Summary • Putin suggests changes to US ceasefire idea for Ukraine • IEA says supply to exceed demand by 600,000 bpd in 2025 • US oil rig count up one this week, Baker Hughes says NEW YORK, March 14 (Reuters) – Oil prices rebounded by 1% on Friday to end the week nearly unchanged as … Read more
(Reuters) – Williams Cos said on Friday it appreciated U.S. President Donald Trump’s support for its cancelled Constitution natural gas pipeline project through New York, and that it was interested in dusting off the project under the right circumstances. Trump met with New York Governor Kathy Hochul on Friday morning for talks that included potentially … Read more
(Reuters) – Chevron is advancing plans to tap into data center power demand, with the oil major recently entering the permitting and engineering phases for multiple U.S. sites to develop the centers and the electricity to supply them, a company executive told Reuters this week. Energy use for U.S. data centers, which are essentially giant … Read more
By Marianna Parraga HOUSTON, March 14 (Reuters) – Brazil’s state-run oil firm Petrobras (PETR4.SA) is in talks with U.S. liquefied natural gas (LNG) suppliers for a long-term import deal, a Petrobras executive said. Brazil is Latin America’s largest oil producer, but consumes more gas than it produces and relies on imports to fill the gap. … Read more
March 14 (Reuters) – Barclays on Friday lowered its 2025 Brent oil price forecast by $9 per barrel to $74 per barrel, citing a softer demand outlook amid elevated economic uncertainty. Brent crude futures were trading around $70 a barrel on Friday, after settling 1.5% lower in the previous session. U.S. West Texas Intermediate crude … Read more
HOUSTON, March 12 (Reuters) – (This March 12 story has been corrected to fix Glenfarne Energy Transition CEO’s name to Brendan Duval from Brian Duval, in paragraph 1) Glenfarne Energy Transition expects to make a final investment decision on its Texas LNG project by December, CEO Brendan Duval said on Wednesday. Glenfarne Energy is developing … Read more
By Randy Thanthong-Knight Mark Carney has been sworn in as Canada’s 24th prime minister, bringing the former central banker to power in the middle of an explosive trade war with the US. The former governor of the Bank of Canada and the Bank of England was officially installed as Canada’s leader at a ceremony in … Read more
18 important deregulatory actions EPA announced yesterday, and why they will make life better for all of us. By Alex Epstein Did the EPA really just take the “Biggest Deregulatory Action in U.S. History”? Arguably, yes. Here are 18 important deregulatory actions EPA announced today, and why they will make life better for all of … Read more
(Reuters) – The United States imposed sanctions on Thursday on Iran’s oil minister Mohsen Paknejad and some Hong Kong-flagged vessels that are part of a shadow fleet that helps disguise Iranian oil shipments, the Treasury Department said. Paknejad “oversees the export of tens of billions of dollars’ worth of Iranian oil and has allocated billions … Read more
By Laila Kearney HOUSTON, March 12 (Reuters) – U.S. wind and solar development still has significant room for expansion to power data centers, particularly in the Midwest wind corridor and sunny southwest, Microsoft Vice President of Energy Bobby Hollis told Reuters at the CERAWeek energy conference in Houston on Wednesday. The quick proliferation of Big … Read more
By Clyde Russell LAUNCESTON, Australia, March 13 (Reuters) – Dial out the noise and focus on the fundamentals is a tactic that may work best for global commodity markets as they navigate the mounting challenges posed by U.S. President Donald Trump’s erratic and inconsistent trade policies. While the media focus on each headline-grabbing announcement and … Read more
(Reuters) – U.S. energy firms this week kept the number of oil and natural gas rigs operating unchanged, 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, was steady at 592 in the week to March 14.. Baker Hughes … Read more
Trump’s administration vows to support U.S. drillers But low oil prices threaten activity Energy transition shifts to ‘energy additions’ amid rising demand By Ron Bousso (Reuters) – Donald Trump’s return to the White House caused “animal spirits” to soar in the oil and gas sector, and these vibes were palpable in the halls of the … Read more
By David Wethe and Alix Steel Harold Hamm, the billionaire wildcatter and a major donor to President Donald Trump, has challenged a claim from the new US energy secretary that domestic oil companies could increase production even at prices as low as $50 a barrel. Hamm’s words represent one the first signs of public push-back … Read more
By Ahmad Ghaddar OPEC+ supply targets only cover unrefined crude Increased fuel exports means more oil reaches market than required, analyst says Economic weakness in biggest importer China has curbed demand Exporting refined products gives countries increased global reach LONDON, March 13 (Reuters) – OPEC+ has exported a record amount of refined products, blunting the … Read more
Artificial intelligence is speeding up oil and gas drilling and prompting companies to take a second look at places they had viewed as too difficult or expensive to develop, executives detailed during the CERAWeek conference in Houston. AI took center stage in many sessions at the world’s largest energy gathering. Oil producers are seeking ways … Read more
LONDON, March 14 (Reuters) – Oil prices rebounded on Friday after a more than 1% loss in the previous session, partly due to the diminishing prospects of a quick end to the Ukraine war that could bring back more Russian energy supplies to Western markets. Brent crude futures were up 54 cents, or 0.77%, to … Read more
(Reuters) – Exports of liquefied natural gas from Alaska could begin by 2030 or 2031, Alaska Governor Mike Dunleavy said on Friday. U.S. President Donald Trump talked up the proposed $44 billion Alaska LNG project in his address to Congress last week. The project is expected to deliver about 3.5 billion cubic feet of gas … Read more
Gazprom’s Europe-facing export arm considers selling lavish offices, sources say Down to just a handful of employees, job cuts also approved at headquarters, sources say European buyers cast doubt on return to Russian gas in case of Ukraine peace Russia’s gas exports to China unlikely to replace European market losses March 13 (Reuters) – When … Read more
(Reuters) – Exxon Mobil expects to raise output to 5.4 million barrels of oil equivalent per day in 2030, up from 4.3 million boepd now, the company’s president of upstream said on Wednesday. The production areas that the company is focused on for growth are Guyana, top U.S. oilfield the Permian, and the liquefied natural … Read more
DALLAS, March 12, 2025 (GLOBE NEWSWIRE) — Berry Corporation (bry) (NASDAQ: BRY) (“Berry” or the “Company”) today announced financial and operating results for the fourth quarter and full year 2024, as well as a quarterly cash dividend of $0.03 per share. Berry has provided a supplemental slide deck on its results, which can be found … Read more
(Reuters) – U.S. tariffs on steel and aluminum imports are poised to escalate costs for the oilfield service companies behind North America’s vast energy industry, as their operations rely heavily on these metals. Steel is essential for everything from the drilling rigs and pipelines to refineries and storage tanks provided by companies such as ChampionX … Read more
By Lucia Kassai TC Energy’s Sur de Texas-Tuxpan pipeline that transports natural gas from Texas to Mexico is expected to ramp up in coming months as the Southeast Gateway conduit starts service on May 1, Chief Executive Officer Francois Poirier said in an interview. Southeast Gateway will deliver gas from the Sur de Texas-Tuxpan line … Read more
(Reuters) – Dealmakers expect 2025 to be a bumper year for mergers and acquisitions in the U.S. power industry, with a voracious appetite for assets as the sector gears up to meet massive demand growth from data centers for artificial intelligence. Record power demand and dizzying projections for electricity consumption for AI have made power … Read more
(Reuters) – U.S. Federal Energy Regulatory Commission Chairman Mark Christie said on Thursday that natural gas-fired power will be crucial to meet rising U.S. electricity demand – a situation that requires a big increase in gas pipeline capacity, as well as new power plants. “We’re going to build combined-cycle gas to meet this load from … Read more
Protests, largely peaceful, have sprouted up at showrooms across the U.S. and Europe in recent weeks President Donald Trump said that protesters who are vandalizing Tesla’s showrooms and charging stations should be considered domestic terrorists. The electric vehicle maker has been rocked by protests and vandalism in recent weeks as chief executive Elon Musk has … Read more
By Ari Natter Donald Trump’s Interior Secretary is making the case that the oil, gas and minerals in the vast federal lands and waters he is charged with overseeing should be viewed as part of “America’s balance sheet” worth trillions of dollars. Secretary Doug Burgum plans to tell thousands of oil and gas executives gathered … Read more
Company once seen as the answer to domestic battery production Northvolt AB filed for bankruptcy in Sweden, bringing to an end a company that was once seen as the future of Europe’s battery production. The Swedish supplier for electric-vehicle manufacturers will see its business and its assets sold by a Swedish court-appointed trustee, according to … Read more
