Shell, the world’s largest liquefied natural gas trader, has declared force majeure on LNG cargoes it buys from QatarEnergy and sells to its clients worldwide, three sources told Reuters on Wednesday. Qatar, the world’s second-largest exporter of LNG, announced a production halt at its 77 million tons per annum (mtpa) facility last week and declared … Read more
HOUSTON–(BUSINESS WIRE)–SLB (NYSE: SLB) continues to closely monitor the unfolding situation in the Middle East and adapt its operations. The safety and security of SLB’s employees is the highest priority, and the company has activated local and regional crisis response teams that are meeting daily. Travel to and transit through the region have been suspended, … Read more
(Reuters) – U.S. President Donald Trump plans to invoke emergency law for Sable Offshore as it looks to restart production from a cluster of offshore platforms in California, Bloomberg News reported on Wednesday, citing a person familiar with the matter. Shares of Sable rose 16.3% to $16.75 in afternoon trading. Trump is preparing to summon … Read more
By Ron Bousso LONDON, March 11 (Reuters) – The International Energy Agency’s plan to release 400 million barrels of oil reserves is unprecedented in scale and desperately needed to blunt the devastating supply shock triggered by the Iran war. But it will offer only limited relief as long as energy exports from the Middle East … Read more
Summary WSJ reports IEA proposed largest-ever release of oil reserves France to host G7 leaders call on Wednesday U.S. crude, gasoline and distillate stocks fell last week March 11 (Reuters) – Oil prices rebounded on Wednesday as markets doubted whether the International Energy Agency’s reported plan for a record release of oil reserves could offset … Read more
(Reuters) – G7 energy ministers will discuss how to tackle soaring energy prices due to the war in Iran on a call on Tuesday while a group of European Union leaders will do so later in the day, officials said. Oil prices surged to $119 a barrel on Monday, their highest levels in almost four … Read more
(Reuters) – The Pentagon is looking at ways to escort ships safely through the Strait of Hormuz, U.S. Chairman of the Joint Chiefs of Staff General Dan Caine said on Tuesday. About a fifth of global oil and liquefied natural gas normally passes through the strait but Iran, which lies on its northern coast, has … Read more
The International Energy Agency has proposed the largest release of oil reserves in its history to bring down crude prices that have soared due to the U.S.-Israel war with Iran, the Wall Street Journal reported on Tuesday, citing officials familiar with the matter. The release would exceed the 182 million barrels of oil that IEA … Read more
(Reuters) – LNG Canada, a Shell-led venture, has ramped up production and exports to Asia this month, LSEG data show, as the Iran war threatens Asian natural gas supplies which are particularly vulnerable to global disruptions. The LNG project in Kitimat, British Columbia, which began operations in June 2025, has exported five cargoes in the … Read more
(Reuters) – U.S. natural gas output will rise to a record high in 2026, while demand will decline, the U.S. Energy Information Administration said in its short-term energy outlook on Tuesday. EIA projected dry gas production will rise from a record 107.7 billion cubic feet per day (bcfd) in 2025 to 109.5 bcfd in 2026 … Read more
By Julian Hast US natural gas futures fell for a second day as weather forecasts shifted warmer, indicating lower demand for the heating and power-plant fuel. Declines in European natural gas and oil prices as US President Donald Trump late Monday predicted a swift end to the Middle East war have also put downward pressure … Read more
By Howard Schneider Gas prices rise, stocks volatile amid US-Iran conflict Lower-income households may cut spending, affecting businesses Fed faces challenge balancing inflation and growth amid conflict WASHINGTON, March 10 (Reuters) – Rising gasoline prices and a wobbly stock market are increasing the risk the U.S.-Israeli war on Iran could hit hard among consumers across … Read more
By Georgina Mccartney, Arathy Somasekhar and Siddharth Cavale HOUSTON, March 10 (Reuters) – Brent oil prices are set to trade above $95 a barrel over the next two months as the Iran war disrupts supplies, before falling to around $70 by the end of the year, the Energy Information Administration said on Tuesday in a … Read more
Asia faces greatest exposure. Loss of 10+ Bcf per day highlights limited supply elasticity CALGARY, Alberta (Mar. 10, 2026) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the leading energy data analytics platform, is releasing a new analysis examining the global natural gas market implications of a full shutdown of Qatari liquefied natural gas (LNG) … Read more
Iran’s Revolutionary Guards said on Tuesday they would not allow “one litre of oil” to be shipped from the Middle East if U.S. and Israeli attacks continue, prompting a warning from President Donald Trump that the U.S. would hit Iran much harder if it blocked exports from the vital energy-producing region. The heightened rhetoric did … Read more
Summary Aramco CEO: Hormuz disruption is the industry’s “biggest crisis” Oil shipments from Gulf largely blocked Aramco East-West pipeline to reach capacity in days (Reuters) – Saudi Arabia’s Aramco, the world’s top oil exporter, said on Tuesday there would be “catastrophic consequences” for the world’s oil markets if the Iran war continues to disrupt shipping in … Read more
(Reuters) – U.S. President Donald Trump is expected to review as early as Monday a set of options to tame oil prices, which have soared to the highest level since 2022 because of the expanding U.S.-Israel war with Iran. It is uncertain how much of an impact U.S. policy changes could have on oil prices, … Read more
By Gavin Maguire LITTLETON, Colorado, March 9 (Reuters) – The sudden stoppage of LNG exports from Qatar – the world’s second-largest exporter in 2025 – has sent natural gas prices soaring by 50% from year-ago levels across Europe and Asia and has prompted panicked buyers to seek out replacement cargoes. However, a shortage of available … Read more
By Jarrett Renshaw Trump weighs steps to ease oil prices Options include Russia sanctions relief, G7 oil reserve release Strait of Hormuz disruptions limit immediate impact March 9 (Reuters) – U.S. President Donald Trump is considering easing oil sanctions on Russia and releasing emergency crude stockpiles as part of a package of options aimed at … Read more
(Reuters) – Investors are now seriously considering the possibility that war in the Middle East could create a stagflationary shock, just as it did 50 years ago, when disruption to global energy supplies sent inflation surging, and battered growth “The risk of a 1970s scenario is rising,” said Kaspar Hense, portfolio manager at RBC BlueBay … Read more
(Reuters) – International oil majors Chevron and Shell are closing in on the first big oil production deals with Venezuela since the U.S. capture of President Nicolas Maduro in January, five sources close to the negotiations told Reuters. The deals would allow both companies to boost production in coveted oil regions in the South American … Read more
Summary Oil prices fall after topping $119 a barrel on Monday Trump predicted the war in the Middle East could be over soon G7 ready to act on oil surge but holds off tapping reserves (Reuters) – Oil prices plummeted 7% on Tuesday after soaring to a more than three-year high in the previous session … Read more
Summary Exxon is latest high-profile company moving to Texas for business-friendly environment New Jersey sued Exxon and others over climate change; suit dismissed Incorporation in Texas may aid Exxon in policy matters, says law professor (Reuters) – Exxon Mobil is seeking to abandon its corporate registration in New Jersey and redomicile in Texas where its headquarters is located, the U.S. … Read more
By Liz Hampton PLATTEVILLE, Colorado, March 9 (Reuters) – The U.S. is considering coordinating sales of oil from the U.S. Strategic Petroleum Reserve with releases from other countries as prices soar during the war on Iran, Energy Secretary Chris Wright said on Monday. Wright also said the U.S. has “some other options” on allowing more … Read more
(Reuters) – There was broad agreement among the Group of Seven finance ministers on Monday not to release strategic oil reserves just yet, a G7 official said. G7 finance ministers held a teleconference earlier on Monday to discuss a response to the overnight surge in oil prices caused by the U.S.-Israeli war on Iran. They … Read more
(Reuters) – U.S. President Donald Trump is expected to review as early as Monday a set of options to tame oil prices, which have spiked to more than $100 a barrel due to the Iran war, according to two people familiar with the matter. The effort reflects White House worries that the surge in oil … Read more
(Reuters) – Russian President Vladimir Putin said on Monday that the Iran war had triggered a global energy crisis and cautioned that oil production dependent on transport through the Strait of Hormuz could soon come to a complete halt. Putin, though, signalled again that Russia was ready to supply oil and gas to Europe. Russia … Read more
By Salma El Wardany and Stephen Stapczynski QatarEnergy is pushing back the start of a major liquefied natural gas expansion project to at least 2027 after a drone attack last week that forced the unprecedented closure of its Ras Laffan plant. Production from the North Field East facility will now target its first export early … Read more
By America Hernandez PARIS, March 9 (Reuters) – The Group of Seven countries are considering releasing emergency oil stocks to address the Middle Eastern supply crisis, the International Energy Agency said on Monday, as oil prices surged to as high as almost $120 per barrel. IEA member countries that are net oil importers are required … Read more
(Reuters) – Saudi oil giant Aramco has begun cutting output at two of its oilfields, two sources said on Monday, after the vital Strait of Hormuz was choked by the U.S.-Israeli war on Iran and subsequent attacks on the waterway. It was not immediately clear at which fields and by how much production was being … Read more
Oil prices have soared while share markets have skidded on fears that the escalating U.S.-Israeli war on Iran will squeeze energy supplies and hamstring industries around the world. Following are actions that governments are taking or plan to take to reduce the impact of the war on their economies. SOUTH KOREA PLANS FUEL CAP South … Read more
A look at the day ahead in European and global markets from Wayne Cole. OK, so this is shaping up as a proper global energy shock, like the 1970’s version. Though it is unique in being by choice, or at least the choice of one man. Brent cleared $100 at the open and never looked … Read more
Jamie McGeever (Reuters) – Oil prices surged 30% last week and swathes of global stocks sold off as war in the Middle East escalated, yet an air of complacency hung over Wall Street. Investors have likely been betting that the turmoil will have a short-lived, mild economic impact, much like most crises in the recent past. Is … Read more
Summary Brent, WTI hit highest levels since July 2022 Brent jumps as much as 29%, WTI surges up to 31% Iraq, Kuwait cut oil output Iran names hardliner Mojtaba Khamenei as new supreme leader (Reuters) – Oil prices surged over $119 a barrel, hitting levels not seen since mid-2022, on Monday as some major … Read more
Mounting miscalculations and a retreat to narrow self-interest by major countries, including the United States and China, are threatening to turn the current conflict in Iran into a global crisis for the supply of refined oil products. Much of the media focus tends to be on the price of crude oil, with benchmark Brent crude … Read more
Ron Wallace and Tammy Nemeth “Investors can’t ignore the commercial constraints imposed by the MoU. My concern is that the MoU does not address the key federal barriers that preclude a free-market approach to the energy industry. Key federal barriers have become conditional, reversible, or deferred.” Bryan Gould, Executive Chairman Aspenleaf Energy. As … Read more
Iraqi oil production from its main southern oilfields has fallen by 70% to just 1.3 million barrels per day as the country is unable to export oil via the Strait of Hormuz due to the Iran war, three industry sources said on Sunday. Production from the fields stood at around 4.3 million bpd before the … Read more
Trump administration officials on Sunday defended a decision to temporarily lift some sanctions on Russian oil and predicted that a sharp increase in gasoline prices resulting from the Iran war would last only weeks. Appearing on multiple TV talk shows, Energy Secretary Chris Wright and U.S. Ambassador to the United Nations Mike Waltz said a … Read more
(Reuters) – U.S. crude futures rose more than 20% in early trade on Monday, hitting their highest since July 2022, as the expanding U.S.-Israeli war with Iran fuelled fears of tighter supply and prolonged disruptions to shipments through the Strait of Hormuz. U.S. West Texas Intermediate (WTI) crude futures gained as much as $20.34 a … Read more
Goldman Sachs said oil prices are likely to exceed $100 per barrel next week if no signs of a solution emerge to the severe disruption in flows through the Strait of Hormuz, warning that upside risks to its base-case forecast are rapidly growing further. The bank said it plans to revisit its oil price forecast … Read more
The White House is asking federal agencies to step up efforts to address soaring energy prices from the Iran conflict, signaling a concern that steps taken so far may not be enough, according to two people familiar with the matter. Senior officials have asked the departments of Energy, Transportation and Treasury and the Environmental Protection … Read more
The war with Iran could leave consumers and businesses worldwide facing weeks or months of higher fuel prices even if the week-old conflict ends quickly, as suppliers grapple with damaged facilities, disrupted logistics, and elevated risks to shipping. The outlook poses a wider global economic threat, as well as a political vulnerability for U.S. President … Read more
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(Reuters) – Treasury Secretary Scott Bessent on Friday said the United States could remove sanctions from more Russian oil, a day after Washington issued a 30-day waiver allowing the sale of Russian crude currently stranded at sea to continue to India. “We may unsanction other Russian oil,” Bessent told Fox Business’ “Kudlow” program. “There are … Read more
(Reuters) – Barclays said on Friday that Brent crude could potentially test $120 a barrel if the Middle East conflict persists for another couple of weeks. “These numbers might seem too high, especially given widespread pessimism about the oil market outlook heading into this year, but we reiterate that fundamentals are stronger and risks are … Read more
(Reuters) – Venezuela this month resumed exports of a key crude grade that had not been shipped since late 2024, diluted crude oil (DCO), with U.S. Chevron sending a 500,000-barrel cargo to the U.S. Gulf Coast, a document from state energy company PDVSA seen on Friday showed. The grade, produced from a blend of extra … Read more
(Reuters) – The anticipated construction cost for two phases of Venture Global’s CP2 LNG liquified natural gas project has jumped by $4 billion, or just under 14%, the company said in an annual report released earlier this week. It cited design modifications, inflation and the potential impact of tariffs imposed by U.S. President Donald Trump, … Read more
(Reuters) – The sudden and acute disruption to Middle East oil supplies caused by the U.S.-Israeli war with Iran is forcing buyers to tap every available barrel, rapidly dismantling forecasts of an oil glut this year. In February, the International Energy Agency forecast that global oil supply would exceed demand by around 3.7 million barrels … Read more
(Reuters) – QatarEnergy is offering 10 liquefied natural gas tankers for lease, two industry sources told Reuters, after the world’s second-largest LNG exporter announced a production halt at its 77 million ton per annum (mtpa) facility and shipping rates soared, as the U.S.-Iran conflict heads into its second week. Qatari Energy Minister Saad al-Kaabi told … Read more
Summary WTI hits level last seen in September 2023 Brent trades at $90 per barrel for first time since April 2024 Trump says he is unconcerned about rising gasoline prices Qatar’s energy minister says oil could reach $150 a barrel (Reuters) – U.S. crude oil futures climbed more than $10 on Friday, but remained under … Read more
By Justin Fox Oil prices are up 15% since the US and Israel began attacking Iran last weekend, and gasoline prices have been following not too far behind. In a big-picture economic sense, this matters a lot less than it used to. The oil intensity of gross domestic product is down about 70% in the … Read more
Gas producer says it will take ‘weeks to months’ to restore deliveries after Iranian drone strike By Andrew England and Malcolm Moore ORIGINAL: financialpost.com/financial-times/qatar-war-gulf-stop-energy-exports Qatar’s energy minister has warned that war in the Middle East could “bring down the economies of the world”, predicting that all Gulf energy exporters would shut down production within days … Read more
By Liam Denning Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column. Takeaways by Bloomberg AI The US has switched from being an effective underwriter of global energy security to disrupter, with President Donald Trump’s … Read more
(Reuters) – President Donald Trump said on Thursday he was not concerned about rising U.S. gas prices driven by the widening Iran conflict, telling Reuters in an exclusive interview that the U.S. military operation was his priority. “I don’t have any concern about it,” he said, when asked about the higher prices at the pump. … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for the first time in four weeks, 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, rose by one to 551 in the week to March … Read more
Summary Brent, WTI trade at highest levels since 2024 Trump says he is unconcerned about rising gasoline prices Qatar’s energy minister says oil could reach $150 a barrel (Reuters) – Crude oil was set on Friday for its strongest weekly gain since the extreme volatility of the COVID‑19 pandemic in spring 2020, as conflict in … Read more
(Reuters) – More tankers came under attack in Gulf waters on Thursday as the U.S.–Iran war escalated, and Iranian drones entered Azerbaijan, threatening to spread the crisis to more oil producers in the region. A Bahamas-flagged crude oil tanker was targeted by an Iranian remote-controlled boat laden with explosives while anchored near Iraq’s Khor al … Read more
(Reuters) – The U.S. Treasury Department is expected to announce measures as soon as Thursday aimed at combating rising energy prices, including potential action involving the oil futures market, a senior White House official said. The potential move would mark an unusual attempt by Washington to influence energy prices through financial markets, rather than physical … Read more
(Reuters) – U.S. President Donald Trump told Reuters on Thursday that he wants the United States to play a role in choosing Iran’s next leader and encouraged Kurdish opposition groups to go on the offensive. Trump said in a telephone interview it was very early in the process of picking a new leader but that … Read more
(Reuters) – A temporary surge in oil prices to $100 per barrel could slow global growth by 0.4 percentage point, Goldman Sachs analysts said on Thursday, as a widening conflict in Iran chokes off vital Middle East oil and gas flows. Under its baseline forecast, Goldman expects oil prices to increase a bit further before … Read more
Being the world’s No. 1 driller isn’t enough to shield the country from the effects of the war. By Will Kubzansky The Iran war may be happening on the other side of the world, but US consumers are already starting to see the effects. Average gasoline prices jumped to $3.25 a gallon on Wednesday, according … Read more
By Anna Hirtenstein, Andrew Mills and Jonathan Saul Iran’s drone production capacity is around 10,000 per month Iran’s missile stockpile estimates vary widely, affecting conflict duration Sea mines could prolong disruption in the Strait of Hormuz Drone attacks have penetrated Gulf states’ air defences March 4 (Reuters) – Iranian drone attacks could disrupt the Strait … Read more
LITTLETON, Colorado, March 5 (Reuters) – The repercussions of the ongoing U.S.-Iran war are being felt across the world, with U.S. fuel prices, European natural gas costs and Asian tanker freight rates all jumping sharply since strikes began at the weekend. The transmission of market jitters through the shipping, fuel and power sectors illustrates how … Read more
LAUNCESTON, Australia, March 5 (Reuters) – The explosion in jet fuel prices in Asia is an early indicator that the economic pain of the war in the Middle East is about to become reality for energy consumers. Jet fuel prices in Asia’s trading hub Singapore rocketed 72% to $225.44 a barrel on Wednesday, a record … Read more
By Nora Buli Europe’s gas storage at 5-year low Refilling will require extra 180 LNG cargoes y/y Iran conflict cuts supply, lift prices European benchmark gas at highest since early 2023 OSLO, March 5 (Reuters) – Europe’s already huge task of refilling gas storage for next winter has suddenly become far riskier and far more … Read more
(Reuters) – India is in talks with the United States to secure marine cover for vessels shipping oil from the Middle East, as New Delhi seeks to shield buyers from potential supply disruptions caused by the crisis in the Gulf, a government official said on Thursday. “So far we are comfortable,” the official, who did … Read more
Reuters Average U.S. retail diesel prices surpassed $4 a gallon for the first time in nearly two years on Wednesday and are set to rise further later in the week as the U.S.-Israel conflict with Iran dragged on, threatening to hit consumers with sticker shocks on everything from food to furniture. Prices for diesel, used … Read more
By Ron Bousso U.S. President Donald Trump’s current plan to revive shipping through the Strait of Hormuz via financial guarantees and security assistance will require a Herculean international effort. Even if successful, it will likely offer only limited relief as time quickly runs out to avert the worst global economic fallout from the closure of … Read more
(Reuters) – U.S. crude stocks rose to their highest level since May 2025 last week, the Energy Information Administration said on Wednesday, as exports and imports declined. Crude inventories rose by 3.5 million barrels to 439.3 million barrels in the week ended February 27, the EIA said, compared with analysts’ expectations in a Reuters poll … Read more
(Reuters) – U.S. Treasury Secretary Scott Bessent said on Wednesday that crude oil markets are well supplied amid the U.S.-Israeli war in Iran, and that the U.S. plans to make a series of additional announcements on the issue. “The crude markets are very well supplied. There are hundreds of millions of barrels on the water … Read more
Prices for heavy crude produced in the Americas surged to multi-year highs on Wednesday, as the U.S.-Israeli attacks on Iran stymied exports of similar oil produced in the Middle East. Benchmark crude oil prices have surged since the initial attacks last week, with Brent crude at its highest levels since January 2025. Iran has threatened … Read more
Summary Iran launches wave of missiles at Israel US Senate blocks measure to halt American air assault Traffic through Strait of Hormuz remains halted, production cuts widen (Reuters) – Oil prices rose on Thursday, extending a rally as the escalating U.S.-Israeli war with Iran disrupted supplies and shipping, prompting some major producers to cut output and others … Read more
(Reuters) – Oil and gas drillers failed to show up at the Trump administration’s sale of more than 1 million acres (404,686 hectares) in Alaska’s Cook Inlet on Wednesday, declining to submit even a single bid. The sale was the first of six Alaska offshore oil and gas auctions mandated through 2032 by U.S. President … Read more
(Reuters) – Insurance broker Marsh McLennan said on Wednesday it had met with U.S. officials to explore solutions for restoring maritime trade amid escalating fighting in the Middle East, as attacks in the region threaten energy shipments through the Strait of Hormuz. The waterway, a critical chokepoint between Iran and Oman, carries about a fifth … Read more
(Reuters) – Russian President Vladimir Putin suggested on Wednesday that Russia could stop supplying gas to European markets now and move to more promising markets. The European Commission will submit a legal proposal to permanently ban Russian oil imports on April 15, three days after Hungary’s parliamentary election, according to EU officials and a document … Read more
(Reuters) – Qatar will fully shut down gas liquefaction on Wednesday and won’t be able to return to normal production and export levels of super-chilled gas for at least a month, two sources familiar with the matter said. Qatar Energy, which stopped producing gas this week and declared force majeure on exports on Wednesday, did … Read more
(Reuters) – QatarEnergy has declared force majeure on shipments of liquefied natural gas, it said in a statement on Wednesday, after attacks on its production facilities amid the U.S.-Israeli war on Iran. The state-owned company said on Monday it was halting production of LNG and associated products due to attacks on facilities in the Ras … Read more
(Reuters) – Oil prices are expected to remain elevated in the near term as traders weigh the risk of supply disruptions through the Strait of Hormuz, a chokepoint for more than 20% of global oil supply, amid the widening Middle East conflict. Israeli and U.S. strikes on Iranian targets have led to attacks across the … Read more
(Reuters) – Operatives from Iran’s Ministry of Intelligence signalled openness to the U.S. Central Intelligence Agency (CIA) to talks on ending the war, the New York Times reported on Wednesday, citing officials briefed on the matter. The offer was made through an unnamed country’s spy agency, the NYT said, citing Middle Eastern officials and officials … Read more
Combination will bring intelligence and automation from CapEx strategy to engineering execution AUSTIN, Texas (Mar. 4, 2026) — Enverus, the leading energy data analytics platform, announced today that it has entered into a definitive agreement to acquire Spatial Business Systems (SBS), an AI-enabled intelligent design automation platform for electric and gas utilities, telecommunications providers, and engineering teams. To … Read more
The U.S.–Iran war widened on Wednesday after a U.S. strike hit an Iranian warship off Sri Lanka, deepening a crisis that has paralysed shipping through the Strait of Hormuz for a fifth day and choked off vital Middle East oil and gas flows. The U.S. submarine strike on the Iranian vessel came as U.S. President … Read more
March 4 (Reuters) – Goldman Sachs raised on Wednesday its second-quarter 2026 average price forecast for Brent crude oil by $10 to $76 per barrel and for WTI by $9 to $71. These forecasts assume that low oil flows via the Strait of Hormuz will lead to large declines in OECD inventories and Middle East … Read more
Summary US LNG plants running near full capacity, limiting the potential for output increase amid Qatar disruptions Venture Global has the most flexibility, with higher percentage of spot market sales Golden Pass LNG project is set to begin production this month but will take time to ramp up (Reuters) – The U.S. has little spare … Read more
