Investors rushed to lock in a spike in oil prices this week, resulting in a record volume of energy futures and options contracts changing hands on Monday, the first trading day after Israel and the U.S.bombed Iran and Tehran retaliated. Hedging provides traders with opportunities to profit in times of volatility, and can help producers … Read more
(Reuters) – Venezuela’s oil exports fell 6.5% in February from a month earlier to some 737,000 barrels per day as more shipments to the United States and Europe could not fully offset the loss of what used to be the OPEC country’s main market, China, according to vessel monitoring data and documents from state company … Read more
(Reuters) – President Donald Trump said on Tuesday he had ordered the United States Development Finance Corporation to provide insurance and guarantees for the financial security of all maritime trade, including oil tankers, traveling through the Gulf region. He made the comments in a Truth Social post. Reporting by Bhargav Acharya and Ryan Patrick Jones … Read more
By Niccolo Conte | Graphics/Design: Anna Diederichs Key Takeaways China receives 37.7% of all oil exports that pass through the Strait of Hormuz, the most of any country. Asian countries are most affected by a closure of the strait, receiving 89.2% of the Strait’s crude oil and condensate flows. The Strait of Hormuz is one … Read more
(Reuters) – President Donald Trump will review a set of policy options on Tuesday aimed at controlling energy prices during the escalating Middle East conflict, including a proposal for the U.S. government to help oil tankers in the region obtain insurance, two sources said. Global crude prices have spiked since Israeli and U.S. forces began … Read more
(Reuters) – Iraq has cut oil production by nearly 1.5 million barrels a day and those cuts could widen to more than 3 million bpd within days as the country runs out of storage and cannot export crude due to the Iran crisis, two Iraqi oil officials told Reuters on Tuesday. As of Tuesday, Iraq … Read more
(Reuters) – China is the world’s largest energy importer and would therefore appear vulnerable to the surge in crude oil and natural gas prices from the conflict between Israel and the United States against Iran. But the opposite is most likely the case, with China’s vast stockpile of crude a cushion against price spikes, meaning … Read more
(Reuters) – Saudi oil giant Aramco is attempting to reroute some of its crude exports to the Red Sea to bypass the Strait of Hormuz where the risk of attacks has slowed shipping to a near halt, sources said on Tuesday. The world’s largest oil firm hopes to avert production cuts by rerouting oil to … Read more
(Reuters) – U.S. natural gas futures jumped about 6% to a two-week high on Tuesday on soaring oil and gas prices around the world as the U.S.-Israeli war against Iran widened across the Middle East region, disrupting the movement of energy supplies. Front-month gas futures for April delivery on the New York Mercantile Exchange rose … Read more
So far, excess supplies elsewhere have helped limit the oil price surge Oil surged for a second day as the United States and Israel stepped up their war against Iran, with the sprawling conflict’s impact on energy assets in the Persian Gulf continuing to grow. Saudi Arabia is exploring the option of delivering more barrels … Read more
Saudi Arabia produces about 10 million barrels a day of crude, with exports rising to about 7.2 million a day last month By Serene Cheong, Yongchang Chin, Salma El Wardany and Rakesh Sharma Saudi Aramco is exploring the option of delivering more cargoes to Yanbu, a port on the Red Sea that’s situated outside the … Read more
CALGARY, Alberta (Mar. 3, 2026) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the leading energy data analytics platform, has released a new analysis examining the energy market implications of U.S. military strikes on Iran, warning that risks to oil and liquefied natural gas (LNG) supply chains have increased meaningfully and could drive sharp price … Read more
Reuters If the Strait of Hormuz were completely blocked, causing supply to fall by 20%, the oil price would likely rise to over $100 per barrel, Commerzbank said in a note on Tuesday. The bank also added that a prolonged conflict could lead to supply difficulties and bottlenecks for aluminium, with a corresponding impact on … Read more
(Reuters) – Higher oil prices due to the Iran war are increasing prices of jet fuel, which accounts for a big portion of airlines’ costs. Brent crude oil rose above $80 per barrel on Tuesday on worries about disrupted supply. Some airlines use futures and options to hedge against price increases. They also try to hedge against value changes in … Read more
Summary Hormuz shut for fourth day, five tankers hit Qatar shuts gas output, Saudi refinery stops US gasoline prices rise above $3/gallon Bessent, Wright to announce US plans to mitigate oil spike (Reuters) – Global oil and gas prices jumped on Tuesday as the U.S.-Israeli war on Iran halted energy exports from the Middle East, … Read more
Summary Brent and WTI benchmarks gain more than $4 Vessels avoid Strait of Hormuz as freight rates soar Crude prices to remain elevated over coming days, say analysts (Reuters) – Crude oil benchmarks rose about 8% on Tuesday, soaring for a third session as the U.S.-Israeli conflict with Iran widens, disrupting fuel shipments and heightening … Read more
India, a fast-growing oil consumer, is the country most vulnerable to crude supply shocks if the Middle East conflict leads to a prolonged disruption in shipments from the region, mainly because of its thin reserves, analysts said. Both China and India, Asia’s top energy consumers, source around half of their crude imports from the Middle … Read more
Abel emphasizes trust, Berkshire values Analysts say Abel struck the right tone Berkshire reports declining profit for Q4, 2025 (Reuters) – Berkshire Hathaway’s new Chief Executive Greg Abel moved to put his stamp on the conglomerate with his first annual letter to shareholders on Saturday, pledging to maintain its “fortress-like” balance sheet and uphold the … Read more
By Gabriel Cohen | Article/Editing: Niccolo Conte | Graphics/Design: Miranda Smith Key Takeaways Hong Kong ranks first with total debt equal to 380% of GDP, followed by Japan at 372% The U.S. ranks seventh at 264%, led by government debt (123%) and corporate debt (73%) How indebted is your country today? Based on the latest … Read more
Reuters U.S. exports of liquefied natural gas rose more than 17% last month from a year earlier as Venture Global’s Plaquemines plant in Louisiana ramped up production and Cheniere brought on more units at its Corpus Christi facility, preliminary data from financial firm LSEG showed. The U.S. is the world’s largest LNG exporter, and there … Read more
(Reuters) – Iran’s Revolutionary Guards said a fuel tanker was burning in the Strait of Hormuz after being hit by two drones, Iranian news agencies reported on Monday. The strait is the world’s most vital oil export route, connecting the biggest Gulf oil producers, such as Saudi Arabia, Iran, Iraq and the United Arab Emirates, … Read more
(Reuters) – While the U.S. has no plans yet to sell oil from the Strategic Petroleum Reserve, the world’s largest emergency oil stockpile, presidents have long tapped it during times of crisis in attempts to control fuel prices for U.S. consumers. The administration of President Donald Trump is not currently discussing selling oil from the … Read more
(Reuters) – Selling oil from the U.S. Strategic Petroleum Reserve after the U.S. and Israeli attacks on Iran is ‘not currently being discussed’, a U.S. source said on Monday. “Oil markets remain well supplied”, the source said. The SPR, held on the coasts of Louisiana and Texas, is the world’s largest emergency oil stockpile, currently … Read more
(Reuters) – The insurance cost of shipping goods through the Middle East Gulf has surged as much as five times in the past 48 hours since the U.S. and Israeli began airstrikes on Iran, with most underwriters not offering cover for any sailings through the Strait of Hormuz, insurance industry sources said on Monday. War … Read more
QatarEnergy has stopped production of liquefied natural gas (LNG) and related products following military attacks on its operating facilities in Ras Laffan Industrial City and Mesaieed Industrial City, the company said on Monday. The state-owned energy firm did not provide details on the extent of the damage or how long the suspension would last. QatarEnergy … Read more
(Reuters) – Insurance companies are cancelling war risk coverage for vessels in the Gulf as the widening Iran conflict disrupted shipping, leaving at least four tankers damaged, a seafarer killed and 150 ships stranded around the Strait of Hormuz. Shipping through the strait between Iran and Oman, which carries around one fifth of oil consumed … Read more
Venture Global said on Monday its adjusted core profit nearly tripled in the fourth quarter, due to higher LNG sales volumes at the Plaquemines Project in Louisiana, sending its shares up nearly 9% in premarket trading. In 2025, the U.S. became the first country to export more than 100 million metric tons (mmt) of liquefied … Read more
Clyde Russell (Reuters) – The OPEC+ decision to lift crude oil output by 206,000 barrels per day (bpd) from April is probably the least consequential decision the group has made in nearly a decade of existence. Adding about 0.2% of global oil demand to supply a month from now is little more than a symbolic … Read more
Summary OPEC+ agrees to raise output by 206,000 bpd US attacks on Iran kill Khamenei, Gulf oil flows disrupted Saudi Arabia and UAE have already raised exports, sources say OPEC has little spare production capacity, analysts say Hormuz needs to reopen for oil to reach markets, analysts say (Reuters) – OPEC+ agreed a modest oil … Read more
Summary South Bow’s plan to revive KXL needs additional links in US Proposal leverages existing infrastructure in Canada Environmental, Indigenous opposition likely for South Bow’s pipeline expansion (Reuters) – A proposal led by Canadian company South Bow to revive parts of the cancelled Keystone XL oil pipeline could increase Canada’s crude exports to the U.S. … Read more
(Reuters) – U.S. average retail gasoline prices are set to break above $3 a gallon on Monday for the first time in more than three months as the conflict between the United States and major oil producer Iran interrupts global oil flows, analysts said. That’s potentially a major risk for President Donald Trump and his Republican Party … Read more
At least three tankers were damaged off the Gulf coast after U.S. and Israeli strikes on Iran triggered Iranian retaliation that put merchant ships at risk of collateral damage, shipping sources and officials said on Sunday. Risks to commercial shipping have surged in the past 24 hours, with more than 200 vessels including oil and … Read more
Summary Oil rises as much as 13%, but less than some analysts expected Israel hits Tehran again after strikes killed Khamenei Hundreds of ships have dropped anchor in Gulf, data shows European gas benchmark rises more than 25% at peak (Reuters) – Oil and natural gas prices surged on Monday as Israeli and U.S. strikeson … Read more
Takeaways by Bloomberg AI The US reported the first Americans killed in a war with Iran as each side pledged escalating strikes in the days ahead. Iran’s retaliation has spread across the region in the wake of massive missile attacks that killed Supreme Leader Ayatollah Ali Khamenei and other senior officials. Oil and other markets … Read more
The U.S. is not considering releasing oil from its strategic petroleum reserve in the aftermath of strikes on Iran, the Financial Times reported on Saturday, citing a Department of Energy official familiar with the matter.There have been “no discussions at all about the SPR,” the official told the FT, when questioned about steps the Trump … Read more
March 1, 2026 Russian President Vladimir Putin on Sunday condemned the killing of Iranian Supreme Leader Ayatollah Ali Khamenei as a “cynical” murder but he offered little in public to Moscow’s ally beyond condolences. Khamenei is the third Russian ally to be toppled in the past 15 months, following the falls of Moscow-backed leaders in … Read more
At least 150 tankers, including crude and LNG vessels, dropped anchor in open Gulf waters beyond the Strait of Hormuz and dozens more were stationary on the other side of the chokepoint, shipping data showed on Sunday, after U.S. and Israeli strikes on Iran plunged the region into turmoil. The tankers were clustered in open … Read more
Brent crude jumped 10% to about $80 a barrel over the counter on Sunday, oil traders said, while analysts predicted that prices could climb as high as $100 after U.S. and Israeli strikes on Iran plunged the Middle East into a new war.“While the military attacks are themselves supportive for oil prices, the key factor … Read more
The United States and Israel launched strikes on Iran on Saturday, targeting its leadership and plunging the Middle East into a new conflict that President Donald Trump said would end a security threat and give Iranians a chance to topple their rulers. The strikes put nearby oil-producing Gulf Arab countries on edge as fears of … Read more
Some oil majors and top trading houses have suspended crude oil and fuel shipments via the Strait of Hormuz amid ongoing U.S. and Israeli attacks on Iran and Tehran’s retaliation, four trading sources said on Saturday “Our ships will stay put for several days,” one top executive at a major trading desk said. (Reporting by … Read more
The United States and Israel launched an attack on Iran on Saturday. The attack could disrupt oil and gas output and cause damage to energy infrastructure in the Middle East. Following are facts on Iran’s energy industry, exports, and the impact of Western sanctions: OIL PRODUCTION AND INFRASTRUCTURE Iran, the third largest producer in the … Read more
The official White House X account released remarks from President Trump early this morning, in regards to the United States combat operations in Iran, which began overnight. The President appears to be seeking regime change in Iran, and said to the Iranian people: “When we are finished, take over your government. It will be yours … Read more
OPEC+ will discuss the possibility of a larger output increase when key members meet on Sunday, after Israel carried out airstrikes on targets in Iran, Bloomberg News reported on Saturday, citing a delegate.
(Reuters) – The United States and Israel launched strikes on Iran on Saturday, targeting its leadership and plunging the Middle East into a new conflict that President Donald Trump said would end a security threat and give Iranians a chance to topple their rulers. The strikes put nearby oil-producing Gulf Arab countries on edge as fears of escalation grew, … Read more
By Timothy Gardner WASHINGTON, Feb 27 (Reuters) – Cheniere Energy Inc (LNG.N) disclosed this week that it got a $370 million tax break from the Trump administration for burning liquefied natural gas in its massive tankers, a credit critics said was meant for far smaller boats. The company said on Thursday in financial disclosures that … Read more
Local media reports strikes are hitting Iran nationwide U.S. and Israel launch an attack on Iran, as U.S. President Donald Trump confirms ‘major combat operations’ are underway. We have launched a live page with all the latest developments. The latest: Trump says U.S. has launched ‘major combat operations’ in Iran. 1st apparent strike hit near … Read more
By Erwin Seba US-Iran talks end with no deal but signs of progress Technical discussions scheduled for Vienna next week Brent and WTI benchmarks trade at multi-month highs UAE, Saudi to increase output in April, sources say HOUSTON, Feb 27 (Reuters) – Oil prices rose about 2% on Friday with traders bracing for supply disruptions … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in six weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by one to 550 in … Read more
NEW YORK, Feb 27 (Reuters) – U.S. oil production fell for the second consecutive month in December to its lowest level since June last year, while demand reached a multi-month high, the Energy Information Administration said on Friday. Crude oil output averaged 13.66 million barrels per day in December, down about 133,000 bpd from November, … Read more
Feb 27 (Reuters) – Barclays said Brent crude could rise to around $80 per barrel in the event of a material supply disruption, as U.S.-Iran tensions remain elevated. “While it is entirely possible that an escalation does not lead to a supply disruption and the $3-5/b risk premium in oil prices fades quickly, even a … Read more
CALGARY, Alberta, Feb. 27, 2026 (GLOBE NEWSWIRE) — Precision Drilling Corporation (“Precision” or the “Company”) (TSX:PD; NYSE:PDS) today announced that its common shares have been approved for dual listing on NYSE Texas, a fully electronic equities exchange headquartered in Dallas, Texas, which launched in March 2025. Precision will maintain its primary listing on the New York … Read more
(Reuters) – The shale revolution that made the United States the world’s top oil producer is taking shape in the Arabian Desert. Deep in the sands southeast of Saudi Arabia’s giant Ghawar oilfield, state oil company Aramco is pushing ahead with a natural gas megaproject that could boost the kingdom’s revenues by billions of dollars … Read more
Summary Companies Fusion backers hope to generate power in 2030s Technology would produce nuclear power without long-lived radioactive waste US regulator publishes draft rule on fusion energy WASHINGTON, Feb 26 (Reuters) – Fusion energy, an emerging technology that backers hope will one day generate electricity without producing long-lived radioactive waste, got a path toward … Read more
Summary Brent projected to average $63.85 per barrel in 2026 WTI projected to average $60.38 per barrel in 2026 For table of crude price forecasts, click (Reuters) – Supply risks from ongoing geopolitical tensions have prompted analysts to raise their oil price forecasts for the year, despite concerns that an oversupply will continue to weigh … Read more
By Weilun Soon, Serene Cheong, and Nicholas Lua Iran’s main oil export terminal at Kharg Island in the Persian Gulf. Photographer: Fatemeh Bahrami/Getty Images/Anadolu Rising tensions between the US and Iran have already driven oil prices to a six-month high. Oil traders are watching for any escalation that could disrupt crude production in Iran or … Read more
Summary US-Iran talks end with no deal but signs of progress Technical discussions scheduled for Vienna next week OPEC+ to consider oil output increase for April, sources say Oil prices rose more than $1 on Friday as traders remained on alert for potential supply disruptions after the United States and Iran extended nuclear talks. Brent … Read more
By Jack Dura Leaders and attorneys for several Greenpeace entities listen to a reporter’s question after a jury’s verdict at the Morton County Courthouse in Mandan, N.D., Wednesday, March 19, 2025. (AP Photo/Jack Dura) BISMARCK, N.D. (AP) — A North Dakota judge has said he will order Greenpeace to pay damages expected to total $345 … Read more
Sales under a flagship oil supply agreement between Venezuela and the U.S. are expected to reach $2 billion by the end of this month, U.S. Secretary of Energy Chris Wright told reporters in Texas on Thursday. The U.S. took control of Venezuela’s oil exports shortly after U.S. forces captured President Nicolas Maduro in early January, … Read more
Venezuela’s oil ministry has suspended 19 oil production-sharing contracts with private companies signed under the administration of President Nicolas Maduro, four sources with knowledge of the move told Reuters on Thursday. The suspension has had no impact on the country’s oil and gas output so far, the sources said. State oil giant PDVSA is selling … Read more
The Canadian oil-producing province of Alberta forecast a budget deficit of C$9.4 billion ($6.87 billion) for its 2026/27 fiscal year on Thursday, breaking its own rules on allowable deficit financing and blaming lower global crude prices that have walloped the government’s resource revenues. The outlook reflects Alberta’s vulnerability to commodity price fluctuations, prompting the provincial … Read more
Ron Bousso LONDON, Feb 26 (Reuters) – OPEC+ meets on Sunday to set its next production move amid heightened geopolitical friction affecting nearly a third of its output. That volatility may give the group cover to stick to its balanced-market narrative, even if the facts on the ground suggest otherwise. The group, which comprises the Organization of … Read more
(Reuters) – Democrats on the Senate Banking Committee on Tuesday blasted President Donald Trump for failing to ramp up sanctions to pressure Russia to end its four-year war in Ukraine, noting the European Union had designated nearly 900 targets in 2025 compared to just two for the U.S. In an analysis released on the fourth … Read more
(Reuters) – HOUSTON, Feb 25 – U.S. crude and distillate inventories rose while gasoline stocks fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 16 million barrels to 435.8 million barrels in the week ended February 20, the EIA said, compared with analysts’ expectations in a Reuters poll for a … Read more
Bloomberg News President Donald Trump is convening technology executives at the White House next week to sign pledges committing their companies to foot the electricity bill for energy-hungry data centres. Representatives of firms including Amazon.com Inc., Meta Platforms Inc., Microsoft Corp. and Google parent Alphabet Inc. are expected to attend a March 4 event with the president, a White House official said. Others on the invite … Read more
Summary US oil stockpiles rise by the most in three years US-Iran nuclear talks seek to avert military conflict Saudi Arabia boosts oil output (Reuters) – Oil prices fell on Thursday after the biggest jump in U.S. crude inventories in three years, with signs of weakness in the physical oil market also weighing on prices, … Read more
By Emma Sanchez A Tenaris frack set in the Vaca Muerta formation in Argentina, one of the world’s largest shale gas reservoirs. Source: Tenaris US fracking companies are increasingly sending their idle equipment overseas, finding new markets abroad as growth slows in the shale fields of Texas, New Mexico and elsewhere. Over the past two … Read more
(Reuters) – The U.S. Energy Department has offered a $26.54 billion loan to subsidiaries of Southern Co to increase grid reliability, the largest ever such financing by its loan office, the department said on Wednesday. The loans will save power customers in Georgia and Alabama more than $7 billion, the department said, without detailing how. … Read more
(Reuters) – Several countries have begun withdrawing dependents of diplomatic personnel and non-essential staff from some locations in the Middle East, or advising citizens to defer travel to Iran, amid rising tensions between Washington and Tehran. Here are some of the moves: AUSTRALIA: The government has told dependents of Australian diplomats in Israel and Lebanon … Read more
(Reuters) – OPEC+ is likely to consider raising its oil output by 137,000 barrels per day for April, three sources with knowledge of OPEC+ thinking said as the group prepares for peak summer demand and a price boost from tensions between the U.S. and OPEC member Iran. The resumption of output increases after a three-month … Read more
(Reuters) – U.S. crude oil imports from Venezuela rose to their highest since January 2025, the U.S. Energy Information Administration’s (EIA) said on Wednesday. Imports from Venezuela rose by 290,000 barrels per day (bpd) to 339,000 bpd in the week ended February 20, according to data from the EIA’s Petroleum Supply Report. Reporting by Nicole … Read more
(Reuters) – Saudi Arabia is increasing its oil production and exports as part of a contingency plan in case any U.S. strike on Iran disrupts supplies from the Middle East, two sources familiar with the plan said on Wednesday. The Saudi government media office did not immediately respond to a request for comment on the … Read more
CALGARY, Alberta (Feb. 25, 2026) Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy‑dedicated SaaS company that leverages generative AI across its solutions, released a new analysis examining how recently approved fast-track interconnection processes are reshaping U.S. power market reliability across the PJM, Midcontinent Independent System Operator (MISO) and Southwest Power Pool (SPP) … Read more
Ron Bousso (Reuters) – Big Tech’s race to dominate artificial intelligence may soon hit a nasty road bump as U.S. electricity grids struggle to keep pace with the big-spending hyperscalers. America’s technology giants, including Microsoft, Amazon, Alphabet and Meta, have in recent months announced plans to spend over $600 billion on AI in 2026 alone. The investment wave has already fuelled … Read more
Goa, India – GLJ Ltd. (“GLJ”) and Techno Canada Inc. (“TCI”) are pleased to announce the signing of a new joint venture agreement, GLJ WW Private Limited, formalized on January 27, 2026, at the opening day of India Energy Week 2026 in Goa. This joint venture brings together two firms with complementary strengths: certification, engineering studies, and evaluations. Building on that … Read more
By Julian Hast US natural gas futures settled down in thin trading, closing to the lowest in about five months as forecasts shifted warmer, indicating lower demand for the heating and power-plant fuel. Traders were also pricing in an increasingly low probability of an unexpected cold snap draining supplies as the winter heating season draws … Read more
(Reuters) – President Donald Trump said on Tuesday during his State of the Union address that his administration has told major technology companies they must build their own power plants for their data centers, a measure meant to protect consumers from rising bills. The announcement comes amid growing local opposition to energy-hungry data center projects … Read more
Summary US-Iran talks could prevent conflict and supply disruption Deal with US hinges on diplomacy, Iranian minister says US oil stocks rise and gasoline inventories fall, API data shows (Reuters) – Oil prices held around seven-month highs on Wednesday as investors weighed up the threat to oil supply from potential military conflict between the U.S. … Read more
(Reuters) – The oil industry needs crude prices to rise and sustain at $70 per barrel in order to grow output, executives said on Tuesday. U.S. oil production can be maintained at its current level in the $60 to $65 price range, said Vicki Hollub, CEO of U.S. oil producer Occidental, during an Energy Aspects … Read more
HOUSTON, Feb 24 (Reuters) – U.S. oil major Chevron (CVX.N) has sold its first cargo of Venezuelan crude oil to India’s Reliance Industries (RELI.NS) since December 2023, according to ship tracking data and two sources. Chevron (CVX.N) negotiated the Boscan crude cargo to Reliance this month, marking the first sale of the heavy oil, which … Read more
HOUSTON, Feb. 24, 2026 /PRNewswire/ — EOG Resources, Inc. (EOG) today reported fourth quarter and full-year 2025 results. The attached schedules for the reconciliation of Non-GAAP measures to GAAP measures, along with a related presentation, are also available on EOG’s website at http://investors.eogresources.com/investors. Fourth Quarter Highlights Oil, NGLs and natural gas production and total per-unit operating costs … Read more
Big trucks and engines are back among US automakers, even as electrics gain ground around the globe. By Keith Naughton and David Welch Detroit under Donald Trump has rediscovered its love of the big, roaring engine. By gutting climate regulations, the president has freed US automakers to sell as many gas-burning trucks and SUVs as … Read more
(Reuters) – In the ten years since the first export cargo of liquefied natural gas (LNG) left Texas, the United States has grown rapidly into the top supplier of the ultra-cooled fuel to world consumers. That dramatic expansion shows no sign of slowing down, with analysts and industry executives projecting that record U.S. LNG export … Read more
(Reuters) – Iran’s Foreign Minister Abbas Araqchi said on Tuesday that a deal with the U.S. was “within reach, but only if diplomacy is given priority”, days ahead of expected talks between the two sides in Geneva. “Iran will resume talks with the U.S. in Geneva with a determination to achieve a fair and equitable … Read more
Feb 24 (Reuters) – Alphabet’s (GOOGL.O) Google doubled down on efforts to secure power supply for its data centers across the country by entering into separate agreements with U.S. utilities, AES Corp (AES.N) and Xcel Energy (XEL.O), on Tuesday. Big Tech firms have been scouring for new, reliable and cleaner energy sources to power their … Read more
(Reuters) – Argentina’s shale oil resource could be similar in size to that of the Permian Basin, the top oilfield in the U.S., Continental Resources CEO Doug Lawler said on Tuesday. Argentina’s projections show that oil output could reach 1.5 million to 2 million barrels per day in the next few years, but the U.S. … Read more
Insights for developers and investors to navigate interconnection risk and accelerate portfolio and project success AUSTIN, Texas (Feb. 24, 2026) Enverus, the leading energy SaaS and analytics platform, has released its 2026 Interconnection Queue Outlook. The report delivers a comprehensive view of power generation and transmission projects seeking connection to the U.S. power grid. Interconnection queues … Read more
By Hadeel Al Sayegh Summary KPC seeks $7 billion by leasing oil pipelines, sources BlackRock, Brookfield, others show interest in KPC deal, sources KPC transaction could launch end of February, sources Feb 24 (Reuters) – National oil company Kuwait Petroleum Corporation (KPC) has held early stage talks with a large group of potential investors over … Read more
The vessel Sea Horse, expected to arrive in early March, is carrying much-needed fuels to Cuba Bloomberg News A ship believed to be carrying Russian fuels is on its way to Cuba, putting U.S. President Donald Trump’s sanctions to the test amid the island’s deepening energy crisis. The vessel Sea Horse, expected to arrive in early … Read more
The line from Canada to Wyoming could potentially piggyback off pipe laid for the cancelled project This Article and More by Meghan Potkins Here A major new oil pipeline proposed to carry crude from the Canadian border to a hub in Wyoming could potentially piggyback off of existing pipe laid for the cancelled Keystone XL project, … Read more
Ron Bousso (Reuters) – A serious military confrontation between the U.S. and Iran could trigger a major disruption in Middle East oil supplies. The vast oil reserves the U.S. and China hold could prove critical in containing it. For now, uncertainty dominates in this protracted standoff, with U.S. and Iranian officials continuing to hold indirect talks, as American military … Read more
U.S. natural gas futures rose about 1% to a one-week high on Monday on near-record LNG export flows and forecasts for more demand than previously expected over the next two weeks as another winter storm buries the U.S. Northeast in snow. Gas futures for March delivery on the New York Mercantile Exchange rose 4.3 cents, … Read more
U.S. power plants scheduled to be retired in 2026 could stay online longer, the Department of Energy’s research arm said on Monday, building on a trend that began last year as electricity use and prices hit record levels in some parts of the country. Across the U.S., some 11 gigawatts of power-generating capacity had been … Read more
(Reuters) – Oil prices have been a consistent disinflationary force for the U.S. and global economies since mid-2024. That may be about to change. Fueled by signs of a solid upturn in economic activity at the start of the year and bubbling U.S.-Iran tensions that could spark military conflict, Brent and West Texas Intermediate crude … Read more
Summary Both crude benchmarks hover near seven-month highs US-Iran tensions key market driver in near term, analysts say US tariff situation creating market uncertainty (Reuters) – Oil prices hovered near seven-month highs on Tuesday, with traders assessing risks to supply from any military escalation as another round of U.S.-Iran nuclear talks loomed. Brent crude futures … Read more
MIDLAND, Texas, Feb. 23, 2026 (GLOBE NEWSWIRE) Diamondback Stockholders, This letter is meant to be a supplement to our earnings release and is being furnished to the Securities and Exchange Commission (SEC) and released to our stockholders simultaneously with our earnings release. Please see the information regarding forward-looking statements and non-GAAP financial information included at … Read more
MIDLAND, Texas, Feb. 23, 2026 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback,” “we,” “our” or the “Company”) today announced financial and operating results for the fourth quarter and full year ended December 31, 2025. FOURTH QUARTER 2025 HIGHLIGHTS Average oil production of 512.8 MBO/d (969.1 MBOE/d) Net cash provided by operating activities of … Read more
Feb 23 (Reuters) – Dominion Energy (D.N) forecast annual profit below Wall Street expectations on Monday, but raised its five-year capital spending plan by nearly 30% as the utility ramps up its efforts to meet soaring electricity demand. U.S. utilities have been adding billions of dollars to their capital expenditure budgets amid extreme weather conditions … Read more
Reuters U.S. spot natural gas prices for Monday at the Waha Hub in the Permian Shale in West Texas closed in negative territory for a record 12th time in a row as pipeline constraints trap gas in the nation’s biggest oil-producing basin, forcing some energy firms to pay others to take gas associated with their … Read more
Spot prices for liquefied natural gas (LNG) in Asia have drifted lower despite solid demand in the top-consuming region and record imports by Europe. Throw in tensions in the Middle East and the threat to shipments from Qatar, the second-biggest exporter behind the United States, and the relaxed spot price seems incongruous. Part of the … Read more
(Reuters) – Goldman Sachs raised its Brent and West Texas Intermediate crude forecasts for the fourth quarter of 2026 by $6 to $60 and $56 respectively, citing lower OECD stocks, even as it continued to assume no Iran-related supply disruption and maintained its view of a surplus this year. For the year, it now expects … Read more
(Reuters) – The U.S. Commerce Department on Monday will reveal a preliminary decision on whether to impose anti-subsidy duties on solar cells and panels imported from India, Laos and Indonesia. The announcement is the first of two expected by the agency in the coming weeks in a trade case brought by a group representing a portion of … Read more
(Reuters) – ConocoPhillips is exploring a sale of some of its Permian Basin assets as part of a broader streamlining of its portfolio, Bloomberg News reported on Friday, citing people familiar with the matter. The assets, picked up over the years through deals with Concho Resources and Shell, are expected to fetch about $2 billion, … Read more
Crude output is expected to be relatively steady in North Dakota in February, the third-largest U.S. oil-producing state, a state regulator said on Monday, with little change expected in drilling activity. Operators are likely to hold their drilling rig count, an indicator of future output, near current operational levels of 26 for the year, said … Read more
Energy Transfer has terminated offtake agreements with some customers of its suspended Lake Charles liquefied natural gas project in Louisiana, according to a filing with the U.S. Securities and Exchange Commission on Thursday. Here are some details: * “Several LNG offtake agreements have been terminated based on the nonsatisfaction of the condition related to making … Read more
Summary Brent benchmark remains close to six-month highs Iran and US to hold third round of talks on Thursday Trump’s latest tariff measures rekindle economic uncertainty (Reuters) – Oil prices steadied on Monday as the U.S. and Iran prepared for a third round of nuclear talks, easing fears of potential conflict and partly offsetting economic … Read more
Summary Exxon oil and gas assets in Cuba were seized in 1960 Energy giant seeks compensation from Cuban entities Court will hear second case involving cruise lines A US law called the Helms-Burton Act in the spotlight (Reuters) – The U.S. Supreme Court will consider on Monday the scope of a law that lets American companies … Read more