Summary • Macroeconomic concerns stemming from tariffs remain prevalent • Global demand firmer year on year and exceeded expectations, JP Morgan analysts say • Gasoline inventories fall more than expected, EIA data shows (Reuters) – Oil prices were largely steady on Thursday after surging in the previous session on a larger-than-expected draw in U.S. gasoline … Read more
Summary • Layoffs slow permitting for energy projects, affecting Trump’s agenda, officials say • Federal agencies crucial for energy permits face workforce cuts • Permitting delays impact oil and gas states like New Mexico and Alaska WASHINGTON, March 13 (Reuters) – The Trump administration’s mass layoffs of federal workers have slowed the government’s ability to … Read more
(Reuters) – U.S. oil producers will meet with President Donald Trump next week, leading industry group the American Petroleum Institute said on Wednesday. Among the topics for discussion are tariffs, trade and exports of liquefied natural gas, an industry source told Reuters. The API, which counts oil majors ExxonMobil and Chevron as members, helped put … Read more
Record natgas demand since nearly 2010 seen extending to 2025, 2026 Power costs up 35% in past 4 years amid lack of gas pipeline capacity -EQT US LNG capacity will almost double over the next few years NextEra sees 55% jump in power demand in next 20 yrs, 17% of that from AI By Georgina … Read more
Canadian premiers turned a CERAWeek panel into a venting session as measures on steel and aluminum imports take effect. By Millie Munshi and Joe Carroll Welcome to our guide to the energy and commodities powering the economy. This week, we’re coming to you from global oil and gas get-together CERAWeek in Houston, where delegates confront … Read more
(Reuters) – U.S. crude oil stockpiles rose and fuel inventories fell last week as seasonal refinery maintenance season ticked along, the Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 1.4 million barrels to 435.2 million barrels in the week ended March 7, the EIA said, compared with analysts’ expectations in a Reuters … Read more
U.S. natural gas futures fell more than 5% on Wednesday, driven by record production levels and predictions of milder weather over the next two weeks than previously expected, which could dampen heating demand and enable utilities to draw less gas from storage. Front-month gas futures for April delivery on the New York Mercantile Exchange were … Read more
By Simon Webb HOUSTON, March 11 (Reuters) – The international investment arm of United Arab Emirates state oil company ADNOC will make a significant investment in U.S. natural gas starting in the coming months, ADNOC CEO Sultan Al Jaber said on Tuesday. The UAE is a member of the OPEC+ producer group and one of … Read more
(Reuters) – Market upheaval from U.S. President Donald Trump’s protectionist trade policies has not dampened foreign investment interest in the U.S. energy industry, executives said this week, as they lauded his promise to cut regulations and support fossil fuels. Trump has made energy dominance a pillar of his administration, declaring a national energy emergency on … Read more
By John Stepek Welcome to the award-winning Money Distilled newsletter. I’m John Stepek. Every week day I look at the biggest stories in markets and economics, and explain what it all means for your money. An under-rated geopolitical revolution Here’s a point that I never tire of making. If you’re a long-suffering reader, you may … Read more
Summary • Companies • SMRs face cost, security, and regulatory challenges • U.S. regulatory framework for SMRs is underdeveloped • HALEU fuel safety and demand growth concerns persist HOUSTON, March 11 (Reuters) – Everyone from the U.S. energy secretary to Big Tech touts small modular nuclear reactors as a potential answer to booming power demand, … Read more
Data is only valuable if it can be accessed, transformed, and understood. This is especially true in the energy sector, where data collection, processing, and operational improvements have long been core practices. From advanced process control to high-fidelity digital twins built using thermodynamic models, the industry has continuously leveraged technical ingenuity to overcome operational challenges. … Read more
ConocoPhillips CEO Ryan Lance said on Tuesday at the CERAWeek energy conference in Houston that U.S. oil production will plateau later this decade and will stay on the plateau for some time. Reporting by Ron Bousso; Writing by Richard Valdmanis
(Reuters) – U.S. oil and gas producers are unlikely to increase spending this year and output increases will primarily come from improved efficiencies rather than new drilling, Baker Hughes Chief Executive Lorenzo Simonelli said on Monday. The outlook comes as U.S. President Donald Trump’s administration has repeatedly exhorted the industry to “Drill, baby, drill,” to … Read more
Employees and community stakeholders at the Venture Global Plaquemines liquefied natural gas export facility in Port Sulphur, Louisiana.Photographer: Kathleen Flynn/Bloomberg By Bailey Lipschultz The list of companies that have flopped out of the gate when entering public markets has a new king: Venture Global Inc. Shares of the liquefied natural gas exporter have cratered more … Read more
Chris Wright displays a signed order approving an LNG permit extension for the Delfin LNG project.Photographer: F. Carter Smith/Bloomberg By Ari Natter US Energy Secretary Chris Wright extended a permit for a natural gas export project by Delfin LNG LLC. The development off the coast of Louisiana will involve four vessels that’ll produce 13.3 million … Read more
Global oil supply growth is outstripping demand, the CEO of one of the world’s largest oil traders, Gunvor, said on Monday. Oil prices hit a three-year low last week due to slow demand growth in China and concerns about the impact on global economic growth of U.S. President Donald Trump’s protectionist trade policies. “We still … Read more
(Reuters) – The premier of the Canadian province of Ontario said he was suspending plans to impose a 25% surcharge on electricity exports to the United States and would fly to Washington this week for talks with the Trump administration. Doug Ford made his surprise announcement on Tuesday just hours after telling U.S. networks that … Read more
(Reuters) – Oil prices edged up on Wednesday, supported by a weaker dollar, but gains were capped by mounting fears of a U.S. economic slowdown and the impact of tariffs on global economic growth. Brent futures rose 37 cents, or 0.53%, to $69.93 a barrel at 0951 GMT, while U.S. West Texas Intermediate crude futures … Read more
Summary • Tariffs to increase costs for oilfield services companies • OCTG imports from Canada, Mexico rise amid tariff concerns • Smaller producers face higher costs due to tariff impact March 11 (Reuters) – The proposed U.S. tariffs on steel and aluminum imports are poised to escalate costs for U.S. oilfield services companies, which rely … Read more
By Timothy Gardner SMRs face cost, security, and regulatory challenges U.S. regulatory framework for SMRs is underdeveloped HALEU fuel safety and demand growth concerns persist HOUSTON, March 11 (Reuters) – Everyone from the U.S. energy secretary to Big Tech touts small modular nuclear reactors as a potential answer to booming power demand, but the technology … Read more
(Reuters) – U.S. oil production will peak between 2027 and 2030, Occidental Petroleum Corp CEO Vicki Hollub said on Tuesday at the CERAWeek conference in Houston, Texas. Her outlook follows U.S. President Donald Trump vowing to bolster fossil fuel production in the U.S. and lower prices for consumers. ConocoPhillips CEO Ryan Lance echoed Hollub’s outlook … Read more
President Donald Trump on Tuesday doubled his planned tariff on all steel and aluminum products coming into the United States from Canada, bringing the total to 50%, in response to the province of Ontario placing a 25% tariff on electricity coming into the U.S. Trump said in a post on Truth Social he has instructed … Read more
(Reuters) – Mexico’s state oil company Pemex expects to continue diverting barrels of heavy crude away from U.S. Gulf Coast refiners as its new Olmeca refinery ramps up processing, the head of the company’s trading arm PMI, Margarita Perez, said on Tuesday. Pemex’s decision to prioritize refining over its traditional export markets began around six … Read more
By Kevin Crowley Executives from some of the world’s top oil and gas producers offered full-throated support for President Donald Trump’s “Energy Dominance” on Monday, even as financial markets slumped on broader concerns about his economic agenda. The hallways and sessions on the first day of the annual CERAWeek by S&P Global conference in Houston … Read more
Executives embrace the administration’s tone at Houston’s CERAWeek conference — but views on prices may cause friction down the line. US Energy Secretary Chris Wright said he wants to reverse what he called a “very poor direction in energy policy.”Photographer: Aaron M. Sprecher/Bloomberg By Will Kennedy Welcome to our guide to the commodities markets powering … Read more
Global oil supply growth is outstripping demand, the CEO of one of the world’s largest oil traders, Gunvor, said on Monday. Oil prices hit a three-year low last week due to slow demand growth in China and concerns about the impact on global economic growth of U.S. President Donald Trump’s protectionist trade policies. “We still … Read more