A proposed deepwater oil project off the Canadian east coast reached a key milestone Tuesday as the Newfoundland and Labrador government signed an agreement with Equinor on how to divvy up the development’s anticipated rewards. Premier Tony Wakeham received several standing ovations as he unveiled the benefits agreement for the Bay du Nord project at … Read more
Industrial facilities that handle flammable and toxic gases face an ongoing risk of leaks that can escalate into fires, explosions, environmental impacts, and catastrophic loss. Process industries, including oil and gas, petrochemicals, and power generation, must therefore implement robust gas safety systems that not only detect leaks early but also deliver actionable alerts and mitigate risk. A layered gas detection strategy has emerged as … Read more
Summary Geopolitical factors remain near-term key driver, analyst says US crude stocks up 5.6 million barrels last week, sources say (Reuters) – Oil prices rose about 1% on Wednesday as U.S.-Israeli strikes on Iran disrupted Middle East supplies, but the pace of gains slowed from past sessions after President Donald Trump suggested the U.S. Navy could … Read more
(Reuters) – President Donald Trump said on Tuesday he had ordered the United States Development Finance Corporation to provide insurance and guarantees for the financial security of all maritime trade, including oil tankers, traveling through the Gulf region. He made the comments in a Truth Social post. Reporting by Bhargav Acharya and Ryan Patrick Jones … Read more
By Niccolo Conte | Graphics/Design: Anna Diederichs Key Takeaways China receives 37.7% of all oil exports that pass through the Strait of Hormuz, the most of any country. Asian countries are most affected by a closure of the strait, receiving 89.2% of the Strait’s crude oil and condensate flows. The Strait of Hormuz is one … Read more
Investors rushed to lock in a spike in oil prices this week, resulting in a record volume of energy futures and options contracts changing hands on Monday, the first trading day after Israel and the U.S.bombed Iran and Tehran retaliated. Hedging provides traders with opportunities to profit in times of volatility, and can help producers … Read more
Summary Trump hosts tech leaders to pledge to shield consumers from energy price spikes Effort aims to ease voter concerns over higher electricity bills Companies expected to commit to efficiency and dedicated power March 4 (Reuters) – U.S. President Donald Trump is set to meet on Wednesday with leaders of major technology companies, including Google, … Read more
(Reuters) – Venezuela’s oil exports fell 6.5% in February from a month earlier to some 737,000 barrels per day as more shipments to the United States and Europe could not fully offset the loss of what used to be the OPEC country’s main market, China, according to vessel monitoring data and documents from state company … Read more
(Reuters) – President Donald Trump will review a set of policy options on Tuesday aimed at controlling energy prices during the escalating Middle East conflict, including a proposal for the U.S. government to help oil tankers in the region obtain insurance, two sources said. Global crude prices have spiked since Israeli and U.S. forces began … Read more
(Reuters) – Iraq has cut oil production by nearly 1.5 million barrels a day and those cuts could widen to more than 3 million bpd within days as the country runs out of storage and cannot export crude due to the Iran crisis, two Iraqi oil officials told Reuters on Tuesday. As of Tuesday, Iraq … Read more
(Reuters) – China is the world’s largest energy importer and would therefore appear vulnerable to the surge in crude oil and natural gas prices from the conflict between Israel and the United States against Iran. But the opposite is most likely the case, with China’s vast stockpile of crude a cushion against price spikes, meaning … Read more
(Reuters) – Saudi oil giant Aramco is attempting to reroute some of its crude exports to the Red Sea to bypass the Strait of Hormuz where the risk of attacks has slowed shipping to a near halt, sources said on Tuesday. The world’s largest oil firm hopes to avert production cuts by rerouting oil to … Read more
(Reuters) – U.S. natural gas futures jumped about 6% to a two-week high on Tuesday on soaring oil and gas prices around the world as the U.S.-Israeli war against Iran widened across the Middle East region, disrupting the movement of energy supplies. Front-month gas futures for April delivery on the New York Mercantile Exchange rose … Read more
So far, excess supplies elsewhere have helped limit the oil price surge Oil surged for a second day as the United States and Israel stepped up their war against Iran, with the sprawling conflict’s impact on energy assets in the Persian Gulf continuing to grow. Saudi Arabia is exploring the option of delivering more barrels … Read more
Saudi Arabia produces about 10 million barrels a day of crude, with exports rising to about 7.2 million a day last month By Serene Cheong, Yongchang Chin, Salma El Wardany and Rakesh Sharma Saudi Aramco is exploring the option of delivering more cargoes to Yanbu, a port on the Red Sea that’s situated outside the … Read more
CALGARY, Alberta (Mar. 3, 2026) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the leading energy data analytics platform, has released a new analysis examining the energy market implications of U.S. military strikes on Iran, warning that risks to oil and liquefied natural gas (LNG) supply chains have increased meaningfully and could drive sharp price … Read more
Reuters If the Strait of Hormuz were completely blocked, causing supply to fall by 20%, the oil price would likely rise to over $100 per barrel, Commerzbank said in a note on Tuesday. The bank also added that a prolonged conflict could lead to supply difficulties and bottlenecks for aluminium, with a corresponding impact on … Read more
(Reuters) – Higher oil prices due to the Iran war are increasing prices of jet fuel, which accounts for a big portion of airlines’ costs. Brent crude oil rose above $80 per barrel on Tuesday on worries about disrupted supply. Some airlines use futures and options to hedge against price increases. They also try to hedge against value changes in … Read more
Summary Hormuz shut for fourth day, five tankers hit Qatar shuts gas output, Saudi refinery stops US gasoline prices rise above $3/gallon Bessent, Wright to announce US plans to mitigate oil spike (Reuters) – Global oil and gas prices jumped on Tuesday as the U.S.-Israeli war on Iran halted energy exports from the Middle East, … Read more
Summary Brent and WTI benchmarks gain more than $4 Vessels avoid Strait of Hormuz as freight rates soar Crude prices to remain elevated over coming days, say analysts (Reuters) – Crude oil benchmarks rose about 8% on Tuesday, soaring for a third session as the U.S.-Israeli conflict with Iran widens, disrupting fuel shipments and heightening … Read more
India, a fast-growing oil consumer, is the country most vulnerable to crude supply shocks if the Middle East conflict leads to a prolonged disruption in shipments from the region, mainly because of its thin reserves, analysts said. Both China and India, Asia’s top energy consumers, source around half of their crude imports from the Middle … Read more
Abel emphasizes trust, Berkshire values Analysts say Abel struck the right tone Berkshire reports declining profit for Q4, 2025 (Reuters) – Berkshire Hathaway’s new Chief Executive Greg Abel moved to put his stamp on the conglomerate with his first annual letter to shareholders on Saturday, pledging to maintain its “fortress-like” balance sheet and uphold the … Read more
By Gabriel Cohen | Article/Editing: Niccolo Conte | Graphics/Design: Miranda Smith Key Takeaways Hong Kong ranks first with total debt equal to 380% of GDP, followed by Japan at 372% The U.S. ranks seventh at 264%, led by government debt (123%) and corporate debt (73%) How indebted is your country today? Based on the latest … Read more
Reuters U.S. exports of liquefied natural gas rose more than 17% last month from a year earlier as Venture Global’s Plaquemines plant in Louisiana ramped up production and Cheniere brought on more units at its Corpus Christi facility, preliminary data from financial firm LSEG showed. The U.S. is the world’s largest LNG exporter, and there … Read more
(Reuters) – Iran’s Revolutionary Guards said a fuel tanker was burning in the Strait of Hormuz after being hit by two drones, Iranian news agencies reported on Monday. The strait is the world’s most vital oil export route, connecting the biggest Gulf oil producers, such as Saudi Arabia, Iran, Iraq and the United Arab Emirates, … Read more
(Reuters) – While the U.S. has no plans yet to sell oil from the Strategic Petroleum Reserve, the world’s largest emergency oil stockpile, presidents have long tapped it during times of crisis in attempts to control fuel prices for U.S. consumers. The administration of President Donald Trump is not currently discussing selling oil from the … Read more
(Reuters) – Selling oil from the U.S. Strategic Petroleum Reserve after the U.S. and Israeli attacks on Iran is ‘not currently being discussed’, a U.S. source said on Monday. “Oil markets remain well supplied”, the source said. The SPR, held on the coasts of Louisiana and Texas, is the world’s largest emergency oil stockpile, currently … Read more
(Reuters) – The insurance cost of shipping goods through the Middle East Gulf has surged as much as five times in the past 48 hours since the U.S. and Israeli began airstrikes on Iran, with most underwriters not offering cover for any sailings through the Strait of Hormuz, insurance industry sources said on Monday. War … Read more
QatarEnergy has stopped production of liquefied natural gas (LNG) and related products following military attacks on its operating facilities in Ras Laffan Industrial City and Mesaieed Industrial City, the company said on Monday. The state-owned energy firm did not provide details on the extent of the damage or how long the suspension would last. QatarEnergy … Read more
(Reuters) – Insurance companies are cancelling war risk coverage for vessels in the Gulf as the widening Iran conflict disrupted shipping, leaving at least four tankers damaged, a seafarer killed and 150 ships stranded around the Strait of Hormuz. Shipping through the strait between Iran and Oman, which carries around one fifth of oil consumed … Read more
Venture Global said on Monday its adjusted core profit nearly tripled in the fourth quarter, due to higher LNG sales volumes at the Plaquemines Project in Louisiana, sending its shares up nearly 9% in premarket trading. In 2025, the U.S. became the first country to export more than 100 million metric tons (mmt) of liquefied … Read more
Clyde Russell (Reuters) – The OPEC+ decision to lift crude oil output by 206,000 barrels per day (bpd) from April is probably the least consequential decision the group has made in nearly a decade of existence. Adding about 0.2% of global oil demand to supply a month from now is little more than a symbolic … Read more
Summary OPEC+ agrees to raise output by 206,000 bpd US attacks on Iran kill Khamenei, Gulf oil flows disrupted Saudi Arabia and UAE have already raised exports, sources say OPEC has little spare production capacity, analysts say Hormuz needs to reopen for oil to reach markets, analysts say (Reuters) – OPEC+ agreed a modest oil … Read more
Summary South Bow’s plan to revive KXL needs additional links in US Proposal leverages existing infrastructure in Canada Environmental, Indigenous opposition likely for South Bow’s pipeline expansion (Reuters) – A proposal led by Canadian company South Bow to revive parts of the cancelled Keystone XL oil pipeline could increase Canada’s crude exports to the U.S. … Read more
(Reuters) – U.S. average retail gasoline prices are set to break above $3 a gallon on Monday for the first time in more than three months as the conflict between the United States and major oil producer Iran interrupts global oil flows, analysts said. That’s potentially a major risk for President Donald Trump and his Republican Party … Read more
At least three tankers were damaged off the Gulf coast after U.S. and Israeli strikes on Iran triggered Iranian retaliation that put merchant ships at risk of collateral damage, shipping sources and officials said on Sunday. Risks to commercial shipping have surged in the past 24 hours, with more than 200 vessels including oil and … Read more
Summary Oil rises as much as 13%, but less than some analysts expected Israel hits Tehran again after strikes killed Khamenei Hundreds of ships have dropped anchor in Gulf, data shows European gas benchmark rises more than 25% at peak (Reuters) – Oil and natural gas prices surged on Monday as Israeli and U.S. strikeson … Read more
Takeaways by Bloomberg AI The US reported the first Americans killed in a war with Iran as each side pledged escalating strikes in the days ahead. Iran’s retaliation has spread across the region in the wake of massive missile attacks that killed Supreme Leader Ayatollah Ali Khamenei and other senior officials. Oil and other markets … Read more
The U.S. is not considering releasing oil from its strategic petroleum reserve in the aftermath of strikes on Iran, the Financial Times reported on Saturday, citing a Department of Energy official familiar with the matter.There have been “no discussions at all about the SPR,” the official told the FT, when questioned about steps the Trump … Read more
March 1, 2026 Russian President Vladimir Putin on Sunday condemned the killing of Iranian Supreme Leader Ayatollah Ali Khamenei as a “cynical” murder but he offered little in public to Moscow’s ally beyond condolences. Khamenei is the third Russian ally to be toppled in the past 15 months, following the falls of Moscow-backed leaders in … Read more
At least 150 tankers, including crude and LNG vessels, dropped anchor in open Gulf waters beyond the Strait of Hormuz and dozens more were stationary on the other side of the chokepoint, shipping data showed on Sunday, after U.S. and Israeli strikes on Iran plunged the region into turmoil. The tankers were clustered in open … Read more
Brent crude jumped 10% to about $80 a barrel over the counter on Sunday, oil traders said, while analysts predicted that prices could climb as high as $100 after U.S. and Israeli strikes on Iran plunged the Middle East into a new war.“While the military attacks are themselves supportive for oil prices, the key factor … Read more
The United States and Israel launched strikes on Iran on Saturday, targeting its leadership and plunging the Middle East into a new conflict that President Donald Trump said would end a security threat and give Iranians a chance to topple their rulers. The strikes put nearby oil-producing Gulf Arab countries on edge as fears of … Read more
Some oil majors and top trading houses have suspended crude oil and fuel shipments via the Strait of Hormuz amid ongoing U.S. and Israeli attacks on Iran and Tehran’s retaliation, four trading sources said on Saturday “Our ships will stay put for several days,” one top executive at a major trading desk said. (Reporting by … Read more
The United States and Israel launched an attack on Iran on Saturday. The attack could disrupt oil and gas output and cause damage to energy infrastructure in the Middle East. Following are facts on Iran’s energy industry, exports, and the impact of Western sanctions: OIL PRODUCTION AND INFRASTRUCTURE Iran, the third largest producer in the … Read more
The official White House X account released remarks from President Trump early this morning, in regards to the United States combat operations in Iran, which began overnight. The President appears to be seeking regime change in Iran, and said to the Iranian people: “When we are finished, take over your government. It will be yours … Read more
OPEC+ will discuss the possibility of a larger output increase when key members meet on Sunday, after Israel carried out airstrikes on targets in Iran, Bloomberg News reported on Saturday, citing a delegate.
(Reuters) – The United States and Israel launched strikes on Iran on Saturday, targeting its leadership and plunging the Middle East into a new conflict that President Donald Trump said would end a security threat and give Iranians a chance to topple their rulers. The strikes put nearby oil-producing Gulf Arab countries on edge as fears of escalation grew, … Read more
By Timothy Gardner WASHINGTON, Feb 27 (Reuters) – Cheniere Energy Inc (LNG.N) disclosed this week that it got a $370 million tax break from the Trump administration for burning liquefied natural gas in its massive tankers, a credit critics said was meant for far smaller boats. The company said on Thursday in financial disclosures that … Read more
Local media reports strikes are hitting Iran nationwide U.S. and Israel launch an attack on Iran, as U.S. President Donald Trump confirms ‘major combat operations’ are underway. We have launched a live page with all the latest developments. The latest: Trump says U.S. has launched ‘major combat operations’ in Iran. 1st apparent strike hit near … Read more
By Erwin Seba US-Iran talks end with no deal but signs of progress Technical discussions scheduled for Vienna next week Brent and WTI benchmarks trade at multi-month highs UAE, Saudi to increase output in April, sources say HOUSTON, Feb 27 (Reuters) – Oil prices rose about 2% on Friday with traders bracing for supply disruptions … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in six weeks, 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 one to 550 in … Read more
NEW YORK, Feb 27 (Reuters) – U.S. oil production fell for the second consecutive month in December to its lowest level since June last year, while demand reached a multi-month high, the Energy Information Administration said on Friday. Crude oil output averaged 13.66 million barrels per day in December, down about 133,000 bpd from November, … Read more
Feb 27 (Reuters) – Barclays said Brent crude could rise to around $80 per barrel in the event of a material supply disruption, as U.S.-Iran tensions remain elevated. “While it is entirely possible that an escalation does not lead to a supply disruption and the $3-5/b risk premium in oil prices fades quickly, even a … Read more
CALGARY, Alberta, Feb. 27, 2026 (GLOBE NEWSWIRE) — Precision Drilling Corporation (“Precision” or the “Company”) (TSX:PD; NYSE:PDS) today announced that its common shares have been approved for dual listing on NYSE Texas, a fully electronic equities exchange headquartered in Dallas, Texas, which launched in March 2025. Precision will maintain its primary listing on the New York … Read more
(Reuters) – The shale revolution that made the United States the world’s top oil producer is taking shape in the Arabian Desert. Deep in the sands southeast of Saudi Arabia’s giant Ghawar oilfield, state oil company Aramco is pushing ahead with a natural gas megaproject that could boost the kingdom’s revenues by billions of dollars … Read more
Summary Companies Fusion backers hope to generate power in 2030s Technology would produce nuclear power without long-lived radioactive waste US regulator publishes draft rule on fusion energy WASHINGTON, Feb 26 (Reuters) – Fusion energy, an emerging technology that backers hope will one day generate electricity without producing long-lived radioactive waste, got a path toward … Read more
Summary Brent projected to average $63.85 per barrel in 2026 WTI projected to average $60.38 per barrel in 2026 For table of crude price forecasts, click (Reuters) – Supply risks from ongoing geopolitical tensions have prompted analysts to raise their oil price forecasts for the year, despite concerns that an oversupply will continue to weigh … Read more
By Weilun Soon, Serene Cheong, and Nicholas Lua Iran’s main oil export terminal at Kharg Island in the Persian Gulf. Photographer: Fatemeh Bahrami/Getty Images/Anadolu Rising tensions between the US and Iran have already driven oil prices to a six-month high. Oil traders are watching for any escalation that could disrupt crude production in Iran or … Read more
Summary US-Iran talks end with no deal but signs of progress Technical discussions scheduled for Vienna next week OPEC+ to consider oil output increase for April, sources say Oil prices rose more than $1 on Friday as traders remained on alert for potential supply disruptions after the United States and Iran extended nuclear talks. Brent … Read more
By Jack Dura Leaders and attorneys for several Greenpeace entities listen to a reporter’s question after a jury’s verdict at the Morton County Courthouse in Mandan, N.D., Wednesday, March 19, 2025. (AP Photo/Jack Dura) BISMARCK, N.D. (AP) — A North Dakota judge has said he will order Greenpeace to pay damages expected to total $345 … Read more
Sales under a flagship oil supply agreement between Venezuela and the U.S. are expected to reach $2 billion by the end of this month, U.S. Secretary of Energy Chris Wright told reporters in Texas on Thursday. The U.S. took control of Venezuela’s oil exports shortly after U.S. forces captured President Nicolas Maduro in early January, … Read more
Venezuela’s oil ministry has suspended 19 oil production-sharing contracts with private companies signed under the administration of President Nicolas Maduro, four sources with knowledge of the move told Reuters on Thursday. The suspension has had no impact on the country’s oil and gas output so far, the sources said. State oil giant PDVSA is selling … Read more
The Canadian oil-producing province of Alberta forecast a budget deficit of C$9.4 billion ($6.87 billion) for its 2026/27 fiscal year on Thursday, breaking its own rules on allowable deficit financing and blaming lower global crude prices that have walloped the government’s resource revenues. The outlook reflects Alberta’s vulnerability to commodity price fluctuations, prompting the provincial … Read more
Ron Bousso LONDON, Feb 26 (Reuters) – OPEC+ meets on Sunday to set its next production move amid heightened geopolitical friction affecting nearly a third of its output. That volatility may give the group cover to stick to its balanced-market narrative, even if the facts on the ground suggest otherwise. The group, which comprises the Organization of … Read more
(Reuters) – Democrats on the Senate Banking Committee on Tuesday blasted President Donald Trump for failing to ramp up sanctions to pressure Russia to end its four-year war in Ukraine, noting the European Union had designated nearly 900 targets in 2025 compared to just two for the U.S. In an analysis released on the fourth … Read more
(Reuters) – HOUSTON, Feb 25 – U.S. crude and distillate inventories rose while gasoline stocks fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 16 million barrels to 435.8 million barrels in the week ended February 20, the EIA said, compared with analysts’ expectations in a Reuters poll for a … Read more
Bloomberg News President Donald Trump is convening technology executives at the White House next week to sign pledges committing their companies to foot the electricity bill for energy-hungry data centres. Representatives of firms including Amazon.com Inc., Meta Platforms Inc., Microsoft Corp. and Google parent Alphabet Inc. are expected to attend a March 4 event with the president, a White House official said. Others on the invite … Read more
Summary US oil stockpiles rise by the most in three years US-Iran nuclear talks seek to avert military conflict Saudi Arabia boosts oil output (Reuters) – Oil prices fell on Thursday after the biggest jump in U.S. crude inventories in three years, with signs of weakness in the physical oil market also weighing on prices, … Read more
By Emma Sanchez A Tenaris frack set in the Vaca Muerta formation in Argentina, one of the world’s largest shale gas reservoirs. Source: Tenaris US fracking companies are increasingly sending their idle equipment overseas, finding new markets abroad as growth slows in the shale fields of Texas, New Mexico and elsewhere. Over the past two … Read more
(Reuters) – The U.S. Energy Department has offered a $26.54 billion loan to subsidiaries of Southern Co to increase grid reliability, the largest ever such financing by its loan office, the department said on Wednesday. The loans will save power customers in Georgia and Alabama more than $7 billion, the department said, without detailing how. … Read more
(Reuters) – Several countries have begun withdrawing dependents of diplomatic personnel and non-essential staff from some locations in the Middle East, or advising citizens to defer travel to Iran, amid rising tensions between Washington and Tehran. Here are some of the moves: AUSTRALIA: The government has told dependents of Australian diplomats in Israel and Lebanon … Read more
(Reuters) – OPEC+ is likely to consider raising its oil output by 137,000 barrels per day for April, three sources with knowledge of OPEC+ thinking said as the group prepares for peak summer demand and a price boost from tensions between the U.S. and OPEC member Iran. The resumption of output increases after a three-month … Read more
(Reuters) – U.S. crude oil imports from Venezuela rose to their highest since January 2025, the U.S. Energy Information Administration’s (EIA) said on Wednesday. Imports from Venezuela rose by 290,000 barrels per day (bpd) to 339,000 bpd in the week ended February 20, according to data from the EIA’s Petroleum Supply Report. Reporting by Nicole … Read more
(Reuters) – Saudi Arabia is increasing its oil production and exports as part of a contingency plan in case any U.S. strike on Iran disrupts supplies from the Middle East, two sources familiar with the plan said on Wednesday. The Saudi government media office did not immediately respond to a request for comment on the … Read more
CALGARY, Alberta (Feb. 25, 2026) Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy‑dedicated SaaS company that leverages generative AI across its solutions, released a new analysis examining how recently approved fast-track interconnection processes are reshaping U.S. power market reliability across the PJM, Midcontinent Independent System Operator (MISO) and Southwest Power Pool (SPP) … Read more
Ron Bousso (Reuters) – Big Tech’s race to dominate artificial intelligence may soon hit a nasty road bump as U.S. electricity grids struggle to keep pace with the big-spending hyperscalers. America’s technology giants, including Microsoft, Amazon, Alphabet and Meta, have in recent months announced plans to spend over $600 billion on AI in 2026 alone. The investment wave has already fuelled … Read more
Goa, India – GLJ Ltd. (“GLJ”) and Techno Canada Inc. (“TCI”) are pleased to announce the signing of a new joint venture agreement, GLJ WW Private Limited, formalized on January 27, 2026, at the opening day of India Energy Week 2026 in Goa. This joint venture brings together two firms with complementary strengths: certification, engineering studies, and evaluations. Building on that … Read more
By Julian Hast US natural gas futures settled down in thin trading, closing to the lowest in about five months as forecasts shifted warmer, indicating lower demand for the heating and power-plant fuel. Traders were also pricing in an increasingly low probability of an unexpected cold snap draining supplies as the winter heating season draws … Read more
(Reuters) – President Donald Trump said on Tuesday during his State of the Union address that his administration has told major technology companies they must build their own power plants for their data centers, a measure meant to protect consumers from rising bills. The announcement comes amid growing local opposition to energy-hungry data center projects … Read more
Summary US-Iran talks could prevent conflict and supply disruption Deal with US hinges on diplomacy, Iranian minister says US oil stocks rise and gasoline inventories fall, API data shows (Reuters) – Oil prices held around seven-month highs on Wednesday as investors weighed up the threat to oil supply from potential military conflict between the U.S. … Read more