The U.S. Supreme Court’s Friday decision to strike down trade tariffs imposed by President Donald Trump last year may ease costs for some oil producers and drillers, but experts and analysts told Reuters that broader energy flows would likely remain unchanged for now. The court’s ruling could reduce the cost of building LNG plants and … Read more
(Reuters) – TXNM Energy on Friday said the U.S. Federal Energy Regulatory Commission (FERC) had authorized the company’s acquisition by Blackstone Infrastructure. Last year, Blackstone agreed to acquire the utility company in an $11.5 billion deal, including debt. FERC concluded that there is “no evidence that either state or federal regulation will be impaired by the proposed … Read more
Summary Judge says evidence at trial supported verdict Autopilot-equipped Model S crashed into victims Tesla not available for comment, expected to appeal Feb 20 (Reuters) – A federal judge rejected Tesla’s request to overturn a $243 million jury verdict over the 2019 crash of an Autopilot-equipped Model S, which killed a 22-year-old woman and severely injured … Read more
Summary Oil prices hold near six-month high Strait of Hormuz supply risk fears US Supreme Court decision on tariffs has little effect on crude Traders and investors bet on rising prices: Saxo Bank (Reuters) – Brent crude prices rose in late-day short-covering on Friday as investors worried about U.S. military action, as President Donald Trump … Read more
By Anett Rios and Alien Fernandez HAVANA, Feb 20 (Reuters) – Cubans are scrambling to install solar panels on their homes, shops and vehicles to combat extended blackouts as Washington prevents oil shipments from reaching the Caribbean’s largest island, contributing to electricity generation shortfalls. U.S. sanctions and a deep economic crisis have for years made … Read more
(Reuters) – The U.S. Congress could vote as soon as next week on whether to block President Donald Trump’s ability to strike Iran without lawmakers’ approval, as the U.S. military prepares for a potential serious conflict with Iran if diplomatic efforts fail. Members of Congress, including a few of Trump’s fellow Republicans as well as … Read more
(Reuters) – U.S. energy firms this week kept the number of oil and natural gas rigs unchanged for a second week in a row, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, held steady at 551 in the … Read more
Summary Dept of Energy in talks with Indian govt on Venezuelan oil sale US made oil supply diversification central to India trade talks Interim trade deal effective April, India trade minister says NEW DELHI, Feb 20 (Reuters) – The United States is in “active negotiation” over the sale of Venezuelan oil to India, to help … Read more
By Grant Smith and Nayla Razzouk The conflicting positions of US President Donald Trump and major European governments came to the fore at a meeting of the west’s most important energy forecaster. For the first time in nine years, the International Energy Agency — created by developed nations in the 1970s to oversee energy security … Read more
Investment firms, including KKR & Co. and Energy Impact Partners, are scouting for possible acquisitions. By Coco Liu and Brian Kahn qw(g}0ld37k}ipd0dgh0fd5m_media_dl_1.png BloombergNEF Clean-energy dealmaking is showing signs of a comeback in the United States after last year’s sharp contraction. One of the first notable transactions that may occur is BlackRock Inc.’s Global Infrastructure Partners … Read more
CNN The Supreme Court on Friday ruled that President Donald Trump violated federal law when he unilaterally imposed sweeping tariffs across the globe, a striking loss for the White House on an issue that has been central to the president’s foreign policy and economic agenda. The decision is arguably the most important loss the second Trump administration has … Read more
(Reuters) – President Donald Trump warned Iran on Thursday that it must reach a deal over its nuclear program or “bad things” will happen, and appeared to set a 10-day deadline before the U.S. might take action. Amid a massive U.S. military buildup in the Middle East that has fueled fears of a wider war, … Read more
By Julian Hast EQT Corp. stands to pocket $1 billion in February alone as the natural gas producer reaps the benefits of its fortuitous position ahead of one of the steepest price rallies in the history of the US gas market last month. The second-largest US gas producer by volume entered 2026 almost entirely unhedged, … Read more
Summary Oil prices hold near six-month high Strait of Hormuz supply risk in focus Traders and investors bet on rising prices: Saxo Bank (Reuters) – Oil prices traded near six-month highs on Friday, poised for their first weekly gain in three weeks on growing concern over potential conflict after Washington said Tehran will suffer if it … Read more
By Jennifer A Dlouhy and Naureen S Malik US President Donald Trump’s plan for Japan to build a massive gas power plant in Ohio promises a flood of electricity in a region desperate for it. It also heralds risks for others eager to meet the demand — but without the same political support. The prospect … Read more
Reuters – The U.S. Energy Secretary Chris Wright gave the International Energy Agency on Thursday a one-year deadline to move away from its net zero climate-focused agenda or risk losing the U.S. as a member. In 2015 the U.S. and nearly 200 other countries signed the Paris Accords, an international pledge to limit global warming … Read more
By Curtis Williams and Shadia Nasralla US licenses enable Shell’s Dragon gas project progress Dragon project faced delays due to US policy shifts Shell aims to export gas via Atlantic LNG in Trinidad HOUSTON/LONDON, Feb 19 (Reuters) – General licenses for oil and gas exploration in Venezuela issued by the U.S. this month will allow … Read more
A drone view shows a property seized by authorities, where the authorities say they discovered a sophisticated tunnel used for large‑scale fuel theft from Mexico’s state energy company Pemex and for storing drugs, in Sayula, Mexico, February 18, 2026. REUTERS/Luis Cortes TEPETITLAN, Mexico, Feb 19 (Reuters) – Mexican authorities raided a tunnel used to steal … Read more
(Reuters) – Here are key facts about international oil companies in Venezuela, a country with vast oil reserves but dilapidated energy infrastructure. In the 2000s, then President Hugo Chávez expropriated assets from several foreign oil companies, strengthening state-owned PDVSA’s control over the country’s oilfields. After capturing President Nicolas Maduro in January, the United States eased … Read more
(Reuters) – U.S. product supplied of distillate fuel oil, a measure of demand for diesel and heating oil, rose in the previous week to 4.75 million barrels per day (bpd), the highest since January 2022, data from the Energy Information Administration showed on Thursday. Product supplied of distillate fuels rose about 304,000 bpd in the … Read more
(Reuters) – HOUSTON, Feb 19 – U.S. crude, gasoline and distillate inventories fell last week, the Energy Information Administration said on Thursday. Crude inventories fell by 9 million barrels to 419.8 million barrels in the week ended February 13, the EIA said, compared with analysts’ expectations in a Reuters poll for a 2.1 million-barrel rise. … Read more
(Reuters) – International Energy Agency Director Fatih Birol said on Thursday that oil demand growth is less than one million barrels per day and that a substantial surplus was expected. He said that it is up to OPEC+ countries to decide what they are going to do “but given the demand being less than one … Read more
(Reuters) – Crude oil exports from the world’s largest oil exporter fell to 6.988 million barrels per day, down from 7.378 million bpd in November and its lowest since September, data from the Joint Organizations Data Initiative showed on Thursday. Saudi Arabia’s crude output stood at about 10.084 million bpd in December, its highest since … Read more
Summary Chevron in prime position for early gains in Venezuela Challenges include repairing infrastructure, securing diluents Legal risks and regulatory uncertainty remain for oil companies CABIMAS, Venezuela, Feb 19 (Reuters) – In September, a rig used to drill wells in shallow waters completed the long trip from China to Venezuela’s oil-producing region of Lake Maracaibo. … Read more
By Reuters Cenovus Energy surpassed market estimates for fourth-quarter adjusted profit on Thursday, helped by higher upstream production. Canadian oil sands producers, including Cenovus, have remained resilient amid a global oil industry downturn, supported by years of investment that have made them among North America’s lowest-cost producers. The country’s oil producers are also gaining from the expanded Trans Mountain … Read more
Kinetik Holdings, a pipeline operator in the Delaware Basin, is considering a sale following an approach from Western Midstream Partners, the Financial Times reported on Wednesday, citing people familiar with the matter. The development comes as energy-intensive data centers and rising liquefied natural gas (LNG) exports drive U.S. gas consumption higher, prompting producers to pull … Read more
By Nicole Jao, Arathy Somasekhar and Marianna Parraga Phillips 66, Citgo seek to purchase directly starting in April, Valero later in the year Venezuelan crude prices ease amid US Gulf Coast supply surge Direct purchases may face challenges under general license HOUSTON, Feb 18 (Reuters) – U.S. refiners Phillips 66 and Citgo Petroleum are seeking … Read more
By Padraic Halpin Microsoft to retain matching target during AI expansion Tech giant has purchased 40 GW of new renewable energy Ready to ramp up again in data centre pioneer Ireland DUBLIN, Feb 18 (Reuters) – Microsoft (MSFT.O) has promised to keep buying enough renewable energy to match all its electricity needs after meeting that … Read more
By Peter Henderson SAN FRANCISCO, Feb 18 (Reuters) – California, Colorado and Washington are suing the federal government to force it to pay out grants approved by Congress for clean energy projects, the California attorney general’s office said on Wednesday. The Trump administration terminated some funding allocated under environmentally focused laws, including the Inflation Reduction … Read more
(Reuters) – Golden Pass, an LNG project jointly owned by Exxon Mobil and QatarEnergy, pulled 300 million cubic feet of gas on Wednesday as it moves closer to making its first LNG, LSEG data show. When complete the 18 million metric tonnes per annum project in Texas is expected to be one of the largest … Read more
Summary Brent and WTI benchmarks up more than 1% Prices buoyed by concern over potential U.S.-Iran conflict US crude and fuel inventories fell last week, sources said (Reuters) – Oil prices rose on Thursday, driven by increasing concerns over potential military conflict between the United States and Iran as both countries stepped up military activity in the … Read more
By Josh Wingrove, Yoshiaki Nohara, and Catherine Lucey Japan plans to invest up to $36 billion in US oil, gas and critical mineral projects, the first tranche of its $550 billion commitment under the trade agreement it struck with President Donald Trump. “Our MASSIVE Trade Deal with Japan has just launched!” Trump posted Tuesday on … Read more
By Mark Burton The Trump administration’s primary interest in Greenland is on national security, not the development of its rare earths or energy resources, according to US Energy Secretary Chris Wright. President Donald Trump has long sought to assert control over Greenland, and since his return to the White House his administration has been in … Read more
By Julian Hast US natural gas futures closed down, ending at a fresh four-month low, as traders weighed warming outlooks stretching through the end of the month, decreasing demand for the heating fuel. “We are simply running out of time for a last winter cold shot,” said Darrell Fletcher, managing director of commodities at Bannockburn … Read more
By Gavin Maguire LITTLETON, Colorado, Feb 18 (Reuters) – U.S. exporters of LNG consumed more natural gas than both households and commercial businesses last year, tightening U.S. gas supplies and putting the LNG export boom squarely in the frame of discussions surrounding rising U.S. energy costs. Liquefied natural gas exporters gobbled up a record 5,000 … Read more
By Bruno Venditti | Graphics/Design Christina Kostandi Key Takeaways Renewables generate 67% of Canada’s electricity, compared to just 22% in the U.S. Natural gas is the top power source in most U.S. states, while hydro dominates in Canada. Coal, nuclear, wind, solar, and even petroleum still lead in select regions. What powers your state or … Read more
SM Energy said on Wednesday it would sell select assets in South Texas to Caturus Energy for $950 million in cash to reduce debt and bolster its capital structure. The U.S.-based oil and gas producer has agreed to sell nearly 61,000 net acres and about 260 producing wells in its southern Maverick Basin position in … Read more
China this month marks a year since it last imported liquefied natural gas from the U.S. amid a tense trade war between the world’s two largest economies. Yet throughout the past year, Chinese firms have continued purchasing U.S. LNG under long-term supply contracts with American producers. Instead of delivering the super-chilled fuel home, they have … Read more
Summary Ukraine peace talks end in Geneva after Zelenskiy says Russia stalling Iran, US reach understanding on main ‘guiding principles’ in nuclear talks Eurasia Group sees 65% chance of US strikes on Iran by April Iran and Russia to conduct navy drill on Thursday, Fars news agency reports (Reuters) – Oil prices gained nearly 3% … Read more
U.S.-based energy company EQT Corp beat Wall Street estimates for fourth-quarter adjusted profit on Tuesday, benefiting from higher natural gas prices and sales volumes. Power-hungry data centers and a surge in liquefied natural gas (LNG) exports are driving up sales for U.S. natural gas companies, pushing them to increase production to meet rising demand. U.S. … Read more
U.S. energy secretary Chris Wright said on Tuesday that Venezuela could add “several hundred thousand barrels per day” to oil production by year-end.“I think you’ll see several 100,000 barrels a day of additional production by the end of this year,” Wright said speaking at a conference in Paris. (Reporting by Kate Abnet, Forrest Crellin, Writing … Read more
U.S. natural gas producer Expand Energy beat Wall Street estimates for fourth-quarter profit on Tuesday and aims to strengthen its balance sheet with at least $1 billion in debt reduction in 2026. The company benefited from higher prices as U.S. natural gas futures rose over 11% sequentially in the fourth quarter, breaking a falling streak … Read more
(Reuters) – U.S. Energy Secretary Chris Wright said on Tuesday the United States is not satisfied yet with reforms at the International Energy Agency (IEA). Speaking at a conference in Paris, he added that Washington does “not need a net-zero scenario” from the body and could leave the agency “if they insist that it’s so … Read more
By Jonathan Stempel and Katha Kalia PacifiCorp has warned of liquidity concerns from Oregon wildfire PGE to acquire natural gas, wind, utility assets Transaction may close in more than one year Feb 17 (Reuters) – PacifiCorp, a utility owned by Berkshire Hathaway (BRKa.N), is selling wind, natural gas generation and distribution assets and infrastructure in … Read more
Ovintiv said on Tuesday it agreed to sell its Anadarko assets in Oklahoma to an undisclosed buyer for $3 billion, as the company sharpens its focus on higher-margin plays in the Permian Basin and Canada’s Montney. Shares of the company rose nearly 2% in extended trading. The divestiture delivers on a plan the company outlined in … Read more
DENVER, Feb. 17, 2026 /CNW/ – Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (“Ovintiv” or the “Company”) announced today that it has entered into a definitive agreement to sell its Anadarko assets, located in Oklahoma, to an undisclosed buyer, for cash proceeds of $3.0 billion. The sale includes approximately 360 thousand net acres, which represents substantially all of the company’s … Read more
Most of the growth came from shipping crude oil to Europe. By Gary Kean Newfoundland and Labrador outpaced other provinces in sending a larger share of exports to non-U.S. markets in 2025. However, that does not mean it has diversified trading partners. According to a recent TD Economics report on the shifting nature of goods … Read more
There’s a growing belief that if U.S. automakers are abandoning Canada, there’s no longer any reason to do them favours By Nojoud Al Mallees As the weeks passed after General Motors Co. shut down the assembly line where he had been working, reality began to set in for Mike Horne. Sitting in a union office … Read more
By Keira Wright A judge dismissed a long-running legal challenge against Santos Ltd., which had accused the Australian oil and gas producer of misleading investors over its climate strategy. The case brought by the Australasian Centre for Corporate Responsibility, a shareholder advocacy group, was rejected Tuesday by Justice Brigitte Markovic. Details of her decision will … Read more
By Reuters KYIV, Feb 17 – Russian forces pounded Ukrainian power infrastructure before a new round of peace talks, killing three energy workers and leaving tens of thousands of people without power and heat, officials said on Tuesday. President Volodymyr Zelenskiy condemned the overnight strikes on 12 Ukrainian regions that came under attack hours before the … Read more
By Olesya Astakhova, Ahmad Ghaddar and Alex Lawler Eight OPEC+ members meet on March 1 OPEC+ has paused increases for first quarter of 2026 Brent crude price near highest since August Russia’s Novak predicts increased demand from March-April MOSCOW/LONDON, Feb 13 (Reuters) – OPEC+ is leaning towards a resumption in oil output increases from April, … Read more
Summary Oil prices drop amid possible easing in US-Iran tensions Iran-US talks progress but no imminent deal, Araqchi says Volatility to continue due to geopolitical tensions (Reuters) – Oil prices fell about 2% to a two-week low on Tuesday on hopes tensions between the United States and Iran were easing after Iran’s foreign minister said … Read more
(Reuters) – Oil prices could remain supported in the near term as U.S. President Donald Trump ramps up pressure for peace deals involving Russia and Iran, but a resolution later this year may ultimately push crude lower, Citi said on Monday. Brent crude has rallied from around $60 per barrel to near $70 in the … Read more
Russian oil producers could be forced to sharply cut output in coming months as tightening pressure from U.S. President Donald Trump and European powers restricts the country’s exports and its storage fills up, a development that would further dent the Kremlin’s war chest. Russian crude exports have remained broadly stable in recent years despite sweeping … Read more
(Reuters) – President Donald Trump and Israeli Prime Minister Benjamin Netanyahu agreed at a White House meeting lasr week that the U.S. would work to reduce Iran’s oil exports to China, Axios reported, citing two U.S. officials briefed on the issue. “We agreed that we will go full force with maximum pressure against Iran, for … Read more
Summary US, Iran officials due to meet in Geneva on Tuesday Iran says energy, mining and aircraft deals on table in US talks OPEC+ leans toward resuming output hikes from April, sources say LONDON, Feb 16 (Reuters) – Oil prices were little changed on Monday, with investors weighing the market implications of upcoming U.S.-Iran talks … Read more
The two superpowers are choosing different paths in terms of where to get energy and how to tackle climate change Bloomberg News This week’s major climate news played out on a split screen with the world’s two superpowers signalling different paths for the future. In the United States, the Environmental Protection Agency walked back its own … Read more
Summary Judge rejects Rob Bonta’s immunity claim in defamation case Attorney general accused Exxon of lies, deception Claims against environmental groups are dismissed Bonta, Exxon not available for comment (Reuters) – A federal judge on Friday rejected California Attorney General Rob Bonta’s bid to dismiss Exxon Mobil’s lawsuit accusing him of defamation in criticizing the oil … Read more
By Robert Tuttle Takeaways by Bloomberg AI Canada’s energy minister said the government’s push to build carbon capture technology in the Alberta oil sands ensures the industry is adapting to change. The Canadian government signed a memorandum of understanding with the province of Alberta that pledged backing for a new oil pipeline in exchange for a higher … Read more
Summary US CPI data suggests potential for further rate cuts, boosting risk appetite OPEC+ may resume oil output increases from April, impacting summer fuel demand Russia says next Ukraine peace talks set for next week Investors watch for US-Iran talks, easing Venezuelan sanctions (Reuters) – Oil prices settled marginally higher on Friday after data showed … Read more
By Timothy Gardner Venezuela’s interim President Delcy Rodriguez, U.S. Energy Secretary Chris Wright and U.S. Charge d’Affaires for Venezuela Laura Dogu visit oil production facilities at the joint venture between Chevron and state oil company PDVSA in the Orinoco Oil Belt Oil majors with offices in Venezuela granted general license New investments in oil and … Read more
U.S. gas producer Caturus said on Friday it signed a 20-year agreement to supply 1 million tonnes per annum of LNG to Saudi Aramco from its proposed Louisiana export project. Last month, Reuters reported the deal, citing sources, between Aramco and Commonwealth LNG, owned and operated by Caturus. Commonwealth had said it wants to get to 8 … Read more
(Reteurs) – U.S. energy firms this week cut three oil rigs and added three natural gas rigs, keeping the overall rig count unchanged, energy services firm Baker Hughes said in its closely followed report on Friday. After rising for three weeks in a row, the oil and gas rig count, an early indicator of future … Read more
By Nidhi Verma and Jarrett Renshaw Reliance applied for general authorisation in January Direct import of Venezuelan oil to help replace Russian oil Trump wants India to buy more oil from US and Venezuela NEW DELHI/WASHINGTON, Feb 13 (Reuters) – The United States has issued a general licence to India’s Reliance Industries Ltd (RELI.NS), opens … Read more
(Reuters) – The Pentagon is sending an aircraft carrier from the Caribbean to the Middle East, two U.S. officials told Reuters on Friday, a move that would put two carriers in the region as tensions soar between the United States and Iran. The Gerald R. Ford carrier, the United States’ newest and the world’s largest … Read more
February 13, 2026 CALGARY, AB, Feb. 13, 2026 /CNW/ – Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) today reported fourth quarter 2025 financial results, reaffirmed its 2026 financial guidance and provided a quarterly business update. Highlights (All financial figures are unaudited and in Canadian dollars unless otherwise noted. * identifies non-GAAP financial measures. Please … Read more
Strongest safety performance in five years drives 15 flow records and solid financial results Progress in commercial discussions strengthens line of sight to incremental project announcements in 2026 Raises dividend for 26th consecutive year CALGARY, Alberta, Feb. 13, 2026 (GLOBE NEWSWIRE) — TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) released its fourth quarter and … Read more
(Reuters) – ConocoPhillips and its partners will invest some 20 billion Norwegian crowns ($2.11 billion) to restart production at three fields in the Greater Ekofisk area by the end of 2028, plans presented to the Norwegian government showed on Friday. The project, called the Previously Produced Fields (PPF), aims to extract more hydrocarbons from late-life Albuskjell, … Read more
U.S. President Donald Trump said on Thursday that billionaire energy entrepreneur and Republican donor Harry Sargeant III has no authority to act on behalf of the U.S., adding that relations between the U.S. and Venezuela had been “extraordinary.” “He has no authority, in any way, shape, or form, to act on behalf of the United … Read more
Summary Trump says US could conclude Iran deal over the next month Venezuelan oil supply expected to ramp up, says analyst IEA lowers global oil demand forecasts for this year Kremlin says next Ukraine peace talks set for next week (Reuters) – Oil prices edged higher on Friday but were on track for a … Read more
By Andrew Rosati and Annmarie Hordern President Donald Trump’s energy chief said that the US can help Venezuela drive a “dramatic increase” in oil, natural gas and electricity output this year, as Washington works to issue new licenses aimed at “setting free” the country’s economy. Energy Secretary Chris Wright spoke to reporters after meeting with … Read more
Feb 12 (Reuters) – The U.S. Treasury Department on Thursday unveiled interim rules for enforcing provisions in President Donald Trump’s new tax law that restrict companies from claiming federal clean energy subsidies if they are overly reliant on Chinese-made equipment. The guidance, which applies to lucrative tax credits for clean energy manufacturing and electricity generation, … Read more
By Grant Smith Global oil stockpiles accumulated last year at the strongest pace since the 2020 pandemic as supplies soared and demand growth slowed, according to the International Energy Agency. Inventories increased by an “extraordinary” 477 million barrels in 2025, with stocks in OECD nations surpassing their five-year average for the first time in four … Read more
By Rakesh Sharma India will need favorable terms to enter into long-term liquefied natural gas purchase deals with the US as the market is highly price sensitive, according to the chief executive officer of the country’s top LNG importer. “India is looking to source energy at the most competitive and affordable price for consumers,” Petronet … Read more
Summary Cuba is facing a severe fuel shortage due to US actions Island has warned that jet fuel is no longer available Russia last supplied Cuba with oil in February 2025 Kremlin says it’s discussing assistance with Havana (Reuters) – Russia is preparing to send crude oil and fuel cargoes to Cuba in the near … Read more
Summary IEA still projects sizeable global oil supply surplus in 2026 Oil prices rise amid geopolitical tensions and supply outages OPEC+ and other producers boost supply faster than demand Oil slips after IEA report published, still up 14% in 2026 (Reuters) – World oil demand will rise more slowly than expected this year, the International … Read more
By Marilen Martin Siemens Energy AG’s Chief Executive Officer Christian Bruch has a message for investors worried about surging spending on data centers: Don’t fear a bubble. “So far, we see reservations more or less one to one converting into effective orders,” Bruch said Wednesday on Bloomberg Television. “I’m relatively comfortable going forward that this … Read more
By Alex Lawler OPEC sees 400,000 bpd drop in demand for OPEC+ oil in Q2 vs Q1 OPEC+ is pausing production hikes in first-quarter 2026 OPEC+ eight members meet on March 1, expected to decide on resuming hikes For 2026, OPEC data indicates supply deficit, in contrast to IEA’s glut LONDON, Feb 11 (Reuters) – … Read more
Summary Trump says talks with Tehran will continue Large build in US crude stocks caps price gains IEA lowers global oil demand forecast for 2026 (Reuters) – Oil prices slipped on Thursday as investors weighed the International Energy Agency’s lowering of its global oil demand forecast for 2026 against potential escalation of U.S.-Iran tensions. Brent … Read more
By Marianna Parraga and Nathan Crooks US Energy Secretary Chris Wright met Venezuelan interim President Delcy Rodriguez Visit follows Maduro’s capture, $2 billion oil supply deal US aims to reshape global energy markets and pressure Russia, analyst says HOUSTON, Feb 11 (Reuters) – Venezuela is hosting U.S. Secretary of Energy Chris Wright this week, marking … Read more
SM Energy has launched the sales process for some of its natural gas-producing assets in the Eagle Ford shale basin of South Texas as it looks to trim debt following its near $13 billion merger with Civitas, three sources familiar with the matter said. * SM Energy closed the merger last month and took on … Read more
By Valerie Volcovici and Trevor Hunnicutt WASHINGTON, Feb 11 (Reuters) – President Donald Trump on Wednesday ordered the Defense Department to purchase electricity from coal-fired power plants in his latest effort to boost the coal sector. The move, which was announced at the White House as an executive order, calls for the Pentagon to form … Read more
CALGARY, Alberta, Feb. 11, 2026 (GLOBE NEWSWIRE) — This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this release. This release … Read more
By Christoph Steitz and Tom Käckenhoff First-quarter net profit surges to 746 million euros Siemens Gamesa’s operating loss narrows to 46 million euros Siemens Energy shares have risen more than ten-fold since 2024 Shares up 5% to record high FRANKFURT/DUESSELDORF, Feb 11 (Reuters) – Siemens Energy’s (ENR1n.DE) net profit nearly tripled in the first three … Read more
(Reuters) – U.S. natural gas output will rise to a record high in 2026, while demand will hold steady, the U.S. Energy Information Administration said in its Short-Term Energy Outlook on Tuesday. EIA projected dry gas production will rise from a record 107.6 billion cubic feet per day in 2025 to 110.0 bcfd in 2026 … Read more
(Reuters) – The United States will have to do “something very tough” if a deal is not reached with Iran, President Donald Trump told Israel’s Channel 12 in an interview published online on Tuesday. “Either we reach a deal or we’ll have to do something very tough,” it quoted Trump as saying. Trump has said … Read more
(Reuters) – U.S. power consumption, which hit its second straight record high in 2025, will rise further in 2026 and 2027, the Energy Information Administration said in its Short-Term Energy Outlook on Tuesday. The EIA projected power demand will rise from a record 4,195 billion kilowatt-hours in 2025 to 4,268 billion kWh in 2026 and … Read more
Summary Trump hints at second carrier in Middle East US crude stocks likely rose last week – Reuters poll Crude draws at ARA, Fujairah suggest tight market LONDON, Feb 11 (Reuters) – Oil prices gained on Wednesday, buoyed by escalating risk as U.S.–Iran talks remained tenuous, while draws of crude from key stockpiles suggested stronger … Read more
Summary U.S. Energy Secretary Chris Wright to meet Venezuelan officials, Chevron, Repsol executives Visit follows Maduro’s capture, $2 billion oil deal U.S. aims to reshape global energy markets and pressure Russia, analyst says (Reuters) – Venezuela will host U.S. Secretary of Energy Chris Wright this week, marking the highest-level U.S. visit focused on energy policy … Read more
The U.S. Treasury Department on Tuesday issued a general license authorizing the provision of U.S. goods, technology, software or services for the exploration, development or production of oil and gas in Venezuela, a long-awaited permit that could help increase output in the country. Washington has been relaxing sanctions on Venezuela’s energy industry, first imposed in … Read more
(Reuters) – Expanded U.S. licenses for Venezuela-related deals are expected to restore the South American country’s oil production by mid-2026 to levels seen before a U.S. naval blockade in December, the U.S. Energy Information Administration said on Tuesday. Venezuela’s state oil company PDVSA was forced to make deep output cuts after Washington imposed the strict … Read more
(Reuters) – BP’s decision to scrap buybacks may be painful in the short run, but by prioritising production growth over shareholder payouts it can begin to repair its shaky financial footing. Cutting buybacks marks the most significant shift in BP’s financial framework since it halved its dividend in August 2020 following the pandemic-driven collapse in … Read more
(Reuters) – Equinor’s international oil and gas portfolio will return to growth in the next few years as the Norwegian energy group targets sharply increased output abroad by 2030, its head of foreign operations told Reuters. After recent divestment of onshore assets in Argentina, Equinor now produces oil and gas in seven countries outside Norway, … Read more
By David Wethe and Kevin Crowley Chevron Corp. acquired a ranch in West Texas whose owner had been waging a legal battle accusing the US energy giant of negligently spilling toxic water and crude oil on the 22,000-acre property. The sale of Ashley Watt’s Antina Ranch was recorded on Feb. 3 by the Crane County … Read more
By Timour Azhari [image] Saudi, US firms to explore oil and gas in northeast Syria Project follows Assad’s ousting, lifting of US sanctions Consortium includes Baker Hughes, Hunt Energy, ACWA Power, TAQA, Argent LNG RIYADH, Feb 10 (Reuters) – Two Saudi Arabian and three U.S.-based firms are set to form a consortium for oil and … Read more
CALGARY – Oilpatch advisers are expecting the wave of consolidation to continue after last year’s string of blockbuster Canadian deals, but whether foreign buyers are ready to jump into the fray remains an open question. Companies have seen the merit in bulking up through mergers and acquisitions as oil prices hover around the lacklustre US$60 … Read more
BP pauses $750-million quarterly share buybacks Q4 net profit $1.54 billion, up 32% on year Bumerangue field expected to hold 8 billion barrels Shares dropped as much as 5.7% in morning trading (Reuters) – BP suspended its share buyback programme and took about $4 billion of charges in its renewables and biogas assets, sending its shares … Read more
Summary Presidio’s Goldman facility is a first in oil and gas industry Acquisition finance provided by Goldman, with debt held by bank for use in future ABS Structure offers lower debt costs, as well as speed and more certainty in deal talks (Reuters) – Presidio Investment Holdings is working with Goldman Sachs on a first-of-its-kind debt … Read more
(Reuters) – Shell CEO Wael Sawan said on Tuesday the oil major does not have to buy additional assets anytime soon to deliver on its 2030 targets. In March, Sawan projected a 100,000 to 200,000 barrels-of-oil-equivalent-per-day gap for the company by 2030, but said last week the company has largely covered that near‑term shortfall. Shell needs … Read more
(Reuters) – Utility firm Duke Energy forecast a higher current-year profit on Tuesday on the back of strong power demand. The rapid buildout of AI data centers and accelerating power consumption across homes and businesses were set to drive U.S. demand to record highs in 2026, the U.S. Energy Information Administration said. The utility firm was also considering adding large … Read more
Natural gas producer Expand Energy on Monday announced the departure of CEO Domenic Dell’Osso and also said it plans to relocate its corporate headquarters to Houston from Oklahoma City.The company said Chairman Michael Wichterich would take charge as interim chief. Dell’Osso will serve as an external advisor for a period of time. The company added … Read more
(Reuters) – The United States issued fresh guidance on Monday to commercial vessels transiting the Strait of Hormuz, a key shipping lane for Middle East oil supplies, as tensions simmered between Washington and Tehran over Iran’s nuclear program. Iran has in the past threatened to close down the Strait of Hormuz, a portion of which … Read more
Feb 9 (Reuters) – French oil major TotalEnergies (TTEF.PA) on Monday signed two long-term deals to supply solar power to Google’s (GOOGL.O) data centres in Texas, as it looks to tap rising electricity demand driven by artificial intelligence. Total will deliver 1 gigawatt of capacity – equivalent to 28 terawatt-hours of renewable power over 15 … Read more
MOSCOW, Feb 9 (Reuters) – The Kremlin said on Monday that the fuel situation in Cuba, which has unveiled a plan to protect essential services and ration fuel, was critical and that U.S. attempts to “suffocate” the island’s economy were causing many difficulties. Cuba detailed its plans to navigate the deepening crisis on Friday as … Read more