A new scramble for crude oil market share in Asia may be kicking off as top exporters Saudi Arabia and Russia move to boost cargoes to the world’s top importing region. China, the world’s biggest oil importer, is emerging as ground zero for the two exporters, who are ostensibly allies in the wider OPEC+ group … Read more
Fatih Birol, the director of the Paris-based International Energy Agency, said on Monday there is a need for investment in oil and gas fields to support global energy security. The comment puts the energy watchdog for industrialized nations more in line with President Donald Trump’s pro-drilling agenda, after it came under pressure from fossil fuel … Read more
FORT WORTH, Texas, March 10, 2025 (GLOBE NEWSWIRE) — HighPeak Energy, Inc. (“HighPeak” or the “Company”) (NASDAQ: HPK) today announced financial and operating results for the quarter and the year ended December 31, 2024. In addition, HighPeak provided its 2025 guidance and capital budget, as approved by its Board of Directors. Highlights 2024 sales volumes … Read more
Fourth Quarter Results Total revenues of $45.0 million, a 28% year-over-year improvement Net income of $3.5 million and earnings per diluted share of $1.32, an improvement to the prior year period after adjusting for the non-cash benefit of legal settlement from one year ago Adjusted EBITDA of $8.2 million, compared to $2.5 million in the fourth quarter of 2023 … Read more
Business includes approximately 351,000 horsepower, comprised of 316,000 operating horsepower and a 35,000 horsepower backlog of contracted new equipment Aligns with Archrock’s focus on large horsepower compression with blue-chip customers Complements and deepens Archrock’s existing operations in the Permian Basin Expands Archrock’s electric motor drive compression capabilities as customer demand for low carbon solutions continues … Read more
HOUSTON, March 11, 2025 (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR), an energy technology company, and NextDecade Corporation (NASDAQ: NEXT) and announced Tuesday that they have entered into a framework agreement whereby NextDecade plans to utilize Baker Hughes’ gas turbine and refrigerant compressor technology (Equipment Packages) and enter into contractual services agreements to perform maintenance … Read more
Blowback against chief executive Elon Musk is also hurting Tesla’s standing in some of the world’s biggest EV markets Bloomberg News Tesla Inc. shares plunged to their worst day in more than four years, extending a slide in 2025 amid growing concerns on Wall Street about demand for the company’s electric cars. Its stock tumbled … Read more
Wall Street ends sharply lower as recession fears loom Summary • S&P 500 down over 8% from Feb 19 all-time high • Nasdaq confirmed 10% correction from its Dec peak last week • S&P 500 P/E moderates but still high vs historical average • Delta Air Lines cuts forecast on growing economic uncertainty • Tesla … Read more
The Panama Canal is exploring the construction of a pipeline to move liquefied petroleum gas (LPG) across the trade passage, canal administrator Ricaurte Vasquez said on Monday, with Japan seen as a top potential client for gas coming from the U.S.WHY IT’S IMPORTANT The canal, one of the world’s busiest maritime trade passages, is looking … Read more
You’re invited to join Presto Geosystems for a live, 1-hour webinar to explore how the GEOWEB® Soil Stabilization System can significantly improve the life cycle of your road projects. Webinar Description When paved and unpaved roadway surfaces are built over weak subgrades, base deterioration can lead to degradation. This causes unwanted deflections, rutting, and cracking … Read more
(Reuters) – U.S. Energy Secretary Chris Wright said on Monday that he was pleased with OPEC actions and had no specific requests of the Saudi Arabia-led oil producers group. He said he was happy OPEC was returning barrels to the marketplace and said that more energy was good for the globe. Wright, speaking to reporters … Read more
BlackRock CEO Larry Fink said on Monday that inflation in the United States will be elevated by nationalistic policies, including the deportation of workers. The head of the U.S. investment management company, speaking at the CERAWeek conference in Houston, added that markets are discounting inflation and there will be further cost increases over the next … Read more
Summary • Crude benchmarks Brent, WTI inch higher • Benchmarks closed 1.5% lower in previous session • Dollar index hits four-month low • Concerns over U.S. recession and tariffs limit crude gains March 11 (Reuters) – Oil prices pared earlier losses to rise up during trade on Tuesday, helped by weakness in U.S. dollar, although … Read more
U.S. Energy Secretary Chris Wright said on Monday he was planning to work with Congress on cancelling previously mandated sales from the Strategic Petroleum Reserve as one way to address low stockpiles. Congress has mandated some 100 million barrels in sales from the reserve, the world’s largest emergency stockpile of crude oil, with a 7 … Read more
(Reuters) – U.S. Energy Secretary Chris Wright said on Monday that soaring U.S. power demand growth “is a train wreck waiting to happen,” and requires big investments and regulatory changes to meet. He added, in comments to the CERAWeek conference in Houston, that the administration of President Donald Trump intends to reverse what he called … Read more
The White House’s LNG-powered diplomacy will only expand in Trump’s second term. Ripping up old alliances and turning the post-World War II axis on its head would have been impossible for any previous American president because of the insatiable US thirst for imported energy. But the Trump White House is able to lean on an … Read more
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By Charlie Buckley A new bill introduced to the United States House of Representatives would withhold federal funding for any American “operations to invade or seize territory from” Canada, Panama or Greenland — unless Congress agrees to it first, that is. Introduced Thursday by Rhode Island Rep. Seth Magaziner, the No Invading Allies Act would … Read more
(Reuters) – Policymakers and energy executives need to rethink energy transition plans and stop doubling down on elements of the transition that have failed, the CEO of state oil giant Saudi Aramco said on Monday, stressing the need for investment in fossil fuels to meet global demand. The comments from the head of the world’s … Read more
(Reuters) – Chevron would like to see durability in U.S. energy policy rather than swings from one extreme to another, CEO Mike Wirth said on Monday. U.S. President Donald Trump’s first weeks in office during his second term have been marked by a rapid overhaul of government and the reversal of many of the energy … Read more
(Reuters) – The Canadian province of Ontario is imposing a 25% surcharge on electricity exports to New York state, Michigan and Minnesota to protest against U.S. President Donald Trump’s tariffs on Canada, Premier Doug Ford said on Monday. “President Trump’s tariffs are a disaster for the U.S. economy. They’re making life more expensive for American … Read more
Weak crude prices have eroded the incentive to drill for more oil, but LNG is a different story. A Venture Global Inc. LNG export facility in Louisiana, with founders Mike Sabel and Bob Pender, Energy Secretary Chris Wright, Louisiana Governor Jeff Landry and Interior Secretary Doug Burgum. Photographer: Bloomberg By Kevin Crowley Welcome to our … Read more
Alberta Premier Danielle Smith said on Monday that the Canadian province would continue to supply crude oil to the United States but that U.S. President Donald Trump’s tariff threats also underscored the need for new markets. She said U.S. tariffs currently do not apply to Canadian crude oil, but that producers were being required to … Read more
(The opinions expressed here are those of the author, a columnist for Reuters) *Trump tariffs create turmoil in financial markets *Chevron CEO prefers Trump’s orders become legislation for stability *Drop in oil prices threatens U.S. oil production growth By Ron Bousso HOUSTON, March 10 – Energy executives travelling to the U.S. oil capital of Houston for … Read more
CALGARY, AB, March 10, 2025 /CNW/ – Whitecap Resources Inc. (“Whitecap”) (TSX: WCP) and Veren Inc. (“Veren”) (TSX: VRN) (NYSE: VRN) are pleased to announce a strategic combination to create a leading light oil and condensate producer with concentrated assets in the Alberta Montney and Duvernay. The combined company will be the largest Alberta Montney and Duvernay landholder, a prominent light oil producer in Saskatchewan and … Read more
The Trump administration is working on a “market-based” plan to stem the closure of US coal-fired power plants as it seeks to supply more electricity before an expected boom in demand from artificial intelligence, Energy Secretary Chris Wright said. Wright, who also serves as the vice-chair of the White House’s National Energy Dominance Council, declined … Read more
U.S. natural gas prices rose on Friday, setting their best weekly performance in two months, as colder-than-usual weather fueled concerns over supply replenishment ahead of summer when demand typically increases for power generation to run air conditioners. Front-month gas futures for April delivery on the New York Mercantile Exchange were up 9.7 cents, or 2.3%, … Read more
In the fast-paced industries of oil and gas, construction & mining, the need for skilled labor is constant, yet project fluctuations often create periods of intermittent employment for workers. Recognizing this gap and offering a solution that benefits both companies and skilled professionals, Sideworx Connect has made its mark as a premier recruitment agency in … Read more