(Reuters) – The oil industry needs crude prices to rise and sustain at $70 per barrel in order to grow output, executives said on Tuesday. U.S. oil production can be maintained at its current level in the $60 to $65 price range, said Vicki Hollub, CEO of U.S. oil producer Occidental, during an Energy Aspects … Read more
HOUSTON, Feb 24 (Reuters) – U.S. oil major Chevron (CVX.N) has sold its first cargo of Venezuelan crude oil to India’s Reliance Industries (RELI.NS) since December 2023, according to ship tracking data and two sources. Chevron (CVX.N) negotiated the Boscan crude cargo to Reliance this month, marking the first sale of the heavy oil, which … Read more
HOUSTON, Feb. 24, 2026 /PRNewswire/ — EOG Resources, Inc. (EOG) today reported fourth quarter and full-year 2025 results. The attached schedules for the reconciliation of Non-GAAP measures to GAAP measures, along with a related presentation, are also available on EOG’s website at http://investors.eogresources.com/investors. Fourth Quarter Highlights Oil, NGLs and natural gas production and total per-unit operating costs … Read more
Big trucks and engines are back among US automakers, even as electrics gain ground around the globe. By Keith Naughton and David Welch Detroit under Donald Trump has rediscovered its love of the big, roaring engine. By gutting climate regulations, the president has freed US automakers to sell as many gas-burning trucks and SUVs as … Read more
(Reuters) – In the ten years since the first export cargo of liquefied natural gas (LNG) left Texas, the United States has grown rapidly into the top supplier of the ultra-cooled fuel to world consumers. That dramatic expansion shows no sign of slowing down, with analysts and industry executives projecting that record U.S. LNG export … Read more
(Reuters) – Iran’s Foreign Minister Abbas Araqchi said on Tuesday that a deal with the U.S. was “within reach, but only if diplomacy is given priority”, days ahead of expected talks between the two sides in Geneva. “Iran will resume talks with the U.S. in Geneva with a determination to achieve a fair and equitable … Read more
Feb 24 (Reuters) – Alphabet’s (GOOGL.O) Google doubled down on efforts to secure power supply for its data centers across the country by entering into separate agreements with U.S. utilities, AES Corp (AES.N) and Xcel Energy (XEL.O), on Tuesday. Big Tech firms have been scouring for new, reliable and cleaner energy sources to power their … Read more
(Reuters) – Argentina’s shale oil resource could be similar in size to that of the Permian Basin, the top oilfield in the U.S., Continental Resources CEO Doug Lawler said on Tuesday. Argentina’s projections show that oil output could reach 1.5 million to 2 million barrels per day in the next few years, but the U.S. … Read more
Insights for developers and investors to navigate interconnection risk and accelerate portfolio and project success AUSTIN, Texas (Feb. 24, 2026) Enverus, the leading energy SaaS and analytics platform, has released its 2026 Interconnection Queue Outlook. The report delivers a comprehensive view of power generation and transmission projects seeking connection to the U.S. power grid. Interconnection queues … Read more
By Hadeel Al Sayegh Summary KPC seeks $7 billion by leasing oil pipelines, sources BlackRock, Brookfield, others show interest in KPC deal, sources KPC transaction could launch end of February, sources Feb 24 (Reuters) – National oil company Kuwait Petroleum Corporation (KPC) has held early stage talks with a large group of potential investors over … Read more
The vessel Sea Horse, expected to arrive in early March, is carrying much-needed fuels to Cuba Bloomberg News A ship believed to be carrying Russian fuels is on its way to Cuba, putting U.S. President Donald Trump’s sanctions to the test amid the island’s deepening energy crisis. The vessel Sea Horse, expected to arrive in early … Read more
The line from Canada to Wyoming could potentially piggyback off pipe laid for the cancelled project This Article and More by Meghan Potkins Here A major new oil pipeline proposed to carry crude from the Canadian border to a hub in Wyoming could potentially piggyback off of existing pipe laid for the cancelled Keystone XL project, … Read more
Ron Bousso (Reuters) – A serious military confrontation between the U.S. and Iran could trigger a major disruption in Middle East oil supplies. The vast oil reserves the U.S. and China hold could prove critical in containing it. For now, uncertainty dominates in this protracted standoff, with U.S. and Iranian officials continuing to hold indirect talks, as American military … Read more
U.S. natural gas futures rose about 1% to a one-week high on Monday on near-record LNG export flows and forecasts for more demand than previously expected over the next two weeks as another winter storm buries the U.S. Northeast in snow. Gas futures for March delivery on the New York Mercantile Exchange rose 4.3 cents, … Read more
U.S. power plants scheduled to be retired in 2026 could stay online longer, the Department of Energy’s research arm said on Monday, building on a trend that began last year as electricity use and prices hit record levels in some parts of the country. Across the U.S., some 11 gigawatts of power-generating capacity had been … Read more
(Reuters) – Oil prices have been a consistent disinflationary force for the U.S. and global economies since mid-2024. That may be about to change. Fueled by signs of a solid upturn in economic activity at the start of the year and bubbling U.S.-Iran tensions that could spark military conflict, Brent and West Texas Intermediate crude … Read more
Summary Both crude benchmarks hover near seven-month highs US-Iran tensions key market driver in near term, analysts say US tariff situation creating market uncertainty (Reuters) – Oil prices hovered near seven-month highs on Tuesday, with traders assessing risks to supply from any military escalation as another round of U.S.-Iran nuclear talks loomed. Brent crude futures … Read more
MIDLAND, Texas, Feb. 23, 2026 (GLOBE NEWSWIRE) Diamondback Stockholders, This letter is meant to be a supplement to our earnings release and is being furnished to the Securities and Exchange Commission (SEC) and released to our stockholders simultaneously with our earnings release. Please see the information regarding forward-looking statements and non-GAAP financial information included at … Read more
MIDLAND, Texas, Feb. 23, 2026 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback,” “we,” “our” or the “Company”) today announced financial and operating results for the fourth quarter and full year ended December 31, 2025. FOURTH QUARTER 2025 HIGHLIGHTS Average oil production of 512.8 MBO/d (969.1 MBOE/d) Net cash provided by operating activities of … Read more
Feb 23 (Reuters) – Dominion Energy (D.N) forecast annual profit below Wall Street expectations on Monday, but raised its five-year capital spending plan by nearly 30% as the utility ramps up its efforts to meet soaring electricity demand. U.S. utilities have been adding billions of dollars to their capital expenditure budgets amid extreme weather conditions … Read more
Reuters U.S. spot natural gas prices for Monday at the Waha Hub in the Permian Shale in West Texas closed in negative territory for a record 12th time in a row as pipeline constraints trap gas in the nation’s biggest oil-producing basin, forcing some energy firms to pay others to take gas associated with their … Read more
Spot prices for liquefied natural gas (LNG) in Asia have drifted lower despite solid demand in the top-consuming region and record imports by Europe. Throw in tensions in the Middle East and the threat to shipments from Qatar, the second-biggest exporter behind the United States, and the relaxed spot price seems incongruous. Part of the … Read more
(Reuters) – Goldman Sachs raised its Brent and West Texas Intermediate crude forecasts for the fourth quarter of 2026 by $6 to $60 and $56 respectively, citing lower OECD stocks, even as it continued to assume no Iran-related supply disruption and maintained its view of a surplus this year. For the year, it now expects … Read more
(Reuters) – The U.S. Commerce Department on Monday will reveal a preliminary decision on whether to impose anti-subsidy duties on solar cells and panels imported from India, Laos and Indonesia. The announcement is the first of two expected by the agency in the coming weeks in a trade case brought by a group representing a portion of … Read more
(Reuters) – ConocoPhillips is exploring a sale of some of its Permian Basin assets as part of a broader streamlining of its portfolio, Bloomberg News reported on Friday, citing people familiar with the matter. The assets, picked up over the years through deals with Concho Resources and Shell, are expected to fetch about $2 billion, … Read more
Crude output is expected to be relatively steady in North Dakota in February, the third-largest U.S. oil-producing state, a state regulator said on Monday, with little change expected in drilling activity. Operators are likely to hold their drilling rig count, an indicator of future output, near current operational levels of 26 for the year, said … Read more
Energy Transfer has terminated offtake agreements with some customers of its suspended Lake Charles liquefied natural gas project in Louisiana, according to a filing with the U.S. Securities and Exchange Commission on Thursday. Here are some details: * “Several LNG offtake agreements have been terminated based on the nonsatisfaction of the condition related to making … Read more
Summary Brent benchmark remains close to six-month highs Iran and US to hold third round of talks on Thursday Trump’s latest tariff measures rekindle economic uncertainty (Reuters) – Oil prices steadied on Monday as the U.S. and Iran prepared for a third round of nuclear talks, easing fears of potential conflict and partly offsetting economic … Read more
Summary Exxon oil and gas assets in Cuba were seized in 1960 Energy giant seeks compensation from Cuban entities Court will hear second case involving cruise lines A US law called the Helms-Burton Act in the spotlight (Reuters) – The U.S. Supreme Court will consider on Monday the scope of a law that lets American companies … Read more
The U.S. Supreme Court’s Friday decision to strike down trade tariffs imposed by President Donald Trump last year may ease costs for some oil producers and drillers, but experts and analysts told Reuters that broader energy flows would likely remain unchanged for now. The court’s ruling could reduce the cost of building LNG plants and … Read more
(Reuters) – TXNM Energy on Friday said the U.S. Federal Energy Regulatory Commission (FERC) had authorized the company’s acquisition by Blackstone Infrastructure. Last year, Blackstone agreed to acquire the utility company in an $11.5 billion deal, including debt. FERC concluded that there is “no evidence that either state or federal regulation will be impaired by the proposed … Read more
Summary Judge says evidence at trial supported verdict Autopilot-equipped Model S crashed into victims Tesla not available for comment, expected to appeal Feb 20 (Reuters) – A federal judge rejected Tesla’s request to overturn a $243 million jury verdict over the 2019 crash of an Autopilot-equipped Model S, which killed a 22-year-old woman and severely injured … Read more
Summary Oil prices hold near six-month high Strait of Hormuz supply risk fears US Supreme Court decision on tariffs has little effect on crude Traders and investors bet on rising prices: Saxo Bank (Reuters) – Brent crude prices rose in late-day short-covering on Friday as investors worried about U.S. military action, as President Donald Trump … Read more
By Anett Rios and Alien Fernandez HAVANA, Feb 20 (Reuters) – Cubans are scrambling to install solar panels on their homes, shops and vehicles to combat extended blackouts as Washington prevents oil shipments from reaching the Caribbean’s largest island, contributing to electricity generation shortfalls. U.S. sanctions and a deep economic crisis have for years made … Read more
(Reuters) – The U.S. Congress could vote as soon as next week on whether to block President Donald Trump’s ability to strike Iran without lawmakers’ approval, as the U.S. military prepares for a potential serious conflict with Iran if diplomatic efforts fail. Members of Congress, including a few of Trump’s fellow Republicans as well as … Read more
(Reuters) – U.S. energy firms this week kept the number of oil and natural gas rigs unchanged for a second week in a row, 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, held steady at 551 in the … Read more
Summary Dept of Energy in talks with Indian govt on Venezuelan oil sale US made oil supply diversification central to India trade talks Interim trade deal effective April, India trade minister says NEW DELHI, Feb 20 (Reuters) – The United States is in “active negotiation” over the sale of Venezuelan oil to India, to help … Read more
By Grant Smith and Nayla Razzouk The conflicting positions of US President Donald Trump and major European governments came to the fore at a meeting of the west’s most important energy forecaster. For the first time in nine years, the International Energy Agency — created by developed nations in the 1970s to oversee energy security … Read more
Investment firms, including KKR & Co. and Energy Impact Partners, are scouting for possible acquisitions. By Coco Liu and Brian Kahn qw(g}0ld37k}ipd0dgh0fd5m_media_dl_1.png BloombergNEF Clean-energy dealmaking is showing signs of a comeback in the United States after last year’s sharp contraction. One of the first notable transactions that may occur is BlackRock Inc.’s Global Infrastructure Partners … Read more
CNN The Supreme Court on Friday ruled that President Donald Trump violated federal law when he unilaterally imposed sweeping tariffs across the globe, a striking loss for the White House on an issue that has been central to the president’s foreign policy and economic agenda. The decision is arguably the most important loss the second Trump administration has … Read more
(Reuters) – President Donald Trump warned Iran on Thursday that it must reach a deal over its nuclear program or “bad things” will happen, and appeared to set a 10-day deadline before the U.S. might take action. Amid a massive U.S. military buildup in the Middle East that has fueled fears of a wider war, … Read more
By Julian Hast EQT Corp. stands to pocket $1 billion in February alone as the natural gas producer reaps the benefits of its fortuitous position ahead of one of the steepest price rallies in the history of the US gas market last month. The second-largest US gas producer by volume entered 2026 almost entirely unhedged, … Read more
Summary Oil prices hold near six-month high Strait of Hormuz supply risk in focus Traders and investors bet on rising prices: Saxo Bank (Reuters) – Oil prices traded near six-month highs on Friday, poised for their first weekly gain in three weeks on growing concern over potential conflict after Washington said Tehran will suffer if it … Read more
By Jennifer A Dlouhy and Naureen S Malik US President Donald Trump’s plan for Japan to build a massive gas power plant in Ohio promises a flood of electricity in a region desperate for it. It also heralds risks for others eager to meet the demand — but without the same political support. The prospect … Read more
Reuters – The U.S. Energy Secretary Chris Wright gave the International Energy Agency on Thursday a one-year deadline to move away from its net zero climate-focused agenda or risk losing the U.S. as a member. In 2015 the U.S. and nearly 200 other countries signed the Paris Accords, an international pledge to limit global warming … Read more
By Curtis Williams and Shadia Nasralla US licenses enable Shell’s Dragon gas project progress Dragon project faced delays due to US policy shifts Shell aims to export gas via Atlantic LNG in Trinidad HOUSTON/LONDON, Feb 19 (Reuters) – General licenses for oil and gas exploration in Venezuela issued by the U.S. this month will allow … Read more
A drone view shows a property seized by authorities, where the authorities say they discovered a sophisticated tunnel used for large‑scale fuel theft from Mexico’s state energy company Pemex and for storing drugs, in Sayula, Mexico, February 18, 2026. REUTERS/Luis Cortes TEPETITLAN, Mexico, Feb 19 (Reuters) – Mexican authorities raided a tunnel used to steal … Read more
(Reuters) – Here are key facts about international oil companies in Venezuela, a country with vast oil reserves but dilapidated energy infrastructure. In the 2000s, then President Hugo Chávez expropriated assets from several foreign oil companies, strengthening state-owned PDVSA’s control over the country’s oilfields. After capturing President Nicolas Maduro in January, the United States eased … Read more
(Reuters) – U.S. product supplied of distillate fuel oil, a measure of demand for diesel and heating oil, rose in the previous week to 4.75 million barrels per day (bpd), the highest since January 2022, data from the Energy Information Administration showed on Thursday. Product supplied of distillate fuels rose about 304,000 bpd in the … Read more
(Reuters) – HOUSTON, Feb 19 – U.S. crude, gasoline and distillate inventories fell last week, the Energy Information Administration said on Thursday. Crude inventories fell by 9 million barrels to 419.8 million barrels in the week ended February 13, the EIA said, compared with analysts’ expectations in a Reuters poll for a 2.1 million-barrel rise. … Read more
(Reuters) – International Energy Agency Director Fatih Birol said on Thursday that oil demand growth is less than one million barrels per day and that a substantial surplus was expected. He said that it is up to OPEC+ countries to decide what they are going to do “but given the demand being less than one … Read more
(Reuters) – Crude oil exports from the world’s largest oil exporter fell to 6.988 million barrels per day, down from 7.378 million bpd in November and its lowest since September, data from the Joint Organizations Data Initiative showed on Thursday. Saudi Arabia’s crude output stood at about 10.084 million bpd in December, its highest since … Read more
Summary Chevron in prime position for early gains in Venezuela Challenges include repairing infrastructure, securing diluents Legal risks and regulatory uncertainty remain for oil companies CABIMAS, Venezuela, Feb 19 (Reuters) – In September, a rig used to drill wells in shallow waters completed the long trip from China to Venezuela’s oil-producing region of Lake Maracaibo. … Read more
By Reuters Cenovus Energy surpassed market estimates for fourth-quarter adjusted profit on Thursday, helped by higher upstream production. Canadian oil sands producers, including Cenovus, have remained resilient amid a global oil industry downturn, supported by years of investment that have made them among North America’s lowest-cost producers. The country’s oil producers are also gaining from the expanded Trans Mountain … Read more
Kinetik Holdings, a pipeline operator in the Delaware Basin, is considering a sale following an approach from Western Midstream Partners, the Financial Times reported on Wednesday, citing people familiar with the matter. The development comes as energy-intensive data centers and rising liquefied natural gas (LNG) exports drive U.S. gas consumption higher, prompting producers to pull … Read more
By Nicole Jao, Arathy Somasekhar and Marianna Parraga Phillips 66, Citgo seek to purchase directly starting in April, Valero later in the year Venezuelan crude prices ease amid US Gulf Coast supply surge Direct purchases may face challenges under general license HOUSTON, Feb 18 (Reuters) – U.S. refiners Phillips 66 and Citgo Petroleum are seeking … Read more
By Padraic Halpin Microsoft to retain matching target during AI expansion Tech giant has purchased 40 GW of new renewable energy Ready to ramp up again in data centre pioneer Ireland DUBLIN, Feb 18 (Reuters) – Microsoft (MSFT.O) has promised to keep buying enough renewable energy to match all its electricity needs after meeting that … Read more
By Peter Henderson SAN FRANCISCO, Feb 18 (Reuters) – California, Colorado and Washington are suing the federal government to force it to pay out grants approved by Congress for clean energy projects, the California attorney general’s office said on Wednesday. The Trump administration terminated some funding allocated under environmentally focused laws, including the Inflation Reduction … Read more
(Reuters) – Golden Pass, an LNG project jointly owned by Exxon Mobil and QatarEnergy, pulled 300 million cubic feet of gas on Wednesday as it moves closer to making its first LNG, LSEG data show. When complete the 18 million metric tonnes per annum project in Texas is expected to be one of the largest … Read more
Summary Brent and WTI benchmarks up more than 1% Prices buoyed by concern over potential U.S.-Iran conflict US crude and fuel inventories fell last week, sources said (Reuters) – Oil prices rose on Thursday, driven by increasing concerns over potential military conflict between the United States and Iran as both countries stepped up military activity in the … Read more
By Josh Wingrove, Yoshiaki Nohara, and Catherine Lucey Japan plans to invest up to $36 billion in US oil, gas and critical mineral projects, the first tranche of its $550 billion commitment under the trade agreement it struck with President Donald Trump. “Our MASSIVE Trade Deal with Japan has just launched!” Trump posted Tuesday on … Read more
By Mark Burton The Trump administration’s primary interest in Greenland is on national security, not the development of its rare earths or energy resources, according to US Energy Secretary Chris Wright. President Donald Trump has long sought to assert control over Greenland, and since his return to the White House his administration has been in … Read more
By Julian Hast US natural gas futures closed down, ending at a fresh four-month low, as traders weighed warming outlooks stretching through the end of the month, decreasing demand for the heating fuel. “We are simply running out of time for a last winter cold shot,” said Darrell Fletcher, managing director of commodities at Bannockburn … Read more
By Gavin Maguire LITTLETON, Colorado, Feb 18 (Reuters) – U.S. exporters of LNG consumed more natural gas than both households and commercial businesses last year, tightening U.S. gas supplies and putting the LNG export boom squarely in the frame of discussions surrounding rising U.S. energy costs. Liquefied natural gas exporters gobbled up a record 5,000 … Read more
By Bruno Venditti | Graphics/Design Christina Kostandi Key Takeaways Renewables generate 67% of Canada’s electricity, compared to just 22% in the U.S. Natural gas is the top power source in most U.S. states, while hydro dominates in Canada. Coal, nuclear, wind, solar, and even petroleum still lead in select regions. What powers your state or … Read more
SM Energy said on Wednesday it would sell select assets in South Texas to Caturus Energy for $950 million in cash to reduce debt and bolster its capital structure. The U.S.-based oil and gas producer has agreed to sell nearly 61,000 net acres and about 260 producing wells in its southern Maverick Basin position in … Read more
China this month marks a year since it last imported liquefied natural gas from the U.S. amid a tense trade war between the world’s two largest economies. Yet throughout the past year, Chinese firms have continued purchasing U.S. LNG under long-term supply contracts with American producers. Instead of delivering the super-chilled fuel home, they have … Read more
Summary Ukraine peace talks end in Geneva after Zelenskiy says Russia stalling Iran, US reach understanding on main ‘guiding principles’ in nuclear talks Eurasia Group sees 65% chance of US strikes on Iran by April Iran and Russia to conduct navy drill on Thursday, Fars news agency reports (Reuters) – Oil prices gained nearly 3% … Read more
U.S.-based energy company EQT Corp beat Wall Street estimates for fourth-quarter adjusted profit on Tuesday, benefiting from higher natural gas prices and sales volumes. Power-hungry data centers and a surge in liquefied natural gas (LNG) exports are driving up sales for U.S. natural gas companies, pushing them to increase production to meet rising demand. U.S. … Read more
U.S. energy secretary Chris Wright said on Tuesday that Venezuela could add “several hundred thousand barrels per day” to oil production by year-end.“I think you’ll see several 100,000 barrels a day of additional production by the end of this year,” Wright said speaking at a conference in Paris. (Reporting by Kate Abnet, Forrest Crellin, Writing … Read more
U.S. natural gas producer Expand Energy beat Wall Street estimates for fourth-quarter profit on Tuesday and aims to strengthen its balance sheet with at least $1 billion in debt reduction in 2026. The company benefited from higher prices as U.S. natural gas futures rose over 11% sequentially in the fourth quarter, breaking a falling streak … Read more
(Reuters) – U.S. Energy Secretary Chris Wright said on Tuesday the United States is not satisfied yet with reforms at the International Energy Agency (IEA). Speaking at a conference in Paris, he added that Washington does “not need a net-zero scenario” from the body and could leave the agency “if they insist that it’s so … Read more
By Jonathan Stempel and Katha Kalia PacifiCorp has warned of liquidity concerns from Oregon wildfire PGE to acquire natural gas, wind, utility assets Transaction may close in more than one year Feb 17 (Reuters) – PacifiCorp, a utility owned by Berkshire Hathaway (BRKa.N), is selling wind, natural gas generation and distribution assets and infrastructure in … Read more
Ovintiv said on Tuesday it agreed to sell its Anadarko assets in Oklahoma to an undisclosed buyer for $3 billion, as the company sharpens its focus on higher-margin plays in the Permian Basin and Canada’s Montney. Shares of the company rose nearly 2% in extended trading. The divestiture delivers on a plan the company outlined in … Read more
DENVER, Feb. 17, 2026 /CNW/ – Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (“Ovintiv” or the “Company”) announced today that it has entered into a definitive agreement to sell its Anadarko assets, located in Oklahoma, to an undisclosed buyer, for cash proceeds of $3.0 billion. The sale includes approximately 360 thousand net acres, which represents substantially all of the company’s … Read more
Most of the growth came from shipping crude oil to Europe. By Gary Kean Newfoundland and Labrador outpaced other provinces in sending a larger share of exports to non-U.S. markets in 2025. However, that does not mean it has diversified trading partners. According to a recent TD Economics report on the shifting nature of goods … Read more
There’s a growing belief that if U.S. automakers are abandoning Canada, there’s no longer any reason to do them favours By Nojoud Al Mallees As the weeks passed after General Motors Co. shut down the assembly line where he had been working, reality began to set in for Mike Horne. Sitting in a union office … Read more
By Keira Wright A judge dismissed a long-running legal challenge against Santos Ltd., which had accused the Australian oil and gas producer of misleading investors over its climate strategy. The case brought by the Australasian Centre for Corporate Responsibility, a shareholder advocacy group, was rejected Tuesday by Justice Brigitte Markovic. Details of her decision will … Read more
By Reuters KYIV, Feb 17 – Russian forces pounded Ukrainian power infrastructure before a new round of peace talks, killing three energy workers and leaving tens of thousands of people without power and heat, officials said on Tuesday. President Volodymyr Zelenskiy condemned the overnight strikes on 12 Ukrainian regions that came under attack hours before the … Read more