(Reuters) – Oil prices edged up on Tuesday as traders gauged the potential for supply disruptions after U.S. guidance for vessels transiting the Strait of Hormuz kept attention squarely on tensions between Washington and Tehran. Brent crude oil futures were up 37 cents, or 0.5%, at $69.41 a barrel by 1136 GMT. U.S. West Texas Intermediate crude … Read more
By Sing Yee Ong and Julian Hast US natural gas dropped for a second session on the outlook for warmer temperatures across large parts of the country, likely trimming demand for the heating and power-plant fuel. Futures for March delivery slipped as much as 9.1% to $3.111 per million British thermal units. With much of … Read more
(Reuters) – U.S. natural gas futures fell by more than 8% on Monday on forecasts for milder weather than previously expected for the rest of the month, erasing the previous session’s gains. Gas futures for March delivery on the New York Mercantile Exchange fell 27.7 cents, or 8.1%, to $3.15 per million British thermal units … Read more
(Reuters) – Venezuela’s state oil company PDVSA has reversed most of the output cuts it had ordered at its own oilfields and joint ventures in the country’s main crude region, the Orinoco Belt, which has boosted the nation’s total production close to 1 million barrels per day (bpd), sources close to operations said. The Orinoco … Read more
By Shadia Nasralla and Stephanie Kelly Shell reserves at lowest since at least 2013, faces output gap Reserve life 8 years, markedly below Exxon Analysts see need for M&A, exploration success LONDON, Feb 9 (Reuters) – Shell needs an acquisition or exploration breakthrough to make up for an expected production shortage of 350,000-800,000 barrels of … Read more
Tengiz output has recovered to about 550,000 bpd, sources say Full recovery expected by February 23 Kazakhstan’s overall oil production on the rise January fires at power facilities caused prolonged shutdown Kazakhstan’s oil exports declined due to Tengiz outage MOSCOW, Feb 9 (Reuters) – The giant Chevron-led (CVX.N) Tengiz field in Kazakhstan has recovered to … Read more
By Niccolo Conte | Article/Editing: Govind Bhutada | Graphics/Design: Amy Realey Key Takeaways Language-heavy and information-based roles rank as the most exposed to generative AI, according to Microsoft’s recent research. Interpreters, historians, writers, and customer service roles show the highest AI applicability scores. Exposure does not equal replacement, and many roles are more likely to … Read more
WASHINGTON, Feb 6 (Reuters) – U.S. Energy Secretary Chris Wright said on Friday he will before long visit Venezuela to meet with “all the leadership” and to get a better understanding of on-the-ground oil and gas production operations there. Wright did not say when the trip will take place. The Trump administration has said it … Read more
Ron Bousso Global oil markets face increasingly sharp and frequent price shocks as geopolitical tensions, opaque stockpiling and tightening Western sanctions are leaving many traders in the dark. The growing influence of external, unpredictable forces on the world’s largest and most liquid commodity market raises doubts about how accurately prices reflect physical fundamentals. Indeed, … Read more
By Kevin Crowley and Veena Ali-Khan Exxon Mobil Corp. and Chevron Corp. are setting their sights on expanding production in nations tied to OPEC, including some of the world’s riskiest geopolitical hotspots, as President Donald Trump’s assertive foreign policy helps them strike deals. Venezuela, home to the world’s largest reserves, is the most high-profile opening … Read more
Summary Oil prices fall as US-Iran talks ease supply fears Iran threatens US bases if attacked, despite talks EU proposes ban on services supporting Russia’s oil exports India moving away from Russian oil, sources say (Reuters) – Oil prices were stable on Monday after the U.S. and Iran pledged to continue indirect talks, easing oil … Read more
By Christine Dobby Cross-Border Shopping Anyone who follows the US banking industry can tell you a wave of mergers is likely on the way because regulators under the Trump administration have signaled a friendlier stance on consolidation. There are close to 4,400 banks in the US (yes, Canadians, you read that right) and many of the mid-size … Read more
U.S. oil production fell in November to the lowest since July, while oil demand fell to the lowest since April, data from the Energy Information Administration showed on Friday. Crude oil output fell to 13.78 million bpd in November, down about 82,000 from October’s record high 13.86 million bpd, the EIA data showed. That is … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a third week in a row for the first time since November, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by five to … Read more
(Reuters) – President Donald Trump signed an executive order on Friday rescinding a punitive 25% duty on all imports from India over its purchases of Russian oil, the White House said. Trump on Monday announced a trade deal with India that slashed U.S. tariffs on Indian goods to 18% from 50% in exchange for India halting Russian … Read more
Summary Four-year deal includes 15% pay raise, $2,500 signing bonus USW sought 16% raise, Marathon firm on final offer Contract replaces current one, which was extended before February 1 expiration Union tells BP Indiana refinery employees to prep for strike, lockout (Reuters) – The U.S. United Steelworkers union adopted on Friday a national agreement on … Read more
Summary Tesla hiring to pursue Musk plan for 100 GW of US solar manufacturing Goal far exceeds current US solar manufacturing capacity Job post says plan is to meet solar manufacturing goal by end of 2028 Feb 6 (Reuters) – Tesla is hiring to support founder Elon Musk’s recently announced plan to become the biggest U.S. … Read more
(Reuters) – Global electricity demand growth is expected to ramp up by more than 3.5% per year on average over the rest of the decade while renewable energy and nuclear power are expected to make up nearly half of all power production, the International Energy Agency said in a report on Friday. Here are some … Read more
(Reuters) – Mexican officials are evaluating how to send fuel to Cuba to help meet basic needs such as electricity and transportation without triggering reprisals from Washington, which has threatened tariffs against countries supplying fuel to the Caribbean island, four sources familiar with the matter said. The sources said high-level Mexican officials have been talking … Read more
(Reuters) – Williams Companies is exploring buying natural gas production in the United States, a rare foray for an energy infrastructure operator, as it aims to secure natural gas supplies to support its one-stop-shop offering to hyperscalers and data center clients, three people familiar with the matter said. The Tulsa, Oklahoma-based firm has spent the … Read more
Geopolitical risk reverses oil price decline (Reuters) – Oil prices settled higher on Friday, reversing earlier losses as traders worried that this week’s talks between the U.S. and Iran had failed to reduce the risk of a military conflict between the two countries. Brent crude futures settled at $68.05 a barrel, up 50 cents, or … Read more
By Emma Sanchez The world’s largest oilfield-service providers are looking to production increases in the Middle East to help offset a slowdown in US shale. That’s one of the big takeaways from comments this week made by executives at Helmerich & Payne Inc. and Patterson-UTI Energy Inc., who pointed to opportunities in countries such as Saudi Arabia to help … Read more
(Reuters) – The Trump administration on Thursday said it would hold a sale of oil and gas drilling rights across 5.5 million acres of Alaska’s National Petroleum Reserve on March 9. WHY IT’S IMPORTANT The sale is the first of at least five mandated by President Donald Trump’s One Big Beautiful Bill Act, which he … Read more
Phillips 66 is set to lay off 277 employees as operations at the 139,000-barrel-per-day Los Angeles-area refinery wind down ahead of closure, filings to California’s employment regulator show. The Houston-based refiner will terminate 122 employees at the Los Angeles-area refinery in April, a notice filed with the regulator on Monday showed. In a separate … Read more
One of the biggest problems facing Tesla these days is the fact there are plenty of other EV options to choose from By Hannah Elliott Tori Horowitz loved her 2021 Tesla Model S. “It worked for my life because I’m in my car all the time,” says the realtor, who drives weekly from Los Angeles … Read more
By David Wethe ConocoPhillips Chief Executive Officer Ryan Lance’s priority in Venezuela is recouping billions his company is owed almost two decades after its oil projects were nationalized, rather than drilling new wells. Despite roughly $10 billion in favorable judgments from international arbitrators holding Venezuela liable for the seizures, the Houston oil giant’s efforts to … Read more
(Reuters) – United Steelworkers is asking workers at BP’s 440,000-barrel-per-day refinery in Whiting, Indiana, to prepare for a strike or lockout, the union said on Thursday after weeks of negotiations with the British oil major that did not yield results. The comments come after 98% of members at the refinery voted to authorize a strike. … Read more
By Curtis Williams Cheniere plans 24 mtpa LNG plant expansion in Texas Expansion to add four new LNG processing trains Cheniere aims for federal approval by May next year HOUSTON, Feb 5 (Reuters) – Cheniere Energy, the largest liquefied natural gas exporter in the U.S., has submitted an application to build a 24 million metric … Read more
Summary Weekly price drop would be first since mid-December US, Iran in dispute over agenda for talks in Oman Geopolitical risk stems oil price decline (Reuters) – Oil prices held steady on Friday as investors awaited news from high-stakes talks between the United States and Iran that are taking place in Oman amid fears of another supply-disrupting … Read more
(Reuters) – Shell hopes to produce gas from Venezuela’s Dragon field in three years and have it processed in Trinidad and Tobago for export, CEO Wael Sawan told Bloomberg TV in an interview on Thursday. Shell and Trinidad have been trying to increase the supply of natural gas to Trinidad’s Atlantic LNG export facility and … Read more
(Reuters) – Shell is weighing investments in certain offshore natural gas opportunities in Venezuela involving investments worth a few billion dollars with production expected in the next couple of years, CEO Wael Sawan said in an interview with CNBC on Thursday. “These are opportunities that could potentially be activated within months,” he told CNBC, adding … Read more
By Julian Hast US natural gas consumers withdrew more gas from storage last week than they ever have before as a powerful late-January storm boosted demand for the heating fuel while also disrupting production across key gas-producing basins. Consumers withdrew 360 billion cubic feet of gas in the week leading up to Jan. 30, the … Read more
By Ron Bousso Qatar’s long-term deal to supply Japan’s power giant JERA with liquefied natural gas highlights two key themes in the red-hot market for this super-chilled fuel: the race to gain market share and the global push for energy security. Qatar’s national oil and gas company QatarEnergy on Tuesday signed a deal to supply … Read more
TrueFlow Technologies is a newly incorporated company with proven & ground-breaking technology that focuses solely on the multiphase flow measurement market as it relates to the Oil & Gas industry. The DIP Multiphase Flow Meter is a unique & disruptive technology offering accurate and reliable measurement across all well flow regimes. Whether the well is … Read more
(Reuters ) – Kuwait Oil Company (KOC) is in talks with some U.S. firms on potential cooperation to develop its shale oil and gas resources, its chief executive said on Thursday. KOC is “engaging with some U.S. operators to explore how their expertise can support the development of Kuwait’s shale oil and shale gas resources,” … Read more
HOUSTON–(BUSINESS WIRE)–Chevron Corporation (NYSE:CVX) today announced several senior leadership changes. Frank Mount, President, Corporate Business Development, will retire from Chevron in November 2026 after 33 years of service. Mount has led the company’s global business development activities since 2023. “Throughout his career, Frank has contributed significantly to the success of Chevron,” said Chevron Chairman and CEO … Read more
Shell missed fourth-quarter profit expectations on Thursday with an 11% drop to the lowest level since early 2021 amid weaker oil prices, but kept its bumper share buyback programme. Shareholders of oil majors have become used to huge buybacks, but lower oil and gas prices ahead of an expected crude and liquefied natural gas glut have … Read more
HOUSTON, Feb. 05, 2026 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) (“Vaalco” or the “Company”) today announced that it had entered into an agreement for the sale of all of its non-core producing properties in Canada to a third party for approximately $35.0 million Canadian Dollars (USD $25.6 million), subject to customary closing … Read more
Summary Expiration of 30% federal homeowner tax credit triggers downturn and layoffs in residential solar Installations forecast to drop sharply in 2026, delaying industry recovery Installers shifting to third-party ownership models that still qualify for federal incentives (Reuters) – U.S. residential solar companies are preparing for a steep drop in business this year after … Read more
(Reuters) – ConocoPhillips said on Thursday it aims to cut capital and operating costs by $1 billion in 2026, after the U.S. oil and gas producer missed Wall Street estimates for fourth-quarter profit due to weaker crude prices. Oil producers have been under mounting pressure from falling prices, prompting efforts across the sector to rein in spending, scale … Read more
Summary US, Iran prepare for talks on Friday About a fifth of global oil consumption passes through Strait of Hormuz Volatility leads to record WTI Midland contracts in January Brent crude still close to five-month high (Reuters) – Oil prices fell more than 2% on Thursday but held close to multi-month highs after the U.S. … Read more
U.S. energy firms likely pulled a bigger-than-usual 374 billion cubic feet of natural gas from storage last week as an Arctic freeze boosted heating demand, according to the average estimate in a Reuters poll released on Wednesday. That figure compares with a draw of 195 bcf during the same week a year ago, and a … Read more
Investors rushed to lock in oil prices at record levels in January amid concerns around Iranian crude supplies and more Venezuelan barrels heading to the U.S. Gulf Coast. Hedging can help producers reduce risk and protect their production from sharp moves in the market by locking in a price for the oil. It can … Read more
(Reuters) – Canadian oil sands producer Suncor Energy will present the market this spring with options it is considering for securing long-term bitumen supply, the company’s chief executive said on Wednesday. The bitumen supply question will be one of the central themes of a new long-term vision the company plans to unveil at a March … Read more
By Ella Feldman Argentina, Guyana and Brazil remain poised to drive oil production growth in South America for years to come despite the US push for investment in Venezuela, Rystad Energy says. The consulting firm estimates flagship projects in the three countries will add more than 700,000 barrels per day in oil production this year, … Read more
By Priscila Azevedo Rocha Richard Holtum Photographer: Aaron M. Sprecher/Bloomberg Trafigura Group Chief Executive Officer Richard Holtum said the liquefied natural gas industry needs a “bit of innovation” when it comes to financing projects. “I feel sorry for LNG projects in the US,” Holtum said on a panel at the LNG 2026 conference in Doha. … Read more
Smith’s criteria suggest Prince Rupert may be the top option, as the city is already home to Canada’s third-largest port By Thomas Seal Danielle Smith said last week she and B.C. Premier Eby share “so much common ground” on resource development, including the possibility of expanding Trans Mountain again. Photo by Blair Gable/Postmedia files Alberta … Read more
(Reuters) – U.S. crude stocks and distillate inventories fell while gasoline inventories rose in the week ending January 30, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.5 million barrels to 420.3 million barrels last week, the EIA said, compared with analysts’ expectations in a Reuters poll for a 489,000-barrel rise. Crude … Read more
(Reuters) – Norway’s Socialist Party has withdrawn its support for a proposal to block Equinor’s Hammerfest liquefied natural gas plant from receiving a planned onshore power connection, clearing the way for the grid development to proceed. Parliament is due on Thursday to vote on an opposition proposal seeking to revoke the LNG plant’s planned link … Read more
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(Reuters) – The U.S. government is working to issue as early as this week a general license allowing companies to produce oil and gas in Venezuela, as Washington seeks to encourage expanded output in the OPEC nation since capturing its president, three sources close to the matter told Reuters. The move by the Treasury’s Office … Read more
Feb 3 (Reuters) – Marathon Petroleum reported fourth-quarter profit above Wall Street estimate on Tuesday, as a 44% jump in refining margins underscored stronger operational performance after a prolonged downturn in 2024. Shares of the country’s top refiner gained nearly 7% in premarket trading. U.S. fuel maker margins have begun to rebound from multi-year lows … Read more
Summary Trump wants India to stop buying Russian oil India keeps silent but has reduced imports Russia has cut price of oil, budget suffers US pressure rises at critical moment in Ukraine peace talks (Reuters) – Russia faces a steep drop in oil income if U.S. President Donald Trump successfully pressures India to stop importing Russian … Read more
(Reuters) – Oil refiners on the U.S. Gulf Coast are struggling to absorb a rapid surge in Venezuelan crude shipments since last month’s flagship $2 billion supply deal between Caracas and Washington, pressuring prices and leaving some volumes unsold, according to traders and shipping data. The soft U.S. demand represents an early obstacle for President … Read more
(Reuters) – Commonwealth LNG said on Tuesday it has signed a 20-year sale and purchase agreement to supply 1 million tons per annum of liquefied natural gas to Mercuria. Under the deal, Mercuria will provide 1 million tons of natural gas per year to Commonwealth, and Commonwealth will convert it into LNG for Mercuria to … Read more
(Reuters) – The United States has now returned to the Venezuelan government all $500 million from the initial sale of oil that was part of a deal reached between Caracas and Washington last month, a U.S. official said on Tuesday. The last $200 million from the sale has been sent to Venezuela, the official said, speaking … Read more
Summary Investors monitor Washington-Tehran developments Drone attack and tanker incident in focus Prices also supported by US inventory draw (Reuters) – Oil prices rose on Wednesday after the U.S. shot down an Iranian drone and armed Iranian boats approached a U.S.-flagged vessel, rekindling fears of an escalation between Washington and Tehran ahead of planned talks. … Read more
By Emily Chow and Yousef Saba DOHA, Feb 3 (Reuters) – Malaysia’s state-owned firm Petronas is set to sign a liquefied natural gas supply deal with QatarEnergy as the southeast Asian nation seeks more supplies of the super-chilled fuel, two sources familiar with the matter told Reuters. Petroliam Nasional, or Petronas, will sign a contract … Read more
Feb 3 (Reuters) – Ukrainian Energy Minister Denys Shmyhal said on Tuesday that a power plant in Kyiv’s eastern suburbs had been seriously damaged in overnight Russian attacks, prompting officials to redirect resources to restoring heating to thousands of residents. Shmyhal, writing on Telegram after a meeting devoted to energy issues, said the plant in … Read more
DENVER, Feb. 3, 2026 /CNW/ – Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (“Ovintiv” or the “Company”) announced today that it has completed its acquisition of all of the common shares (“NuVista Shares”) of NuVista Energy Ltd. (TSX: NVA) (“NuVista”) in a cash and stock transaction valued at $2.7 billion. The acquisition is expected to add approximately 930 net 10,000-foot equivalent … Read more
(Reuters) – A rush by U.S. utilities and tech giants to snap up as many gas turbines as possible to boost local power output is causing a global shortage of gas-power equipment and may spur other power systems to fast-track cleaner alternatives. The amount of U.S. gas-fired capacity that is under construction has more than … Read more
NEW YORK, Feb. 2, 2026 /PRNewswire/ — Kimmeridge Energy Management Company, LLC, a private investment firm focused on the energy sector, today issued the following statement in response to an announced definitive agreement for Coterra Energy (NYSE: CTRA) and Devon Energy (NYSE: DVN) to merge in an all-stock transaction. Mark Viviano, Managing Partner at Kimmeridge, … Read more
By Dorothy Ma Nine Energy Service Inc., a Houston-based oil field vendor, filed for Chapter 11 bankruptcy on Sunday as it struggled with high leverage and a shrinking business amid a slowdown in drilling programs. The deal will see a “complete equitization” of its $320 million first-lien notes due 2028, according to . The company … Read more
By Emily Chow, Yousef Saba and Andrew Mills AI and data centres seen driving rising LNG demand Asia, led by China and India, to drive LNG demand growth LNG prices may soften with new supply DOHA, Feb 2 (Reuters) – Growing electricity demand from AI and data centres, together with rising fuel use in Asia … Read more
(Reuters) – Venezuela’s oil exports bounced to some 800,000 barrels per day (bpd) in January under U.S. control, from 498,000 bpd in December, following the capture of President Nicolas Maduro and the end of an oil blockade on the country, which has allowed traders to carry most exports, shipping data showed. Washington in December imposed … Read more
(Reuters) – Crude oil producers in the United States continued bringing oil wells back online on Monday, with only around 0.7% of national output still halted in the aftermath of a winter storm that ravaged production last month. Some 100,000 barrels per day of crude output remained shut, according to consultancy Energy Aspects, with outages … Read more
By Robert Cyran (Reuters Breakingviews) – The United States’ transformation into the world’s biggest oil producer has been dramatic. It is also mostly over. Thanks to a combination of declining prime acreage and modest market prices for oil, the name of the game for the producers who turned American shale patches into free-flowing gushers is … Read more
Summary Prices steady after geopolitical risk premiums fade Firm US dollar weighs on oil markets Russia’s Novak expects oil demand to pick up in March, April Reuters) – Oil prices steadied on Tuesday, after falling over 4% in the previous session, as market participants considered the global supply outlook and the possibility of a de-escalation … Read more
(Reuters) – Exports of liquefied natural gas from the U.S. fell in January to 11.3 million metric tonnes – down from December’s record of 11.5 MT – as a winter freeze late in the month shuttered some plants and lowered output at others, preliminary data from financial firm LSEG show. Gas flows into U.S. LNG … Read more
(Reuters) – The Trump administration is dropping a 25% additional tariffs imposed on Indian imports over its purchases of Russian oil, in addition to lowering a country-specific tariff to 18% from 25%, a White House official said on Monday. “We are also dropping the 25% tariff given India’s agreement to stop buying Russian oil,” the … Read more
By Skylar Woodhouse and Shruti Srivastava President Donald Trump said he will slash tariffs on India to 18% after Prime Minister Narendra Modi agreed to stop buying Russian oil, easing tensions between the two countries. Trump said Monday on social media that, following a phone call with Modi, he will lower his tariff on Indian … Read more
Artificial intelligence already has a big footprint in stocks. Now lending for data centers is becoming a factor in bonds and credit. By Paula Seligson More than $3 trillion. That’s the staggering price tag to build the data centers needed to prepare for the artificial intelligence boom. Not even the world’s biggest technology companies—not Amazon.com, … Read more
China’s rapid adoption of electric trucks — which overtook gas-powered vehicle sales for the first time last year — is threatening a key source of demand for the country’s suppliers of the fossil fuel. Sales of heavy-duty trucks powered by batteries and other new energy sources hit a record in December, helping lift the full-year … Read more
By Julian Hast, Stephen Stapczynski, and Sing Yee Ong US natural gas futures plummeted on Monday as weather forecasts for mid-February shifted significantly warmer, marking the largest daily loss for the front-month contract on a percentage basis since 1995, excluding contract rollover days. The March contract settled down 25.7% to $3.237 per million British thermal … Read more
OKLAHOMA CITY and HOUSTON, Feb. 02, 2026 (GLOBE NEWSWIRE) — Devon Energy (“Devon”) (NYSE: DVN) and Coterra Energy (“Coterra”) (NYSE: CTRA) today announced the signing of a definitive agreement to merge in an all-stock transaction. The combination will create a leading large-cap shale operator with a high-quality asset base anchored by a premier position in … Read more
(Reuters) – Shell’s CEO Wael Sawan said on Monday that the liquefied natural gas (LNG) sector was expanding at a rate of about 3% per annum, outpacing the gas market.
United Steelworkers members at BP’s 440,000-barrel-per-day refinery in Whiting, Indiana agreed to a rolling 24-hour contract extension at the largest refinery in the U.S. Midwest, the company said in a statement on Sunday.This would mean that the current collective bargaining agreement would automatically renew every 24 hours unless either the union or BP cancels the … Read more
Reuters There are two factors that are largely beyond the control of OPEC+ and they are likely to determine the price of crude oil in the coming weeks. The first is whether U.S. President Donald Trump does decide to start a shooting war with Iran, and if he does whether both sides will be able … Read more
Across the U.S. energy and industrial landscape, inspection programs are evolving rapidly. In sectors such as oil and gas, petrochemicals, refining, and heavy manufacturing, operators face constant pressure to improve safety, reduce unplanned downtime, and extend asset life. Facilities are often large, complex, and high-risk environments. Equipment failures can result in costly shutdowns, environmental incidents, … Read more
ABOARD AIR FORCE ONE – (Reuters) – U.S. President Donald Trump on Saturday said India will buy Venezuelan oil, helping to replace some of the Russian oil that the world’s third-biggest oil importer buys. “We’ve already made that deal, the concept of the deal,” Trump told reporters aboard Air Force One as he traveled to … Read more
Summary Strike averted on a rolling 24-hour basis, union says Union has rejected at least five Marathon proposals Last proposal would have provided 14% pay increase over four years (Reuters) – The United Steelworkers union said late on Saturday it would extend talks with Marathon Petroleum, averting a strike by 30,000 workers at U.S. refineries … Read more
Devon, Coterra merge to create U.S. shale giant in $58 billion deal Feb 2 (Reuters) – Devon Energy and Coterra Energy on Monday decided to merge in a $58 billion all-stock deal, to become a large-cap producer with a top position in the Permian Basin as the shale sector consolidates to cut costs and boost scale. The … Read more
Summary Prices fall from multi-month highs as U.S.-Iran tensions ease Trump says Iran ‘seriously talking’ with Washington Geopolitical risks mask a bearish oil market, analysts say (Reuters) – Oil prices fell 5% on Monday after U.S. President Donald Trump said Iran was “seriously talking” with Washington, signalling a de-escalation of tensions with an OPEC member, … Read more
(Reuters) – Eight OPEC+ countries have agreed in principle to maintain a planned pause in their oil output hikes for March, according to three OPEC+ sources and a draft statement seen by Reuters ahead of their Sunday meeting. The countries had agreed the pause in output hikes for the first quarter in November. The … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since December, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by two to … Read more
U.S. crude output is expected to be down 379,000 barrels per day in the lower 48 states for the month of January, according to consultancy Rystad, as operators kept restoring production after a winter storm knocked off up to 2 million bpd of output last weekend. U.S. crude output from the lower 48 states was … Read more
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Summary Iran says defense capabilities not for discussion US issues new Iran-related sanctions Trump names Kevin Warsh for Fed chair Oil benchmarks set for highest monthly gains in since 2022 (Reuters) – Oil prices dipped a few cents per barrel on Friday, consolidating recent gains and holding near six-month highs on Friday, supported by nagging … Read more
Summary Exxon, Chevron cautious on Venezuela investments despite U.S. push Exxon, Chevron CEOs stress need for legal, political stability Venezuela’s political shifts may benefit Exxon, Chevron in Guyana (Reuters) – U.S. oil majors Exxon Mobil and Chevron offered investors a few pieces of new insight into their thinking about Venezuela on Friday, even though neither company announced … Read more
(Reuters) – All of North Dakota’s crude production was back online on Friday, state regulators said, after recovering from an arctic blast from a winter storm that has disrupted production nationwide. North Dakota is the third-largest oil-producing U.S. state, and output totaled 1.189 million barrels per day in November, the latest monthly data from the … Read more
(Reuters) – Chevron CEO Mike Wirth said on Friday the U.S. oil major can process an additional 100,000 barrels per day of Venezuelan crude at its refineries. “We’ve been bringing about 50,000 barrels a day, give or take, into our Pascagoula, Mississippi, refinery on the Gulf Coast. We can take another 100,000 barrels a day … Read more
(Reuters) – Mexico’s President Claudia Sheinbaum said on Friday her country would seek diplomatic solutions and alternatives to help Cuba after the United States threatened tariffs on nations that supply the Caribbean nation with oil. “We need to know the scope because we don’t want to put our country at risk in terms of tariffs,” … Read more
Chevron CEO Mike Wirth said on Friday the U.S. oil major was in discussions with the governments of Iraq and Libya to look at existing producing oilfields and evaluate exploration opportunities. The company needed to see compelling investment return potential in those countries, Wirth added. Reporting by Vallari Srivastava in Bengaluru and Sheila Dang in … Read more
(Reuters) – The United States supplied 60% of the European Union’s liquefied natural gas this month, data showed on Friday, confirming its role as Europe’s dominant LNG supplier as some European officials become wary of growing reliance on U.S. energy. The 60% share was an increase from both last month and January 2025, when the … Read more
Extreme cold forced Hydro-Québec to temporarily suspend its energy exports to Massachusetts just one week after inaugurating its new line. Hydro-Québec and the Massachusetts Executive Office of Energy and Environmental Affairs both confirmed the news, which was first reported by specialized media outlet E&E News. The decision came as last weekend’s polar vortex led to … Read more
By Dorothy Neufeld | Graphics/Design: Amy Kuo Key Takeaways Foreign holdings of U.S. Treasuries hit an all-time high of $9.4 trillion in November, despite notable selloffs from China and India. Japan’s holdings of U.S. debt increased 11% annually to reach $1.2 trillion, while Canada’s purchases climbed 27% over the period, with the total now at … Read more
(Reuters) – The United Steelworkers union rejected a comprehensive contract offer from Marathon Petroleum in talks for a national pattern agreement for U.S. refinery and chemical plant workers, the union said on Wednesday night. The USW and Marathon, lead negotiators for energy companies, face a 12:01 a.m. deadline on Sunday to hammer out a new … Read more
(Reuters) – Exxon Mobil CEO Darren Woods told analysts on Friday that the company has the technology that would be needed to produce higher cost barrels from Venezuela. While he had previously called the South American country “uninvestable” in remarks earlier this month at a White House meeting that later drew a rebuke from President … Read more
By Naureen S Malik and Ari Natter As many as 151 million Americans are at high risk of power shortfalls — or outright blackouts — over the next five years because of extreme weather, natural gas system vulnerabilities and soaring electricity demand, according to a report by the grid reliability regulator. Areas deemed at high … Read more
By Gavin Maguire LITTLETON, Colorado, Jan 30 (Reuters) – While North America and Europe scramble to build the data centers needed to run 21st-century businesses, many emerging markets remain anchored to 20th-century products like steel, cement and plastics for job creation and economic growth. That divergence is splitting energy transition trajectories, too. In the U.S. … Read more
By Ahmad Ghaddar, Olesya Astakhova and Alex Lawler OPEC+ likely to keep current output policy, sources say Brent crude prices rise to highest since August Kazakhstan’s Tengiz oilfield recovering from disruptions LONDON, Jan 30 – OPEC+ is likely to keep its pause on oil output increases for March when it meets on Sunday, five delegates … Read more
By Ron Bousso LONDON, Jan 30 (Reuters) – Oil prices remain stuck in a narrow band even after soaring 15% in January, partly on fears of a fresh U.S. strike on Iran. Tough talk on either side is unlikely to push crude prices much higher, given today’s well-supplied market. What would be needed is big-time … Read more
Reported earnings of $2.8 billion; adjusted earnings of $3.0 billion Cash flow from operations of $10.8 billion; adjusted free cash flow of $4.2 billion Increased 2025 worldwide and U.S. production by 12 and 16 percent to record levels Reserve replacement ratio of 158 percent in 2025 Announces a 4 percent increase in quarterly dividend to … Read more
Summary Chevron evaluates investment opportunities in Venezuela amid geopolitical changes Q4 profits exceed estimates despite lower crude prices, focus on cost-cutting Tengiz maintenance and weather impact Q1 production, expected to recover soon HOUSTON, Jan 30 (Reuters) – Chevron’s fourth-quarter profits fell but came in ahead of estimates as it focused on cutting costs and making its … Read more
Summary Freeport LNG shutdown impacts global gas prices US gas futures rise, European prices fall on Freeport news Freeport’s Train 3 shut due to compressor issue No comment from Freeport LNG officials NEW YORK, Jan 30 (Reuters) – Freeport LNG’s export plant in Texas was on track to take in more natural gas on Friday … Read more
Summary Exxon Mobil reports Q4 adjusted EPS $1.71 vs estimate of $1.68 Exxon achieves highest annual upstream production in 40+ years Exxon plans $20 billion share buyback through 2026 HOUSTON, Jan 30 (Reuters) – Exxon Mobil beat Wall Street targets in fourth-quarter earnings reported on Friday, with higher oil production in profitable Permian Basin and Guyana … Read more
(Reuters) – Petrochemicals maker LyondellBasell on Friday posted a surprise loss for the fourth quarter and said it aims to save $1.3 billion by the end of 2026, as it continues to keep a tight lid on costs amid volatility in feedstock and energy prices. LyondellBasell’s shares, however, rose 1.5% in premarket trading as the … Read more
U.S. President Donald Trump on Thursday signed an executive order declaring a national emergency and establishing a process to impose tariffs on goods from countries that sell or otherwise provide oil to Cuba, the White House said.
