Weak oil prices, limited shale acreage to hit energy M&A in 2025, Enverus says HOUSTON, April 23 (Reuters) – The U.S. upstream oil and gas M&A market is bracing for the most challenging conditions since the COVID-19 pandemic as oil prices slump and prime acreage dries up, analytics firm Enverus said on Wednesday, even though … Read more
(Reuters) – The Trump administration on Wednesday said it would implement an emergency permitting process for energy and mining projects on federal lands, slashing approval times that typically take months or years to at most 28 days. The U.S. Department of the Interior move is in response to President Donald Trump’s national energy emergency declaration, which … Read more
By Christine Dobby Laurent Ferreira. Photographer: Neal Rockwell/Bloomberg National Bank of Canada’s chief executive officer called for a “complete overhaul” of the country’s economic and industrial policies just days before Canadians are set to vote in the federal election. Laurent Ferreira, who has led the Montreal-based bank since 2021, said Thursday that the biggest risk … Read more
(Reuters) – Lyondell Basell Industries permanently shut its 263,776 barrel-per-day (bpd) Houston refinery in February, said Peter Vanacker, the company’s chief executive during a Friday conference call. Reuters reported on Feb. 7 the company completed the shutdown of the refinery. Lyondell first announced plans in 2023 to shut the refinery, which has been in operation … Read more
All the IRA “tax credits” are subsidies for inferior, often totally unprofitable forms of energy. By Alex Epstein Congress’s new budget should eliminate all IRA “tax credits” because: They are subsidies They promote inferior energy They raise energy costs They make energy unreliable They increase our debt They make our economy less productive They don’t … Read more
Energy Secretary Chris Wright reassured US oil companies that the turmoil from President Donald Trump’s trade war is short-term and the administration supports increased crude output. Wright predicted that the uncertainty will last only “a few more weeks” and that the administration is focused on making it cheaper and easier to pump crude and natural … Read more
Summary Brent, WTI down, erasing gains following tariff uncertainty Both contracts set for weekly declines OPEC+ to consider another accelerated oil output hike for June NEW YORK, April 25 (Reuters) – Oil prices edged higher on Friday but posted a weekly decline, under pressure from market expectations of oversupply and uncertainty around tariff talks between … Read more
The World Bank’s steering committee on Friday endorsed the lender’s plans to explore options to expand energy access, including potential financing for nuclear energy, in a move in line with directives to broaden energy financing by U.S. President Donald Trump’s administration. A statement from the World Bank and International Monetary Fund joint Development Committee called … Read more
(Reuters) – Activist investor Elliott Investment Management wants oil major BP to replace its strategy chief and create separate units for upstream and downstream activities to improve accountability, a source familiar with the situation said on Friday. Elliott holds a stake of a little more than 5% in BP, the strategy, sustainability and ventures arm … Read more
(Reuters) – Phillips 66 reported a bigger-than-expected loss for the first quarter on Friday, hurt by lower refining margins amid widespread maintenance and turnaround activities across the U.S. refining sector. U.S. refineries typically undergo seasonal maintenance and turnaround activities in preparation for the summer driving season, when fuel demand significantly increases. However, this scheduled downtime … Read more
Summary SLB joins rivals Halliburton and Baker Hughes in flagging caution Latin America revenue dips 10%, driven by a sharp decline in drilling in Mexico North America revenue rises 8% April 25 (Reuters) – Top oilfield services provider SLB missed estimates for first-quarter profit on Friday, as weaker Latin American demand dragged on its international business, … Read more
HOUSTON, April 24, 2025 (GLOBE NEWSWIRE) — APA Corporation (Nasdaq: APA) and its partners Lagniappe Alaska, LLC, an Armstrong company, and Oil Search (Alaska), LLC, a subsidiary of Santos Limited, today announced the results of the successful flow testing of the Sockeye-2 exploratory well. Apache holds a 50% working interest, operator Lagniappe and partner Santos … Read more
THE WOODLANDS, Texas, April 24, 2025 (GLOBE NEWSWIRE) — Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today provided updated guidance for the second quarter of 2025, which included reaffirming its previous outlook for oil and total sales volumes despite a significant reduction in the Company’s capital spending guidance, which was lowered in … Read more
By Grant Smith Ed Miliband during the International Summit on the Future of Energy Security in London. Photographer: Chris J. Ratcliffe/Bloomberg At this week’s flagship international summit on energy security, the clashing visions of the US and its allies were on full display. Beginning with the event’s hosts — the International Energy Agency and the … Read more
(Reuters) – President Donald Trump’s energy security council plans to host a summit in Alaska in early June, when it hopes Japanese and South Korean officials will announce commitments to the Alaska LNG project, a source familiar with the matter said on Thursday. Trump has touted the $44 billion Alaska liquefied natural gas project, which … Read more
(Reuters) – Morgan Stanley Infrastructure Partners is exploring the sale of its majority stake in Brazos Midstream II, with a deal expected to value its holding at more than $2 billion including debt, three people familiar with the matter said. Brazos moves natural gas, natural gas liquids and oil from the wellheads of five Texas … 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 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 to … Read more
Summary Brent, WTI erase earlier gains following tariff uncertainty Both contracts set for weekly declines OPEC+ to consider another accelerated oil output increase for June LONDON, April 25 (Reuters) – Oil prices fell on Friday and were set for a weekly decline of over 2% on the back of oversupply concerns and uncertainty around tariff … Read more
Summary Private operators face heightened risks amid current economic conditions U.S. crude prices tumble to multi-year lows amid trade war Trump’s steel tariffs drive up costs Demand for fracking services falls as oil prices decline (Reuters) – Some small U.S. shale producers are putting the brakes on oil drilling as crude prices sink to multi-year … Read more
(Reuters) – The U.S. Interior Department said on Thursday it has implemented new guidelines for allowable pressure differences in a certain type of oil drilling in part of the Gulf of Mexico, changes it expects can boost U.S. oil output. President Donald Trump’s new Energy Dominance Council led by Interior Secretary Doug Burgum is looking … Read more
(Reuters) – The European Commission will in the next two weeks present a roadmap on how it intends to phase out all imports of Russian fossil fuels, its President Ursula von der Leyen said at an energy event in London on Thursday. The European Commission has pledged to quit Russian fossil fuels by 2027 in … Read more
(Reuters) – Germany’s domestic gas production fell 2.3% to 4.2 billion cubic metres in 2024 while oil output was stable at 1.6 million metric tons, industry association BVEG said on Thursday. The BVEG companies achieved a turnover of 2.4 billion euros ($2.7 billion) from their German production activities, down from 3 billion euros a year … Read more
(Reuters) – Valero Energy reported a first-quarter loss compared with a year-ago profit on Thursday, weighed down by lower refining margins and around $1 billion in impairment charges related to its West Coast assets. Excluding asset impairment loss, the second-largest U.S. refiner by capacity posted an adjusted profit of 89 cents per share, beating tempered expectations … Read more
By Arathy Somasekhar and Mrinalika Roy Baker Hughes sees 2025 upstream capex down by high-single digits Warns of tariff cost impact, working to raise domestic sourcing LNG technologies and equipment seen as bright spot for Baker HOUSTON, April 23 (Reuters) – U.S. oilfield service provider Baker Hughes (BKR.O) on Wednesday forecast steeper drops in spending … Read more
By Nicole Jao Investors keep focus on impact from Trump’s sweeping tariffs Analysts expect top refiners to report lower Q1 profits Earnings under pressure due to heavy maintenance, unplanned outages in Q1 Refining margins showed signs of improvement Trade wars dent refined product demand outloook NEW YORK, April 23 (Reuters) – Investors are expecting top … Read more
By Arathy Somasekhar Marketing of the ships indicates Chevron will not load all cargoes this month One Venezuelan crude cargo still pending return Vessels chartered by Vitol, Reliance and Maurel & Prom departing on schedule HOUSTON, April 23 (Reuters) – Some tankers Chevron had chartered to move crude from Venezuela to the United States this … Read more
An unusual consensus around energy policy has emerged in the campaign ahead of Canada’s April 28 election, with the two main candidates both promising to fast track energy projects to diversify oil exports away from the United States. U.S. President Donald Trump’s tariff threats and talk of annexing Canada as the 51st state sparked a … Read more
Summary Potential accelerated OPEC+ output increases weighs on market Kazakhstan to prioritise national interest in oil output US-China trade war could halve China’s oil demand growth (Reuters) – Oil prices recovered some losses on Thursday, with investors weighing a potential OPEC+ output increase against conflicting tariff signals from the White House and U.S.-Iran nuclear talks. … Read more
By Ruth Liao Liquefied natural gas traders can make a better profit from selling US LNG cargoes in Asia than offering the fuel in Europe, an opportunity that opened up for the first time in seven months, according to data from analytics firm Spark Commodities. The US-to-Asia arbitrage window emerged following a series of production … Read more
CALGARY, Alberta, April 23, 2025 (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 news release. This … Read more
With new machines from Ford, GM and others, Tesla’s share of the US EV market has slid. By Kyle Stock When Artie R. Williams decided it was time to kick his gas habit, he narrowed his search to three options: the Cadillac Optiq, a Porsche Macan EV and the Polestar 3. — none of which … Read more
By Weilun Soon The US’s campaign to impose “maximum pressure” on Iran’s economy now includes the Islamic Republic’s liquefied petroleum gas exports, as Washington broadens its focus beyond crude oil. The Treasury Department on Tuesday sanctioned Iranian national Seyed Asadoollah Emamjomeh, who’s known to ship liquefied petroleum gas and crude oil from the country to … Read more
(Reuters) – U.S. crude oil stockpiles rose unexpectedly last week as imports jumped, while both gasoline and distillate inventories fell more than expected, the Energy Information Administration said on Wednesday. Crude inventories rose by 244,000 barrels to 443.1 million barrels in the week ended April 18, the EIA said, compared with analysts’ expectations in a … Read more
(Reuters) – U.S. natural gas futures have fallen from a 26-month high hit last month in part due to investor worries that slower economic growth could reduce the amount of gas needed to power data centers and artificial intelligence (AI) in coming years. Analysts have warned that the fallout from U.S. President Donald Trump’s on-again … Read more
(Reuters) – The U.S. upstream oil and gas M&A market is bracing for the most challenging conditions since the COVID-19 pandemic as oil prices slump and prime acreage dries up, analytics firm Enverus said on Wednesday, even though dealmaking jumped last quarter to the second-best start to the year since 2018. The expected downturn in … Read more
Woodside Energy, Australia’s top gas producer, said on Wednesday it was assessing the impact of U.S. tariffs and other trade measures on its Louisiana liquefied natural gas plant project as it inches towards a final go-ahead. Woodside acquired the project, formerly called Driftwood, from Tellurian for $1.2 billion last year to position itself as … Read more
(Reuters) – U.S. oilfield technology firm Baker Hughes on Tuesday flagged a potential impact on its annual core profit of between $100 million and $200 million due to tariffs. U.S. President Donald Trump’s trade policy has heightened uncertainty in the energy industry, as the ensuing trade war is expected to curb global economic growth and, … Read more
(Reuters) – Willie Phillips, a Democratic commissioner on the U.S. Federal Energy Regulatory Commission, resigned on Tuesday, opening the way for President Donald Trump to nominate another member who would give the five-member panel a Republican majority. The resignation of Phillips, whose term had been set to go through June 30, 2026, allows Trump to … Read more
Halliburton reported lower first-quarter profit on Tuesday, as a slowdown in North American drilling activity weighed on demand and the oilfield services provider recorded a $356 million pre-tax charge.The company’s shares fell 4% in premarket trading following the results. Halliburton is the first of the Big Three U.S. oilfield services provider to report earnings as … Read more
By Timothy Gardner WASHINGTON, April 22 (Reuters) – A Michigan nuclear reactor hoping to be the first in the United States to restart after permanent closure has received about 10% of $1.52 billion in U.S. financing approved during former President Joe Biden’s term, the Energy Department said on Tuesday. The department’s Loan Programs Office approved … Read more
Below is an op-ed from Jacqueline Peterson, PhD, Chief External Affairs Strategist at Kathairos Solutions, exploring why oil and gas producers continue advancing methane mitigation—driven by technology, corporate strategy, and global market demands, regardless of shifting regulations. At CERAWeek 2025, the narrative couldn’t have been more different than the year prior. Gone were the conversations about hydrogen, … Read more
Summary U.S. President Trump softens tone on China and Powell Brent crude benchmark hits highest in almost three weeks Official U.S. crude stocks data at 1430 GMT (Reuters) – Oil prices rose on Wednesday after a fresh round of U.S. sanctions on Iran, a drop in U.S. crude stocks and a softer tone from U.S. … Read more
ConocoPhillips, a top U.S. oil and gas producer, plans to cut staff, the company said on Tuesday, amid a broad push to rein in costs and streamline operations after its $23 billion buyout of rival Marathon Oil. The job cuts are the latest sign of pain in the oil and gas industry, which is facing … Read more
(Reuters) – North Dakota oil prices are near breakeven levels, the state’s oil and gas regulator said on Tuesday, as a global trade war has stoked concerns of a recession and roiled energy markets. North Dakota is the third largest oil-producing state in the U.S., but its maturing oilfields require a higher oil price to … Read more
By Shadia Nasralla April 22 (Reuters) – Activist investor Elliott Management has urged BP (BP.L) to boost its free cash flow to $20 billion by 2027 from around $8 billion last year through significant spending cuts and cost reductions, a source familiar with the situation said on Tuesday. Elliott has increased its stake in BP … Read more
(Reuters) – EQT said on Tuesday it plans to acquire the upstream and midstream assets of Olympus Energy in a deal valued at $1.8 billion. The company also beat first-quarter profit estimates on Tuesday, benefiting from higher natural gas prices. The company reported an adjusted profit of $1.18 per share, for the quarter ended March … Read more
** Shares of oil and gas producer Devon Energy rise 3.7% to $30.57 premarket ** Company says it plans to boost its annual free cash flow by $1 billion by the end of 2026 ** “The $1 billion savings is significantly above our expectations and the $300-$500 million range we think investors anticipated” – RBC … Read more
(The opinions expressed here are those of the author, a columnist for Reuters.) *Europe relies heavily on natural gas imports *Surge in LNG production to keep global prices low in coming years *Government reserves would act as critical buffer in case of supply disruption By Ron Bousso April 22 – European governments may have a … Read more
HIGHLIGHTS Targeting $1 billion in annual pre-tax free cash flow improvements Business optimization plan underway to improve margins and capital efficiency Plan includes improvements to base production performance, midstream commercial terms and corporate costs Expected to be completed by the end of 2026, with 30 percent achieved by year-end 2025 OKLAHOMA CITY, April 22, 2025 … Read more
Saudi Arabia’s crude exports in February rose to 6.547 million barrels per day (bpd) from 6.073 million bpd in January, official data showed on Tuesday. The world’s largest oil exporter’s crude output for February was at 8.947 million bpd, up from 8.917 mln bpd in January. Saudi refineries’ crude throughput was at 2.621 million … Read more
(Reuters) – Increasing purchases of U.S. natural gas and oil is a focus of Taiwan’s tariff talks with the United States, President Lai Ching-te said on Tuesday. Lai has pledged to seek a zero tariff regime with the United States and buy more from and invest more in the country, as he seeks to head … Read more
By Elizabeth Elkin Richard KinderPhotographer: Aaron M. Sprecher/Bloomberg Kinder Morgan Inc. billionaire co-founder Rich Kinder has shrugged off concerns in the US natural gas industry over the impact of tariffs on exports, and that demand forecasts related to artificial intelligence may be too optimistic. Kinder said his company still sees a surge demand from AI … Read more
By Nichola Groom and Valerie Volcovici Summary • Administration moves to rapidly slash regulations through new executive orders • EPA opens door to exemptions for air, water rules while formally undertakes deregulation process • Environmental groups ready to launch legal defense of clean air, water rules (Reuters) – U.S. environmental groups say they are hiring … Read more
By Jorge Valero and Ewa Krukowska The European Union’s imminent release of a road map for phasing out Russian fossil fuel purchases will signal to companies that they should source more liquefied natural gas from the US, according to European Council President Antonio Costa. The 27-nations bloc is scheduled to unveil its plan for winding … Read more
Tariffs target major firms like Jinko Solar and Trina Solar Tariffs range from 6.1% to 3,403.96% International Trade Commission to vote on industry harm in June April 21 (Reuters) – U.S. trade officials finalized tariff levels on solar cells and panels from Southeast Asia, a key step toward wrapping up a year-old trade case brought … Read more
Summary • Economic concerns remain owing to US tariffs and monetary policy • US-Iran nuclear talks could boost oil supply • US oil stockpiles expected to have fallen last week, poll shows (Reuters) – Oil prices rose on Tuesday as investors took advantage of the previous day’s losses to cover short positions, though concerns persist … Read more
(Reuters) – U.S. natural gas futures dropped about 7% to a five-month low on Monday on record output and forecasts for milder weather and lower demand over the next two weeks than previously expected. Gas futures for May delivery on the New York Mercantile Exchange fell 22.9 cents, or 7.1%, to settle at $3.016 per … Read more
(Reuters) – Asian governments are looking to buy more U.S. oil and gas as they scramble to lower their trade surplus with Washington in hopes of easing their tariff burdens under President Donald Trump’s sweeping new import duties. Many Asian countries run large trade surpluses with the United States and are also major energy importers. … Read more
By Stephanie Kelly Concerns about US tariff effects pressure oil prices US, Iran begin drawing up framework for nuclear deal Markets eye April PMI data this week NEW YORK, April 21 (Reuters) – Oil prices fell more than 2% on Monday on signs of progress in talks between the U.S. and Iran, while investors remained … Read more
April 21 (Reuters) – Oil and gas group Shell (SHEL.L) plans to complete a marine survey at Venezuela’s offshore Dragon gas field before a U.S.-set May deadline to wind down all licenses related to energy projects in the country, sources close to the preparations said. Colombia-flagged survey vessel Dona Jose II arrived in U.S.-sanctioned Venezuela … Read more
U.S. stock indexes fell and the dollar index slid to a three-year low on Monday as U.S. President Donald Trump’s continued attacks on the Federal Reserve chair and the bank’s monetary policy rattled investors.Safe-haven gold prices hit another record high, while the Swiss franc also rose. Benchmark U.S. Treasury yields edged higher. Trump on Monday … Read more
HOUSTON–(BUSINESS WIRE)–Chevron Corporation (NYSE: CVX) announced today that it started oil and natural gas production from the Ballymore subsea tieback in the deepwater Gulf of America. Ballymore, the latest in a series of Chevron projects to start up in the past year, represents another step towards the company’s goal to produce 300,000 net barrels per day … Read more
Republican lawmakers working to extend U.S. President Donald Trump’s tax cuts legislation are facing a clean-energy conundrum back home, as major clean energy investments in their districts are at odds with Trump’s skepticism of the industry. Eleven of the 26 Republicans on the House of Representatives’ tax-writing Ways & Means committee, who are now crafting … Read more
The U.S. Interior Department on Friday said it would begin taking public input for a new five-year offshore oil and gas leasing program that could include new zones in the Arctic and elsewhere to maximize energy development. President Donald Trump has ordered government agencies to identify ways to increase already record high U.S. oil and … Read more
Summary • Concessions awarded in 2019, part of effort to become energy hub • Chevron says it remains committed to working with Egypt • Ministry spokesperson gives assurances over summer gas supply CAIRO, April 18 (Reuters) – A number of multinational oil and gas companies including Chevron have exited their Red Sea oil and gas … Read more
*U.S. shale drillers slowing activity *IEA lowers US oil production forecasts for 2025 *Companies will likely delay new large project approvals By Ron Bousso Nimble U.S. oil producers are responding quickly to the economic turmoil sparked by President Donald Trump’s trade war by slowing down drilling activity, while larger companies are rethinking big-ticket projects. This … Read more
Summary • Concerns about US tariff effects pressure oil prices • US, Iran begin drawing up framework for nuclear deal • Markets eye April PMI data this week (Reuters) – Oil prices fell more than 2% on Monday on signs of progress in talks between the U.S. and Iran while investors remained concerned about economic … Read more
The European Union is looking at ways to make it easier for U.S. gas exports to comply with its methane emissions rules, as the bloc attempts to avert a trade war with U.S. President Donald Trump, three sources familiar with the matter told Reuters. The European Commission is working on its offer for trade negotiations … Read more
By Nicole Jao Trump expressed optimism about reaching a trade deal with Europe US issues new sanctions on Chinese importers of Iranian oil Iraq, Kazakhstan, others to cut output further in OPEC plan NEW YORK, April 17 (Reuters) – Oil prices settled more than 3% higher on Thursday, supported by hopes for a trade deal … Read more
Results next week will likely provide a peek into how the world’s top three oilfield services companies are navigating the uncertainty fueled by the on-again, off-again U.S. tariffs, as well as a recent slide in oil prices. President Donald Trump promised to increase U.S. oil and gas production, campaigning on the motto of “drill baby … Read more
By Sophie Austin SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom sued the Trump administration on Wednesday, challenging the president’s authority to impose sweeping tariffs that have set off a global trade war. The lawsuit argues that President Donald Trump’s use of the International Emergency Economic Powers Act to impose tariffs on Mexico, Canada and … Read more
~ Announces Timing of First Quarter Earnings Conference Call ~ THE WOODLANDS, Texas, April 18, 2025 (GLOBE NEWSWIRE) — Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today provided an operational update, including first quarter 2025 oil sales volumes above the high end of the Company’s guidance range and total sales volumes … Read more
HOUSTON–(BUSINESS WIRE)–Woodside has signed LNG sale and purchase agreements with Uniper for the supply of 1.0 million tonnes per annum (Mtpa) from Louisiana LNG LLC and up to 1.0 Mtpa from its global portfolio (Woodside Energy Trading Singapore Pty. Ltd.), demonstrating ongoing strong demand for LNG globally. Woodside CEO Meg O’Neill said these agreements represent … Read more
By Scott Disavino April 17 (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 (BKR.O), opens new tab said in its closely followed report on Thursday. The oil and gas rig count, an early indicator of future output, rose … Read more
By Nichola Groom (Reuters) – The Trump administration’s decision to halt construction of Equinor’s (EQNR.OL) Empire Wind 1 farm off the coast of New York late on Wednesday sent shockwaves through the offshore wind industry, raising concerns that fully-permitted developments representing billions in investment are not safe. U.S. President Donald Trump had campaigned on a … Read more
By Marianna Parraga Judge Stark inclined to accept court officer’s recommendation Starting with low bid would make it difficult to approach $7 bln-$8 bln value for Citgo Contrarian’s pact with bondholders could complicate topping period HOUSTON, April 17 (Reuters) – A U.S. court is expected to confirm or reject in coming days a $3.7 billion … Read more
By Ross Kerber April 17 (Reuters) – U.S. energy regulators gave BlackRock (BLK.N) renewed permission to own major stakes in public utility companies on Thursday, a win for the world’s top asset manager over politically-charged concerns that it wields too much influence. The decision by the U.S. Federal Energy Regulatory Commission included a concurring opinion … Read more
(Reuters) – Norway’s Equinor will halt offshore construction of its Empire Wind I project in New York state, following a stop-work order from U.S. Interior Secretary Doug Burgum, the company said on Thursday. The sudden order marks a major blow for the company and the nascent U.S. offshore wind industry, which previously enjoyed substantial support … 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 515,000 barrels to 442.9 million barrels in the week ended April 11, the EIA said, compared with analysts’ expectations in a Reuters poll for a 507,000-barrel rise. Crude stocks at … Read more
(Reuters) – Valero said it has recorded a $1.1 billion pre-tax impairment related to its California refineries and notified state regulators of its intent to idle, restructure, or cease operations at its Benicia refinery by the end of April 2026. The move comes as refiners face growing regulatory and cost pressures in California, where the … Read more
By Vallari Srivastava Kinder Morgan narrowly misses first-quarter profit estimates Expects tariffs impact to be roughly 1% of the total project costs Remains bullish on natural gas demand April 16 (Reuters) – U.S. pipeline and terminal operator Kinder Morgan (KMI.N) left its annual profit forecast unchanged on Wednesday, as it continued to bank on demand … Read more
Chinese refiners are importing record amounts of Canadian crude after slashing purchases of U.S. oil Chinese refiners are importing record amounts of Canadian crude after slashing purchases of United States oil by roughly 90 per cent amid escalating trade tensions. A pipeline expansion in Western Canada that opened less than a year ago has presented … Read more
(Reuters) – BP Plc will begin loading its first shipment of liquefied natural gas from Venture Global’s Calcasieu Pass plant in Louisiana on Wednesday, according to LSEG data. The BP-chartered vessel British Mentor was about to dock at the Calcasieu Pass port. It is the first cargo BP is receiving from the export facility under … Read more
(Reuters) – The U.S. Army Corps of Engineers on Wednesday granted Enbridge’s proposed tunnel for its Line 5 pipeline national energy emergency status, fast-tracking a key federal permitting process. President Donald Trump had ordered the Army Corps to issue permits enabling the filling of wetlands and dredging or building in waterways as part of the … Read more
Summary • US issues new sanctions on Chinese importers of Iranian oil • Iraq, Kazakhstan, others to cut output further in OPEC plan • US data shows higher crude stocks and a stock draw in refined products (Reuters) – Oil prices rose to the highest in two weeks on Thursday after the United States imposed … Read more
MIDLAND, Texas, April 16, 2025 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) provided an operational update for the first quarter of 2025. The Company is releasing this information to provide flexibility to opportunistically continue its stock repurchase program given the current market volatility. FIRST QUARTER 2025 HIGHLIGHTS Average production of 475.9 … Read more
(Reuters) – The U.S. government’s energy statistics arm is set to lose dozens of employees after the Trump administration’s latest round of resignation offers, putting at risk some of the most closely watched energy reports globally, five sources told Reuters. The U.S. Energy Information Administration publishes weekly, monthly and annual data that includes figures on … Read more