The Trump administration is reviewing offshore wind projects, with different treatment for projects under development versus those that are proposed. Summary by Bloomberg AI The review is considering the “necessity of terminating or amending any existing wind energy leases” and “identifying any legal bases for such removal”. Summary by Bloomberg AI The administration has paused … Read more
Abu Dhabi National Oil Co. is seeking to buy its first natural gas producing fields in the US to deepen its presence in the country. Summary by Bloomberg AI Adnoc’s interest in gas producing assets comes at a time when market-watchers are expecting a slowdown in dealmaking in US upstream assets, particularly in the shale … Read more
Summary • WTI and Brent benchmarks register multiple weekly declines • IEA and OPEC monthly reports expected this week • Saudi Aramco cuts crude prices to Asia LONDON, March 10 (Reuters) – Oil prices held steady on Monday as concern over the impact of U.S. tariff uncertainty and rising output from OPEC+ producers pressured prices … Read more
In one of his first meetings with oil and gas executives since being confirmed as U.S. energy secretary, Chris Wright said he intended to speed up permitting and support the industry, attendees told Reuters. His comments, made at a dinner ahead of the world’s largest energy industry gathering in Houston, were in line with President … Read more
(Reuters) – A push by the United States to end the war in Ukraine has raised questions about how companies might begin to return to the Russian market and how Europe might re-engage with Moscow, including resuming piped natural gas supplies. The Nord Stream pipeline across the Baltic Sea to Germany is by far the … Read more
Summary • OPEC+ has decided to hike output from April • Novak: OPEC+ may reverse the hike decision after April • Kazakhstan says it will cut oil production in next months • CPC exports to be reduced as well (Reuters) – Russia’s Deputy Prime Minister Alexander Novak said on Friday that the OPEC+ group agreed … Read more
The oilsands company will now pay a quarterly dividend of 58.75 cents per share CALGARY — Oil and gas heavyweight Canadian Natural Resources Ltd., fresh off two major deals, says volatility from U.S. tariffs isn’t making it hungrier for more acquisitions. On its fourth-quarter conference call Thursday, an analyst asked Canadian Natural president Scott Stauth … 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 592 in … Read more
Summary • Brent and WTI fall more than 3% over the week • Trade war risks and OPEC+ supply increase weigh on market HOUSTON, March 7 (Reuters) – Oil prices gained on Friday but retreated from session highs after U.S. President Donald Trump threatened sanctions on Russia if it fails to reach a cease-fire with … Read more
The world’s energy industry leaders meet in Houston next week as plummeting oil prices push Big Oil to slash thousands of jobs even as a pro-fossil fuel U.S. administration encourages them to pump more. U.S. President Donald Trump’s first 47 days in office have been marked by a rapid overhaul of government and policy, including … Read more
(Reuters) – The U.S. government is studying ways it could ease sanctions on Russia’s energy sector as part of a broad plan to enable Washington to deliver swift relief if Moscow agrees to end the Ukraine war, according to two sources familiar with the matter. Reuters had reported earlier in the week that the United … Read more
The rapid decline in Tesla’s shares has pushed them into what chart-followers call an oversold zone A slide in Tesla Inc. on Friday is capping off a round trip of epic proportions in the company’s shares. Expectations that the electric-vehicle maker would benefit from chief executive Elon Musk’s close relationship with President Donald Trump made … Read more
By Ari Natter The Trump administration is working on a “market-based” plan to stem the closure of US coal-fired power plants as it seeks to supply more electricity before an expected boom in demand from artificial intelligence, Energy Secretary Chris Wright said. Wright, who also serves as the vice-chair of the White House’s National Energy … Read more
PORT SULPHUR, La. (AP) — The planned expansion of a massive liquefied natural gas facility in southeast Louisiana is a beacon for a U.S. energy policy that doubles down on oil and gas exports under President Donald Trump, two members of his Cabinet told a crowd of cheering workers Thursday. “The prior administration had a … Read more
U.S. Energy Secretary Chris Wright plans to seek up to $20 billion to accomplish President Donald Trump’s goal of refilling the nation’s depleted oil reserve to its maximum capacity, Bloomberg News reported on Friday. Wright told Bloomberg News in an interview that the initiative would restore holdings “just close to the top” to maintain efficient … Read more
By Yogi Schulz Generative artificial intelligence (AI) is sweeping through the oil and natural gas industry. It’s out of control, like the Wild West. AI output is showing up in reports and presentations. The Apple App Store and Google Play offer many free AI apps of varying quality. Every AI software vendor provides access to … Read more
Summary Russia launches 67 missiles, almost 200 drones at Ukraine Air assault comes as US cuts aid, intelligence sharing Zelenskiy to visit Saudi Arabia before US-Ukraine talks (Reuters) – Russian forces damaged Ukrainian energy and gas infrastructure overnight in their first major missile attack since the U.S. paused intelligence sharing with Ukraine, piling pressure on … Read more
March 6 (Reuters) – Venture Global’s (VG.N) shares on Thursday slumped to its lowest level since its debut as the LNG producer forecast its 2025 core profit below Wall Street expectations. Shares of the company fell as much as 22.5% to $11.02 in morning trade as it forecast adjusted core profit between $6.8 billion and … Read more
HOUSTON, J (Reuters) – Canada and Mexico are the top sources of U.S. crude imports, together accounting for around one-quarter of the oil U.S. refiners process into fuels such as gasoline and heating oil, according to the U.S. Department of Energy. Below is a list of the top countries that the United States imports crude … Read more
Development of additional US LNG projects currently on hold or in the pre-Final Investment Decision stage would avoid carbon emissions by 2040 equivalent to more than twice the annual emissions from the entire car fleet in Los Angeles County WASHINGTON, March 6, 2025 /PRNewswire/ — The continued development of U.S. liquefied natural gas (LNG) export capacity … Read more
By Brian Platt Prime Minister Justin Trudeau is not open to lifting Canada’s full package of retaliatory tariffs if US President Donald Trump leaves any tariffs on Canada in place, according to a senior Canadian government official. Trudeau’s government is cool to the idea of a “middle ground” settlement in the trade war floated by … Read more
• Brent and WTI on track to fall more than 3% over the week • Trade war risks and OPEC+ supply increase weigh on market • China stimulus could cushion blow from tariffs, analyst says (Reuters) – Oil prices extended gains on Friday, rising more than $1 a barrel, after Russia’s Deputy Prime Minister Alexander … Read more
South Dakota’s governor signed a bill into law Thursday that bans the taking of private property for building carbon dioxide pipelines, a blow to a sprawling Midwest pipeline network that ethanol producers see as key for their future. The new law muddies the waters for Summit Carbon Solutions and the planned $8.9 billion, 2,500-mile (4,023-kilometer) … Read more
By Arathy Somasekhar Cold weather impacts about 1.8 mln barrels of Permian output – analyst Midwest refiners seek Midland crude to cut dependency on Canadian light – analyst U.S., Europe refinery maintenances cut demand at the coast Narrow price differential between WTI Midland and MEH expected to be temporary – analysts to be temporary – … Read more
By: Jason Clemens and Niels Veldhuis Almost all of the coverage and commentary on President Trump’s decision to use executive powers to impose a 25 per cent tariff on exports from Canada (10 per cent on energy) and Mexico, and the retaliatory measures from both countries have rightly focused on economics. There’s an important aspect of this … Read more
PLAQUEMINES PARISH, La.–(BUSINESS WIRE)–Today, Venture Global (NYSE: VG) announced plans for a brownfield expansion at its Plaquemines LNG facility south of New Orleans, Louisiana. Joining Venture Global for the announcement was Secretary of Energy Chris Wright, Secretary of the Interior Doug Burgum, Louisiana Governor Jeff Landry and other federal, state and local officials and stakeholders. … Read more
A Consolidated Edison power plant in New York.Source: Education Images/Getty Images By Arvelisse Bonilla Ramos, Josh Saul, and Augusta Saraiva No one expects New York City living to come cheap. But even as rents soar across the five boroughs and egg prices can top $10 per dozen, residents now face the prospect of another cost … Read more
Canada will continue to be in a trade war with the United States for the foreseeable future, Prime Minister Justin Trudeau said on Thursday, a day after what he called a “colorful” call with President Donald Trump. Trudeau said Canada would continue to engage with senior Trump administration officials about the tariffs, reiterating that his … Read more
Canada’s merchandise trade surplus in January rose to its highest level since May 2022, as both exports and imports surged in the face of tariff threats by the United States.