(Reuters) – The risk of U.S. power outages is worsening due to a changing mix of electricity supplies and rapidly growing demand in the winter months, the North American Electric Reliability Corporation said on Thursday. Before the end of the decade, the Mid-Atlantic, Midwest, Northeast and Texas regions may be at high risk of power … Read more
(Reuters) – The largest U.S. electric grid on Thursday operated near record levels for demand amid frigid temperatures as weather forecasters predicted another Arctic blast over the weekend. The PJM Interconnection, which manages the flow of electricity for 67 million people in 13 Midwest and Mid-Atlantic states and Washington, D.C., reported electric demand at about … Read more
(Reuters) – The Trump administration on Thursday eased some sanctions on the Venezuelan oil industry as it seeks to expand production there after U.S. forces ousted the South American country’s President Nicolas Maduro on January 3. The U.S. Treasury issued a general license authorizing transactions involving the government of Venezuela and state oil company PDVSA … Read more
(Reuters) – U.S. natural gas futures jumped 140% over the past seven trading days, and cash gas and power prices hit record highs this week as an Arctic blast sent heating demand soaring and froze oil and gas wells, cutting gas output to a two-year low. The sharp jump in power prices will ultimately hit … Read more
(Reuters) – Coterra Energy and Devon Energy could announce an agreement to merge as soon as next week, in what would be the largest oil and gas deal in the U.S. shale industry in almost two years, a source familiar with the matter told Reuters on Thursday. The Financial Times was the first to report … Read more
Summary Trump names Kevin Warsh for Fed chair Brent crude set for biggest monthly jump since January 2022 WTI set for largest monthly gain since July 2023 (Reuters) – Oil prices slipped on Friday on signs that the U.S. may engage in dialogue with Iran over its nuclear programme, reducing concern over potential supply disruptions … Read more
(Reuters) – Lawmakers are expected to discuss on Thursday a sweetened reform of Venezuela’s main oil after a proposal submitted by interim President Delcy Rodriguez was modified to introduce a new hydrocarbon tax, the possibility of asset privatizations and oilfield operation outsourcing, a draft seen by Reuters showed. The changes are expected to encourage oil … Read more
(Reuters) – U.S. crude production continued to recover on Thursday after a winter storm ravaged production and losses peaked at 2 million barrels per day over the weekend, while analysts adjusted output forecasts for January in the aftermath of outages. Nearly all of North Dakota’s production was back online, Justin Kringstad, director of North Dakota … Read more
(Reuters) – The U.S. Navy has sent an additional warship to the Middle East, a U.S. official told Reuters on Thursday, amid a large military buildup in the region and soaring tensions. The official, who was speaking on the condition of anonymity, said the USS Delbert D. Black had entered the region in the past … Read more
(Reuters) – The Arctic is no longer a frozen periphery, especially not after the U.S. spat with Europe over Greenland. As sea ice melts, the High North is emerging as a strategic hub for energy, shipping and critical minerals. It is warming nearly four times faster than the rest of the planet, but what’s also … Read more
(Reuters) – Europe’s vast natural gas storage network is set to exit winter at its lowest level in years, yet market prices indicate a complacency starkly at odds with the enormous challenge traders face in refilling inventories. Replenishing underground storage has become a central feature of Europe’s gas market – and by extension, the international … Read more
(Reuters) – The U.S. upstream mergers and acquisitions market regained momentum after a mid-year slowdown in the fourth quarter of 2025 reaching $23.5 billion in announced deals and pushing full-year activity to $65 billion, analytics firm Enverus said on Wednesday. The rebound was driven by motivated buyers including refunded private equity teams, increased use of … Read more
(Reuters) – New York’s environmental regulator said on Wednesday that it filed with federal energy regulators to oppose Williams Cos-led Constitution Pipeline’s bid to revive a permit to build the proposed, previously canceled natural gas pipeline from Pennsylvania to New York. Constitution recently petitioned the U.S. Federal Energy Regulatory Commission to reissue a Certificate of … Read more
By Liz Hampton and Georgina McCartney (Reuters) – U.S. crude stocks fell while gasoline and distillate inventories rose last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 2.3 million barrels to 423.8 million barrels in the week ended January 23, the EIA said, compared with analysts’ expectations in a Reuters poll … Read more
WASHINGTON, Jan 28 (Reuters) – The United States is handing over a tanker to Venezuela that it seized this month, two U.S. officials told Reuters on Wednesday, the first known instance in which President Donald Trump’s administration has returned such a tanker. The United States has been carrying out a months-long effort to seize oil … Read more
Summary US-Iran tensions remain key near-term price driver Markets pricing in geopolitical risk premiums US winter storms, Kazakh outages, also adding support (Reuters) – Brent oil futures prices jumped on Thursday, hitting a four-month high on rising concerns of the potential impact a possible U.S. military attack on Iran, OPEC’s fourth-largest producer, with output of … Read more
Citi said on Wednesday that oil prices may stay elevated due to rising geopolitical risks, U.S. restrictions on Russian oil purchases and continued Chinese buying, even as markets entered the year expecting a large oversupply. “Further geopolitical escalation can lift prices to our 0-3m target of $70 a barrel,” the bank said in a note. … Read more
Summary Exxon, Chevron Q4 earnings could be overshadowed by geopolitical intrigue Chevron in the spotlight on Venezuela, only US oil major operating there Exxon signals potential $1.2 billion cut in upstream earnings from low oil prices (Reuters) – Exxon Mobiland Chevron executives may face more questions about their investment opportunities in Venezuela than their actual … Read more
By Nicole Jao NEW YORK, Jan 22 (Reuters) – Top U.S. oil refiners are expected to post stronger fourth-quarter profits as product margins spurred by the ongoing Russia-Ukraine war boosted earnings, energy analysts said. Fuel makers have reaped unexpected profits this year, after from record levels in 2022, a year when a recovery in demand … Read more
Summary Lukoil agrees to sell global assets to Carlyle Group Foreign assets worth about $22 billion -analysts The value of the deal has not been disclosed Transaction with Carlyle dependent on U.S. approval Deal excludes Lukoil’s assets in Kazakhstan, CPC (Reuters) – U.S. private equity firm Carlyle Group has agreed to buy most of Lukoil’s … Read more
By Scott Disavino and Curtis Williams BP and Shell imported LNG from Trinidad amid U.S. winter storm Spot gas prices hit all-time highs due to increased demand and frozen wells Elba Island and Cove Point received unusual LNG imports for high-price opportunity HOUSTON/NEW YORK, Jan 28 (Reuters) – Several liquefied natural gas companies took the … Read more
(Reuters) – Gulf governments are stepping up infrastructure deals with foreign investors, with Kuwait set to launch an oil pipeline network stake sale as soon as February in a deal that could raise up to $7 billion, three sources with knowledge of the matter said. The shift comes as oil prices, down more than 25% … Read more
By Tim McLaughlin and Laila Kearney Transmission congestion leads to soaring electricity prices Natural gas supply issues contribute to generator outages and price spikes PJM high-voltage line restrictions expected to average nearly 13 hours on Thursday BOSTON/NEW YORK, Jan 28 (Reuters) – Transmission line congestion on the largest U.S. power grid is expected to soar … Read more
By Georgina McCartney HOUSTON, Jan 28 – U.S. crude oil producers were bringing wells back online on Wednesday following a severe winter storm that swept across the country over the weekend, straining energy infrastructure and power grids. Domestic crude output is now estimated to be down around 600,000 barrels per day, roughly 4% of total … Read more
(Reuters) – Oil producer Chevron is set to boost exports of Venezuelan crude to the U.S. to some 300,000 barrels per day (bpd) in March, from 100,000 bpd in December and some 230,000 bpd so far this month, two sources with knowledge of the plans said on Wednesday. The U.S. company, which is the main … Read more
Raising funds from oil and gas infrastructure assets, while retaining control, is now firmly part of the playbook of Gulf Arab national oil companies, helping them raise billions of dollars for their ambitious diversification plans. Reuters reported on Wednesday that Kuwait could launch a deal to offer investors a stake in its oil pipeline assets … Read more
By Kate Abnett BRUSSELS, Jan 28 – U.S. President Donald Trump’s push to take over Greenland has been a “wake-up call” to European governments to increase their energy security, the EU’s head of energy policy said on Wednesday. Europe has rapidly increased imports of liquefied natural gas from the U.S. as it races to cut … Read more
By Vallari Srivastava and Sumit Saha Jan 28 (Reuters) – GE Vernova (GEV.N) said on Wednesday that its wind power unit might take about $250 million revenue hit this year due to installation delays at an offshore Massachusetts project and that it was expecting a drop in order backlog. The company said the failure to … Read more
By Julian Hast US natural gas declined in thin trading on Wednesday as some gas production came back into service after being knocked offline by a powerful winter storm that sparked a record-shattering rally. February futures contract dropped 6.1%, or 42 cents, to $6.531 per million British thermal units as of 10:31 a.m. in New … Read more
By Ari Natter A $1.8 billion loan guarantee to an Arizona utility to deploy clean energy are among the projects the Energy Department has canceled following a review of loans made during former President Joe Biden’s administration, according to the department. The conditional loan guarantee to Arizona Public Service Company, a subsidiary of Pinnacle West … Read more
By Mark Chediak and Brian Dowling A US judge said a nearly completed, $4.5 billion wind project off the coast of Massachusetts can resume construction weeks after the Trump administration required all such developments to stop work. US District Judge Brian Murphy on Tuesday granted Vineyard Wind’s request for a preliminary injunction, effectively reviving the … Read more
Infusion of fresh capital and international buyers sharpens competition CALGARY, Alberta (January 28, 2026) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, is releasing its summary of 4Q2025 U.S. upstream M&A activity and full-year analysis. After a midyear slowdown, U.S. upstream M&A … Read more
The European Union’s competition chief warned on Wednesday that the region was becoming increasingly dependent on liquefied natural gas (LNG) imports from the United States and should look at how it can best harness local resources. “We are significantly increasing our dependence on liquefied natural gas imported from the U.S.,” European Commission Executive Vice President … Read more
A severe winter storm that brought heavy snow, sleet and freezing rain has left more than 400,000 homes and businesses without power across a swath of the U.S., from the Ohio Valley and mid-South region to New England. The hardest-hit utilities included Nashville Electric Service (NES) in Tennessee, where 109,156 of 463,455 customers were without … Read more
Summary Shell seeks license for Loran-Manatee discovery, minister says BP seeking to develop Cocuina-Manakin field, minister adds First production from Dragon field hoped for in fourth quarter 2027 (Reuters) – Shell and BP are seeking U.S. licenses to extract natural gas from fields in Trinidad and Tobago and Venezuela, the Caribbean country’s energy minister Roodal Moonilal said … Read more
(Reuters) – Iran’s worst unrest in years has prompted sharp U.S. warnings to Tehran against killing protesters or restarting its nuclear program. Analysts warn that further escalation could push Tehran to target tankers in the Strait of Hormuz or even attempt to shut the waterway, which is vital for oil exports. Below are details about the strait: WHAT … Read more
U.S. officials have said publicly they want the interim president to sever relations with close international allies like Iran, China and Russia, including expelling their diplomats and advisers from Venezuela. But Rodriguez, whose swearing-in ceremony was attended by representatives of those countries early this month, has yet to publicly announce such a move. She became … Read more
(Reuters) – U.S. officials are working to issue a general license soon that would lift some sanctions on Venezuela’s energy sector, three sources familiar with the preparation said on Tuesday, a shift from a previous plan to grant individual exemptions to sanctions for companies seeking to do business in the country. Following the U.S. capture … Read more
By Lara Williams Donald Trump’s hatred of wind power continues. In a speech in Davos last week that managed to upset almost everyone, the US president still found time to get in a few trademark digs at renewable energy. “There are windmills all over Europe… and they are losers,” he said, in a strange anthropomorphism. … Read more
Summary Winter storm disrupts US crude output and exports OPEC+ likely to maintain pause on output increases, sources say US dollar near four-year lows (Reuters) – Oil prices hit their highest since late September on Wednesday after a winter storm disrupted U.S. crude output while a weak U.S. dollar and continued Kazakh outages lent further … Read more
The dollar was on the ropes near multi-year lows on Wednesday after investors sold it aggressively when U.S. President Donald Trump seemed to shrug off its recent decline, while Wall Street marched on to fresh record highs. The dollar’s dive has hoisted the euro over $1.20 for the first time since 2021, sent the Australian … Read more
(Reuters) – The Trump administration has invited the oil and gas industry to nominate areas for a potential sale of offshore oil and gas leases in Southern and Central California to be held as soon as next year. WHY IT’S IMPORTANT The move is part of a push by U.S. President Donald Trump’s Interior Department … Read more
By Dmitry Zhdannikov and Aref Mohammed Chevron seeks improved terms for West Qurna 2 oilfield, sources say Iraq nationalized operatorship of oilfield after U.S. sanctions on Lukoil Iraq has improved oil contract terms in deals with majors in past two years (Reuters – BASRA/LONDON, Jan 27) – U.S. oil major Chevron is pushing Iraq to … Read more
(Reuters) – A commission of Venezuela’s National Assembly has received more than 80 proposals from politicians, lawyers and energy associations seeking changes to a reform of the country’s main oil law, sources close to the talks said, a blow for lawmakers rushing to have the reform approved next week. Interim President Delcy Rodriguez introduced the … Read more
(Reuters) – Mexican President Claudia Sheinbaum, pressed on Tuesday whether Mexico had halted oil shipments to Cuba amid pressure from Washington, said shipment decisions were sovereign in nature and not based on U.S. pressure. However, Sheinbaum appeared to acknowledge that Mexico had halted a planned shipment to Cuba. Asked at her regular morning press conference … Read more
(Reuters) – Exports of crude oil and liquefied natural gas from U.S. Gulf Coast ports tumbled to zero on Sunday before rebounding on Monday, after a massive winter storm swept across the country, ship-tracking service Vortexa said. An Arctic blast has pummeled the United States in recent days, straining energy infrastructure and power grids. Up … Read more
(Reuters) – Where exactly is the expected supply glut in the global crude market? The best answer is China, which saw storage flows surge in December, resulting in a surplus of more than 1 million barrels per day for 2025. China’s surplus of crude oil jumped to 2.67 million bpd in December, up from 1.88 … Read more
(Reuters) – U.S. spot natural gas and power prices soared to record highs in the northeastern part of the country as homes and businesses cranked up their heaters to escape an Arctic chill that cut gas output to a two-year low by freezing oil and gas wells and pipes earlier this week. Cash gas prices … Read more
(Reuters) – The largest U.S. regional electric grid on Tuesday reported nearly 18 gigawatts of power plant outages, leaving a region of 67 million people with a thin buffer of power supplies against frigid weather and a forecast for record-breaking winter demand. The PJM Interconnection reported that most of the generation outages are due to … Read more
(Reuters) – Germany must seek new partners in light of a changing global order, the country’s economy minister said on Tuesday, referring to deteriorated relations with the United States that have resulted in painful import tariffs. “The world has become more uncertain, and alliances that we have trusted and relied on are beginning to crumble,” … Read more
By Eric Roston and Brian Kahn A globe at the COP30 UN Climate Change Conference in Belem, Para State, Brazil. Photographer: Mauro Pimentel/AFP/Getty Images The US officially exited the Paris Agreement on Jan. 27. It’s the second time President Donald Trump has pulled out of the pact that commits almost 200 countries to keep global … Read more
By Emma Sanchez, Dani Burger, and Matthew Miller Baker Hughes Co., one of the world’s biggest oilfield contractors, said it plans to double its data center equipment order target to $3 billion over a three-year period, driven by surging demand for power to run artificial intelligence. The company expects to book roughly $3 billion of … Read more
By Lucia Kassai Chevron Corp. has assembled its largest fleet of vessels in almost a year to ship Venezuelan crude, after the US moved to exert control over the country’s oil sector following the capture of leader Nicolas Maduro. The oil major, which holds a license to export US-sanctioned crude, sent 15 vessels this month … Read more
Democrats shouldn’t be afraid to take more aggressive actions on clean energy, former Energy Secretary Jennifer Granholm said. By Michelle Ma and Mark Chediak President Donald Trump’s scorched-earth approach toward renewable energy can offer inspiration for a future Democratic administration looking to retake the initiative to cut emissions, according to Jennifer Granholm, energy secretary under … Read more
(Reuters) – Surging natural gas prices in the U.S. and Europe have dominated energy market attention so far this year, but several sector stocks that have hit multi-year highs likely encapsulate the broader themes driving energy investing in 2026 as a whole. A slew of North America-listed firms – including the makers of grid components, … Read more
(Reuters) – The head of Abu Dhabi National Oil Company (ADNOC) said global oil demand will remain above 100 million barrels per day through 2040, while demand for both liquefied natural gas (LNG) and electricity will grow by 50% or more. Managing Director and CEO Sultan Ahmed Al Jaber told the India Energy Week conference … Read more
(Reuters) – Oilfield services company Baker Hughes said on Monday that there is significant revenue opportunity in Venezuela, with the main considerations for operating there being safety and conditions for employees, and clarity on legal and regulatory frameworks. The Houston-headquartered company has been working with authorities on Venezuela after the U.S. earlier this month … Read more
U.S. natural gas futures soared by a record 114% over five days to a three-year high on Monday after an Arctic blast over the weekend froze oil and gas wells and pipes, cutting gas production to a two-year low on Sunday. On Monday, front-month gas futures for February delivery on the New York Mercantile … Read more
(Reuters) – Oil prices edged up on Tuesday as a massive winter storm hit crude production and affected refineries on the U.S. Gulf Coast, but the rise was curbed by a resumption in supply from Kazakhstan. Brent crude futures rose 23 cents, or 0.35%, at $65.82 a barrel as at 1017 GMT. U.S. West … Read more
By Julian Lee Oil traders seeking to plot the path for prices this year are juggling sharply different assessments of the supply-demand outlook, from a huge surplus to a broadly balanced market. The world’s three main forecasting agencies — the International Energy Agency, the US Energy Information Administration and the Organization of the Petroleum Exporting … Read more
LONDON, Jan 26 (Reuters) – Britain, Germany, Denmark and other European countries will sign a clean energy pact at a summit in Hamburg on Monday, pledging to deliver 100 gigawatts (GW) of offshore wind power through large-scale joint projects, the British government said. The agreement comes days after U.S. President Donald Trump stepped up criticism … Read more
By Ahmad Ghaddar and Olesya Astakhova LONDON/MOSCOW, Jan 26 (Reuters) – OPEC+ is expected to keep its pause on oil output increases for March at a meeting on Sunday, three OPEC+ delegates told Reuters, with prices rising due to a drop in Kazakhstan’s oil production. The meeting of eight members of OPEC+, which pumps about … Read more
(Reuters) – U.S. oil producers lost up to 2 million barrels per day or roughly 15% of national production over the weekend, analysts and traders estimated, as a winter storm swept across the country, straining energy infrastructure and power grids. Oil production outages peaked on Saturday, consultancy Energy Aspects estimated, with the Permian Basin likely … Read more
(Reuters) – U.S. shale production could fall by as much as 400,000 barrels of oil per day in 2026 if OPEC countries try to increase market share and oil prices fall to as low as $40 a barrel, according to Rystad Energy CEO Jarand Rystad. U.S. shale production could remain flat if prices stay close … Read more
(Reuters) – Cenovus Energy’s 172,000-barrel-per-day Lima, Ohio, refinery experienced mechanical issues caused by a major winter storm that hit much of the United States over the weekend, industry monitor IIR Energy said on Monday. The refinery experienced mechanical issues brought about by the storm on Sunday, IIR Energy said, adding that efforts to fix the … Read more
By Kate Abnett EU to halt Russian LNG by end-2026, pipeline gas by 2027 Companies face penalties for non-compliance with gas ban Hungary to challenge ban in court BRUSSELS, Jan 26 (Reuters) – European Union countries on Monday gave their final approval to ban Russian gas imports by late 2027, making their vow to cut … Read more
(Reuters) – U.S. natural gas futures soared by a record 89% over five days to a three-year high on Monday after an Arctic blast at the weekend froze oil and gas wells, cutting gas production to a two-year low on Sunday. On Monday, front-month gas futures for February delivery on the New York Mercantile Exchange … Read more
US natural gas jumped by almost 20% as freezing weather swept across much of the country, boosting heating demand and disrupting supplies. Front-month futures soared above $6 per million British thermal units for the first time since 2022. That followed a 70% rally last week, the biggest weekly advance in records going back to 1990. The … Read more
Ron Bousso (Reuters) – An Arctic blast sweeping across the U.S. Northeast and Midwest has triggered a sharp rally in natural gas prices on fears of production disruptions. The spike has reverberated across overseas markets, underlining the growing globalization of the U.S.-dominated liquefied natural gas trade. U.S. natural gas futures have surged by almost 70% over the … Read more
Houston firms eye Venezuela’s vast oil reserves amid political uncertainty Smaller investors see Venezuela as high-risk, high-reward opportunity US sanctions complicate oil trade, investment in Venezuela (Reuters) – In a downtown Houston bar, Matthew Goitia, a director at Pelorus Terminals, lays out his early idea to refurbish and build marine terminals that can blend and … Read more
Oil major Exxon Mobil’s subsidiary XTO Energy is seeking buyers for some of its assets in the Eagle Ford shale basin in South Texas, an Exxon spokesperson confirmed to Reuters in a statement. In recent days, top U.S. oil major Exxon opened a virtual data room to begin marketing the assets, two sources told Reuters earlier. The … Read more
(Reuters) – The U.S. takeover of Venezuela’s oil exports has re-routed crude barrels that were being used to service debt owed to China. How much does Venezuela owe China, and how and why was the country getting debt payments after Venezuela’s default? HOW MUCH DOES VENEZUELA OWE CHINA? Data on Venezuela’s debt is sketchy, particularly … Read more
By Arathy Somasekhar and Tanay Dhumal SLB says it is receiving lots of inquiries from customers about Venezuela Company had over $1 billion in annual revenue from Venezuela a decade ago Rival Halliburton has said it is working through mechanics around licenses HOUSTON, Jan 23 (Reuters) – U.S. oilfield service company SLB said on Friday … Read more
Power prices in the largest U.S. grid rose sharply on Sunday as demand in a region with the world’s largest concentration of energy-hungry data centers surpassed forecasts during a deep freeze gripping half the country. Real-time wholesale electricity prices topped $1,800 per MWh early Sunday in Dominion Energy’s Virginia territory, up from $200 per … Read more
Summary US winter storm disrupts crude production Geopolitical tensions with Iran add to market uncertainty Kazakhstan’s Caspian Pipeline resumes full capacity after maintenance (Reuters) – Oil prices edged higher on Monday after climbing more than 2% in the previous session, as output disruptions in major U.S. crude-producing regions and tensions between the U.S. and Iran … Read more
The United States is in talks with Chevron, other crude producers, and major oilfield service providers about a plan to quickly raise Venezuela’s crude production, Bloomberg News reported on Saturday, citing senior administration officials. Officials have discussed deploying SLB, Halliburton and Baker Hughes to repair and replace outdated equipment, and refresh older drilling sites, … Read more
Summary Snow, sleet, freezing rain, dangerous cold expected Sunday Federal emergency declarations approved in at least 12 states Outages impact states including Mississippi, Louisiana, Texas More than 10,000 flight cancellations on Sunday (Reuters) – More than 1 million customers in the U.S. as far west as New Mexico were without electricity and over 10,000 flights … Read more
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By Robert Cyran NEW YORK, Jan 23 (Reuters) – Greenland deal or no, the international order is fraying. As the Trump administration ramped up – before stepping back from – brazen territorial claims, Canadian Prime Minister Mark Carney captured the mood at the World Economic Forum in Davos: “Great powers have begun using economic integration … Read more
The Mexican government is reviewing whether to keep sending oil to Cuba amid growing fears within President Claudia Sheinbaum’s administration that Mexico could face reprisals from the United States over the policy, which is a vital lifeline for the Communist-run Caribbean island, according to three sources familiar with the discussions. A U.S. blockade of oil … Read more
U.S. President Donald Trump’s administration is considering imposing a total blockade on oil imports to Cuba as part of possible new tactics to drive leadership change in the Caribbean country, Politico reported on Friday, citing three people it said were familiar with the plan. While no decision has been made, such a move has been … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by 1 to 544 in the week to January … Read more
By Shariq Khan Trump escalates pressure against Iran Warships to arrive in Middle East in coming days, US official says US sanctions vessels involved in transporting Iranian oil Kazakhstan oil output yet to resume NEW YORK, Jan 23 (Reuters) – Oil prices settled at their highest in over a week on Friday after U.S. President … Read more
(Reuters) – HOUSTON, Jan 23 – North Dakota crude output is currently down by 80,000 barrels per day to 110,000 bpd as operators shut production in due to cold weather, the state regulator said on Friday. “It is warming up next week so I don’t anticipate any long term production impacts,” said Justin Kringstad, Director … Read more
(Reuters) – The United States, since its 2003 invasion of Iraq, has held effective control over the country’s oil revenue dollars, giving Washington extraordinary leverage over Baghdad’s affairs, with implications for regional dynamics involving Iran. How does the U.S. control Iraq’s oil revenues? The U.S. control over Iraq’s oil revenues primarily stems from the management … Read more
(Reuters) – Oil production in North Dakota rose 12,000 barrels-per-day (bpd) to 1,189,000 bpd in November, monthly data from the state Industrial Commission showed. Bakken and Three Forks oil production stood at 1,159,000 bpd in the month. The data was released on the North Dakota Industrial Commission’s general statistics webpage and has been rounded to … Read more
(Reuters) – U.S. natural gas futures rose on Friday and has gained over 68% so far this week, lifted by forecasts for extreme cold over the next two weeks that is expected to drive heating demand to near-record levels and freeze oil and gas wells, cutting output. On Friday, front-month gas futures for February delivery … Read more
(Reuters) – Kazakhstan’s energy ministry said on Friday that it had held talks on energy cooperation with the U.S. Department of Energy and the U.S. embassy in the Central Asian country, which is a major energy producer, accounting for around 2% of daily oil supply. In a statement posted on Telegram, the ministry said that … Read more
(Reuters) – SLB beat Wall Street estimates for fourth-quarter profit on Friday, helped by steady demand for its oilfield equipment and services in North America. U.S. crude production was expected to hit a record 13.41 million barrels per day in 2025, according to Energy Information Administration forecast, benefiting oilfield services companies. Quarterly revenue from SLB’s … Read more
(Reuters) – U.S. control of Venezuela’s oil exports has ensnared barrels that had been servicing debt to China, lining up another potential showdown between the two superpowers that could further complicate the South American country’s path out of default. Around a tenth of Venezuela’s $150 billion foreign debt pile is estimated to be loans from … Read more
US natural gas futures pared a record breaking three-day rally, after traders finished exiting short positions and the market braced for a historic winter storm. Front-month contracts dropped as much as 7.6% to $4.660 per million British thermal units on Friday, after surging 63% over the previous three sessions. Prices were still on track for their biggest … Read more
The oil-services giant is moving idled equipment overseas as US shale growth slows Halliburton Co. just offered some of the best evidence yet that fracking, which turned the US into the biggest oil and gas producer, is spreading around the world. The Houston-based company, which fracks more wells than anyone, said on Wednesday that it has shifted … Read more
Takeaways by Bloomberg AI The Trump administration has no plans to directly provide security to oil producers in Venezuela, according to Energy Secretary Chris Wright. Wright said the US involvement in controlling the flow of funds in Venezuela gives the US leverage to reduce criminality and improve business conditions. Wright plans to travel to … Read more
Takeaways by Bloomberg AI The Trump administration is canceling almost $30 billion of financing from the Energy Department’s green bank after reviewing transactions approved under former President Joe Biden. The Energy Department plans to revise another $53 billion of funding and has eliminated about $9.5 billion in financing for wind and solar projects. The Energy … Read more
Summary LNG futures to be listed on Shanghai Futures Exchange Contracts could shift market influence to China from West China’s LNG imports forecast to rise 12% this year (Reuters) – China is set to offer domestic-listed, yuan-denominated liquefied natural gas (LNG) futures contracts as soon as next month, people with knowledge of the matter said, … Read more
By Monique Mulima A sizzling rally in energy stocks over the past few months has the group reaching a new high as rising geopolitical uncertainty pushes investors to bet on elevated oil prices. The S&P 500 Energy Index rose 2.4% to close at $750.17 on Wednesday, making it the best performing sector in the S&P … Read more
By Sing Yee Ong, Elena Mazneva, and Julian Hast US natural gas futures surged about 75% in three days, rocketing to the highest price since 2022, as frigid weather sweeps across major markets for the heating fuel and forces traders to cover bearish positions. More than 175 million people across the country will face snow, … Read more
By Ruth Liao Venture Global Inc. won a dispute with Spain’s Repsol SA involving the sale of liquefied natural gas cargoes from its export plant in Louisiana. An arbitration tribunal found Venture Global acted as a “reasonable and prudent operator,” the company said in a filing Wednesday. The tribunal also awarded fees to Venture Global. … Read more
Summary Oil prices had dropped on Thursday as Greenland tension subsided Supply disruption concerns offered price support Kazakhstan’s Tengiz oilfield yet to resume output (Reuters) – Oil prices rebounded on Friday after U.S. President Donald Trump renewed threats against Iran, raising concerns of military action that could disrupt crude supplies while there are outages … Read more
Summary Wright criticizes EU and California’s green energy policies EU scales back corporate sustainability laws after pressure Occidental exited California due to state regulations, Hollub says (Reuters) – The world needs to more than double oil production, U.S. Energy Secretary Chris Wright said on Thursday, while criticizing the European Union and the U.S. state of … Read more
(Reuters) – Valero has bought a cargo of Venezuelan crude oil, two sources said on Wednesday, one of the first deals by U.S. Gulf Coast refiners that are part of Washington’s agreement with Caracas to export up to 50 million barrels. Phillips 66 has also purchased a cargo, one of the sources said. Both bought … Read more
(Reuters) – Winter electricity demand on the largest U.S. power grid – the PJM Interconnection – is expected to set an all-time record next week as large swaths of the United States brace for an Arctic blast of cold weather. PJM’s seven-day forecast on Thursday morning predicted 144,465 megawatts of demand on January 27. That … Read more
(Reuters) – The Trump administration is allowing China to purchase Venezuelan oil but not at “unfair, undercut” prices at which Caracas sold the crude before the U.S. removed its leader Nicolas Maduro, an administration official said on Thursday. While the oil will be sold in the global marketplace, the U.S. administration has required that the … Read more
(Reuters) – Investment firm Kimmeridge plans to nominate former Pioneer Natural Resources CEO Scott Sheffield to Coterra Energy’s board, the Wall Street Journal reported on Thursday, citing people familiar with the matter. Kimmeridge has said Coterra’s board must reassess its leadership structure and appoint an independent, non-executive chair, the report said, adding that it expects … Read more
(Reuters) – A profound proposed reform of Venezuela’s hydrocarbons law would allow foreign and local companies to operate oilfields on their own through a new contract model, commercialize output and receive sale proceeds even if acting as minority partners of state company PDVSA, drafts seen by Reuters on Thursday showed. Venezuela’s interim President Delcy Rodriguez … Read more
By Weilun Soon Rates to ship crude on tankers are surging more widely across the world after the US moved to exert control over Venezuelan flows, a trade once primarily handled by a dark fleet of aging vessels. Shipowners are deploying legitimate tankers near the US Gulf in anticipation of higher demand for vessels instead … Read more
BEIJING, Jan 22 (Reuters) – China defended its wind power record and reinforced its commitment to promote the global transition to low-carbon energy, after U.S. President Donald Trump’s criticism at the World Economic Forum annual meeting in Davos, Switzerland. “China’s efforts to tackle climate change and promote the development and application of renewable energy in … Read more
By Gavin Maguire LITTLETON, Colorado, Jan 22 (Reuters) – Judging by state and local filings alone, the U.S.’ data center computing capacity could jump by close to 1,000% if all projects currently planned come to fruition. That’s a big “if,” however, as it is widely known that some of the plans filed by so-called hyperscalers … Read more
DAVOS, Switzerland, Jan 22 (Reuters) – Global oil glut predictions are seriously exaggerated as demand growth remains strong and global oil stocks are depleted, Amin Nasser, chief executive of Aramco , the world’s biggest oil producer, said on Thursday. Oil prices have traded above $60 per barrel for most of 2025 with analysts predicting a decline … Read more
By Marianna Parraga Seven tankers departed Venezuela since January 12 under deal Crude is being stored in Caribbean terminals Many offers to final customers not leading to sales yet Jan 21 (Reuters) – Venezuelan oil exports under a flagship $2 billion supply deal with the U.S. reached about 7.8 million barrels on Wednesday, vessel-tracking data … Read more
(Reuters) – U.S. natural gas futures soared to a six-week high on Wednesday, marking a record 57% rise over the past two trading sessions, on expectations that extreme cold weather will boost heating demand to near-record levels while also cutting output by freezing oil and gas wells. After soaring about 26% on Tuesday, front-month gas … Read more
(Reuters) – Blackstone is in talks to sell its Beacon Offshore Energy, which operates oil and gas assets in the U.S. Gulf of Mexico for more than $5 billion, Bloomberg News reported on Tuesday, citing people familiar with the matter. The asset manager has begun early talks with investment banks about a possible listing of … Read more