(Reuters) – The Mexican government has halted U.S. fuel imports sent into the country by road, as it cracks down on illegal deals, three sources familiar with the matter said on Tuesday. Trucks carrying gasoline and diesel to Mexico from the U.S. Gulf Coast refining hub are not being permitted to cross the Texas border … Read more
CALGARY, Alberta, April 16, 2025 (GLOBE NEWSWIRE) — South Bow Corp. (TSX & NYSE: SOBO) (South Bow or the Company) has safely restarted the Keystone Pipeline (Keystone) after receiving regulatory approval from the Pipeline and Hazardous Materials Safety Administration (PHMSA), following South Bow’s response to an oil release at Milepost 171 (MP-171) of Keystone on April … Read more
Venture Global LNG has begun commercial operations at its Calcasieu Pass plant in Louisiana, more than three years after it first produced liquefied natural gas, the company said on Tuesday. The move to commercial operations means the Arlington-headquartered company has brought an end to the extended commission of the plant which resulted in its customers … Read more
(Reuters) – A federal appeals court on Tuesday rejected a challenge by environmental groups to a decision by Democratic former President Joe Biden’s administration approving exports from a planned $39 billion liquefied natural gas project in Alaska. A three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit held the U.S. … Read more
By Scott Disavino Output to peak at 119.0 bcfd in 2032 vs 103.6 bcfd record high in 2023 Demand to peak at 92.4 bcfd in 2032 vs 90.5 bcfd record in 2024 LNG exports to peak at 26.8 bcfd in 2040 vs 11.9 bcfd record in 2024 April 15 (Reuters) – U.S. natural gas output … Read more
South Korea’s vice industry minister Choe Nam-ho is planning to travel soon to Alaska as part of working-level negotiations between the United States and South Korea over Alaska’s liquefied natural gas (LNG) project, Yonhap news agency reported on Tuesday. Still, no decision has been made on whether South Korea will join the project and whether … Read more
Canadian power producer Capital Power Corp said on Monday it would buy two natural-gas fired power plant operators located in the PJM market for about $2.2 billion. The deal comes at a time when electricity prices are rapidly increasing in PJM, the United States’ biggest power market, and as demand for electricity continues to increase … Read more
GEORGETOWN, April 15 (Reuters) – A consortium led by U.S. Exxon Mobil (XOM.N) is about to begin the installation of its fourth floating oil production facility in Guyana, the South American country’s maritime regulator said in a notice on Tuesday. The floating production storage and offloading (FPSO) facility ‘One Guyana,’ built by SBM Offshore (SBMO.AS) … Read more
Summary • Global trade tensions and uncertainty dominate sentiment • Chinese quarterly GDP growth beats expectations (Reuters) – Oil prices rose 1% on Wednesday, reversing early losses as the market took a bullish view on China’s stance on potential trade talks with the United States, though gains were capped by continuing fears that the trade … Read more
By Shariq Khan Forecast shows US shale oil boom fading after 20 years US oil output to peak at 14 million bpd in 2027, EIA says Production to fall rapidly from 2030 through 2050 US oil demand to cap post-pandemic gains next year US oil demand will not surpass 2019 levels or 2005 record NEW … Read more
Summary • IEA cuts 2025 demand growth forecast by about 300,000 bpd • Sees further slowdown in demand growth next year • Joins OPEC in cutting oil demand view • Trims U.S. oil output forecast for 2025 (Reuters) – Global oil demand will grow much more slowly than expected this year and U.S. production increases … Read more
US Energy Secretary Chris Wright believes the oil market selloff is overblown and expects American crude producers to keep increasing production. Wright thinks the long-term growth trajectory for oil demand remains unchanged and expects US oil production to grow, despite recent benchmark domestic crude futures falling 16%. Wright predicts the US will expand output by … Read more
China is set to increase its imports of Russian liquefied natural gas (LNG) this year, its ambassador to Russia said on Tuesday.“I know for sure that there are a lot of buyers. So many buyers are asking the embassy to help establish contacts with Russian suppliers, I think there will definitely be more (imports),” the … Read more
HSBC revised down its Brent crude price forecast on Tuesday, citing rising trade tensions and an expected reduction in global oil demand.The bank cut its Brent price forecast to $68.5 per barrel for 2025 and $65 per barrel for 2026. It also trimmed its global demand growth to 0.7 million barrel per day (mbd) for … Read more
(Reuters) – Indonesia will propose increasing its imports of crude oil and liquefied petroleum gas from the United States by around $10 billion as part of its tariff negotiations, energy minister Bahlil Lahadalia told local media on Tuesday. Indonesian officials are set to leave for Washington later on Tuesday for negotiations over proposed U.S. trade … Read more
Summary • Oil price drop seen hitting exporters disproportionately • Angola faced a margin call after bond market rout • Nigeria’s carry trade stops being attractive on oil fall • Gulf exporters likely to weather pressure better thanks to reserves, lower debt (Reuters) – A steep drop in crude oil prices largely due to U.S. … Read more
• Summary • Pakistan mulling U.S. crude purchases to address tariffs • Pakistan faces 29% tariffs under Trump policies • Crude purchase would reduce trade imbalance with U.S. (Reuters) – Pakistan is considering importing crude oil from the United States for the first time to offset a trade imbalance that triggered higher U.S. tariffs, according … Read more
Summary • Trump administration provides busy tariff news flow • IEA slashes oil demand forecast for this year and next • China imports more Iranian crude oil (Reuters) – Oil prices inched down on Tuesday after the International Energy Agency followed OPEC in slashing its oil demand forecast, though price falls were limited by U.S. … Read more
April 14 (Reuters) – The CEO of the largest U.S. power grid, PJM Interconnection, will leave his post at the end of the year, the organization said on Monday. Manu Asthana, who has led the PJM for more than five years, steps down at a time of rising electricity prices in the country’s biggest power … Read more
April 14 (Reuters) – JP Morgan on Monday lowered its oil price forecasts for 2025 and next year, citing higher production from OPEC+ and weaker demand. The bank cut its 2025 Brent price forecast to $66 per barrel from $73 and its 2026 target to $58 from $61. It lowered the 2025 WTI price outlook … Read more
(Reuters) – Pipeline operator South Bow said Monday it is keeping an eye on inclement weather before proceeding with a planned controlled restart of its Keystone oil pipeline system. The Calgary, Canada-based company had previously indicated it was targeting Tuesday for full service restoration on the Keystone pipeline, which has been shut down since last … Read more
(Reuters) – U.S. natural gas futures fell about 6% to a nine-week low on Monday on record output over the weekend and forecasts for less demand next week than previously expected. Gas futures for May delivery on the New York Mercantile Exchange fell 20.2 cents, or 5.7%, to settle at $3.325 per million British thermal … Read more
(Reuters) – A vessel chartered by Chevron carrying some 500,000 barrels of Venezuelan oil is about to complete the discharge of the cargo at a Venezuelan port, according to shipping data and a source, following state company PDVSA’s order to return the crude amid payment uncertainty related to U.S. sanctions. At least nine tankers Chevron … Read more
(Reuters) – President Donald Trump said on Monday he believes Iran is intentionally delaying a nuclear deal with the United States and that it must abandon any drive for a nuclear weapon or face a possible military strike on Tehran’s atomic facilities. “I think they’re tapping us along,” Trump told reporters after U.S. special envoy … Read more
By Matthew Martin Energy prices are set to be lower under the current US administration than in the prior one, according to US Energy Secretary Chris Wright. “Under President Trump’s leadership in the next four years we’ll almost certainly see lower average energy prices than we saw in the last four years of the previous … Read more
By America Hernandez, Riham Alkousaa and Marwa Rashad French, German firms open to modest return of Gazprom’s gas Trump has made US LNG a politically loaded commodity EU aims to quit Russian gas by 2027, has no detailed plan on how Arbitrations against Gazprom complicate supply resumption PARIS/BERLIN, April 14 (Reuters) – More than three … Read more
NICOSIA, April 14 (Reuters) – An exploration drill by ExxonMobil (XOM.N) offshore Cyprus has failed to find commercial quantities of natural gas, the island’s energy ministry said on Monday. Drilling operations had been completed at the Elektra-1 well in Block 5 of the exclusive economic zone (EEZ) of Cyprus, it said. “Well data and preliminary … Read more
(Reuters) – The European Commission will announce a more detailed strategy to phase out Russian oil and gas imports next month, it said on Monday, after twice delaying the plan. The EU has pledged to quit Russian fossil fuels by 2027 in response to Moscow’s 2022 invasion of Ukraine, but the Commission has delayed publishing … Read more
By Liz Hampton (Reuters) – Hello Power Up readers! Oil futures are back up to start the week on some U.S. tariff exclusions, and after Chinese data showed a sharp rebound in crude imports during March. U.S. President Donald Trump on Friday granted exclusion from levies on smartphones, computers and some other electronics from China. … Read more
(Reuters) – Energy Transfer, the pipeline company developing a liquefied natural gas (LNG) export facility in Louisiana, is asking federal regulators to extend the deadline by three years for construction of its plant. Energy Transfer’s Lake Charles project is expected to benefit from President Donald Trump’s attempt to unleash American energy by supporting oil, gas … Read more
South Bow plans to restart the Keystone pipeline by Tuesday, April 15, the company said on Saturday, after it shut the key conduit for the flow of Canadian oil to the U.S. due to an oil spill in North Dakota. South Bow still needs written approval from the U.S. Pipeline and Hazardous Materials Safety Administration … Read more
U.S. liquefied natural gas (LNG) producer NextDecade said on Monday it has signed a 20-year deal to supply France’s TotalEnergies with 1.5 million tonnes per annum (MTPA) from its Rio Grande facility’s planned fourth liquefaction facility, or train. NextDecade has so far contracted a total of 4.6 MTPA of LNG from Train 4 on a … Read more
TC Energy said late last week it had completed repairs to a section of the ANR Pipeline system shut down near Fennville, Michigan, because of a leak, causing a natural gas outage in the region. “Natural gas service has now been restored to Michigan Gas Utilities, the local distribution company,” the company said in a statement … Read more
Sufficient commercial agreements in place to support a positive Final Investment Decision on Train 4 HOUSTON–(BUSINESS WIRE)–NextDecade Corporation (NextDecade or the Company) (NASDAQ: NEXT) announced today that TotalEnergies (Total) (NYSE: TTE) has exercised its LNG purchase option with respect to Train 4 at the Rio Grande LNG Facility, and subsidiaries of both companies have executed a long-term … Read more
Goldman Sachs expects oil prices to decline through the end of this year and next year because of the rising risk of a recession and higher supply from the OPEC+ group. The bank expects Brent and WTI oil prices to edge down, averaging $63 and $59 a barrel, respectively, for the remainder of 2025, and … Read more
Summary • Cuts 2025, 2026 demand growth forecasts by 150,000 bpd each • First cut in 2025 forecast since December, OPEC data shows Kazakhstan further boosts production in March (Reuters) – OPEC cut its 2025 global oil demand growth forecast on Monday for the first time since December, citing the impact of data received for … Read more
The United States and Saudi Arabia will sign a preliminary agreement to cooperate over the kingdom’s ambitions to develop a civil nuclear industry, U.S. Energy Secretary Chris Wright told reporters in the Saudi capital Riyadh on Sunday. Wright, who had met with Saudi Energy Minister Prince Abdulaziz bin Salman earlier on Sunday, said Riyadh and … Read more
Summary Oil at $55 a barrel, down from $78 before Trump inauguration US oil rig count expected to drop if crude stays below $60 Tariffs will hike costs for steel and oil-drilling gear Reuters) – President Donald Trump moved on his first day in office to increase U.S. oil and gas production, but the country’s … Read more
A look at the day ahead in European and global markets from Wayne Cole So the “reciprocal” tariffs are off smartphones and some electronics, but maybe only for a while as they could get their own special tariff once the White House has completed a study of the global supply chain. Or something.Indeed, Trump on … Read more
Summary • China’s crude oil imports rebounded in March, data shows • OPEC dowgrades its 2025 global oil demand growth forecast • Goldman Sachs sees Brent averaging $63 for rest of 2025 LONDON, April 14 (Reuters) – Oil prices rose more than 1% on Monday after U.S. exclusions on some tariffs and Chinese data showing … Read more
April 14 – BP has made an oil discovery at the Far South field in the U.S. Gulf of Mexico, it said on Monday, as the energy major seeks to grow production under a strategy reset announced earlier this year. The exploration well was drilled in Green Canyon Block 584 about 120 miles (193.12 km) … Read more
By Scott Disavino April 11 (Reuters) – U.S. energy firms this week cut oil rigs by the most in a week since June 2023, lowering the total oil and natural gas rig count for a third consecutive week, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday. The oil and … Read more
Summary • PDVSA cancels authorizations for Chevron-chartered ships • Chevron awaits paperwork for cargo return to Venezuelan ports (Reuters) – At least two vessels carrying Venezuelan crude chartered by Chevron are stalled due to state oil company PDVSA canceling their export authorizations, according to shipping data and sources, as the government had no certainty of … Read more
(Reuters) – As the dust settles after a bruising week eased by U.S. President Donald Trump’s tariff pause, the takeaway from global investors is loud and clear: market turbulence is here to stay. In a stunning reversal on Wednesday, Trump said he would temporarily lower the hefty duties newly imposed on dozens of countries while … Read more
(Reuters) – U.S. natural gas output and demand will both rise to record highs in 2025, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO) on Thursday. EIA projected dry gas production will rise from 103.2 billion cubic feet per day (bcfd) in 2024 to 105.3 bcfd in 2025 and 107.1 … Read more
By Erwin Seba China imposes 125% tariff on US goods, escalating trade war EIA lowers global economic growth and oil demand forecasts April 11 (Reuters) – Brent and West Texas Intermediate crude climbed more than $1 on Friday after U.S. Energy Secretary Chris Wright said the United States could end Iran’s oil exports as part … Read more
The pain, said Shuntaro Takeuchi, was 10 out of 10. Not in the portfolio of Japanese stocks he runs out of Palo Alto, California, but in his appendix. It would have to come out, just as his colleagues at Matthews Asia were on a phone call to chart the $7 billion asset manager’s path through … Read more
More than 2,600 U.S. Department of Energy staffers have opted to take the Trump administration’s second round of resignation offers, two sources said on Thursday, with offices on power grid stability and loans for high-tech energy projects hit hard. The number is more … Read more
(Reuters) – The U.S. Federal Trade Commission took a step toward potentially reversing bans on certain oil executives joining the boards of Chevron and Exxon Mobil that the Biden administration made a condition that allowed them to acquire two other oil producers. Exxon, which acquired Pioneer Natural Resources last year, had agreed to bar former … Read more
BC is set to launch LNG exports within weeks, marking a major push to diversify Canada’s energy markets amid growing US trade uncertainty By Margareta Dovgal LNG Canada’s $40-billion plant is but weeks away from shipping its first export cargo. The destination has not been named, but the plant near Kitimat is in final testing … Read more
By Andy Home LONDON, April 10 (Reuters) – As U.S. President Donald Trump turns up the tariff heat on China, Beijing is targeting ever more of the United States’ critical material supply chains. Weird and wonderful metals such as antimony, gallium and germanium have already been sucked into the escalating trade war with China restricting … Read more
(Reuters) – President Donald Trump wants Iran to know that there will be “all hell to pay” if it does not abandon its nuclear program, his press secretary told reporters on Friday ahead of talks on Saturday between U.S. and Iranian delegations. White House press secretary Karoline Leavitt said Trump’s “ultimate objective is to ensure … Read more
For nearly a century, the ENTELEC Association has been the trusted resource for the energy sector, uniting OT and IT professionals to drive efficiency, innovation, and seamless operations. As a member-driven organization, ENTELEC is dedicated to delivering technical education, industry training, and cutting-edge solutions that empower professionals at every level. Solving Today’s Challenges with Tomorrow’s … Read more
By Yousef Saba US aims to halt Iran’s oil exports amid nuclear tensions Iranian oil exports remain stable despite US pressure Wright predicts oil supply, demand growth under Trump’s policies ABU DHABI, April 11 (Reuters) – U.S. Energy Secretary Chris Wright said on Friday that the United States could stop Iran’s oil exports as part … Read more
(Reuters) – At least two vessels carrying Venezuelan crude chartered by Chevron are now stalled in Venezuelan waters due to state oil company PDVSA canceling their export authorizations after the U.S. imposed secondary tariffs on the OPEC member’s buyers, two sources with knowledge of the matter said on Friday. The U.S. oil producer awaits customs … Read more
(Reuters) – Abu Dhabi state oil company ADNOC is considering a bid for natural gas assets of investment firm Aethon Energy Management that could potentially be worth about $9 billion, Bloomberg News reported on Friday, citing people familiar with the matter. ADNOC has done a string of acquisitions in gas and chemicals, which along with … Read more
(Reuters) – GAIL India Ltd issued a tender on Friday to buy an up to 26% stake in a liquefied natural gas project in the United States combined with a 15-year gas import deal, aiding New Delhi’s efforts to narrow its trade surplus with Washington. India is racing to become one of the first to … Read more
Summary • Brazil plans extra auction for offshore oil areas • Kuwait to tap international debt market for first time since 2017 • Russia’s economy expected to contract further from oil price decline • Saudi Arabia stands ready for policies to keep fiscal position strong: spokesperson April 11 (Reuters) – Oil-dependent governments are coming under … Read more
(Reuters) – The Trump administration said on Thursday that it will no longer require environmental impact statements for oil and gas leases across the U.S. West, in a step toward lifting green hurdles to drilling that environmental groups will likely challenge in court. The Interior Department said in a release that it will no longer … Read more
(Reuters) – Recent developments in global trade policy are set to lower global oil and fuel demand growth through 2026, the U.S. Energy Information Administration (EIA) said on Thursday in its monthly short-term energy outlook report. The U.S. Department of Energy’s statistical arm cut its annual U.S. and global oil demand growth forecasts for both … Read more
(Reuters) – Venture Global Inc is about to start selling liquefied natural gas cargoes from a Louisiana export terminal to long-term customers rather than to the highest global bidder, but it plans to employ the controversial but lucrative practice at a new and bigger terminal that it is starting up. On April 15, Venture Global … Read more
(Reuters) – Oil prices fell on Friday and were set to drop for a second week on concerns prolonged trade war between the United States and China, the world’s largest economies, will crush crude consumption as their dispute curtails economic growth. Brent futures fell 31 cents, 0.5%, to $63.02 a barrel by 0153 GMT, while … Read more
Venezuela’s national assembly on Thursday passed a decree proposed by President Nicolas Maduro’s government to declare a state of economic emergency in response to U.S. sanctions and tariffs. In March, the administration of U.S. President Donald Trump began suspending authorizations for oil companies operating with Venezuela’s state-owned PDVSA and imposed secondary tariffs on crude oil … Read more
(Reuters) – U.S. power consumption will hit new record highs in 2025 and 2026, the U.S. Energy Information Administration said in its Short Term Energy Outlook (STEO) on Thursday. EIA projected power demand will rise to 4,201 billion kilowatt hours (kWh) in 2025 and 4,244 billion kWh in 2026, from a record 4,097 billion kWh … Read more
(Reuters) – South Bow on Thursday said it had recovered about 700 barrels of oil from a leak on the Keystone Pipeline earlier this week in North Dakota, which has shut the key conduit for Canadian oil exports to the U.S. since Tuesday. South Bow, owner and operator of the 4,327-km (2,689-mile) pipeline, is still … Read more
(Reuters) – Kazakhstan has been in talks with oil producers about reducing output, which has been above the country’s OPEC+ quota, Interfax news agency reported on Thursday citing the energy ministry. Kazakhstan has been pumping oil above the limit agreed by the Organization of the Petroleum Exporting Countries and its allies led by Russia for … Read more
By Ron Bousso US ratcheting up pressure on Tehran over nuclear programme China bought 77% of Iran’s oil in 2024, valued at $29 billion China could use Iran trade in negotiation with US (Reuters) – The deepening trade war between the United States and China could significantly undermine President Donald Trump’s “maximum pressure” campaign against … Read more
Taiwan is planning a surge in US purchases over the next decade that would triple the share of American liquefied natural gas in the island’s mix. State-operated entities could buy goods worth $200 billion from the US over the next 10 years, Minister of Economic Affairs Kuo Jyh-Huei said Thursday, according to a report from Taipei-based … Read more
Texas installed 4 gigawatts of battery capacity last year, surpassing California’s pace for the first time. Big batteries in Texas are addressing issues on the electric grid, storing excess wind and solar power and meeting surging demand from new residents and electric vehicles. The growth of battery storage in Texas is threatened by tariffs on … Read more
Summary • Electricity customers hope to cut wait times to connect to grid • The first time AI will be used to manage grid connections • US power demand jumps as Big Tech rolls out data centers for AI (Reuters) – Alphabet Inc’s Google unit is partnering with the largest electrical grid operator in North … Read more
Amid the market carnage and turmoil created by U.S. President Donald Trump’s chaotic global tariff roll out and retreat, there are likely some clear trends that will emerge. One of these is that countries seeking to cut a deal with Trump will try to purchase more U.S. goods in order to lower their trade surpluses … Read more
Climate activist shareholder group Follow This said on Thursday a lack of investor appetite has forced it to suspend its nearly decade-long campaign seeking stronger commitments from major oil and gas producers to emission cuts. The Dutch group started filing climate resolutions at shareholder meetings in 2016, reaching shareholder support in subsequent years of 80% … Read more
US shale oil producers are feeling aggrieved due to President Trump’s trade war, which has led to a market rout and plummeting oil prices. The industry, which heavily supported Trump’s election campaign, is in shock over the rapid decline in oil prices, with many executives expressing frustration and alarm. If oil prices continue to fall, … Read more
MANSFIELD, S.D. (AP) — Jared Bossly was planting soybeans one spring night in 2023 on his 2,000-acre farm in South Dakota when he spotted a sheriff’s vehicle parked at the corner of his property. He had a hunch it wasn’t a social visit. “I’m like, ‘Well, I doubt he’s just being a friendly neighbor, giving … Read more
April 9 (Reuters) – U.S. shale firm Occidental Petroleum (OXY.N) said on Wednesday the prices it received for oil and gas production during the first quarter were higher than in the preceding three months. Benchmark Brent crude prices averaged $74.98 a barrel during the first quarter, up 1.3% from the prior quarter, while U.S. natural … Read more
Summary • Oil drops, reversing some gains from volatile prior session • Trump announces 90-day freeze for dozens of countries • But duties raised to 125% on Chinese imports • Analysts warn of risks to oil demand on trade war escalation (Reuters) – Oil prices retreated 2% on Thursday as fears of a deepening U.S.-China … Read more
Mubadala Energy, an arm of one of Abu Dhabi’s sovereign wealth funds, signed a deal on Thursday with energy investor Kimmeridge that will give it stakes in gas assets in the United States, marking its entry into the market as part of its growth plans. The deal to buy 24.1% of Kimmeridge’s SoTex HoldCo will … Read more
U.S. pipeline operator Energy Transfer said on Wednesday it entered into a nonbinding agreement with MidOcean Energy to jointly develop the Lake Charles LNG export facility in Louisiana. MidOcean will pay for 30% of the construction costs of the facility and receive 30% of the LNG production, or roughly 5.0 million metric tonnes per annum … Read more
*Chevron’s triple-frac cuts well completion time by 25% *Technique reduces costs per well by 12% *Triple-frac requires 60% more water and sand per day By Sheila Dang2 HOUSTON, April 9 – U.S. oil major Chevron plans to increase the use of a technique that allows it to fracture subterranean rock in three wells at a … Read more
U.S. natural gas futures jumped about 10% on Wednesday, rising along with Wall Street and other energy prices after U.S. President Donald Trump said he would temporarily lower new tariffs on many countries, even as he raised them further on imports from China. Gas prices also gained support from a decline in output in recent … Read more
By Skylar Woodhouse and Josh Wingrove President Donald Trump announced a 90-day pause on higher tariffs that hit dozens of trade partners after midnight, while raising duties on China to 125%. The president’s about-face came roughly 13 hours after high duties on 56 nations and the European Union took effect, fueling market turmoil and stoking … Read more
By Nicole Jao Trump authorizes 90-day pause on tariffs for most countries, raises China tariff rate to 125% China imposes additional tariffs on US goods US crude oil stockpiles rose last week, EIA says NEW YORK, April 9 (Reuters) – Oil prices climbed more than 4% on Wednesday, bouncing back from four-year lows earlier in … Read more
By Ron Bousso Saudi Arabia losing patience with OPEC+ non-compliance Trump tariffs offer Riyadh opportunity Saudi would prefer to avoid protracted market share war LONDON, April 9 – President Donald Trump’s global trade war has created tumult in the oil market that Saudi Arabia did not seek, but can turn to its advantage even if … Read more
MANSFIELD, S.D. (AP) — The company behind a proposed pipeline that would transport carbon dioxide emissions from ethanol plants across five Midwest states and store it underground in North Dakota filed hundreds of lawsuits against landowners in recent years, an analysis by Lee Enterprises and The Associated Press found. This litigation was concentrated in South … Read more
(Reuters) – A plunge in oil prices below $60 per barrel due to an escalating trade war may trigger anxiety across the U.S. oil patch, likely forcing companies to double down on measures including cuts to share buybacks and capital expenditures, analysts have said. Brent crude and West Texas Intermediate (WTI) futures slid to their … Read more
*Light US crude requires a different configuration at refineries *Changing refinery setup can be a lengthy and expensive process *Running different crude types impacts refinery yields, margin By Arathy Somasekhar U.S. refiners are not planning to make big-ticket investments to process more domestic crude and less oil from top suppliers Canada and Mexico, industry sources … Read more
Oh…Happy Liberation Week! I think I finally understand what Liberation Day stood for. The liberation of all of my savings from me. Hooray! I didn’t want it anyway… Now, on to our regularly scheduled programming. Yesterday the API reported that crude oil and refined products both saw a net draw on stock levels, showing a … Read more
(Reuters) – U.S. crude oil stockpiles rose last week as imports increased and exports fell to their lowest since January, while gasoline and distillate inventories drew down, the Energy Information Administration said on Wednesday. Crude inventories rose by 2.6 million barrels to 442.3 million barrels in the week ended April 4, the EIA said, compared … Read more
The owner of the Keystone pipeline says a segment that ruptured in North Dakota has been isolated and the oil spill has been contained.