By Olesya Astakhova, Ahmad Ghaddar and Alex Lawler Eight OPEC+ members meet on March 1 OPEC+ has paused increases for first quarter of 2026 Brent crude price near highest since August Russia’s Novak predicts increased demand from March-April MOSCOW/LONDON, Feb 13 (Reuters) – OPEC+ is leaning towards a resumption in oil output increases from April, … Read more
Summary Oil prices drop amid possible easing in US-Iran tensions Iran-US talks progress but no imminent deal, Araqchi says Volatility to continue due to geopolitical tensions (Reuters) – Oil prices fell about 2% to a two-week low on Tuesday on hopes tensions between the United States and Iran were easing after Iran’s foreign minister said … Read more
(Reuters) – Oil prices could remain supported in the near term as U.S. President Donald Trump ramps up pressure for peace deals involving Russia and Iran, but a resolution later this year may ultimately push crude lower, Citi said on Monday. Brent crude has rallied from around $60 per barrel to near $70 in the … Read more
Russian oil producers could be forced to sharply cut output in coming months as tightening pressure from U.S. President Donald Trump and European powers restricts the country’s exports and its storage fills up, a development that would further dent the Kremlin’s war chest. Russian crude exports have remained broadly stable in recent years despite sweeping … Read more
(Reuters) – President Donald Trump and Israeli Prime Minister Benjamin Netanyahu agreed at a White House meeting lasr week that the U.S. would work to reduce Iran’s oil exports to China, Axios reported, citing two U.S. officials briefed on the issue. “We agreed that we will go full force with maximum pressure against Iran, for … Read more
Summary US, Iran officials due to meet in Geneva on Tuesday Iran says energy, mining and aircraft deals on table in US talks OPEC+ leans toward resuming output hikes from April, sources say LONDON, Feb 16 (Reuters) – Oil prices were little changed on Monday, with investors weighing the market implications of upcoming U.S.-Iran talks … Read more
The two superpowers are choosing different paths in terms of where to get energy and how to tackle climate change Bloomberg News This week’s major climate news played out on a split screen with the world’s two superpowers signalling different paths for the future. In the United States, the Environmental Protection Agency walked back its own … Read more
Summary Judge rejects Rob Bonta’s immunity claim in defamation case Attorney general accused Exxon of lies, deception Claims against environmental groups are dismissed Bonta, Exxon not available for comment (Reuters) – A federal judge on Friday rejected California Attorney General Rob Bonta’s bid to dismiss Exxon Mobil’s lawsuit accusing him of defamation in criticizing the oil … Read more
By Robert Tuttle Takeaways by Bloomberg AI Canada’s energy minister said the government’s push to build carbon capture technology in the Alberta oil sands ensures the industry is adapting to change. The Canadian government signed a memorandum of understanding with the province of Alberta that pledged backing for a new oil pipeline in exchange for a higher … Read more
Summary US CPI data suggests potential for further rate cuts, boosting risk appetite OPEC+ may resume oil output increases from April, impacting summer fuel demand Russia says next Ukraine peace talks set for next week Investors watch for US-Iran talks, easing Venezuelan sanctions (Reuters) – Oil prices settled marginally higher on Friday after data showed … Read more
By Timothy Gardner Venezuela’s interim President Delcy Rodriguez, U.S. Energy Secretary Chris Wright and U.S. Charge d’Affaires for Venezuela Laura Dogu visit oil production facilities at the joint venture between Chevron and state oil company PDVSA in the Orinoco Oil Belt Oil majors with offices in Venezuela granted general license New investments in oil and … Read more
U.S. gas producer Caturus said on Friday it signed a 20-year agreement to supply 1 million tonnes per annum of LNG to Saudi Aramco from its proposed Louisiana export project. Last month, Reuters reported the deal, citing sources, between Aramco and Commonwealth LNG, owned and operated by Caturus. Commonwealth had said it wants to get to 8 … Read more
(Reteurs) – U.S. energy firms this week cut three oil rigs and added three natural gas rigs, keeping the overall rig count unchanged, energy services firm Baker Hughes said in its closely followed report on Friday. After rising for three weeks in a row, the oil and gas rig count, an early indicator of future … Read more
By Nidhi Verma and Jarrett Renshaw Reliance applied for general authorisation in January Direct import of Venezuelan oil to help replace Russian oil Trump wants India to buy more oil from US and Venezuela NEW DELHI/WASHINGTON, Feb 13 (Reuters) – The United States has issued a general licence to India’s Reliance Industries Ltd (RELI.NS), opens … Read more
(Reuters) – The Pentagon is sending an aircraft carrier from the Caribbean to the Middle East, two U.S. officials told Reuters on Friday, a move that would put two carriers in the region as tensions soar between the United States and Iran. The Gerald R. Ford carrier, the United States’ newest and the world’s largest … Read more
February 13, 2026 CALGARY, AB, Feb. 13, 2026 /CNW/ – Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) today reported fourth quarter 2025 financial results, reaffirmed its 2026 financial guidance and provided a quarterly business update. Highlights (All financial figures are unaudited and in Canadian dollars unless otherwise noted. * identifies non-GAAP financial measures. Please … Read more
Strongest safety performance in five years drives 15 flow records and solid financial results Progress in commercial discussions strengthens line of sight to incremental project announcements in 2026 Raises dividend for 26th consecutive year CALGARY, Alberta, Feb. 13, 2026 (GLOBE NEWSWIRE) — TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) released its fourth quarter and … Read more
(Reuters) – ConocoPhillips and its partners will invest some 20 billion Norwegian crowns ($2.11 billion) to restart production at three fields in the Greater Ekofisk area by the end of 2028, plans presented to the Norwegian government showed on Friday. The project, called the Previously Produced Fields (PPF), aims to extract more hydrocarbons from late-life Albuskjell, … Read more
U.S. President Donald Trump said on Thursday that billionaire energy entrepreneur and Republican donor Harry Sargeant III has no authority to act on behalf of the U.S., adding that relations between the U.S. and Venezuela had been “extraordinary.” “He has no authority, in any way, shape, or form, to act on behalf of the United … Read more
Summary Trump says US could conclude Iran deal over the next month Venezuelan oil supply expected to ramp up, says analyst IEA lowers global oil demand forecasts for this year Kremlin says next Ukraine peace talks set for next week (Reuters) – Oil prices edged higher on Friday but were on track for a … Read more
By Andrew Rosati and Annmarie Hordern President Donald Trump’s energy chief said that the US can help Venezuela drive a “dramatic increase” in oil, natural gas and electricity output this year, as Washington works to issue new licenses aimed at “setting free” the country’s economy. Energy Secretary Chris Wright spoke to reporters after meeting with … Read more
Feb 12 (Reuters) – The U.S. Treasury Department on Thursday unveiled interim rules for enforcing provisions in President Donald Trump’s new tax law that restrict companies from claiming federal clean energy subsidies if they are overly reliant on Chinese-made equipment. The guidance, which applies to lucrative tax credits for clean energy manufacturing and electricity generation, … Read more
By Grant Smith Global oil stockpiles accumulated last year at the strongest pace since the 2020 pandemic as supplies soared and demand growth slowed, according to the International Energy Agency. Inventories increased by an “extraordinary” 477 million barrels in 2025, with stocks in OECD nations surpassing their five-year average for the first time in four … Read more
By Rakesh Sharma India will need favorable terms to enter into long-term liquefied natural gas purchase deals with the US as the market is highly price sensitive, according to the chief executive officer of the country’s top LNG importer. “India is looking to source energy at the most competitive and affordable price for consumers,” Petronet … Read more
Summary Cuba is facing a severe fuel shortage due to US actions Island has warned that jet fuel is no longer available Russia last supplied Cuba with oil in February 2025 Kremlin says it’s discussing assistance with Havana (Reuters) – Russia is preparing to send crude oil and fuel cargoes to Cuba in the near … Read more
Summary IEA still projects sizeable global oil supply surplus in 2026 Oil prices rise amid geopolitical tensions and supply outages OPEC+ and other producers boost supply faster than demand Oil slips after IEA report published, still up 14% in 2026 (Reuters) – World oil demand will rise more slowly than expected this year, the International … Read more
By Marilen Martin Siemens Energy AG’s Chief Executive Officer Christian Bruch has a message for investors worried about surging spending on data centers: Don’t fear a bubble. “So far, we see reservations more or less one to one converting into effective orders,” Bruch said Wednesday on Bloomberg Television. “I’m relatively comfortable going forward that this … Read more
By Alex Lawler OPEC sees 400,000 bpd drop in demand for OPEC+ oil in Q2 vs Q1 OPEC+ is pausing production hikes in first-quarter 2026 OPEC+ eight members meet on March 1, expected to decide on resuming hikes For 2026, OPEC data indicates supply deficit, in contrast to IEA’s glut LONDON, Feb 11 (Reuters) – … Read more
Summary Trump says talks with Tehran will continue Large build in US crude stocks caps price gains IEA lowers global oil demand forecast for 2026 (Reuters) – Oil prices slipped on Thursday as investors weighed the International Energy Agency’s lowering of its global oil demand forecast for 2026 against potential escalation of U.S.-Iran tensions. Brent … Read more
By Marianna Parraga and Nathan Crooks US Energy Secretary Chris Wright met Venezuelan interim President Delcy Rodriguez Visit follows Maduro’s capture, $2 billion oil supply deal US aims to reshape global energy markets and pressure Russia, analyst says HOUSTON, Feb 11 (Reuters) – Venezuela is hosting U.S. Secretary of Energy Chris Wright this week, marking … Read more
SM Energy has launched the sales process for some of its natural gas-producing assets in the Eagle Ford shale basin of South Texas as it looks to trim debt following its near $13 billion merger with Civitas, three sources familiar with the matter said. * SM Energy closed the merger last month and took on … Read more
By Valerie Volcovici and Trevor Hunnicutt WASHINGTON, Feb 11 (Reuters) – President Donald Trump on Wednesday ordered the Defense Department to purchase electricity from coal-fired power plants in his latest effort to boost the coal sector. The move, which was announced at the White House as an executive order, calls for the Pentagon to form … Read more
CALGARY, Alberta, Feb. 11, 2026 (GLOBE NEWSWIRE) — This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this release. This release … Read more
By Christoph Steitz and Tom Käckenhoff First-quarter net profit surges to 746 million euros Siemens Gamesa’s operating loss narrows to 46 million euros Siemens Energy shares have risen more than ten-fold since 2024 Shares up 5% to record high FRANKFURT/DUESSELDORF, Feb 11 (Reuters) – Siemens Energy’s (ENR1n.DE) net profit nearly tripled in the first three … Read more
(Reuters) – U.S. natural gas output will rise to a record high in 2026, while demand will hold steady, the U.S. Energy Information Administration said in its Short-Term Energy Outlook on Tuesday. EIA projected dry gas production will rise from a record 107.6 billion cubic feet per day in 2025 to 110.0 bcfd in 2026 … Read more
(Reuters) – The United States will have to do “something very tough” if a deal is not reached with Iran, President Donald Trump told Israel’s Channel 12 in an interview published online on Tuesday. “Either we reach a deal or we’ll have to do something very tough,” it quoted Trump as saying. Trump has said … Read more
(Reuters) – U.S. power consumption, which hit its second straight record high in 2025, will rise further in 2026 and 2027, the Energy Information Administration said in its Short-Term Energy Outlook on Tuesday. The EIA projected power demand will rise from a record 4,195 billion kilowatt-hours in 2025 to 4,268 billion kWh in 2026 and … Read more
Summary Trump hints at second carrier in Middle East US crude stocks likely rose last week – Reuters poll Crude draws at ARA, Fujairah suggest tight market LONDON, Feb 11 (Reuters) – Oil prices gained on Wednesday, buoyed by escalating risk as U.S.–Iran talks remained tenuous, while draws of crude from key stockpiles suggested stronger … Read more
Summary U.S. Energy Secretary Chris Wright to meet Venezuelan officials, Chevron, Repsol executives Visit follows Maduro’s capture, $2 billion oil deal U.S. aims to reshape global energy markets and pressure Russia, analyst says (Reuters) – Venezuela will host U.S. Secretary of Energy Chris Wright this week, marking the highest-level U.S. visit focused on energy policy … Read more
The U.S. Treasury Department on Tuesday issued a general license authorizing the provision of U.S. goods, technology, software or services for the exploration, development or production of oil and gas in Venezuela, a long-awaited permit that could help increase output in the country. Washington has been relaxing sanctions on Venezuela’s energy industry, first imposed in … Read more
(Reuters) – Expanded U.S. licenses for Venezuela-related deals are expected to restore the South American country’s oil production by mid-2026 to levels seen before a U.S. naval blockade in December, the U.S. Energy Information Administration said on Tuesday. Venezuela’s state oil company PDVSA was forced to make deep output cuts after Washington imposed the strict … Read more
(Reuters) – BP’s decision to scrap buybacks may be painful in the short run, but by prioritising production growth over shareholder payouts it can begin to repair its shaky financial footing. Cutting buybacks marks the most significant shift in BP’s financial framework since it halved its dividend in August 2020 following the pandemic-driven collapse in … Read more
(Reuters) – Equinor’s international oil and gas portfolio will return to growth in the next few years as the Norwegian energy group targets sharply increased output abroad by 2030, its head of foreign operations told Reuters. After recent divestment of onshore assets in Argentina, Equinor now produces oil and gas in seven countries outside Norway, … Read more
By David Wethe and Kevin Crowley Chevron Corp. acquired a ranch in West Texas whose owner had been waging a legal battle accusing the US energy giant of negligently spilling toxic water and crude oil on the 22,000-acre property. The sale of Ashley Watt’s Antina Ranch was recorded on Feb. 3 by the Crane County … Read more
By Timour Azhari [image] Saudi, US firms to explore oil and gas in northeast Syria Project follows Assad’s ousting, lifting of US sanctions Consortium includes Baker Hughes, Hunt Energy, ACWA Power, TAQA, Argent LNG RIYADH, Feb 10 (Reuters) – Two Saudi Arabian and three U.S.-based firms are set to form a consortium for oil and … Read more
CALGARY – Oilpatch advisers are expecting the wave of consolidation to continue after last year’s string of blockbuster Canadian deals, but whether foreign buyers are ready to jump into the fray remains an open question. Companies have seen the merit in bulking up through mergers and acquisitions as oil prices hover around the lacklustre US$60 … Read more
BP pauses $750-million quarterly share buybacks Q4 net profit $1.54 billion, up 32% on year Bumerangue field expected to hold 8 billion barrels Shares dropped as much as 5.7% in morning trading (Reuters) – BP suspended its share buyback programme and took about $4 billion of charges in its renewables and biogas assets, sending its shares … Read more
Summary Presidio’s Goldman facility is a first in oil and gas industry Acquisition finance provided by Goldman, with debt held by bank for use in future ABS Structure offers lower debt costs, as well as speed and more certainty in deal talks (Reuters) – Presidio Investment Holdings is working with Goldman Sachs on a first-of-its-kind debt … Read more
(Reuters) – Shell CEO Wael Sawan said on Tuesday the oil major does not have to buy additional assets anytime soon to deliver on its 2030 targets. In March, Sawan projected a 100,000 to 200,000 barrels-of-oil-equivalent-per-day gap for the company by 2030, but said last week the company has largely covered that near‑term shortfall. Shell needs … Read more
(Reuters) – Utility firm Duke Energy forecast a higher current-year profit on Tuesday on the back of strong power demand. The rapid buildout of AI data centers and accelerating power consumption across homes and businesses were set to drive U.S. demand to record highs in 2026, the U.S. Energy Information Administration said. The utility firm was also considering adding large … Read more
Natural gas producer Expand Energy on Monday announced the departure of CEO Domenic Dell’Osso and also said it plans to relocate its corporate headquarters to Houston from Oklahoma City.The company said Chairman Michael Wichterich would take charge as interim chief. Dell’Osso will serve as an external advisor for a period of time. The company added … Read more
(Reuters) – The United States issued fresh guidance on Monday to commercial vessels transiting the Strait of Hormuz, a key shipping lane for Middle East oil supplies, as tensions simmered between Washington and Tehran over Iran’s nuclear program. Iran has in the past threatened to close down the Strait of Hormuz, a portion of which … Read more
Feb 9 (Reuters) – French oil major TotalEnergies (TTEF.PA) on Monday signed two long-term deals to supply solar power to Google’s (GOOGL.O) data centres in Texas, as it looks to tap rising electricity demand driven by artificial intelligence. Total will deliver 1 gigawatt of capacity – equivalent to 28 terawatt-hours of renewable power over 15 … Read more
MOSCOW, Feb 9 (Reuters) – The Kremlin said on Monday that the fuel situation in Cuba, which has unveiled a plan to protect essential services and ration fuel, was critical and that U.S. attempts to “suffocate” the island’s economy were causing many difficulties. Cuba detailed its plans to navigate the deepening crisis on Friday as … Read more
(Reuters) – Oil prices edged up on Tuesday as traders gauged the potential for supply disruptions after U.S. guidance for vessels transiting the Strait of Hormuz kept attention squarely on tensions between Washington and Tehran. Brent crude oil futures were up 37 cents, or 0.5%, at $69.41 a barrel by 1136 GMT. U.S. West Texas Intermediate crude … Read more
By Sing Yee Ong and Julian Hast US natural gas dropped for a second session on the outlook for warmer temperatures across large parts of the country, likely trimming demand for the heating and power-plant fuel. Futures for March delivery slipped as much as 9.1% to $3.111 per million British thermal units. With much of … Read more
(Reuters) – U.S. natural gas futures fell by more than 8% on Monday on forecasts for milder weather than previously expected for the rest of the month, erasing the previous session’s gains. Gas futures for March delivery on the New York Mercantile Exchange fell 27.7 cents, or 8.1%, to $3.15 per million British thermal units … Read more
(Reuters) – Venezuela’s state oil company PDVSA has reversed most of the output cuts it had ordered at its own oilfields and joint ventures in the country’s main crude region, the Orinoco Belt, which has boosted the nation’s total production close to 1 million barrels per day (bpd), sources close to operations said. The Orinoco … Read more
By Shadia Nasralla and Stephanie Kelly Shell reserves at lowest since at least 2013, faces output gap Reserve life 8 years, markedly below Exxon Analysts see need for M&A, exploration success LONDON, Feb 9 (Reuters) – Shell needs an acquisition or exploration breakthrough to make up for an expected production shortage of 350,000-800,000 barrels of … Read more
Tengiz output has recovered to about 550,000 bpd, sources say Full recovery expected by February 23 Kazakhstan’s overall oil production on the rise January fires at power facilities caused prolonged shutdown Kazakhstan’s oil exports declined due to Tengiz outage MOSCOW, Feb 9 (Reuters) – The giant Chevron-led (CVX.N) Tengiz field in Kazakhstan has recovered to … Read more
By Niccolo Conte | Article/Editing: Govind Bhutada | Graphics/Design: Amy Realey Key Takeaways Language-heavy and information-based roles rank as the most exposed to generative AI, according to Microsoft’s recent research. Interpreters, historians, writers, and customer service roles show the highest AI applicability scores. Exposure does not equal replacement, and many roles are more likely to … Read more
WASHINGTON, Feb 6 (Reuters) – U.S. Energy Secretary Chris Wright said on Friday he will before long visit Venezuela to meet with “all the leadership” and to get a better understanding of on-the-ground oil and gas production operations there. Wright did not say when the trip will take place. The Trump administration has said it … Read more
Ron Bousso Global oil markets face increasingly sharp and frequent price shocks as geopolitical tensions, opaque stockpiling and tightening Western sanctions are leaving many traders in the dark. The growing influence of external, unpredictable forces on the world’s largest and most liquid commodity market raises doubts about how accurately prices reflect physical fundamentals. Indeed, … Read more
By Kevin Crowley and Veena Ali-Khan Exxon Mobil Corp. and Chevron Corp. are setting their sights on expanding production in nations tied to OPEC, including some of the world’s riskiest geopolitical hotspots, as President Donald Trump’s assertive foreign policy helps them strike deals. Venezuela, home to the world’s largest reserves, is the most high-profile opening … Read more
Summary Oil prices fall as US-Iran talks ease supply fears Iran threatens US bases if attacked, despite talks EU proposes ban on services supporting Russia’s oil exports India moving away from Russian oil, sources say (Reuters) – Oil prices were stable on Monday after the U.S. and Iran pledged to continue indirect talks, easing oil … Read more
By Christine Dobby Cross-Border Shopping Anyone who follows the US banking industry can tell you a wave of mergers is likely on the way because regulators under the Trump administration have signaled a friendlier stance on consolidation. There are close to 4,400 banks in the US (yes, Canadians, you read that right) and many of the mid-size … Read more
U.S. oil production fell in November to the lowest since July, while oil demand fell to the lowest since April, data from the Energy Information Administration showed on Friday. Crude oil output fell to 13.78 million bpd in November, down about 82,000 from October’s record high 13.86 million bpd, the EIA data showed. That is … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a third week in a row for the first time since November, 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, rose by five to … Read more
(Reuters) – President Donald Trump signed an executive order on Friday rescinding a punitive 25% duty on all imports from India over its purchases of Russian oil, the White House said. Trump on Monday announced a trade deal with India that slashed U.S. tariffs on Indian goods to 18% from 50% in exchange for India halting Russian … Read more
Summary Four-year deal includes 15% pay raise, $2,500 signing bonus USW sought 16% raise, Marathon firm on final offer Contract replaces current one, which was extended before February 1 expiration Union tells BP Indiana refinery employees to prep for strike, lockout (Reuters) – The U.S. United Steelworkers union adopted on Friday a national agreement on … Read more
Summary Tesla hiring to pursue Musk plan for 100 GW of US solar manufacturing Goal far exceeds current US solar manufacturing capacity Job post says plan is to meet solar manufacturing goal by end of 2028 Feb 6 (Reuters) – Tesla is hiring to support founder Elon Musk’s recently announced plan to become the biggest U.S. … Read more
(Reuters) – Global electricity demand growth is expected to ramp up by more than 3.5% per year on average over the rest of the decade while renewable energy and nuclear power are expected to make up nearly half of all power production, the International Energy Agency said in a report on Friday. Here are some … Read more
(Reuters) – Mexican officials are evaluating how to send fuel to Cuba to help meet basic needs such as electricity and transportation without triggering reprisals from Washington, which has threatened tariffs against countries supplying fuel to the Caribbean island, four sources familiar with the matter said. The sources said high-level Mexican officials have been talking … Read more
(Reuters) – Williams Companies is exploring buying natural gas production in the United States, a rare foray for an energy infrastructure operator, as it aims to secure natural gas supplies to support its one-stop-shop offering to hyperscalers and data center clients, three people familiar with the matter said. The Tulsa, Oklahoma-based firm has spent the … Read more
Geopolitical risk reverses oil price decline (Reuters) – Oil prices settled higher on Friday, reversing earlier losses as traders worried that this week’s talks between the U.S. and Iran had failed to reduce the risk of a military conflict between the two countries. Brent crude futures settled at $68.05 a barrel, up 50 cents, or … Read more
By Emma Sanchez The world’s largest oilfield-service providers are looking to production increases in the Middle East to help offset a slowdown in US shale. That’s one of the big takeaways from comments this week made by executives at Helmerich & Payne Inc. and Patterson-UTI Energy Inc., who pointed to opportunities in countries such as Saudi Arabia to help … Read more
(Reuters) – The Trump administration on Thursday said it would hold a sale of oil and gas drilling rights across 5.5 million acres of Alaska’s National Petroleum Reserve on March 9. WHY IT’S IMPORTANT The sale is the first of at least five mandated by President Donald Trump’s One Big Beautiful Bill Act, which he … Read more
Phillips 66 is set to lay off 277 employees as operations at the 139,000-barrel-per-day Los Angeles-area refinery wind down ahead of closure, filings to California’s employment regulator show. The Houston-based refiner will terminate 122 employees at the Los Angeles-area refinery in April, a notice filed with the regulator on Monday showed. In a separate … Read more
One of the biggest problems facing Tesla these days is the fact there are plenty of other EV options to choose from By Hannah Elliott Tori Horowitz loved her 2021 Tesla Model S. “It worked for my life because I’m in my car all the time,” says the realtor, who drives weekly from Los Angeles … Read more
By David Wethe ConocoPhillips Chief Executive Officer Ryan Lance’s priority in Venezuela is recouping billions his company is owed almost two decades after its oil projects were nationalized, rather than drilling new wells. Despite roughly $10 billion in favorable judgments from international arbitrators holding Venezuela liable for the seizures, the Houston oil giant’s efforts to … Read more