Summary Trump steps back from tariff threats over Greenland IEA revises up forecasts for 2026 global oil demand growth US crude stocks up by 3.04 million barrels last week, API says (Reuters) – Oil prices slipped on Thursday, reversing the previous sessions’ gains, after U.S. President Donald Trump softened threats against Greenland and Iran, and as investors assessed the supply … Read more
By Nicole Jao NEW YORK, Jan 21 (Reuters) – U.S. refineries are preparing for extreme cold weather as an unexpected Arctic blast rolls in, threatening to disrupt operations. A cold front will bring frigid temperatures to the eastern two-thirds of the country, the National Weather Service said on Wednesday, expecting sub-zero lows to spread from … Read more
(Reuters) – The volume of Venezuelan oil exported under a flagship $2 billion supply deal with the U.S. reached about 7.8 million barrels on Wednesday, vessel-tracking data and PDVSA documents showed, highlighting slow progress that has prevented the state oil company from fully reversing recent output cuts. Caracas and Washington earlier this month agreed a … Read more
(Reuters) – Saudi Arabia’s crude oil exports in Nov rose to 7.378 million barrels per day from 7.098 million bpd in Oct, official data showed on Wednesday. Monthly export figures are provided by Riyadh and other members of the Organization of the Petroleum Exporting Countries (OPEC) to the Joint Organizations Data Initiative (JODI), which published … Read more
(Reuters) – U.S. Energy Secretary Chris Wright told oil company executives on Wednesday that Venezuela’s output can rise 30% from its current level of 900,000 barrels per day in the short- to medium-term, three executives who attended the meeting said. Raising crude output from Venezuela, which sits on the world’s largest oil reserves, is a … Read more
By Ron Bousso (Reuters) – Spiralling trade tensions between the U.S. and Europe over President Donald Trump’s bid to buy Greenland have once again left the bloc highly vulnerable in a geopolitical tussle because of its heavy dependence on a single supplier for its critical energy needs. Less than four years ago, Europe’s economy was … Read more
The latest IEA’s Monthly Gas Statistics report including October 2025 data shows that for Total OECD: Production of natural gas increased by 2.6% compared to October 2024. Imports (entries)1 of natural gas were 8.4% higher on a year-on-year basis, and total OECD exports (exits)1 increased by 10.5% in the same period. Gross consumption of natural gas increased by 5.0% compared to October 2024. 1Transit … Read more
The latest IEA’s Monthly Oil Statistics report including October 2025 data shows that for Total OECD: Production of crude oil, NGL and refinery feedstocks grew by 3.2% compared to the same month last year. Refinery gross output of total products decreased (-1.0%) on a year-on-year basis. Net deliveries of total products decreased in October 2025 compared to October 2024 (-0.4% y-o-y). Oil … Read more
Summary Global demand growth revised 70,000 bpd higher on lower tariff impacts in 2026 Oil prices have risen about 6% so far this year OPEC+ has paused output hikes (Reuters) – The global oil market will be in deep surplus in the first quarter of 2026, the International Energy Agency said on Wednesday, as so … Read more
ANCHORAGE, Alaska–(BUSINESS WIRE)–Glenfarne Group, LLC (“Glenfarne”) subsidiary Glenfarne Alaska LNG, LLC, majority owner and developer of the Alaska LNG Project, and Danaos Corporation (“Danaos”) (NYSE: DAC), one of the world’s largest independent owners of containerships, today announced a strategic partnership to advance Alaska LNG. Under the agreement, Danaos will facilitate the construction and operation of … Read more
(Reuters) – Venezuela’s interim president Delcy Rodriguez said on Tuesday that the country has received $300 million from oil sales, the first proceeds from U.S. President Donald Trump’s announced 50-million-barrel oil supply deal with Caracas, following the capture of President Nicolas Maduro earlier this month. Trump said separately on Tuesday his country had taken the … Read more
(Reuters) – U.S. President Donald Trump said on Tuesday that his administration had taken 50 million barrels of oil out of Venezuela, and was selling some of it in the open market. “We’ve taken 50 million barrels of oil out of Venezuela in the first four days. We’ve got millions of barrels of oil left. … Read more
By Niccolo Conte | Article/Editing: Bruno Venditti | Graphics/Design: Amy Realey Key Takeaways Russia, Iran, and Qatar together hold more than half of the world’s proven natural gas reserves. Natural gas reserves are heavily concentrated in a small number of countries, shaping global energy and geopolitics. Natural gas plays a critical role in the global … Read more
(Reuters) – Oil and gas firm APA Corp said on Tuesday it curtailed production by about 91 million cubic feet per day of U.S. natural gas and 7,600 barrels per day of U.S. natural gas liquids in the fourth quarter in response to weak prices. It expects fourth-quarter average realized natural gas prices in the … Read more
Enverus releases Top 50 Public E&P Operators of 2025 ExxonMobil holds No. 1; ConocoPhillips surges as Permian Basin strength and consolidation reshape U.S. production AUSTIN, Texas (Jan. 21, 2026) — Enverus, the leading energy SaaS and analytics platform, has released its annual list of the top public onshore exploration and production (E&P) companies in the … Read more
Summary Oil output at two Kazakh fields to be halted for 7-10 days, sources say US tariff pressure over Greenland, US stockpile data weigh on oil prices US-Iran risks remain high, analysts say (Reuters) – Oil prices rose on Wednesday as investors assessed a temporary shutdown at two large fields in Kazakhstan, expectations of a … Read more
Summary Q4 adjusted EPS 69 cents vs forecast 55 cents Q4 international revenue up 2.9%, North America flat (Reuters) – Halliburton surpassed analysts’ expectations for fourth-quarter profit on Wednesday, on the back of steady demand for its services and equipment in international markets. Shares of the oilfield services company rose nearly 2.6% in premarket trading. The … Read more
The KOOL TIGER LNG Tanker is docked at the Freeport LNG facility in Quintana, Texas, U.S., June 23, 2025. REUTERS/Joel Angel Juarez/File Photo Summary Global supply to rise to as much as 484 million tons in 2026 Asia 2026 demand to rise as much as 7%, led by China and India Europe imports driven by … Read more
China’s crude oil imports from top supplier Russia fell 0.7% year-on-year in December to 9.33 million metric tons, or 2.2 million barrels per day, but hit the highest level for 2025. Imports from Malaysia, the largest trans-shipment hub for sanctioned Iranian oil, fell 37.9% to 4.14 million tons, or 0.97 million bpd. Imports from Indonesia … Read more
(Reuters) – Oil production at Kazakhstan’s vast Tengiz oil field, one of the world’s largest, could be halted for another 7-10 days after shutting down on Sunday, cutting crude exports via the Caspian Pipeline Consortium, three industry sources told Reuters. The field’s operator Tengizchevroil (TCO) said on Monday that due to power supply problems, production … Read more
(Reuters) – U.S. natural gas futures soared 27% to a three-week high on Tuesday on forecasts for much colder weather and higher heating demand over the next two weeks than previously expected that forced some traders to cover short positions. After falling to a 13-week low before the long Martin Luther King Jr. holiday weekend, … Read more
To speed the construction of new energy plants, the Trump administration called for an emergency power auction. They favor gas, coal and nuclear. By Josh Saul When the Trump administration called Friday for an emergency power auction in an ambitious bid to speed the construction of big power plants and tame skyrocketing power bills, top … Read more
Concerns over a global crude glut have pressured prices, weighing on profits. By David Wethe Harold Hamm, the billionaire wildcatter who helped kick off the US shale oil revolution, is once again making history. This time it’s a sign of retrenchment. Hamm said he’s about to shut down drilling in North Dakota’s Bakken for the … Read more
The biggest weekly price swings in two years show the power of speculative traders By Priscila Azevedo Rocha After a period of relative calm, intense volatility has returned to European gas prices. The region’s benchmark futures plunged 10% on Monday after surging 30% last week. There were real reasons for prices to be moving — … Read more
The U.S. offshore wind industry has faced other difficulties, including soaring inflation and supply chain snarls Bloomberg News Dominion said in court papers that it is losing about US$5 million a day on vessel contracts alone because of the Dominion Energy Inc. can restart construction of a wind project off the coast of Virginia while it continues … Read more
Summary US threatens tariffs on European states over Greenland China reported better-than-expected Q4 GDP data China reported higher crude oil output for 2025 Brent, WTI prices edge lower (Reuters) – Oil prices were steady on Tuesday as investors monitored U.S. President Donald Trump’s threats of higher tariffs on European states over his drive to acquire Greenland, while … Read more
Ron Bousso (Reuters) – President Donald Trump has lavished the U.S. oil industry with favourable policies since returning to the White House, but his twin demands for cheap oil and “energy dominance” are increasingly colliding with companies’ bottom lines. Over the past year, the Republican president has rolled out numerous pro‑fossil fuel measures and offered strong support … Read more
By Sing Yee Ong US natural gas futures jumped as the weather outlook for late January shifted colder, with blasts of Arctic air set to sweep the eastern part of the country, raising demand for the fuel that’s used for heating and power generation. Futures for February delivery rose as much as 14% to $3.550/mmbtu … Read more
(Reuters) – The year 2025 in the LNG sector will be one for the history books after production and exports of the super-chilled fuel smashed records and raked in billions of dollars in revenues across the global liquefied natural gas supply chain. A 25% surge in LNG purchases by European countries was a key highlight … Read more
By Jennifer A Dlouhy and Naureen S Malik A power substation near a data center in Ashburn, Virginia. Photographer: Nathan Howard/Bloomberg President Donald Trump and the governors of several US Northeastern states agreed to push for an emergency wholesale electricity auction that would compel technology companies to effectively fund new power plants. The unprecedented plan, … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row for the first time since mid-December, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, … Read more
By Jennifer A Dlouhy and Will Wade Trump administration officials vowed to keep US coal power plants operating, casting it as an imperative to meet surging electricity demand and drive a revival of the nation’s industrial base. “The goal is 100% open,” said Interior Secretary Doug Burgum. “That’s the standard we’re operating against.” Burgum’s comment … Read more
Oil prices fell 1% on Monday, reversing the previous session’s gains, as civil unrest in Iran subsided, lowering the chance of a U.S. attack that could disrupt supply from the major Middle Eastern producer. Brent crude was trading at $63.48 a barrel at 0912 GMT, down 65 cents or 1%. U.S. West Texas Intermediate for … Read more
Summary Chevron’s export capacity from Venezuela could increase with new license terms US aims to sell Venezuelan oil at higher prices post-Maduro Funds from oil sales may eventually move to US banks, Energy Secretary Wright suggests (Reuters) – The U.S. is moving as fast as it can to grant Chevron an expanded license for its … Read more
Oil majors have grown more efficient in the years since the shale bubble burst in 2014, pumping record production with a fraction of the workforce. By Julia Fanzeres and Will Kubzansky An oilfield crew works a service rig during a state-funded oil well plugging operation in Midland. Photographer: Eli Hartman/Bloomberg The US oil and gas … Read more
Across the United States, heavy industries—from oil and gas to petrochemicals, power generation, mining, and metals—are operating under increasing pressure. Production demands are rising, labor shortages are growing, and regulatory expectations remain high. In this environment, even a single equipment failure can trigger costly downtime, safety risks, and environmental consequences. Many operators are now asking … Read more
(Reuters) – Oil prices were little changed on Monday, after rising in the previous session, as Iran’s deadly crackdown on protests quelled the civil unrest in the country, reducing the chance of a U.S. attack on the major Middle Eastern producer that could disrupt supplies. Brent crude was trading at $64.18 a barrel by 0158 … Read more
(Reuters) – President Volodymyr Zelenskiy said on Saturday that he had ordered imports of electricity and additional power equipment to be accelerated as much as possible as Ukraine confronts its worst wartime energy crisis. The government has declared an energy emergency as the system, damaged by relentless Russian strikes, is meeting only 60% of electricity … Read more
Summary Companies Governors, Trump administration sign two-year price cap deal for future PJM power auction PJM grid covers 67 million people in 13 mid-Atlantic and inland states Rising power bills cause political backlash in PJM region(Reuters) – The White House on Friday urged the largest U.S. electric grid to conduct an emergency power auction to … Read more
Four Venezuelan banks were notified this week by the country’s government that they will split $300 million of oil revenues deposited in an account in Qatar, enabling them to sell dollars to Venezuelan companies that need foreign exchange to pay for materials, two financial sources and an analyst said. The injection of foreign capital … Read more
(Reuters) – The U.S. government is not currently considering using Venezuelan oil in an exchange with U.S. oil companies to refill the country’s Strategic Petroleum Reserve, the Department of Energy said on Friday. Earlier on Friday, Reuters reported that two sources said the Trump administration was exploring a plan that would deliver Venezuelan oil to … Read more
Winter brings unique challenges for oil and gas operators, from safety risks and equipment downtime to harsh conditions that put entire sites at risk. At Kathairos, ensuring reliability and peace of mind during these critical months is a top priority. We sat down with Patrick Dwyer, Project Manager, to discuss how Kathairos’ systems are designed … Read more
(Reuters) – U.S. oil refiners are expected to have about 724,000 barrels per day of capacity offline in the week ending January 16, decreasing available refining capacity by 450,000 bpd, research company IIR Energy said on Friday. Offline capacity is expected to rise to 1.1 million in the week ending January 23, IIR said. The … Read more
Summary Benchmark prices hit multi-month highs this week Underlying balance still points to ample supply, says analyst Potential new supply from Venezuela limits price gains (Reuters) – Oil prices settled higher on Friday as some investors covered short positions ahead of the three-day Martin Luther King holiday weekend in the U.S. and lingering worries about … Read more
By Stephen Stapczynski, Priscila Azevedo Rocha, and Archie Hunter Steve Hill, left. Photographer: Danielle Villasana/Bloomberg Steve Hill, who was hired by Mercuria Energy Group in 2024 to build out its liquefied natural gas business, is leaving the trading house. Hill was part of the company’s efforts to expand into the fast-growing global LNG market. Before … Read more
(Reuters) – A federal judge on Friday will consider whether to allow Dominion Energy to resume construction on its $11.2 billion Virginia offshore wind project in a lawsuit against the Trump administration over its suspension of the venture. The hearing in U.S. District Court for the Eastern District of Virginia will be the third time … Read more
By Ron Bousso LONDON, Jan 15 (Reuters) – Simultaneous geopolitical flare‑ups in Venezuela, Iran and the Black Sea have pushed oil prices to a three‑month high, creating a treacherous environment for investors even as a large supply glut still looms over the market. Brent crude opened the year at $61 a barrel before slipping below … Read more
By Gavin Maguire LITTLETON, Colorado, Jan 15 (Reuters) – Despite all the policy whiplash – or perhaps because of it – the U.S. energy system has started 2026 with more buzz and momentum than seen in decades. At home, electricity production is growing far faster than in most western peers, which is allowing utilities to … Read more
By David Wethe, Annmarie Hordern, and Jonathan Ferro Shale billionaire Harold Hamm said oil companies need guarantees that their assets won’t someday be seized by Venezuela if they help revive the nation’s crude production. “There is a lot of geopolitical risk in Venezuela. Exxon had been there twice and been nationalized, ” Hamm said in … Read more
Summary Deal includes $5.2 billion in equity, $2.33 billion in debt It marks Mitsubishi’s biggest acquisition Mitsubishi aims to strengthen gas value chain Aethon Energy likely to buy back up to 25% interest (Reuters) – Japanese trading house Mitsubishi Corp. will buy the U.S. shale production and infrastructure assets of Aethon Energy Management for $7.53 billion, … Read more
Summary Benchmark prices hit multi-month highs this week Significant price volatility remains likely, say BMI analysts Underlying balance still points to ample supply, says Phillip Nova analyst (Reuters) – Oil prices rose slightly on Friday as supply risks remained in focus despite the receding likelihood of a U.S. military strike against Iran. Brent crude gained … Read more
U.S. Energy Secretary Chris Wright said on Thursday the U.S. is getting a 30% higher price for Venezuelan crude oil than Venezuela got before U.S. special forces captured President Nicolas Maduro earlier this month. “We’re getting about a 30% higher realized price when we sell the same barrel of oil than they sold the same … Read more
Venezuela’s interim President Delcy Rodriguez said on Thursday that she was submitting a proposal to reform the country’s hydrocarbon law, as investors in the U.S. push for easier access to the South American country’s oil industry. Rodriguez said the reforms would “allow these investment flows to be incorporated into new fields, fields where no investment … Read more
Devon Energy and Coterra Energy are exploring a potential merger, in a deal that could create one of the largest independent U.S. shale producers, people familiar with the matter said. A possible combination, which would rank among the largest between U.S. energy producers in recent years, comes as U.S. crude prices remain pressured by a … Read more
(Reuters) – Russia’s federal budget revenues from oil and gas dropped by 24% in 2025 to the lowest level since 2020, according to Finance Ministry data, as oil prices fell while the rouble appreciated. Oil and gas revenue is the leading source of cash for the Kremlin, making up a quarter of federal budget proceeds … Read more
(Reuters) – Abu Dhabi state oil firm ADNOC is weighing entering Venezuela’s energy industry and could seek a partnership with another international producer to participate in the nation’s gas projects, Bloomberg News reported on Thursday, citing people familiar with the matter. Reuters could not immediately verify the report. XRG, ADNOC’s international investments arm set up … Read more
By Jack Wittels Weak oil prices are making it harder for the shipping industry to decarbonize, according to the president of commodities giant Cargill Inc.’s freight-trading business. With a chartered fleet of more than 600 ships, Cargill has been at the forefront of the shipping industry’s efforts to cut carbon. Now, it’s hiring five new … Read more
By Anthony Di Paola The United Arab Emirates’s state oil giant is evaluating options for a potential entry into Venezuela’s energy industry as the Middle Eastern country seeks to build out its international natural gas business, according to people with knowledge of the situation. Abu Dhabi National Oil Co. is watching developments in Venezuela, with … Read more
President Donald Trump said on Wednesday that he believes it would be better for Venezuela to remain in the Organization of the Petroleum Exporting Countries, or OPEC, but added he was unsure if that would be a better situation for the United States. “Well, I think it’s better for them if they do it,” Trump … Read more
(Reuters) – Saudi Aramco and Commonwealth LNG have signed a long-term contract for the U.S. LNG developer to supply the world’s largest oil exporter with 1 million metric tonnes per annum (mtpa), three people familiar with the deal tell Reuters. The deal includes an option for Saudi Aramco to double the volume to 2 mtpa. … Read more
Venezuelan crude oil was being offered this week to U.S. Gulf Coast refiners at a premium to competing Canadian barrels, two traders said. Venezuelan Merey-16 oil was offered for U.S. Gulf Coast delivery at a discount of around $6 to Brent crude futures earlier this week, a trader said, while West Canadian Select at Houston … Read more
(Reuters) – Chevron is expected to receive an expanded Venezuela license from the U.S. government this week that could allow for increased production and exports from the South American country, three oil industry sources told Reuters on Wednesday. The U.S. oil producer is anticipated to be one of several firms to get approvals from President … Read more
Summary Trump says killings in Iran are stopping Brent, WTI fall over 3% EIA reports sharp rise in US crude and gasoline inventories (Reuters) – Oil prices tumbled more than 3% on Thursday after U.S. President Donald Trump said that killings of demonstrators during protests in Iran were ending, easing concerns over military action against … Read more
(Reuters) – The Energy Information Administration (EIA) projects that the U.S. benchmark natural gas spot price at Henry Hub will decline by about 2% to just under $3.50 per million British thermal units (mmBtu) this year, before gaining in 2027 to nearly $4.60 per mmBtu. The EIA attributed the decline to annual supply growth keeping … Read more
(Reuters) – The U.S. has completed the first sales of Venezuelan oil that are part of a $2 billion deal reached earlier this month between Caracas and Washington, a U.S. official told Reuters on Wednesday. Additional sales are expected in the coming days and weeks, the official added. Revenue from the initial oil sales – … Read more
As oil and gas producers face increasing pressure to reduce emissions and validate performance, having access to real-time, high-integrity data is no longer optional—it’s essential. Kathairos Solutions introduces Atlas, an advanced digital platform purpose-built to deliver clear operational visibility, tailored reporting, and actionable emissions insights. Atlas centralizes site-level data and simplifies complex decision-making by combining smart … Read more
Blackrod SAGD goes full-scale after 15 years of pilot testing By Deborah Jaremko Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The Blackrod SAGD project. Photo courtesy International Petroleum Corporation For the first time in nearly eight years, a brand-new oil sands project is operating in Alberta. It’s … Read more
(Reuters) – U.S. natural gas futures fell about 7% on Wednesday on a drop in preliminary gas flows to liquefied natural gas export plants in Texas. That price drop came despite a preliminary decline in daily production and forecasts for colder weather and more heating demand next week than previously expected. Front-month gas futures for … Read more
(Reuters) – U.S. crude stocks and gasoline inventories rose while distillate stockpiles fell last week, the Energy Information Administration said on Wednesday. Crude stocks rose by 3.4 million barrels to 422.4 million barrels in the week ended January 9, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.7 million-barrel draw. … Read more
By Javier Blas John D. Rockefeller, the godfather of the modern oil industry, called his tactic of purposely crashing oil prices and sending the stocks of his rivals into a tailspin “a good sweating.” Soon after, he’d conveniently buy shares cheaply. For the following century, one of the few certainties of petroleum investing was that … Read more
By David Wethe Venezuela’s return to growth in the global oil market following the US capture of long-time leader Nicolas Maduro is forecast to boost crude output by roughly 50% over the coming decade, according to industry consultant Enverus. Production is expected to reach about 1.5 million barrels a day by 2035. The outlook by … Read more
(Reuters) – China’s oil imports from Venezuela are expected to slump starting from February as fewer tankers have managed to leave for Caracas’ top crude buyer after the U.S. claimed control of the OPEC producer, traders and analysts said. The number of oil tankers departing Venezuela for China has fallen sharply after U.S. President Donald … Read more
(Reuters) – Canadian Natural Resources is in talks to buy a $1-billion-plus portfolio of natural gas properties from Tourmaline Oil Corp, Globe and Mail reported on Wednesday, citing two sources familiar with the negotiations. The report said Canadian Natural filed the paperwork for federal Competition Bureau approval of a transaction with Tourmaline on December 30, … Read more
1 Avoided Event = 1 Less Investigation Headwind Solutions Positive Air Shut Off Valves are proudly built in North America. Each of our valves is built with Billet 6061 aluminum which is far more durable than any other brand’s shut off valve. Billet 6061 aluminum has a raw yield strength of 35000 psi, almost as high as … Read more
BP expects to book $4 billion to $5 billion in impairments in the fourth quarter, mainly related to its energy transition businesses, it said on Wednesday, while flagging weak oil trading. The company is rerouting spending from lower-carbon businesses to oil and gas in a bid to improve profitability under the new leadership of Chair … Read more
Summary Only 3 shipments passed US blockade since mid-December Venezuelan oil in transit to Asia near 43 million barrels – Kpler Venezuelan oil discharges into China hit record in November – Vortexa China made up 75% of Venezuelan oil export in 2025 – PDVSA (Reuters) – China’s oil imports from Venezuela are expected to slump … Read more
Summary Iran protests raise supply disruption fears, geopolitical risks Venezuela resumes oil exports amid US embargo reversal US crude stocks rise, API says, indicating looser supply-demand balance LONDON, Jan 14 (Reuters) – Oil prices rose on Wednesday for a fifth straight session on fears of Iranian supply disruptions due to a potential U.S. attack on … Read more
(Reuters) – A U.S. judge on Wednesday will consider whether to allow Norwegian offshore wind developer Equinor to resume construction of the Empire Wind project off the coast of New York as the company sues the Trump administration over its suspension of the industry in federal waters. The hearing in U.S. District Court in Washington comes two … Read more
The U.S. Energy Information Administration forecasts U.S. electricity use to rise by 1% this year and 3% in 2027, marking the first time since 2007 that power demand has risen for four years in a row and the strongest four-year growth period since 2000.“The driving factor behind this surge is increasing demand from large computing … Read more
A Canadian tycoon who heads one of North America’s fastest-growing oil companies is advocating for his country to lend its heavy oil expertise to the United States as it seeks to rebuild Venezuela’s oil industry. Adam Waterous, the executive chair of Strathcona Resources, said Canada’s decades of experience extracting oil sands crude make it uniquely … Read more
Summary US has seized five sanctioned vessels as it keeps grip on Venezuelan exports More seizures could come, but action paused since Friday Russia, which relies on shadow fleet, has said seizures were illegal (Reuters) – The U.S. government has filed for court warrants to seize dozens more tankers linked to the Venezuelan oil trade, … Read more
(Reuters) – U.S. crude production will ease in 2026 and 2027 after reaching a record high in 2025, while petroleum demand will hold steady this year, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. EIA projected crude production will slide to 13.59 million barrels per day (bpd) … Read more
(Reuters) – U.S. natural gas output will rise to a record high in 2026, while demand will decline, the U.S. Energy Information Administration said in its Short-Term Energy Outlook on Tuesday. EIA projected dry gas production will rise from a record 107.4 billion cubic feet per day in 2025 to 108.8 bcfd in 2026 and … Read more
(Reuters) – The Trump administration on Tuesday proposed a rule revising Biden-era pollution protections for waterways, a move the Environmental Protection Agency said would speed permitting of energy and artificial intelligence infrastructure. The proposed rule would revise a 2023 rule by former President Joe Biden’s administration on Section 401 of the Clean Water Act that … Read more
Workers at BP’s refinery in Whiting, Indiana are in contract negotiations with the British oil major, which has proposed changes including job cuts at the 440,000-barrel-per-day facility, the United Steelworkers union said on Tuesday. The local USW union represents around 800 workers at Whiting, the largest refinery in the U.S. Midwest. The current three-year collective … Read more
(Reuters) – The discount on U.S. crude futures to the global benchmark Brent has grown by around $1 per barrel since the U.S. ousted Venezuelan President Nicolas Maduro on January 3 and took control of the South American country’s oil flows, redirecting millions of those barrels to U.S. ports in a move likely to boost … Read more
(Reuters) – Lower oil prices are expected to cut U.S. drilling activity and reduce output 1% this year from the top producing country, while potentially higher output from Venezuela could add pressure, the Energy Information Administration said on Tuesday. The comments from the Department of Energy’s statistical arm add to worries expressed by some U.S. … Read more
(Reuters) – Cheniere Energy will process 10 billion cubic feet per day (bcf/d) of natural gas by the end of 2026, CEO Jack Fusco said on Tuesday at an API event in Washington. Fusco said he saw room for the U.S. to continue growing as an exporter. Reporting by Curtis Williams in Houston; Editing by … Read more
(Reuters) – Venezuela’s state oil company has begun reopening some of the wells it and its joint venture partners had shut amid a strict U.S. embargo, as crude exports resume with two shipments departed on Monday, three sources close to operations said. The OPEC country’s oil exports had remained almost at a standstill since December, … Read more
Annual analysis explains changing U.S. load expectations, expanding long-term oil supply potential in Venezuela and selective investments across the energy transition AUSTIN, Texas (Jan. 13, 2026) — Enverus, the leading energy SaaS and analytics platform, is releasing its 2026 Global Energy Outlook, a comprehensive overview that frames the year around hydrocarbon prices, power system realities, upstream … Read more
(Reuters) – Cubans are bracing for impact after U.S. President Donald Trump vowed to cut off a lifeline of Venezuelan oil from reaching Cuba, setting up a siege scenario for an island already reeling from crippling blackouts and shortages. Venezuela, once the island’s top supplier, has not sent crude or fuel to Cuba for about … Read more
Summary Trump claims control over Venezuela’s oil reserves Roszarubezhneft took over Rosneft’s Venezuelan holdings in 2020 Roszarubezhneft says it will continue working in Venezuela (Reuters) – Oil assets that Russia develops in Venezuela belong to Russia, which will continue working there, Moscow said on Tuesday, after U.S. President Donald Trump’s claims of control over the … Read more
(Reuters) – U.S. shale producer Diamondback Energy on Monday flagged lower prices for its oil production in the fourth quarter, compared to the preceding three months. Oil prices declined 9.2% during the three months ended December 31, as concerns about oversupply and tariffs outweighed geopolitical risks. The company said the average realized prices, or the … Read more
Summary Drones hit tankers near terminal which exports Kazakh oil Ukrainian drone attacked CPC terminal on November 29 Kazakh oil output down 35% in Jan. 1–12, source says (Reuters) – Four Greek-managed oil tankers were hit by unidentified drones on Tuesday in the Black Sea on the way to load oil at the Caspian Pipeline … Read more
(Reuters) – If record-high U.S. stock prices accurately reflect investors’ assessment of the first year of Trump 2.0, then it’s a glowing scorecard for the most interventionist government in decades. It’s yet another example of the topsy-turvy economic world where the global norms and orthodoxies of the last 40 years are being questioned and sometimes … Read more
Oil prices are likely to drift lower this year as a wave of supply creates a market surplus, although geopolitical risks tied to Russia, Venezuela and Iran will continue to drive volatility, Goldman Sachs said in a note on Sunday. The investment bank maintained its 2026 average price forecasts of $56/$52 per barrel for Brent/WTI, … Read more
Oil prices surge on possible Iranian supply disruption Summary Iran faces biggest anti-government demonstrations in years Unrest in Iran adds $3-4 a barrel risk premium, Barclays says US tariffs on Iran could hit oil exports to China (Reuters) – Oil prices extended gains on Tuesday as heightened concerns surrounding major producer Iran and potential supply … Read more
(Reuters) – Workforce security and policy reform including contract sanctity are among the prerequisites that have to be in place in Venezuela for the U.S. oil industry to move in, American Petroleum Institute President Mike Sommers said on Monday during a telephone conference with journalists. He said the move to remove Nicolas Maduro from power … Read more
Summary Exxon surprised by Trump’s remarks on Sunday Exxon, ConocoPhillips face long-term re-entry challenges Chevron is the only US major operating in Venezuela HOUSTON, Jan 12 (Reuters) – Exxon Mobil remains interested in visiting Venezuela and is prepared to send an assessment team there, a source familiar with the company’s strategy told Reuters on Monday, a … Read more
(Reuters) – U.S. Supreme Court justices wrestled on Monday over whether lawsuits by Louisiana officials seeking to hold oil and gas companies, including Chevron and Exxon Mobil, responsible for harming the state’s coast should be moved out of the Bayou State’s courthouses and into federal court. The justices during a little more than an hour … Read more
(Reuters) – Private equity giant Carlyle, a group comprising oil major Chevron and Quantum Capital Group as well as UAE-based investor International Holding Company are competing for the global assets of Russia’s Lukoil as a U.S. deadline to sell them expires this week, sources said. The United States imposed sanctions on Lukoil and its peer … Read more
(Reuters) – Iran has a record amount of oil on the water, equivalent to about 50 days of output, with China having bought less because of sanctions and Tehran seeking to protect its supplies from the risk of U.S. strikes, data from Kpler and Vortexa shows. The amount of Iranian crude and condensate, either on … Read more
US to push for quicker action in reducing reliance on China for rare earths Summary US Treasury’s Bessent said frustrated with lack of urgency G7 plus India, South Korea, Australia and Mexico to attend China dominates critical minerals production (Reuters) – U.S. Treasury Secretary Scott Bessent will urge Group of Seven nations and others to … Read more
U.S. President Donald Trump said on Sunday that he might block Exxon Mobil from investing in Venezuela after the oil major’s CEO called the country “uninvestable” during a White House meeting last week. Exxon CEO Darren Woods told Trump that the Venezuelan market is “uninvestable” in its current state. Venezuela seized Exxon’s and Conoco’s assets in … Read more
Ron Bousso U.S. President Donald Trump attends a meeting with oil industry executives, at the White House in Washington, D.C., U.S., January 9, 2026. REUTERS/Evelyn Hockstein LONDON, Jan 12 (Reuters) – Big Oil companies have injected a heavy dose of realism into U.S. President Donald Trump’s plan to rapidly invest billions in Venezuela, pointing to … Read more
(Reuters) – Norway’s government said on Monday it will present a policy document to parliament next year on the future of the oil and gas industry, including companies’ access to exploration acreage. “The oil and gas industry is crucially important for Norway, and should be developed, not phased out,” Prime Minister Jonas Gahr Stoere said … Read more
(Reuters) – A U.S. judge on Monday will consider a request from Danish energy company Orsted for an injunction against the Trump administration’s decision to halt its $5 billion Revolution Wind project off the coast of Rhode Island. The company’s lawsuit is one of several filed by offshore wind companies and states seeking to reverse the Interior Department’s December … Read more
U.S. Energy Secretary Chris Wright said on Friday that Chevron saw a pathway to grow its Venezuela production by 50%, with his comments coming after a meeting that President Donald Trump had with oil companies on the South American nation. Chevron “said with the actions that were taken and some additional things we can do for … Read more
If it’s successful, and that’s a big if, Trump’s imperialistic investment would pay off shortly after US oil output peaks. By Peter Millard Rusty pipelines. Unchecked spills. Decades of chronic underinvestment, brain drain and mismanagement. Venezuela’s oil industry is in shambles, and restoring it to its former glory would cost an estimated $100 billion—if Big … Read more
(Reuters) – U.S. President Donald Trump signed an executive order aimed at blocking courts or creditors from impounding revenue tied to the sale of Venezuelan oil held in U.S. Treasury accounts, the White House said on Saturday. The emergency order said the revenue, held in foreign government deposit funds, should be used in Venezuela to help create … Read more