Calgary-based South Bow Corp. said Wednesday it estimates 3,500 barrels were released, equivalent to more than 556…
Oil and gas firm APA said on Wednesday it curtailed about 8 million cubic feet per day of U.S. natural gas production and 500 barrels per day of U.S. natural gas liquids production in the first quarter in response to weak prices. In January, APA said it reduced production by about 23,500 barrels of oil … Read more
By Shariq Khan and Georgina Mccartney Canadian crude oil discount to US oil widened after shutdown South Bow stock tumbled to lowest since October Amount of spill is not known yet, pipeline to be shut until at least Wednesday NEW YORK/HOUSTON, April 8 (Reuters) – The Keystone oil pipeline from Canada to the United States … Read more
April 8 (Reuters) – A prominent energy research firm slashed its five-year outlook for new U.S. wind energy projects by 40% on Tuesday, citing Trump administration policies and concerns about the economy. Wood Mackenzie expects the United States to install 45.1 gigawatts of wind, both onshore and offshore, through 2029. It had originally forecast installations … Read more
Oil prices fell to a four-year low on Wednesday in its worst five-day losing streak in three years, while several commodities, including base metals, tumbled as the trade war between China and the U.S. is set to intensify. Stocks in Asia extended a slide on Wall Street as U.S. President Donald Trump looked set to … Read more
By David Wethe A top executive at Diamondback Energy Inc. called on President Donald Trump’s administration to explain how the global trade war will help shale producers, a rare instance of public pushback from a US oil boss. “This administration better have a plan @SecretaryWright,” Kaes Van’t Hof, president of Diamondback, said April 6 in … Read more
Russia, the world’s second biggest oil exporter, said on Wednesday that Ukraine continued to strike Russian energy infrastructure on a daily basis, in violation of a U.S.-brokered 30-day moratorium on strikes on energy infrastructure. Ukraine and Russia agreed on March 18 to stop attacking each other’s energy facilities, although President Vladimir Putin declined to endorse … Read more
The S&P 500 closed below 5,000 points for the first time in almost a year, reversing a strong morning rally as hopes faded for any imminent U.S. delays or concessions on tariffs ahead of a midnight deadline. The benchmark index fell 1.6% on Tuesday marking a $5.8 trillion loss in market value since President Donald … Read more
U.S. Energy Secretary Chris Wright on Wednesday will launch a nearly two-week tour of three Middle East countries, including Saudi Arabia, marking his first visit as a U.S. official to the de facto leader of the OPEC oil producer group, a source familiar with the matter told Reuters. The trip, which will also include visits … Read more
Summary Brent, WTI down as much as 4% US imposes 104% tariff on imports from China US crude stockpiles fell last week, industry data shows (Reuters) – Oil prices fell for a fifth day on Wednesday to their lowest since February 2021 after U.S. President Donald Trump’s “reciprocal” tariffs took effect, including a 104% duty … Read more
Global markets were pummelled on Wednesday as President Donald Trump’s eye-watering 104% tariffs on China took effect, and a savage selloff in U.S. bonds sparked fears that foreign funds were fleeing U.S. assets. This week has brought crisis-era volatility to markets, wiping off trillions of dollars in value from stocks and hitting commodities and … Read more
By Georgina Mccartney Oil prices settle down more than $1 a barrel Downside risks remain as US, China escalate tariff conflict Goldman Sachs says Brent, WTI could hit $62 and $58, respectively, by December 2025 Trump says US and Iran will hold nuclear talks in Oman HOUSTON, April 8 (Reuters) – Oil prices settled down … Read more
By Georgina Mccartney Oil prices settle down more than $1 a barrel Downside risks remain as US, China escalate tariff conflict Goldman Sachs says Brent, WTI could hit $62 and $58, respectively, by December 2025 Trump says US and Iran will hold nuclear talks in Oman HOUSTON, April 8 (Reuters) – Oil prices settled down … Read more
By Jarrett Renshaw, Timothy Gardner and Trevor Hunnicutt US power demand rising from artificial intelligence Coal’s share of power generation less than 20% from 50% in 2000 Orders to direct coal leasing plans on US lands WASHINGTON, April 8 (Reuters) – U.S. President Donald Trump signed executive orders on Tuesday that aim to boost coal … Read more
(Reuters) – The CEOs of two Canadian oil and gas producers said on Tuesday they are seeking to avoid making rash decisions, as global oil prices hover around four-year lows and recession fears grow. Doug Bartole, CEO of Calgary-based InPlay Oil, said his company does not foresee reducing production or capital spending in the short … Read more
(Reuters) – Germany has looked to liquefied natural gas (LNG) imports to replace piped Russian gas since Moscow’s invasion of Ukraine in 2022. Its first move has been to deploy floating storage regasification units (FSRUs) to receive seaborne LNG, while longer term it plans shore-based regasification terminals and facilities to import and produce ammonia and … Read more
(Reuters) – U.S. liquefied natural gas producer NextDecade said on Tuesday it had signed an agreement with a subsidiary of Saudi Aramco to supply the superchilled gas from its Rio Grande facility for 20 years. As part of the deal, the Aramco subsidiary will purchase 1.2 million tonnes per annum of LNG from Train 4 … Read more
Chinese buyers of LNG are re-selling U.S.-sourced cargoes as tit-for-tat tariffs drive up import costs, and the trend is set to accelerate as new multi-year supply deals kick in this month and domestic demand weakens, traders and analysts say. Beijing, which imposed 15% tariffs on U.S. LNG imports in early February, on Friday slapped reciprocal … Read more
Mexico has been speaking to private sector companies about increasing fracking to reduce its reliance on U.S. gas amid heightened trade tensions between the two countries, the Financial Times reported on Tuesday. Imports, which are almost entirely from the United States, meet 72% of the total demand for natural gas consumed in Mexico. Any policy … Read more
(Reuters) – Goldman Sachs forecast that Brent and WTI crude prices would be at $62 a barrel and $58 by December 2025 and at $55 and $51 by December 2026, respectively, under two assumptions. The bank, in a note dated April 7, said that the first assumption is the U.S. economy avoids a recession given … Read more
(Reuters) – U.S. President Donald Trump will sign executive orders on Tuesday aimed at boosting the nation’s coal industry, two sources familiar with the matter told Reuters. Trump, a Republican who campaigned on a promise to increase U.S. energy output and has sought to roll back energy and environmental regulations since taking office January 20, … Read more
Summary • Benchmark Brent crude oil has neared four-year lows • Oil revenue made up 62% of state budget last year • Kingdom and sovereign fund need more debt, analysts say • Oil giant Aramco, long-time cash cow, slashing 2025 dividends DUBAI, April 8 (Reuters) – Saudi Arabia, with its wealth linked inextricably to oil … Read more
By Shariq Khan NEW YORK, April 7 (Reuters) – The U.S. Energy Information Administration said on Monday it is delaying publication of the “Short-Term Energy Outlook” (STEO) report, amid a plunge in oil prices to near four-year lows over growing concerns of a global recession. The report, scheduled for Tuesday, April 8, will now be … Read more
As the leading oil and gas producer in Colorado’s Denver-Julesburg (DJ) Basin, Chevron continues to set industry benchmarks in methane emission reduction through its commitment to technological innovation and environmental stewardship. A key milestone in Chevron’s sustainability journey is its collaboration with Kathairos Solutions, an industry leader in well site methane elimination technology. Chevron’s extensive … Read more
Summary • Equities rebound supports crude oil prices • Downside risks remain as US and China escalate tariff conflict • Trump says US and Iran will hold nuclear talks in Oman (Reuters) – Oil prices steadied on Tuesday but remained near four-year lows as a recovery in equity markets was outweighed by recession fears exacerbated … Read more
WASHINGTON, April 7 (Reuters) – U.S. President Donald Trump said on Monday said selling energy to the European Union would be a key focus as his administration seeks to eliminate a trade deficit with the bloc. “The European Union’s been very bad to us,” Trump told reporters at the White House, accusing European nations of … Read more
Poilievre also announces he will approve LNG Canada’s Phase II, plus at least 9 other projects that are waiting for the go-ahead. Terrace, BC – Conservative Leader Pierre Poilievre announced that he will create a new ‘One and Done’ rule for resource projects: a one-stop shop, with one simple application and one environmental review. Poilievre also announced … Read more
(Reuters) – Major stock indexes fell again in volatile trading on Monday as U.S. President Donald Trump said he will impose an additional 50% tariff on China if Beijing does not withdraw its retaliatory tariffs on the United States, while the dollar and bond yields rose. Also, the White House denied a report that Trump … Read more
By Elizabeth Hampton (Reuters) – Hello Power Up readers! Markets are continuing to spiral downward as U.S. President Donald Trump’s trade war stokes growing concerns of a recession. The S&P 500 extended its fall, nearing bear territory, and Goldman Sachs on Monday forecast a 45% chance of a recession in the United States next month. … Read more
(Reuters) – The Kremlin said on Monday that Russia would do everything necessary to insulate the world’s second largest crude exporter from a global “economic storm” which has sown extreme turbulence in oil markets and raised concerns of a recession. Brent futures fell $1.61, or 2.5%, to $63.97 per barrel, and have fallen 15% over … Read more
(Reuters) – OPEC oil output fell in March ahead of a scheduled output hike, a Reuters survey found, as Nigeria curbed deliveries to domestic refineries and Iranian and Venezuelan supply dropped on renewed U.S. attempts to curb the flows. The Organization of the Petroleum Exporting Countries pumped 26.63 million barrels per day last month, down … Read more
Goldman Sachs revised down its annual average price forecasts again for Brent and WTI crude in 2026, citing increased recession risks and the possibility of higher-than-expected OPEC+ supply. In a note dated April 6, the bank cut its 2026 average price forecast by $4 for Brent to $58 a barrel and WTI to $55. The … Read more
April 7 (Reuters) – Exxon Mobil CEO Darren Woods’ pay package for 2024 rose 19.3% to $44.1 million, a regulatory filing by the U.S. oil major on Monday showed. Woods’ base salary was about $1.96 million, with the majority of his pay package based on variable factors, including a $4.5 million bonus and $26.8 million … Read more
Researchers see negative impacts across the board, but some countries and industries are far more exposed. Solar and onshore wind should fare better. One set of US President Donald Trump’s tariffs went into effect on Saturday. The rest are due to begin Wednesday. Stock markets around the world have taken a nosedive, with some indices cratering even … Read more
Summary U.S. accounted for 62% of China LPG, ethane imports in 2024 While China accounted for a third of U.S. LPG, ethane exports Trade war likely to lead to sharp drop in shipments LONDON, April 7 – The often overlooked yet rapidly expanding petrochemical feedstock trade between the United States and China could become one … Read more
(Reuters) – Shell lowered its first-quarter liquefied natural gas (LNG) production outlook in a trading update on Monday, citing the impact of bad weather in Australia, before it publishes results on May 2. The British company guided for LNG output to reach between 6.4 million and 6.8 million metric tons, down from a previous forecast … Read more
Summary • Utilities face challenges predicting future power demand for data centers • Tech companies seek multiple bids, complicating demand forecasts • Rising costs and AI advancements may reduce future power needs NEW YORK, April 7 (Reuters) – U.S. electric utilities are fielding massive requests for new power capacity as Big Tech scours the country … Read more
(Reuters) – Energy firms have slowed construction of offshore wind farms in the U.S. for various reasons in recent years, including, most recently, opposition from U.S. President Donald Trump’s administration. Offshore wind was a key pillar of former President Joe Biden’s promise that fighting climate change will create jobs and invigorate the economy. In 2023 … Read more
Stock markets in the Gulf fell sharply on Sunday as U.S. President Donald Trump’s drastic trade tariffs and countermeasures from China stoked fears of a trade war and the prospect of a global recession.China’s finance ministry said on Friday it will impose additional 34% tariffs on all U.S. goods from April 10 as a countermeasure … Read more
Tariff-stunned markets face another week of potential tariff turmoil, with fallout from President Donald Trump’s sweeping import levies keeping investors on edge after the worst week for U.S. stocks since the onset of the coronavirus crisis five years ago. Investors will look for signs the stock market may be close to at least a short-term … 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
You’re invited to join Presto Geosystems for a live, 1-hour webinar to explore how the GEOWEB® Soil Stabilization System can strengthen infrastructure resilience for your road, highway, and bridge projects. Webinar Description Infrastructure development for highways and road corridors faces many challenges when it comes to project design and construction. Building asphalt or concrete roadways … Read more
(Reuters) – Chevron was ordered to pay $740 million to restore damages the oil and gas major caused to southeast Louisiana’s coastal wetlands, the Associated Press reported on Friday. The ruling — delivered by a jury — awarded $575 million for land loss compensation, $161 million to compensate for contamination and $8 million for abandoned … Read more
Summary • Saudi Arabia seeks to punish cheaters – three sources • Oil falls 8% below $65 per barrel, lowest since 2021 • Move revives memories of oil price wars of 2014, 2020 • Production hike, oil price drop to appease Trump (Reuters) – Saudi Arabia’s anger at Kazakhstan and other over producing nations was … Read more
The survey was taken in the same week U.S. President Donald Trump escalated a global trade war A man wearing an “I love Canadian pipelines” shirt applauds during a pro-pipeline gathering in downtown Vancouver, Tuesday, June 18, 2019. Photo by THE CANADIAN PRESS/Jonathan Hayward More than three in four Canadians would support publicly funding an … Read more
Reuters) – The Panama Canal has authorized the opening of a bidding process for a new pipeline that will transport liquefied petroleum gas (LPG) across the interoceanic waterway, its authority said on Friday. Since Panama’s Supreme Court last year ruled the return of areas near the canal to its administration, the planning of projects to … Read more
Summary • Brent and WTI hit lowest since April 2021 • Goldman Sachs, Citi cut oil price forecasts • Saudi crude prices for Asian buyers reduced to four-month low (Reuters) – Oil prices extended losses on Monday, falling 3% as escalating trade tensions between the United States and China stoked fears of a recession that … Read more
(Reuters) – U.S. oilfield service firms are bracing for a hit as President Donald Trump’s tariffs throw supply chains into disarray and tumbling oil prices set the stage for a drop in drilling activity, analysts and financial firms said on Friday. Financial services firm Morningstar lowered its fair value estimates for the big three oilfield … Read more
(Reuters) – U.S. energy firms this week cut the total number of rigs operating for a second week in a row, even as the number of oil rigs rose to the highest since June, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early … Read more
The discount of Western Canada Select (WCS) heavy crude to the North American benchmark West Texas Intermediate futures (WTI) continued to narrow on Friday, dipping into sub-$9 territory as global oil prices fell to pandemic levels. WCS for May delivery in Hardisty, Alberta, settled at $8.90 a barrel under WTI, according to brokerage CalRock, after … Read more
Global stock markets extended their recent rout on Friday, with S&P 500 companies wiping out $5 trillion in stock market value since U.S. President Donald Trump unveiled sweeping tariffs on Wednesday, while investors fled to the safety of government bonds.The Nasdaq confirmed it was in a bear market, ending more than 20% below its record … Read more
Summary • Brent closes at lowest since August 2021 • Oil posts biggest weekly decline since 2023 • China announces retaliatory tariffs on US • OPEC+ unexpectedly speeds up oil output hikes • Russian court rules not to suspend Caspian pipeline export terminal (Reuters) – Oil prices plunged 7% on Friday to settle at their … Read more
(Reuters) – U.S. natural gas futures dropped about 7% to a five-week low on Friday on a decline in daily liquefied natural gas (LNG) exports and forecasts for mild weather and lower demand over the next two weeks than previously expected. That price drop occurred despite a decline in output so far this month. Gas … Read more
The U.S. Energy Department has identified thousands of staffers it has deemed as non-essential, including at its office that manages the country’s nuclear weapons arsenal, who would not be protected in a second round of cuts, an Associated Press report said on Friday. More than 8,500 staffers across the department and 500 positions at the … Read more
(Reuters) – Shares of U.S. refiners fell to two-year lows on Friday in the wake of U.S. President Trump’s announcement of new tariffs, as fears of slower oil and fuel demand and weakening refining margins rattled investors. Top refiners Marathon Petroleum, Valero Energy and Phillips 66 have shed more than $20 billion in market capitalization … Read more
The US has imported about 80% of modules from four Southeast Asian countries that face big new levies. Workers install solar panels on the roof of a home in San Francisco, California.Photographer: Michaela Vatcheva/Bloomberg By Josh Saul, Shoko Oda, and Jennifer A Dlouhy America’s solar industry has a strategy for dulling US tariffs: hoard. Developers … Read more
By Emma Sanchez and David Wethe Shale-oil companies are taking some of the harder lumps on Wall Street as crude prices tumble and President Donald Trump’s trade war runs headlong into his goal to turbocharge US energy production. The S&P 500 Energy Index is down more than 15% since the president announced the sweeping tariffs … Read more
CERNOBBIO, Italy, April 4 (Reuters) – Oil majors are suffering after eight OPEC+ countries unexpectedly agreed to increase oil output in May, while tariffs imposed by U.S. administration had a muted effect on the sector, Eni’s (ENI.MI) top executive Francesco Gattei said on Friday. He added that energy groups could react to the possibility of … Read more
By Shadia Nasralla Lund oversaw BP’s 2020 plan to slash oil, gas output Company veered back towards oil and gas this year Elliott, shareholders had discussed potential leadership changes April 4 (Reuters) – BP (BP.L) Chair Helge Lund intends to step down “likely during 2026”, the energy group said on Friday amid a campaign by … Read more
By Mohi Narayan (Reuters) – Sweeping new U.S. import tariffs threaten to further erode demand for global petrochemical producers and accelerate capacity cuts in an industry plagued by weak margins, industry officials and analysts said. Tariffs announced by President Donald Trump on Wednesday are expected to drive up prices for goods such as electronics, appliances … Read more
Brookfield Infrastructure Partners is buying Colonial Pipeline, the largest U.S. fuel transportation system, in a deal valued at about $9 billion, including debt, the company said on Thursday. The deal to acquire all assets of Colonial Enterprises, including Colonial Pipeline, is expected to close in the second half of 2025. Colonial’s pipeline system stretches over … Read more
Goldman Sachs lowered its forecast for Brent crude’s average price this year by 5.5% to $69 a barrel and for WTI prices by 4.3% to $66, citing the risks of higher OPEC+ supply and the global trade war triggering a recession. The Wall Street brokerage also chopped its 2026 average price forecast for Brent by … Read more
U.S. liquefied natural gas developer Venture Global exported 29 cargoes from its Plaquemines facility in Louisiana during the first quarter of 2025, the company said in a regulatory filing on Thursday. Venture Global realized an average fixed liquefaction fee of $7.26 per million British thermal units (mmBtu) from the Plaquemines plant, it said in the … Read more
By Timothy Gardner (Reuters) – The administration of President Donald Trump said on Thursday it has identified 16 potential sites on U.S. Department of Energy lands where data centers and power plants supporting the boom in artificial intelligence can be developed. WHY IT’S IMPORTANT Rapid growth in AI is leading to the first boom in … Read more
Summary • Brent and WTI set for lowest close since April 2021 • China announces retaliatory tariffs on US • Oil set for biggest weekly decline since 2023 • OPEC+ output increase exacerbates losses LONDON, April 4 (Reuters) – Oil prices plunged by 8% on Friday, heading for their lowest close since the midst of … Read more
Elliott Investment Management said on Thursday that Phillips 66’s stock price could nearly double to $200 if the oil refiner sells or spins off its midstream business and puts more focus on refining and enhances oversight.The activist investor, which owns a $2.5 billion stake in the company, also slimmed down to four the number of … Read more
Almost unnoticed in the sweeping new import tariffs announced by U.S. President Donald Trump is that energy commodities have been excluded. The baseline of 10% on all imports to the United States, and higher for many major trading partners, won’t apply to crude oil, natural gas and refined products, the White House said on Wednesday. … Read more
Major U.S. stock indexes registered their biggest daily percentage drops since 2020 on Thursday and the dollar weakened as U.S. President Donald Trump’s drastic trade tariffs stoked fears of a global recession and led investors to seek safe-haven assets like bonds and the yen. S&P 500 companies lost a combined $2.4 trillion in stock market … Read more
Summary • Brent, WTI down more than 7% • Trump to impose 10% minimum tariff on most import goods • Imports of oil, gas, refined products exempted from new tariffs • OPEC+ to bring more oil to market in May than previously planned HOUSTON, April 3 (Reuters) – Oil prices swooned on Thursday to settle … Read more
By Olesya Astakhova, Ahmad Ghaddar and Alex Lawler Eight OPEC+ members to hike output by 411,000 bpd in MayOil market had expected May hike of 135,000 bpd Decision may force compliance laggards to step up, analyst says Trump has called on OPEC to lower oil prices LONDON/MOSCOW, April 3 (Reuters) – Eight OPEC+ countries unexpectedly … Read more
(Reuters) – Russia said on Thursday that threats of military strikes against its ally Iran were unacceptable and warned that attacking the Islamic Republic could lead to potentially catastrophic results if nuclear installations were bombed. U.S. President Donald Trump threatened Iran on Sunday with bombing and secondary tariffs if Tehran did not come to an … Read more
European Commission President Ursula von der Leyen described U.S. President Donald Trump’s universal tariffs as a major blow to the world economy and said the European Union was prepared to respond with countermeasures if talks with Washington failed. Von der Leyen said the EU was already finalising a first package of tariffs on up … Read more
Summary Oil, gas exempt from Trump’s import tariffs US remains dominant in global energy markets Countries may increase US energy purchases to offset tariffs LONDON, April 3 – President Donald Trump’s reveal of sweeping import tariffs further darkened the outlook for the global economy and left many questions unanswered. But amid all the policy fog, … Read more
U.S. President Donald Trump announced a slew of reciprocal tariffs on trading partners on Wednesday, the latest in a series of extensive duties imposed since his return to the White House earlier this year. The U.S. will now impose a 10% baseline tariff on all imports to the country effective April 5 and higher duties … Read more
Summary • Brent, WTI sink by 6% • Trump to impose 10% minimum tariff on most import goods • Imports of oil, gas, refined products exempted from new tariffs • OPEC+ to bring back more oil to market in May than previously planned LONDON, April 3 (Reuters) – Oil prices fell 6% on Thursday as … Read more
By Amanda Stephenson Construction cost overruns boosted fees for shipping oil on line Regulators will hold hearing on whether higher costs are fair Potential US tariffs may still boost Trans-Mountain’s appeal CALGARY, April 2 (Reuters) – Canada’s Trans Mountain oil pipeline has downgraded forecasts for the amount of oil expected to flow through its system … Read more
By Bernard Condon Original: financialpost.com/pmn/tesla-sales-drop-13-in-first-quarter-as-elon-musk-backlash-aging-models-hurt-demand Tesla sales fell 13 per cent in the first three months of the year, another sign that Elon Musk’s once high-flying electric car company is struggling to attract buyers. The double-digit drop is likely due to a combination of factors, including its aging lineup, competition from rivals and a backlash … Read more
(Reuters) – U.S. crude oil and distillate inventories rose while gasoline inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 6.2 million barrels to 439.8 million barrels in the week ending March 28, the EIA said, compared with analysts’ expectations in a Reuters poll for a 2.1 million-barrel draw. … Read more
Karen McKee to Retire After 34 years of Service Matt Crocker Appointed President, ExxonMobil Product Solutions Company and Vice President, Exxon Mobil Corporation SPRING, Texas–(BUSINESS WIRE)–ExxonMobil (NYSE: XOM) today announced Karen T. McKee, president of ExxonMobil Product Solutions Company and vice president Exxon Mobil Corporation, will retire effective May 1, 2025. The Board of Directors has … Read more
Authors: Leonard Herchen & Yuchen Wang Overview The energy market has remained resilient despite recent shifts in trade policies. While tariffs on Canadian crude and broad-based Chinese imports have introduced new considerations for operational costs and international supply routes, overall price movements have remained within typical volatility ranges. Market fundamentals continue to play a dominant … Read more
A huge natural gas-powered data center that will serve the growing demands of artificial intelligence is being planned for the site of a former coal-fired power plant in Pennsylvania. The 3,200-acre (1,295-hectare) data center campus, located about 50 miles east of Pittsburgh, will be developed at the location of Homer City Generation, previously the state’s … Read more
(Reuters) – Eight OPEC+ countries meeting on Thursday will focus debates on how to convince Kazakhstan to stop exceeding its output quota and its plans to compensate for overproduction as the group steps up gradual production hikes, two delegates told Reuters. Record Kazakh output has angered several other members of the group, including top producer … Read more
Summary • Concerns remain over how tariffs will be implemented • Some analysts warn of bearish impact on oil prices • Markets also await news on secondary tariffs on Russian oil April 2 (Reuters) – Oil prices extended losses on Wednesday, pressured by fears that U.S. reciprocal tariffs due to be announced at 2000 GMT … Read more
MIDLAND, Texas, April 01, 2025 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or “the Company”) today announced that it has completed its previously announced acquisition of certain subsidiaries of Double Eagle IV Midco, LLC (“Double Eagle”). About Diamondback Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, … Read more
Most of Canada’s oil reserves are in Alberta, along with a majority of natural gas reserves. Alberta is the beating heart of the Canadian energy economy. JOCK FINLAYSON By any measure, Alberta is an energy powerhouse — within Canada, but also on a global scale. In 2023, it produced 85% of Canada’s oil and three-fifths … Read more
WASHINGTON — Democrats in the U.S. Senate are moving forward on a resolution to block sweeping tariffs targeting Canada as President Donald Trump presses Republican lawmakers to continue backing his trade agenda. Sen. Tim Kaine plans to force a vote on Trump’s use of the International Economic Emergency Powers Act, also called IEEPA, to declare … Read more
(Reuters) – U.S. crude oil production fell by 305,000 barrels per day to 13.15 million bpd in January, the lowest level since February 2024, data from the U.S. Energy Information Administration showed on Monday. That was the biggest decline in monthly U.S. oil output since January 2024, the data showed. The EIA also lowered its … Read more
(Reuters) – ConocoPhillips is exploring the sale of oil and gas assets in Oklahoma that it inherited from its $22.5 billion takeover of Marathon Oil last year, people familiar with the matter said. The energy producer has hired investment bank Moelis & Co to run the sale process for the assets, the sources said, adding … Read more
U.S. natural gas prices are already up by around 80% from a year ago, but are due for a fresh jolt from the knock-on effects of the latest round of trade tariffs imposed by the U.S. government on goods entering the country. Regardless of how and when the new tariffs kick in, the U.S. gas … Read more
The U.S. is slated on Wednesday to rescind a policy issued by the administration of former President Joe Biden that requires liquefied natural gas, or LNG, projects to export within seven years of receiving regulatory approval. The LNG industry had pushed the administration of President Donald Trump to rescind the policy statement issued in April … Read more
By Ron Bousso Trump threatens secondary tariffs on Russia, Iran oil exports Tariffs on Venezuela have been effective Market struggles to price in Trump’s threats (Reuters) LONDON, April 1 – Oil diplomacy could become a hallmark of Donald Trump’s second term in office, if the last few weeks are any guide, but energy markets have … Read more
(Reuters) – The U.S. exported a record amount of liquefied natural gas (LNG) in March, selling more than 9 million metric tons (MT) of the superchilled gas, according to preliminary data from LSEG. The U.S. is already the world’s largest exporter of LNG and President Donald Trump has promised to unleash American energy by declaring … Read more
Sempra plans to sell some natural gas assets, including a Mexican fuel distributor and a minority stake in its liquefied natural gas business, to “simplify the company’s portfolio” and support growth for its Texas and California utilities. Summary by Bloomberg AI The move is part of a trend among US power companies to raise capital … Read more
President Donald Trump promised on the campaign trail to lower energy costs for consumers by increasing US oil and gas production. He’s continued with that refrain in office. “As you’ve heard me say many times, we have more liquid gold under our feet than any nation on Earth,” he said during his address to a joint session … Read more
Summary • Market weighs near-term supply risks, tariff concerns • Reuters poll indicates lower U.S. crude inventories (Reuters) – Oil prices steadied near five-week highs on Tuesday as threats by U.S. President Donald Trump to impose secondary tariffs on Russian crude and attack Iran countered worries about the impact of a trade war on global … Read more
Stellantis sold 5.5 million vehicles last year, including roughly 2.6 million in Europe, and generated sales of €156.9 billion Bloomberg News Stellantis NV’s strategy to make more hybrids is causing manufacturing delays in Europe because the automaker can’t source enough parts. This month the company produced 20,000 fewer vehicles than expected as it didn’t have … Read more
** As Q1 draws to a close, energy looked set to come out the top performer among the S&P 500’s major industry sectors for the quarter, with a ~9% gain for the period ** Energy, up 0.7% on Mon, is also among the best-performing sectors of the day, outperforming the broader market, with the S&P … Read more
(Reuters) – Brookfield Asset Management is putting the final touches on a deal to acquire Colonial Pipeline, the largest U.S. fuel transportation system, for more than $9 billion including debt, people familiar with the matter said on Monday. The New York-based asset manager has emerged as the winner of the auction process, which the five … Read more
(Reuters) – U.S. President Donald Trump’s threat to impose secondary tariffs of 25% to 50% on buyers of Russian crude oil is just crazy and bold enough to perhaps achieve his stated aim of a ceasefire in Ukraine. What matters now is the reaction of the other three key players to this latest move by … Read more
HOUSTON–(BUSINESS WIRE) – Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (“Chevron”) (NYSE: CVX), announced that it has closed on a transaction to sell a 70% interest in its East Texas gas assets to an affiliate of TG Natural Resources LLC (“TGNR”), a company indirectly owned by Tokyo Gas Co., Ltd. (“Tokyo Gas”) and Castleton … Read more