TD Bank economist Rishi Sondhi says the strength in exports shown in January…
By Laila Kearney US is a net importer of electricity from Canada Northeast US could be hardest hit by energy tariffs on Canada US grid operators are unclear if tariffs apply to power NEW YORK, March 5 (Reuters) – Swelling U.S. power prices may rise even faster in some parts of the country if 10% … Read more
Summary • Trump vows ‘maximum pressure’ to drive Iran oil exports to zero • Under new plan, US allies could stop and inspect tankers at sea • Iran has retaliated at previous attempts to stop oil exports WASHINGTON, March 6 (Reuters) – President Donald Trump’s administration is considering a plan to stop and inspect Iranian … Read more
By Tim Cocks, Francesco Guarascio and Fransiska Nangoy JETP formed to aid transition from coal South Africa, Indonesia, Vietnam and Senegal first beneficiaries US informs South Africa of decision to withdraw March 5 (Reuters) – The United States is withdrawing from the Just Energy Transition Partnership, a collaboration between richer nations to help developing countries … Read more
U.S. President Donald Trump will exempt automakers from his punishing 25% tariffs on Canada and Mexico for one month as long as they comply with existing free trade rules, the White House said on Wednesday, a development that halted at least for now Wall Street’s steepest skid in nearly three months. Trump is also open … Read more
Mexican state company Pemex is in talks with potential buyers in Asia, including China, and Europe, as it seeks alternative markets for its crude after U.S. President Donald Trump imposed tariffs on imports, a senior Mexican government official said. Trump this week implemented 25% tariffs on goods from Mexico and Canada. While Canadian crude won … Read more
WASHINGTON, March 5 (Reuters) – The U.S. Department of Energy said on Wednesday it has approved an extension of a permit for exports of liquefied natural gas from a Golden Pass LNG LLC project, jointly owned by QatarEnergy ExxonMobil (XOM.N), being built in Texas. The approval will grant additional time to begin LNG exports to … Read more
(Reuters) – U.S. President Donald Trump and Canadian Prime Minister Justin Trudeau spoke for about 50 minutes on Wednesday and discussed fentanyl smuggling and trade, said a Canadian source directly familiar with the conversation. Teams from both nations will continue to hold discussions on Wednesday, said the source, who did not give details. U.S. Commerce … Read more
Summary • Brent and WTI recover slightly from multi-year lows • Trump gives automakers temporary tariff exemption • US crude stockpiles rose more than expected last week LONDON, March 6 (Reuters) – Oil prices rose on Thursday, recovering slightly from a multi-year low, though Brent was still below $70 under pressure from trade tariffs between … Read more
Summary • Canadian oil faces 10% tariff, less than for other imports • Canada supplies 50% of US crude imports • Canadian crude discount widens LONDON, March 6 – When U.S. President Donald Trump announced tariffs on Canadian and Mexican imports this week, he gave Canadian energy a modest break, showing “Tariff Man” will engage … Read more
By Matthew D. Mitchell and Meg Tuszynski President Trump’s constructive effort to bolster American economic freedom with his tax and regulatory plans is under threat. Not from Democrats, but from the president himself. That’s because the second chapter of his trade war is likely to undermine all of it. People have more economic freedom when … Read more
(Reuters) – U.S. President Donald Trump and Canadian Prime Minister Justin Trudeau are scheduled to a speak on Wednesday, a day after Trump’s new 25% tariffs on imports from Mexico and Canada took effect, according to a source with knowledge of the matter. The tariff moves, which could upend nearly $2.2 trillion in annual trade, … Read more
(Reuters) – U.S. crude stocks rose while gasoline and distillate inventories fell in the week ending February 28, the Energy Information Administration said on Wednesday. Crude inventories rose by 3.6 million barrels to 433.8 million barrels in the week, the EIA said, compared with analysts’ expectations in a Reuters poll for a 341,000-barrel rise. Crude … Read more
(Reuters) – U.S. natural gas futures edged up to a fresh 26-month high on Wednesday on record flows to liquefied natural gas export (LNG) plants and forecasts for higher demand this week than previously expected. Traders said prices also gained support on worries gas exports from Canada to the U.S. could decline due to U.S. … Read more
By Gavin Maguire LITTLETON, Colorado, March 5 (Reuters) – Energy product traders, utilities, investors and business executives are among those scrambling to assess the likely impact of new steep tariffs on the United States’ largest trade partners, which kicked in on Tuesday. New 25% tariffs on imports from Mexico and Canada, along with a doubling … Read more
Is OPEC’s iron grip on the oil markets a thing of the past? Events over the last 24 hours suggest power in the oil market has shifted to Washington from Riyadh – in part because of U.S. President Donald Trump and in part because of longer-term shifts. Trump on Tuesday announced 25% tariffs on imports … Read more
President Trump defended his tariff plan, saying it would raise “trillions and trillions” in revenue and rebalance trading relationships, despite acknowledging it may cause economic pain. Summary by Bloomberg AI Trump’s speech focused on issues like transgender rights, migrant crime, and diversity, equity, and inclusion, with relatively little discussion of … Read more
President Donald Trump touted his administration’s work on a “gigantic natural gas pipeline in Alaska” during his joint address to Congress. Summary by Bloomberg AI The project, which has been planned for decades, aims to transport natural gas across the state and export it overseas, with potential investment from Japan, South Korea, and other nations. … Read more
Phillips 66 is fighting back against activist investor Elliott Investment Management in a letter to shareholders Wednesday. In the letter, which was reviewed by Bloomberg News, the energy company confirmed it met with Elliott earlier this week in New York before the hedge fund forged ahead with nominating candidates to Phillips 66’s board. The activist on Tuesday nominated seven directors, … Read more
Global oil demand will hit a record this year, driven by consumption in Asian countries, particularly China and India. Summary by Bloomberg AI Oil use is set to rise by 1.3 million barrels a day this year to just over 106 million a day, driven by petrochemicals and jet fuel. Summary by Bloomberg AI The … Read more
Bloomberg News US Commerce Secretary Howard Lutnick is signaling there might be some relief from tariffs for Mexico and Canada sooner rather than later. Maybe even today. After two straight days of plunging equity markets as the largest act of American protectionism since the 1930s took hold, Lutnick said he spent all day on the … Read more
(Reuters) – Canadian midstream company Enbridge said on Tuesday that it plans to invest $2.5 billion in its liquids and natural gas systems, with $2 billion allocated to its Mainline network through 2028. The Mainline is North America’s largest crude oil pipeline network and transports light and heavy crude oil, natural gas liquids and refined … Read more
Affects 1.5 million homes in Minnesota, Michigan and New York Bloomberg News Ford has written letters to the governors of those states to inform them of the surcharge, he told reporters at the provincial legislature. “If these tariffs persist, if the Trump administration follows through on any more tariffs, we will immediately apply a 25 … Read more
My testimony for the House Oversight Committee’s hearing on “Leading the Charge: Opportunities to Strengthen America’s Energy Reliability.” By Alex Epstein Below is a video of my spoken testimony and Q&A, along with my prepared remarks, for last week’s House Oversight Committee’s hearing on “Leading the Charge: Opportunities to Strengthen America’s Energy Reliability.” Introduction America … Read more
In the dynamic realm of H2S reporting within the oil and gas sector, the drive for efficiency and accuracy is more crucial than ever. This is where modern web-based tools, like XI Technologies’ RegulatorySuite, are making significant strides. These tools are designed to streamline H2S reporting processes, automating tasks to save time and enhance accuracy. Key … Read more
As the demand for sustainable energy solutions grows, Edmonton Exchanger (EDEX) stands out as a key supplier to the hydrogen and carbon capture industries. As a family-owned company that promotes a family culture, many employees have spent their entire careers at Edmonton Exchanger. This enables the company to develop and maintain its people, directly correlating … Read more
Summary • Brent down 1.4%, WTI declines 1.9% • Brent hovers around $70/bbl after six-month low in previous session • US tariffs escalate trade tensions • Canada, China retaliate against Trump tariffs • OPEC+ to increase output from April March 5 (Reuters) – Oil prices declined for a third day on Wednesday, as investors worried … Read more
(Reuters) – U.S. President Donald Trump’s administration said on Tuesday it is ending a license that it had granted to U.S. oil producer Chevron since 2022 to operate in Venezuela and export its oil, after Washington accused President Nicolas Maduro of not making progress on electoral reforms and migrant returns. Chevron will have through April … Read more
(Reuters) – Tariffs on Canadian oil would need to be in place for years before significantly altering the amount of crude the U.S. imports from its northern neighbour, the CEO of Canadian pipeline company Enbridge Inc. said on Tuesday. CEO Greg Ebel told reporters the energy systems of the two countries are too integrated and … Read more
Prime Minister Justin Trudeau told U.S. President Donald Trump on Tuesday that his new tariffs on Canadian imports were “a very dumb thing to do” and said Ottawa was striking back immediately. Trudeau, speaking hours after Trump launched a trade war against Mexico and Canada, said Canada was imposing immediate 25% tariffs on C$30 billion … Read more