(Reuters) – United Steelworkers is asking workers at BP’s 440,000-barrel-per-day refinery in Whiting, Indiana, to prepare for a strike or lockout, the union said on Thursday after weeks of negotiations with the British oil major that did not yield results. The comments come after 98% of members at the refinery voted to authorize a strike. … Read more
By Curtis Williams Cheniere plans 24 mtpa LNG plant expansion in Texas Expansion to add four new LNG processing trains Cheniere aims for federal approval by May next year HOUSTON, Feb 5 (Reuters) – Cheniere Energy, the largest liquefied natural gas exporter in the U.S., has submitted an application to build a 24 million metric … Read more
Summary Weekly price drop would be first since mid-December US, Iran in dispute over agenda for talks in Oman Geopolitical risk stems oil price decline (Reuters) – Oil prices held steady on Friday as investors awaited news from high-stakes talks between the United States and Iran that are taking place in Oman amid fears of another supply-disrupting … Read more
(Reuters) – Shell hopes to produce gas from Venezuela’s Dragon field in three years and have it processed in Trinidad and Tobago for export, CEO Wael Sawan told Bloomberg TV in an interview on Thursday. Shell and Trinidad have been trying to increase the supply of natural gas to Trinidad’s Atlantic LNG export facility and … Read more
(Reuters) – Shell is weighing investments in certain offshore natural gas opportunities in Venezuela involving investments worth a few billion dollars with production expected in the next couple of years, CEO Wael Sawan said in an interview with CNBC on Thursday. “These are opportunities that could potentially be activated within months,” he told CNBC, adding … Read more
By Julian Hast US natural gas consumers withdrew more gas from storage last week than they ever have before as a powerful late-January storm boosted demand for the heating fuel while also disrupting production across key gas-producing basins. Consumers withdrew 360 billion cubic feet of gas in the week leading up to Jan. 30, the … Read more
By Ron Bousso Qatar’s long-term deal to supply Japan’s power giant JERA with liquefied natural gas highlights two key themes in the red-hot market for this super-chilled fuel: the race to gain market share and the global push for energy security. Qatar’s national oil and gas company QatarEnergy on Tuesday signed a deal to supply … Read more
TrueFlow Technologies is a newly incorporated company with proven & ground-breaking technology that focuses solely on the multiphase flow measurement market as it relates to the Oil & Gas industry. The DIP Multiphase Flow Meter is a unique & disruptive technology offering accurate and reliable measurement across all well flow regimes. Whether the well is … Read more
(Reuters ) – Kuwait Oil Company (KOC) is in talks with some U.S. firms on potential cooperation to develop its shale oil and gas resources, its chief executive said on Thursday. KOC is “engaging with some U.S. operators to explore how their expertise can support the development of Kuwait’s shale oil and shale gas resources,” … Read more
HOUSTON–(BUSINESS WIRE)–Chevron Corporation (NYSE:CVX) today announced several senior leadership changes. Frank Mount, President, Corporate Business Development, will retire from Chevron in November 2026 after 33 years of service. Mount has led the company’s global business development activities since 2023. “Throughout his career, Frank has contributed significantly to the success of Chevron,” said Chevron Chairman and CEO … Read more
Shell missed fourth-quarter profit expectations on Thursday with an 11% drop to the lowest level since early 2021 amid weaker oil prices, but kept its bumper share buyback programme. Shareholders of oil majors have become used to huge buybacks, but lower oil and gas prices ahead of an expected crude and liquefied natural gas glut have … Read more
HOUSTON, Feb. 05, 2026 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) (“Vaalco” or the “Company”) today announced that it had entered into an agreement for the sale of all of its non-core producing properties in Canada to a third party for approximately $35.0 million Canadian Dollars (USD $25.6 million), subject to customary closing … Read more
Summary Expiration of 30% federal homeowner tax credit triggers downturn and layoffs in residential solar Installations forecast to drop sharply in 2026, delaying industry recovery Installers shifting to third-party ownership models that still qualify for federal incentives (Reuters) – U.S. residential solar companies are preparing for a steep drop in business this year after … Read more
(Reuters) – ConocoPhillips said on Thursday it aims to cut capital and operating costs by $1 billion in 2026, after the U.S. oil and gas producer missed Wall Street estimates for fourth-quarter profit due to weaker crude prices. Oil producers have been under mounting pressure from falling prices, prompting efforts across the sector to rein in spending, scale … Read more
Summary US, Iran prepare for talks on Friday About a fifth of global oil consumption passes through Strait of Hormuz Volatility leads to record WTI Midland contracts in January Brent crude still close to five-month high (Reuters) – Oil prices fell more than 2% on Thursday but held close to multi-month highs after the U.S. … Read more
U.S. energy firms likely pulled a bigger-than-usual 374 billion cubic feet of natural gas from storage last week as an Arctic freeze boosted heating demand, according to the average estimate in a Reuters poll released on Wednesday. That figure compares with a draw of 195 bcf during the same week a year ago, and a … Read more
Investors rushed to lock in oil prices at record levels in January amid concerns around Iranian crude supplies and more Venezuelan barrels heading to the U.S. Gulf Coast. Hedging can help producers reduce risk and protect their production from sharp moves in the market by locking in a price for the oil. It can … Read more
(Reuters) – Canadian oil sands producer Suncor Energy will present the market this spring with options it is considering for securing long-term bitumen supply, the company’s chief executive said on Wednesday. The bitumen supply question will be one of the central themes of a new long-term vision the company plans to unveil at a March … Read more
By Ella Feldman Argentina, Guyana and Brazil remain poised to drive oil production growth in South America for years to come despite the US push for investment in Venezuela, Rystad Energy says. The consulting firm estimates flagship projects in the three countries will add more than 700,000 barrels per day in oil production this year, … Read more
By Priscila Azevedo Rocha Richard Holtum Photographer: Aaron M. Sprecher/Bloomberg Trafigura Group Chief Executive Officer Richard Holtum said the liquefied natural gas industry needs a “bit of innovation” when it comes to financing projects. “I feel sorry for LNG projects in the US,” Holtum said on a panel at the LNG 2026 conference in Doha. … Read more
Smith’s criteria suggest Prince Rupert may be the top option, as the city is already home to Canada’s third-largest port By Thomas Seal Danielle Smith said last week she and B.C. Premier Eby share “so much common ground” on resource development, including the possibility of expanding Trans Mountain again. Photo by Blair Gable/Postmedia files Alberta … Read more
(Reuters) – U.S. crude stocks and distillate inventories fell while gasoline inventories rose in the week ending January 30, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.5 million barrels to 420.3 million barrels last week, the EIA said, compared with analysts’ expectations in a Reuters poll for a 489,000-barrel rise. Crude … Read more
(Reuters) – Norway’s Socialist Party has withdrawn its support for a proposal to block Equinor’s Hammerfest liquefied natural gas plant from receiving a planned onshore power connection, clearing the way for the grid development to proceed. Parliament is due on Thursday to vote on an opposition proposal seeking to revoke the LNG plant’s planned link … Read more
(Reuters) – The U.S. government is working to issue as early as this week a general license allowing companies to produce oil and gas in Venezuela, as Washington seeks to encourage expanded output in the OPEC nation since capturing its president, three sources close to the matter told Reuters. The move by the Treasury’s Office … Read more
Feb 3 (Reuters) – Marathon Petroleum reported fourth-quarter profit above Wall Street estimate on Tuesday, as a 44% jump in refining margins underscored stronger operational performance after a prolonged downturn in 2024. Shares of the country’s top refiner gained nearly 7% in premarket trading. U.S. fuel maker margins have begun to rebound from multi-year lows … Read more
Summary Trump wants India to stop buying Russian oil India keeps silent but has reduced imports Russia has cut price of oil, budget suffers US pressure rises at critical moment in Ukraine peace talks (Reuters) – Russia faces a steep drop in oil income if U.S. President Donald Trump successfully pressures India to stop importing Russian … Read more
(Reuters) – Oil refiners on the U.S. Gulf Coast are struggling to absorb a rapid surge in Venezuelan crude shipments since last month’s flagship $2 billion supply deal between Caracas and Washington, pressuring prices and leaving some volumes unsold, according to traders and shipping data. The soft U.S. demand represents an early obstacle for President … Read more
(Reuters) – Commonwealth LNG said on Tuesday it has signed a 20-year sale and purchase agreement to supply 1 million tons per annum of liquefied natural gas to Mercuria. Under the deal, Mercuria will provide 1 million tons of natural gas per year to Commonwealth, and Commonwealth will convert it into LNG for Mercuria to … Read more
(Reuters) – The United States has now returned to the Venezuelan government all $500 million from the initial sale of oil that was part of a deal reached between Caracas and Washington last month, a U.S. official said on Tuesday. The last $200 million from the sale has been sent to Venezuela, the official said, speaking … Read more
Summary Investors monitor Washington-Tehran developments Drone attack and tanker incident in focus Prices also supported by US inventory draw (Reuters) – Oil prices rose on Wednesday after the U.S. shot down an Iranian drone and armed Iranian boats approached a U.S.-flagged vessel, rekindling fears of an escalation between Washington and Tehran ahead of planned talks. … Read more
By Emily Chow and Yousef Saba DOHA, Feb 3 (Reuters) – Malaysia’s state-owned firm Petronas is set to sign a liquefied natural gas supply deal with QatarEnergy as the southeast Asian nation seeks more supplies of the super-chilled fuel, two sources familiar with the matter told Reuters. Petroliam Nasional, or Petronas, will sign a contract … Read more
Feb 3 (Reuters) – Ukrainian Energy Minister Denys Shmyhal said on Tuesday that a power plant in Kyiv’s eastern suburbs had been seriously damaged in overnight Russian attacks, prompting officials to redirect resources to restoring heating to thousands of residents. Shmyhal, writing on Telegram after a meeting devoted to energy issues, said the plant in … Read more
DENVER, Feb. 3, 2026 /CNW/ – Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (“Ovintiv” or the “Company”) announced today that it has completed its acquisition of all of the common shares (“NuVista Shares”) of NuVista Energy Ltd. (TSX: NVA) (“NuVista”) in a cash and stock transaction valued at $2.7 billion. The acquisition is expected to add approximately 930 net 10,000-foot equivalent … Read more
(Reuters) – A rush by U.S. utilities and tech giants to snap up as many gas turbines as possible to boost local power output is causing a global shortage of gas-power equipment and may spur other power systems to fast-track cleaner alternatives. The amount of U.S. gas-fired capacity that is under construction has more than … Read more
NEW YORK, Feb. 2, 2026 /PRNewswire/ — Kimmeridge Energy Management Company, LLC, a private investment firm focused on the energy sector, today issued the following statement in response to an announced definitive agreement for Coterra Energy (NYSE: CTRA) and Devon Energy (NYSE: DVN) to merge in an all-stock transaction. Mark Viviano, Managing Partner at Kimmeridge, … Read more
By Dorothy Ma Nine Energy Service Inc., a Houston-based oil field vendor, filed for Chapter 11 bankruptcy on Sunday as it struggled with high leverage and a shrinking business amid a slowdown in drilling programs. The deal will see a “complete equitization” of its $320 million first-lien notes due 2028, according to . The company … Read more
By Emily Chow, Yousef Saba and Andrew Mills AI and data centres seen driving rising LNG demand Asia, led by China and India, to drive LNG demand growth LNG prices may soften with new supply DOHA, Feb 2 (Reuters) – Growing electricity demand from AI and data centres, together with rising fuel use in Asia … Read more
(Reuters) – Venezuela’s oil exports bounced to some 800,000 barrels per day (bpd) in January under U.S. control, from 498,000 bpd in December, following the capture of President Nicolas Maduro and the end of an oil blockade on the country, which has allowed traders to carry most exports, shipping data showed. Washington in December imposed … Read more
(Reuters) – Crude oil producers in the United States continued bringing oil wells back online on Monday, with only around 0.7% of national output still halted in the aftermath of a winter storm that ravaged production last month. Some 100,000 barrels per day of crude output remained shut, according to consultancy Energy Aspects, with outages … Read more
By Robert Cyran (Reuters Breakingviews) – The United States’ transformation into the world’s biggest oil producer has been dramatic. It is also mostly over. Thanks to a combination of declining prime acreage and modest market prices for oil, the name of the game for the producers who turned American shale patches into free-flowing gushers is … Read more
Summary Prices steady after geopolitical risk premiums fade Firm US dollar weighs on oil markets Russia’s Novak expects oil demand to pick up in March, April Reuters) – Oil prices steadied on Tuesday, after falling over 4% in the previous session, as market participants considered the global supply outlook and the possibility of a de-escalation … Read more
(Reuters) – Exports of liquefied natural gas from the U.S. fell in January to 11.3 million metric tonnes – down from December’s record of 11.5 MT – as a winter freeze late in the month shuttered some plants and lowered output at others, preliminary data from financial firm LSEG show. Gas flows into U.S. LNG … Read more
(Reuters) – The Trump administration is dropping a 25% additional tariffs imposed on Indian imports over its purchases of Russian oil, in addition to lowering a country-specific tariff to 18% from 25%, a White House official said on Monday. “We are also dropping the 25% tariff given India’s agreement to stop buying Russian oil,” the … Read more
By Skylar Woodhouse and Shruti Srivastava President Donald Trump said he will slash tariffs on India to 18% after Prime Minister Narendra Modi agreed to stop buying Russian oil, easing tensions between the two countries. Trump said Monday on social media that, following a phone call with Modi, he will lower his tariff on Indian … Read more
Artificial intelligence already has a big footprint in stocks. Now lending for data centers is becoming a factor in bonds and credit. By Paula Seligson More than $3 trillion. That’s the staggering price tag to build the data centers needed to prepare for the artificial intelligence boom. Not even the world’s biggest technology companies—not Amazon.com, … Read more
China’s rapid adoption of electric trucks — which overtook gas-powered vehicle sales for the first time last year — is threatening a key source of demand for the country’s suppliers of the fossil fuel. Sales of heavy-duty trucks powered by batteries and other new energy sources hit a record in December, helping lift the full-year … Read more
By Julian Hast, Stephen Stapczynski, and Sing Yee Ong US natural gas futures plummeted on Monday as weather forecasts for mid-February shifted significantly warmer, marking the largest daily loss for the front-month contract on a percentage basis since 1995, excluding contract rollover days. The March contract settled down 25.7% to $3.237 per million British thermal … Read more
OKLAHOMA CITY and HOUSTON, Feb. 02, 2026 (GLOBE NEWSWIRE) — Devon Energy (“Devon”) (NYSE: DVN) and Coterra Energy (“Coterra”) (NYSE: CTRA) today announced the signing of a definitive agreement to merge in an all-stock transaction. The combination will create a leading large-cap shale operator with a high-quality asset base anchored by a premier position in … Read more
(Reuters) – Shell’s CEO Wael Sawan said on Monday that the liquefied natural gas (LNG) sector was expanding at a rate of about 3% per annum, outpacing the gas market.
United Steelworkers members at BP’s 440,000-barrel-per-day refinery in Whiting, Indiana agreed to a rolling 24-hour contract extension at the largest refinery in the U.S. Midwest, the company said in a statement on Sunday.This would mean that the current collective bargaining agreement would automatically renew every 24 hours unless either the union or BP cancels the … Read more
Reuters There are two factors that are largely beyond the control of OPEC+ and they are likely to determine the price of crude oil in the coming weeks. The first is whether U.S. President Donald Trump does decide to start a shooting war with Iran, and if he does whether both sides will be able … Read more
Across the U.S. energy and industrial landscape, inspection programs are evolving rapidly. In sectors such as oil and gas, petrochemicals, refining, and heavy manufacturing, operators face constant pressure to improve safety, reduce unplanned downtime, and extend asset life. Facilities are often large, complex, and high-risk environments. Equipment failures can result in costly shutdowns, environmental incidents, … Read more
ABOARD AIR FORCE ONE – (Reuters) – U.S. President Donald Trump on Saturday said India will buy Venezuelan oil, helping to replace some of the Russian oil that the world’s third-biggest oil importer buys. “We’ve already made that deal, the concept of the deal,” Trump told reporters aboard Air Force One as he traveled to … Read more
Summary Strike averted on a rolling 24-hour basis, union says Union has rejected at least five Marathon proposals Last proposal would have provided 14% pay increase over four years (Reuters) – The United Steelworkers union said late on Saturday it would extend talks with Marathon Petroleum, averting a strike by 30,000 workers at U.S. refineries … Read more
Devon, Coterra merge to create U.S. shale giant in $58 billion deal Feb 2 (Reuters) – Devon Energy and Coterra Energy on Monday decided to merge in a $58 billion all-stock deal, to become a large-cap producer with a top position in the Permian Basin as the shale sector consolidates to cut costs and boost scale. The … Read more
Summary Prices fall from multi-month highs as U.S.-Iran tensions ease Trump says Iran ‘seriously talking’ with Washington Geopolitical risks mask a bearish oil market, analysts say (Reuters) – Oil prices fell 5% on Monday after U.S. President Donald Trump said Iran was “seriously talking” with Washington, signalling a de-escalation of tensions with an OPEC member, … Read more
(Reuters) – Eight OPEC+ countries have agreed in principle to maintain a planned pause in their oil output hikes for March, according to three OPEC+ sources and a draft statement seen by Reuters ahead of their Sunday meeting. The countries had agreed the pause in output hikes for the first quarter in November. The … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since December, 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, rose by two to … Read more
U.S. crude output is expected to be down 379,000 barrels per day in the lower 48 states for the month of January, according to consultancy Rystad, as operators kept restoring production after a winter storm knocked off up to 2 million bpd of output last weekend. U.S. crude output from the lower 48 states was … Read more
FuelMaxx is a state-of-the-art fuel modulator device engineered to optimize diesel combustion, delivering measurable fuel savings and reduced emissions across all types of heavy-duty diesel equipment and vehicles. Designed with durability and performance in mind, FuelMaxx operates completely maintenance-free, requiring no filters, additional fluids, or routine servicing—ensuring maximum uptime and operational efficiency. By … Read more
Summary Iran says defense capabilities not for discussion US issues new Iran-related sanctions Trump names Kevin Warsh for Fed chair Oil benchmarks set for highest monthly gains in since 2022 (Reuters) – Oil prices dipped a few cents per barrel on Friday, consolidating recent gains and holding near six-month highs on Friday, supported by nagging … Read more
Summary Exxon, Chevron cautious on Venezuela investments despite U.S. push Exxon, Chevron CEOs stress need for legal, political stability Venezuela’s political shifts may benefit Exxon, Chevron in Guyana (Reuters) – U.S. oil majors Exxon Mobil and Chevron offered investors a few pieces of new insight into their thinking about Venezuela on Friday, even though neither company announced … Read more
(Reuters) – All of North Dakota’s crude production was back online on Friday, state regulators said, after recovering from an arctic blast from a winter storm that has disrupted production nationwide. North Dakota is the third-largest oil-producing U.S. state, and output totaled 1.189 million barrels per day in November, the latest monthly data from the … Read more
(Reuters) – Chevron CEO Mike Wirth said on Friday the U.S. oil major can process an additional 100,000 barrels per day of Venezuelan crude at its refineries. “We’ve been bringing about 50,000 barrels a day, give or take, into our Pascagoula, Mississippi, refinery on the Gulf Coast. We can take another 100,000 barrels a day … Read more
(Reuters) – Mexico’s President Claudia Sheinbaum said on Friday her country would seek diplomatic solutions and alternatives to help Cuba after the United States threatened tariffs on nations that supply the Caribbean nation with oil. “We need to know the scope because we don’t want to put our country at risk in terms of tariffs,” … Read more
Chevron CEO Mike Wirth said on Friday the U.S. oil major was in discussions with the governments of Iraq and Libya to look at existing producing oilfields and evaluate exploration opportunities. The company needed to see compelling investment return potential in those countries, Wirth added. Reporting by Vallari Srivastava in Bengaluru and Sheila Dang in … Read more
(Reuters) – The United States supplied 60% of the European Union’s liquefied natural gas this month, data showed on Friday, confirming its role as Europe’s dominant LNG supplier as some European officials become wary of growing reliance on U.S. energy. The 60% share was an increase from both last month and January 2025, when the … Read more
Extreme cold forced Hydro-Québec to temporarily suspend its energy exports to Massachusetts just one week after inaugurating its new line. Hydro-Québec and the Massachusetts Executive Office of Energy and Environmental Affairs both confirmed the news, which was first reported by specialized media outlet E&E News. The decision came as last weekend’s polar vortex led to … Read more
By Dorothy Neufeld | Graphics/Design: Amy Kuo Key Takeaways Foreign holdings of U.S. Treasuries hit an all-time high of $9.4 trillion in November, despite notable selloffs from China and India. Japan’s holdings of U.S. debt increased 11% annually to reach $1.2 trillion, while Canada’s purchases climbed 27% over the period, with the total now at … Read more
(Reuters) – The United Steelworkers union rejected a comprehensive contract offer from Marathon Petroleum in talks for a national pattern agreement for U.S. refinery and chemical plant workers, the union said on Wednesday night. The USW and Marathon, lead negotiators for energy companies, face a 12:01 a.m. deadline on Sunday to hammer out a new … Read more
(Reuters) – Exxon Mobil CEO Darren Woods told analysts on Friday that the company has the technology that would be needed to produce higher cost barrels from Venezuela. While he had previously called the South American country “uninvestable” in remarks earlier this month at a White House meeting that later drew a rebuke from President … Read more
By Naureen S Malik and Ari Natter As many as 151 million Americans are at high risk of power shortfalls — or outright blackouts — over the next five years because of extreme weather, natural gas system vulnerabilities and soaring electricity demand, according to a report by the grid reliability regulator. Areas deemed at high … Read more
By Gavin Maguire LITTLETON, Colorado, Jan 30 (Reuters) – While North America and Europe scramble to build the data centers needed to run 21st-century businesses, many emerging markets remain anchored to 20th-century products like steel, cement and plastics for job creation and economic growth. That divergence is splitting energy transition trajectories, too. In the U.S. … Read more
By Ahmad Ghaddar, Olesya Astakhova and Alex Lawler OPEC+ likely to keep current output policy, sources say Brent crude prices rise to highest since August Kazakhstan’s Tengiz oilfield recovering from disruptions LONDON, Jan 30 – OPEC+ is likely to keep its pause on oil output increases for March when it meets on Sunday, five delegates … Read more
By Ron Bousso LONDON, Jan 30 (Reuters) – Oil prices remain stuck in a narrow band even after soaring 15% in January, partly on fears of a fresh U.S. strike on Iran. Tough talk on either side is unlikely to push crude prices much higher, given today’s well-supplied market. What would be needed is big-time … Read more
Reported earnings of $2.8 billion; adjusted earnings of $3.0 billion Cash flow from operations of $10.8 billion; adjusted free cash flow of $4.2 billion Increased 2025 worldwide and U.S. production by 12 and 16 percent to record levels Reserve replacement ratio of 158 percent in 2025 Announces a 4 percent increase in quarterly dividend to … Read more
Summary Chevron evaluates investment opportunities in Venezuela amid geopolitical changes Q4 profits exceed estimates despite lower crude prices, focus on cost-cutting Tengiz maintenance and weather impact Q1 production, expected to recover soon HOUSTON, Jan 30 (Reuters) – Chevron’s fourth-quarter profits fell but came in ahead of estimates as it focused on cutting costs and making its … Read more
Summary Freeport LNG shutdown impacts global gas prices US gas futures rise, European prices fall on Freeport news Freeport’s Train 3 shut due to compressor issue No comment from Freeport LNG officials NEW YORK, Jan 30 (Reuters) – Freeport LNG’s export plant in Texas was on track to take in more natural gas on Friday … Read more
Summary Exxon Mobil reports Q4 adjusted EPS $1.71 vs estimate of $1.68 Exxon achieves highest annual upstream production in 40+ years Exxon plans $20 billion share buyback through 2026 HOUSTON, Jan 30 (Reuters) – Exxon Mobil beat Wall Street targets in fourth-quarter earnings reported on Friday, with higher oil production in profitable Permian Basin and Guyana … Read more
(Reuters) – Petrochemicals maker LyondellBasell on Friday posted a surprise loss for the fourth quarter and said it aims to save $1.3 billion by the end of 2026, as it continues to keep a tight lid on costs amid volatility in feedstock and energy prices. LyondellBasell’s shares, however, rose 1.5% in premarket trading as the … Read more
U.S. President Donald Trump on Thursday signed an executive order declaring a national emergency and establishing a process to impose tariffs on goods from countries that sell or otherwise provide oil to Cuba, the White House said.