U.S. authorities have notified Spanish oil company Repsol that its license to export oil from Venezuela is to be revoked, a company spokesperson said on Monday, while Spain’s foreign minister promised to defend Repsol’s interests. President Donald Trump’s administration told Repsol it had until May 27 to wind down its operations in the Southern American … Read more
Poilievre will create the ‘Canada First’ National Energy Corridor to rapidly approve & build the infrastructure we need to end our energy dependence on America so we can stand up to Trump from a position of strength. Saint John, NB — Conservative Leader Pierre Poilievre announced today he will create a ‘Canada First’ National Energy Corridor … Read more
The “Buy Canadian” movement is sending new ripples of concern through the executive offices of U.S.-based consumer companies that banked on selling their products on Canadian retail shelves. California-based diaper maker Parasol Co had been working since January with a distributor to expand the sale of its diapers and baby wipes to new retailers in … Read more
Summary • Trump, mad at Putin, threatens tariffs on buyers of Russian oil • Market would look for OPEC response to any drop in Russian supply, analysts say (Reuters) – Oil markets rose on Monday after U.S. President Donald Trump threatened to hit buyers of Russian oil with tariffs, although gains were muted as traders … Read more
Summary • Oil prices steady, reversing earlier session losses • Trump warns imposing secondary tariffs on Russian oil buyers • Trump threatens Iran with bombing along with further tariffs March 31 (Reuters) – Oil prices held steady on Monday as investors adopted a cautious, wait-and-see stance after U.S. President Donald Trump threatened to impose secondary … Read more
The U.S. government has notified foreign partners of Venezuela’s state oil company PDVSA of the imminent cancellation of authorizations that allow them to export Venezuelan oil and byproducts, sources close to the decision by President Donald Trump’s administration said on Saturday. In recent years, former President Joe Biden’s administration granted the authorizations to secure Venezuelan … Read more
Most investors knew things could turn turbulent this year given U.S. President Donald Trump’s return to power in the world’s biggest economy and financial market, but few predicted the kind of a rodeo ride it has been so far. Scan the surface and world stocks are almost where they started the year, while volatility gauges … Read more
The Federal Energy Regulatory Commission issued a preliminary decision on Friday supporting environmental approval for NextDecade’s Rio Grande LNG project in southern Texas. In August, a Washington, D.C. Circuit court quashed the regulator’s approval for the plant at the Port of Brownsville, Texas, saying it failed to issue a supplemental Environmental Impact Statement on … Read more
U.S. President Donald Trump threatened Iran on Sunday with bombing and secondary tariffs if Tehran did not come to an agreement with Washington over its nuclear program. In Trump’s first remarks since Iran rejected direct negotiations with Washington last week, he told NBC News that U.S. and Iranian officials were talking, but did not elaborate. … Read more
U.S. President Donald Trump said on Sunday he was “pissed off” at Russian President Vladimir Putin and will impose secondary tariffs of 25% to 50% on buyers of Russian oil if he feels Moscow is blocking his efforts to end the war in Ukraine. Trump told NBC News he was angry after Putin last week … 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 one to 592 in … Read more
Next week, the UN votes on an ocean carbon tax that would spike the price of many consumer goods. The Trump administration must not allow this Biden climate policy to quietly take effect. By Alex Epstein Next week, the UN votes on an ocean carbon tax that would spike the price of food, fuel, and … Read more
Summary • U.S. LNG capacity could double in the next decade • Investment firms signal future growth in Haynesville with new funds • Operators cautious due to past price volatility and high breakeven costs HOUSTON, March 28 (Reuters) – U.S. natural gas producers and investment firms are gearing up for more activity in Louisiana’s Haynesville … Read more
By Shariq Khan and Georgina Mccartney Slowest Permian oil output growth forecast since pandemic Permian slowdown in contrast to Trump’s ‘drill, baby, drill’ mantra Gas and water output rises as the field ages, increasing costs Gas-to-oil ratio rises as gas output up eight-fold in past decade Water-to-oil ratio already high at Permian’s core, even higher … Read more
Upstream oil companies ramped up hiring in February, the Texas Independent Producers and Royalty Owners Association (TIPRO) said on Friday, marking the second straight month of growth. WHY IT’S IMPORTANT Hiring in the upstream sector, which includes activities related to drilling and producing oil, can serve as an indicator of the health of the oil … Read more
A federal district judge ruled against the Biden administration’s sale of oil and gas drilling rights in the Gulf of Mexico, citing insufficient analysis of the sale’s potential effects on the climate and endangered whales. Summary by Bloomberg AI The judge directed additional arguments on the best remedy, which could include invalidating leases sold in … Read more
(Reuters) – U.S. natural gas futures climbed about 3% to a one-week high on Friday on record flows to liquefied natural gas export plants and a decline in daily output. On its first day as the front month, gas futures for May delivery on the New York Mercantile Exchange rose 11.5 cents, or 2.9%, to … Read more
Summary • US set to impose reciprocal tariffs on wide range of imports • Weekly gains due to US pressure on Venezuela, Iran • Q2 seen tighter than previously forecast – analyst (Reuters) – Oil prices fell on Friday on worries that U.S. tariff wars could spark a global recession, but gained for a third … Read more
Oilfield service providers will face modest hits to earnings from U.S. President Donald Trump’s decision to impose tariffs on steel imports, Liberty Energy Chief Executive Ron Gusek said on Thursday. Trump imposed 25% tariffs on steel and aluminum on March 12, and more could be coming April 2. A Dallas Federal Reserve survey on Wednesday … Read more
By Tim Boersma and Gautam Jain March 28 – The Trump administration’s broad policy goal of achieving “energy dominance” may run into headwinds in the country’s largest export market, the European Union, due to new methane regulations. While European Commission President Ursula von der Leyen has indicated that the EU may be willing to import … Read more
Glenfarne, Alaska Gasline Development Corporation Sign Binding, Definitive Project Development Agreements Enhancing Momentum For The Project Alaska LNG Pipeline Final Investment Decision Anticipated in 2025 ANCHORAGE, Alaska & NEW YORK–(BUSINESS WIRE)–Today, Glenfarne Alaska LNG, LLC, an affiliate of Glenfarne Group, LLC, (together as ”Glenfarne”), and the Alaska Gasline Development Corporation (“AGDC”) signed definitive agreements for … Read more
(Reuters) – Russia accused Ukraine on Friday of attacking its energy facilities despite a moratorium on such strikes, saying a key piece of gas infrastructure in the town of Sudzha had been practically destroyed. A Ukrainian official said it was Russia that attacked the gas transit point in Sudzha. Reuters could not independently confirm which … Read more
(Reuters) – Tehran would strike U.S. bases in the region if Washington follows through on its warning of military consequences for Iran in the absence of a new nuclear deal, the speaker of the Iranian parliament said on Friday. U.S. President Donald Trump said earlier this month that he had sent a letter to Iran’s … Read more
5 answers AlexAI gave to user questions this week. By Alex Epstein Significant advances in LLMs plus the great work of my AI team are making my AI, AlexAI, better than ever. Here are 5 answers AlexAI gave to user questions this week. Want to ask AlexAI a question, have a discussion with him, or have him help … Read more
• Indian companies in talks with US companies for long-term LNG deals • India also looks to boost import of ethane, propane, butane • US second biggest LNG supplier to India NEW DELHI, March 28 (Reuters) – India is considering a proposal to scrap import tax on U.S. liquefied natural gas (LNG) to boost … Read more
• Biggest short position in Shell since 2016, FCA data shows • Elliott pushes for more change at BP • Elliott also has a short position in TotalEnergies (Reuters) – U.S. activist hedge fund Elliott Management, currently campaigning for more change at BP its capacity as a BP shareholder, has taken a big short position … Read more
By Ron Bousso Oil majors cut spending, boost shareholder returns amid uncertainty Exxon Mobil bucks trend with increased spending, production plans Peak demand narrative persists despite geopolitical energy shocks LONDON, March 26 – Top oil and gas companies are losing confidence in the outlook for their core businesses. Recent strategy updates by leading European and … Read more
By Jarrett Renshaw Trump administration asks Big Oil and Farm Belt to come to a consensus on biofuel policy Two meetings held so far, with consensus to seek higher biomass-based diesel volumes Other key issues still under discussion NEW YORK, March 27 (Reuters) – U.S. President Donald Trump’s administration has asked oil and biofuels producers … Read more
Tesla has boasted about its U.S. credentials, saying in a post on X that its models ‘are the most American-made cars’ Bloomberg News Donald Trump’s planned tariffs on auto imports will hurt carmakers around the world and push up prices for United States consumers. Among the many losers, one winner stands out: Elon Musk’s Tesla … Read more
Summary • Brent, WTI up over 2% this week • Support from Washington pressure on Venezuela, Iran • U.S. tariff war continues to weigh on prices (Reuters) – Oil prices were set for a third weekly gain on Friday as the U.S. ramped up pressure on Venezuela and Iran, though worries over whether Washington’s tariff … Read more
By Kate Abnett BRUSSELS, March 27 (Reuters) – The European Commission is considering changes to EU energy laws as part of its next package of proposals to cut the regulatory burden for struggling industries, sources familiar with the matter told Reuters. Brussels has launched a drive to remove layers of bureaucracy that European businesses say … Read more
Canada will wait until next week to strike back against the latest U.S. threat of tariffs and nothing is off the table regarding possible countermeasures, Prime Minister Mark Carney said on Thursday. Carney, warning Canadians that tough times lay ahead, also lamented what he said was the end of a long, mutually beneficial economic and … Read more
By Emma Sanchez Shale-oil executives assailed President Donald Trump’s trade policies in an anonymous survey, saying his barrage of tariffs were sowing confusion and undermining his goal to unleash America’s energy might. “The administration’s chaos is a disaster for the commodity markets,” one executive said in the report released Wednesday by the Federal Reserve Bank … Read more
By Scott Disavino US gas output on track to hit monthly record in March US LNG export feedgas set to hit monthly record in March US gas inventories on track for unusual build in March March 27 (Reuters) – U.S. natural gas futures climbed about 2% on Thursday on a decline in daily output, record … Read more
By Stephanie Kelly and Enes Tunagur Markets mixed on impact of Trump auto tariffs Tariffs on Venezuelan oil buyers still supporting prices Prices unlikely to return to early 2025 highs, some analysts say NEW YORK, March 27 (Reuters) – Oil prices edged higher on Thursday as traders assessed a tightening of crude supplies along with … Read more
By Shariq Khan and David French VTX is one of few private operators of scale left in the Permian Vitol working with Jefferies to find potential buyers Deliberations at an early stage, deal is not guaranteed -sources VTX produces 46,000 boepd across two Texas counties NEW YORK, March 27 (Reuters) – Global commodities trader Vitol … Read more
MADRID, March 27 (Reuters) – Spanish oil company Repsol (REP.MC) and private equity-backed NEO Energy have agreed to merge their UK North Sea oil and gas businesses to create a joint venture with output of around 130,000 barrels of oil equivalent per day this year. The new company, called NEO NEXT, will be 45%-owned by … Read more
President Donald Trump on Wednesday followed through on weeks of threats for new tariffs on imported cars, saying a 25% import tax on vehicles not built in the U.S. would kick in next week. Details of the plan, set to upend autos trade and supply chains were still being made public by the administration on … Read more
Britain’s competition regulator said on Thursday that oilfield services company SLB’s proposed $8 billion deal to buy smaller rival ChampionX could result in a substantial lessening of competition within the UK. The deal would be referred for an in-depth probe unless SLB and ChampionX offer remedial measures, UK’s Competition and Markets Authority (CMA) said, adding … Read more
European natural gas extended declines as ample supplies of LNG and warmer weather eased pressure on inventories after a rocky start to the year. Benchmark futures fell as much as 2.7%, with monthly imports of liquefied natural gas into northwest Europe set to jump more than 25% from a year earlier. Prices subsequently recouped some of that loss … Read more
By Valerie Volcovici and Lisa Baertlein US industries oppose $3 million fees on China-linked ships US shipping fees on China vessels face industry backlash China-linked ship fees spark US industry concerns WASHINGTON, March 26 (Reuters) – Fossil fuel and agriculture industry representatives are expected to criticize the Trump administration’s plan to impose big fees on … 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. crude oil inventories fell last week as refiners continued to ramp up production, while gasoline and distillate stockpiles also dropped, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.3 million barrels to 433.6 million barrels in the week ended March 21, the EIA said, compared with analysts’ expectations in … Read more
Summary • Tariffs on Venezuelan oil buyers remain supportive of prices • Markets mixed on impact of Trump auto tariffs • Prices seen unlikely to return to early 2025 highs, some analysts say (Reuters) – Oil prices were steady on Thursday as markets assessed new U.S. tariffs, while concerns about global supply kept prices near … Read more
Shell CEO Wael Sawan says the company will continue to look for potential acquisitions, but warns of the risks of pursuing a major deal. Summary by Bloomberg AI Sawan expects smaller-scale, bolt-on acquisitions centered around upstream production, and says the company is always looking at dealmaking prospects in Europe and beyond. Summary by Bloomberg AI … Read more
(Reuters) – The Army Corps of Engineers will complete as soon as next week its revised list of energy projects that could be fast-tracked under President Donald Trump’s declaration of a national energy emergency, a U.S. Army Corps official told Reuters. The Army Corps, a federal engineering service with permitting authority over projects involving wetlands … Read more
(Reuters) – Activity in the U.S. oil and gas sector increased slightly in the first quarter of 2025, but uncertainty and pessimism among companies also rose, a Dallas Fed survey showed on Wednesday. U.S. President Donald Trump has promised to unleash U.S. energy dominance, declaring a national energy emergency on his first day in office. … Read more
(Reuters) – A federal judge in Alaska ruled that former President Joe Biden’s administration lacked the authority to cancel oil and gas leases that had been issued for development within the Arctic National Wildlife Refuge. U.S. District Court Judge Sharon Gleason in Anchorage on Tuesday sided with a state-owned economic development public corporation in Alaska … Read more
(Reuters) – The Kremlin said on Wednesday that Moscow was continuing its intensive contacts with the U.S. and was pleased with how talks with Washington had gone so far after the United States said it had reached separate deals with Ukraine and Russia. The United States reached separate deals on Tuesday with Ukraine and Russia … Read more
(Reuters) – Phillips 66 is expected to nominate two new directors to its board as the proxy fight with activist Elliott Investment Management intensifies, the Wall Street Journal reported on Wednesday citing people familiar with the matter. The refiner is set to disclose four nominees, including the two new ones, in its proxy materials Wednesday … Read more
Mizuho cuts EOG Resources to “neutral” from “outperform”, PT by $8 to $140, still a 9.2% upside to last close Says a key concerns is depth and quality of EOG’s remaining shale inventory, esp in oil-focused basins like Delaware, Eagle Ford Adds cash margins per barrel seems to be declining due to higher cash taxes, … Read more
U.S. power producers emitted over 304 million metric tons of carbon dioxide (CO2) from power generation over the first two months of 2025, which was the highest for that period since 2019, according to data from energy think tank Ember. The emissions tally marked a 9% rise from the same period last year and was … Read more
By Mitchell Ferman Shell Plc’s sprawling in-house trading operation — which includes oil, natural gas and electricity — hasn’t lost money during a single quarter over the last decade, said Chief Executive Officer Wael Sawan. The London-based energy giant keeps a tight lid on information about its trading business for competition reasons, but Sawan provided … Read more
By Bjørn Lomborg Global evidence is clear: Adding more solar and wind to the energy supply pushes up the price of electricity for consumers and businesses. Families in Ontario know this already from their bitter experience: from 2005, the Ontario government began phasing out coal energy and dived headlong into subsidizing wind and solar generation. Those green … Read more
Goldman Sachs on Monday said it expects non-OPEC+ output growth to slow by about 0.3 million barrels per day (mb/d) over a 12-month period for every $10 per barrel decline in oil prices when Brent crude is above $70. The Wall Street bank estimates 2026 non-OPEC+ supply growth to decrease from 1.05 mb/d to … Read more
Mexican state energy company Pemex is actively looking to diversify its market for both motor fuel imports and crude oil exports, the head of its international trading unit PMI said on Tuesday. “If new opportunities in other markets open, we’ll pursue them and are pursuing them,” PMI Chief Executive Officer Margarita Perez said during a … Read more
Summary Brent, WTI trading near three-week highs Trump press on Venezuelan, Iranian oil fans bullish sentiment Russia, Ukraine agree to sea, energy truce Coming up: US EIA data on crude inventories at 1030 EDT (Reuters) – Oil prices edged higher on Wednesday as concerns about tighter global supply grew following the U.S. threat of tariffs … Read more
By Mitchell Ferman and James Herron Shell Plc said it would boost investor returns through the end of this decade by reinforcing its position as the world’s top trader of liquefied natural gas. The London-based energy giant will expand LNG sales, the key driver of profit growth in recent years, by 4% to 5% annually … Read more
This is the kind of integrity we need from industry—and from Congress. By Alex Epstein 28 energy leaders just called for the elimination of all IRA subsidies—even ones that benefit their companies. This is the kind of integrity we need from industry—and from Congress. The full letter is below (PDF here). Please share this with your Congressmen! Dear Chairman … Read more
As talks aimed at ending the war in Ukraine continue, a potential relief in sanctions imposed on Russia, including its vast energy sector, is one of the issues on the agenda. Oil and gas exports are a key revenue source for Moscow and the sector has been subject to Western sanctions since 2014, when Russia … Read more
Geospatial data has become an indispensable tool in land planning for the energy sector. The need for comprehensive, precise, and up-to-date information is paramount. While free sources like Google Maps provide some insights, relying solely on them is risky and may lead to suboptimal decisions. Whitestar by ESG ParcelsHD+ offers access to over 350 data … Read more
Q&A with Mike Verney, executive vice-president, McDaniel & Associates By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter New analysis commissioned by the Alberta Energy Regulator has increased the province’s natural gas reserves by 440 per cent, bumping Canada into the global top 10. Alberta’s oil reserves … Read more
Alaskan state representatives led by the governor and including energy officials are due to visit South Korea on Tuesday, amid expectations of talks with U.S. allies in Asia to revive a stalled natural gas project touted by President Donald Trump. Governor Mike Dunleavy’s delegation will include officials from the Glanfarne Group that is a … Read more
(Reuters) – U.S. President Donald Trump said on Monday that any country that buys oil or gas from Venezuela will pay a 25% tariff on any trades made with the United States. This “secondary tariff” will take effect on April 2, Trump said in a Truth Social post. Trump said he is imposing the move … Read more
• Brent and WTI up 0.4% after gaining 1% on Trump tariffs • Trump says any country buying Venezuelan oil will face a 25% tariff • OPEC+ likely to raise oil output for a second month in May (Reuters) – Oil prices rose on Tuesday for a fifth day on concerns global supply will tighten … Read more
Natural gas flows to Freeport LNG’s export plant in Texas were set to rise on Tuesday after a lightning strike on a pipeline caused the plant to shut on Monday, data from financial firm LSEG showed. Freeport is one of the most closely watched LNG export plants in the world because the start and … Read more
(Reuters) – U.S. natural gas futures held steady on Monday as record flows to liquefied natural gas (LNG) export plants offset record output and forecasts for milder weather and lower demand over the next two weeks than previously expected. Front-month gas futures for April delivery on the New York Mercantile Exchange held at $3.983 per … Read more
(Reuters) – U.S. and Russian officials began talks in Saudi Arabia on Monday aimed at making progress towards a broad ceasefire in Ukraine with Washington eyeing a separate Black Sea maritime ceasefire deal before securing a wider agreement. The talks, which followed U.S. negotiations with Ukraine in Saudi Arabia on Sunday, come as U.S. President … Read more
(Reuters) – Russia’s central bank has warned the Kremlin’s policy makers the United States and OPEC have the capacity to flood the oil market and cause a repeat of the prolonged price collapse of the 1980s – which contributed to the downfall of the Soviet Union. The warning came weeks before Russian and U.S. Presidents … Read more
By Steven Globerman What the History of Technological Change Tells Us About the Likely Economic Consequences of Artificial Intelligence Artificial Intelligence (AI) is an emerging General Purpose Technology (GPT). That is, it is an innovation that can be used for many activities across different industries and sectors and can be expected to have a major … Read more
By Irina Slav In 2016, several environmentalist organisations ignited a massive protest against a pipeline project in North Dakota. Some 100,000 people descended on a tiny town in the state, overran it and left it with a bill of $38 million for policing the protests and cleanup. Because they’re environmentalists, you see, and when environmentalists litter, it … 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 one to 593 in the week to March … Read more
U.S. oil major Chevron said on Friday its Chairman and Chief Executive Officer Michael Wirth was paid $32.7 million in 2024, according to a filing with the Securities and Exchange Commission. The total compensation received by Wirth represents a 23.4% increase from the prior year. However, the median annual compensation for Chevron employees, in the U.S. … Read more
(Reuters) – The United Arab Emirates has committed to a 10-year, $1.4 trillion investment framework in the United States after top UAE officials met President Donald Trump this week, the White House said on Friday. The framework will “substantially increase the UAE’s existing investments in the U.S. economy” in AI infrastructure, semiconductors, energy, and manufacturing, … Read more
(Reuters) – Oil prices inched up on Monday as investors weighed the impact of fresh U.S. sanctions on Iranian exports against ceasefire talks aimed at ending the Russia-Ukraine war, which could lead to an increase in Russian supplies to global markets. Brent crude futures gained 4 cents at $72.2 a barrel by 0735 GMT. U.S. … Read more
Renewable power assets have now become a buyers’ market Wind, solar are still key to meet rising electricity demand Private infrastructure investors are snatching up green bargains in what’s emerged as a buyer’s market for wind, solar and battery projects. The moves follow a a slump in clean-energy stocks, as US President Donald Trump’s call for … Read more
By Georgina Mccartney HOUSTON, March 21 (Reuters) – Oil prices will likely slip this year, the director of North Dakota’s state oil regulator predicted, amid uncertainty surrounding U.S. President Donald Trump’s tariffs on neighboring Canada and Mexico. North Dakota is the third-largest oil producing state in the U.S. U.S. crude futures have been trading below … Read more
U.S. Secretary of the Interior Doug Burgum and U.S. Secretary of Energy Chris Wright speak with members of the media outside of the West Wing of the White House, in Washington, D.C., U.S., March 19, 2025. REUTERS/Kent Nishimura WASHINGTON, March 20 (Reuters) – U.S. Interior Secretary Doug Burgum on Thursday announced steps to open up … Read more
By Jennifer A Dlouhy Oil executives pressed for faster permitting — and didn’t discuss concerns about falling crude prices — during a meeting with President Donald Trump on Wednesday, Interior Secretary Doug Burgum said. The more than hour-long session brought Trump, an unabashed champion of American oil and gas might, face to face with more … Read more
Summary • Benchmarks record highest weekly gains since early January • Fresh US sanctions on Iran include Chinese independent refiner • Prices also supported by latest OPEC+ production plans (Reuters) – Oil prices settled higher on Friday and recorded a second consecutive weekly gain as fresh U.S. sanctions on Iran and the latest output plan … Read more
(Reuters) – The future of Canada’s six-year-old carbon pricing system is on shaky ground after 14 oil and gas CEOs and the political opposition leader this week called for its repeal. Scrapping the system, which aims to reduce pollution by giving heavy industry a financial incentive to cut carbon emissions, however, puts the viability of … Read more
By Sarah Mcfarlane and Shadia Nasralla Elliott, some investors want deeper change at BP, sources say Cost cuts, potential board change among options, sources say BP says it has received ‘widespread support’ from investors March 21(Reuters) – Activist investor Elliott Management has met several large shareholders in BP (BP.L) to try to forge a consensus … Read more
Despite Donald Trump’s push to expand domestic energy infrastructure, building new oil and natural gas pipelines remains difficult Brookfield Asset Management Ltd. is emerging as the front-runner to acquire Colonial Pipeline Co., people familiar with the matter said. The investment firm is seen as the strongest contender after final offers were submitted last week, advancing … Read more
His executive orders supporting digging and drilling may not be enough to revive the beleaguered sector. By Shoko Oda Welcome to Energy Daily, our guide to the commodities markets powering the global economy. Today, reporter Shoko Oda looks at the market realities facing the White House’s love for coal. President Donald Trump is again signaling … Read more
By Alex Lawler and Ahmad Ghaddar New schedule for 7 members to make compensation output cuts Plan represents monthly cuts of between 189,000 and 435,000 bpd Cuts scheduled to last until June 2026 LONDON, March 20 (Reuters) – OPEC+ on Thursday issued a new schedule for seven member nations to make further oil output cuts … Read more
By Pavel Polityuk and Tom Balmforth Trump suggests the U.S. run Ukraine’s nuclear power plants Zelenskiy says leaders only discussed Zaporizhzhia plant Vast nuclear station would need years to come fully online Sources say proposal may be testing ideas as part of peace push KYIV, March 20 (Reuters) – Donald Trump’s idea of U.S. interests … Read more
(Reuters) – Oil prices rose in early Asian trading on Friday, and were set for their second consecutive weekly gains, after fresh U.S. sanctions on Iran and a new OPEC+ plan for seven members to cut output raised bets on tightening supply. Brent crude futures climbed 42 cents, or 0.6%, to $72.40 per barrel by … Read more
New solutions will support remote operations in deepwater fields Technology allows real-time response to evolving well conditions across multiple zones HOUSTON and LONDON, March 20, 2025 (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR), an energy technology company, announced Thursday a major, multi-year fully integrated completions systems contract with Petrobras. The award followed an open tender … Read more
Dubai, March 20, 2025 (GLOBE NEWSWIRE) — Vantage Drilling International Ltd. (“Vantage” or the “Company”) reported a net gain attributable to shareholders of approximately $55.5 million or $4.17 per diluted share for the three months ended December 31, 2024, based on weighted average shares outstanding, as compared to a net loss attributable to shareholders of … Read more
HOUSTON, March 19, 2025 (GLOBE NEWSWIRE) — Epsilon Energy Ltd. (“Epsilon” or the “Company”) (NASDAQ: EPSN) today reported financial results for the fourth quarter and full-year ended December 31, 2024. Full Year and Q4 2024 Highlights: Epsilon – Full Year 2024 & Q4 2024 2024 2023 Q4 2024 Q3 2024 YoY% QoQ% NRI Production Gas … Read more
Summary • Trump EPA last week rolled back dozens of regulations • EU retains stricter regulations for greenhouse gas emissions • Japan and South Korea also seek emissions data for LNG imports • Satellites still monitor emissions, even if EPA does not (Reuters) – U.S. liquefied natural gas exporters, seeking to meet standards of overseas … Read more
(Reuters) – Oil prices were little changed on Thursday, as a higher-than-expected fuel inventories drawdown in the U.S and renewed tensions in the Middle East countered strength in the dollar. Brent crude futures slipped 11 cents, or 0.16%, to $70.67 a barrel by 1038 GMT, while U.S. West Texas Intermediate crude (WTI) contract for April … Read more
By Devika Krishna Kumar and Ruth Liao Citadel made one of its biggest investments yet in the physical US natural gas market, expanding in one of its most profitable business areas. The hedge fund, led by Ken Griffin, agreed to buy assets from closely held Paloma Natural Gas LLC in a deal valued at about … Read more
(Reuters) – The U.S. Energy Information Administration on Wednesday forecast that Alaska’s annual crude oil production will increase in 2026, a first since 2017 and, if realized, the largest since 2002. The agency in its March 2025 Short-Term Energy Outlook report forecasts Alaska’s crude production to rise by “16,000 barrels per day (bbl/d) in 2026 … Read more
(Reuters) – U.S. natural gas futures jumped about 5% to a one-week high on Wednesday on record flows to liquefied natural gas (LNG) export plants and a second drop in daily output. Front-month gas futures for April delivery on the New York Mercantile Exchange rose 19.5 cents, or 4.8%, to settle at $4.247 per million … Read more
(Reuters) – U.S. President Donald Trump’s administration is set to grant Venture Global LNG conditional approval to export natural gas from a proposed Louisiana facility, which had faced delays under former President Joe Biden, Bloomberg News reported. The Energy Department is set to authorize widespread exports from the company’s CP2 project as soon as Wednesday, … Read more
(Reuters) – U.S. oil producer APA has cut nearly 300 employees globally in January and late February, Bloomberg News reported on Wednesday. The figure amounts to around 10% to 15% of APA’s workforce, the report added, citing the company’s reply to an email. Reporting by Seher Dareen in Bengaluru; Editing by Shailesh Kuber
By Julian Lee The proximity to land leaves vessels open to attack from shore-based missiles or interception by patrol boats and helicopters.Photographer: Karim Sahib/AFP/Getty Images The Strait of Hormuz, a narrow waterway at the mouth of the Persian Gulf, is rarely far from the center of global tensions. A major shipping route that handles around … Read more
Here’s how BYD’s Super e-Platform stack up against the competition Chinese automaker BYD Co. is turning heads with claims that it’s developed an electric-vehicle (EV) platform it says will enable drivers to charge an EV in roughly the same time it takes to refuel a gasoline car. From “more features for no more price” and … Read more
Greenpeace must pay a Texas-based pipeline company nearly $667 million in damages for the environmental advocacy group’s role in 2016-2017 protests against the Dakota Access Pipeline in North Dakota, a jury said Wednesday. The verdict in North Dakota state court came after two days of deliberations in a trial where pipeline company Energy Transfer accused … Read more