DUBAI, United Arab Emirates (AP) — Saudi Arabia’s state-owned oil giant Aramco reported a $106.25 billion profit in 2024 on Tuesday, down 12% from the prior year as lower energy prices now squeeze the kingdom’s multi-trillion-dollar development plans. Already, Saudi’s de facto ruler Crown Prince Mohammed bin Salman has been digging a straight-line city in … Read more
(Reuters) – U.S. President Donald Trump’s new 25% tariffs on imports from Mexico and a 10% tariff on Canadian energy took effect on Tuesday, along with a doubling of duties on Chinese goods to 20%, sparking trade wars that could slam economic growth and raise gasoline prices for Americans. Canada and Mexico are the top … Read more
U.S. natural gas futures jumped about 5% to a 26-month high on Tuesday on record flows to liquefied natural gas (LNG) export plants and forecasts for higher demand next week than previously expected. Front-month gas futures for April delivery on the New York Mercantile Exchange were up 18.5 cents, or 4.5%, to $4.307 per million … Read more
U.S. President Donald Trump’s new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with a doubling of duties on Chinese goods to 20%, launching new trade conflicts with the top three U.S. trading partners. The tariff actions, which could upend nearly $2.2 trillion in two-way annual U.S. trade went live … Read more
(Reuters) – Shell’s Director of Integrated Gas and Upstream, Zoe Yujnovich, will step down at the end of the month after more than a decade with the oil major, it said on Tuesday. In a move aimed at simplifying its leadership structure, Shell has appointed Cederic Cremers as President of Integrated Gas and Peter Costello … Read more
South Korea, a leading fossil fuel importer, has expressed interest in participating in a $44 billion gas pipeline in Alaska in the form of a joint development between South Korea, the U.S. and Japan, Yonhap News Agency reported on Tuesday. South Korean Industry Minister Ahn Duk-geun indicated interest in joining the Alaska gas project … Read more
The OPEC+ group of crude oil exporters justified their decision to increase production by pointing to “the healthy market fundamentals and the positive market outlook.” They must be looking at a completely different market to the rest of us. OPEC+, which includes the Organization of the Petroleum Exporting Countries, plus Russia and other allies, said … Read more
By Curtis Williams Most U.S. LNG exports in February went to Europe European prices remain elevated, attracting U.S. exports U.S. begins to benefit from Plaquemines LNG export plant startup HOUSTON, March 3 (Reuters) – Europe soaked up most U.S. liquefied natural gas (LNG) exports for the second straight month in February, as cold weather and … Read more
WASHINGTON, March 3, 2025 /PRNewswire/ — With tariffs now on Canadian and Mexican goods and the potential impact on the American economy, the U.S. Conference of Mayors’ (USCM) Executive Committee passed an emergency resolution today urging the Trump administration to protect and promote trade relations with both countries. Mayors stress that tariffs would inflict severe economic … Read more
Summary • OPEC+ to proceed with planned April oil output increase • US tariffs on Mexico, Canada took effect on Tuesday • China announces 10-15% hikes to import levies on US products (Reuters) – Oil prices extended losses on Tuesday following reports that OPEC+ will proceed with a planned output increase in April and as … Read more
(Reuters) – U.S. natural gas futures jumped about 7% on Monday on record flows to liquefied natural gas (LNG) export plants and forecasts for higher demand over the next two weeks than previously expected. Traders said that U.S. gas prices also gained support from reports that Germany was not in talks with Russia over a … Read more
(Reuters) – U.S. President Donald Trump is expected to decide on Monday what levels of tariffs he will impose early on Tuesday on Canada and Mexico amid last-minute negotiations over border security and efforts to halt the inflow of fentanyl opioids. Trump has vowed to impose 25% tariffs on all imports from Canada and Mexico, … Read more
BERLIN, March 3 (Reuters) – Germany’s energy independence from Moscow is crucial and it is not in talks with Russia over a “possible pipeline-based supply of Russian gas” via the partly damaged Nord Stream 2 pipeline, the economy ministry said on Monday. The ministry was responding to a weekend report in the Financial Times that … Read more
By Grant Smith, Julian Lee, and Bill Lehane OPEC’s crude production rose to the highest level in more than a year ahead of the group’s planned supply revival, driven by gains in Iraq, Venezuela and the United Arab Emirates. Output increased by 240,000 barrels a day last month to a daily average of 27.35 million … Read more
By Daniel Flatley and Brendan Murray Supply Lines is a daily newsletter that tracks global trade. Sign up here. After promising during his election campaign to put import taxes back at the center of US economic policy, President Donald Trump moved swiftly once back in office, announcing significant new tariffs aimed at America’s trading partners. … Read more
March 3, 2025 Frontier’s SCS Hub, spanning nearly 100,000 acres in Wyoming, will provide open-access CO₂ storage for industrial emitters and ethanol producers using its CO₂-by-rail strategy Baker Hughes will provide key CCS and power generation technologies, including CO₂ compression, well design, and its industrial NovaLT™ gas turbines to support power solutions for data centers … Read more
Even the oil giants that attempted to switch away from fossil fuels are going back to oil and gas. The chief executive of BP Plc oozed confidence as he strode out onto a Houston stage in 2023 to tell an audience of fellow oil executives that he no longer ran an oil company. “I lived in … Read more
US to add 25% levies on Mexican products, most Canadian goods Trump would also double China levy barring last-minute delay President Donald Trump is on the verge of slapping new tariffs on Canada and Mexico while doubling a levy on China, moves that would dramatically expand his push to revive domestic manufacturing, tap new revenues … Read more
HOUSTON, Feb. 28, 2025 (GLOBE NEWSWIRE) — Superior Energy Services, Inc (“Superior”) announced the acquisition of Rival Downhole Tools (“Rival”), an industry-leading provider of premium downhole drilling tools. “This acquisition is part of Superior’s ongoing efforts to expand our position in the oilfield services sector by providing technologies that enhance our customers’ efficiencies and reduce … Read more
HOUSTON, March 03, 2025 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“Vaalco” or the “Company”) announced that it has farmed into the CI-705 block offshore Côte d’Ivoire. Vaalco will become operator of the block with a 70% working interest and a 100% paying interest though a commercial carry arrangement and is partnering … Read more
Trump wants rare earth.What are rare earth elements and why are they important? (Reuters) – Rare earth metals are making headlines as demand rises for products from smartphones to wind turbines, and as governments seek secure supply. Here are some basic facts about them: WHAT ARE THEY? Rare earths are a group of 17 elements … Read more
(Reuters) – Shell is considering a potential sale of its chemicals assets in Europe and the United States, the Wall Street Journal reported on Sunday, citing sources familiar with the matter. The energy group has hired Morgan Stanley to conduct a strategic review of its chemicals operations, the report said. Shell and Morgan Stanley declined … Read more
Summary Canada sends 90% of oil exports to US refiners Canadian drilling sector still not recovered from decade of job losses Retaliatory tariffs would raise cost of drilling inputs CALGARY, March 3 (Reuters) – Canada’s oilfield drilling and services sector is already showing signs of slowing due to U.S. President Donald Trump’s threatened tariffs, triggering … Read more
Author: Monica Vavra, Reporting Director, Montrose Environmental Group As environmental regulations continue evolving, new electronic reporting requirements are being introduced for emissions testing of internal combustion engines. Electronic reporting, such as reporting done utilizing the EPA’s Electronic Reporting Tool (ERT), has become an essential part of emissions testing and compliance reporting, ensuring that information is … Read more
At Kathairos Solutions, we specialize in delivering scalable, power-free solutions that help oil and gas producers eliminate methane emissions efficiently and cost-effectively. Our ability to rapidly scale is made possible through our strong partnership with Chart Industries, allowing us to maintain a robust inventory and meet customer demand in under six weeks—a significant advantage over … Read more
• Zelenskiy says he can salvage relationship with Trump • US tariffs on Mexico and Canada to take effect on Tuesday • Chinese manufacturing activity expanded in February LONDON, March 3 (Reuters) – Oil prices were little changed on Monday after registering a monthly loss for the first time since November, while investors await the … Read more
(Reuters) – U.S. crude oil production rose to a record 13.491 million barrels per day in December, up from 13.314 million bpd in November and the prior all-time high of 13.436 million in October, the U.S. Energy Information Administration said in its Petroleum Supply Monthly report on Friday. Product supplied of crude oil and petroleum, … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a fifth week in a row for the first time since May 2022, 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 … Read more
Bloomberg News Trump has sought to pressure Zelenskiy into agreeing to let the US benefit from any of Ukraine’s untapped resources, at a time when Washington is seeking to secure supplies of critical minerals. His pursuit has seen him make some huge demands: At one point he wanted the equivalent of $500 billion from rare earths, … Read more
The sector is very much in limbo following a surge in activity during the Biden presidency. By Gabrielle Coppola ‘We Have Work to Do’ Last week, I attended the annual gathering of NaatBaat International, a trade group focused on building a homegrown battery industry in North America. The crowd of startup executives, scientists and consultants was about … Read more
Summary • Brent, WTI head for first monthly drop in three months • Iraq to announce resumption of oil exports from Kurdistan region HOUSTON, Feb 28 (Reuters) – Oil prices fell on Friday and were headed for their first monthly drop since November, as markets watched an Oval Office argument between the U.S. and Ukrainian … Read more