U.S. Treasury Secretary Scott Bessent speaks during a press conference in Washington, D.C., U.S., December 17, 2025 Summary US Treasury chief aims to facilitate oil sale proceeds repatriation to Venezuela Bessent says will meet with IMF and World Bank on Venezuela next week Treasury chief eyes mobilization of Venezuela’s $5 billion in frozen IMF reserve … Read more
Summary Iran says situation ‘under total control’ after weekend violence Iran protest deaths exceed 500, rights group says Companies scramble to find ships for Venezuelan oil -sources LONDON, Jan 12 (Reuters) – Oil prices dipped on Monday after Iran said it had total control following the biggest anti-government demonstrations in years, easing some concerns over supply from … Read more
Summary Vitol, Trafigura have global sales, shipping, logistics U.S. oil majors wary of legal, credit, physical risks Venezuelan oil stored on old ships, was heading to China (Reuters) – Global oil trading houses have emerged as early winners in the race to control Venezuelan crude flows, getting ahead of U.S. energy majors wary of credit … Read more
Summary Exxon requires security guarantees before sending team to Venezuela Venezuela’s hydrocarbons law needs reform for investment, Woods says Chevron is preparing for an immediate bump in production Jan 9 (Reuters) – Exxon Mobil CEO Darren Woods said on Friday the U.S. oil major is ready to evaluate a potential return to Venezuela in what … Read more
Data shows millions of tons of methane spewing from the nation’s decaying energy infrastructure, underscoring how much work is required to revive production. By Aaron Clark An image captured by EMIT on September 24, 2025, shows five emissions on the same day and in the same area.Source: Kayrros SAS, processed L1B image from NASA/JPL-Caltech’s EMIT … Read more
The Trump administration wants the oil majors to rebuild the nation’s energy industry. Chevron has been on the ground there for decades. By Brian Wall With Venezuela President Nicolás Maduro in a jail cell in New York, Donald Trump moved on to the next stage of his plan for the South American nation. The US … Read more
By Reshmi Basu The New Fortress Energy liquefied natural gas terminal near the Port of San Juan in Puerto Nuevo, Puerto Rico. Photographer: Alejandro Granadillo/Bloomberg New Fortress Energy Inc. is asking its creditors for yet more time to hash out a debt restructuring before a forbearance period on some of its borrowings expires, according to … Read more
(Reuters) – U.S. President Donald Trump began a meeting to discuss Venezuela with executives from some of the world’s largest oil companies at the White House on Friday, saying he wants them to invest $100 billion in the country to vastly expand its production. The meeting reflects the importance of oil to Trump’s strategy for … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by two to 544 in … Read more
By Georgina McCartney and Arathy Somasekhar Trump aims for $50 oil, below profitable level for U.S. producers Venezuelan oil redirection to pressure U.S. shale margins U.S. refineries to benefit from Venezuelan oil influx HOUSTON, Jan 9 – U.S. oil producers already reeling from low oil prices are facing renewed pressures, as President Donald Trump pushes … Read more
(Reuters) – The U.S. involvement in Venezuela’s oil sector offers a potential opportunity for international banks, with JPMorgan Chase in an advantageous spot due to its history in the country and past involvement with international trade financing. A clutch of banks including JPMorgan and Citigroup have historically operated in the country, but reduced operations or … Read more
By Didi Tang And Bernard Condon A banner on the front end of a bus features images of Venezuelan President Nicolas Maduro and China’s Xi Jinping with a message that reads in Spanish: “An example for the world,” during a government-organized rally opposing U.S. intervention, in Caracas, Venezuela, Saturday, Dec. 13, 2025. (AP Photo/Cristian Hernandez) … Read more
Summary Iran unrest, Russia-Ukraine war raise supply concerns Global inventories rise, oversupply may limit price gains White House to meet oil firms to discuss Venezuela NEW YORK, Jan 9 (Reuters) – Oil prices rose 2% on Friday on growing supply worries linked to intensifying protests in oil-producing Iran and an escalation of attacks in Russia’s war … Read more
CALGARY – U.S. President Donald Trump’s ambition to have U.S. energy companies swoop in and revive Venezuela’s beleaguered oil industry has raised questions about what it means for Canadian oilsands producers and whether it’s a task American supermajors can or even want to take on. Here is a rundown of the past and potential of … Read more
(Reuters) – Shell narrowed its projected range for fourth-quarter liquefied natural gas production but kept it within previous guidance, it said in a trading update on Thursday, as it warned of a loss in its chemicals business. It said its chemicals and products segment’s earnings will be below break-even in the fourth quarter, dragged down … Read more
(Reuters) – U.S. Energy Secretary Chris Wright said there was room to balance roles for both the United States and China in Venezuela to allow for commerce but that Washington would not allow Beijing to have major control over the Latin American country. In an interview on Fox Business Network, Wright also said he expected … Read more
(Reuters) – DENVER, Jan 7 – U.S. crude stocks fell while gasoline and distillate inventories rose last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.8 million barrels to 419.1 million barrels in the week ended January 2, the EIA said, compared with analysts’ expectations in a Reuters poll for a … Read more
Summary Investors skeptical about Venezuela’s political stability and investment costs Chevron, ConocoPhillips cautious about rushing into Venezuela investments, sources say US plans three-phase process for Venezuela’s recovery, Rubio says (Reuters) – U.S. oil executives being summoned to the White House on Friday to discuss potential investment plans in Venezuela will be carefully weighing the country’s … Read more
(Reuters) – The White House is convening a meeting on Friday with major U.S. and international oil companies to discuss potential investment in Venezuela’s energy sector, as the administration weighs ways to revive crude output in the sanctions-hit country, according to a White House official. The companies include producers, refiners, traders and oilfield services firms … Read more
(Reuters) – Refineries along the U.S. Gulf Coast from Corpus Christi, Texas to Pascagoula, Mississippi are configured to run the heavy sour, corrosive crude oil produced by Venezuela that President Donald Trump plans to sell in the U.S., following the capture last weekend of Nicolas Maduro. Beginning in the 1990s, refiners reconfigured their plants with … Read more
The U.S. Senate advanced a resolution on Thursday that would bar President Donald Trump from taking further military action against Venezuela without congressional authorization, paving the way for further consideration in the 100-member chamber. The vote on a procedural measure to advance the war powers resolution was 52 to 47, as a handful of Trump’s … Read more
(Reuters) – The U.S. move to seize foreign vessels in international waters seriously violates international law, the Chinese foreign ministry said on Thursday. “China has always opposed illegal unilateral sanctions without the basis of international law and without the authorisation of the United Nations Security Council,” ministry spokesperson Mao Ning said at a press conference. … Read more
The following is an update to the fourth quarter 2025 outlook and gives an overview of our current expectations for the fourth quarter. Outlooks presented may vary from the actual fourth quarter 2025 results and are subject to finalisation of those results, which are scheduled to be published on February 5, 2026. Unless otherwise indicated, … Read more
(Reuters) – President Donald Trump plans to import previously sanctioned Venezuelan oil into the U.S., tearing up the global energy playbook and underscoring the seriousness of the administration’s ambition to dominate the Western Hemisphere. China may be the ultimate target of this “Donroe Doctrine”- Trump’s rebranding of a 19th-century doctrine that asserted Washington’s zone of … Read more
The United States could oversee Venezuela and control its oil revenue for years, President Donald Trump said in an interview published on Thursday. During what the New York Times described as a wide-ranging, two-hour interview, the paper said Trump also appeared to lift a threat to take military action against Venezuela’s neighbour Colombia. Trump invited … Read more
Summary Norway’s petroleum output seen broadly steady in 2026 Output seen gradually declining towards 2030 Oil investments seen down nearly 7% in 2026 vs 2025 Lower demand to hit supplier industry (Reuters) – Norway’s offshore oil and gas output will remain broadly steady in 2026, but investments are seen falling by 6.6%, signalling a … Read more
Summary US boarded tanker that escaped blockade and put up Russian flag US also seized second Venezuela-linked tanker Venezuela’s main buyer China denounces US ‘bullying’ (Reuters) – The U.S. seized two Venezuela-linked oil tankers in the Atlantic Ocean on Wednesday, one sailing under Russia’s flag, as part of President Donald Trump’s aggressive push to dictate oil … Read more
(Reuters) – The discount on Western Canada Select to North American benchmark West Texas Intermediate futures grew on Wednesday to its widest point in 18 months as investors digested U.S. President Donald Trump’s deal to import up to $2 billion worth of Venezuelan crude. WCS for February delivery in Hardisty, Alberta, settled at $14.45 a … Read more
Summary Brent and WTI benchmarks firm US crude stocks fell last week while fuel stocks rose, says EIA Two Venezuela-linked oil tankers seized by US in Atlantic Ocean (Reuters) – Oil prices rose on Thursday after two days of declines as investors assessed Venezuela developments and reports on progress of proposed U.S. sanctions legislation against … Read more
U.S. President Donald Trump and his advisers are planning an initiative to dominate the Venezuelan oil industry for years to come, and the president told aides he believes his efforts could help lower oil prices to $50 a barrel, the Wall Street Journal reported on Wednesday. A plan under consideration includes the U.S. exerting some … Read more
(Reuters) – U.S. oil major Exxon Mobil said on Wednesday that lower crude oil prices could cut its fourth-quarter upstream earnings by about $800 million to $1.2 billion. Oil prices declined 9.2% during the three months ended December 31, as concerns about oversupply and tariffs outweighed geopolitical risks. Brent crude futures shed about 19% in … Read more
Summary Expanded license would boost Chevron supply to own refineries Chevron could sell Venezuelan oil to other refiners Washington also wants Exxon, Conoco, Valero involved in Venezuelan oil exports (Reuters) – Oil producer Chevron is in talks with the U.S. government to expand a key license to operate in Venezuela so it can increase crude exports … Read more
(Reuters) – EOG Resources said on Wednesday that oversupply from Venezuela is driving oil prices down and it would last for several more quarters. Brent crude futures were down about 0.6% at $60.30 a barrel in the day, while U.S. West Texas Intermediate crude lost about 1% to $56.53 a barrel. Prices fell as investors … Read more
(Reuters) – Russia said on Wednesday that the U.S. seizure of a Russian-flagged oil tanker in the Atlantic was a violation of maritime law, and a senior lawmaker described it as “outright piracy”. Russia’s Transport Ministry said contact with the vessel, the Marinera, had been lost after U.S. naval forces boarded it near Iceland as … Read more
By Yawen Chen LONDON, Jan 7 (Reuters Breakingviews) – Orsted (ORSTED.CO) has been reminded again that offshore wind developers can do many things right but can still be undone by politics. U.S. President Donald Trump’s 90-day halt on new wind projects is the latest jolt for the $27 billion Danish power group. For CEO Rasmus … Read more
By Idrees Ali, Phil Stewart and Marianna Parraga US boarded boat that escaped blockade and put up Russian flag Trump announces deal to import up to 50 million barrels of crude Venezuela’s main buyer China denounces US ‘bullying’ Oil prices fall on anticipated supply increase Opposition leader Machado’s hope for election on hold WASHINGTON, Jan … Read more
Jan 7 (Reuters) – U.S. Energy Secretary Chris Wright said on Wednesday the government wants to refill the country’s Strategic Petroleum Reserve and is already adding oil, though not as quickly as he would like. Speaking at the Goldman Sachs Energy, CleanTech & Utilities Conference in Miami, Wright said U.S. President Donald Trump had lobbied … Read more
Chevron and private equity group Quantum Energy Partners are teaming up on a bid to buy the international assets of Russian oil major Lukoil, which are valued at $22 billion, the Financial Times reported on Wednesday. Chevron, Quantum, Lukoil and the White House did not immediately respond to requests for comment. Reuters reported in November … Read more
The vessel tanker Bella 1 at Singapore Strait, after U.S. officials say the U.S. Coast Guard pursued an oil tanker in international waters near Venezuela, in this picture taken from social media on March 18, 2025. Hakon Rimmereid/via REUTERS WASHINGTON, Jan 7 (Reuters) – The United States is attempting to seize a Venezuela-linked oil tanker … Read more
Overview Oil prices diverged from the broader trend of rising metals and North American natural gas. WTI fell to lows near US$55/bbl, driven by abundant U.S. supply, growing output from Canada and Guyana, and continued flexibility from OPEC, which together outpaced demand growth. Profoundly impacted by past downturns, Canadian producers became resilient, supported by stronger … Read more
Summary Trump announces deal to import up to 50 million barrels of crude Venezuela’s main buyer China denounces U.S. ‘bullying’ Oil prices fall on anticipated supply increase Captured leader Maduro’s allies keep power in Venezuela Opposition leader Machado’s hope for election on hold for now (Reuters) – Global oil prices fell on Wednesday and China denounced … Read more
U.S. President Donald Trump will meet with oil company executives at the White House late this week to discuss ways to revive Venezuela’s tattered oil sector, according to three sources familiar with the matter. Two of the sources told Reuters the meeting was likely to happen on Friday. It was not immediately clear who would … Read more
Summary Trump says Venezuela to export $2 billion worth of oil to US Deal to redirect Venezuelan oil exports to US from China Both benchmarks extend declines from previous session (Reuters) – Oil prices fell on Wednesday after President Donald Trump said the United States had reached a deal to import up to $2 billion worth of … Read more
MIAMI (AP) — In 2017, as political outsider Donald Trump headed to Washington, Delcy Rodríguez spotted an opening. Then Venezuela’s foreign minister, Rodríguez directed Citgo — a subsidiary of the state oil company — to make a $500,000 donation to the president’s inauguration. With the socialist administration of Nicolas Maduro struggling to feed Venezuela, Rodríguez … Read more
(Reuters) – Venezuelan and U.S. officials are discussing exporting Venezuelan crude to refiners in the United States, five government, industry and shipping sources told Reuters on Tuesday. Venezuela has millions of barrels of oil loaded on tankers and in storage tanks that it has been unable to ship due to a blockade on exports imposed … Read more
(Reuters) – The Trump administration on Tuesday dismissed analysts’ estimates that it would take years to ramp up Venezuela’s crude production, saying there were ways to quickly boost the country’s oil sector. Raising crude output from the South American nation, which sits on the world’s largest oil reserves, is a top objective for President Donald … Read more
LONDON, Jan 6 (Reuters) – Shell (SHEL.L) has agreed to buy stakes in two undeveloped offshore blocks in ultra-deep waters offshore Angola from Chevron (CVX.N), the European energy major said on Tuesday. European oil majors have said they will spend billions in Angola, Sub-Saharan Africa’s second-largest crude oil producer after Nigeria. The country has undertaken … Read more
By Marianna Parraga Chevron’s loadings and crude exports flowing normally Slow loading at Jose, Bajo Grande could put more pressure on output cuts Many loaded vessels remain undeparted in Venezuelan waters Jan 6 (Reuters) – Venezuela was loading crude only for U.S. major Chevron (CVX.N) on Tuesday, while operations by state-run oil firm PDVSA to … Read more
By Arathy Somasekhar and Georgina Mccartney US Gulf Coast refiners set to benefit if Venezuelan sanctions end Canadian crude will lose pricing power if Venezuelan oil flows freely Chinese independent refineries will seek alternatives if Venezuelan crude is redirected HOUSTON, Jan 6 (Reuters) – A full-scale resumption of Venezuelan oil exports would benefit refiners in … Read more
Summary Deal to redirect Venezuelan oil exports to US from China Trump says agreed volume to supply is 30-50 million barrels Exports expected to stem further cuts to Venezuelan output Chevron only US firm currently authorized to export Venezuelan oil US Interior Secretary says US Gulf refiners would take advantage HOUSTON/WASHINGTON, Jan 6 (Reuters) – … Read more
(Reuters) – There were likely many motives behind America’s capture and arrest of Venezuelan President Nicolas Maduro on Saturday, but one little-discussed factor could be the White House’s concerns about the waning global prominence of the “petrodollar.” Venezuela’s oil output is currently modest at barely 1 million barrels per day, but its reported reserves of … Read more
Refiner Phillips 66 said on Tuesday in a Goldman Sachs conference that it has two Gulf coast refineries which can turn and process Venezuela crudes as they ramp up. Reporting by Vallari Srivastava and Pooja Menon in Bengaluru; Editing by Tasim Zahid
Venezuela’s main oil ports on Tuesday entered their fifth day without delivering crude for state-run PDVSA’s customers in Asia, which are the OPEC country’s main buyers, shipping data showed, as the U.S. presses the nation through an oil embargo. Chevron, which is PDVSA’s main joint-venture partner, on Monday resumed exports of Venezuelan oil to the … Read more
By Javier Blas A Madrid protestor holds a caricature of Donald Trump drinking from a Venezuelan oil barrel by Portuguese cartoonist Vasco Gargalo. Photographer: THOMAS COEX/AFP Let’s do the math. Start with the oil production of the US and add Canada. Then include Venezuela and the rest of Latin America, from Mexico to Argentina and … Read more
A former top Chevron executive, Ali Moshiri, is raising $2 billion for Venezuelan oil projects after the U.S. captured its leader Nicolas Maduro and President Donald Trump said Washington would take control of the oil-producing nation, the Financial Times reported on Monday. Moshiri’s investment fund, Amos Global Energy Management, has identified multiple Venezuelan assets and … Read more
By Sing Yee Ong US natural gas futures dropped to the lowest since late October amid forecasts for warmer temperatures next week, which is likely to reduce demand for the fuel. Futures for February delivery declined as much as 5.9% to $3.404/mmbtu in early Asian trading on Monday The contract was at $3.470/mmbtu as of … Read more
By Gavin Maguire LITTLETON, Colorado, Dec 30 (Reuters) – For supporters of the energy transition, 2025 had plenty to complain about: the scrapping of U.S. clean energy policies, wind droughts in Europe, corporate retreats from wind power generation and a resurgence in coal-fired power output. Yet there were also developments to celebrate, including record deployment … Read more
(Reuters) – Pipeline company Energy Transfer said on Tuesday it expects to invest $5.0 billion to $5.5 billion in growth capital in 2026, primarily on projects enhancing its natural gas network.
Summary US to meet oil executives to discuss Venezuelan production boost Analysts predict sufficient supply by 2026 despite uncertainties Reliance Industries halts Russian crude deliveries for January (Reuters) – Oil prices edged slightly higher on Tuesday as the market weighed expectations of ample global supply this year against uncertainty around Venezuelan crude output following the … Read more
Utility Vistra said on Monday it has agreed to buy Cogentrix Energy, comprising 10 natural gas-fired power plants, from Quantum Capital Group for about $4.7 billion, as it looks to meet growing power demand. Shares of the company rose nearly 5% in extended trading. The deal includes about $2.3 billion in cash, $900 million in … Read more
(Reuters) – U.S. President Donald Trump is giving U.S. energy companies the opportunity to revive Venezuela’s massive, derelict oil industry. It’s an offer they may want to refuse. After the U.S. military’s ouster of Venezuelan President Nicolas Maduro at the weekend, representatives of the Trump administration plan to meet with oil executives later this week to discuss boosting Venezuelan … Read more
Summary Top oil companies not initially consulted, executives say Trump wants US firms to invest billions, boost Venezuelan oil output Costs, political uncertainty may hinder progress Meetings with Trump administration now expected, a source said Trump says US may subsidize oil firms to rebuild infrastructure (Reuters) – The administration of President Donald Trump is … Read more
(Reuters) – China is a major customer of and investor in Venezuela’s oil sector, which President Donald Trump aims to revive following the U.S. military’s ouster of President Nicolas Maduro on Saturday. Years of mismanagement, underinvestment and, more recently, U.S. sanctions have slashed Venezuelan crude production to about 1.1 million barrels per day (bpd) last … Read more
(Reuters) – Venezuelan leader Nicolas Maduro’s capture by the United States has deprived Vladimir Putin of an ally and could increase U.S. “oil clout”, but Moscow is eying potential gains from President Donald Trump’s division of the world into spheres of influence. Special Forces seized Maduro only eight months after the Russian president agreed a … Read more
(Reuters) – Here are key facts about international oil companies in Venezuela, a country with the world’s largest oil reserves thrown into crisis by the capture of President Nicolas Maduro by U.S. forces. In the 2000s, former President Hugo Chávez expropriated assets from several foreign oil companies, strengthening state-owned PDVSA’s control over the country’s oilfields. … Read more
(Reuters) – The main risk to the U.S. economy from the Trump administration’s capture of Venezuela’s leader over the weekend would stem from rising oil prices, Minneapolis Federal Reserve President Neel Kashkari said on Monday, but that does not appear to be underway so far. The risk is “mostly through oil prices,” Kashkari said in … Read more
(Reuters) – Delcy Rodriguez, declared the interim president of Venezuela after Nicolas Maduro’s capture by U.S. forces, is one of the iron fists in Venezuelan politics, a practitioner of economic orthodoxy who has strived to build relationships with the private sector and who is known for her taste for luxury. Over more than a decade … Read more
(Reuters) – An oil tanker chartered by U.S. Chevron carrying some 300,000 barrels of Venezuelan heavy crude bound for the U.S. Gulf Coast departed on Monday from the OPEC country’s waters, shipping data showed, after a four-day pause in the company’s exports of Venezuelan oil. Chevron is the only company currently authorized by Washington to … Read more
(Reuters) – United Nations Secretary-General Antonio Guterres raised concerns on Monday about a possible intensification of instability in Venezuela after the U.S. capture of the Latin American country’s president Nicolas Maduro. The 15-member Security Council met at U.N. headquarters in New York just hours before Maduro was due to appear in a Manhattan federal court … Read more
About a dozen tankers loaded with Venezuelan crude and fuel departed in recent days from the country’s waters in dark mode, seemingly breaking a strict blockade imposed by the U.S. amid intense pressure that mounted until the capture of deposed President Nicolas Maduro, monitoring service TankerTrackers.com said. All the identified departed vessels are under U.S. … Read more
Bloomberg News Secretary of State Marco Rubio said the U.S. will use leverage over oil to force further change in Venezuela as he seizes a long-awaited chance to try to shape Latin America in Washington’s favor. Rubio, 54, emerged Sunday as the administration’s chief public voice on Venezuela, laying out hints of strategy after the … Read more
David Blackmon Subscribe to David Blackmon on Substack Here The Roosevelt Corollary to the Monroe Doctrine: “Chronic wrongdoing, or an impotence which results in a general loosening of the ties of civilized society, may in America, as elsewhere, ultimately require intervention by some civilized nation, and in the Western Hemisphere the adherence of the United … Read more
Summary Energy storage could be game changer for lithium – analyst says Demand bolstered by China power sector reforms, data centre boom BEIJING/SINGAPORE, Jan 5 (Reuters) – A boom in battery storage has bolstered the demand outlook for lithium in 2026, driving hopes for an accelerated turnaround for an industry struggling with oversupply. The lithium … Read more
(Reuters) – Crude output in Venezuela is set to increase over a period of time following the dramatic U.S. strike and capture of its president, likely raising global supply and weighing on prices longer-term, oil analysts said. American forces seized Venezuelan President Nicolas Maduro from Caracas over the weekend, and U.S. President Donald Trump said Washington would … Read more
Summary Govt wants US oil giants to finance investment to revive Venezuelan oil sector Security, legal and political risks challenge Venezuela’s oil sector revival (Reuters) – White House and State Department officials have told U.S. oil executives in recent weeks that they would need to return to Venezuela quickly and invest significant capital in the … Read more
Global investors are facing a fresh surge in geopolitical risk after the U.S. capture of Venezuelan President Nicolas Maduro, a move that could unlock the nation’s vast oil reserves and boost risky assets over the longer-term but prompt a flight to safety when trading resumes. President Donald Trump said the U.S. would take control of … Read more
Summary Venezuela’s acting president offers to collaborate with U.S. OPEC+ keeps oil output steady amid turmoil among members Trump says U.S. embargo on Venezuelan oil remains in place (Reuters) – Oil prices slipped on Monday as ample global supplies offset concerns about the impact on oil flows from the U.S. capture of President Nicolas Maduro … Read more
(Reuters) – U.S. oil companies’ shares jumped on Monday, fueled by the prospect of access to Venezuela’s vast oil reserves after President Donald Trump said the U.S. would take control of the South American nation following the arrest of its president. Venezuela holds the world’s largest oil reserves, but production plummeted in recent decades due to mismanagement, … Read more
After removing President Nicolas Maduro from power, the Trump administration is gambling that it can intimidate the Venezuelan leader’s inner circle into toeing the U.S. line with threats of further military action that could put them at risk of a similar fate, according to sources familiar with the matter. President Donald Trump’s advisers also believe … Read more
Venezuela’s toppled leader Nicolas Maduro was in a New York detention center on Sunday awaiting drug charges after President Donald Trump ordered an audacious raid to capture him, saying the U.S. would take control of the oil-producing nation. The image of the 63-year-old Maduro blindfolded and handcuffed en route to the U.S. has stunned Venezuelans … Read more
The U.S. military’s ouster of Venezuelan President Nicolás Maduro is set to swiftly reroute the country’s oil exports back toward the United States – and away from China. That will give U.S. refiners an immediate boost, but President Donald Trump’s plans to revive production in the Latin American country may be slower to materialize. Speaking … Read more
United Nations Secretary-General Antonio Guterres is deeply alarmed by U.S. military action in Venezuela that sets “a dangerous precedent,” his spokesperson said on Saturday ahead of a likely U.N. Security Council meeting. Venezuela and Colombia, backed by Russia and China, have asked for the 15-member Security Council to meet, diplomats said, after the U.S. attacked … Read more
Venezuela’s oil exports, which had fallen to a minimum amid U.S. President Donald Trump’s announced blockade of all sanctioned tankers going in and out of the country’s waters, are now paralyzed as port captains have not received requests to authorize loaded ships to set sail, four sources close to operations said on Saturday. The … Read more
The United States said it had struck Venezuela and captured its long-serving President Nicolas Maduro on Saturday, after months of accusing him of drug-running and illegitimacy in power, marking a dramatic escalation in geopolitical tensions. “The United States of America has successfully carried out a large-scale strike against Venezuela and its leader, President Nicolas … Read more
President Donald Trump said that American oil companies were prepared to enter Venezuela and invest to restore production in the South American country, an announcement that came just hours after Nicolás Maduro was captured and removed by U.S. forces. “We’re going to have our very large U.S. oil companies, the biggest anywhere in the world, … Read more
At 4:21 on Saturday morning, President Donald Trump sent a message on his Truth Social platform: the United States had carried out a daring mission to capture Venezuelan President Nicolas Maduro and his wife. The action came as a surprise, but according to sources familiar with the matter, planning for one of the most complex … Read more
The United States is going to be “very strongly involved” in Venezuela’s oil industry in the wake of the operation to capture Venezuelan President Nicolas Maduro, President Donald Trump told Fox News on Saturday. “We have the greatest oil companies in the world, the biggest, the greatest, and we’re going to be very much involved … Read more
(Reuters) – Following are key facts about the oil industry of Venezuela, whose President Nicolas Maduro was captured by U.S. forces on Saturday, according to U.S. President Donald Trump. RESERVES Venezuela has the world’s largest oil reserves but its crude output remains at a fraction of capacity due to mismanagement, lack of investment and sanctions, … Read more
Summary OPEC+ likely to maintain oil output freeze in Q1 2026, sources say No sign yet that Saudi-UAE tensions over Yemen will affect OPEC+ talks Oil prices fell over 18% in 2025 amid oversupply concerns (Reuters) – OPEC+ will likely maintain steady oil output at its meeting on Sunday, three OPEC+ delegates said on Friday, … Read more
By David Blackmon As many people are no doubt aware by now, President Donald Trump ordered a surgical U.S. incursion into Venezuela last night to destroy narco-terrorist infrastructure and take the illegitimate dictator Nicolas Maduro into custody. You can read more details about all that on my political Substack here and here. Where energy is concerned, … Read more
Summary Trump says US successfully hit Venezuela, took away Maduro Most direct US. action in region since 1989 Panama invasion Explosions rock capital Caracas and other locations Maduro government defiant, accuses US of oil grab Venezuelan leader may face drug trial in U.S. (Reuters) – The U.S. attacked Venezuela and deposed its long-serving autocratic President Nicolas Maduro on … Read more
The U.S. in 2025 became the first country to export more than 100 million metric tons (mmt) of liquefied natural gas in a single year, powered by the startup of production from new plants, preliminary data from LSEG showed.The world’s largest LNG exporter sold 111 mmt of the fuel, almost 20 mmt more than … Read more
Summary Ukraine has increased attacks on Russian refineries Yemen crisis deepens Saudi-UAE rift Brent and WTI posted annual losses of nearly 20% (Reuters) – Oil prices settled lower on Friday on the first trading day of 2026 after registering their biggest annual loss since 2020, as investors weighed oversupply concerns against geopolitical risks, including the … Read more
(Reuters) – Denmark’s Orsted said on Friday it was challenging the U.S. government’s suspension of the lease for its Revolution Wind joint venture and would seek a court injunction against the decision to halt its $5 billion offshore wind project. The Trump administration suspended leases on December 22 for five large offshore wind projects that are under … Read more
HOUSTON, Jan. 02, 2026 (GLOBE NEWSWIRE) — Occidental (NYSE: OXY) announced today it has completed the sale of its chemical business, OxyChem, to Berkshire Hathaway (NYSE: BRK.A, BRK.B) for $9.7 billion in cash, subject to customary purchase price adjustments. “This transaction accelerates our strategy to strengthen Occidental’s balance sheet and focus on our deep and diverse … Read more
Transaction strengthens balance sheet and liquidity with $344.5 million of cash proceeds before customary closing adjustments (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR, “the Company”), an energy technology company, announced Friday the final closing of its previously announced joint venture with a subsidiary of Cactus, Inc., in which Baker Hughes has contributed its surface pressure control … Read more
By Ron Bousso (Reuters) – Energy markets enter 2026 in a downbeat mood as geopolitical uncertainty clouds the outlook and increasing signs of swelling oil and gas supplies threaten to sink prices. This past year was a wild one for the oil and gas industry, punctuated by the 12-day Israel-Iran war in June, U.S. President Donald … Read more
** Canadian oil producers set to end 2025 on a positive note, with integrated operations, strong refining margins and stable cash flows from long-life reserves cushioning the impact of falling crude prices** Brent crude futures down over 17% YTD, their steepest annual drop since 2020 and third straight yearly decline ** As of last … Read more
Summary Sanctions mark latest action in Trump’s pressure campaign US targets four companies it says operated in Venezuela’s oil sector Sanctions also target four vessels (Reuters) – The United States on Wednesday imposed sanctions on four companies it said were operating in Venezuela’s oil sector as well as associated oil tankers, as President Donald Trump’s … Read more
U.S. oil production hit a record high in October, according to the Energy Information Administration on Wednesday. Output rose by 31,000 barrels per day to 13.87 million bpd. Oil output in New Mexico, the second-largest oil-producing state, rose 31,000 bpd to hit a record 2.38 million bpd, while output from the federal offshore gulf region … Read more
Venezuela’s President Nicolas Maduro has extended an olive branch to U.S. President Donald Trump, proposing serious talks on combating drug trafficking and offering U.S. companies ready access to Venezuelan oil. Maduro said Venezuela was a “brother country” to the United States and a friendly government. He noted that when he and Trump last spoke in … Read more
U.S. natural gas futures dropped more than 5% on Wednesday, pressured by warmer forecasts next week and a federal report indicating a smaller-than-expected gas withdrawal, yet record gas flows to LNG export facilities in 2025 kept the market on track for its second straight yearly gain. Front-month gas futures for February delivery on the New … Read more
(Reuters) – U.S. crude stocks fell while gasoline and distillate inventories rose last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 1.9 million barrels to 422.9 million barrels in the week ended December 26, the EIA said, compared with analysts’ expectations in a Reuters poll for a 867,000-barrel draw.29dk2902l Crude stocks … Read more
Summary Brent set to post longest annual losing streak to date UAE withdraws forces from Yemen in conflict with Saudi Arabia Oversupply offsets geopolitical risks, sanctions on producing countries US crude inventories fall, distillate and gasoline stocks rise Oil prices down near 20% on the year (Reuters) – Oil prices fell on Wednesday and recorded … Read more
U.S. energy firms this week added oil and gas rigs for a second week in a row, energy services firm Baker Hughes said on Tuesday. The oil and gas rig count, an early indicator of future output, rose by one to 546 in the week to December 30, its highest since December 12. Baker Hughes … Read more
Takeaways by Bloomberg AI Global exports of liquefied natural gas in 2025 likely saw the biggest jump in three years, as new supply came online in North America. The US is poised to cement its role as a major exporter, becoming the first ever to ship out more than 100 million tons of LNG this … Read more
At least two oil tankers have made their way to Venezuela in recent days and others are navigating towards the country, a sign of state-run PDVSA’s effort to expand floating storage and keep selling crude even as a U.S. blockade has reduced exports to a minimum. U.S. President Donald Trump this month announced a blockade … Read more
Commodities were pelted in 2025 by the whirlwind of tariffs and policies imposed by U.S. President Donald Trump, and while the storm may recede in 2026, the ripples will last some time. Trump’s efforts to remake global trade and his shifting geopolitical moves have boosted volatility in commodity markets, with prices being driven by daily … Read more
Takeaways by Bloomberg AI At least two vessels chartered by Chevron Corp. have successfully unloaded cargoes at US ports after picking up oil from Venezuela. Chevron has finished discharging a cargo from the vessel Searuby and is unloading ship Canopus Voyager, with another three Chevron ships sailing toward the US. The global energy market is … Read more