By Jennifer A Dlouhy and Ari Natter Backers of LNG exports argue that when gas displaces coal as a source of electricity.Photographer: Brandon Bell/Getty Images When the Biden administration stopped approving licenses to export US liquefied natural gas in January of last year, officials said they first needed to determine how those shipments would affect … Read more
(Reuters) – U.S. commercial crude oil imports fell last week by 85,000 barrels per day (bpd) to 5.4 million bpd, the lowest since March 2023, data from the U.S. Energy Information Administration showed on Wednesday. U.S. crude oil imports from top supplier Canada also fell last week to a two year low of 3.1 million … Read more
HOUSTON, March 19, 2025 (GLOBE NEWSWIRE) — Lufkin Industries (“Lufkin”), a global leader in surface production equipment and automation solutions, has announced the sale of its North America Downhole (“NAM Downhole”) business to Q2 Artificial Lift Services (“Q2”), a leading provider of downhole reciprocating pumps. This transaction aligns with Lufkin’s strategic focus on its core … Read more
(Reuters) – U.S. crude stocks rose more than expected even as gasoline and distillate inventories fell last week in a sign of sustained fuel demand, the Energy Information Administration said on Wednesday. Crude inventories rose by 1.7 million barrels to 437 million barrels in the week ended March 14, the EIA said, compared with analysts’ … Read more
(Reuters) – Vladimir Putin has edged closer to his goal of repairing Russia’s relations with the United States and driving a wedge between the U.S. and Europe, while offering only a slim contribution towards Donald Trump’s peace efforts in Ukraine. Before Tuesday’s long phone call between the two presidents, the U.S. side had said it … Read more
Oil company CEOs will meet with President Trump to express gratitude for his support of the industry, but also to caution him about potential negative consequences of his policies. Summary by Bloomberg AI The CEOs are concerned about the impact of low oil prices, trade tariffs, and potential economic declines on their businesses, despite Trump’s … Read more
Summary • Data center disconnections threaten grid stability, regulator says • Grid operators face resistance from data centers on proposals for a fix • Texas incidents highlight risks of sudden disconnections by crypto miners BOSTON, March 19 (Reuters) – Data Center Alley, a 30-square-mile stretch outside Washington D.C. and home to more than 200 data … Read more
(Reuters) – Tariff escalation and high spare capacity skew medium-term risks to Goldman Sachs’ oil price forecast to the downside, the bank said. “While we reduced our Brent forecast range by $5/bbl to $65-80, we expect oil prices to edge up in coming months, and think that market pricing of volatility and of the upside … Read more
Fossil exporters’ status will dwindle from the shift to clean power. By David Fickling The electrons coursing through our grids, turbines and engines are invisible to the human eye, but without them, all the machinery that powers our industrial economy would grind to a halt. Unseen flows of energy drive international relations, too. What’s often … Read more
March 18 (Reuters) – HSBC expects the oil market to be in a surplus in 2025 and 2026 due to strong supply and sluggish demand growth, the bank said in a note on Tuesday. The bank said that it expects a surplus of 200,000 barrels per day this year, revising its a previous forecast of … Read more
March 18 (Reuters) – Energy company NextDecade (NEXT.O) said on Tuesday that the U.S. Court of Appeals for the District of Columbia had revised its August 2024 judgment against the energy regulator’s order allowing the construction of the company’s LNG project in Texas. NextDecade’s flagship facility has been in development for several years and has … Read more
(Reuters) – Kazakhstan’s energy minister will stand down from his role, the country’s presidential office said on Tuesday, as the government struggles to convince U.S. and European oil companies to lower production that exceeds OPEC+ targets. Almasadam Satkaliyev will become the head of the country’s newly created atomic energy agency, the presidential office said in … Read more
Summary Trump to meet with top oil CEOs in closed-door meeting Industry concerned about falling oil prices, looming trade wars Meeting will mark Trump’s first sit-down with oil and gas leaders since return to White House (Reuters) – U.S. President Donald Trump will host top oil executives at the White House on Wednesday as he charts … Read more
The U.S. Energy Information Administration said on Monday that natural gas pipeline projects completed in 2024 increased the country’s liquefied natural gas (LNG) takeaway capacity by 17.8 billion cubic feet per day (bcfd). Takeaway capacity refers to the maximum amount of gas a pipeline can transport away from a production area or storage facility on … Read more
Summary • Ongoing Middle East turmoil limits oil price declines • API shows weekly US crude stocks rise, fuel inventories fall • US Fed’s interest rate verdict due later in the day (Reuters) – Oil prices edged lower on Wednesday after Russia agreed to U.S. President Donald Trump’s proposal that Moscow and Kyiv temporarily stop … Read more
Trump’s determination to make oil cheaper may have some unintended consequences for gas sales abroad. Bloomberg News Welcome to Energy Daily, Bloomberg’s guide to the commodities markets powering the global economy. Today, US reporter Ruth Liao and Asia Energy Team Leader Stephen Stapczynski look at how the White House’s “drill, baby, drill” policy may have … Read more
Partners Group Holding AG, a Switzerland-based private equity firm, agreed to acquire a portfolio of 11 natural gas power plants in California from Avenue Capital Group. The transaction — comprising the 1.9-gigawatt portfolio and Middle River Power, the operator of the plants — has an enterprise value of $2.2 billion, Partners said in a statement Tuesday. California … Read more
By Travis Fisher and Joshua L Loucks Original: https://travisfisher.substack.com/p/answering-frequently-asked-questions In the budget debate, lawmakers need an accurate score for the IRA Last week, Cato published Policy Analysis No. 992, titled “The Budgetary Cost of the Inflation Reduction Act’s Energy Subsidies: IRA Energy Tax Credits Could Cost $4.7 Trillion by 2050.” This work is significant because the … Read more
Once the United States has imposed tariffs on its major trading partners it could engage in bilateral talks with countries on new trade arrangements, Secretary of State Marco Rubio said on Sunday. U.S. President Donald Trump threatened on Thursday to slap a 200% tariff on wine, cognac and other alcohol imports from Europe, opening a … Read more
(Reuters) – The Kremlin confirmed on Monday that Russian President Vladimir Putin would talk to U.S. President Donald Trump by phone on Tuesday. Trump had said earlier that he planned to speak to Putin on Tuesday and discuss ending the war in Ukraine after what he said had been positive talks between Steve Witkoff, his … 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
China hasn’t imported liquefied natural gas (LNG) from the US for 40 days, the longest time in almost two years, due to Beijing’s 15% tariff on US LNG shipments. Summary by Bloomberg AI Chinese gas buyers are diverting US LNG shipments to Europe and looking to procure supply from Asia-Pacific or the Middle East instead, … Read more
(Reuters) – Oil prices rose more than 1% on Tuesday to their highest levels since the beginning of the month, supported by instability in the Middle East and China’s plans for more economic stimulus. Brent futures climbed 84 cents, or 1.2%, to $71.91 a barrel by 0911 GMT, while U.S. West Texas Intermediate crude futures … Read more
Industry growing uneasy about falling crude prices and tariff uncertainty Bloomberg News President Donald Trump is set to meet with top oil executives at the White House this week as he charts plans to stoke domestic energy production, even as the industry grows uneasy about falling crude prices and tariff uncertainty. The encounter is set … Read more
(Reuters) – U.S. natural gas futures eased to a two-week low on Monday on record output, negative spot prices at the Waha Hub in West Texas and forecasts for the weather to remain mild through the start of April, which should keep the amount of gas utilities pull from storage to heat homes and businesses … Read more
(Reuters) – Talks to revive the Nord Stream gas pipelines to relaunch Russian gas flows to Germany would be “completely the wrong direction” to go, Germany’s economy and energy minister said on Monday. The Nord Stream pipelines are by far the biggest potential route for Russian gas to flow to Europe. The Nord Stream 1 … Read more
Summary • Alaska wants investors for proposed $44 billion LNG pipeline • Japanese firms have yet to commit to Alaska LNG project • Trump’s Japan ambassador says he will pursue LNG commitment (Reuters) – Alaskan state representatives will visit Japan this month to court investors for a natural gas project President Donald Trump says could … Read more
‘We’re Texas-sized as far as gas goes; we’ve got some big numbers’ — Alberta Energy Minister Brian Jean Meghan Potkins Originally Published in Financial Post Here Alberta’s proven natural gas reserves have increased nearly sixfold to 130 trillion cubic feet since they were last assessed, according to a new study, giving Canada’s oilpatch leaders something … Read more
EV maker signals concern over potential retaliatory moves by other countries as a trade war escalates Bloomberg News Tesla Inc. is signalling concern over potential retaliatory moves by other countries as a trade war escalates in the wake of President Donald Trump’s moves to impose tariffs on a wide range of imports. The electric-car maker … 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
Summary • US vows to hit Houthis until shipping attacks stop • China retail sales pick up • Trump says he will speak to Putin on Tuesday about Ukraine war (Reuters) – Oil traded higher on Monday after the United States vowed to keep attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on … 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) – 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
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
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
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
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
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
(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
U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row to the highest level since June, 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 four to 592 in … Read more
Summary • Brent and WTI post weekly decline • Analysts point to media reports on new coronavirus discovery • Analysts view fading risk premium as Gaza ceasefire holds • US crude stocks rose, gasoline and distillates decline, EIA • U.S. energy firms add oil and natural gas rigs, Baker Hughes Kazakh oil output at record … Read more
Travis D. Stice to step down as Chief Executive Officer, effective as of the Company’s 2025 Annual Meeting of Stockholders; will remain as Executive Chairman through the Company’s 2026 Annual Meeting of Stockholders Kaes Van’t Hof, current President, will assume Chief Executive Officer role and will join the Board of Directors effective as of the … Read more
Top U.S. refiners are poised to seek alternative sources for heavy, sour crudes, including running more domestic grades, as they await clarity around U.S. President Donald Trump’s threatened tariffs on imports from the nation’s top crude suppliers Canada and Mexico, executives said. Running more domestic crude, which is predominantly light, sweet shale oil, through U.S. … Read more
By Valerie Volcovici WASHINGTON, Feb 20 (Reuters) – The U.S. Army Corps of Engineers on Thursday said it is revising a list of more than 600 energy and other infrastructure projects it had earmarked to be fast-tracked under President Donald Trump’s declaration of a national energy emergency. The Army Corps, a federal engineering service with … Read more
(Reuters) – U.S. crude oil stockpiles rose while gasoline and distillate inventories fell last week as seasonal maintenance at refineries led to lower processing, the Energy Information Administration said on Thursday. Crude inventories rose by 4.6 million barrels to 432.5 million barrels in the week ended February 14, the EIA said, compared with analysts’ expectations … Read more
Guyana has previously been more focused on oil production Fertilizer, alumina, data centers all potential uses of gas By Denis Chabrol Exxon Mobil Corp. outlined plans to increase natural gas production from oil-focused Guyana and is considering options to export the fuel to global markets, country manager Alistair Routledge said Wednesday. Exxon’s developments off the … Read more
Summary • Brent and WTI up 1.5% over the week • US crude stocks rose, gasoline and distillates decline -EIA • Kazakhstan pumped record high oil volumes -industry sources Feb 21 (Reuters) – Oil prices fell on Friday but were still poised for a weekly gain on supply disruption in Russia while uncertainty looms over … Read more
Cheniere wants to take advantage of Trump’s support for LNG Expects to produce up to 90 MTPA of superchilled gas Company’s profits in 2024 fell due to lower LNG prices Feb 20 (Reuters) – U.S. liquefied natural gas exporter Cheniere Energy (LNG.N) plans to aggressively pursue new regulatory permits to expand capacity now that U.S. … Read more
Utility says looser rules to spur new plants, pipelines Firm beats 4Q profit estimates, sees data center demand growth By Mark Chediak President Donald Trump’s drive to loosen permitting requirements and speed up the development of energy resources will allow for Southern Co. to expand its natural gas pipeline network and build new gas plants, … Read more
Cenovus Energy’s Q4 profit falls due to lower prices, weak refining margins Cenovus’ U.S. refining revenues drop amid required turnaround work Canadian energy sector faces uncertainty with U.S. tariffs on imports Feb 20 (Reuters) – Canadian oil and gas producer Cenovus Energy (CVE.TO) anticipates a return this spring to more normal market conditions in the … Read more
Russia and the United States have had their first meeting since the start of the Ukraine war, aimed at restoring relations and preparing the ground for ending the conflict. What is known so far about what was discussed? UKRAINE WAR U.S. President Donald Trump says he wants to quickly end the war. President Vladimir Putin … Read more
(Reuters) – Oil transportation and storage company Sentinel Midstream expects to make a final investment decision on its deepwater oil export project off the Texas coast as soon as it receives a U.S. government license, CEO Jeff Ballard told Reuters. The move comes as U.S. President Donald Trump pushes for faster approvals of projects that … Read more
North Dakota oil production was estimated to be down between 130,000 and 160,000 barrels per day (bpd) as of Thursday morning due to the recent extreme cold and related operational challenges, the state’s pipeline authority said. Associated wellhead natural gas production was estimated to be down 0.37-0.45 billion cubic feet per day, said Justin Kringstad, … Read more
U.S. President Donald Trump on Wednesday said he is going to work with Republicans in Congress to significantly reduce taxes for individuals and companies. “We’re going to dramatically cut taxes for families and for workers and for companies, including no tax on tips and hopefully no tax on Social Security and no tax on overtime,” … Read more
Japan Petroleum Exploration (Japex) is prioritising investment in oil and gas exploration and production (E&P) through 2030 – revising an earlier plan to aggressively expand its renewables businesses, its president said. “For now, the investment focus will remain on oil and gas exploration and production… as securing a fair return from renewable energy sources such … Read more
U.S. President Donald Trump said on Wednesday his administration would quickly fill up the Strategic Petroleum Reserve, which he criticized his predecessor, former President Joe Biden, for tapping to bring down the price of gasoline.“We’ll fill it up fast,” Trump told a conference in Miami.
BEIJING, Feb 19 (Reuters) – China invested 6.8 trillion yuan ($940 billion) in clean energy in 2024, approaching the $1.12 trillion in global investment in fossil fuels, according to a new analysis for U.K.-based research organisation Carbon Brief. That was despite growth in China’s clean energy investments slowing to 7% from 40% in 2023 amid … Read more
(Reuters) – Oil prices were little changed on Thursday after rising to a near one-week high in the previous session, as an industry report showing a buildup in U.S. crude stockpiles pressured the market. Brent futures were up 34 cents, or 0.5%, at $76.38 a barrel by 1407 GMT. U.S. West Texas Intermediate crude rose … Read more
MOSCOW, Feb 19 (Reuters) – Russian President Vladimir Putin suggested on Wednesday that a Ukrainian drone attack on the Caspian Pipeline Consortium (CPC) pumping station in southern Russia might have been coordinated with its Western allies. Putin said that he believed Ukraine could not have organised such an attack on its own and was likely … Read more
U.S. natural gas futures jumped about 6% to a one-month high on Wednesday as extreme cold in some parts of the country boosted demand for the fuel for heating and cut output by freezing oil and gas wells. Traders noted prices also gained support as gas flows to liquefied natural gas (LNG) export plants hit … Read more
Two large earthquakes that hit the Permian basin, the top U.S. oilfield, this week have rattled the Texas oil industry and put a fresh spotlight on the water disposal practices that can lead to increases in seismic activity, industry consultants said on Tuesday. A magnitude 5.0 quake struck on Feb. 14, followed by a magnitude … Read more
ANKARA, Feb 19 (Reuters) – Turkey has yet to receive confirmation from Iraq on the resumption of oil flows through the Iraq-Turkey pipeline, Turkish Energy Minister Alparslan Bayraktar told Reuters on Wednesday. Iraq’s oil minister said on Monday that oil exports from the semi-autonomous Kurdistan region will resume next week, resolving a near two-year dispute … Read more
(Reuters) – During an internal town hall meeting last week, roughly 40,000 Chevron employees were shown a video touting the oil giant’s success in Colorado as the largest oil and gas producer in the state. Less than 30 minutes later, executives announced plans to cut up to 20% of the global workforce. Despite progress in … Read more
(Reuters) – U.S. natural gas futures jumped about 6% to a one-month high on Wednesday as extreme cold in some parts of the country boosted demand for the fuel for heating and cut output by freezing oil and gas wells. Traders noted prices also gained support as gas flows to liquefied natural gas (LNG) export … Read more
(Reuters) – U.S. natural gas futures jumped about 8% on Tuesday to a three-week high, as extreme cold in some parts of the country cut output by freezing oil and gas wells, while gas flows to liquefied natural gas (LNG) export plants reached records and forecasters predicted more cold weather and higher heating demand over … Read more
By Ernest Scheyder and Sheila Dang Chevron plans to cut up to 20% of global workforce Executives say business has become overcomplicated, costs rising Some employees say layoffs were expected HOUSTON, Feb 18 (Reuters) – During an internal town hall meeting last week, roughly 40,000 Chevron employees were shown a video touting the oil giant’s … Read more
(Reuters) – The North Dakota Pipeline Authority said oil production was estimated to be down between 120,000 and 150,000 barrels of oil per day, as of Tuesday morning, due to the recent extreme cold and related operations challenges. North Dakota is the third-largest oil-producing state in the United States. Associated wellhead natural gas production was … Read more
(Reuters) – Oil prices edged up on Wednesday, buoyed by concern over oil supply disruptions in Russia and the U.S. while the market awaits clarity on sanctions as the U.S. attempts to broker a deal to end the war in Ukraine. Brent crude futures were up 61 cents, or 0.8%, at $76.45 a barrel by … Read more
(Reuters) – Oil and gas company Diamondback Energy said on Tuesday it would buy certain units of EnCap-backed energy producer Double Eagle in a cash-and-stock deal for about $4.08 billion. The deal would give Diamondback access to about 40,000 net acres in the core of Midland Basin, one of the last large assets in the Permian … Read more
BRASILIA, Brazil (AP) — Brazil’s government on Tuesday approved joining OPEC+, a group of major oil-exporting nations, signaling the country’s evolution into a major oil state just nine months ahead of hosting the United Nations’ annual climate summit. The National Council for Energy Policy’s approval came in response to an official invitation in 2023. The … Read more
Three years after it shipped its first LNG cargo, and after a two-year dispute with its customers, Venture Global LNG will begin commercial operations at its Calcasieu Pass plant in Louisiana on April 15, the company said on Monday. Long-term customers including Shell and BP have been notified of the start of commercial operations, the company said. … Read more
** RBC and J.P.Morgan start coverage on U.S. liquefied natural gas (LNG) company Venture Global with a bullish rating ** JPM starts coverage with “overweight” rating and $25 PT; RBC starts coverage with “outperform” and $20 PT ** Shares of VG up at 1.88% at $16.26 premarket ** Both brokerages began coverage following the expiry … Read more
MIDLAND, Texas, Feb. 18, 2025 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or “the Company”) today announced that it has entered into a definitive purchase agreement to acquire certain subsidiaries of Double Eagle IV Midco, LLC (“Double Eagle”) in exchange for approximately 6.9 million shares of Diamondback common stock and $3 billion of … Read more
Oil producer group OPEC+ is considering pushing back a series of monthly supply increases due to begin in April despite calls from U.S. President Donald Trump to lower prices, Bloomberg News reported on Monday citing delegates.Global oil markets remain too fragile to revive production now, the report cited one delegate as saying, adding that another … Read more
U.S. Energy Secretary Chris Wright on Monday called a pledge to achieve net zero carbon emissions by 2050 a “sinister goal”, and criticized the British government’s attempts to hit clean energy targets. Former President Joe Biden set a target in 2021 for the United States to achieve net-zero emissions by 2050 to help fight climate … Read more
By Tanay Dhumal Feb 18 (Reuters) – Occidental Petroleum (OXY.N) said on Tuesday that it had struck two deals in the current quarter to divest some upstream assets to undisclosed buyers for a total of $1.2 billion, although its current-quarter production forecast fell short of expectations. The transactions, which include Rockies non-operated assets and Permian … Read more
By Jarrett Renshaw and Timothy Gardner (Reuters) – President Donald Trump’s administration said on Friday it has granted a liquefied natural gas export license to Commonwealth LNG in Louisiana, the first approval of exports of the resource after former President Joe Biden paused them early last year. The exports are approved to markets in Asia … Read more
By Timothy Gardner and Valerie Volcovici Layoffs hit nuclear offices in security and Cold War cleanup Some NNSA firings were rescinded, essentials can stay -source Loan Programs Office loses 45 workers, grid office 18 DOE has about 14,000 employees, 95,000 contractors WASHINGTON, Feb 14 (Reuters) – The administration of U.S. President Donald Trump has laid … Read more
Summary Kazakhstan transit volumes could drop by 30%, says Transneft Investors watch for progress in Ukraine-Russia peace talks OPEC+ output plans also in focus (Reuters) – Oil extended gains on Tuesday after a drone attack on an oil pipeline pumping station in Russia reduced flows from Kazakhstan, though prices were kept in check by the prospect of … Read more
U.S. Energy Secretary Chris Wright said on Monday his top priority was for the government to “get out of the way” of the production of oil, gas and coal, adding that a number of approvals for gas projects were in the queue. “Number one (focus) is get out of the way of the production, export … Read more
The scrum to replace Russian supply is sparking bumper premiums for Middle Eastern crude. Bloomberg News Right now in the crude market there are two contrasting stories. For the grades that underpin Brent and West Texas Intermediate futures, things aren’t looking great. Refineries in Europe and the US are entering an annual period of maintenance that acts … Read more
President Donald Trump vowed to complete the long-stalled Constitution Pipeline that would transport natural gas to New York, saying it could slash energy prices in northeastern US states by as much as 70%. “We are going to get this done, and once we start construction, we’re looking at anywhere from nine to 12 months, if you … Read more
Ultra-rich families are flocking to the industry, lured by more stable returns after years of boom-and-bust cycles. Oil rigs in the Permian Basin. Photographer: Sergio Flores/Bloomberg By David Wethe and Benjamin Stupples Once a relatively rare presence in the US oil industry, firms overseeing the assets of ultra-rich families — including the billionaire dynasties of … Read more
By Stephanie Kelly NEW YORK, Feb 13 (Reuters) – U.S. senators reintroduced a bipartisan bill on Thursday that would allow nationwide sales of gasoline with a higher blend of ethanol year-round, a plan that has the support of a leading oil trade group. Senator Deb Fischer, a Republican from Nebraska, introduced the bill with senators … Read more
Tarco Consulting Inc. and MDS Aero Support Corporation have combined their strengths to deliver life-extending turnkey solutions for industrial gas turbine operators. This collaboration addresses key concerns such as age-related degradation, obsolescence, and the growing need for modernization, all while providing advanced solutions to improve the efficiency and reliability of critical equipment. The energy industry … Read more
In the dynamic world of energy production, staying ahead of evolving market needs while maintaining North American Energy Standards Board [NAESB], The Federal Energy Regulatory Commission [FERC], and Canada Energy Regulator [CER] regulatory compliance can be a challenge for pipeline operators. Here are some common hurdles: Regulatory Complexity: The energy sector is heavily regulated, with … Read more
Summary • Benchmarks Brent, WTI flat • CPC oil flows reduced due to drone attack • Peace talks with Russia could impact oil supply • Dollar near two-month low after weak U.S. retail data (Reuters) – Oil prices were little changed Monday, as investors eyed developments on a potential Russia-Ukraine peace deal that could ease … 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 December 2023, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by two … Read more
• US reciprocal tariff recommendations expected in April • Ukraine peace talks could pave way for Russia sanctions easing • US can apply maximum economic pressure on Iran, Treasury Secretary says • US oil and natural gas rig count rose for a third week in a row NEW YORK, Feb 14 (Reuters) – Oil prices … Read more
HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) (the “Company”) announced today that the Company has received exemptive relief from the applicable Canadian securities regulatory authorities regarding future filing requirements. The Company became a reporting issuer for Canadian securities law purposes by virtue of the acquisition of Marathon Oil Corporation in November 2024, which made the Company subject to Canadian continuous disclosure … Read more
Company drops reference to emissions goals in earnings release Demand for electricity is surging on data centers, AI boom Duke Energy Corp., one of the biggest US power providers, removed a mention of climate targets in its latest earnings release as the company builds more natural gas plants and reconsiders its coal plans. Duke said … Read more
(Reuters) – Oilfield services provider SLB has named new chief strategy and performance officers, according to a company memo seen by Reuters, the latest steps in a larger reorganization of its global structure. Aparna Raman has been appointed chief strategy and marketing officer, the memo said, effective March 1. Raman was most recently president of … Read more
(Reuters) – Exports of Russia’s liquefied natural gas (LNG) will likely not exceed 67 million metric tons by 2030, falling far short of its 100 million target due to international sanctions, experts said at an industry conference on Friday. Russia has focused on development of LNG, which could be delivered by sea tankers, as its … Read more
(Reuters) – Diamondback Energy is in talks to buy EnCap-backed Double Eagle, a big West Texas energy producer, for more than $5 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter. Last year, Reuters reported that Double Eagle was exploring a sale of its Permian Basin-based producer in a deal … Read more
Enbridge Inc. reported a profit attributable to common shareholders of $493 million in its fourth quarter, down from $1.73 billion a year earlier. The pipeline company says the profit amounted to 23 cents per share for the quarter ended Dec. 31, down from 81 cents per share in the last three months of 2023. On … Read more
Tightened U.S. sanctions on Moscow have disrupted a roaring trade in discounted Russian oil to China and India, reviving demand for Middle Eastern and African crudes, roiling shipping markets and driving up oil prices. Washington’s January 10 sanctions targeted tankers carrying Russian oil in a push to more effectively limit Moscow’s oil revenue, the aim … Read more
Russia will be “reintegrated” into the world economy and the European energy system once a peace deal is achieved and the war ends in Ukraine, Prime Minister Viktor Orban told state radio on Friday. “If the U.S. president comes and creates peace, there is a deal, I think Russia will be reintegrated into the world … Read more
(Reuters) – U.S. natural gas futures climbed about 4% to a two-week high on Thursday on rising flows to liquefied natural gas (LNG) export plants, a drop in daily output and forecasts for cold weather and higher demand over the next two weeks than previously expected. Prices rose despite forecasts for the return of mild … Read more
President Donald Trump said on Thursday the U.S. and India have struck an agreement that includes India importing more U.S. oil and gas to shrink the trade deficit between the two countries. Trump made the comments after a bilateral meeting at the White House with India’s Prime Minister Narendra Modi. (Reporting By Jarrett Renshaw; Editing … Read more
More fuel in the market seen moderating sky-high prices The company will revive effort to invest in a US export plant By Stephen Stapczynski and Rakesh Sharma Gail India Ltd., one of the country’s top liquefied natural gas buyers, expects US President Donald Trump’s goal of increasing energy production to make fuel imports more viable … Read more
Summary • US reciprocal tariff recommendations expected in April • Ukraine peace talks could pave way for Russia sanctions easing • Global oil demand on the rise, says JP Morgan LONDON, Feb 14 (Reuters) – Oil prices rose on Friday and were poised to end three weeks of decline, buoyed by rising fuel demand and … Read more
By Antony Currie MELBOURNE, Feb 13 (Reuters Breakingviews) – U.S. President Donald Trump says trade wars are easy to win. If so, his 25% tariffs on steel and aluminium imports ought to have big overseas producers like Rio Tinto (RIO.L), (RIO.AX) begging for mercy. Yet shareholders in the $107 billion miner and rivals like BHP … Read more
Feb 13 (Reuters) – PG&E Corp (PCG.N), opens new tab on Thursday raised its adjusted core earnings forecast for 2025, as the power company benefits from lower operating expenses and higher electricity rates. Last month, the California Public Utilities Commission approved another request from the company to raise electricity prices after a series of similar … Read more
Major U.S. electric utility Exelon increased its four-year capital investment plan by 10% to $38 billion, with the bulk of the spending aimed at bolstering and building new transmission lines, executives said on an earnings call on Wednesday. Many U.S. power companies have revised up capex plans over the past year as the proliferation of … Read more
CALGARY, Alberta, Feb. 12, 2025 (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 news release. … Read more
HOUSTON, Feb 12 (Reuters) – Chevron (CVX.N), opens new tab will lay off 15% to 20% of its global workforce by the end of 2026, the U.S. oil company said on Wednesday as it seeks to cut costs, simplify its business, and complete a major acquisition. The No. 2 U.S. oil producer has faced production … Read more
MILAN, Feb 12 (Reuters) – Global demand for liquefied natural gas will see a robust rise in the next few years, while gas will likely see a more gradual dynamic and oil may peak at the beginning of the next decade, scenarios published by Shell (SHEL.L), opens new tab showed on Wednesday. The British energy … Read more
(Reuters) – U.S. crude oil inventories rose last week as refinery maintenance continued, while gasoline stockpiles posted a surprise draw, the Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 4.1 million barrels to 427.9 million barrels in the week ended February 7, the EIA said, compared with analysts’ expectations in a Reuters … Read more
North Dakota oil output fell by an estimated 60,000-90,000 barrels per day on Tuesday due to frigid temperatures and related operational challenges, the state pipeline regulator said in a statement. North Dakota is the third-largest oil-producing state in the country, with November output totaling some 1.221 million bpd, according to the latest data from the … Read more