U.S. natural gas futures eased about 1% to a two-week low on Friday on record output and forecasts for milder weather that should keep heating demand low, allowing utilities to pull less gas out of storage. Extreme cold so far this year, however, has already forced energy firms to pull huge amounts of gas out … Read more
(Reuters) – A consortium led by U.S. major Exxon Mobil in Guyana had recovered at the end of January $33.9 billion of the $41.1 billion it has spent at its massive Stabroek offshore block, the country’s Vice President, Bharrat Jagdeo, told Reuters. Since it first found oil in Guyana a decade ago, the Exxon-led group … Read more
At least five leaders at PHMSA took the Trump buyout offer Exodus comes amid Energy Transfer fuel leak in Bucks County More than half of the senior executives at a key US government regulatory body responsible for overseeing safety of the US pipeline system will depart the agency in the next three months, according to … Read more
Bllomberg News Today, reporter Alex Longley looks at the byproducts of oil output that are making it harder to gauge overall supplies. Dig into predictions for global oil production and you’ll see the growing importance of a niche gassy fuel. Since May, the US government’s 2025 estimates for global crude output have been pared back … Read more
Board declares dividend of $0.0625 per common share Company announces the timing of its 2024 year end earnings release and conference call HOUSTON, Feb. 27, 2025 (GLOBE NEWSWIRE) — Epsilon Energy Ltd. (“Epsilon” or the “Company”) (NASDAQ: EPSN) today announced that its Board of Directors has declared a dividend of $0.0625 per share of common … Read more
(Reuters) – Lyondell Basell Industries’ will lay off 345 workers, or 86% of the workforce, at its shuttered Houston refinery on April 17, according to a filing with the Texas Workforce Commission. There are around 400 Lyondell employees working at the 263,776 barrel-per-day Houston refinery. About 70% of them are hourly workers represented by the … Read more
By Mark Burton and Kate Sullivan US President Donald Trump is close to striking a deal to grab a share of Ukraine’s natural resources as he pushes for an end to Russia’s three-year war in the country. Listen to the Here’s Why podcast on Apple, Spotify or anywhere you listen. Trump has sought to pressure … Read more
MANDAN, N.D. (AP) — An attorney for a Texas pipeline company said Wednesday that he will prove various Greenpeace entities coordinated delays and disruptions of a controversial oil pipeline’s construction in North Dakota, and defamed the company to its lenders. Attorneys for the Greenpeace defendants told a jury there is no evidence to back up … Read more
(Reuters) – Expand Energy, formerly known as Chesapeake Energy and the biggest natural gas producer in the U.S., said on Thursday it was on track to boost output by more than 5% in 2026 from levels expected in 2025 so long as market conditions warrant such a move. CEO Nick Dell’Osso told analysts during the … Read more
Summary • Brent, WTI head for first monthly drop in three months • Iraq to announce resumption of oil exports from Kurdistan region PDVSA, Chevron may strike agreement to export Venezuelan oil – sources • OPEC+ debating whether to increase supply in April – sources Feb 28 (Reuters) – Oil prices are down over 1% … Read more
Summary Share price underperformed peers Revenues from renewables sector complicated by costs and technical problems Elliott Management stake increased the pressure for strategy change Renewable energy set to grow faster than fossil fuels (Reuters) – BP has returned to its oil and gas roots in a spectacular about-turn following its trailblazing attempt five years ago … Read more
(Reuters) – OPEC+ is debating whether to raise oil output in April as planned or freeze it as its members struggle to read the global supply picture because of fresh U.S. sanctions on Venezuela, Iran and Russia, eight OPEC+ sources said. OPEC+ usually confirms its supply policy one month in advance to have time to … Read more
(Reuters) – Asia’s crude oil imports are off to a weak start in 2025, as top importer China continues to buy less and new sanctions put the brakes on cargoes from the continent’s top supplier Russia. Asia’s imports for the first two months of the year are on track to be 26.17 million barrels per … Read more
Repeal resolution heads next to Trump for his signature Ends incentive to control leaks of potent climate-warming gas By Ari Natter The Senate voted Thursday to repeal a new US fee on climate-warming methane emissions from oil and gas producers, sending the measure to the White House for President Donald Trump’s signature. The repeal, which … Read more
New plants are expected to start up between 2029 and 2032 Energy industry anticipates surge in demand from data centers By Josh Saul GE Vernova Inc., NRG Energy Inc. and Kiewit Corp. agreed to develop up to 5.4 gigawatts of gas-fired power plants, with one NRG executive saying that artificial intelligence is driving an electricity … Read more
(Reuters) – German wind turbine maker Nordex expects continued growth in its U.S. market despite changes to the renewables landscape in the short term, its CEO said after better than expected core earnings. U.S. President Donald Trump suspended offshore leasing for wind power on his first day in office in January, hitting share prices of … Read more
U.S. crude oil stockpiles fell unexpectedly last week as refining activity ticked higher, while gasoline and distillate inventories posted surprise builds, the Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 2.3 million barrels to 430.2 million barrels in the week ended February 21, the EIA said, compared with analysts’ expectations in a … Read more
By Pierre Briancon BERLIN, Feb 26 (Reuters Breakingviews) – The minerals deal that U.S. President Donald Trump could soon sign with Ukraine may not be the colonial-style asset grab it appears to be. President Volodymyr Zelenskiy can still turn it to his country’s long-term advantage. Giving Washington a piece of Ukraine’s critical minerals and other … Read more
Summary • Brent and WTI gain about 1% • Both benchmarks hit two-month lows in previous session Reuters) – Oil prices rebounded on Thursday as supply concerns resurfaced after U.S. President Donald Trump’s revoked a licence granted to U.S. oil major Chevron to operate in Venezuela. Gains were capped, however, by signs of a potential … Read more
U.S. President Donald Trump on Wednesday said he was reversing a license given to Chevron to operate in Venezuela by his predecessor Joe Biden more than two years ago, accusing President Nicolas Maduro of not making progress on electoral reforms and migrant returns. In a post on Truth Social, Trump said he was “reversing the … Read more
February 26, 2025 CNW 2024 Non-GAAP Free Cash Flow Up Approximately 50% Year-Over-Year Highlights: Full Year 2024 Generated cash from operating activities of $3.7 billion, Non-GAAP Cash Flow of $4.0 billion and Non-GAAP Free Cash Flow of $1.7 billion after capital expenditures of $2.3 billion Produced average total volumes of 585 thousand barrels of oil equivalent per day (“MBOE/d”), including 211 thousand … Read more
Since it first imposed sanctions on Venezuela’s energy sector in 2019, the United States has granted individual licenses to some oil companies that allow them to export the South American country’s oil to specific destinations.Washington had imposed the sanctions over reports by international observers of irregularities in elections that have repeatedly kept President Nicolas Maduro … Read more
U.S. imports of crude oil from Venezuela averaged 222,000 barrels per day (bpd) in the first 11 months of 2024, according to U.S. Energy Information Administration data, making it the fourth largest crude supplier to the United States.While Venezuela’s oil accounted for only 3.5% of total U.S. crude imports in November, it was about 13% … Read more
CALGARY, Feb 26 (Reuters) – The Canadian energy sector has proposed several major oil pipeline projects in the last decade, but only the Trans Mountain expansion project was completed. Here, a look at three other pipelines that never came to be: Energy East – A proposed C$15.7-billion project (US$11.0 billion), Energy East would have carried … Read more
By Stephanie Kelly and Jarrett Renshaw NEW YORK, Feb 24 (Reuters) – The American Petroleum Institute trade group on Monday pressed for a nationwide policy on higher-ethanol blends of gasoline after the President Donald Trump’s administration said on Friday it would move ahead with expanded sales of the product in certain Midwestern states. The U.S. … Read more
MADRID, Feb 20 (Reuters) – Spanish energy company Repsol (REP.MC) cut its 2030 target for green hydrogen production by up to 63%, Chief Executive Josu Jon Imaz said on Thursday, highlighting the challenges of a high-cost industry heavily reliant on subsidies. Repsol now expects to achieve between 0.7 gigawatts (GW) and 1.2 GW of electrolyser … Read more
Environmental chief urges rewrite of 2009 climate finding Measure provides legal foundation for array of climate rules President Donald Trump’s top environmental regulator is recommending the US government scrap its formal conclusion that greenhouse gases endanger the public, a move that would sweep away the legal foundation for regulations limiting planet-warming pollution from power plants, automobiles and … Read more
Weeks of colder-than-expected temperatures are boosting domestic prices for the fuel. Welcome to our guide to the energy and commodities powering the economy. Today, reporter Elizabeth Elkin explores the recent weather-driven rally for US natural gas. Old Man Winter has finally yanked the US natural gas market from the ditch. Record cold has been stoking demand … Read more
Shale producer sees plant providing power to data centers Company also plans to use power for its field operations Diamondback Energy Inc. is in talks to form a power joint venture that would solve some of the shale giant’s own needs in the Permian Basin while also selling electricity to artificial intelligence data centers in West … Read more
BP cuts renewable investment and boosts oil and gas in strategy shift Summary • BP boosts oil and gas investment to $10 bln annually • Cuts transition spending by over $5 billion yearly • Reviewing Castrol, targets $20 billion in divestment (Reuters) – BP (BP.L), opens new tab slashed planned investment in renewable energy and … Read more