(Reuters) – The risk of U.S. power outages is worsening due to a changing mix of electricity supplies and rapidly growing demand in the winter months, the North American Electric Reliability Corporation said on Thursday. Before the end of the decade, the Mid-Atlantic, Midwest, Northeast and Texas regions may be at high risk of power … Read more
(Reuters) – The largest U.S. electric grid on Thursday operated near record levels for demand amid frigid temperatures as weather forecasters predicted another Arctic blast over the weekend. The PJM Interconnection, which manages the flow of electricity for 67 million people in 13 Midwest and Mid-Atlantic states and Washington, D.C., reported electric demand at about … Read more
(Reuters) – The Trump administration on Thursday eased some sanctions on the Venezuelan oil industry as it seeks to expand production there after U.S. forces ousted the South American country’s President Nicolas Maduro on January 3. The U.S. Treasury issued a general license authorizing transactions involving the government of Venezuela and state oil company PDVSA … Read more
(Reuters) – U.S. natural gas futures jumped 140% over the past seven trading days, and cash gas and power prices hit record highs this week as an Arctic blast sent heating demand soaring and froze oil and gas wells, cutting gas output to a two-year low. The sharp jump in power prices will ultimately hit … Read more
(Reuters) – Coterra Energy and Devon Energy could announce an agreement to merge as soon as next week, in what would be the largest oil and gas deal in the U.S. shale industry in almost two years, a source familiar with the matter told Reuters on Thursday. The Financial Times was the first to report … Read more
Summary Trump names Kevin Warsh for Fed chair Brent crude set for biggest monthly jump since January 2022 WTI set for largest monthly gain since July 2023 (Reuters) – Oil prices slipped on Friday on signs that the U.S. may engage in dialogue with Iran over its nuclear programme, reducing concern over potential supply disruptions … Read more
(Reuters) – Lawmakers are expected to discuss on Thursday a sweetened reform of Venezuela’s main oil after a proposal submitted by interim President Delcy Rodriguez was modified to introduce a new hydrocarbon tax, the possibility of asset privatizations and oilfield operation outsourcing, a draft seen by Reuters showed. The changes are expected to encourage oil … Read more
(Reuters) – U.S. crude production continued to recover on Thursday after a winter storm ravaged production and losses peaked at 2 million barrels per day over the weekend, while analysts adjusted output forecasts for January in the aftermath of outages. Nearly all of North Dakota’s production was back online, Justin Kringstad, director of North Dakota … Read more
(Reuters) – The U.S. Navy has sent an additional warship to the Middle East, a U.S. official told Reuters on Thursday, amid a large military buildup in the region and soaring tensions. The official, who was speaking on the condition of anonymity, said the USS Delbert D. Black had entered the region in the past … Read more
(Reuters) – The Arctic is no longer a frozen periphery, especially not after the U.S. spat with Europe over Greenland. As sea ice melts, the High North is emerging as a strategic hub for energy, shipping and critical minerals. It is warming nearly four times faster than the rest of the planet, but what’s also … Read more
(Reuters) – Europe’s vast natural gas storage network is set to exit winter at its lowest level in years, yet market prices indicate a complacency starkly at odds with the enormous challenge traders face in refilling inventories. Replenishing underground storage has become a central feature of Europe’s gas market – and by extension, the international … Read more
(Reuters) – The U.S. upstream mergers and acquisitions market regained momentum after a mid-year slowdown in the fourth quarter of 2025 reaching $23.5 billion in announced deals and pushing full-year activity to $65 billion, analytics firm Enverus said on Wednesday. The rebound was driven by motivated buyers including refunded private equity teams, increased use of … Read more
(Reuters) – New York’s environmental regulator said on Wednesday that it filed with federal energy regulators to oppose Williams Cos-led Constitution Pipeline’s bid to revive a permit to build the proposed, previously canceled natural gas pipeline from Pennsylvania to New York. Constitution recently petitioned the U.S. Federal Energy Regulatory Commission to reissue a Certificate of … Read more
By Liz Hampton and Georgina McCartney (Reuters) – U.S. crude stocks fell while gasoline and distillate inventories rose last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 2.3 million barrels to 423.8 million barrels in the week ended January 23, the EIA said, compared with analysts’ expectations in a Reuters poll … Read more
WASHINGTON, Jan 28 (Reuters) – The United States is handing over a tanker to Venezuela that it seized this month, two U.S. officials told Reuters on Wednesday, the first known instance in which President Donald Trump’s administration has returned such a tanker. The United States has been carrying out a months-long effort to seize oil … Read more
Summary US-Iran tensions remain key near-term price driver Markets pricing in geopolitical risk premiums US winter storms, Kazakh outages, also adding support (Reuters) – Brent oil futures prices jumped on Thursday, hitting a four-month high on rising concerns of the potential impact a possible U.S. military attack on Iran, OPEC’s fourth-largest producer, with output of … Read more
Citi said on Wednesday that oil prices may stay elevated due to rising geopolitical risks, U.S. restrictions on Russian oil purchases and continued Chinese buying, even as markets entered the year expecting a large oversupply. “Further geopolitical escalation can lift prices to our 0-3m target of $70 a barrel,” the bank said in a note. … Read more
Summary Exxon, Chevron Q4 earnings could be overshadowed by geopolitical intrigue Chevron in the spotlight on Venezuela, only US oil major operating there Exxon signals potential $1.2 billion cut in upstream earnings from low oil prices (Reuters) – Exxon Mobiland Chevron executives may face more questions about their investment opportunities in Venezuela than their actual … Read more
By Nicole Jao NEW YORK, Jan 22 (Reuters) – Top U.S. oil refiners are expected to post stronger fourth-quarter profits as product margins spurred by the ongoing Russia-Ukraine war boosted earnings, energy analysts said. Fuel makers have reaped unexpected profits this year, after from record levels in 2022, a year when a recovery in demand … Read more
Summary Lukoil agrees to sell global assets to Carlyle Group Foreign assets worth about $22 billion -analysts The value of the deal has not been disclosed Transaction with Carlyle dependent on U.S. approval Deal excludes Lukoil’s assets in Kazakhstan, CPC (Reuters) – U.S. private equity firm Carlyle Group has agreed to buy most of Lukoil’s … Read more
By Scott Disavino and Curtis Williams BP and Shell imported LNG from Trinidad amid U.S. winter storm Spot gas prices hit all-time highs due to increased demand and frozen wells Elba Island and Cove Point received unusual LNG imports for high-price opportunity HOUSTON/NEW YORK, Jan 28 (Reuters) – Several liquefied natural gas companies took the … Read more
(Reuters) – Gulf governments are stepping up infrastructure deals with foreign investors, with Kuwait set to launch an oil pipeline network stake sale as soon as February in a deal that could raise up to $7 billion, three sources with knowledge of the matter said. The shift comes as oil prices, down more than 25% … Read more
By Tim McLaughlin and Laila Kearney Transmission congestion leads to soaring electricity prices Natural gas supply issues contribute to generator outages and price spikes PJM high-voltage line restrictions expected to average nearly 13 hours on Thursday BOSTON/NEW YORK, Jan 28 (Reuters) – Transmission line congestion on the largest U.S. power grid is expected to soar … Read more
By Georgina McCartney HOUSTON, Jan 28 – U.S. crude oil producers were bringing wells back online on Wednesday following a severe winter storm that swept across the country over the weekend, straining energy infrastructure and power grids. Domestic crude output is now estimated to be down around 600,000 barrels per day, roughly 4% of total … Read more
(Reuters) – Oil producer Chevron is set to boost exports of Venezuelan crude to the U.S. to some 300,000 barrels per day (bpd) in March, from 100,000 bpd in December and some 230,000 bpd so far this month, two sources with knowledge of the plans said on Wednesday. The U.S. company, which is the main … Read more
Raising funds from oil and gas infrastructure assets, while retaining control, is now firmly part of the playbook of Gulf Arab national oil companies, helping them raise billions of dollars for their ambitious diversification plans. Reuters reported on Wednesday that Kuwait could launch a deal to offer investors a stake in its oil pipeline assets … Read more
By Kate Abnett BRUSSELS, Jan 28 – U.S. President Donald Trump’s push to take over Greenland has been a “wake-up call” to European governments to increase their energy security, the EU’s head of energy policy said on Wednesday. Europe has rapidly increased imports of liquefied natural gas from the U.S. as it races to cut … Read more
By Vallari Srivastava and Sumit Saha Jan 28 (Reuters) – GE Vernova (GEV.N) said on Wednesday that its wind power unit might take about $250 million revenue hit this year due to installation delays at an offshore Massachusetts project and that it was expecting a drop in order backlog. The company said the failure to … Read more
By Julian Hast US natural gas declined in thin trading on Wednesday as some gas production came back into service after being knocked offline by a powerful winter storm that sparked a record-shattering rally. February futures contract dropped 6.1%, or 42 cents, to $6.531 per million British thermal units as of 10:31 a.m. in New … Read more
By Ari Natter A $1.8 billion loan guarantee to an Arizona utility to deploy clean energy are among the projects the Energy Department has canceled following a review of loans made during former President Joe Biden’s administration, according to the department. The conditional loan guarantee to Arizona Public Service Company, a subsidiary of Pinnacle West … Read more
By Mark Chediak and Brian Dowling A US judge said a nearly completed, $4.5 billion wind project off the coast of Massachusetts can resume construction weeks after the Trump administration required all such developments to stop work. US District Judge Brian Murphy on Tuesday granted Vineyard Wind’s request for a preliminary injunction, effectively reviving the … Read more
Infusion of fresh capital and international buyers sharpens competition CALGARY, Alberta (January 28, 2026) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, is releasing its summary of 4Q2025 U.S. upstream M&A activity and full-year analysis. After a midyear slowdown, U.S. upstream M&A … Read more
The European Union’s competition chief warned on Wednesday that the region was becoming increasingly dependent on liquefied natural gas (LNG) imports from the United States and should look at how it can best harness local resources. “We are significantly increasing our dependence on liquefied natural gas imported from the U.S.,” European Commission Executive Vice President … Read more
A severe winter storm that brought heavy snow, sleet and freezing rain has left more than 400,000 homes and businesses without power across a swath of the U.S., from the Ohio Valley and mid-South region to New England. The hardest-hit utilities included Nashville Electric Service (NES) in Tennessee, where 109,156 of 463,455 customers were without … Read more
Summary Shell seeks license for Loran-Manatee discovery, minister says BP seeking to develop Cocuina-Manakin field, minister adds First production from Dragon field hoped for in fourth quarter 2027 (Reuters) – Shell and BP are seeking U.S. licenses to extract natural gas from fields in Trinidad and Tobago and Venezuela, the Caribbean country’s energy minister Roodal Moonilal said … Read more
(Reuters) – Iran’s worst unrest in years has prompted sharp U.S. warnings to Tehran against killing protesters or restarting its nuclear program. Analysts warn that further escalation could push Tehran to target tankers in the Strait of Hormuz or even attempt to shut the waterway, which is vital for oil exports. Below are details about the strait: WHAT … Read more
U.S. officials have said publicly they want the interim president to sever relations with close international allies like Iran, China and Russia, including expelling their diplomats and advisers from Venezuela. But Rodriguez, whose swearing-in ceremony was attended by representatives of those countries early this month, has yet to publicly announce such a move. She became … Read more
(Reuters) – U.S. officials are working to issue a general license soon that would lift some sanctions on Venezuela’s energy sector, three sources familiar with the preparation said on Tuesday, a shift from a previous plan to grant individual exemptions to sanctions for companies seeking to do business in the country. Following the U.S. capture … Read more
By Lara Williams Donald Trump’s hatred of wind power continues. In a speech in Davos last week that managed to upset almost everyone, the US president still found time to get in a few trademark digs at renewable energy. “There are windmills all over Europe… and they are losers,” he said, in a strange anthropomorphism. … Read more
Summary Winter storm disrupts US crude output and exports OPEC+ likely to maintain pause on output increases, sources say US dollar near four-year lows (Reuters) – Oil prices hit their highest since late September on Wednesday after a winter storm disrupted U.S. crude output while a weak U.S. dollar and continued Kazakh outages lent further … Read more
The dollar was on the ropes near multi-year lows on Wednesday after investors sold it aggressively when U.S. President Donald Trump seemed to shrug off its recent decline, while Wall Street marched on to fresh record highs. The dollar’s dive has hoisted the euro over $1.20 for the first time since 2021, sent the Australian … Read more
(Reuters) – The Trump administration has invited the oil and gas industry to nominate areas for a potential sale of offshore oil and gas leases in Southern and Central California to be held as soon as next year. WHY IT’S IMPORTANT The move is part of a push by U.S. President Donald Trump’s Interior Department … Read more
By Dmitry Zhdannikov and Aref Mohammed Chevron seeks improved terms for West Qurna 2 oilfield, sources say Iraq nationalized operatorship of oilfield after U.S. sanctions on Lukoil Iraq has improved oil contract terms in deals with majors in past two years (Reuters – BASRA/LONDON, Jan 27) – U.S. oil major Chevron is pushing Iraq to … Read more
(Reuters) – A commission of Venezuela’s National Assembly has received more than 80 proposals from politicians, lawyers and energy associations seeking changes to a reform of the country’s main oil law, sources close to the talks said, a blow for lawmakers rushing to have the reform approved next week. Interim President Delcy Rodriguez introduced the … Read more
(Reuters) – Mexican President Claudia Sheinbaum, pressed on Tuesday whether Mexico had halted oil shipments to Cuba amid pressure from Washington, said shipment decisions were sovereign in nature and not based on U.S. pressure. However, Sheinbaum appeared to acknowledge that Mexico had halted a planned shipment to Cuba. Asked at her regular morning press conference … Read more
(Reuters) – Exports of crude oil and liquefied natural gas from U.S. Gulf Coast ports tumbled to zero on Sunday before rebounding on Monday, after a massive winter storm swept across the country, ship-tracking service Vortexa said. An Arctic blast has pummeled the United States in recent days, straining energy infrastructure and power grids. Up … Read more
(Reuters) – Where exactly is the expected supply glut in the global crude market? The best answer is China, which saw storage flows surge in December, resulting in a surplus of more than 1 million barrels per day for 2025. China’s surplus of crude oil jumped to 2.67 million bpd in December, up from 1.88 … Read more
(Reuters) – U.S. spot natural gas and power prices soared to record highs in the northeastern part of the country as homes and businesses cranked up their heaters to escape an Arctic chill that cut gas output to a two-year low by freezing oil and gas wells and pipes earlier this week. Cash gas prices … Read more
(Reuters) – The largest U.S. regional electric grid on Tuesday reported nearly 18 gigawatts of power plant outages, leaving a region of 67 million people with a thin buffer of power supplies against frigid weather and a forecast for record-breaking winter demand. The PJM Interconnection reported that most of the generation outages are due to … Read more
(Reuters) – Germany must seek new partners in light of a changing global order, the country’s economy minister said on Tuesday, referring to deteriorated relations with the United States that have resulted in painful import tariffs. “The world has become more uncertain, and alliances that we have trusted and relied on are beginning to crumble,” … Read more
By Eric Roston and Brian Kahn A globe at the COP30 UN Climate Change Conference in Belem, Para State, Brazil. Photographer: Mauro Pimentel/AFP/Getty Images The US officially exited the Paris Agreement on Jan. 27. It’s the second time President Donald Trump has pulled out of the pact that commits almost 200 countries to keep global … Read more
By Emma Sanchez, Dani Burger, and Matthew Miller Baker Hughes Co., one of the world’s biggest oilfield contractors, said it plans to double its data center equipment order target to $3 billion over a three-year period, driven by surging demand for power to run artificial intelligence. The company expects to book roughly $3 billion of … Read more
By Lucia Kassai Chevron Corp. has assembled its largest fleet of vessels in almost a year to ship Venezuelan crude, after the US moved to exert control over the country’s oil sector following the capture of leader Nicolas Maduro. The oil major, which holds a license to export US-sanctioned crude, sent 15 vessels this month … Read more
Democrats shouldn’t be afraid to take more aggressive actions on clean energy, former Energy Secretary Jennifer Granholm said. By Michelle Ma and Mark Chediak President Donald Trump’s scorched-earth approach toward renewable energy can offer inspiration for a future Democratic administration looking to retake the initiative to cut emissions, according to Jennifer Granholm, energy secretary under … Read more
(Reuters) – Surging natural gas prices in the U.S. and Europe have dominated energy market attention so far this year, but several sector stocks that have hit multi-year highs likely encapsulate the broader themes driving energy investing in 2026 as a whole. A slew of North America-listed firms – including the makers of grid components, … Read more
(Reuters) – The head of Abu Dhabi National Oil Company (ADNOC) said global oil demand will remain above 100 million barrels per day through 2040, while demand for both liquefied natural gas (LNG) and electricity will grow by 50% or more. Managing Director and CEO Sultan Ahmed Al Jaber told the India Energy Week conference … Read more
(Reuters) – Oilfield services company Baker Hughes said on Monday that there is significant revenue opportunity in Venezuela, with the main considerations for operating there being safety and conditions for employees, and clarity on legal and regulatory frameworks. The Houston-headquartered company has been working with authorities on Venezuela after the U.S. earlier this month … Read more
U.S. natural gas futures soared by a record 114% over five days to a three-year high on Monday after an Arctic blast over the weekend froze oil and gas wells and pipes, cutting gas production to a two-year low on Sunday. On Monday, front-month gas futures for February delivery on the New York Mercantile … Read more
(Reuters) – Oil prices edged up on Tuesday as a massive winter storm hit crude production and affected refineries on the U.S. Gulf Coast, but the rise was curbed by a resumption in supply from Kazakhstan. Brent crude futures rose 23 cents, or 0.35%, at $65.82 a barrel as at 1017 GMT. U.S. West … Read more
By Julian Lee Oil traders seeking to plot the path for prices this year are juggling sharply different assessments of the supply-demand outlook, from a huge surplus to a broadly balanced market. The world’s three main forecasting agencies — the International Energy Agency, the US Energy Information Administration and the Organization of the Petroleum Exporting … Read more
LONDON, Jan 26 (Reuters) – Britain, Germany, Denmark and other European countries will sign a clean energy pact at a summit in Hamburg on Monday, pledging to deliver 100 gigawatts (GW) of offshore wind power through large-scale joint projects, the British government said. The agreement comes days after U.S. President Donald Trump stepped up criticism … Read more
By Ahmad Ghaddar and Olesya Astakhova LONDON/MOSCOW, Jan 26 (Reuters) – OPEC+ is expected to keep its pause on oil output increases for March at a meeting on Sunday, three OPEC+ delegates told Reuters, with prices rising due to a drop in Kazakhstan’s oil production. The meeting of eight members of OPEC+, which pumps about … Read more
(Reuters) – U.S. oil producers lost up to 2 million barrels per day or roughly 15% of national production over the weekend, analysts and traders estimated, as a winter storm swept across the country, straining energy infrastructure and power grids. Oil production outages peaked on Saturday, consultancy Energy Aspects estimated, with the Permian Basin likely … Read more
(Reuters) – U.S. shale production could fall by as much as 400,000 barrels of oil per day in 2026 if OPEC countries try to increase market share and oil prices fall to as low as $40 a barrel, according to Rystad Energy CEO Jarand Rystad. U.S. shale production could remain flat if prices stay close … Read more
(Reuters) – Cenovus Energy’s 172,000-barrel-per-day Lima, Ohio, refinery experienced mechanical issues caused by a major winter storm that hit much of the United States over the weekend, industry monitor IIR Energy said on Monday. The refinery experienced mechanical issues brought about by the storm on Sunday, IIR Energy said, adding that efforts to fix the … Read more
By Kate Abnett EU to halt Russian LNG by end-2026, pipeline gas by 2027 Companies face penalties for non-compliance with gas ban Hungary to challenge ban in court BRUSSELS, Jan 26 (Reuters) – European Union countries on Monday gave their final approval to ban Russian gas imports by late 2027, making their vow to cut … Read more
(Reuters) – U.S. natural gas futures soared by a record 89% over five days to a three-year high on Monday after an Arctic blast at the weekend froze oil and gas wells, cutting gas production to a two-year low on Sunday. On Monday, front-month gas futures for February delivery on the New York Mercantile Exchange … Read more
US natural gas jumped by almost 20% as freezing weather swept across much of the country, boosting heating demand and disrupting supplies. Front-month futures soared above $6 per million British thermal units for the first time since 2022. That followed a 70% rally last week, the biggest weekly advance in records going back to 1990. The … Read more
Ron Bousso (Reuters) – An Arctic blast sweeping across the U.S. Northeast and Midwest has triggered a sharp rally in natural gas prices on fears of production disruptions. The spike has reverberated across overseas markets, underlining the growing globalization of the U.S.-dominated liquefied natural gas trade. U.S. natural gas futures have surged by almost 70% over the … Read more
Houston firms eye Venezuela’s vast oil reserves amid political uncertainty Smaller investors see Venezuela as high-risk, high-reward opportunity US sanctions complicate oil trade, investment in Venezuela (Reuters) – In a downtown Houston bar, Matthew Goitia, a director at Pelorus Terminals, lays out his early idea to refurbish and build marine terminals that can blend and … Read more
Oil major Exxon Mobil’s subsidiary XTO Energy is seeking buyers for some of its assets in the Eagle Ford shale basin in South Texas, an Exxon spokesperson confirmed to Reuters in a statement. In recent days, top U.S. oil major Exxon opened a virtual data room to begin marketing the assets, two sources told Reuters earlier. The … Read more
(Reuters) – The U.S. takeover of Venezuela’s oil exports has re-routed crude barrels that were being used to service debt owed to China. How much does Venezuela owe China, and how and why was the country getting debt payments after Venezuela’s default? HOW MUCH DOES VENEZUELA OWE CHINA? Data on Venezuela’s debt is sketchy, particularly … Read more
By Arathy Somasekhar and Tanay Dhumal SLB says it is receiving lots of inquiries from customers about Venezuela Company had over $1 billion in annual revenue from Venezuela a decade ago Rival Halliburton has said it is working through mechanics around licenses HOUSTON, Jan 23 (Reuters) – U.S. oilfield service company SLB said on Friday … Read more
Power prices in the largest U.S. grid rose sharply on Sunday as demand in a region with the world’s largest concentration of energy-hungry data centers surpassed forecasts during a deep freeze gripping half the country. Real-time wholesale electricity prices topped $1,800 per MWh early Sunday in Dominion Energy’s Virginia territory, up from $200 per … Read more
Summary US winter storm disrupts crude production Geopolitical tensions with Iran add to market uncertainty Kazakhstan’s Caspian Pipeline resumes full capacity after maintenance (Reuters) – Oil prices edged higher on Monday after climbing more than 2% in the previous session, as output disruptions in major U.S. crude-producing regions and tensions between the U.S. and Iran … Read more
The United States is in talks with Chevron, other crude producers, and major oilfield service providers about a plan to quickly raise Venezuela’s crude production, Bloomberg News reported on Saturday, citing senior administration officials. Officials have discussed deploying SLB, Halliburton and Baker Hughes to repair and replace outdated equipment, and refresh older drilling sites, … Read more
Summary Snow, sleet, freezing rain, dangerous cold expected Sunday Federal emergency declarations approved in at least 12 states Outages impact states including Mississippi, Louisiana, Texas More than 10,000 flight cancellations on Sunday (Reuters) – More than 1 million customers in the U.S. as far west as New Mexico were without electricity and over 10,000 flights … Read more
By Robert Cyran NEW YORK, Jan 23 (Reuters) – Greenland deal or no, the international order is fraying. As the Trump administration ramped up – before stepping back from – brazen territorial claims, Canadian Prime Minister Mark Carney captured the mood at the World Economic Forum in Davos: “Great powers have begun using economic integration … Read more
The Mexican government is reviewing whether to keep sending oil to Cuba amid growing fears within President Claudia Sheinbaum’s administration that Mexico could face reprisals from the United States over the policy, which is a vital lifeline for the Communist-run Caribbean island, according to three sources familiar with the discussions. A U.S. blockade of oil … Read more
U.S. President Donald Trump’s administration is considering imposing a total blockade on oil imports to Cuba as part of possible new tactics to drive leadership change in the Caribbean country, Politico reported on Friday, citing three people it said were familiar with the plan. While no decision has been made, such a move has been … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks, 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, rose by 1 to 544 in the week to January … Read more