Summary • Researcher now expects 25 gw of offshore wind by 2030, not 30 gw • Ship builders, steelmakers hit as industry needs fewer vessels • Italy’s Prysmian drops plan for Massachusetts cable factory • GE Vernova scraps deal to make bigger turbine near Albany, NY (Reuters) – Companies that committed to investments in U.S. … Read more
(Reuters) – Russia may be forced to throttle back its oil output in the coming months as U.S. sanctions hamper its access to tankers to sail to Asia and Ukrainian drone attacks hobble its refineries. The United States imposed sanctions last month that targeted 180 Russian tankers while Kyiv has stepped up drone attacks to … Read more
(Reuters) – Oil prices fell more than 1% on Thursday as a potential peace deal between Russia and Ukraine continued to exert downward pressure, along with rising crude inventories in the United States. Brent futures were down $1.04 or 1.4%, at $74.14 a barrel by 1303 GMT while U.S. West Texas Intermediate (WTI) crude dropped … Read more
When Elliott Investment Management buys into a company to agitate for change, bankers and lawyers who have faced the hedge fund say executives can expect a strong view on their shortcomings, backed by meticulous research and financial firepower. Now, storied oil giant BP is in Elliott’s sights. The investment firm, which manages $70 billion, has … Read more
Activist investor Elliott Management has disclosed a near 5% stake of about 3.8 billion pounds ($4.75 billion) in BP, making it the oil company’s third-largest shareholder, the Financial Times reported on Thursday, citing people close to the matter. Elliott is trying to push the British oil company to cut spending on renewables and make big … Read more
(Reuters) – Ukraine called on its allies on Wednesday to help it import more natural gas as it moved to increase gas imports by a third to 22.6 million cubic meters following a series of Russian missile attacks on Ukrainian gas facilities. The call came after natural gas production sites owned by Ukraine’s state-run energy … Read more
(Reuters) – OPEC on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2025, saying air and road travel would support consumption and potential trade tariffs were not expected to impact economic growth. The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise … Read more
(Reuters) – Mexico plans to boost its crude oil reserves to ensure it has enough for at least a decade of consumption, the chief executive officer of state energy company Pemex, Victor Rodriguez, said on Wednesday. Pemex has 12 strategic projects that will account for 61% of this hydrocarbon production, Rodriguez added. Speaking alongside Mexican … Read more
By Tom Balmforth U.S. treasury secretary is first Trump official in Kyiv Talks to broach deal on minerals, energy, state firms Ukraine wants to win Trump’s backing for war’s endgame Three-year-old war entering fraught diplomatic phase KYIV, Feb 12 (Reuters) – U.S. Treasury Secretary Scott Bessent visited Kyiv on Wednesday to discuss a critical minerals … Read more
(Reuters) – India’s natural gas consumption is set to jump 60% between 2023 and 2030, doubling the country’s need for liquefied natural gas imports, as domestic output is expected to grow much more slowly than demand, the International Energy Agency said on Tuesday. Rapid urbanisation and industrialisation are set to transform the energy market in … Read more
(Reuters) – Japan’s top power generator JERA expects competition for U.S. liquefied natural gas (LNG) to increase as demand from Asia and Europe rises, its CEO said on Wednesday. “There are many potential buyers. Asian and European buyers are really interested in U.S. energy. So, there are many competitors,” JERA Asia CEO Izumi Kai told … Read more
EIA discrepancy could impact production forecasts and capital efficiency CALGARY, Alberta (Feb. 12, 2025) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, is releasing a report that analyzes recent inventories of drilling uncompleted wells (DUCs) and the implications for 2025 budgets. … Read more
(Reuters) – U.S. power consumption will rise to record highs in 2025 and 2026, the U.S. Energy Information Administration said in its Short Term Energy Outlook on Tuesday. With growing demand from data centers dedicated to artificial intelligence and cryptocurrency and with homes and businesses using more electricity for heat and transportation, EIA projected power … Read more
(Reuters) – U.S. oil production is poised to set a larger record this year than prior estimates, the U.S. Energy Information Administration (EIA) said on Tuesday in its Short-Term Energy Outlook report. U.S. President Donald Trump has vowed to maximize U.S. oil production even as energy executives have held steadfast on prioritizing capital discipline over … Read more
(Reuters) – U.S. natural gas output and demand will both rise to record highs in 2025, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO) on Tuesday. EIA projected dry gas production will rise from 103.1 billion cubic feet per day (bcfd) in 2024 to 104.6 bcfd in 2025 and 107.3 … Read more
Summary • Brent, WTI futures both fall • U.S. crude stockpiles rise by 9.4 million barrels, sources cite API data • Fed’s Powell signals slower rate cuts (Reuters) – Oil prices fell 1% on Wednesday, ending three days of gains, as industry sources pointed to rising U.S. crude stockpiles and hawkish remarks from Fed Chair … Read more
(Reuters) – Top oilfield services provider SLB is reorganizing certain functions within its business and continuing to reduce its workforce, according to a source familiar with the matter and an internal email seen by Reuters. As part of its reorganization, SLB will create a new performance function, led by a new chief performance officer, it … Read more
Summary • Chevron’s reserve replacement ratio declines to 45%, raising investor concerns • Hess acquisition would boost Chevron’s prospects with Guyana oilfield stake • Exxon and CNOOC challenged Chevron’s bid for Hess in court (Reuters) – Chevron’s oil and gas reserves have fallen to the lowest point in at least a decade, highlighting the importance … Read more
– Fiscal Q2 Production Up 10% Y/Y to 6,935 Average BOEPD – – Declares Quarterly Dividend of $0.12 for Fiscal Third Quarter 2025 – HOUSTON, Feb. 11, 2025 (GLOBE NEWSWIRE) — Evolution Petroleum Corporation (NYSE American: EPM) (“Evolution” or the “Company”) today announced its financial and operating results for its fiscal second quarter ended December … Read more
Katy, Texas, Feb. 11, 2025 (GLOBE NEWSWIRE) — CW Petroleum Corp (OTCQB: CWPE) (the “Company”), a leading provider of Specialty Renewable and Hydrocarbon Motor Fuels, today announces to its investors and future investors unaudited financial results for the fourth quarter ended December 31, 2024, Year-End 2024. Key Financial Highlights for Three Months Ended December 31, … Read more
Fuel supply agreement strengthens reliability, lowers costs, and powers growth THE WOODLANDS, Texas, Feb. 11, 2025 /PRNewswire/ — Entergy Texas reached a landmark transportation agreement with Kinder Morgan to secure natural gas supply, supporting the rapid industrial, commercial and residential growth in the region. The arrangement, which was developed in collaboration with Golden Pass LNG, is … Read more
(Reuters) – Texas oil, gas and industrial groups on Tuesday asked the new EPA administrator to speed up Texas’ request to approve carbon capture and storage projects instead of the federal government, to help boost private investment and unleash capture technology. The six groups, including the Texas Oil and Gas Association and the Texas Association … Read more
By Arunima Kumar BP’s annual profit drops to $8.9 bln Elliott’s stake raises pressure for board and strategy changes Q4 profit fell 61%, weakest since 2020 Lower refining margins hit Q4; weak margins expected ahead Feb 11 (Reuters) – BP (BP.L), opens new tab CEO Murray Auchincloss pledged on Tuesday to fundamentally reset the company’s … Read more
Activist Elliott Investment Management has built an over $2.5 billion stake in U.S. oil refiner Phillips 66 and plans to push for operational changes to boost its stock price, the Wall Street Journal reported on Monday. Elliott plans to push Phillips 66 to sell or spin off its big midstream business as it plans to … Read more
At least six Asian economies have expressed interest in buying liquefied natural gas (LNG) to narrow their trade deficit with the United States and fend off tariffs, while others look to expand and diversify supplies. Companies in the U.S., the world’s largest exporter of LNG, are pushing ahead with projects for new or expanded export … Read more
ChampionX expects new U.S. import tariffs on steel and aluminium to drive up equipment costs for oilfield service firms, a company official said on Tuesday. U.S. President Donald Trump raised tariffs on steel and aluminium imports on Monday to a flat 25% “without exceptions or exemptions” in a move he hopes will aid the struggling … Read more
(Reuters) – The United States saw the fourth-largest weekly withdrawal from natural gas storage during mid-January as colder-than-normal temperatures boosted consumption, the U.S. Energy Information Administration (EIA) said on Monday. During the week ending January 24, 2025, stocks fell by 321 billion cubic feet (bcf), which was nearly 70% more than the five-year (2020–24) average … Read more
By Bloomberg News As he tries to reshape US trade ties with the rest of the world, President Donald Trump has unveiled a new tariff threat: He’s pledged to impose a 25% levy on US imports of steel and aluminum, which were valued at almost $50 billion in 2024. While the move is aimed at strengthening domestic … Read more
(Reuters) – U.S. President Donald Trump said on Sunday he will introduce 25% tariffs on all steel and aluminum imports into the United States, on top of existing metals duties, in another major escalation of his trade policy overhaul. Here’s a summary of the major trade partners it will affect. Steel Roughly a quarter of all … Read more
Summary • Brent, WTI up 0.7% after near 2% rise in prior session • Trump imposes 25% import tariffs on steel, aluminium • Fed to wait until next quarter before rate cut, per Reuters poll LONDON, Feb 11 (Reuters) – Oil prices extended gains on Tuesday amid concerns over Russian and Iranian oil supply and … Read more
Oasis Pipeline will provide gas to CloudBurst Texas campus It’s the pipeline company’s first direct-supply deal in AI Pipeline operator Energy Transfer LP will provide natural gas directly to CloudBurst Data Centers, Inc. as companies prepare for an expected boom in power demand from artificial intelligence. Energy Transfer’s Oasis Pipeline, LP, will provide as much as 450,000 million … Read more
(Reuters) – Decisions made by oil producer group OPEC take a long-term view of the global markets and are aimed at providing price stability, Secretary General Haitham Al Ghais said at the India Energy Week conference on Tuesday. The comments came after U.S. President Donald Trump repeatedly called on the producer group to increase oil … Read more
LNG company’s trading debut flopped despite coming on the heels of the president’s return to power. Bloomberg News Venture Global Inc.’s belly flop of an IPO isn’t just a setback for the liquefied natural gas-exporting upstart. It may be an early indication of the limits of Wall Street’s enthusiasm for President Donald Trump’s grand energy ambitions. … Read more
Reducing crude output has the potential to inflict real pain on US refiners and consumers. 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. Canada is in that awkward position where a … Read more
Developers fear the US president may seek to block solar and wind projects. Renewable-energy developers knew US President Donald Trump preferred oil and gas to solar and wind — and long opposed offshore turbines. But they were hoping he wouldn’t throw roadblocks in front of other clean-power projects. After the last week, they’re not so … Read more
HOUSTON, Feb. 07, 2025 (GLOBE NEWSWIRE) — Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) today reported fourth-quarter and full-year 2024 results, announced 2025 guidance and provided the following highlights: 2024 Results Fourth-quarter and full-year 2024 Net income attributable to PAA of $36 million and $772 million, respectively, and 2024 Net … Read more
China’s top economic planning agency said on Sunday it was taking steps to scale back subsidies for renewable energy projects after a boom in solar and wind power installations. China broke its own records for new solar installations in 2024 with installed capacity up 45% from the previous year. China now has almost 887 GW … Read more
Heavy Industrial Traffic Damages Roadway In Cold Lake, Alberta, a project site experienced extremely heavy industrial traffic, with 1,200 to 1,500 40-kip axle loads daily. The project owner initially applied a 4-inch (10 cm) lift of cold mix over a prepared subgrade to address persistent maintenance challenges. The cold mix was intended to reduce dust … Read more
Lyondell Basell Industries completed the final shutdown of its 263,776 barrel-per-day Houston refinery, people familiar with plant operations said on Friday. Lyondell began the previously announced shutdown of the refinery on January 27. Lyondell, in an emailed statement on Friday night, declined to discuss the status of the refinery. Some units at the refinery are … Read more
Activist investor Elliott Investment Management has built a stake in oil major BP, a source familiar with the matter told Reuters on Saturday. The source did not provide the size of the stake. U.S.-based Elliott is seeking to boost shareholder value by urging BP to consider transformative measures, Bloomberg News reported earlier on Saturday, calling … Read more
Summary • Trump to announce 25% steel and aluminium tariffs on Monday • China responds with retaliatory tariffs on some US exports • Trump holds talks with Putin to end Ukraine war LONDON, Feb 10 (Reuters) – Oil prices rebounded on Monday despite lingering fears over a potential global trade war after U.S. President Donald … Read more
** Bernstein sees a very modest pullback of nearly $5 billion in upstream capex in 2025 ** “We see an upstream sector that returns a bit over half its cash flow while investing a bit under half” – brokerage ** Bernstein says that the supply side has reallocated capital toward downstream, renewables, trading, and cash … Read more
By Tom Balmforth and Olena Harmash ‘Let’s do a deal,’ says Zelenskiy to Trump, offering rare earths Summary • In interview, Ukraine’s Zelenskiy offers mineral partnership to US • Zelenskiy emphasizes need for security guarantees in any deal • Ukrainian president keen to speak to Trump before Putin does Ukraine proposes using its gas storage … Read more
Gas will be stored on coast before being pumped below seabed Technology to trap and bury CO2 remains complex and costly The first ship in a 30 billion-kroner ($2.7 billion) plan to store emissions under the North Sea arrived in Norway as the country seeks to transform nascent carbon-capture technology into a commercial business. The Northern … Read more
From Panama to Canada to China and Europe to India, the US president spreads fear and loathing but wins lots of concessions. By Howard Chua-Eoan Howard Chua-Eoan is a columnist for Bloomberg Opinion covering culture and business. He previously served as Bloomberg Opinion’s international editor and is a former news director at Time magazine. Is … Read more
Trump says Japan will import American gas in ‘record numbers’ Trump, Ishiba meeting aimed at bolstering economic ties Bloomberg News President Donald Trump said that the US and Japan are discussing a pipeline project in Alaska after meeting with the country’s prime minister, Shigeru Ishiba. “We’re talking about a joint venture of some type between Japan and US, … Read more
Large US producers have moved to purchase competitors Energy investors have ‘lost a ton of names’ in past 18 months After a burst of oil and gas M&A deals, demand for new investment targets and buoyant natural-gas prices are helping drive a rebound in IPO activity in the energy industry to start 2025. The largest … 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 July 2024, 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 four … Read more
Summary • Prices supported by new US sanctions on Iran crude exports • Offset by fears that trade tensions will hit demand • Trump also repeating pledge to increase US oil production (Reuters) – Oil prices finished with daily gains on Friday after new sanctions were imposed on Iran’s crude exports but prices were down … Read more
(Reuters) – Prime Minister Justin Trudeau on Friday said U.S. President Donald Trump’s talk about absorbing Canada “is a real thing” and is linked to the country’s rich natural resources, a government source said. Trudeau made the remarks during a closed-door session of business and labor leaders on how best to respond to Trump’s threats … Read more
(Reuters) – Venezuela’s state oil company PDVSA has resumed regular imports of light crude as its own output of medium and light grades dwindles, creating bottlenecks for producing exportable blends, according to company documents and vessel tracking data. U.S.-sanctioned Venezuela and Iran had a swap agreement that allowed PDVSA to import crude and condensate between … Read more
• Chevron expected full capacity of Tengiz expansion by June • Output at Tengiz jumped to 900,000 bpd in early February – data • Kazakhstan frequently overproduces under OPEC+ deal (Reuters) – Chevron is speeding up its expansion of Kazakhstan’s Tengiz oilfield, two sources familiar with the plans told Reuters, raising its output to around … Read more
(Reuters) – Buyout firm TPG’s climate investment arm will acquire Altus Power in an all-cash deal worth $2.2 billion, including the assumption of debt, the companies said in a statement on Thursday. The announcement, confirming a Reuters report from December that TPG Rise Climate was in talks to acquire Altus, sent shares in the company … Read more
(Reuters) – ConocoPhillips beat Wall Street estimates for fourth-quarter profit on Thursday, as higher production offset lower realized prices. Benchmark crude prices rose about 4% during the October-December quarter, encouraging companies to drill more. However, ConocoPhillips’ total average realized prices fell 10% to $52.37 per barrel of oil equivalent (boe) in the reported quarter. The … Read more
(Reuters) – U.S. crude oil inventories rose sharply last week as demand softened on ongoing refinery maintenance, the Energy Information Administration (EIA) said on Wednesday. Gasoline stockpiles also rose more than expected, while distillate inventories declined. Crude inventories were up by 8.7 million barrels to 423.8 million barrels in the week ended Jan. 31, the … Read more
(Reuters) – Oil and gas traders are likely to seek waivers from Beijing over tariffs that the Chinese government plans to impose on U.S. crude and liquefied natural gas (LNG) imports from February 10, trade sources said on Thursday. Shortly after tariffs on China imposed by U.S. President Donald Trump took effect on Tuesday, China’s … Read more
(Reuters) – TotalEnergies rejected opportunities to become a long-term customer of Venture Global LNG’s U.S. terminals because it did not trust the company, CEO Patrick Pouyanné told Reuters on Wednesday. Venture Global has become the most valuable U.S. LNG company after a blockbuster initial public offering last month, but has been roiled by legal challenges … Read more
Summary • Beijing slapped 10% tariffs on U.S. crude imports after U.S. levies imposed • U.S. crude export growth stalled in 2024, rising just 0.6% • Medium-sour crude exports to China may stay in U.S. refineries (Reuters) – China’s retaliatory tariffs on the United States may cause U.S. oil exports to decline in 2025 for … Read more
Chinese buyers of US LNG could divert cargoes to Europe China’s share of US LNG offtake set to grow Tit-for-tat tariffs could impact new US LNG projects LONDON, Feb 6 – The burgeoning trade war between the United States and China has caught American gas exporters in the crossfire as they face the prospect of … Read more
(Reuters) – The U.S. Department of Energy will prioritize expanding energy production over achieving net-zero greenhouse gas emissions, according to an order issued on Wednesday by Energy Secretary Chris Wright. The secretarial order is meant to align the department with priorities outlined by President Donald Trump, who has called climate change a hoax and has … Read more
By Karen Braun (Reuters) – A potential trade war between the United States and its two neighbors has been thwarted for now, though the U.S.-China status remains murky after both parties implemented tariffs on Tuesday, their leaders yet to speak with one another as of late afternoon. All four countries occupy significant spots on each … Read more
(Reuters) – Oil prices rose on Friday after new sanctions were imposed on Iran’s crude exports but were on track for a third straight week of decline, hurt by U.S. President Donald Trump’s renewed trade war on China and threats of tariffs on other countries. Brent crude futures were up 51 cents, or 0.7%, at … Read more
Completed the acquisition of Marathon Oil, adding high-quality, low cost of supply inventory adjacent to the company’s leading U.S. unconventional position. Reported fourth-quarter 2024 earnings per share of $1.90 and adjusted earnings per share of $1.98. Delivered 2024 preliminary reserve replacement ratio of 244% and preliminary organic reserve replacement ratio of 123%. Announced planned 2025 return … Read more
(Reuters) – Egypt has signed deals worth about $3 billion with Shell and TotalEnergies to secure 60 cargoes of liquefied natural gas (LNG) to cover demand for 2025, three trading sources told Reuters. The most populous Arab country last year returned to being a of natural gas, buying dozens of cargoes and abandoning plans to … Read more
(Reuters) – TotalEnergies will expand its investment in U.S. liquefied natural gas over the next decade as the French company seeks to cement its position as a major exporter of U.S. LNG, its CEO told Reuters on Wednesday, dismissing fears by American market watchers that more exports could boost U.S. gas prices. In an interview … Read more
Summary Saudi Aramco raised March crude prices for Asian buyers • U.S.-China trade tariffs cloud oil demand outlook • Trump policies make for oil market volatility, analysts say Oil prices edged up on Thursday after Saudi Arabia’s state oil company raised its March crude prices sharply, but the gains barely dented the previous day’s slide … Read more
(Reuters) – OPEC oil output fell in January for a second month, a Reuters survey found, as a drop in exports from Nigeria and Iran offset a rebound from the United Arab Emirates where field maintenance had curbed output in December. The Organization of the Petroleum Exporting Countries pumped 26.53 million barrels per day last … Read more
(Reuters) – U.S. crude oil imports from Mexico fell by 372,000 barrels per day (bpd) to a weekly record low of 149,000 bpd in the week ended Jan. 31, according to data from the U.S. Energy Information Administration’s (EIA) Petroleum Supply Report going back to 2010. That was lower than the prior all-time low for … Read more
(Reuters) – Norway’s Equinor is reducing its ambitions for developing renewable energy capacity by 2030, it said on Wednesday, the latest move by a European energy company to cut green targets as the market for renewables sours. Equinor follows peers BP and Shell, which have trimmed plans to expand in renewable energy, especially offshore wind, … Read more
Administration considering retooling energy loan program Loan program could be revamped to focus on different sectors The Trump administration is exploring legal options to cancel loans issued under a $400 billion program to finance clean-energy technology as it considers overhauling the initiative, according to a person familiar with the matter. The newly installed director of … Read more
With the increased focus on efficiency and cost savings, it’s important to ensure your travel spend is being used as wisely as possible. With the increased focus on efficiency and cost savings, it’s important to ensure your travel spend is being used as wisely as possible. Make Every Dollar Count While each company and industry … Read more
(Reuters) – U.S. President Donald Trump on Tuesday plans to restore his “maximum pressure” campaign on Iran in an effort to stop Tehran from obtaining a nuclear weapon and drive its oil exports down to zero, a U.S. official said. The move brings back the tough U.S. policy on Iran that Trump, a Republican, practiced … Read more
(Reuters) – President Donald Trump’s emerging trade war with Beijing poses a new threat to billions of dollars in planned U.S. liquefied natural gas export projects, many of which rely on China as a key buyer, according to analysts, industry sources, and company filings. The threat reflects the double-edged nature of Trump’s protectionist policies, which … Read more
(Reuters) – Canadian pipeline operator Trans Mountain said it expects to see increased interest to ship on its system if the United States slaps tariffs on Canadian oil imports in a month. The pipeline, which can carry up to 890,000 barrels per day of crude from Alberta to Canada’s Pacific Coast, has been about 80% … Read more
(Reuters) – U.S. President Donald Trump will reimpose “maximum pressure” on Iran and drive its oil exports down to zero, a U.S. official said. Iran, the third largest producer in the Organization of the Petroleum Exporting Countries, extracts about 3.3 million barrels of oil per day (bpd), or around 3% of global output. Following are … Read more
(Reuters) – U.S. President Donald Trump will restore his “maximum pressure” campaign on Iran and drive its oil exports down to zero, a U.S. official said on Tuesday. Iran has repeatedly threatened to close the Strait of Hormuz for traffic as a retaliation for Western pressure. That would shut down the region’s trade and lead … Read more
The U.S. Interior Department on Monday unveiled a suite of orders aimed at carrying out President Donald Trump’s agenda to maximize domestic energy and minerals production and slash red tape. In a statement, the agency said Interior Secretary Doug Burgum, the former governor of North Dakota, signed six orders on his first day in office. … Read more
Summary • Brent down 0.87%, WTI down 0.84% • U.S. crude stocks rose by 5 mln barrels in the week to Jan.31 – market sources • Trump clamp-down on Iran may support prices in near term (Reuters) – Oil prices dipped on Wednesday as rising U.S. stockpiles and concern about a new Sino-U.S. trade war … Read more
(Reuters) – Canadian pension fund CPP Investments is weighing strategic options, including a sale or initial public offering, for Encino Acquisition Partners that could value the U.S. oil and natural gas producer at as much as $7 billion, including debt, people familiar with the matter said. The deliberations come as the energy industry is anticipating … Read more
(Reuters) – Venezuela’s oil exports rose 15% to some 867,000 barrels per day in January, driven by an increase in shipments by U.S. major Chevron Corp from its joint ventures with state firm PDVSA, and more cargoes to China, data based on vessel movements showed. The administration of former U.S. President Joe Biden last year … Read more
(Reuters) – U.S. President Donald Trump will restore his “maximum pressure” campaign on Iran and drive its oil exports to zero, a U.S. official said on Tuesday. Such a move would reduce crude supply, boosting oil prices and creating the need for others to pump more. Saudi Arabia and fellow members of the Organization of … Read more
(Reuters) – The trade in crude oil, liquefied natural gas and coal between the United States and China is effectively dead after Beijing responded to President Donald Trump’s tariffs with measures of its own. China, the world’s biggest importer of the three energy commodities, on Tuesday slapped import duties of 15% on U.S. LNG and … Read more
(Reuters) – U.S. natural gas futures fell about 5% on Tuesday as less gas flows to the nation’s liquefied natural gas (LNG) export plants and after President Donald Trump suspended his threat of steep tariffs on Mexico and Canada. That tariff suspension reduced futures prices because roughly 9% of the gas consumed in the United … Read more
Beijing slapped 15% levies on US gas following Trump’s tariffs Chinese buyers poised to resell more of their US supply China Imposes Tariffs on US Goods Amid Trump’s Levies Beijing announced 15% levies on American gas just moments after President Donald Trump imposed a tariff on goods from Beijing. China imported about 6% of its LNG from the US … Read more
Bloomberg News At the first meeting of OPEC+ since Donald Trump called on members to bring down oil prices, the cartel defied the US president. During an online review Monday, the alliance led by Saudi Arabia and Russia chose to maintain its current trajectory on crude production despite Trump’s exhortations. Consequently, OPEC+ is committed to continuing with supply curbs … Read more
China imposed new tariffs on a range of US products moments after President Donald Trump slapped a 10% tariff on goods from Beijing. Here is translated version of the Chinese statement. On February 1, 2025, the US government announced that it would impose a 10% tariff on all Chinese goods exported to the US on … Read more
Summary • US tariffs on China take effect • China counters with 10% tariffs on crude, coal and LNG • Trump pauses tariffs on Mexico, Canada for a month • OPEC+ likely to bring back more supplies in April Feb 4 (Reuters) – Crude prices fell on Tuesday as U.S. tariffs on China took effect … Read more
Japanese trading house Mitsui could consider studying a project to liquefy natural gas in the U.S. state of Alaska, but no decisions have been made yet, Chief Financial Officer Tetsuya Shigeta said on Tuesday. Japan is considering offering support for a $44-billion gas pipeline in Alaska as it seeks to court U.S. President Donald Trump … Read more
U.S. exports of liquefied natural gas (LNG) to Europe jumped in January as cold weather drove up demand and prices for the superchilled gas rose, preliminary data from financial firm LSEG showed. Nearly nine of every ten cargoes leaving the U.S. headed to Europe, while total exports to all countries for the month reached 8.46 … Read more
China is the world’s top energy importer but its purchases from the United States are relatively modest, blunting the impact of Beijing’s move on Tuesday to slap retaliatory tariffs on imports of U.S. crude oil, liquefied natural gas (LNG) and coal. Shortly after tariffs on China imposed by U.S. President Donald Trump took effect on … Read more
The U.S. Senate on Monday confirmed Chris Wright, a fracking executive, to be President Donald Trump’s energy secretary. The vote was 59-38, with seven Democrats and one Independent, who caucuses with Democrats, crossing the aisle. Wright, 60, the CEO of Liberty Energy since 2011, has said he will step down from the company once confirmed. … Read more
(Reuters) – OPEC+ is likely to adhere to current plans to raise output gradually from April when a panel of top ministers meets on Monday, delegates from the producer group told Reuters, despite U.S. President Donald Trump urging OPEC to lower prices. Four OPEC+ sources said Monday’s meeting of the Joint Ministerial Monitoring Committee, set … Read more
By Yogi Schulz The oil and natural gas industry refines over 100 million barrels of crude oil daily to produce much more than gasoline. Here’s an overview of how pervasive hydrocarbons are in our economy and how essential hydrocarbons are to the many products we depend on in our modern society. This overview is also … Read more
Feb 3 (Reuters) – Global oil demand will likely be close to current levels in 2040, energy and commodities trader Vitol said in its long-term demand outlook on Monday, with rising consumption later this decade offset by a decline through the late 2030s. The world’s largest independent oil trader expects oil demand – which the … Read more
(Reuters) – OPEC+ agreed to stick to its policy of gradually raising oil output from April on Monday and removed the U.S. government’s Energy Information Administration from the sources used to monitor its production and adherence to supply pacts. OPEC+ and Donald Trump clashed repeatedly during his first administration in 2016-2020 when the U.S. President … Read more
(Reuters) – U.S. natural gas futures jumped about 9% on Monday on forecasts for colder weather and higher heating demand next week and worries about supplies from Canada related to U.S. President Donald Trump’s sanctions. In 2024, about 9%, or roughly 8.4 billion cubic feet per day (bcfd) of the gas consumed in the U.S. … Read more
(Reuters) – Saudi Arabia and the United Arab Emirates are seen by Russia as possible venues for a summit between U.S. President Donald Trump and Russian President Vladimir Putin, two Russian sources with knowledge of the discussions told Reuters. Trump has said he will end the war in Ukraine as soon as possible and said … Read more
Bloomberg News President Claudia Sheinbaum said US tariffs on Mexico would be delayed for one month after a conversation with Donald Trump on Monday. “We had a good conversation with Trump,” she said in a post on social media. The Mexican peso erased losses and is up 0.3% on her comments.
Claudia Sheinbaum Bloomberg News President Claudia Sheinbaum said US tariffs on Mexico would be delayed for one month after a conversation with Donald Trump on Monday. “We had a good conversation with Trump,” she said in a post on social media. The Mexican peso erased losses and is up 0.3% on her comments.