The anti-oil and gas policies of the Liberal-NDP government have driven investment away from Canada Summary • Canada sends 90% of oil exports to US refiners • Two east-west pipeline projects canceled in last decade • Overruns pushed Trans-Mountain expansion costs to C$34 bln (Reuters) – The Canadian government would have to play a significant … Read more
Burgum suggests stronger USGS role to analyze the potential Says US public lands hold natural resources worth trillions Doug Burgum speaks during the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, on Feb. 22.Photographer: Kent Nishimura/Bloomberg By Jennifer A Dlouhy Interior Secretary Doug Burgum touted a plan for mapping deposits of oil, gas and … Read more
U.S. oilfield services firm SLB said on Tuesday it now expects its buyout of ChampionX to close by the end of the first quarter or early the second quarter of 2025. SLB is legally permitted to close the all-stock transaction – now worth $5.82 billion – in the U.S., but it has been held up … Read more
Republican U.S. President Donald Trump said on Monday he wanted the Keystone XL Pipeline built and pledged easy regulatory approvals for the project, which was opposed for years by environmentalists before its permit was revoked by the Biden administration. The pipeline was first proposed in 2008 to bring oil from Canada’s Western tar sands to … Read more
Summary • Potential peace deal between Russia and Ukraine weighs on prices • Oil sanctions in focus after talks between U.S. and Russia • Investors await US oil inventory data from EIA (Reuters) – Oil prices held at two-month lows on Wednesday as a potential peace deal between Russia and Ukraine continued to weigh on … Read more
Summary Asia’s economic growth to drive LNG demand increase China and India expand LNG infrastructure amid rising demand US and Qatar to dominate LNG supply by 2035 (Reuters) – Global demand for liquefied natural gas is estimated to rise by around 60% by 2040, driven largely by economic growth in Asia, AI impact and efforts … Read more
Keystone XL redux? Trump says he wants defunct oil pipeline back from the dead CALGARY – U.S. President Donald Trump says he’d like to see the Keystone XL pipeline brought back from the dead, garnering an enthusiastic reception from Alberta’s premier but a tepid one from the company spun off from its erstwhile proponent. … Read more
(Reuters) – Chevron said on Monday it would reorganize some of its business structures and reshuffle the leadership team, the latest move by the U.S. energy major to simplify its operations. The company has said it would lay off up to 20% of its global workforce by the end of 2026, as it navigates cost … Read more
(Reuters) – Bank of America expects Brent crude to average $75 per barrel in 2025 and $73 in 2026, citing low global oil inventories, balanced supply and demand, and about 5 million barrels per day of OPEC spare production capacity. The Organization of the Petroleum Exporting Countries and its allies including Russia, a group known … Read more
By Grant Smith The International Energy Agency, the west’s energy watchdog, is considering reviving one of its long-term energy demand scenarios after criticism from US Republican leaders. The IEA’s decision in 2020 to exclude the so-called Current Policies Scenario from its reports prompted accusations that the agency was letting its commitment to net zero climate … Read more
By Jim Warren Greenpeace and the UK environmental group Uplift won a court case in Scotland last month after claiming two new offshore oil projects were unlawfully approved. The ruling blocks Equinor and Shell, from developing the Rosebank field 80 miles west of the Shetland Islands in the Atlantic and the Jackdaw field in the … Read more
Summary • Supply concerns emerge from fresh US sanctions on Iran • Strong global refining margins proving supportive, analysts say • Uncertain demand outlooks cap gains (Reuters) – Oil prices were steady on Tuesday, after a bump the previous day when fresh U.S. sanctions imposed on Iran increased concerns that supply might tighten, as global … Read more
MIDLAND, Texas, Feb. 24, 2025 (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 … Read more
MIDLAND, Texas, Feb. 24, 2025 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced financial and operating results for the fourth quarter and full year ended December 31, 2024. FOURTH QUARTER 2024 HIGHLIGHTS Average production of 475.9 MBO/d (883.4 MBOE/d) Net cash provided by operating activities of $2.3 billion; Operating Cash … Read more
Announces deal to buy National Grid’s U.S. onshore renewables business including solar parks and onshore wind farms By Rachel Morison and William Mathis Brookfield Asset Management Ltd. agreed to spend US$1.7 billion in a deal to expand its U.S. onshore renewables business as the company bets there will be increasing demand for electricity from data … Read more
By Archie Hunter Gas, power and LNG are set to eclipse oil as the biggest driver of commodity trading profits, according to research from McKinsey & Co Inc. “In the last two years they’ve been almost parallel and we definitely see stronger fundamental growth prospects on the power, gas and LNG side going forward,” said … Read more
(Reuters) – U.S. natural gas futures fell more than 5% on Monday, dragged down by forecasts of milder weather and lower heating demand next week than previously anticipated. Front-month gas futures for March delivery on the New York Mercantile Exchange were down 30 cents, or 7.1%, at $3.93 per million British thermal units (mmBtu) at … Read more
HOUSTON–(BUSINESS WIRE)–Chevron Corporation (NYSE: CVX) today announced senior leadership changes as part of the company’s efforts to simplify its organizational structure, execute faster and more effectively, and be positioned for stronger long-term competitiveness. The company’s Oil, Products & Gas organization will be consolidated into two segments: Upstream and Downstream, Midstream & Chemicals. Mark Nelson will continue … Read more
(Reuters) – Exxon Mobil’s Australian unit will invest nearly $200 million in the Kipper 1B gas project, alongside its partners Mitsu and Woodside Energy the U.S. oil major said on the company website on Monday. The Australian Competition & Consumer Commission has warned that the east coast could face a gas supply shortage from 2027, … Read more
(Reuters) – U.S. natural gas futures jumped about 6% to a 25-month high on Friday as extreme cold over the past couple of weeks cut output by freezing wells and as gas flows to liquefied natural gas (LNG) export plants hit record highs. In addition, traders noted that colder temperatures than normal so far this … Read more
(Reuters) – Flows of crude oil through a pipeline from the semi-autonomous Kurdistan region in northern Iraq to Turkey could restart soon after an almost two-year shutdown. Sources told Reuters that U.S. President Donald Trump’s administration is piling pressure on Iraq to allow Kurdish oil exports to restart or face sanctions alongside Iran. But the … Read more
Summary • BP under pressure to boost returns from Elliott Investment Management • Changes to be announced on capital markets day investor update • BP’s shares have underperformed rivals Feb 24 (Reuters) – BP’s chief executive will scrap a target to increase renewable generation 20-fold by 2030, returning the focus to fossil fuels, as part … Read more
(Reuters) – U.S. Interior Secretary and co-chair of a new White House energy council Doug Burgum on Friday called for every U.S. power plant to produce 10-15% more electricity to meet the growing energy needs to expand artificial intelligence across the United States. “Winning the AI arms race doesn’t just take software developers. It takes … Read more
(Reuters) – OPEC and its allies face a tricky dilemma: should they start loosening oil production caps even though the crude supply and demand picture is unlikely to improve in the near future? They may well opt to again delay the crucial moment to keep prices steady, but they increasingly risk losing control of the … Read more
Drillers are ramping up consolidation as the new administration changes US policy toward fossil fuels. By David Wethe Welcome to our guide to the commodities powering the economy. Today, reporter David Wethe examines how the shale industry is responding to the Trump administration’s enthusiasm for fossil fuels. Appetite for deals in the US shale patch … Read more
U.S. President Donald Trump’s administration is piling pressure on Iraq to allow Kurdish oil exports to restart or face sanctions alongside Iran, eight sources with direct knowledge of the matter told Reuters. An advisor to the Iraqi prime minister denied in a statement there had been a threat of sanctions or pressure on the government … Read more
HOUSTON, Feb. 21, 2025 /CNW/ — Shell Offshore Inc. and Shell Pipeline Company (SPLC), subsidiaries of Shell plc (Shell), have signed an agreement to increase their stake in the Ursa platform in the Gulf of America. This will increase Shell’s working interest (WI) in its operated Ursa platform, pipeline, and associated fields from 45.3884% to a maximum of 61.35%, … Read more
• Iraq-Turkey pipeline expected to resume exports soon • War in Ukraine remains in focus • Russian oil supply will remain curbed by OPEC+ policy (Reuters) – Oil prices steadied on Monday as investors awaited clarity on talks to end the war in Ukraine and weighed up the prospect of a resumption in crude exports … Read more
Summary • Japan, other Asian buyers look to step up US LNG purchases • Alaska project featured prominently in Trump talks with Japan PM Ishiba, officials say • US stressed Japan’s trade imbalance, maritime security in Ishiba meeting, officials say • Alaska LNG developers seeking investment from firms such as Japan’s Inpex, sources say (Reuters) … Read more
Goldman Sachs said on Friday a proposed 10% U.S. oil tariff could cost foreign producers $10 billion per year, as Canadian and Latin American heavy crudes remain reliant on U.S. refiners due to limited alternative buyers and processing capabilities.President Donald Trump plans to impose a 25% tariff on Mexican crude and a 10% levy on … Read more
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COMMENTARY: Understanding EPA’s “Biggest Deregulatory Action in U.S. History” – Alex Epstein