By Shariq Khan Trump escalates pressure against Iran Warships to arrive in Middle East in coming days, US official says US sanctions vessels involved in transporting Iranian oil Kazakhstan oil output yet to resume NEW YORK, Jan 23 (Reuters) – Oil prices settled at their highest in over a week on Friday after U.S. President … Read more
(Reuters) – HOUSTON, Jan 23 – North Dakota crude output is currently down by 80,000 barrels per day to 110,000 bpd as operators shut production in due to cold weather, the state regulator said on Friday. “It is warming up next week so I don’t anticipate any long term production impacts,” said Justin Kringstad, Director … Read more
(Reuters) – The United States, since its 2003 invasion of Iraq, has held effective control over the country’s oil revenue dollars, giving Washington extraordinary leverage over Baghdad’s affairs, with implications for regional dynamics involving Iran. How does the U.S. control Iraq’s oil revenues? The U.S. control over Iraq’s oil revenues primarily stems from the management … Read more
(Reuters) – Oil production in North Dakota rose 12,000 barrels-per-day (bpd) to 1,189,000 bpd in November, monthly data from the state Industrial Commission showed. Bakken and Three Forks oil production stood at 1,159,000 bpd in the month. The data was released on the North Dakota Industrial Commission’s general statistics webpage and has been rounded to … Read more
(Reuters) – U.S. natural gas futures rose on Friday and has gained over 68% so far this week, lifted by forecasts for extreme cold over the next two weeks that is expected to drive heating demand to near-record levels and freeze oil and gas wells, cutting output. On Friday, front-month gas futures for February delivery … Read more
(Reuters) – Kazakhstan’s energy ministry said on Friday that it had held talks on energy cooperation with the U.S. Department of Energy and the U.S. embassy in the Central Asian country, which is a major energy producer, accounting for around 2% of daily oil supply. In a statement posted on Telegram, the ministry said that … Read more
(Reuters) – SLB beat Wall Street estimates for fourth-quarter profit on Friday, helped by steady demand for its oilfield equipment and services in North America. U.S. crude production was expected to hit a record 13.41 million barrels per day in 2025, according to Energy Information Administration forecast, benefiting oilfield services companies. Quarterly revenue from SLB’s … Read more
(Reuters) – U.S. control of Venezuela’s oil exports has ensnared barrels that had been servicing debt to China, lining up another potential showdown between the two superpowers that could further complicate the South American country’s path out of default. Around a tenth of Venezuela’s $150 billion foreign debt pile is estimated to be loans from … Read more
US natural gas futures pared a record breaking three-day rally, after traders finished exiting short positions and the market braced for a historic winter storm. Front-month contracts dropped as much as 7.6% to $4.660 per million British thermal units on Friday, after surging 63% over the previous three sessions. Prices were still on track for their biggest … Read more
The oil-services giant is moving idled equipment overseas as US shale growth slows Halliburton Co. just offered some of the best evidence yet that fracking, which turned the US into the biggest oil and gas producer, is spreading around the world. The Houston-based company, which fracks more wells than anyone, said on Wednesday that it has shifted … Read more
Takeaways by Bloomberg AI The Trump administration has no plans to directly provide security to oil producers in Venezuela, according to Energy Secretary Chris Wright. Wright said the US involvement in controlling the flow of funds in Venezuela gives the US leverage to reduce criminality and improve business conditions. Wright plans to travel to … Read more
Takeaways by Bloomberg AI The Trump administration is canceling almost $30 billion of financing from the Energy Department’s green bank after reviewing transactions approved under former President Joe Biden. The Energy Department plans to revise another $53 billion of funding and has eliminated about $9.5 billion in financing for wind and solar projects. The Energy … Read more
Summary LNG futures to be listed on Shanghai Futures Exchange Contracts could shift market influence to China from West China’s LNG imports forecast to rise 12% this year (Reuters) – China is set to offer domestic-listed, yuan-denominated liquefied natural gas (LNG) futures contracts as soon as next month, people with knowledge of the matter said, … Read more
By Monique Mulima A sizzling rally in energy stocks over the past few months has the group reaching a new high as rising geopolitical uncertainty pushes investors to bet on elevated oil prices. The S&P 500 Energy Index rose 2.4% to close at $750.17 on Wednesday, making it the best performing sector in the S&P … Read more
By Sing Yee Ong, Elena Mazneva, and Julian Hast US natural gas futures surged about 75% in three days, rocketing to the highest price since 2022, as frigid weather sweeps across major markets for the heating fuel and forces traders to cover bearish positions. More than 175 million people across the country will face snow, … Read more
By Ruth Liao Venture Global Inc. won a dispute with Spain’s Repsol SA involving the sale of liquefied natural gas cargoes from its export plant in Louisiana. An arbitration tribunal found Venture Global acted as a “reasonable and prudent operator,” the company said in a filing Wednesday. The tribunal also awarded fees to Venture Global. … Read more
Summary Oil prices had dropped on Thursday as Greenland tension subsided Supply disruption concerns offered price support Kazakhstan’s Tengiz oilfield yet to resume output (Reuters) – Oil prices rebounded on Friday after U.S. President Donald Trump renewed threats against Iran, raising concerns of military action that could disrupt crude supplies while there are outages … Read more
Summary Wright criticizes EU and California’s green energy policies EU scales back corporate sustainability laws after pressure Occidental exited California due to state regulations, Hollub says (Reuters) – The world needs to more than double oil production, U.S. Energy Secretary Chris Wright said on Thursday, while criticizing the European Union and the U.S. state of … Read more
(Reuters) – Valero has bought a cargo of Venezuelan crude oil, two sources said on Wednesday, one of the first deals by U.S. Gulf Coast refiners that are part of Washington’s agreement with Caracas to export up to 50 million barrels. Phillips 66 has also purchased a cargo, one of the sources said. Both bought … Read more
(Reuters) – Winter electricity demand on the largest U.S. power grid – the PJM Interconnection – is expected to set an all-time record next week as large swaths of the United States brace for an Arctic blast of cold weather. PJM’s seven-day forecast on Thursday morning predicted 144,465 megawatts of demand on January 27. That … Read more
(Reuters) – The Trump administration is allowing China to purchase Venezuelan oil but not at “unfair, undercut” prices at which Caracas sold the crude before the U.S. removed its leader Nicolas Maduro, an administration official said on Thursday. While the oil will be sold in the global marketplace, the U.S. administration has required that the … Read more
(Reuters) – Investment firm Kimmeridge plans to nominate former Pioneer Natural Resources CEO Scott Sheffield to Coterra Energy’s board, the Wall Street Journal reported on Thursday, citing people familiar with the matter. Kimmeridge has said Coterra’s board must reassess its leadership structure and appoint an independent, non-executive chair, the report said, adding that it expects … Read more
(Reuters) – A profound proposed reform of Venezuela’s hydrocarbons law would allow foreign and local companies to operate oilfields on their own through a new contract model, commercialize output and receive sale proceeds even if acting as minority partners of state company PDVSA, drafts seen by Reuters on Thursday showed. Venezuela’s interim President Delcy Rodriguez … Read more
By Weilun Soon Rates to ship crude on tankers are surging more widely across the world after the US moved to exert control over Venezuelan flows, a trade once primarily handled by a dark fleet of aging vessels. Shipowners are deploying legitimate tankers near the US Gulf in anticipation of higher demand for vessels instead … Read more
BEIJING, Jan 22 (Reuters) – China defended its wind power record and reinforced its commitment to promote the global transition to low-carbon energy, after U.S. President Donald Trump’s criticism at the World Economic Forum annual meeting in Davos, Switzerland. “China’s efforts to tackle climate change and promote the development and application of renewable energy in … Read more
By Gavin Maguire LITTLETON, Colorado, Jan 22 (Reuters) – Judging by state and local filings alone, the U.S.’ data center computing capacity could jump by close to 1,000% if all projects currently planned come to fruition. That’s a big “if,” however, as it is widely known that some of the plans filed by so-called hyperscalers … Read more
DAVOS, Switzerland, Jan 22 (Reuters) – Global oil glut predictions are seriously exaggerated as demand growth remains strong and global oil stocks are depleted, Amin Nasser, chief executive of Aramco , the world’s biggest oil producer, said on Thursday. Oil prices have traded above $60 per barrel for most of 2025 with analysts predicting a decline … Read more
By Marianna Parraga Seven tankers departed Venezuela since January 12 under deal Crude is being stored in Caribbean terminals Many offers to final customers not leading to sales yet Jan 21 (Reuters) – Venezuelan oil exports under a flagship $2 billion supply deal with the U.S. reached about 7.8 million barrels on Wednesday, vessel-tracking data … Read more
(Reuters) – U.S. natural gas futures soared to a six-week high on Wednesday, marking a record 57% rise over the past two trading sessions, on expectations that extreme cold weather will boost heating demand to near-record levels while also cutting output by freezing oil and gas wells. After soaring about 26% on Tuesday, front-month gas … Read more
(Reuters) – Blackstone is in talks to sell its Beacon Offshore Energy, which operates oil and gas assets in the U.S. Gulf of Mexico for more than $5 billion, Bloomberg News reported on Tuesday, citing people familiar with the matter. The asset manager has begun early talks with investment banks about a possible listing of … Read more
Summary Trump steps back from tariff threats over Greenland IEA revises up forecasts for 2026 global oil demand growth US crude stocks up by 3.04 million barrels last week, API says (Reuters) – Oil prices slipped on Thursday, reversing the previous sessions’ gains, after U.S. President Donald Trump softened threats against Greenland and Iran, and as investors assessed the supply … Read more
By Nicole Jao NEW YORK, Jan 21 (Reuters) – U.S. refineries are preparing for extreme cold weather as an unexpected Arctic blast rolls in, threatening to disrupt operations. A cold front will bring frigid temperatures to the eastern two-thirds of the country, the National Weather Service said on Wednesday, expecting sub-zero lows to spread from … Read more
(Reuters) – The volume of Venezuelan oil exported under a flagship $2 billion supply deal with the U.S. reached about 7.8 million barrels on Wednesday, vessel-tracking data and PDVSA documents showed, highlighting slow progress that has prevented the state oil company from fully reversing recent output cuts. Caracas and Washington earlier this month agreed a … Read more
(Reuters) – Saudi Arabia’s crude oil exports in Nov rose to 7.378 million barrels per day from 7.098 million bpd in Oct, official data showed on Wednesday. Monthly export figures are provided by Riyadh and other members of the Organization of the Petroleum Exporting Countries (OPEC) to the Joint Organizations Data Initiative (JODI), which published … Read more
(Reuters) – U.S. Energy Secretary Chris Wright told oil company executives on Wednesday that Venezuela’s output can rise 30% from its current level of 900,000 barrels per day in the short- to medium-term, three executives who attended the meeting said. Raising crude output from Venezuela, which sits on the world’s largest oil reserves, is a … Read more
By Ron Bousso (Reuters) – Spiralling trade tensions between the U.S. and Europe over President Donald Trump’s bid to buy Greenland have once again left the bloc highly vulnerable in a geopolitical tussle because of its heavy dependence on a single supplier for its critical energy needs. Less than four years ago, Europe’s economy was … Read more
The latest IEA’s Monthly Gas Statistics report including October 2025 data shows that for Total OECD: Production of natural gas increased by 2.6% compared to October 2024. Imports (entries)1 of natural gas were 8.4% higher on a year-on-year basis, and total OECD exports (exits)1 increased by 10.5% in the same period. Gross consumption of natural gas increased by 5.0% compared to October 2024. 1Transit … Read more
The latest IEA’s Monthly Oil Statistics report including October 2025 data shows that for Total OECD: Production of crude oil, NGL and refinery feedstocks grew by 3.2% compared to the same month last year. Refinery gross output of total products decreased (-1.0%) on a year-on-year basis. Net deliveries of total products decreased in October 2025 compared to October 2024 (-0.4% y-o-y). Oil … Read more
Summary Global demand growth revised 70,000 bpd higher on lower tariff impacts in 2026 Oil prices have risen about 6% so far this year OPEC+ has paused output hikes (Reuters) – The global oil market will be in deep surplus in the first quarter of 2026, the International Energy Agency said on Wednesday, as so … Read more
ANCHORAGE, Alaska–(BUSINESS WIRE)–Glenfarne Group, LLC (“Glenfarne”) subsidiary Glenfarne Alaska LNG, LLC, majority owner and developer of the Alaska LNG Project, and Danaos Corporation (“Danaos”) (NYSE: DAC), one of the world’s largest independent owners of containerships, today announced a strategic partnership to advance Alaska LNG. Under the agreement, Danaos will facilitate the construction and operation of … Read more
(Reuters) – Venezuela’s interim president Delcy Rodriguez said on Tuesday that the country has received $300 million from oil sales, the first proceeds from U.S. President Donald Trump’s announced 50-million-barrel oil supply deal with Caracas, following the capture of President Nicolas Maduro earlier this month. Trump said separately on Tuesday his country had taken the … Read more
(Reuters) – U.S. President Donald Trump said on Tuesday that his administration had taken 50 million barrels of oil out of Venezuela, and was selling some of it in the open market. “We’ve taken 50 million barrels of oil out of Venezuela in the first four days. We’ve got millions of barrels of oil left. … Read more
By Niccolo Conte | Article/Editing: Bruno Venditti | Graphics/Design: Amy Realey Key Takeaways Russia, Iran, and Qatar together hold more than half of the world’s proven natural gas reserves. Natural gas reserves are heavily concentrated in a small number of countries, shaping global energy and geopolitics. Natural gas plays a critical role in the global … Read more
(Reuters) – Oil and gas firm APA Corp said on Tuesday it curtailed production by about 91 million cubic feet per day of U.S. natural gas and 7,600 barrels per day of U.S. natural gas liquids in the fourth quarter in response to weak prices. It expects fourth-quarter average realized natural gas prices in the … Read more
Enverus releases Top 50 Public E&P Operators of 2025 ExxonMobil holds No. 1; ConocoPhillips surges as Permian Basin strength and consolidation reshape U.S. production AUSTIN, Texas (Jan. 21, 2026) — Enverus, the leading energy SaaS and analytics platform, has released its annual list of the top public onshore exploration and production (E&P) companies in the … Read more
Summary Oil output at two Kazakh fields to be halted for 7-10 days, sources say US tariff pressure over Greenland, US stockpile data weigh on oil prices US-Iran risks remain high, analysts say (Reuters) – Oil prices rose on Wednesday as investors assessed a temporary shutdown at two large fields in Kazakhstan, expectations of a … Read more
Summary Q4 adjusted EPS 69 cents vs forecast 55 cents Q4 international revenue up 2.9%, North America flat (Reuters) – Halliburton surpassed analysts’ expectations for fourth-quarter profit on Wednesday, on the back of steady demand for its services and equipment in international markets. Shares of the oilfield services company rose nearly 2.6% in premarket trading. The … Read more
The KOOL TIGER LNG Tanker is docked at the Freeport LNG facility in Quintana, Texas, U.S., June 23, 2025. REUTERS/Joel Angel Juarez/File Photo Summary Global supply to rise to as much as 484 million tons in 2026 Asia 2026 demand to rise as much as 7%, led by China and India Europe imports driven by … Read more
China’s crude oil imports from top supplier Russia fell 0.7% year-on-year in December to 9.33 million metric tons, or 2.2 million barrels per day, but hit the highest level for 2025. Imports from Malaysia, the largest trans-shipment hub for sanctioned Iranian oil, fell 37.9% to 4.14 million tons, or 0.97 million bpd. Imports from Indonesia … Read more
(Reuters) – Oil production at Kazakhstan’s vast Tengiz oil field, one of the world’s largest, could be halted for another 7-10 days after shutting down on Sunday, cutting crude exports via the Caspian Pipeline Consortium, three industry sources told Reuters. The field’s operator Tengizchevroil (TCO) said on Monday that due to power supply problems, production … Read more
(Reuters) – U.S. natural gas futures soared 27% to a three-week high on Tuesday on forecasts for much colder weather and higher heating demand over the next two weeks than previously expected that forced some traders to cover short positions. After falling to a 13-week low before the long Martin Luther King Jr. holiday weekend, … Read more
To speed the construction of new energy plants, the Trump administration called for an emergency power auction. They favor gas, coal and nuclear. By Josh Saul When the Trump administration called Friday for an emergency power auction in an ambitious bid to speed the construction of big power plants and tame skyrocketing power bills, top … Read more
Concerns over a global crude glut have pressured prices, weighing on profits. By David Wethe Harold Hamm, the billionaire wildcatter who helped kick off the US shale oil revolution, is once again making history. This time it’s a sign of retrenchment. Hamm said he’s about to shut down drilling in North Dakota’s Bakken for the … Read more
The biggest weekly price swings in two years show the power of speculative traders By Priscila Azevedo Rocha After a period of relative calm, intense volatility has returned to European gas prices. The region’s benchmark futures plunged 10% on Monday after surging 30% last week. There were real reasons for prices to be moving — … Read more
The U.S. offshore wind industry has faced other difficulties, including soaring inflation and supply chain snarls Bloomberg News Dominion said in court papers that it is losing about US$5 million a day on vessel contracts alone because of the Dominion Energy Inc. can restart construction of a wind project off the coast of Virginia while it continues … Read more
Summary US threatens tariffs on European states over Greenland China reported better-than-expected Q4 GDP data China reported higher crude oil output for 2025 Brent, WTI prices edge lower (Reuters) – Oil prices were steady on Tuesday as investors monitored U.S. President Donald Trump’s threats of higher tariffs on European states over his drive to acquire Greenland, while … Read more
Ron Bousso (Reuters) – President Donald Trump has lavished the U.S. oil industry with favourable policies since returning to the White House, but his twin demands for cheap oil and “energy dominance” are increasingly colliding with companies’ bottom lines. Over the past year, the Republican president has rolled out numerous pro‑fossil fuel measures and offered strong support … Read more
By Sing Yee Ong US natural gas futures jumped as the weather outlook for late January shifted colder, with blasts of Arctic air set to sweep the eastern part of the country, raising demand for the fuel that’s used for heating and power generation. Futures for February delivery rose as much as 14% to $3.550/mmbtu … Read more
(Reuters) – The year 2025 in the LNG sector will be one for the history books after production and exports of the super-chilled fuel smashed records and raked in billions of dollars in revenues across the global liquefied natural gas supply chain. A 25% surge in LNG purchases by European countries was a key highlight … Read more
By Jennifer A Dlouhy and Naureen S Malik A power substation near a data center in Ashburn, Virginia. Photographer: Nathan Howard/Bloomberg President Donald Trump and the governors of several US Northeastern states agreed to push for an emergency wholesale electricity auction that would compel technology companies to effectively fund new power plants. The unprecedented plan, … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row for the first time since mid-December, 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, … Read more
By Jennifer A Dlouhy and Will Wade Trump administration officials vowed to keep US coal power plants operating, casting it as an imperative to meet surging electricity demand and drive a revival of the nation’s industrial base. “The goal is 100% open,” said Interior Secretary Doug Burgum. “That’s the standard we’re operating against.” Burgum’s comment … Read more
Oil prices fell 1% on Monday, reversing the previous session’s gains, as civil unrest in Iran subsided, lowering the chance of a U.S. attack that could disrupt supply from the major Middle Eastern producer. Brent crude was trading at $63.48 a barrel at 0912 GMT, down 65 cents or 1%. U.S. West Texas Intermediate for … Read more
Summary Chevron’s export capacity from Venezuela could increase with new license terms US aims to sell Venezuelan oil at higher prices post-Maduro Funds from oil sales may eventually move to US banks, Energy Secretary Wright suggests (Reuters) – The U.S. is moving as fast as it can to grant Chevron an expanded license for its … Read more
Oil majors have grown more efficient in the years since the shale bubble burst in 2014, pumping record production with a fraction of the workforce. By Julia Fanzeres and Will Kubzansky An oilfield crew works a service rig during a state-funded oil well plugging operation in Midland. Photographer: Eli Hartman/Bloomberg The US oil and gas … Read more
Across the United States, heavy industries—from oil and gas to petrochemicals, power generation, mining, and metals—are operating under increasing pressure. Production demands are rising, labor shortages are growing, and regulatory expectations remain high. In this environment, even a single equipment failure can trigger costly downtime, safety risks, and environmental consequences. Many operators are now asking … Read more
(Reuters) – Oil prices were little changed on Monday, after rising in the previous session, as Iran’s deadly crackdown on protests quelled the civil unrest in the country, reducing the chance of a U.S. attack on the major Middle Eastern producer that could disrupt supplies. Brent crude was trading at $64.18 a barrel by 0158 … Read more
(Reuters) – President Volodymyr Zelenskiy said on Saturday that he had ordered imports of electricity and additional power equipment to be accelerated as much as possible as Ukraine confronts its worst wartime energy crisis. The government has declared an energy emergency as the system, damaged by relentless Russian strikes, is meeting only 60% of electricity … Read more
Summary Companies Governors, Trump administration sign two-year price cap deal for future PJM power auction PJM grid covers 67 million people in 13 mid-Atlantic and inland states Rising power bills cause political backlash in PJM region(Reuters) – The White House on Friday urged the largest U.S. electric grid to conduct an emergency power auction to … Read more
Four Venezuelan banks were notified this week by the country’s government that they will split $300 million of oil revenues deposited in an account in Qatar, enabling them to sell dollars to Venezuelan companies that need foreign exchange to pay for materials, two financial sources and an analyst said. The injection of foreign capital … Read more
(Reuters) – The U.S. government is not currently considering using Venezuelan oil in an exchange with U.S. oil companies to refill the country’s Strategic Petroleum Reserve, the Department of Energy said on Friday. Earlier on Friday, Reuters reported that two sources said the Trump administration was exploring a plan that would deliver Venezuelan oil to … Read more
Winter brings unique challenges for oil and gas operators, from safety risks and equipment downtime to harsh conditions that put entire sites at risk. At Kathairos, ensuring reliability and peace of mind during these critical months is a top priority. We sat down with Patrick Dwyer, Project Manager, to discuss how Kathairos’ systems are designed … Read more
(Reuters) – U.S. oil refiners are expected to have about 724,000 barrels per day of capacity offline in the week ending January 16, decreasing available refining capacity by 450,000 bpd, research company IIR Energy said on Friday. Offline capacity is expected to rise to 1.1 million in the week ending January 23, IIR said. The … Read more
Summary Benchmark prices hit multi-month highs this week Underlying balance still points to ample supply, says analyst Potential new supply from Venezuela limits price gains (Reuters) – Oil prices settled higher on Friday as some investors covered short positions ahead of the three-day Martin Luther King holiday weekend in the U.S. and lingering worries about … Read more
By Stephen Stapczynski, Priscila Azevedo Rocha, and Archie Hunter Steve Hill, left. Photographer: Danielle Villasana/Bloomberg Steve Hill, who was hired by Mercuria Energy Group in 2024 to build out its liquefied natural gas business, is leaving the trading house. Hill was part of the company’s efforts to expand into the fast-growing global LNG market. Before … Read more
(Reuters) – A federal judge on Friday will consider whether to allow Dominion Energy to resume construction on its $11.2 billion Virginia offshore wind project in a lawsuit against the Trump administration over its suspension of the venture. The hearing in U.S. District Court for the Eastern District of Virginia will be the third time … Read more
By Ron Bousso LONDON, Jan 15 (Reuters) – Simultaneous geopolitical flare‑ups in Venezuela, Iran and the Black Sea have pushed oil prices to a three‑month high, creating a treacherous environment for investors even as a large supply glut still looms over the market. Brent crude opened the year at $61 a barrel before slipping below … Read more
By Gavin Maguire LITTLETON, Colorado, Jan 15 (Reuters) – Despite all the policy whiplash – or perhaps because of it – the U.S. energy system has started 2026 with more buzz and momentum than seen in decades. At home, electricity production is growing far faster than in most western peers, which is allowing utilities to … Read more
By David Wethe, Annmarie Hordern, and Jonathan Ferro Shale billionaire Harold Hamm said oil companies need guarantees that their assets won’t someday be seized by Venezuela if they help revive the nation’s crude production. “There is a lot of geopolitical risk in Venezuela. Exxon had been there twice and been nationalized, ” Hamm said in … Read more
Summary Deal includes $5.2 billion in equity, $2.33 billion in debt It marks Mitsubishi’s biggest acquisition Mitsubishi aims to strengthen gas value chain Aethon Energy likely to buy back up to 25% interest (Reuters) – Japanese trading house Mitsubishi Corp. will buy the U.S. shale production and infrastructure assets of Aethon Energy Management for $7.53 billion, … Read more