Venezuela started shutting wells in a region that holds the world’s largest deposits of oil in the face of a blockade by the Trump administration meant to financially squeeze the nation. Petroleos de Venezuela SA began shuttering wells in the Orinoco Belt on Dec. 28 as the state-run refiner ran out of storage space and … Read more
Summary European Union has agreed to phase out Russian fossil fuel imports Decline in imports follows closure of Ukrainian route TurkStream is the only remaining route (Reuters) – Russia’s pipeline gas exports to Europe sank by 44% in 2025 to their lowest since the mid-1970s, following the closure of the Ukrainian route and as the … Read more
With EV incentives no longer available, hybrid vehicle sales are gaining speed Takeaways by Bloomberg AI Hybrid vehicles are in high demand, with nearly one in six new cars predicted to be a hybrid next year, according to CarGurus Inc. The EV market is slowing in the US, with sales expected to plunge 30% in the … Read more
(Reuters) – Oil prices were little changed on Tuesday as investors took stock of dented hopes of a Russia-Ukraine peace deal and rising geopolitical tensions in the Middle East around Yemen. Brent crude futures for February delivery , which expire on Tuesday, were up 32 cents, or 0.52%, at $62.26 a barrel as of 1206 … Read more
HOUSTON, Dec. 29, 2025 (GLOBE NEWSWIRE) — Amplify Energy Corp. (NYSE: AMPY) (“Amplify,” the “Company,” “us,” or “our”) announced today that it closed the previously announced transaction to sell its interests in Oklahoma for a contract price of $92.5 million, subject to customary post-closing adjustments. With proceeds from its East Texas and Oklahoma divestitures, the … Read more
Frontera Energy’s Colombian unit has signed a prepayment and commercial agreement worth up to $120 million with a unit of U.S. oil major Chevron to supply crude oil over two years, the Canadian oil producer said on Monday. Under the deal, Frontera will receive an initial $80 million advance and supply a portion of its crude output … Read more
The Kremlin said on Sunday that Russian President Vladimir Putin and U.S. President Donald Trump do not support a European-Ukrainian push for a temporary ceasefire ahead of a settlement, and that Moscow thinks Kyiv needs to make a decision on Donbas. Kremlin foreign policy aide Yuri Ushakov said that a call between Putin and Trump … Read more
U.S. liquefied natural gas company Freeport LNG said all three trains at its LNG export plant in Texas experienced a trip due to an interruption of feed gas to the facility, according to a regulatory filing on Wednesday. “The plant operators managed the cooldown and restarts of train 1, train 2, and train 3 as … Read more
PG&E restores power to 11,000 San Francisco customers after equipment failure (Reuters) – PG&E Corp. crews have restored power to about 11,000 San Francisco customers affected by an outage caused by overhead equipment failure, the company said on Monday. The outage, which began on Sunday at 7:45 p.m. PST (1145 GMT) in San Francisco’s Richmond neighbourhood, had … Read more
By Yogi Schulz Information technology continues to develop rapidly, changing what’s possible. 2025 was no exception. Here are my Top 10 developments. Undoubtedly, there are multiple opportunities to apply these technologies more widely across your energy industry organization. 1. AI dominated every conversation In 2025, AI concepts, experimentation with generative AI, and speculation about future … Read more
The White House has ordered U.S. military forces to focus almost exclusively on enforcing the “quarantine” of Venezuelan oil for at least the next two months, a U.S. official told Reuters on Wednesday. “While military options still exist the focus is to first use economic pressure by enforcing sanctions to reach the outcome the … Read more
Summary Ukraine peace talks and Middle East tensions in focus US crude inventories expected to fall Distillate and gasoline stocks expected to rise Dec 29 (Reuters) – Oil prices rose by more than $1 on Monday as investors weighed talks between the U.S. and Ukrainian presidents on a possible deal to end the war in … Read more
Energy markets enter 2026 in a downbeat mood as geopolitical uncertainty clouds the outlook and increasing signs of swelling oil and gas supplies threaten to sink prices.This past year was a wild one for the oil and gas industry, punctuated by the 12-day Israel-Iran war in June, U.S. President Donald Trump’s trade wars, the intensified … Read more
By Allison Schrager Allison Schrager is a Bloomberg Opinion columnist covering economics. A senior fellow at the Manhattan Institute, she is author of “An Economist Walks Into a Brothel: And Other Unexpected Places to Understand Risk.” Takeaways by Bloomberg AI Consumers will have more money due to tax refunds and potential $2,000 checks to households. Businesses will … Read more
SHOWCASE Your Company With EnergyNow Feature Banner Ad Marketing (subject to banner availability) This is an excellent option for companies who either don’t have a lot of content to publish but want a lot of “brand” and service/product exposure or for companies that want that consistent “brand” exposure even if they have a lot … Read more
Summary Oil heading for largest annual decline since 2020 Global crude supply glut looms over investors Russia-Ukraine peace proposals in focus HOUSTON, Dec 26 (Reuters) – Oil prices settled more than 2% lower on Friday as investors weighed a looming global supply glut, while also keeping an eye on a potential Ukraine peace deal ahead … Read more
Repurposing military reactors for such civilian use, however, is unchartered territory Bloomberg News A Texas power developer is proposing to repurpose nuclear reactors from Navy warships to power the United States grid as the Trump administration pushes to secure massive amounts of energy for the artificial intelligence boom. HGP Intelligent Energy LLC filed an application to the Energy Department to redirect two … Read more
By Gavin Maguire LITTLETON, Colorado, Dec 23 (Reuters) – Like any industry, wind energy has had its good and bad years. But 2025 may be one of the worst: a toxic stew of major policy reversals, corporate upheaval and sub‑par generation in key markets. U.S. President Donald Trump’s policy U-turn on renewable energy likely ranks … Read more
By Lara Williams Lara Williams is a Bloomberg Opinion columnist covering climate change. Takeaways by Bloomberg AI The Paris Agreement aims to limit climate change to “well below 2C above pre-industrial levels” and pursue efforts to keep the increase close to 1.5C, but carbon emissions continue to grow. Many experts believe the 1.5C temperature target is … Read more
Summary Oil heading for largest annual decline since 2020 US targets Islamic State militants in Nigeria, no direct impact on oil infrastructure Venezuelan oil under US economic pressure (Reuters) – Oil prices were stable on Friday as investors weighed potential supply risks from developing geopolitical tensions in a thinly attended post-Christmas session, after the U.S. … 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 Tuesday. The oil and gas rig count, an early indicator of future output, rose by three to 545 in the week to December … Read more
A drone view shows rotor blades and other parts for the ongoing construction of the Revolution Wind offshore wind turbine farm, staged on the State Pier in New London, Connecticut, U.S., September 23, 2025. REUTERS/Brian Snyder/File Photo WASHINGTON, Dec 24 (Reuters) – Four Democratic governors wrote to U.S. Interior Secretary Doug Burgum on Wednesday to … Read more
By Robert Harvey CPC Blend exports drop to 1.14 million bpd from initially planned 1.7 million bpd Kazakhstan may have to curb output, given lack of alternative export routes, analyst says Global oil majors hold stakes in Kazakh oil industry MOSCOW/LONDON, Dec 24 (Reuters) – Kazakhstan’s exports of its flagship CPC Blend of oil will … Read more
Dec 24 (Reuters) – Northern Indiana Public Service Company on Wednesday said it has received a federal order requiring the continued operation of R.M. Schahfer generating station beyond its planned December 31, 2025, retirement date. The order directs the Indiana-based plant to remain open for 90 days from the date of the order, the firm … Read more
Clyde Russell LAUNCESTON, Australia, Dec 23 (Reuters) – Conventional wisdom in the crude oil market is that producers such as OPEC+ largely determine the price by altering output levels to achieve a desired outcome. That shibboleth was challenged in 2025 by China, which used its status as the world’s biggest oil importer to provide an effective price floor … Read more
Malaysian state-owned energy firm Petroliam Nasional said on Wednesday it would supply Chinese offshore oil and gas company CNOOC with 1 million metric tons per annum of liquefied natural gas (LNG). The agreement between Petronas LNG and CNOOC Gas and Power Singapore Trading & Marketing builds upon existing cooperation between the two companies, Petronas said in a … Read more
BP is nearing a sale of a majority stake in its Castrol lubricants unit to investment firm Stonepeak in a deal that values the entire division at $10 billion, including debt, the Wall Street Journal reported on Tuesday. As part of the deal, BP is set to receive roughly $6 billion in proceeds from the … Read more
Reuters) – Oil tanker loadings slowed on Monday in Venezuela, with most vessels carrying oil shipments only between local ports, sources and ship tracking data showed, following U.S. actions targeting two more ships and as Venezuelan state oil company PDVSA struggles to recover from a cyberattack. U.S. authorities said the U.S. Coast Guard this month … Read more
Summary Brent, WTI gain about 6% since last week’s lows Oil set for biggest annual decline since 2020 US economy grew faster than expected in the third quarter Weekly US crude, fuel stocks rose last week – API (Reuters) – Oil prices rose slightly for a sixth day on Wednesday, supported by robust U.S. economic … Read more
(Reuters) – The United States told the United Nations on Tuesday it will impose and enforce sanctions “to the maximum extent” to deprive Venezuelan President Nicolas Maduro of resources as Russia warned other Latin American countries could be next. U.S. President Donald Trump’s administration has for months waged a campaign of deadly strikes against suspected … Read more
Suspension affects Orsted, Avangrid, Dominion Energy, Equinor projects Pentagon raises concerns over radar interference from turbine blades, towers Trump campaigned for White House on promise to end offshore wind industry (Reuters) – The Trump administration suspended leases on Monday for five large offshore wind projects that are under construction off the U.S. East Coast over … Read more
(Reuters) – Venezuela’s state-run oil company PDVSA has started filling up tankers with crude and fuel oil it has in storage as inventories mount amid moves by the U.S. to seize Venezuela-linked ships, according to company documents and shipping data. The U.S. Coast Guard this month intercepted the Skipper and Centuries tankers in the Caribbean … Read more
* AI data center electricity demand revives peaker power plants * Peakers emit more pollution when they run than typical power plants * The power plants are often located in low-income, minority communities By Laila Kearney In Chicago’s working-class Pilsen neighborhood, a 60s-era oil-fired power plant rises up from an industrial lot behind Dvorak Park, … Read more
PALM BEACH, Florida, Dec 22 (Reuters) – U.S. President Donald Trump said on Monday the United States would maybe keep and maybe sell the oil it had seized off the coast of Venezuela in recent weeks, adding the United States would also keep the seized ships. “Maybe we will sell it, maybe we will keep … Read more
By Patricia Garip and Jennifer A Dlouhy The Bella 1 tanker in March. Photographer: Hakon Rimmereid/MarineTraffic The US is still in pursuit of a third oil tanker near Venezuela, according to a US official, as President Donald Trump intensifies an oil blockade on Nicolás Maduro’s government. The Bella 1 tanker, a Panamanian-flagged vessel sanctioned by … Read more
Summary U.S. might keep or sell seized Venezuelan oil, says President Trump Barclays expects oil surplus to shrink next year if Venezuelan exports fall (Reuters) – Oil prices were little changed on Tuesday as potential sales of Venezuelan crude seized by the United States were countered by heightened supply disruption fears after Ukrainian attacks on … Read more
Dec 22 (Reuters) – Alphabet (GOOGL.O) said on Monday it would buy clean energy developer Intersect for $4.75 billion in cash, plus assumed debt, as tech giants spend billions to expand the computing and power capacity necessary for developing artificial intelligence. Big Tech has ramped up investments in energy firms as U.S. power grids struggle … Read more
By Dorothy Neufeld | Graphics/Design Joyce Ma Key Takeaways Oil, coal, and natural gas were the leading sources of global energy demand in 2024. While coal demand is set to drop the most by 2050, solar and wind demand is forecast to surge. Fossil fuels powered 80% of global energy demand in 2024, with this … Read more
China’s foreign ministry on Monday said the United States’ seizure of another country’s ships was a serious violation of international law, after the U.S. intercepted a China-bound oil tanker off the Venezuelan coast. Venezuela has the right to develop relations with other countries, China’s foreign ministry spokesperson Lin Jian said at a daily press briefing, … Read more
Australia will make exporters of liquefied natural gas from the country’s east coast keep up to a quarter of their output for domestic use from 2027, under a scheme unveiled on Monday to curb price spikes and help fill a long-forecast supply gap. The centre-left government of Prime Minister Anthony Albanese said it would work … Read more
Summary Deal includes $2.7 billion cash, $500 million in shares Deal may boost Harbour’s output to 500 kboepd by decade’s end Harbour expects acquisition to enhance free cash flow from 2027 Dec 22 (Reuters) – Britain’s North Sea-focused Harbour Energy said on Monday it would buy deepwater oil and gas exploration and production company LLOG … Read more
HOUSTON, Dec 19 (Reuters) – The number of active rigs and hydraulic fracturing crews has fallen in North Dakota, according to the state’s Department of Mineral Resources on Friday. North Dakota currently has 27 active rigs, down from 28 in November, while seven hydraulic fracturing crews are operating in the state, down from 10 last … Read more
Summary US intercepts Venezuelan oil tanker, raising supply disruption fears Trump administration’s hardline approach sparked rebound in crude prices Crude benchmarks up about 1.8% LONDON, Dec 22 (Reuters) – Oil prices rose on Monday after the U.S. intercepted an oil tanker in international waters off the coast of Venezuela and tensions in Russia’s war against … Read more
Ron Bouss (Reuters) – Global oil markets faced multiple black swan events in 2025 – including the Israel-Iran war and Ukrainian strikes on Russian refiners – yet they were barely fazed. This calm may be the new normal in an era of energy abundance, even as the world becomes a more dangerous place. By any measure, 2025 was … Read more
The United States is interdicting and seizing a vessel off the coast of Venezuela in international waters, three U.S. officials told Reuters on Saturday, a move that comes just days after U.S. President Donald Trump announced a “blockade” of all sanctioned oil tankers entering and leaving Venezuela. This would mark the second time in recent … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row for the first time since August, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, … Read more
By Keira Wright, Ruth Liao, and Stephen Stapczynski Meg O’Neill | Photographer: Nicky Loh/Bloomberg The surprise exit of Woodside Energy Group Ltd. Chief Executive Officer Meg O’Neill leaves her successor with a dilemma: should the Australian company continue down the path she set of promoting massive liquefied natural gas projects when forecasts point to a … Read more
By Lucia Kassai The tanker Hyperion, sanctioned by the US for having shipped Russian oil, will likely be the first ship to test President Donald Trump’s naval blockade of Venezuela. The vessel recently arrived in Amuay, home to Venezuela’s largest refining complex, according to vessel movements tracked by Bloomberg. It loaded supplies in Murmansk, Russia, … Read more
(Reuters) – The U.S. Department of Energy said on Thursday it has signed agreements with 24 organizations, including tech giants such as Microsoft, Google and Nvidia, to advance the Genesis Mission. The mission is a national program aimed at using artificial intelligence to accelerate scientific research and strengthen U.S. energy and security capabilities. The department said … Read more
(Reuters) – The U.S. Army Corps of Engineers on Friday released a long-anticipated Environmental Impact Statement for the Dakota Access Pipeline (DAPL), recommending that operations of the oil pipeline continue with some conditions. The EIS, a document required by U.S. law to evaluate the environmental effects of major federal actions, is a win for DAPL … Read more
By Ron Bousso LONDON, Dec 19 (Reuters) – Oil prices slumped below $60 a barrel this week as investors try to make sense of U.S. President Donald Trump’s push to end the war in Ukraine and force out Venezuelan President Nicolas Maduro. Yet the real driver of prices in the months ahead is likely to … Read more
By Scott Disavino Summary Brent and WTI prices rise amid Venezuelan tanker blockade Russia-Ukraine peace talks impact oil market sentiment U.S. sanctions increase pressure on Venezuela’s oil exports (Reuters) – Oil prices edged up on possible disruptions from a U.S. blockade of Venezuelan tankers as the market waits for news about a possible Russia-Ukraine peace … Read more
U.S. President Donald Trump said he was leaving the possibility of war with Venezuela on the table, according to an interview with NBC News published on Friday. “I don’t rule it out, no,” he told NBC News in a phone interview. Trump also said there would be additional seizures of oil tankers near Venezuelan waters, … Read more
(Reuters) – U.S. Senator Ron Wyden has contacted seven maritime shipping companies as part of an inquiry into cartel-linked fuel smuggling between the United States and Mexico, asking the firms to explain their vetting procedures for ensuring their tankers aren’t used to transport illicit hydrocarbons, according to copies of the letters seen by Reuters. The … Read more
By Laila Kearney Capacity prices in PJM hit fresh record high PJM’s supply shortfall affects 13-state region, raising power bills Governors push for extended price limits Dec 17 (Reuters) – Power bills for about a fifth of Americans are expected to continue to rise after the largest U.S. grid operator, PJM Interconnection, reported fresh record-high … Read more
By Keira Wright and Ruth Liao Meg O’Neill’s rapid rise to the top of one of the world’s biggest fossil-fuel companies has been unencumbered by doubt. At a moment when oil executives are still being pressed to move away from hydrocarbons, she has a different argument: that the world is nowhere near done with them. … Read more
Energy Transfer Cites Focus on Capital Allocation Discipline DALLAS–(BUSINESS WIRE)–Energy Transfer LP (NYSE:ET) announced today that it is suspending development of the Lake Charles LNG project in order to focus on allocating capital to its significant backlog of natural gas pipeline infrastructure projects that Energy Transfer believes provides superior risk/return profiles. Energy Transfer management has determined … Read more
Summary Potential supply glut from OPEC+ and US weighs on prices Venezuela oil export operations continue despite US sanctions Analysts predict lower prices could curb supply, preventing price freefall (Reuters) – Oil prices were little changed on Friday and poised for a second straight weekly decline as a potential supply glut and prospects of a … Read more
By Emily Forgash and Mark Chediak US President Donald Trump hates wind power. His administration has made a concerted effort to thwart the industry. Trump issued a directive within hours of his return to the White House in January that froze new permitting for wind energy and ordered officials to consider terminating existing leases. But … Read more
By Yousef Saba Lukoil exits Ghasha project, hands ADNOC 10% stake Heavy demand from Asian lenders, including Chinese banks First gas production expected before decade’s end DUBAI, Dec 18 – Abu Dhabi National Oil Company has secured $11 billion in structured financing to monetise future gas production from its Hail and Ghasha development, the state … Read more
(Reuters) – Saudi Arabia’s crude oil exports hit their highest level in two and a half years in October, data from the Joint Organizations Data Initiative (JODI) showed on Thursday. Crude exports from the world’s largest oil exporter increased to 7.100 million barrels per day (bpd), higher than September’s 6.460 million bpd, and their highest … Read more
Japan Petroleum Exploration said on Thursday it will acquire Verdad Resources Intermediate Holdings LLC (VRIH), which owns tight oil and gas assets in the U.S. for $1.3 billion in its largest-ever deal. JAPEX will buy VRIH, which holds assets in Colorado and Wyoming, from Verdad Resources Feeder LLC using a mix of its own funds … Read more
Asia’s imports of U.S. crude oil, coal and liquefied natural gas are on track to decline this year despite President Donald Trump’s efforts to boost shipments as part of his trade and tariff policies. The decline in imports from the United States is largely driven by China, the world’s biggest buyer of commodities, which pulled … Read more
The surprise appointment of Meg O’Neill as BP’s first outsider CEO offers the bruised $90 billion British oil company three clear strategic choices for moving forward: build, buy or be bought. BP announced on Wednesday that CEO Murray Auchincloss would step down the following day and that O’Neill, current CEO of Australian-listed Woodside Energy, would … Read more
Oil and gas major BP has appointed Meg O’Neill, the head of Australia’s Woodside Energy, as its next CEO to lead its effort to boost profits and refocus on oil and gas after a detour into renewables. O’Neill, who will take over in April following the abrupt departure of Murray Auchincloss, will become BP’s first … Read more
By Bruno Venditti | Graphics/Design: Sam Parker Key Takeaways New Mexico doubled oil production from 2019 to 2024, reaching over 2M barrels/day. Texas remains the top oil-producing state with 5.7M barrels/day, leading the Permian Basin output. The U.S. is in the midst of a historic oil boom. For the past two years, the country has … Read more
By Ari Natter Oil production hit another record this year, climbing above 13.8 million barrels a day in September. Photographer: Robyn Beck/AFP/Getty Images The US is on pace to pump more oil this year than any other nation in history as President Donald Trump puts the federal government’s full weight behind his sweeping agenda to … Read more
The United States is preparing a further round of sanctions on Russia’s energy sector to increase the pressure on Moscow should President Vladimir Putin reject a peace deal with Ukraine, Bloomberg News reported on Wednesday, citing people familiar with the matter. The U.S. is considering options such as targeting vessels in Russia’s so-called shadow fleet … Read more
(Reuters) – U.S. crude stocks fell while gasoline and distillate inventories rose last week as refining activity climbed, the Energy Information Administration said on Wednesday. Crude inventories dropped by 1.3 million barrels to 424.4 million barrels in the week ended December 12, the EIA said, compared with analysts’ expectations in a Reuters poll for a … Read more
Summary US firms eye Canada’s Montney due to depleted US shale prospects Montney offers room to grow with comparatively untapped geology Rising interest in Canada’s oilpatch comes after a decade of reduced foreign investment (Reuters) – U.S. oil and gas producers in search of fresh drilling territory are looking to expand in Western Canada’s Montney … Read more
Summary US prepares more Russian energy sanctions if Moscow rejects peace deal, Bloomberg reports Venezuela’s PDVSA resumes loading after cyberattack, most exports on hold Trump announced blockade of tankers under sanctions on Tuesday, enforcement unclear EU targets 41 additional vessels in Russia’s shadow fleet (Reuters) – Oil prices steadied on Thursday as investors assessed the … Read more
(Reuters) – A U.S. judge on Wednesday blocked Michigan from enforcing a 2020 order to shut down Enbridge’s Line 5 oil pipeline running beneath a channel linking two of the Great Lakes, ruling that pipeline safety is a federal responsibility. The decision comes five years after Michigan Governor Gretchen Whitmer revoked an easement allowing Canadian … Read more
US forces intercept and seize a sanctioned oil tanker off the coast of Venezuela, in a video released by the US Department of Justice on Dec. 10.Source: US Department of Justice The US has ratcheted up pressure on the government of Venezuela with a series of measures designed to stifle the country’s vital oil exports. … Read more
(Reuters) – Venezuela may soon have to start closing some oil wells as it runs low on storage capacity following last week’s tanker seizure and U.S. plans to block other sanctioned vessels, Bloomberg News reported on Wednesday, citing people familiar with the situation The country’s main oil storage and tankers sitting at its terminals are … Read more
By Francois de Beaupuy, Nayla Razzouk, and Francine Lacqua TotalEnergies SE Chief Executive Officer Patrick Pouyanne said rising demand for oil will help to underpin prices, despite their recent slump on growing concerns about a global surplus. Oil is on track for a yearly loss, with supply set to exceed demand both this year and … Read more
(Reuters) – U.S. private equity giant Carlyle has hired Goldman Sachs to work on its bid for Lukoil assets, two sources familiar with the matter told Reuters on Wednesday, as the race for the sanctioned Russian oil firm’s overseas portfolio heats up. At least a dozen potential suitors have expressed interest in buying Lukoil assets, … Read more
LONDON–(BUSINESS WIRE)–MidOcean Energy (“MidOcean”), a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced the completion of its acquisition of a 20% interest in PETRONAS’ key entities in Canada. The transaction includes a 20% interest in the North Montney Upstream Joint Venture … Read more
(Reuters) – Mexican President Claudia Sheinbaum on Wednesday asked the United Nations to act in order to avoid bloodshed in Venezuela, as tensions escalate between the South American country and the United States. Sheinbaum said during her morning press conference that Mexico is against intervention and against foreign interference in Venezuela. “I call on the … Read more
Calgary, Alberta–(Newsfile Corp. – December 17, 2025) – Greenfire Resources Ltd. (NYSE: GFR) (TSX: GFR) (“Greenfire” or the “Company“) today announced preliminary results of its C$300 million rights offering, which expired at 4:00 p.m. (Calgary time) on December 16, 2025 (the “expiration date“). Upon closing of the rights offering, the Company expects to issue 55,147,058 common shares, … Read more
Summary Renewables, nuclear, and natural gas to reduce coal’s dominance by 2030 India’s coal use declined due to intense monsoons boosting hydro power US coal consumption rose with higher gas prices and policy support China consumes 30% more coal than the rest of the world combined (Reuters) – Global coal demand reached a record high … Read more
Oil sands could maintain current production rates for more than 140 years By Will Gibson Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Pipelines at a thermal in situ oil sands facility. Photo courtesy Alberta Energy Regulator Investor interest in Canadian oil producers, primarily in the Alberta oil sands, … Read more
Activist investment firm Kimmeridge Energy Management has submitted a $6 billion offer to buy Ascent Resources, the Financial Times reported on Tuesday. The bid is the latest challenge to Ascent’s private equity backer Energy & Minerals Group’s (EMG) efforts to sell a more than 30% stake in the company from one of its funds to … Read more
Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth will hold closed, classified briefings for all U.S. senators and representatives on Tuesday about the Trump administration’s strategy toward Venezuela. President Donald Trump’s objectives remain unclear to many lawmakers, even after 3-1/2 months, more than 20 deadly U.S. strikes on boats off the South … Read more
Summary Trump blockade on sanctioned tankers entering and leaving Venezuela Uncertainty around implementation of Trump’s blockade US crude stocks fell 9.3 million bbls last week: API (Reuters) – Oil prices rallied more than 2% on Wednesday after U.S. President Donald Trump ordered a complete blockade of all sanctioned oil tankers entering and leaving Venezuela, raising geopolitical tensions … Read more
LONDON, Dec 16 (Reuters) – Oil major Shell (SHEL.L) has taken a final investment decision on a waterflood project at its Kaikias field in the U.S. Gulf of Mexico, aiming to boost oil recovery and extend the life of its Ursa platform. The project is expected to add 60 million barrels of oil equivalent to … Read more
(Reuters) – Venezuela’s state-run company PDVSA is dealing with stuck oil cargoes, rising price discounts and demands from customers to change terms of spot contracts following the U.S. seizure of a ship carrying the OPEC country’s crude, traders and sources said. As Washington’s pressure on President Nicolas Maduro grows, the U.S. Coast Guard last week … Read more
Automaker is cancelling a planned electric F-Series truck and shifting production toward gas and hybrid vehicles By Keith Naughton and Gabrielle Coppola Ford Motor Co. will take $19.5 billion in charges tied to a sweeping overhaul of its electric vehicle business after struggling for years to make it profitable. The majority of the charges will … Read more
By Gavin Maguire LITTLETON, Colorado, Dec 16 (Reuters) – Global shipments of thermal coal – burned in power stations – have posted their first annual decline since 2020 on the back of lower coal-fired power generation in key Asian markets. Total seaborne exports of so-called steam coal are set to come in at about 945 … Read more
By Clyde Russell LAUNCESTON, Australia, Dec 16 (Reuters) – China’s flows of crude oil into storage probably jumped in November to the highest in six months, as a surge in imports overwhelmed steady refinery processing rates. China’s surplus of crude was about 1.88 million barrels per day (bpd) in November, almost three times the 690,000 … Read more
Dec 16 (Reuters) – France’s TotalEnergies (TTEF.PA) said on Tuesday it had signed a 21-year power supply deal with Alphabet’s Google (GOOGL.O), pledging to supply 1 terawatt hour of renewable energy to support its data centres in Malaysia. The French energy major said the power would be generated by the new Citra Energies solar plant … Read more
DENVER, Dec. 15, 2025 /PRNewswire/ – Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (“Ovintiv” or the “Company”) and a subsidiary of Pembina Pipeline Corporation (“Pembina”) (TSX: PPL; NYSE: PBA) today announced the signing of a 12-year agreement (the “Agreement”) for 0.5 million tonnes per annum (“mtpa”) of Pembina’s liquefaction capacity at the Cedar LNG facility (“Cedar LNG”). The Agreement enables … Read more
Oil and natural gas producer Ovintiv Inc on Monday announced a deal with Pembina Pipeline’s subsidiary for liquefaction capacity at the planned Cedar LNG facility. The agreement gives Ovintiv 0.5 mtpa of liquefaction and transportation capacity at Cedar LNG for 12 years. The U.S. LNG sector is witnessing a resurgence in commercial activity, driven by expectations of … Read more
The cost of shipping oil is likely to remain high in the first half of 2026 as the global fleet ages and a rising number of vessels are hit with Western sanctions, shipping sources say, though rates could be capped in the second half. In recent weeks, the cost of shipping oil has risen to … Read more
(Reuters) – A tanker carrying Russian naphtha for Venezuelan state oil company PDVSA and at least four supertankers due to pick up crude cargoes in Venezuela have made u-turns after the U.S. seized a vessel carrying Venezuelan crude, ship monitoring data showed on Monday. The U.S. Coast Guard last week intercepted and seized a very … Read more
Summary Russia-Ukraine peace talks raise hopes for easing sanctions Surge in Chinese buying from Venezuela, glut in floating storage limit market impact of US tanker seizure (Reuters) – Oil prices fell on Tuesday to below $60 a barrel – the lowest since May this year – as prospects for a Russia-Ukraine peace deal appeared to … Read more
Trump’s desire for US energy dominance could mean higher prices at home. By Naureen S Malik and Ruth Liao Can the Trump administration’s twin policy priorities of US “energy dominance” and affordability really coexist? We may be about to find out. Unleashing oil and gas production has been a key theme for President Donald Trump. … Read more
By Nathan Risser and Christopher Charleston A woman stands in a street as the snow falls in the Manhattan borough of New York on Dec. 14. Photographer: Charly Triballeau/AFP/Getty Images Four northeastern US states are under emergency transport orders after an outage at one of the largest underground heating fuel storage facilities in the region … Read more
(Reuters) – The volume of Venezuelan oil already headed to China before the U.S. seized a Venezuelan tanker last week, plus a glut of crude in storage and weak demand, will limit the near-term impact of the move in the Chinese market, traders and analysts said. Exports from the South American producer have fallen sharply … Read more
Tokyo Gas, Japan’s top city gas provider, plans to direct more than half of the 350 billion yen ($2.3 billion) it has earmarked for overseas investments over the next three years to the U.S. to drive growth, CEO Shinichi Sasayama said. In October, Tokyo Gas unveiled a plan to invest up to 1.3 trillion yen … Read more
The U.S. has demanded that the European Union exempt its oil and gas from obligations under the bloc’s methane emissions law on fuel imports until 2035, a U.S. government document seen by Reuters showed. Starting this year, the EU requires importers of oil and gas to Europe to monitor and report methane emissions associated with … Read more
By Jarrett Renshaw EPA still reviewing comments; no end-of-year decision expected Delay folds quotas into broader oil-agriculture policy talks Uncertainty complicates contracts, hedging, and investment decisions Dec 12 (Reuters) – The Trump administration is not expected to finalize 2026 biofuel-blending quotas before the end of this year, according to three sources familiar with the situation, … Read more
Summary Brent, WTI steady after 4% losses last week Venezuelan oil exports down sharply since US seizure of a tanker Surplus outlook and potential Ukraine peace deal weigh (Reuters) – Oil prices held steady on Monday as investors balanced supply disruptions linked to escalating U.S.-Venezuelan tensions with oversupply concerns and the impact of a potential … Read more
The United States’ tightening grip on Venezuela’s oil exports could strangle the country’s crude output and cut off President Nicolas Maduro’s main economic lifeline, but it will have limited impact on the global market. The U.S. Coast Guard last week seized in mid-ocean a supertanker carrying Venezuelan crude to Cuba, marking a step-up in Washington’s … Read more
WASHINGTON, Dec 12 (Reuters) – The U.S. House of Representatives on Friday voted 213-184 to pass a bill that aims to speed up federal permitting of interstate natural gas pipelines by designating the Federal Energy Regulatory Commission as the lead agency in the process. The Improving Interagency Coordination for Pipeline Reviews Act gives the agency … Read more
Summary Brent and WTI down more than 4% this week Supply glut remains main market focus US plans to seize more tankers off Venezuela, sources say (Reuters) – Oil prices closed lower on Friday, marking a 4% weekly decline as a supply glut and a potential Russia-Ukraine peace deal outweighed worries about any impact from … Read more
By Marianna Parraga Only Chevron-chartered tankers sailing into international waters About 11 million barrels stuck in vessels in Venezuela Some cargoes are onboard Washington-sanctioned ships HOUSTON, Dec 12 (Reuters) – Venezuela’s oil exports have fallen sharply since the United States seized a tanker earlier this week and imposed fresh sanctions on shipping companies and vessels … Read more
US forces intercept and seize a sanctioned oil tanker off the coast of Venezuela, in a video released by the US Department of Justice on Dec. 10. Source: US Department of Justice On Dec. 10, US forces intercepted and seized an oil tanker off the coast of Venezuela that Attorney General Pam Bondi said is … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second 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 548 in … Read more
KYIV, Dec 12 (Reuters) – Ukrainian drones struck two Russian oil rigs in the Caspian Sea, an official in the Security Service of Ukraine (SBU) said on Friday. The source said SBU drones hit the Filanovsky and Korchagin oil rigs, which both belong to Russia’s Lukoil (LKOH.MM). The Filanovsky rig – part of Russia’s largest … Read more
Hauling petroleum around the world in ships is no longer a humdrum business. By Julian Lee The cold war on sanctioned oil is heating up. Drone strikes and boarding parties have raised the risk of shipping blacklisted barrels. On Wednesday, the US seized a tanker hauling as much as a two million barrels of Venezuelan … Read more
New Fortress Energy went all in on a concept it called Fast LNG. Slowly that commitment has become the company’s undoing. By Ruth Liao, Liam Vaughan, and Jim Wyss For 20 minutes, Wes Edens barely pauses as he talks about the sunny prospects for his beleaguered liquefied natural gas company, New Fortress Energy. Dressed in … Read more
By Yawen Chen (Reuters Breakingviews) – The U.S. seizure of a sanctioned tanker has sharpened President Donald Trump’s standoff with Venezuela’s Nicolás Maduro. It does not, however, make the country’s 300 billion barrels of theoretical oil reserves – the world’s largest – any easier to turn into usable supply. Even if Washington’s pressure campaign leads … Read more