(Reuters) – The new tariffs imposed by U.S. President Donald Trump on imports from Canada, Mexico, and China are likely to have a limited near-term impact on global oil and gas prices, Goldman Sachs said in a note on Sunday. “Potential tariff-driven decline in U.S. natural gas imports from Canada is too small to significantly … Read more
(Reuters) – Japan’s industry ministry is aware of a view that expansion of data centres may increase demand for electricity, however, it is difficult yet to predict how demand may change with the appearance of one technology such as DeepSeek, it said by email. In late December, the government released a draft of its basic … Read more
Summary • OPEC panel to meet at 1300 GMT, sources say • Group scheduled to unwind output cuts gradually from April • Oil rises towards $77 as tariffs spark supply disruption fears (Reuters) – OPEC+ is likely to adhere to current plans to raise output gradually from April when a panel of top ministers meets … Read more
HOUSTON, Feb. 03, 2025 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“Vaalco” or the “Company”) is pleased to announce a significant milestone in its Côte d’Ivoire Floating Production Storage and Offloading vessel (“FPSO”) Dry Dock Refurbishment Project. In alignment with the project timeline, the FPSO Baobab Ivoirien MV10, operated by Canadian Natural Resources … Read more
Agreement to focus on creation of 100% ammonia combustion dual fuel with natural gas small-size turbines Ammonia is a low-carbon fuel that can play a critical role in decarbonizing hard-to-abate sector, including marine transportation Collaboration to deliver efficiency comparable to reciprocating engines while minimizing carbon emissions FLORENCE, Italy, Feb. 03, 2025 (GLOBE NEWSWIRE) — … Read more
by Jim Warren News stories about global warming continue to be dominated by the views of the overly alarmed. This is a problem for fans of the petroleum and natural gas industries in the alienated West. That’s because people who are continuously misinformed about climate change by the media are more likely to support … Read more
Complementary production in Canada and the U.S. boosts energy security By Deborah Jaremko Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Enbridge’s Cheecham Terminal near Fort McMurray, Alberta is a key oil storage hub that moves light and heavy crude along the Enbridge network. Photo courtesy Enbridge The … Read more
For North American companies, the “wait and see” moment on tariffs is over. U.S. President Donald Trump imposed a 25% levy on goods from Canada and Mexico, along with a 10% tariff on China, in what could be the opening stages of a full-scale trade war likely to create new headaches for executives that have … Read more
Summary US to tax oil imports from Canada at 10% Mexican energy imports to US face 25% charge Canada and Mexico supply a quarter of crude processed by US refineries, says EIA OPEC+ unlikely to alter plans to unwind output cuts gradually, sources say (Reuters) – Oil prices rose on Monday after U.S. President Donald … Read more
Summary • Energy imports from Canada will have 10% duty, Mexican energy tariffs to be 25% • Tariffs mean higher costs for finished fuels like gasoline • US East Coast may have to turn to European fuel imports (Reuters) – U.S. consumers will see higher prices at the gas pump from President Donald Trump’s decision … Read more
Bank CEOs speak with policymakers as trade battle begins People circulate ‘Buy Canada’ lists; hockey fans boo US anthem Canadian government officials and business leaders mounted a crisis response that drew parallels with the Covid pandemic after President Donald Trump signed an order to put 25% tariffs on almost everything the US buys from Canada. Officials arranged … Read more
After weeks of threats, a North American trade war has erupted. Businesses and investors are bracing for the fallout. Donald Trump’s move to invoke an emergency and impose tariffs on Canada, Mexico and China is the most extensive act of protectionism taken by a US president in almost a century. In what may be the … Read more
Summary • Trump orders 10% tariffs on Canadian oil, 25% tariffs on Mexican crude • U.S. refineries face higher costs for heavier crude grades • U.S. refinery earnings already under pressure (Reuters) – U.S. President Donald Trump’s trade tariffs on Canadian and Mexican oil imports will offer European and Asian refineries a competitive advantage against … Read more
Summary • Canada and Mexico slapped with 25% duties; China gets 10% above current tariffs • Trump wants action on stanching flow of fentanyl and migrants to the US • Canadian oil will be taxed at 10%, more oil and gas tariffs expected in mid-February • Canada, Mexico vow retaliatory tariffs, China says it will … Read more
Summary • All 6 regional grid operators to miss July deadline to upgrade equipment • Delays could extend 1-2 years past deadline • Grid operators cite complexity of project, lack of software vendors (Reuters) – U.S. grid operators are asking regulators for more time to meet a federal order to upgrade existing transmission lines with … Read more
Summary • Oil executives offer little optimism that refining business will improve in 2025 • Exxon, Chevron Q4 profits hurt by weak refining sector • Independent refiners face challenges as fuel demand falters in US and China Big Oil executives this week saw little prospect of a near-term improvement in refinery profits after Chevron, Exxon … Read more
Trump eyes Feb. 18 for oil tariffs, expects lower duty for Canada (Reuters) – U.S. President Donald Trump said on Friday he expects his administration to impose tariffs related to oil and gas around Feb. 18 and it could reduce the planned levy on some Canadian crude. The U.S. imports some 4 million barrels per … Read more
Summary • Trump says oil and gas tariffs will come around Feb 18 • Trump says he will probably bring tariffs down to 10% on Canadian oil • Russian sanctions dampen supply prospects • OPEC+ to discuss US output plans on Monday (Reuters) – Oil prices rose in aftermarket trading on Friday as U.S. President … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for the first time in eight 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 six to 582 in the week to Jan. … Read more
(Reuters) – U.S. President Donald Trump said on Friday that he will decrease threatened tariffs on Canadian oil to 10%. Trump said that tariffs on oil and gas are likely to take effect on Feb 18. Reporting by Trevor Hunnicutt and Jasper Ward; Editing by Caitlin Webber
(Reuters) – U.S. crude oil production fell by 122,000 barrels per day in November to 13.314 million bpd, down from a monthly record high of 13.436 million bpd in October, the U.S. Energy Information Administration said in its petroleum supply monthly report on Friday. Product supplied of crude oil and petroleum, EIA’s way of measuring … Read more
(Reuters) – Private equity-backed Infinity Natural Resources was valued at $1.30 billion after shares of the oil and natural gas producer rose 10.8% in their debut on the New York Stock Exchange on Friday. The Morgantown, West Virginia-based company’s stock opened at $22.16, above the offer price of $20 apiece. Infinity, backed by buyout firms … Read more
(Reuters) – Canada will respond immediately and forcefully if the United States goes ahead with a threat to impose tariffs, Prime Minister Justin Trudeau said on Friday, warning Canadians that they could be facing tough times. President Donald Trump has set a Saturday deadline to slap a 25% tariff on imports from Canada and Mexico. … Read more
(Reuters) – OPEC+ is unlikely to alter existing plans to raise output gradually when it meets on Monday, delegates from the producer group told Reuters, despite U.S. President Donald Trump urging OPEC and its de facto leader Saudi Arabia to bring down prices. The meeting of top ministers from the Organization of the Petroleum Exporting … Read more
Fourth Quarter Reported fourth-quarter earnings of $8 million or $0.01 per share; adjusted loss of $61 million or $0.15 per share Earnings impacted by $230 million pre-tax of accelerated depreciation related to Los Angeles Refinery Returned $1.1 billion to shareholders through dividends and share repurchases Record NGL fractionation and LPG export volumes in Midstream Record … Read more
Canadian oil producer Imperial Oil posted a fall in fourth-quarter profit on Friday, as lower crude prices offset higher production and stronger refinery-capacity utilization.Benchmark crude prices fell 3% in 2024. The company still raised its quarterly dividend by 20% to between 60 and 72 Canadian cents per share. Imperial’s upstream production for the October-December quarter was … Read more
HOUSTON, Jan 31 – U.S. oil producer Chevron used the term “Gulf of America” instead of Gulf of Mexico in its fourth-quarter press release on Friday, a sign of corporate America beginning to implement U.S. President Donald Trump’s order to rename the ocean basin. The name change was part of a flurry of executive orders Trump issued … Read more
DENVER, Jan. 31, 2025 /PRNewswire/ – Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (“Ovintiv” or the “Company”) today closed the previously announced acquisition of certain Montney assets from Paramount Resources Ltd. The acquisition adds approximately 70 thousand barrels of oil equivalent per day (“MBOE/d”) of production, 900 net 10,000 foot equivalent well locations, and approximately 109,000 net acres of land, … Read more
DENVER, Jan. 31, 2025 /PRNewswire/ – Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (“Ovintiv” or the “Company”) today closed the previously announced acquisition of certain Montney assets from Paramount Resources Ltd. The acquisition adds approximately 70 thousand barrels of oil equivalent per day (“MBOE/d”) of production, 900 net 10,000 foot equivalent well locations, and approximately 109,000 net acres of land, … Read more
Summary • Global oil demand seen growing by 700,000 to 1.3 mln bpd in 2025 • First upward revision in 2025 Brent price forecast since April (Reuters) – Sluggish demand from China and oversupply worries will keep oil prices anchored below $80 a barrel this year, a Reuters poll showed on Friday, although tougher U.S. … Read more
Summary • Japan considers support for Alaska gas project to forestall trade tensions with US, sources say • Japan doubts pipeline viability but may explore deal if asked by Trump, sources say • Trump and Japan PM Ishiba expected to meet as soon as next week, sources say (Reuters) – Japan is considering offering support … Read more
(Reuters) – Chevron Corp reported fourth-quarter earnings below Wall Street estimates on Friday as weak margins pushed its refining business into a loss for the first time since 2020, sending its shares down more than 2%. Chevron CEO Mike Wirth told Reuters the downtrend in refining margins is set to continue this year. The second-largest … Read more
The battery maker’s bankruptcy lawyer argued in a letter to creditors that Chapter 11 processes cover all countries Bloomberg News The steps to recover claims “violate United States federal law and an order from the U.S. Bankruptcy court,” Christopher T. Greco, a lawyer for Kirkland & Ellis LLP, wrote in the letter seen by newspaper … Read more
CEO sees “a foggy picture ahead for 2025” amid sanctions, tariffs and the potential for weaker oil prices. Shell Plc plans to keep spending tight this year after profit fell in the final quarter of 2024. Energy supermajors expected some end-of-year weakness, when oil prices mostly treaded below $75 a barrel following the election of US President … Read more
(Reuters) – Private equity firm NGP Energy Capital Management is exploring a sale of natural gas producer Camino Natural Resources, which may achieve a valuation of around $2 billion including debt, sources familiar with the matter said on Thursday. Among the largest remaining private producers in the Anadarko basin of Oklahoma, Camino covers around 135,000 … Read more
U.S. President Donald Trump on Thursday said he would be moving ahead to put a 25% tariff on imports from Mexico and Canada that would take effect on Feb 1. When asked if the tariffs would include tariffs being impossed on oil imports, Donald Trump responded as follows. “We may or may not. We’re going … Read more
Mexico’s government is looking to speed up plans to double its strategic natural gas storage capacity amid concern that U.S. President Donald Trump could use the country’s dependence on U.S. gas as some form of leverage, three sources familiar with the matter said. Mexico, a net importer of natural gas, has just 2.4 days of … Read more
Summary • Trump tariffs on Canada and Mexico could start this weekend • Unclear if tariffs would exclude oil imports • Russian sanctions dampen supply prospects • OPEC+ to discuss U.S. output plans on Feb 3 (Reuters) – Oil prices were steady on Friday but on course for a weekly decline as markets wait to … Read more
Private equity-backed oil and natural gas producer Infinity Natural Resources on Thursday raised $265 million in its initial public offering in the United States. The company, backed by buyout firms Pearl Energy Investments and NGP, sold 13.5 million shares at $20, within marketed range of $18 and $21. Energy has been a major theme in … Read more
Summary • Exxon’s low production costs boost profits despite lower oil prices • Refining business pressured by increased global fuel supply • Exxon plans $20 billion annual share repurchases through 2026 (Reuters) – Exxon Mobil on Friday beat Wall Street’s estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and … Read more
Dealmaking in the U.S. upstream oil and gas industry hit $105 billion in 2024, the third highest annual total ever, but activity slowed in the second half as buyers found fewer targets to acquire, consultancy Enverus said on Wednesday. Last year’s total deal value fell sharply behind the whopping $192 billion in mergers and acquisitions … Read more
Trump sets his sights on exporting more natural gas overseas Risky plan bets countries will buy US fuel to avoid tariffs Bloomberg News President Donald Trump’s high-stakes bid to use natural gas exports as leverage to expand US influence in Europe and Asia appears to be gaining early traction. Government officials and energy executives from countries … Read more
52-page document details which programs are under review White House is scrutinizing funding as part of overhaul A $400 billion green bank for clean energy projects and a popular consumer tax credit for electric vehicles are among federal programs being scrutinized amid a broader order from the Trump administration for a government-wide spending freeze. The … Read more
With the threat of a Feb. 1 tariff imposition looming, U.S. President Donald Trump’s pick to lead the Commerce Department says Canada could avoid tariffs in the short term if the government addresses border concerns – and those sentiments are being echoed by Newfoundland and Labrador Premier Andrew Furey. Detailing a broader tariff plan … Read more
Baker Hughes to supply power island and liquefaction train systems, and signs multi-year services frame agreement to support phases 1 and 2 of Plaquemines LNG project As a strategic LNG solutions supplier, Baker Hughes to help Venture Global deliver 100+ MTPA of production capacity HOUSTON and LONDON, Jan. 30, 2025 (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR), an … Read more
Summary • Investors await Trump’s move on Mexico, Canada tariffs • US crude oil stockpiles up last week • OPEC+ ministerial meeting on Feb. 3 in focus (Reuters) – Oil prices were little changed on Thursday as investors focused on tariffs threatened by U.S. President Donald Trump on Mexico and Canada, the two largest suppliers … Read more
The International Energy Agency’s former oil industry and market chief criticized the agency’s focus on the global energy transition in a report released on Wednesday, and said the IEA should concentrate on oil and gas supplies. The IEA is under fire from the administration of President Donald Trump for a shift in recent years toward … Read more
Energy major Chevron said on Tuesday it has signed an agreement with investment firm Engine No. 1 and GE Vernova to build natural gas-based power plants to run co-located data centers in the U.S. The announcement comes just a week after U.S. President Donald Trump revealed a private sector investment of up to $500 billion … Read more
The European Commission did not propose a ban on Russian liquefied natural gas in its latest package of sanctions because member states raised concerns about first securing alternatives including from the United States, EU diplomats said. “First you have to have a deal because otherwise you will be left without gas from Russia and without … Read more
Mexico’s government is looking to speed up plans to double its strategic natural gas storage capacity amid concern that U.S. President Donald Trump could use the country’s dependence on U.S. gas as some form of leverage, three sources familiar with the matter said. Mexico, a net importer of natural gas, has just 2.4 days of … Read more
U.S. crude stocks rose last week as refinery utilization slipped, the Energy Information Administration (EIA) said on Wednesday, as winter storms sweeping the country hit fuelmakers’ operations and boosted distillates demand. Crude inventories rose by 3.5 million barrels to 415.1 million barrels in the week ended Jan. 24, the EIA said, compared with analysts’ expectations … Read more
(Reuters) – Britain’s competition regulator said on Wednesday it has launched an inquiry into oilfield services company SLB’s proposed $8 billion deal to buy smaller rival ChampionX. The Competition and Markets Authority (CMA) said it is looking at whether the deal, which was announced last April, would raise competition concerns in any UK markets. It … Read more
Summary Valero to kick off Q4 US refiner earnings on Thursday Soft fuel demand continues to weigh on Q4 refining margins US gasoline futures crack spread hit one-year low in December Investors to focus on refiners’ plans to limit impact of Trump’s tariffs (Reuters) – Wall Street is bracing for a sharp decline in U.S. … Read more
Bloomberg News Surplus supply could cap Asian LNG prices a $10/mmbtu PetroVietnam bought cargo for delivery in March; APLNG sold US gas producers could gain Asian market share at the expense of Australian exporters in the long run, as countries running a trade surplus with the US, like Japan and South Korea, are compelled to … Read more
Summary • API data shows rise in weekly US crude and gasoline inventories • Trump plans to impose Feb 1 tariffs on Canada and Mexico • Libya reports normal oil loadings after protests • Saudi and other OPEC+ ministers meet next week (Reuters) – Oil prices edged lower Wednesday on a rise in U.S. crude … Read more
From pipelines to reactors, companies bank on data center boom DeepSeek’s more efficient model threatens growth forecasts Pipeline networks and nuclear startups. Texas landowners and fuel-cell makers. In one brutal blow, DeepSeek has revealed just how many energy-related businesses in the US have been banking on an artificial intelligence boom — and the surge in … Read more
Newly inaugurated U.S. President Donald Trump is pushing to “take back” the Panama Canal, the world’s second busiest interoceanic waterway, spurring concerns that the United States could invade the Central American nation.Trump argues that Panama has broken a pledge of neutrality made when the United States transferred the canal to Panama in 1999, falsely claiming … Read more
Oil and gas producer partners with GE Vernova, Engine No. 1 Chinese AI company DeepSeek throws power forecasts into doubt A power substation near a data center in Ashburn, Virginia. Photographer: Nathan Howard/Bloomberg Chevron Corp. is launching a partnership to develop natural gas-fired power plants next to data centers, a move that will allow it to … Read more
The fallout for Venture Global Inc., in the wake of a troubled initial public offering, accelerated amid a market selloff that sapped $12 billion from its valuation on debut. Shares of the liquefied natural gas exporter tumbled 17% on Monday, bringing its losses to 20% from its $25 apiece offer price last week. The company’s … Read more
Saudi Energy Minister Prince Abdulaziz bin Salman held talks on Monday with his Iraqi and Libyan counterparts, Hayan Abdel-Ghani and Khalifa Abdulsadek, in Riyadh on efforts to support the stability of global energy markets, the Saudi state news agency (SPA) reported. OPEC+, which groups the de facto Saudi-led Organization of the Petroleum Exporting Countries and … Read more
(Reuters) – U.S. President Donald Trump suspended new federal offshore wind leasing on his first day back in the Oval Office on Jan. 20, pending an environmental and economic review. On the same day, Danish energy company Orsted, the world’s biggest offshore wind firm, posted another impairment charge on delays to a U.S. offshore project. … Read more
Jan 27 (Reuters) – Southern California Edison, a unit of utility Edison International said on Monday preliminary analysis of data showed a “momentary and expected increase in current” on its energized lines in the Eaton Canyon corridor on Jan. 7 evening. Fire officials have not found SCE to be responsible for the Los Angeles fires. But the … Read more
Trump says he wants universal levy to “protect our country” Trump earlier pledged tariffs on chips, pharma, steel, copper President Donald Trump said he wants to enact across-the-board tariffs that are “much bigger” than 2.5%, the latest in a string of major signals Monday that he’s preparing widespread levies to reshape US supply chains. “I have it … Read more
Summary • Brent up, WTI futures inch up • Protests block loading oil at Libya’s two major ports • China manufacturing activity contracted in January • US set for warmer than normal temperatures (Reuters) – Oil prices edged higher but remained near a two-week low on Tuesday, as weak economic data from China and rising … Read more
Summary • US crude output hits record highs as rig count, frac fleets slip • WTI to average $63/bbl in 2025, oil executives planning for $70-75 • Quarterly land rig day rates to end 2025 at lowest since Q2 2022 • Bankruptcies on the rise as service firms face lower prices, less work (Reuters) – … Read more
Shares of U.S. power, utility and natural gas companies sold off on Monday in some of the biggest recorded one-day drops, as new AI technology from Chinese start-up DeepSeek cast doubt on a projected surge in U.S. electricity demand and tech spending. Power producers were among the biggest winners in the S&P 500 last year … Read more
Donald Trump made liberal use of emergency powers during his first stint as US president and is employing the same playbook this time around. Just hours after being sworn into office for a second term, he declared that the domestic energy landscape and situation at the border with Mexico constitute national emergencies. By designating something … Read more
Lyondell Basell Industries began shuttering its 263,776 barrel-per-day (bpd) Houston refinery on Monday for permanent closure, said people familiar with plant operations.The shutdown of the refinery is expected to be completed by early February as the refinery has only a few days of supply of crude oil on hand, the sources said.
The U.S. energy regulator has reinstated the certificate for Williams Companies’ Transcontinental Gas Pipe Line (Transco) on Friday, the company said on Monday, which would allow the expansion of the project. Last year, a U.S. appeals court said the Federal Energy Regulatory Commission (FERC) should have better assessed the risk of significant greenhouse gas emissions, … Read more
The U.S. Energy Information Administration has forecast higher wholesale power prices for 2025 across the country’s regional markets, except Texas and the Northwest. Wholesale power prices could average $40 per megawatt hour (MWh) this year, rising 7% over 2024, the EIA said in a report on Monday. It forecast the average price of electricity for … Read more
U.S. natural gas futures fell about 7% on Monday on forecasts for much warmer-than-normal weather over the next two weeks than previously expected that should keep heating demand low. Front-month gas futures for February delivery on the New York Mercantile Exchange fell 26 cents, or 6.5%, to $3.767 per million British thermal units (mmBtu) at … Read more
CALGARY, Alberta – GLJ Ltd. (“GLJ”), a global leader in energy resource evaluations and emerging energy service solutions, is pleased to announce key organizational changes that position the company for continued success and innovation. These promotions underscore GLJ’s commitment to leadership excellence, technical expertise, and delivering unmatched value to clients worldwide. Tracy Bellingham promoted … Read more
Diversified Energy Company Plc agreed to acquire Texas-based energy producer Maverick Natural Resources to expand its scale as US President Donald Trump makes higher oil production a key priority. Alabama-based Diversified signed a definitive agreement to acquire Maverick, which is in the portfolio of energy and infrastructure investor EIG, for about $1.28 billion, including the assumption of debt, with payment … Read more
German chancellor Olaf Scholz has welcomed U.S. President Donald Trump’s plans for more oil and gas exports, saying it was “good for Europe and Germany,” German newspaper Handelsblatt reported on Sunday. Scholz said in the interview the move would help in the transition phase towards climate neutrality, which would last until around the middle of … Read more
Obscure laws to be marshaled to build pipelines, power plants ‘God Squad’ to weigh projects that threaten endangered species President Donald Trump’s declaration of an energy emergency opens the door to wield sweeping Cold War-era powers and little-known authorities to fast track pipelines, expand power grids and save struggling coal plants. By invoking the country’s national and … Read more
(Reuters) – Investors are snapping up crude oil futures as a hedge against the risk that U.S. President Donald Trump’s threatened trade tariffs will cause a resurgence in global inflation, adding momentum to a recent rally in oil prices sparked by a tightening of sanctions on Russia. Oil is a popular inflation hedge because energy … Read more
New supplies of liquefied natural gas take time to develop, and significant new capacity will only start kicking in over the coming years, a senior Exxon Mobil Corp. executive said. Demand for LNG is rising as Europe turns to the fuel to help plug gaps after losing the supply of Russian gas piped through Ukraine. Exxon … Read more
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row to the lowest since December 2021, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by … Read more
U.S. President Donald Trump’s possible 25% tariffs on imports from Canada and Mexico could raise U.S. natural gas prices at domestic hubs but seems unlikely to change gas flows significantly, Citi said in a note on Friday.Canadian natural gas exporters are likely to pass on the impact of the proposed tariffs to downstream customers along … Read more
WASHINGTON — Experts say U.S. President Donald Trump’s push for the OPEC+ alliance of oil exporting countries to bring down the cost of oil conflicts with the Republican leader’s own plans to make America energy-dominant. Trump made the comments in a wide-ranging address to the World Economic Forum in Davos, Switzerland on Thursday. He also … Read more
Advanced technologies are reshaping how engineering and construction projects are conceived, designed, and executed. One such transformative technology is mobile 3D scanning. 3D scanning utilizes digital photography and LiDAR (Laser Detection and Ranging) to produce digital, at scale, representations of real-world locations. These tools can tremendously enhance project delivery. Precise, high-resolution 3D models of the … Read more
Winter can be relentless, and when freezing temperatures hit, your operations can be at serious risk. Freeze-ups can lead to costly downtime, lost production, and unexpected challenges for your pneumatic systems. But with Kathairos Solutions’ liquid nitrogen solution, you can keep your operations running smoothly no matter how harsh the conditions get. Here’s why liquid … Read more
Summary • US puts Colombia sanctions threat on hold • Trump policies keep markets nervous • OPEC+ yet to react to Trump call for lower prices (Reuters) – Oil prices edged up on Monday, with traders still on edge despite the U.S. pulling back from initial sanctions threats against Colombia, reducing immediate concern over oil … Read more
Summary • Oil companies seen prioritizing returns over drilling growth • Overall oil and gas production expected to grow 5% this year • Chevron, Exxon expected to report fourth-quarter profit declines HOUSTON, Jan 27 – Wall Street expects U.S. oil and gas companies to keep a lid on spending in 2025 and keep their focus … Read more
Summary • JERA plans to diversify LNG supply by raising US purchases • Monitors US LNG policy sustainability for long-term supply • Aims for balanced energy portfolio with Middle East supply (Reuters) – Japan’s biggest top LNG buyer, JERA, plans to increase its purchases of liquefied natural gas from the United States to diversify its … Read more
The biggest lesson from all this is that Canada must find a way to diversify its trade, especially when it comes to energy. Canada needs to build more pipelines, diversify its customer base, and start acting like a country that is looking out for everyone, not just its own self interest. William Lacey Thanks for … Read more
Order essentially freezes agency with about $50 billion budget Trump has vowed to unravel Biden’s climate-friendly policies The Trump administration has halted spending, loans and other actions at the Energy Department as part of a “comprehensive review” to ensure they align with the president’s priorities, according to a memo from the agency’s acting secretary seen … Read more
Developer no longer interested in oil project killed by Biden Process for Canada-US pipeline would likely have to start over President Donald Trump appears to have opened the door for construction of the Keystone XL pipeline, the controversial oil conduit that even its former developer doesn’t want to build. A Biden administration executive order that revoked Trump’s … Read more
The new president issued a barrage of orders seeking to boost fossil fuels and reverse policies that address global warming. Bloomberg President Donald Trump wasted no time in laying the groundwork for a sweeping anti-climate agenda, signing a series of executive orders just hours after being sworn into office that seek to unravel former President … Read more
Summary • Trump reiterates call on OPEC to bring down oil prices • US president moves to raise US oil output • Trump vows to impose tariffs on European Union, Canada and Mexico • U.S. crude stocks fall by 1 million barrels (Reuters) – Oil prices settled slightly higher on Friday but posted a weekly … Read more
Exxon Mobil says that new LNG supply not easily available now Europe is reluctant to commit to new long-term contracts US President Donald Trump’s plan to quickly sell more liquefied natural gas to the world could face difficulties due to limited supplies this year and reluctance in Europe to commit to long-term deals. “The problem is … Read more
President Donald Trump’s oversight of an increasingly unreliable U.S. power grid requires swift action, he said this week, but there is no easy fix for one of the grid’s most complex and troubled areas: long-distance transmission lines. Trump’s National Energy Emergency declaration and executive orders detail a long list of interconnected problems dogging an electric … Read more
The U.S. dollar slid on Friday and was set for its worst week in over a year after President Donald Trump suggested a softer stance on tariffs against China, adding to uncertainty around the trade policy that kept equity markets on edge. Trump told Fox News in an interview on Thursday evening his recent conversation … Read more
The tepid reception to Venture Global’s ambitious valuation target shows companies need to set realistic expectations when going public, Wall Street analysts said, and could be a signal that the recovery in new offerings may be a cautious one.Touted as the first blockbuster listing of 2025, the LNG exporter was initially aiming for a price … Read more
OPEC+ has yet to react to a call from U.S. President Donald Trump for lower oil prices, with delegates from the group pointing to a plan already in place to start raising oil output from April. Trump on Thursday announced he would be asking Saudi Arabia and the Organization of the Petroleum Exporting Countries to … Read more
LONDON, Jan 24 (Reuters) – Chevron said on Friday it had started production at a $48 billion expansion of the giant Tengiz oilfield in Kazakhstan which will bring its output to around 1% of global crude supply. The expansion is expected to reach full capacity of 260,000 barrels per day by June, lifting overall production … Read more
The unit of Blackstone dedicated to investments in the energy industry has agreed to acquire Potomac Energy Center, the asset manager told Reuters on Thursday, in a deal symbolizing the allure to investors of power plants sited near data centers. Blackstone Energy Transition Partners has agreed to buy the 774-megawatt natural gas-fired power plant in … Read more
Summary • Trump urges Saudi Arabia and OPEC to bring down oil prices • Crude pressured by Trump moves to raise U.S. oil output • Tariffs could dent global demand growth • U.S. crude stocks fall by 1 million barrels (Reuters) – Oil prices edged up on Friday but remained on track for a weekly … Read more
Summary • Venture Global raises $1.75 bln in U.S. IPO • IPO priced at $25 per share vs $23 to $27 marketed range • Third-largest U.S. energy listing since 1995 (Reuters) – Venture Global LNG will debut on public markets on Friday after sharply lowering its IPO valuation to $60.5 billion, but still set to … Read more