Summary Benchmark prices hit multi-month highs this week Significant price volatility remains likely, say BMI analysts Underlying balance still points to ample supply, says Phillip Nova analyst (Reuters) – Oil prices rose slightly on Friday as supply risks remained in focus despite the receding likelihood of a U.S. military strike against Iran. Brent crude gained … Read more
U.S. Energy Secretary Chris Wright said on Thursday the U.S. is getting a 30% higher price for Venezuelan crude oil than Venezuela got before U.S. special forces captured President Nicolas Maduro earlier this month. “We’re getting about a 30% higher realized price when we sell the same barrel of oil than they sold the same … Read more
Venezuela’s interim President Delcy Rodriguez said on Thursday that she was submitting a proposal to reform the country’s hydrocarbon law, as investors in the U.S. push for easier access to the South American country’s oil industry. Rodriguez said the reforms would “allow these investment flows to be incorporated into new fields, fields where no investment … Read more
Devon Energy and Coterra Energy are exploring a potential merger, in a deal that could create one of the largest independent U.S. shale producers, people familiar with the matter said. A possible combination, which would rank among the largest between U.S. energy producers in recent years, comes as U.S. crude prices remain pressured by a … Read more
(Reuters) – Russia’s federal budget revenues from oil and gas dropped by 24% in 2025 to the lowest level since 2020, according to Finance Ministry data, as oil prices fell while the rouble appreciated. Oil and gas revenue is the leading source of cash for the Kremlin, making up a quarter of federal budget proceeds … Read more
(Reuters) – Abu Dhabi state oil firm ADNOC is weighing entering Venezuela’s energy industry and could seek a partnership with another international producer to participate in the nation’s gas projects, Bloomberg News reported on Thursday, citing people familiar with the matter. Reuters could not immediately verify the report. XRG, ADNOC’s international investments arm set up … Read more
By Jack Wittels Weak oil prices are making it harder for the shipping industry to decarbonize, according to the president of commodities giant Cargill Inc.’s freight-trading business. With a chartered fleet of more than 600 ships, Cargill has been at the forefront of the shipping industry’s efforts to cut carbon. Now, it’s hiring five new … Read more
By Anthony Di Paola The United Arab Emirates’s state oil giant is evaluating options for a potential entry into Venezuela’s energy industry as the Middle Eastern country seeks to build out its international natural gas business, according to people with knowledge of the situation. Abu Dhabi National Oil Co. is watching developments in Venezuela, with … Read more
President Donald Trump said on Wednesday that he believes it would be better for Venezuela to remain in the Organization of the Petroleum Exporting Countries, or OPEC, but added he was unsure if that would be a better situation for the United States. “Well, I think it’s better for them if they do it,” Trump … Read more
(Reuters) – Saudi Aramco and Commonwealth LNG have signed a long-term contract for the U.S. LNG developer to supply the world’s largest oil exporter with 1 million metric tonnes per annum (mtpa), three people familiar with the deal tell Reuters. The deal includes an option for Saudi Aramco to double the volume to 2 mtpa. … Read more
Venezuelan crude oil was being offered this week to U.S. Gulf Coast refiners at a premium to competing Canadian barrels, two traders said. Venezuelan Merey-16 oil was offered for U.S. Gulf Coast delivery at a discount of around $6 to Brent crude futures earlier this week, a trader said, while West Canadian Select at Houston … Read more
(Reuters) – Chevron is expected to receive an expanded Venezuela license from the U.S. government this week that could allow for increased production and exports from the South American country, three oil industry sources told Reuters on Wednesday. The U.S. oil producer is anticipated to be one of several firms to get approvals from President … Read more
Summary Trump says killings in Iran are stopping Brent, WTI fall over 3% EIA reports sharp rise in US crude and gasoline inventories (Reuters) – Oil prices tumbled more than 3% on Thursday after U.S. President Donald Trump said that killings of demonstrators during protests in Iran were ending, easing concerns over military action against … Read more
(Reuters) – The Energy Information Administration (EIA) projects that the U.S. benchmark natural gas spot price at Henry Hub will decline by about 2% to just under $3.50 per million British thermal units (mmBtu) this year, before gaining in 2027 to nearly $4.60 per mmBtu. The EIA attributed the decline to annual supply growth keeping … Read more
(Reuters) – The U.S. has completed the first sales of Venezuelan oil that are part of a $2 billion deal reached earlier this month between Caracas and Washington, a U.S. official told Reuters on Wednesday. Additional sales are expected in the coming days and weeks, the official added. Revenue from the initial oil sales – … Read more
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Blackrod SAGD goes full-scale after 15 years of pilot testing By Deborah Jaremko Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The Blackrod SAGD project. Photo courtesy International Petroleum Corporation For the first time in nearly eight years, a brand-new oil sands project is operating in Alberta. It’s … Read more
(Reuters) – U.S. natural gas futures fell about 7% on Wednesday on a drop in preliminary gas flows to liquefied natural gas export plants in Texas. That price drop came despite a preliminary decline in daily production and forecasts for colder weather and more heating demand next week than previously expected. Front-month gas futures for … Read more
(Reuters) – U.S. crude stocks and gasoline inventories rose while distillate stockpiles fell last week, the Energy Information Administration said on Wednesday. Crude stocks rose by 3.4 million barrels to 422.4 million barrels in the week ended January 9, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.7 million-barrel draw. … Read more
By Javier Blas John D. Rockefeller, the godfather of the modern oil industry, called his tactic of purposely crashing oil prices and sending the stocks of his rivals into a tailspin “a good sweating.” Soon after, he’d conveniently buy shares cheaply. For the following century, one of the few certainties of petroleum investing was that … Read more
By David Wethe Venezuela’s return to growth in the global oil market following the US capture of long-time leader Nicolas Maduro is forecast to boost crude output by roughly 50% over the coming decade, according to industry consultant Enverus. Production is expected to reach about 1.5 million barrels a day by 2035. The outlook by … Read more
(Reuters) – China’s oil imports from Venezuela are expected to slump starting from February as fewer tankers have managed to leave for Caracas’ top crude buyer after the U.S. claimed control of the OPEC producer, traders and analysts said. The number of oil tankers departing Venezuela for China has fallen sharply after U.S. President Donald … Read more
(Reuters) – Canadian Natural Resources is in talks to buy a $1-billion-plus portfolio of natural gas properties from Tourmaline Oil Corp, Globe and Mail reported on Wednesday, citing two sources familiar with the negotiations. The report said Canadian Natural filed the paperwork for federal Competition Bureau approval of a transaction with Tourmaline on December 30, … Read more
BP expects to book $4 billion to $5 billion in impairments in the fourth quarter, mainly related to its energy transition businesses, it said on Wednesday, while flagging weak oil trading. The company is rerouting spending from lower-carbon businesses to oil and gas in a bid to improve profitability under the new leadership of Chair … Read more
Summary Only 3 shipments passed US blockade since mid-December Venezuelan oil in transit to Asia near 43 million barrels – Kpler Venezuelan oil discharges into China hit record in November – Vortexa China made up 75% of Venezuelan oil export in 2025 – PDVSA (Reuters) – China’s oil imports from Venezuela are expected to slump … Read more
Summary Iran protests raise supply disruption fears, geopolitical risks Venezuela resumes oil exports amid US embargo reversal US crude stocks rise, API says, indicating looser supply-demand balance LONDON, Jan 14 (Reuters) – Oil prices rose on Wednesday for a fifth straight session on fears of Iranian supply disruptions due to a potential U.S. attack on … Read more
(Reuters) – A U.S. judge on Wednesday will consider whether to allow Norwegian offshore wind developer Equinor to resume construction of the Empire Wind project off the coast of New York as the company sues the Trump administration over its suspension of the industry in federal waters. The hearing in U.S. District Court in Washington comes two … Read more
The U.S. Energy Information Administration forecasts U.S. electricity use to rise by 1% this year and 3% in 2027, marking the first time since 2007 that power demand has risen for four years in a row and the strongest four-year growth period since 2000.“The driving factor behind this surge is increasing demand from large computing … Read more
A Canadian tycoon who heads one of North America’s fastest-growing oil companies is advocating for his country to lend its heavy oil expertise to the United States as it seeks to rebuild Venezuela’s oil industry. Adam Waterous, the executive chair of Strathcona Resources, said Canada’s decades of experience extracting oil sands crude make it uniquely … Read more
Summary US has seized five sanctioned vessels as it keeps grip on Venezuelan exports More seizures could come, but action paused since Friday Russia, which relies on shadow fleet, has said seizures were illegal (Reuters) – The U.S. government has filed for court warrants to seize dozens more tankers linked to the Venezuelan oil trade, … Read more
(Reuters) – U.S. crude production will ease in 2026 and 2027 after reaching a record high in 2025, while petroleum demand will hold steady this year, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. EIA projected crude production will slide to 13.59 million barrels per day (bpd) … Read more
(Reuters) – U.S. natural gas output will rise to a record high in 2026, while demand will decline, the U.S. Energy Information Administration said in its Short-Term Energy Outlook on Tuesday. EIA projected dry gas production will rise from a record 107.4 billion cubic feet per day in 2025 to 108.8 bcfd in 2026 and … Read more
(Reuters) – The Trump administration on Tuesday proposed a rule revising Biden-era pollution protections for waterways, a move the Environmental Protection Agency said would speed permitting of energy and artificial intelligence infrastructure. The proposed rule would revise a 2023 rule by former President Joe Biden’s administration on Section 401 of the Clean Water Act that … Read more
Workers at BP’s refinery in Whiting, Indiana are in contract negotiations with the British oil major, which has proposed changes including job cuts at the 440,000-barrel-per-day facility, the United Steelworkers union said on Tuesday. The local USW union represents around 800 workers at Whiting, the largest refinery in the U.S. Midwest. The current three-year collective … Read more
(Reuters) – The discount on U.S. crude futures to the global benchmark Brent has grown by around $1 per barrel since the U.S. ousted Venezuelan President Nicolas Maduro on January 3 and took control of the South American country’s oil flows, redirecting millions of those barrels to U.S. ports in a move likely to boost … Read more
(Reuters) – Lower oil prices are expected to cut U.S. drilling activity and reduce output 1% this year from the top producing country, while potentially higher output from Venezuela could add pressure, the Energy Information Administration said on Tuesday. The comments from the Department of Energy’s statistical arm add to worries expressed by some U.S. … Read more
(Reuters) – Cheniere Energy will process 10 billion cubic feet per day (bcf/d) of natural gas by the end of 2026, CEO Jack Fusco said on Tuesday at an API event in Washington. Fusco said he saw room for the U.S. to continue growing as an exporter. Reporting by Curtis Williams in Houston; Editing by … Read more
(Reuters) – Venezuela’s state oil company has begun reopening some of the wells it and its joint venture partners had shut amid a strict U.S. embargo, as crude exports resume with two shipments departed on Monday, three sources close to operations said. The OPEC country’s oil exports had remained almost at a standstill since December, … Read more
Annual analysis explains changing U.S. load expectations, expanding long-term oil supply potential in Venezuela and selective investments across the energy transition AUSTIN, Texas (Jan. 13, 2026) — Enverus, the leading energy SaaS and analytics platform, is releasing its 2026 Global Energy Outlook, a comprehensive overview that frames the year around hydrocarbon prices, power system realities, upstream … Read more
(Reuters) – Cubans are bracing for impact after U.S. President Donald Trump vowed to cut off a lifeline of Venezuelan oil from reaching Cuba, setting up a siege scenario for an island already reeling from crippling blackouts and shortages. Venezuela, once the island’s top supplier, has not sent crude or fuel to Cuba for about … Read more
Summary Trump claims control over Venezuela’s oil reserves Roszarubezhneft took over Rosneft’s Venezuelan holdings in 2020 Roszarubezhneft says it will continue working in Venezuela (Reuters) – Oil assets that Russia develops in Venezuela belong to Russia, which will continue working there, Moscow said on Tuesday, after U.S. President Donald Trump’s claims of control over the … Read more
(Reuters) – U.S. shale producer Diamondback Energy on Monday flagged lower prices for its oil production in the fourth quarter, compared to the preceding three months. Oil prices declined 9.2% during the three months ended December 31, as concerns about oversupply and tariffs outweighed geopolitical risks. The company said the average realized prices, or the … Read more
Summary Drones hit tankers near terminal which exports Kazakh oil Ukrainian drone attacked CPC terminal on November 29 Kazakh oil output down 35% in Jan. 1–12, source says (Reuters) – Four Greek-managed oil tankers were hit by unidentified drones on Tuesday in the Black Sea on the way to load oil at the Caspian Pipeline … Read more
(Reuters) – If record-high U.S. stock prices accurately reflect investors’ assessment of the first year of Trump 2.0, then it’s a glowing scorecard for the most interventionist government in decades. It’s yet another example of the topsy-turvy economic world where the global norms and orthodoxies of the last 40 years are being questioned and sometimes … Read more
Oil prices are likely to drift lower this year as a wave of supply creates a market surplus, although geopolitical risks tied to Russia, Venezuela and Iran will continue to drive volatility, Goldman Sachs said in a note on Sunday. The investment bank maintained its 2026 average price forecasts of $56/$52 per barrel for Brent/WTI, … Read more
Oil prices surge on possible Iranian supply disruption Summary Iran faces biggest anti-government demonstrations in years Unrest in Iran adds $3-4 a barrel risk premium, Barclays says US tariffs on Iran could hit oil exports to China (Reuters) – Oil prices extended gains on Tuesday as heightened concerns surrounding major producer Iran and potential supply … Read more
(Reuters) – Workforce security and policy reform including contract sanctity are among the prerequisites that have to be in place in Venezuela for the U.S. oil industry to move in, American Petroleum Institute President Mike Sommers said on Monday during a telephone conference with journalists. He said the move to remove Nicolas Maduro from power … Read more
Summary Exxon surprised by Trump’s remarks on Sunday Exxon, ConocoPhillips face long-term re-entry challenges Chevron is the only US major operating in Venezuela HOUSTON, Jan 12 (Reuters) – Exxon Mobil remains interested in visiting Venezuela and is prepared to send an assessment team there, a source familiar with the company’s strategy told Reuters on Monday, a … Read more
(Reuters) – U.S. Supreme Court justices wrestled on Monday over whether lawsuits by Louisiana officials seeking to hold oil and gas companies, including Chevron and Exxon Mobil, responsible for harming the state’s coast should be moved out of the Bayou State’s courthouses and into federal court. The justices during a little more than an hour … Read more
(Reuters) – Private equity giant Carlyle, a group comprising oil major Chevron and Quantum Capital Group as well as UAE-based investor International Holding Company are competing for the global assets of Russia’s Lukoil as a U.S. deadline to sell them expires this week, sources said. The United States imposed sanctions on Lukoil and its peer … Read more
(Reuters) – Iran has a record amount of oil on the water, equivalent to about 50 days of output, with China having bought less because of sanctions and Tehran seeking to protect its supplies from the risk of U.S. strikes, data from Kpler and Vortexa shows. The amount of Iranian crude and condensate, either on … Read more
US to push for quicker action in reducing reliance on China for rare earths Summary US Treasury’s Bessent said frustrated with lack of urgency G7 plus India, South Korea, Australia and Mexico to attend China dominates critical minerals production (Reuters) – U.S. Treasury Secretary Scott Bessent will urge Group of Seven nations and others to … Read more
U.S. President Donald Trump said on Sunday that he might block Exxon Mobil from investing in Venezuela after the oil major’s CEO called the country “uninvestable” during a White House meeting last week. Exxon CEO Darren Woods told Trump that the Venezuelan market is “uninvestable” in its current state. Venezuela seized Exxon’s and Conoco’s assets in … Read more
Ron Bousso U.S. President Donald Trump attends a meeting with oil industry executives, at the White House in Washington, D.C., U.S., January 9, 2026. REUTERS/Evelyn Hockstein LONDON, Jan 12 (Reuters) – Big Oil companies have injected a heavy dose of realism into U.S. President Donald Trump’s plan to rapidly invest billions in Venezuela, pointing to … Read more
(Reuters) – Norway’s government said on Monday it will present a policy document to parliament next year on the future of the oil and gas industry, including companies’ access to exploration acreage. “The oil and gas industry is crucially important for Norway, and should be developed, not phased out,” Prime Minister Jonas Gahr Stoere said … Read more
(Reuters) – A U.S. judge on Monday will consider a request from Danish energy company Orsted for an injunction against the Trump administration’s decision to halt its $5 billion Revolution Wind project off the coast of Rhode Island. The company’s lawsuit is one of several filed by offshore wind companies and states seeking to reverse the Interior Department’s December … Read more
U.S. Energy Secretary Chris Wright said on Friday that Chevron saw a pathway to grow its Venezuela production by 50%, with his comments coming after a meeting that President Donald Trump had with oil companies on the South American nation. Chevron “said with the actions that were taken and some additional things we can do for … Read more
If it’s successful, and that’s a big if, Trump’s imperialistic investment would pay off shortly after US oil output peaks. By Peter Millard Rusty pipelines. Unchecked spills. Decades of chronic underinvestment, brain drain and mismanagement. Venezuela’s oil industry is in shambles, and restoring it to its former glory would cost an estimated $100 billion—if Big … Read more
(Reuters) – U.S. President Donald Trump signed an executive order aimed at blocking courts or creditors from impounding revenue tied to the sale of Venezuelan oil held in U.S. Treasury accounts, the White House said on Saturday. The emergency order said the revenue, held in foreign government deposit funds, should be used in Venezuela to help create … Read more
U.S. Treasury Secretary Scott Bessent speaks during a press conference in Washington, D.C., U.S., December 17, 2025 Summary US Treasury chief aims to facilitate oil sale proceeds repatriation to Venezuela Bessent says will meet with IMF and World Bank on Venezuela next week Treasury chief eyes mobilization of Venezuela’s $5 billion in frozen IMF reserve … Read more
Summary Iran says situation ‘under total control’ after weekend violence Iran protest deaths exceed 500, rights group says Companies scramble to find ships for Venezuelan oil -sources LONDON, Jan 12 (Reuters) – Oil prices dipped on Monday after Iran said it had total control following the biggest anti-government demonstrations in years, easing some concerns over supply from … Read more
Summary Vitol, Trafigura have global sales, shipping, logistics U.S. oil majors wary of legal, credit, physical risks Venezuelan oil stored on old ships, was heading to China (Reuters) – Global oil trading houses have emerged as early winners in the race to control Venezuelan crude flows, getting ahead of U.S. energy majors wary of credit … Read more
Summary Exxon requires security guarantees before sending team to Venezuela Venezuela’s hydrocarbons law needs reform for investment, Woods says Chevron is preparing for an immediate bump in production Jan 9 (Reuters) – Exxon Mobil CEO Darren Woods said on Friday the U.S. oil major is ready to evaluate a potential return to Venezuela in what … Read more
Data shows millions of tons of methane spewing from the nation’s decaying energy infrastructure, underscoring how much work is required to revive production. By Aaron Clark An image captured by EMIT on September 24, 2025, shows five emissions on the same day and in the same area.Source: Kayrros SAS, processed L1B image from NASA/JPL-Caltech’s EMIT … Read more
The Trump administration wants the oil majors to rebuild the nation’s energy industry. Chevron has been on the ground there for decades. By Brian Wall With Venezuela President Nicolás Maduro in a jail cell in New York, Donald Trump moved on to the next stage of his plan for the South American nation. The US … Read more
By Reshmi Basu The New Fortress Energy liquefied natural gas terminal near the Port of San Juan in Puerto Nuevo, Puerto Rico. Photographer: Alejandro Granadillo/Bloomberg New Fortress Energy Inc. is asking its creditors for yet more time to hash out a debt restructuring before a forbearance period on some of its borrowings expires, according to … Read more
(Reuters) – U.S. President Donald Trump began a meeting to discuss Venezuela with executives from some of the world’s largest oil companies at the White House on Friday, saying he wants them to invest $100 billion in the country to vastly expand its production. The meeting reflects the importance of oil to Trump’s strategy for … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, 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 two to 544 in … Read more
By Georgina McCartney and Arathy Somasekhar Trump aims for $50 oil, below profitable level for U.S. producers Venezuelan oil redirection to pressure U.S. shale margins U.S. refineries to benefit from Venezuelan oil influx HOUSTON, Jan 9 – U.S. oil producers already reeling from low oil prices are facing renewed pressures, as President Donald Trump pushes … Read more
(Reuters) – The U.S. involvement in Venezuela’s oil sector offers a potential opportunity for international banks, with JPMorgan Chase in an advantageous spot due to its history in the country and past involvement with international trade financing. A clutch of banks including JPMorgan and Citigroup have historically operated in the country, but reduced operations or … Read more
By Didi Tang And Bernard Condon A banner on the front end of a bus features images of Venezuelan President Nicolas Maduro and China’s Xi Jinping with a message that reads in Spanish: “An example for the world,” during a government-organized rally opposing U.S. intervention, in Caracas, Venezuela, Saturday, Dec. 13, 2025. (AP Photo/Cristian Hernandez) … Read more
Summary Iran unrest, Russia-Ukraine war raise supply concerns Global inventories rise, oversupply may limit price gains White House to meet oil firms to discuss Venezuela NEW YORK, Jan 9 (Reuters) – Oil prices rose 2% on Friday on growing supply worries linked to intensifying protests in oil-producing Iran and an escalation of attacks in Russia’s war … Read more
CALGARY – U.S. President Donald Trump’s ambition to have U.S. energy companies swoop in and revive Venezuela’s beleaguered oil industry has raised questions about what it means for Canadian oilsands producers and whether it’s a task American supermajors can or even want to take on. Here is a rundown of the past and potential of … Read more
(Reuters) – Shell narrowed its projected range for fourth-quarter liquefied natural gas production but kept it within previous guidance, it said in a trading update on Thursday, as it warned of a loss in its chemicals business. It said its chemicals and products segment’s earnings will be below break-even in the fourth quarter, dragged down … Read more
(Reuters) – U.S. Energy Secretary Chris Wright said there was room to balance roles for both the United States and China in Venezuela to allow for commerce but that Washington would not allow Beijing to have major control over the Latin American country. In an interview on Fox Business Network, Wright also said he expected … Read more
(Reuters) – DENVER, Jan 7 – U.S. crude stocks fell while gasoline and distillate inventories rose last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.8 million barrels to 419.1 million barrels in the week ended January 2, the EIA said, compared with analysts’ expectations in a Reuters poll for a … Read more
Summary Investors skeptical about Venezuela’s political stability and investment costs Chevron, ConocoPhillips cautious about rushing into Venezuela investments, sources say US plans three-phase process for Venezuela’s recovery, Rubio says (Reuters) – U.S. oil executives being summoned to the White House on Friday to discuss potential investment plans in Venezuela will be carefully weighing the country’s … Read more
(Reuters) – The White House is convening a meeting on Friday with major U.S. and international oil companies to discuss potential investment in Venezuela’s energy sector, as the administration weighs ways to revive crude output in the sanctions-hit country, according to a White House official. The companies include producers, refiners, traders and oilfield services firms … Read more
(Reuters) – Refineries along the U.S. Gulf Coast from Corpus Christi, Texas to Pascagoula, Mississippi are configured to run the heavy sour, corrosive crude oil produced by Venezuela that President Donald Trump plans to sell in the U.S., following the capture last weekend of Nicolas Maduro. Beginning in the 1990s, refiners reconfigured their plants with … Read more
The U.S. Senate advanced a resolution on Thursday that would bar President Donald Trump from taking further military action against Venezuela without congressional authorization, paving the way for further consideration in the 100-member chamber. The vote on a procedural measure to advance the war powers resolution was 52 to 47, as a handful of Trump’s … Read more
(Reuters) – The U.S. move to seize foreign vessels in international waters seriously violates international law, the Chinese foreign ministry said on Thursday. “China has always opposed illegal unilateral sanctions without the basis of international law and without the authorisation of the United Nations Security Council,” ministry spokesperson Mao Ning said at a press conference. … Read more
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