By Valerie Volcovici and Sheila Dang Withdrawal from Paris agreement increases regulatory ambiguity, risks US energy firms planning long-term investments in technologies aimed at fighting climate change US oil industry prefers engagement in global climate talks WASHINGTON, Jan 22 (Reuters) – U.S. oil and gas producers are thrilled that President Donald Trump wants to encourage … Read more
Venture Global LNG has raised $1.75 billion after pricing its U.S. initial public offering, the second-largest exporter of liquefied natural gas in the United States said on Thursday. The company priced its offering of 70 million shares at $25 each, a day after cutting the price range to between $23 and $27 apiece and increasing … Read more
ARLINGTON, Va.–(BUSINESS WIRE)–Venture Global, Inc. (“Venture Global”) announced today the pricing of its initial public offering of 70,000,000 shares of its Class A common stock, par value $0.01 (“Class A common stock”) at a public offering price of $25.00 per share. In connection with the offering, Venture Global has granted the underwriters a 30-day option … Read more
By Sheila Dang and Valerie Volcovici Oil companies cautious on Alaska as policy reversals possible US oil production already at record levels Industry seeks long-term certainty beyond executive orders HOUSTON/WASHINGTON, Jan 23 (Reuters) – U.S. oil and gas companies are unlikely to expand development in Alaska and the Arctic following President Donald Trump’s executive order … Read more
By Timothy Gardner Europe trying to reduce dependency on gas from Russia Trump not worried about export effect on domestic gas price Trump says ‘clean coal’ could back up some power plants Jan 23 (Reuters) – President Donald Trump said on Thursday the United States would guarantee supplies of liquefied natural gas to Europe, even … Read more
(Reuters) – U.S. Senate committees on Thursday approved President Donald Trump’s choices to run energy and environmental policy – officials who, if backed by the full Senate, will seek to maximize fossil fuel output and scrap chunks of climate policy. The panel voted 18-2 to approve former North Dakota governor Doug Burgum to lead the … Read more
U.S. crude oil stocks, excluding the Strategic Petroleum Reserve, fell by 1.02 million barrels to 411.66 million barrels in the week ended Jan. 17, the lowest since March 2022, according to U.S. Energy Information Administration data released on Thursday. That was the ninth consecutive weekly drawdown from U.S. crude oil inventories, the longest such streak … Read more
(Reuters) – U.S. President Donald Trump on Thursday said he would demand that interest rates drop immediately, and that other countries should follow suit – marking his first broadside at Federal Reserve monetary policymaking since taking office just three days ago. “With oil prices going down, I’ll demand that interest rates drop immediately, and likewise … Read more
(Reuters) – The United States needs double the energy it has to power rapidly emerging artificial intelligence operations, U.S. President Donald Trump said on Thursday. Trump said he would give emergency declarations to allow companies working on AI to start building plants “almost immediately” given intensive competition with China. “The big problem is we need … Read more
U.S. President Donald Trump on Thursday announced he would be asking Saudi Arabia and OPEC to bring down the cost of oil and said he would be asking Riyadh to increase a planned U.S. investment package to $1 trillion from an initial $600 billion. “If the price came down, the Russia-Ukraine war would end immediately. … Read more
(Reuters) – Malaysia’s Petronas on Thursday said it has officially transferred its contractual right for a cluster of oil and gas fields in the country to a unit of US-based firm ConocoPhillips. The rights relate to the Kebabangan Cluster, a group of oil, condensate, and gas fields in the state of Sabah, Malaysia, which was … Read more
(Reuters) – Natural gas flows to Freeport LNG’s export plant in Texas were set to rise on Thursday after a power problem during a winter storm forced it to shut on Tuesday, data from LSEG and energy traders showed. Freeport is one of the most closely watched LNG export plants in the world because the … Read more
(Reuters) – The European Union is open to discussing purchases of energy and arms from the United States to ward off tariffs that President Donald Trump has threatened to impose on the bloc, EU’s top economy official said on Thursday. Trump has vowed to address a long-running deficit in goods trade with the EU, either … Read more
(Reuters) – President Vladimir Putin has grown increasingly concerned about distortions in Russia’s wartime economy, just as Donald Trump pushes for an end to the Ukraine conflict, five sources with knowledge of the situation told Reuters. Russia’s economy, driven by exports of oil, gas and minerals, grew robustly over the past two years despite multiple … Read more
(Reuters) – U.S. shale producer APA Corp said on Wednesday it curtailed about 23,500 barrels of oil equivalent per day of production in the fourth quarter due to weak commodity prices. U.S. natural gas prices collapsed to multi-year lows in 2024, with prices at the Waha hub in the Permian shale basin in West Texas … Read more
Why risk our relationship with a giant, friendly oil producer that US refiners depend upon? 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. In theory, President Donald Trump’s threat of sweeping tariffs against … Read more
Summary • Recent gains eroded by mixed market drivers, says analyst • Trump tariffs could dampen global oil demand growth • Higher U.S. crude stocks also pressure prices (Reuters) – Oil prices were little changed on Thursday, maintaining almost all of the previous session’s losses on uncertainty over how U.S. President Donald Trump’s proposed tariffs … Read more
By Erwin Seba HOUSTON, Jan 22 (Reuters) – LyondellBasell Industries (LYB.N) will begin the permanent closure of its 263,776 barrel-per-day Houston refinery this coming weekend, said people familiar with plant operations. Layoffs of up to 400 employees at the refinery are scheduled to begin two months after the shutdown begins, the sources said. A Lyondell … Read more
WASHINGTON, Jan 22 (Reuters) – The U.S. has extended the comment period on a federal study of the economic and environmental impacts of the booming liquefied natural gas (LNG) export business after advisers had urged President Donald Trumpto take a patient approach to prevent approvals from getting overturned in court. The U.S. Department of Energy … Read more
An unusually reticent president hasn’t had much to say about sanctions on Russia and Iran’s crude exports since returning to the White House. The detained Eagle S tanker, part of the fleet carrying Russian oil, off Finland this month.Photographer: Roni Rekomaa/Bloomberg By Weilun Soon Welcome to our guide to the energy and commodities powering the … Read more
By Echo Wang, Curtis Williams and David French Company cuts upper valuation guidance to $65 bln from $110 bln Investors balked at long-term sales guidance in IPO prospectus IPO a rare opportunity to buy equity in U.S. LNG exporter Also seen as test of investor faith in Trump pro-energy agenda Jan 22 (Reuters) – Venture … Read more
Citi on Wednesday raised its oil price outlook for 2025 due to geopolitical risks centred on Russia and Iran, but noted prices were likely to ease through the second half of the year. “The oil outlook could see heightened, sustained geopolitical risks in Iran/Russia-Ukraine potentially wipe out the 2025 oil balance surplus, but the Trump … Read more
North Dakota’s oil production was estimated to be down by between 70,000 barrels per day (bpd) to 100,000 bpd due to extreme cold weather and related operational challenges, the state’s pipeline authority said on Wednesday. “Milder winter temperatures have returned in the region, and we anticipate that the majority of the lost production will return … Read more
by Deidra Garyk Dear Cast and Crew of Landman I am writing to express my gratitude for each of you involved in this groundbreaking series. As someone who has spent considerable time working in the oil and gas industry, I want to thank you for the courage you’ve shown in tackling the contentious topic … Read more
Summary • Trump calls US energy supply inadequate and unaffordable • National Emergencies Act unlocks presidential power in 150 statutes • Experts warn that expediting projects could harm environment (Reuters) – U.S. President Donald Trump’s declaration of a national energy emergency to boost drilling and speed up pipeline construction should withstand court challenges but will … Read more
DENVER, Jan. 22, 2025 /PRNewswire/ – Ovintiv Inc. (NYSE, TSX: OVV) (“Ovintiv” or the “Company”) today closed the previously announced all cash sale of substantially all its Uinta assets, located in Utah, to FourPoint Resources, LLC, for approximately $2 billion. “The Uinta sale builds on our track record of unlocking significant value from our non-core assets while focusing our … Read more
NEW YORK, Jan. 22, 2025 /PRNewswire/ — Newmark Group, Inc. (Nasdaq: NMRK) (“Newmark” or “the Company”), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, announces the firm has arranged a $2.3 billion loan to capitalize a 206 megawatt (MW), Build-to-Suit data center development in … Read more
Order for April 1 border review came with Feb. 1 tariff threat Canada prime minister supports ‘dollar-for-dollar’ retaliation By Brian Platt, Thomas Seal, and Robert Tuttle US President Donald Trump is trying to create uncertainty in his trading partners to knock them off-balance and weaken their negotiating position, Canadian Prime Minister Justin Trudeau said. Trump … Read more
By Ruth Liao and Bailey Lipschultz Venture Global Inc. slashed the marketed range for its initial public offering, bringing the potential valuation well below its $110 billion target. The liquefied natural gas exporter is marketing 70 million shares in the offering for $23 to $27 each, a more than 40% drop from the $40 to … Read more
(Reuters) – LNG exporter Venture Global on Wednesday slashed the valuation it was seeking from its U.S. initial public offering to as much as $65.33 billion, significantly lower than the more than $100 billion it had initially aimed. The company also lowered its offer price, effectively increasing the number of shares on sale against the … Read more
(Reuters) – Halliburton on Wednesday warned of softer activity in North America this year even as the oilfield giant beat analysts’ estimates for fourth-quarter profit helped by higher demand for drilling and pressure pumping services in the North Sea and Asia. The tepid outlook echoed that of rival Schlumberger, who flagged a flat 2025 revenue … Read more
Suppliers rush to push out as much oil as possible as it’s more valuable now than in the future Bloomberg News A flood of Canadian oil is heading south to the United States to beat President Donald Trump’s threatened tariffs. Enbridge Inc.’s Mainline, the largest oil export pipeline from Canada to the U.S., will cut the volumes of … Read more
(Reuters) – U.S. President Donald Trump’s return to the White House has been met with both relief and disappointment across world markets as investors try to work out what the next four years will bring. “The approach will be chaotic, unpredictable, spur of the moment and driven by Trump himself,” said Russel Matthews, senior portfolio … Read more
(Reuters) – Infinity Natural Resources is targeting a valuation of up to $1.24 billion in its initial public offering, joining a bunch of energy industry companies that have rushed to list their shares in recent months. The company, which first filed its IPO paperwork in October, said on Tuesday it is aiming to raise up … Read more
(Reuters) – U.S. President Donald Trump has ended the moratorium on new liquefied natural gas export permits imposed by his predecessor Joe Biden in January 2024. Trump targeted the LNG industry with an executive order on the first day, part of a series of planned policy moves to encourage more U.S. energy production. Biden paused … Read more
(Reuters) – The pace of U.S. upstream public-to-public mergers could slow in 2025 from their recent average of five per year along with a fall in deal sizes, according to a report from energy analytics firm Enverus that was released on Tuesday. The consolidation trend in the U.S. energy sector, which triggered deals amounting to … Read more
Summary • Oil benchmarks Brent and WTI stable • Trump discussed a 10% tariff on Chinese goods from Feb. 1 • Rare winter storm impacting US Gulf Coast operations Jan 22 (Reuters) – Oil prices held steady on Wednesday, with traders closely watching President Donald Trump’s proposed tariffs and the potential impact of the national … Read more
(Reuters) – Saudi Arabia’s foreign minister said on Tuesday he did not see Donald Trump’s new administration increasing the risk of an Israel-Iran conflict, addressing an issue the region has feared since the start of Israel’s war in Gaza. Prince Faisal bin Farhan Al Saud also said in Davos that he hoped President Trump’s approach … Read more
AUSTIN, Texas (Jan. 21, 2025) — Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, is releasing its 2025 Global Energy Outlook, an e-book focused on pivotal North American and international energy landscape trends and opportunities expected this year. Enverus Intelligence® Research (EIR) experts believe the intersection of power and gas will … Read more
Deep freeze threatens transportation and energy across the US Electric grids brace for surging demand as temperatures drop A cold blast gripping the US South threatens to bring record-breaking snowfall to New Orleans and Houston and a deep freeze that endangers oil and natural gas output and electrical grids. Snow and sleet began falling Monday … Read more
Summary • Will wait and see impact of sanctions on Russia tankers • Kingdom takes market balance into account when setting output • Looking to expand LNG position globally (Reuters) – Saudi oil giant Aramco’s Chief Executive Amin Nasser said on Tuesday he sees the oil market as healthy and expects an additional 1.3 million … Read more
Summary • Trump says he is considering 25% tariffs on Mexico and Canada from February • President declares sweeping plan to maximise US oil production • U.S. will “probably” stop buying Venezuelan oil, Trump says (Reuters) – Oil prices fell on Tuesday as investors assessed U.S. President Donald Trump’s plans to apply new tariffs later … Read more
(Reuters) – U.S. President Donald Trump issued a flurry of orders within hours of his inauguration on Monday intended to boost the nation’s already record-high oil and gas production and unwind former President Joe Biden’s climate agenda. Here are some of the actions Trump took on his first day: ENERGY EMERGENCY Trump declared a national … Read more
President threatens duty for fentanyl, undocumented migration Trump speaks in first Oval Office comments after inauguration President Donald Trump said he planned to enact previously threatened tariffs of as much as 25% on Mexico and Canada by Feb. 1, reiterating his contention that America’s two immediate neighbors are allowing the flow of undocumented migrants and drugs … Read more
Orsted sees higher costs on rates, New York wind farm delivery Trump has vowed to impede the growth of US wind industry By Will Mathis Orsted A/S recorded a 12.1 billion-krone ($1.7-billion) hit on its earnings as the costs of offshore wind farms, particularly in the US, keep rising. The setback is the latest in … Read more
President Donald Trump has lifted a moratorium on new US licenses to export liquefied natural gas, making good on a campaign pledge to rescind the measure enacted by his predecessor. The directive, included in a broad executive order on energy, orders the Energy Department to resume reviewing applications for new permits. That was halted by … Read more
President issues raft of orders after taking office Monday Directives underscore commitment to ending Biden-era policies President Donald Trump launched a sweeping overhaul of US energy policy hours after taking office Monday, putting the weight of the federal government behind fossil-fuel production and pulling back from the fight against climate change. Trump initiated the shift in a … Read more
Trump has long criticized turbines as bird-killing eyesores President Donald Trump ordered a broad assault on US offshore wind development Monday, including a freeze in permitting the massive renewable power projects despite warnings from developers it imperiled jobs from coast to coast. Trump also ruled out the sale of new wind leases across all of the nation’s … Read more
Action seen delivering on his vow to unleash American energy Biden had blocked new offshore oil leases in 625 million acres Photographer: Eric Thayer/Bloomberg US President Donald Trump revoked offshore oil and gas leasing bans that effectively blocked drilling in most US coastal waters as he made sweeping moves his first hours in office to unleash American … Read more
(Reuters) – Donald Trump plans to issue a flurry of executive orders and directives after he is sworn in as U.S. president on Monday to put his stamp on his new administration on matters ranging from energy to immigration. Two sources familiar with the planning said more than 100 such orders and directives could be … Read more
Presidential memo stops short of calling for new tariffs Trump’s call for national emergency at Mexico border hits peso By Cecile Gutscher and Isabelle Lee Relief that Donald Trump will hold off from imposing China-specific tariffs on his first day in office propelled US equity futures higher on Monday. The dollar slumped. Trump was sworn … Read more
HOUSTON, Jan 20 (Reuters) – North Dakota’s oil production was estimated to be down by between 125,000 barrels per day (bpd) and 150,000 bpd due to extreme cold weather and related operational challenges, the state’s pipeline authority said on Monday. North Dakota is the third-largest oil-producing state in the country and the impacted production represents … Read more
(Reuters) – U.S. natural gas futures dropped to a near one-week low in holiday-thinned trade on Monday on forecasts of less cold weather starting late January, even as spot rates climbed as frigid cold conditions for most of the U.S. boosted demand for heating. Front-month gas futures for February delivery on the New York Mercantile … Read more
I’ve spent the last 18 months compiling the highest-leverage ways to unleash American energy. Here are the results. By Alex Epstein I’ve spent the last 18 months talking to the some of the smartest energy researchers, lawyers, policymakers, and business leaders about the highest-leverage ways to unleash American energy. Here’s the result: 5 goals, 24 … Read more
Unlike Joe Biden, the incoming president is overtly pro-fossil fuels. But the US oil and gas industry still sees risks ahead. Welcome to our guide to the commodities powering the global economy. Today, senior reporter Jennifer Dlouhy writes about what lies ahead for the US oil and gas industry under Donald Trump. The US will … Read more
Green investments stalled due to policy uncertainty, says BNEF 377,000 tons of blue hydrogen capacity may be online by 2025 The US hydrogen economy will likely rely on natural gas and carbon capture technologies rather than green energy in Donald Trump’s second term, according to BloombergNEF. Billions of dollars of investment have stalled in 2024 waiting for the Biden … Read more
Investors are warming up to the sector with an eye on Big Tech demand. By Liam Denning Let it rip.Photographer: Rebecca Droke /AFP New Yorkers bowing their heads into a cutting wind is typically a bullish sign for natural gas prices, and this January is no exception. The rally extends beyond immediate conditions, though, with … Read more
President-elect to invoke powers on day one: people familiar Actions set to touch full spectrum of the US energy industry Bloomberg News President-elect Donald Trump is poised to invoke emergency powers as part of his plan to unleash domestic energy production while seeking to reverse President Joe Biden’s actions to combat climate change, according to … Read more
Summary • New US sanctions hit near-term supply and ship availability • Trump could relax curbs for accord on Ukraine, analysts say • Israel and Hamas ceasefire helps to keep a lid on prices Jan 20 (Reuters) – Oil prices were steady on Monday as traders awaited U.S. President-elect Donald Trump’s inauguration in the hope … Read more
WASHINGTON — The looming threat of devastating tariffs slapped against Canada hangs over president-elect Donald Trump’s return to the White House Monday. Trump is preparing more than 100 executive orders. It’s unclear what is in the massive package and how many will be signed immediately. Here are five things to watch for out of the … 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 to the lowest since December 2021, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, … Read more
(Reuters) – The U.S. Federal Reserve announced on Friday it had withdrawn from a global body of central banks and regulators devoted to exploring ways to police climate risk in the financial system. In a statement, the Fed said it was exiting the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) … Read more
Summary • Biden announced ban on Jan. 6, saying it helps fight climate change • Trump says he will reverse it • Republican-led states joined by trade groups in their lawsuit (Reuters) – A group of Republican-led states filed a lawsuit on Friday challenging a ban announced by outgoing Democratic U.S. President Joe Biden earlier … Read more
The U.S. Federal Trade Commision (FTC) said on Friday it had approved a consent order to resolve antitrust issues concerning Chevron’s $53 billion takeover of Hess. According to the order, John Hess, CEO of the oil and gas producer, will be barred from joining the combined company’s board over allegations that he communicated with oil … Read more
U.S. natural gas demand is on track to reach a record high next week as extreme cold hits the U.S., stressing power grids for a second straight year on the day after the Martin Luther King Jr. Day holiday weekend. Gas futures touched two-year highs this week ahead of the freeze, while spot prices at … Read more
The L.A. wildfires have taken at least 27 lives and destroyed thousands of homes As the smoke clears from devastating Los Angeles wildfires, efforts to clean up the affected areas are being complicated by burnt-out electric and hybrid vehicles and home-battery storage systems. Lithium batteries from Tesla Inc., along with those from other carmakers, have … Read more
As of late Thursday, a few dozen people were at a temporary evacuation centre This image from video shows flames rising after a major fire erupted Thursday afternoon at the Moss Landing Power Plant, located about about 124 kilometres south of San Francisco, Thursday, Jan.16, 2025. Photo by KSBW via AP MOSS LANDING, Calif. — … Read more
HOUSTON/WASHINGTON, Jan 17 (Reuters) – Oilfield service provider SLB (SLB.N), opens new tab on Friday said its current business in Russia still aligns with U.S. sanctions issued this month, but that revenue in the country was declining. The world’s largest oilfield service company is one of the few Western firms to remain in Russia after … Read more
Global energy storage capacity has tripled in recent years, thanks to an industry that barely existed a decade ago. Illustration: Jay Daniel Wright for Bloomberg Businessweek By David R Baker Inside an unmarked stucco building in a Silicon Valley office park, more than 1,000 black metal cabinets, each about the size of a fridge, line … Read more
Reversing Biden’s licensing pause clears DOE to give approvals Several major natural gas export projects could move ahead President-elect Donald Trump has vowed to lift the Biden administration’s moratorium on new permits to export liquefied natural gas on his first day in office next week. The promised reversal is key for a number of US projects hanging … Read more
Summary • Brent up 1.3%, WTI adds 1.7% in the week • Concerns about more supply disruptions as Trump returns to power • Potential halt to Houthi attacks on shipping in focus after Gaza ceasefire deal • US oil rig count falls by two (Reuters) – Oil prices settled lower on Friday but notched their … Read more
By Ernest Scheyder Loan increased due to inflation and bigger lithium deposit Rhyolite Ridge to produce 22,000 metric tons of lithium annually Biden administration confident US lithium needs can be met by by 2030s Shares of ioneer gain more than 15% Jan 17 (Reuters) – The U.S. Department of Energy has finalized a $996 million … Read more
(Reuters) – Oil operators in North Dakota, the third-largest oil producing U.S. state, are operating fewer rigs than last month, the state’s Industrial Commission said on Friday. The rig count has dropped to 31 from 37 in December, said Nathan Anderson, director of the North Dakota Department Of Mineral Resources. Active frac crews remain at … Read more
(Reuters) – U.S. President-elect Donald Trump, after his inauguration on Monday, is expected to swiftly usher in a wide range of tariffs, which could dramatically upend the movement of goods and services in coming years. Trump has made tariffs, which were key to American tax revenue collection in the 19th century, a primary plank of … Read more
(Reuters) – U.S. natural gas futures dropped about 5% on Friday from a two-year high in the prior session on forecasts for milder weather in late January and early February that should cut demand for gas for heating. This weekend, however, extreme cold weather over the Martin Luther King Jr. and Inauguration Day holidays was … Read more
(Reuters) – The International Monetary Fund has lowered its 2025 GDP growth projection for Saudi Arabia to 3.3%, mainly due to extended oil production cuts, it said on Friday in the latest update to its global outlook. It also trimmed its 2024 growth estimate for the Gulf state to 1.4%. In its October Regional Economic … Read more
(Reuters) – A potential increase in U.S. fossil fuels production and liquefied natural gas exports under Donald Trump’s incoming presidency could result in lower fuel prices, benefiting Japan, the head of the country’s utilities federation said on Friday. Trump has made clear he intends to swiftly lift a moratorium on new LNG export permits imposed … Read more
(Reuters) – The Kremlin said on Friday it does not expect the United States to soften its position on sanctions against Russian oil once President-elect Donald Trump takes office, despite his administration’s readiness for dialogue on the Ukraine war. Kremlin spokesman Dmitry Peskov was commenting on remarks by Trump’s choice for Treasury Secretary, Scott Bessent, … Read more
Summary Q4 adjusted profit 92 cents per share vs forecast 90 cents Q4 revenue $9.28 billion vs forecast $9.18 billion Shares up more than 2% in premarket trade (Reuters) – SLB (SLB.N), opens new tab raised its quarterly dividend and accelerated share repurchases on Friday after the oilfield services provider posted better than expected fourth-quarter … Read more
(Reuters) – President-elect Donald Trump’s pick for secretary of the interior, Doug Burgum, will tell lawmakers during his nomination hearing on Thursday that he will vigorously pursue Trump’s goals of maximizing energy production from America’s public lands and waters, calling it key to national security. The comments signal a coming sharp turn in policy after … Read more
Doug Burgum tapped to lead Interior Department, energy council Former governor made his fortune in accounting software Bloomberg News The US risks forfeiting a global competition to dominate artificial intelligence if it doesn’t build more reliable, always-on electricity to supply the industry, President-elect Donald Trump’s pick to lead the Interior Department warned Thursday. Doug Burgum, the … Read more
Summary • Brent up 2.4% so far this week, WTI adds 3.5% • Concerns about more supply disruptions as Trump returns to power • Potential halt to Houthi attacks on shipping in focus after Gaza ceasefire deal (Reuters) – Oil prices rose on Friday, on course for a fourth consecutive week of gains, as the … Read more
‘Previous administrations have viewed energy as a liability’ Chris Wright runs a Colorado fracking services company Bloomberg News Donald Trump’s choice for energy secretary said the US should expand production of fossil fuels along with nuclear power, geothermal and other technologies to make the nation’s energy more reliable and affordable. “The security of our nation … Read more
Doug Burgum tapped to lead Interior Department, energy council Former governor made his fortune in accounting software By Jennifer A Dlouhy The US risks forfeiting a global competition to dominate artificial intelligence if it doesn’t build more reliable, always-on electricity to supply the industry, President-elect Donald Trump’s pick to lead the Interior Department warned Thursday. … Read more
(Reuters) – U.S. Interior Secretary nominee Doug Burgum told lawmakers during his confirmation hearing on Thursday that permitting reform is needed to speed energy projects, particularly to boost power production. “We’ve got to get to work in permitting reform and speeding permitting right now,” he said. “Electricity is at the brink. Our grid is at … Read more
(Reuters) – Shares of Flowco Holdings opened nearly 21% above the initial public offering price in their market debut on Thursday, giving the oilfield services provider a market value of about $2.55 billion. The company’s shares opened at $29 apiece, compared with the IPO price of $24. Hopes of a friendlier regulatory environment for deals … Read more
(Reuters) – U.S. natural gas storage is on track to end the November-March winter withdrawal season at a three-year low of 1.811 trillion cubic feet (tcf) on March 31, 2025, according to analysts’ estimates. That compares with an eight-year high of 2.306 tcf of gas in storage at the end of the winter withdrawal season … Read more
(Reuters) – President-elect Donald Trump’s pick for Treasury Secretary, Scott Bessent, said he “100%” supports raising sanctions on Russian oil producers if the future president requests doing so. Bessent told U.S. senators on the Senate Finance Committee that he believes the Russian sanctions from the Biden administration “were not fulsome enough.” “I think if any … Read more
BP to cut 4,700 staff this year Another 3,000 contractor positions to be cut CEO aims to cuts at least $2 bln in costs by 2026 (Reuters) – BP will cut over 5% of its global workforce, it said on Thursday, as part of CEO Murray Auchincloss’ efforts to reduce costs and rebuild investor confidence … Read more
By Curtis Williams and Jarrett Renshaw HOUSTON, Jan 15 (Reuters) – U.S. President-elect Donald Trump plans to make it easier for some producers of liquefied natural gas (LNG) to seek export permit renewals, according to two sources with knowledge of the plan. Trump will likely include the change in an executive order on LNG that … Read more
(Reuters) – The U.S. Energy Department’s loan office on Thursday announced $22.92 billion in conditional financing for several energy utilities across a dozen states. The financing, if finalized, will come through the energy infrastructure reinvestment program at the department’s Loan Programs Office (LPO) created under President Joe Biden’s signature climate legislation, the Inflation Reduction Act. … Read more
More than 450,000 kilometres of pipelines link Canada and the U.S. – enough to circle the Earth 11 times By Deborah Jaremko Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter As U.S. imports of Canadian oil barrel through another new all-time high, leaders on both sides of the border are … Read more
“This time it’s different” is a well-worn cliché that seems to be getting another whirl with the latest U.S. sanctions against Russia’s crude oil exports. Oil prices jumped in the wake of the new measures aimed at preventing Russia from shipping crude using a so-called “dark fleet” of tankers. It does seem strange an industry … Read more
A judge has dismissed New York City’s lawsuit alleging that Exxon Mobil, BP and Shell were liable for misleading the public about their products, and their commitment to renewable energy and fighting climate change. In a decision on Tuesday, state Supreme Court Justice Anar Patel in Manhattan rejected the city’s argument that the oil companies should … Read more
(Reuters) – Flowco Holdings has raised $427.2 million after pricing its U.S. initial public offering above its targeted range, the oilfield services provider said on Wednesday. Flowco priced its offering of 17.8 million shares at $24 each. The company had marketed to list its shares in the range of $21 and $23. Strong equity markets, … Read more
By Shariq Khan Colonial crews still searching for source of suspected gasoline leak in Georgia Line 1 outage duration on par with Colonial shutdown in 2021 due to cyberattack Market impact limited by high stockpiles, refinery output NEW YORK, Jan 15 (Reuters) – Colonial Pipeline’s main U.S. gasoline artery is expected to remain shut through … Read more
By Tom Hals Victims sue Southern California Edison under unique legal doctrine Inverse condemnation allows claims without proving utility’s negligence Wildfires expected to be costliest ever in US Jan 15 (Reuters) – Victims of the Los Angeles wildfires, likely the costliest in U.S. history, are seizing upon a unique California legal doctrine that allows them … Read more
25 policy changes to unleash American energy By Alex Epstein It may seem impossible, but 4 years from now America can have Record oil and gas production Cheap, plentiful, reliable electricity High environmental quality” Low climate danger A nuclear renaissance For well over a year I’ve been working on an Energy Freedom Plan that can … Read more
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COMMENTARY: Why Congress’s New Budget Should Eliminate All IRA “Tax Credits” – Alex Epstein