Alberta oilsands more resilient to lower prices than U.S. rivals who are cutting budgets to cope with below US$60 crude By Meghan Potkins Originally published in the Financial Post – This Story and More by Meghan Potkins Here Canada’s largest oilpatch spenders have begun unveiling their 2026 budgets, with early signs showing oilsands spending … Read more
Brent crude oil is expected to average $65 per barrel next year, Barclays said on Thursday, while projecting a supply surplus for the year. “We expect a 1.9 million barrels per day surplus next year, but inventories remain low and builds continue to surprise to the downside,” Barclays said in a note. It added that … Read more
By Bruno Venditti | Graphics/Design: Anna Diederichs Key Takeaways Saudi Arabia leads with nearly $1 million in natural resources per person, far ahead of other prominent resource-rich nations. Large populations push China and the U.S. to the bottom of the top 10 despite their large total reserves. How many dollars of natural resource wealth do the … Read more
(Reuters) – Venture Global submitted its response late on Tuesday to a legal challenge from Shell over the oil major’s defeat in an arbitration case concerning liquefied natural gas cargoes, rejecting allegations of fraud and accusing Shell of breaching arbitration confidentiality. The legal documents submitted in New York Supreme Court mark the latest development in … Read more
(Reuters) – BP, Chevron and Shell were among the top bidders on Wednesday at the U.S. government’s first sale of oil and gas drilling rights in the Gulf of Mexico since 2023. The auction, which ended with $279.4 million in high bids, was the first of 30 mandated by U.S. President Donald Trump’s tax cut … Read more
Summary Brent and WTI down more than 4% this week Supply glut remains main market focus US plans to seize more tankers off Venezuela coast, sources say (Reuters) – Oil prices inched lower on Friday and were on track for a weekly decline as investors focussed on a supply glut and potential Russia-Ukraine peace deal, … Read more
(Reuters) – SLB said on Thursday that it was partnering with Shell to develop digital and artificial intelligence tools aimed at improving performance and efficiency across upstream operations. Shell and SLB will develop agentic AI-powered solutions designed to enhance the capabilities of technical experts and decision makers for Shell as well as the wider energy … Read more
Oil production in the Permian basin is poised to peak in December, a watershed moment for the U.S. shale boom that upended the global energy market over the past 15 years. Yet drilling innovations mean output in America’s most prolific oil patch will hold steady for years to come. The Permian basin, which straddles West … Read more
(Reuters) – The United States imposed new sanctions on Thursday on three nephews of Venezuelan President Nicolas Maduro and six ships transporting the nation’s oil, Axios reported. The measures will be announced by Treasury Secretary Scott Bessent, it said. President Donald Trump said on Wednesday that the U.S. had seized a sanctioned oil tanker off … Read more
(Reuters) – The U.S. is preparing to intercept more ships transporting Venezuelan oil following the seizure of a tanker this week, as it increases pressure on Venezuelan President Nicolas Maduro, six sources familiar with the matter said on Thursday. The seizure was the first interdiction of an oil cargo or tanker from Venezuela, which has … Read more
(Reuters) – Oil exports of the Caspian Pipeline Consortium (CPC), which ships oil from Kazakhstan via a pipeline and subsequently a Russian Black Sea terminal, declined by 12% in November from October, two industry sources said on Thursday. CPC, which handles around 80% of Kazakhstan’s oil exports, was attacked by a Ukrainian drone on November … Read more
A trader works as a screen displays the trading information for BlackRock on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 14, 2022. REUTERS/Brendan McDermid/File Photo (Reuters) – BlackRock has sold a 7.1% stake in Spanish gas utility Naturgy for around 1.7 billion euros ($1.99 billion) through an accelerated … Read more
(Reuters) – World oil supply will match demand closely in 2026, OPEC data published on Thursday indicated, an outlook contrasting with projections from the International Energy Agency and others of a huge glut. The OPEC+ group comprising the Organization of the Petroleum Exporting Countries, Russia and other allies plans to pause production hikes in the … Read more
Summary Move is first known tanker seizure since US build-up began Signals new effort to go after Venezuela’s main revenue source Impact on global oil supply unclear (Reuters) – The U.S. has seized a sanctioned oil tanker off the coast of Venezuela, President Donald Trump said on Wednesday, a move that sent oil prices higher and … Read more
The International Energy Agency lifted its 2026 global oil demand growth forecasts while trimming its supply growth predictions in its latest monthly oil market report on Thursday, implying a slightly narrower surplus for the market next year. The Paris-based agency now expects global oil supply to exceed demand by 3.84 million barrels per day, compared … Read more
Canada’s Cenovus Energy on Thursday forecast higher crude oil production for 2026 as major oil sands projects near completion. The company expects upstream production between 945,000 and 985,000 barrels of oil equivalent per day (boepd) for 2026, surpassing its 2025 forecast range of 805,000 to 845,000 boepd.The producer said it would allocate C$850 million in spending … Read more
Summary Witkoff visit helped resolve misunderstandings, Russia says US seizes sanctioned oil tanker off Venezuela coast IEA trims its 2026 market surplus forecast (Reuters) – Oil prices eased on Thursday as investors shifted focus back to Russia-Ukraine peace talks and monitored potential fallout from a U.S. seizure of a sanctioned oil tanker off the coast … Read more
(Reuters) – U.S. oil production is expected to hit a larger record this year than previously expected, the Energy Information Administration said on Tuesday, as expectations mount of a global supply glut. The agency raised its forecast for 2025 oil production by 20,000 to average 13.61 million barrels per day in 2025, the highest on … Read more
U.S. President Donald Trump’s plan for peace in Ukraine includes proposals to restore Russian energy flows to Europe, major U.S. investment in Russian rare earths and energy, and tapping frozen Russian sovereign assets, the Wall Street Journal said. The newspaper said the plans were detailed in appendices to peace proposals handed to European counterparts over … Read more
(Reuters) – Oil buyers in Asia are demanding deep discounts on Venezuelan crude due to a flood of sanctioned oil from Russia and Iran on offer and to heightened risk of loading in the South American country as the U.S. boosts its military presence in the Caribbean, traders and other sources said. Venezuela has managed … Read more
(Reuters) – U.S. pipeline operator Energy Transfer has secured enough agreements to sell liquefied natural gas to make a final investment decision on its Lake Charles LNG project early next year, an executive said on Wednesday at the Reuters Energy Live conference in Houston. Energy Transfer has been developing the LNG export facility in Louisiana, … Read more
By Liz Hampton (Reuters) – HOUSTON, Dec 10 – U.S. crude inventories fell, while gasoline and distillates stockpiles rose last week amid strong refining activity, the Energy Information Administration said on Wednesday. Crude inventories fell by 1.8 million barrels to 425.7 million barrels in the week ended December 5, the EIA said in its weekly … Read more
(Reuters) – U.S. sanctions against Russian oil majors Lukoil and Rosneft could trigger a structural reshaping of the global oil sector over the next year, reversing Moscow’s decades-long efforts to expand its international clout through energy investment. When President Donald Trump in October slapped sanctions on Rosneft and Lukoil, which together account directly or indirectly … Read more
By Yagnoseni Das Dec 10 (Reuters) – Shares of GE Vernova (GEV.N) surged to a record high on Wednesday after the power-equipment maker forecast higher revenue for 2026 and raised its buyback program by $4 billion. Surging electricity demand from artificial intelligence and other data-heavy industries is driving strong growth across the company’s grid and … Read more
Ron Bousso (Reuters) – Venezuela is likely to retain its seat in OPEC even if U.S. President Donald Trump successfully forces a change of government in the oil-rich country, as the U.S. is seeking to bolster its alliance with the cartel even as it expands its own sphere of influence. The U.S. has recently been increasing pressure on Venezuelan … Read more
By Reuters (Reuters) – The Trump administration will hold the government’s first sale of oil and gas drilling rights in the Gulf of Mexico since 2023 on Wednesday, a key test of industry appetite for offshore acreage at a time when the United States is seeking to unleash more domestic fossil fuel production. The auction is the first … Read more
Suspension of clean energy regulations will make it possible to build new gas-fired power plants to support large data centres By Robert Tuttle Capital Power Corp.’s top executive says it will become possible to build new gas-fired power plants to support large data centres in Alberta after the Canadian government relaxed environmental standards for electricity. … Read more
Summary Power demand seen rising 32% by 2030, driven by AI expansion Federal delays threaten solar and wind projects on public and private lands Renewable plants are quicker to bring online, but Trump says less reliable Dec 10 (Reuters) – U.S. President Donald Trump’s freeze on approvals for major onshore wind and solar projects is … Read more
Summary Market seeks cues from peace talks and Fed rate decision Fed expected to cut interest rates by 25 bps on Wednesday Russian oil supply risks offset oversupply concerns (Reuters) – Oil prices steadied on Wednesday as investors watched for progress in Russia-Ukraine peace talks and awaited a decision on U.S. interest rates. After declines … Read more
By Souhail Karam Illustration of Nador West Med port in Morocco. Source: Marsa Maroc Morocco is getting closer to creating an almost $1 billion liquefied natural gas hub at a new deep-sea port on its Mediterranean coast, as it plans to boost imports to curb the use of dirtier fuels. The nation this week issued … Read more
(Reuters) – U.S. natural gas output and demand will both rise to record highs in 2025, the U.S. Energy Information Administration said in its Short-Term Energy Outlook on Tuesday. EIA projected dry gas production will rise from 103.2 billion cubic feet per day in 2024 to 107.7 bcfd in 2025 and 109.1 bcfd in 2026. … Read more
(Reuters) – Chevron CEO Mike Wirth said on Tuesday he is in discussions with the board of directors about when he will step down from the U.S. oil producer. “I’ve been doing this for eight years, and as soon as we’ve got the next person ready to go, my job is to get out of … Read more
(Reuters) – U.S. natural gas futures dropped about 7% for the second straight day to a one-week low on Tuesday, on more moderate two-week forecasts for weather and demand, near-record output, ample amounts of gas in storage and lower prices around the world. Front-month gas futures for January delivery on the New York Mercantile Exchange … Read more
(Reuters) – U.S. power consumption will hit record highs in 2025 and 2026, the Energy Information Administration said in its short-term energy outlook on Tuesday. The EIA projected power demand will rise to 4,199 billion kilowatt-hours in 2025 and 4,267 billion kWh in 2026, up from a record 4,110 billion kWh in 2024. The demand … Read more
AUSTIN, Texas (Dec. 9, 2025) Enverus, the leading energy SaaS and analytics platform, today announced the appointment of Matt Johnson as its new president and Chief Revenue Officer (CRO), effective December 8, 2025. Johnson brings more than two decades of experience in enterprise software leadership, most recently serving as president of Mitratech, where he led … Read more
Australia is set to issue a gas market review that could curb exports of liquefied natural gas from its east coast, where three operators led by firms such as Shell and Santos send cargoes to Asia and beyond. The review, which industry watchers expect Canberra to release as soon as this week, could include a policy … Read more
Increases of $5 billion in earnings and cash flow growth at constant prices and margins vs. prior plan with no capital spending increase1 Cumulative structural cost savings plan increased by $2 billion, now $20 billion vs. 2019 All 2030 corporate GHG emissions intensity plans now expected to be achieved in 2026 SPRING, Texas–(BUSINESS WIRE)–ExxonMobil today … Read more
Gavin Maguire (Reuters) – For the first time, Texas’ main power system looks set to generate more power from solar farms than coal plants during a calendar year in 2025, marking a key new energy transition milestone for the largest power network in the U.S. The Electric Reliability Council of Texas (ERCOT) generated 2.64 million … Read more
(Reuters) – The U.S. solar industry installed 11.7 gigawatts of new solar capacity in the third quarter, a jump of 49% sequentially, a study by the Solar Energy Industries Association and Wood Mackenzie showed on Tuesday. The report said solar accounted for 58% of all new electricity-generating capacity added to the U.S. grid through the … Read more
Summary Strathcona plans to increase production to 300,000 bpd by 2035 Company is one of North America’s fastest-growing oil producers Waterous known for outspoken style (Reuters) – Canadian banker-turned-oil-tycoon Adam Waterous, an industry outsider who lives in a Rocky Mountain tourist town, not energy hub Calgary, has a plan to cement his company’s status as … Read more
By Mark Chediak and Ari Natter President Donald Trump’s executive order directing government agencies to halt approving new wind energy projects was ruled illegal by a federal judge. The ruling Monday sided with more than a dozen states and a New York clean energy group that had challenged the executive order that essentially froze US … Read more
Summary Prices likely to hover in tight range near-term, analysts say Russia-Ukraine peace talks still in progress Investors pricing in high possibility of rate cut at Fed meeting (Reuters) – Oil prices steadied on Tuesday after falling 2% in the previous session, with investors keeping a close eye on peace talks to end Russia’s war … Read more
(Reuters) – Exxon Mobil is targeting $25 billion in earnings growth from 2024 to 2030 and will increase oil and gas production, the top U.S. oil producer said on Tuesday as it leans on profitable assets in Guyana and the Permian Basin. The outlook represents a $5 billion increase from its previous plan, although Exxon … Read more
Dec 8 (Reuters) – NextEra Energy (NEE.N) on Monday raised its adjusted profit forecast for the current-year as well as 2026, as the utility benefits from a surge in power demand driven by data centers. This move comes amid increased power demand driven by data centers strains grids across the country and as a wave … Read more
(Reuters) – Kazakhstan’s Caspian Pipeline Consortium, which accounts for 1% of global crude supply, will not return to full export capacity until at least December 11 after a Ukrainian drone attack damaged a key part of its terminal, two industry sources told Reuters. The CPC terminal, which handles around 80% of Kazakhstan’s oil exports, was … Read more
Calgary, Canada – October 2025 . Microwatt, a trusted leader in industrial safety solutions across Canada and the USA, is proud to announce that the Sorama CAM iV64Ex is now officially ATEX and IECEx certified by DEKRA. This certification confirms safe operation in explosive industrial environments, providing operators with confidence when conducting inspections in high-risk … Read more
The G7’s proposed plan to bar tankers from hauling Russian oil ups the ante in the West’s economic stand-off with Moscow, but the ultimate bite hinges on whether governments will ratchet up punishments on those skirting sanctions. And with Russian President Vladimir Putin working tirelessly to strengthen Moscow’s own alliances, including India and China, the … Read more
Poland is aiming to become the main entry point for global LNG into Central and Eastern Europe as Europe moves away from Russian gas The country is considering new liquefied natural gas infrastructure, including a potential new floating LNG import terminal on the Baltic Sea, to transform itself into a regional gateway. Poland’s central position … Read more
Canadians support agreement between Alberta and Ottawa and the major economic opportunities it could unlock for the benefit of all By Danielle Smith Original: financialpost.com/news/economy/danielle-smith-canada-first-step-becoming-energy-superpower If Canada wants to lead global energy security efforts, build out sovereign AI infrastructure, increase funding to social programs and national defence and expand trade to new markets, we must … Read more
Only the fast and the competitive will prosper in changing times. By Nelson Bennett WUDONG, a liquefied natural gas (LNG) tanker, fills up at an LNG Canada facility, in an aerial view, in Kitimat, B.C., on Thursday, November 13, 2025. THE CANADIAN PRESS/Ethan Cairns By Resource Works More News and Views From Resource Works Here … Read more
Summary 84% chance of a quarter-point Fed cut, LSEG data shows G7, EU mull Russian oil maritime services ban, sources say Progress on Ukraine peace talks remains slow (Reuters) – Oil prices declined on Monday as investors monitored ongoing talks to end the war in Ukraine ahead of an expected U.S. Federal Reserve interest rate cut this week. Brent … Read more
Antero to Buy Gas Production Assets From HG for $2.8 Billion Antero Resources Corp. and its pipeline affiliate agreed to buy natural gas production and pipeline assets from privately-held HG Energy II LLC for a combined $3.9 billion in cash, expanding its reserves of the fuel just as prices are rebounding. Antero Resources will pay $2.8 … Read more
(Reuters) – NextEra Energy said on Monday it has expanded its partnership with Google Cloud to scale up data center capacity by multiple gigawatts and boost energy infrastructure across the U.S. Shares of the company were up 2.3% in premarket trading. The deal comes as U.S. electricity demand grows due to rapid AI adoption, prompting cloud … Read more
(Reuters) – U.S. energy firms this week added drilling rigs for the fourth time in five 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 five to 549 in the week to December 5, its highest … Read more
By Scott Disavino US central bank expected to cut rates next week Russia-Ukraine talks stall, affecting oil supply outlook OPEC+ production steady, geopolitical tensions influence prices NEW YORK, Dec 5 (Reuters) – Oil prices edged up nearly 1% to a two-week high on Friday on increasing expectations the U.S. Federal Reserve will cut interest rates … Read more
The Australian unit of U.S. oil giant Chevron said on Friday that the partners of the Gorgon Joint Venture have approved the A$3 billion ($1.98 billion) Gorgon Stage 3 development off Western Australia’s northwest coast. The development will be used as backfill for the existing LNG export concern and will link the offshore Geryon and Eurytion … Read more
Congressional lawmakers on Thursday voted to repeal a Biden-era policy that limited the amount of land in an Alaska wildlife refuge that could be leased for oil and gas development. The U.S. Senate voted 49-45 to approve a resolution that revokes the Interior Department’s 2024 rule governing energy development on the 1.56-million-acre Coastal Plain of … Read more
A Canadian pipeline boss led a new report advising the Trump administration on how to more quickly build new oil and gas infrastructure in the United States amid a push north of the border to do the same.
U.S. Energy Secretary Chris Wright requested …
(Reuters) – U.S. natural gas futures edged up about 1% to a 35-month high on near-record flows of gas to liquefied natural gas (LNG) export plants and as extreme cold boosted heating demand and cash prices in several regions to their highest since last winter. Limiting Thursday’s price increase for most of the trading day … Read more
(Reuters) – Oil prices were steady on Friday, supported by stalled Ukraine peace talks, though gains were offset by expectations of a supply glut. Brent crude was down 7 cents, or 0.1%, to $63.19 per barrel by 1255 GMT. U.S. West Texas Intermediate dipped 10 cents, or 0.2%, to $59.57 a barrel. For the week, … Read more
(Reuters) – Glenfarne’s Alaska LNG unit said on Thursday it finalized an agreement to supply 1 million tonnes per annum of liquefied natural gas to South Korean trading firm POSCO International for 20 years from its planned export project. This follows a preliminary agreement signed in September. Global demand for the superchilled fuel has surged … Read more
(Reuters) – Kazakhstan’s oil and gas condensate production declined by 6% in the first two days of December, an industry source said on Thursday, following a Ukrainian drone attack on the Caspian Pipeline Consortium’s (CPC) Black Sea loading facility. The CPC pipeline, which carries over 80% of Kazakhstan’s oil exports and handles more than 1% … Read more
Soaring U.S. natural gas prices are eroding profit margins for the nation’s LNG producers, a trend that could deepen in the coming years, forcing exports to drop as global competition heats up. U.S. benchmark Henry Hub gas prices spiked on Wednesday to their highest level in three years at over $5 per million … Read more
Summary U.S. crude stocks rise vs expected draw Peace talks on Russia-Ukraine stall (Reuters) – Oil prices were steady on Thursday, with the market focused on Ukraine’s attacks on Russian oil assets, while stalled peace talks tempered expectations of a deal restoring Russian oil flows. Brent crude rose 24 cents, or 0.4%, to $62.91 at … Read more
HOUSTON–(BUSINESS WIRE)–Chevron Corporation (NYSE: CVX) today announced an organic capital expenditure range of $18 to $19 billion for consolidated subsidiaries (capex) for 2026, at the low-end of the long-term guidance range of $18 to $21 billion. Affiliate capital expenditure (affiliate capex) is expected to be $1.3 to $1.7 billion for 2026. “Our 2026 capital program focuses … Read more
Heavy Western Canadian Select fell to US$13 below West Texas Intermediate on Tuesday By Robert Tuttle Canadian crude prices have fallen to their weakest relative to the U.S. benchmark since March as surging production from Alberta meets an already well-supplied world market. Heavy Western Canadian Select, traded in Alberta for January, fell to US$13 below … Read more
(Reuters) – HOUSTON, Dec 3 – U.S. crude and gasoline stocks rose while distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 574,000 barrels to 427.5 million barrels in the week ended November 28, the EIA said, compared with analysts’ expectations in a Reuters poll for an 821,000-barrel … Read more
(Reuters) – Enbridge on Wednesday forecast higher core profit for 2026, as the Canadian pipeline operator expects to benefit from strong demand and new projects entering service. The company projected an adjusted core profit of C$20.2 billion ($14.49 billion) to C$20.8 billion, compared with expectations of between C$19.4 billion and C$20 billion for this year. … Read more
(Reuters) – U.S. natural gas futures climbed about 3% on Wednesday to a 35-month high, on record flows to liquefied natural gas (LNG) export plants and forecasts for colder weather and higher demand over the next two weeks than previously expected. Limiting gains were record output, ample amounts of gas in storage and lower gas … Read more
Chevron said on Wednesday that capital expenditure for 2026 will be between $18 billion and $19 billion as the oil major focuses on production in the U.S. and investments connected to a recently-acquired oil stake in Guyana. The range is at the low-end of previous guidance that put annual investment between $18 billion and … Read more
By Ewa Krukowska and Stephen Stapczynski The European Union has reached a deal to phase out Russian gas faster than originally planned, a move that aims to finally sever ties between the bloc and its once-primary energy supplier. In the aftermath of the invasion of Ukraine, traders and energy companies have closely monitored the EU’s … Read more
(Reuters) – Venezuela’s oil exports rose slightly to some 921,000 barrels per day (bpd) in November, the third-highest monthly average so far this year, as the country used more diluents to produce exportable grades, according to shipping data and documents. The OPEC producer is under increasing political pressure from the U.S., which has struck a … Read more
(Reuters) – U.S. crude oil imports from Mexico fell by 431,000 barrels per day (bpd) to a weekly record low of 131,000 bpd in the week ended November 28, 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
It has been over a month since the head of Pemex made a plea for partners to help Mexico’s ailing state oil company on projects needed to boost dwindling production, but national and international companies have not yet bitten. “We’re open,” Victor Rodriguez told the assembled executives on October 23, at an energy event in … Read more
By Elena Mazneva and Jonathan Gilbert Argentina has secured its first agreement for long-term sales of liquefied natural gas, a key step in its bid to become a global supplier of the fuel as drilling ramps up in its Vaca Muerta shale patch. A consortium of natural gas producers led by Pan American Energy Group, … Read more
(Reuters) – The U.S. Energy Information Administration published its weekly petroleum status report more than half an hour later than expected on Wednesday due to technical issues, although some traders got access to the data earlier than others. Oil traders closely watch the weekly EIA report as it includes the U.S. government’s official update on … Read more
(Reuters) – Oil prices climbed more than 1% on Wednesday after Russia said talks with U.S. officials in Moscow failed to reach a compromise on a potential Ukraine peace deal that could have eased sanctions on its oil sector. Brent crude gained 78 cents, or 1.3%, to $63.23 at 1010 GMT, while U.S. West Texas … Read more
By Timothy Gardner Dec 2 (Reuters) – The U.S. Department of Energy said on Tuesday it will provide up to $800 million to support development of small modular reactors by the Tennessee Valley Authority and private company Holtec. The Trump administration and nuclear companies believe SMRs will help supply electricity to the U.S. where power … Read more
By Ari Natter and Josh Saul The US is looking to tap the nation’s network of large industrial diesel generators used at data centers, big box stores and elsewhere to help curb rising electricity costs and support the surge in power demand from artificial intelligence, according to Energy Secretary Chris Wright. Such a move could … Read more
Report reveals congestion risks, infrastructure growth, and forecasts for North American energy markets AUSTIN, Texas (Dec. 2, 2025) Enverus, the leading energy SaaS and analytics platform, is releasing its 2025 Winter Power Market Outlook, providing actionable insights for stakeholders across North America’s major power markets. The report forecasts significant infrastructure growth in solar and battery energy … Read more
By Alex Lawler, Ahmad Ghaddar and Olesya Astakhova Consultants to be appointed to carry out capacity assessments Saudi minister says OPEC+ meeting was one of most successful in his career OPEC+ meeting on Sunday agreed a new maximum production capacity mechanism LONDON/MOSCOW, Dec 2 (Reuters) – OPEC+ members will undergo an annual assessment of their … Read more
By Ahmed Rasheed and Aref Mohammed Lukoil seeks to sell assets due to U.S. sanctions West Qurna 2 is Lukoil’s largest foreign asset Exxon preferred by Iraq for West Qurna 2 takeover BAGHDAD, Dec 2 (Reuters) – Exxon Mobil (XOM.N) has approached the Iraqi oil ministry to express its interest in buying Russian firm Lukoil’s … Read more
Venezuela’s President Nicolas Maduro is running out of options to step down and leave his country under U.S.-guaranteed safe passage, following a short call with U.S. President Donald Trump last month where Trump refused a series of requests from the Venezuelan leader, according to four sources briefed on the call. The call, on November 21, … Read more
Asia’s imports of liquefied natural gas flatlined in November, putting the top-buying region of the super-chilled fuel on track to record its first annual decline in three years. Much of the blame for the soft outcome can be laid at the door of China, which may lose its status as the world’s top LNG importer … Read more
(Reuters) – The global boom in data centers as companies increasingly outsource information storage and ramp up use of energy-intensive artificial intelligence is creating a key challenge for the industry – how to keep cool. An outage at the world’s biggest exchange operator CME Group from late Thursday that halted trade on its popular currency platform and … Read more
Oil prices have been falling as the market faces the prospect of a growing surplus. This year is set to culminate in the first major glut since 2020. The International Energy Agency forecast in November that global supply will outweigh demand by 2.4 million barrels a day, and expects the gap to expand to a … Read more
(Reuters) – Changes OPEC+ is making to its oil production quota system will likely spark a wave of upstream investments among members, particularly in low-cost Gulf producers, diminishing concerns of long-term supply shortages. The Organization of the Petroleum Exporting Countries and other major producing nations, including Russia and Kazakhstan, collectively known as OPEC+, approved on Sunday a new … Read more
(Reuters) – U.S. liquefied natural gas exports hit an all-time monthly high in November for the second straight month, driven by cooler weather and robust output from the country’s two largest producers, preliminary data from financial firm LSEG showed on Monday. The U.S., the world’s top LNG exporter, shipped 10.9 million metric tonnes last month, … Read more
Summary Markets weigh risk from Ukraine attacks on Russian facilities Caution emerges over US-Venezuela situation Decline in India’s Russian oil imports may be brief: Kremlin spokesperson LONDON, Dec 2 (Reuters) – Oil prices held firm on Tuesday as traders weighed up risks from Ukrainian drone strikes on Russian energy sites and mounting U.S.-Venezuela tensions. Brent … Read more
By Marianna Parraga Sale, expected to close in 2026, needs OFAC approval Citgo’s refineries provide stable earnings throughout the year Amber expected to shake up Citgo’s board Some contractors might become permanent employees after deal HOUSTON, Dec 1 (Reuters) – Elliott Investment Management’s affiliate Amber Energy plans to keep Citgo Petroleum’s refineries, terminals and other … Read more
By Laila Kearney Dec 1 (Reuters) – The U.S. Midwest grid operator will fast-track reviews of 15 more power projects to accelerate the addition of electricity supply, the Midcontinent Independent System Operator said on Monday, as part of a program facing legal challenges from consumer and environmental groups. Some of the country’s biggest regional grids … Read more
By Erwin Seba Brent, WTI rise more than 1% Ukraine drone attacks hit tankers carrying Russian oil HOUSTON, Dec 1 (Reuters) – Oil prices rose more than 1% on Monday following drone attacks by Ukraine, the closure of Venezuelan airspace by the United States, and OPEC’s decision to leave output levels unchanged in the first … Read more
Canadian Solar, was the world’s seventh-biggest producer of solar panels last year A major solar panel manufacturer is transferring the assets of its Chinese unit to Canadian ownership, to safeguard sales into the U.S. as Washington steps up scrutiny of imports from the Asian nation. CSI Solar Co., based in Suzhou, will sell 75.1 per … Read more
By Olga Tanas Harbour Energy Plc, one of the largest independent oil and gas firms in the UK, expects to cut another 100 jobs after the government decided to keep a windfall tax on North Sea producers. The Labour government last week said it plans to retain the Energy Profits Levy — introduced by the … Read more
By Joe Ryan Natural gas pipeline operator Targa Resources Corp. reached a deal to buy smaller rival Stakeholder Midstream for $1.25 billion in cash. The move expands Houston-based Targa’s ability to ship and store oil and gas in the Permian Basin, according to a statement Monday. The region has long been short on gas pipeline … Read more
By Ron Bousso LONDON, Dec 1 (Reuters) – European countries are loosening their strict opposition to new oil and gas drilling, reversing years of climate-driven resistance to fossil fuels as governments seek to reduce a heavy reliance on costly energy imports, including from the U.S. The change in tack in Greece, Italy and Britain reflects … Read more
Summary Companies One of three mooring points damaged, one offline Analysts estimate CPC exports halved Kazakhstan protests Ukraine strikes CPC exports had been seen rising (Reuters) – U.S. oil major Chevron said late on Sunday that loadings of its Tengizchevroil venture’s crude oil were continuing at the Russian port of Novorossiysk following a Ukrainian naval drone … Read more
At first glance the decision by OPEC+ to leave oil output levels unchanged for the first quarter of next year could be viewed as confirmation the exporter group is concerned about a looming crude supply glut. It was widely expected that the eight members of OPEC+ undertaking voluntary oil output cuts would stick to their … Read more
By Reuters (Reuters) – A new mechanism adopted by OPEC+ to assess members’ maximum output capacity will ultimately help to stabilise markets and reward those who invest in production, Saudi Energy Minister Prince Abdulaziz bin Salman said on Monday. The OPEC+ group approved the mechanism to assess members’ maximum production capacity to be used for setting baselines from … Read more
Oil prices are projected to remain under pressure in 2026, as swelling supplies eclipse modest demand growth, while geopolitical risks could cap deeper losses, a Reuters poll showed on Friday. The survey of 35 economists and analysts forecast that Brent crude would average $62.23 per barrel in 2026, down from October’s forecast of $63.15. The … Read more
U.S. President Donald Trump said on Saturday that the airspace above and surrounding Venezuela should be considered “closed in its entirety”, but gave no further details as Washington ramps up pressure on President Nicolas Maduro’s government. “To all Airlines, Pilots, Drug Dealers, and Human Traffickers, please consider THE AIRSPACE ABOVE AND SURROUNDING VENEZUELA TO BE … Read more
Russia’s foreign ministry said on Sunday that Ukrainian attacks on oil tankers and Caspian Pipeline Consortium (CPC) infrastructure in the Black Sea were “acts of terrorism” that threaten freedom of navigation in the region. The CPC, which includes Russian, Kazakh and U.S. shareholders, said it had halted operations after a mooring at its Russian terminal … Read more
OPEC+ agreed to leave oil output levels unchanged for the first quarter of 2026 at its meetings on Sunday as the group slows down its push to regain market share amid fears of a looming supply glut. The meeting of OPEC+, which pumps half of the world’s oil, comes during a fresh U.S. effort to … Read more
The Caspian Pipeline Consortium (CPC), which handles more than 1% of global oil, said on Saturday it halted operations after a mooring at its Black sea terminal was significantly damaged by a Ukrainian naval drones attack. “Further operation of mooring point 2 is not possible,” it said in a statement about one of three key … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in four weeks, with oil rigs dropping to a four-year low, energy services firm Baker Hughes said in its closely followed report on Wednesday. The oil and gas rig count, an early indicator of … Read more
Summary CME system resumes trading after outage Brent, WTI in longest monthly losing streaks since 2023 US crude production hit monthly high in September, EIA says (Reuters) – Crude futures fell marginally on Friday as investors considered oil’s geopolitical risk premium amid drawn-out Russia-Ukraine peace talks, while keeping an eye on Sunday’s OPEC+ meeting for … Read more
The Cheniere Sabine Pass liquefied natural gas export terminal in Cameron, Louisiana, US. US liquefied natural gas exports are set to hit a record high this month, helping to tame prices in Asia and Europe as winter begins. The US is expected to ship 10.7 million tons in November, according to predictive ship-tracking data from Kpler. … Read more
Takeaways by Bloomberg AI Prime Minister Mark Carney lost a cabinet minister over his oil pipeline agreement with Alberta, marking the first major fracture in his Liberal Party caucus over the government’s energy policies. Steven Guilbeault resigned his position as culture minister, stating the government failed to consult Indigenous communities and the pipeline would pose significant … Read more
Ron Bousso (Reuters) – Europe’s gas market is far calmer today after years of turmoil that saw the region swap Russian supplies for liquefied natural gas (LNG) imports, a strategy that is unlikely to change even if U.S. President Donald Trump brokers a peace deal in Ukraine. The White House is pushing Moscow and Kiev to agree to a plan to … Read more
(Reuters) – The European Union, Britain and the U.S. have imposed a raft of sanctions against Russia over its war in Ukraine. In October, the U.S. targeted Russia’s two top oil producers, Rosneft and Lukoil. Below is a timeline of key Western sanctions imposed since August 2024: 2024: August 23 – The U.S. imposed sanctions … Read more
Summary CME system outage halts trading Brent, WTI in longest monthly losing streaks since 2023 on risks of rising supply (Reuters) – Brent crude oil futures were largely unchanged on Friday while drawn-out Russia-Ukraine peace talks kept geopolitical risks elevated, while traders kept one eye on the outcome of an OPEC+ meeting on Sunday for … Read more
US natural gas futures rose as trading resumed on the Chicago Mercantile Exchange and wintry weather hits parts of the Midwest and East, with forecasts showing below-normal temperatures in the coming weeks for the Northeast and Great Lakes. Futures for January delivery +13c, or +2.9%, to $4.688/mmbtu on Nymex, as of 9:07am ET Weather: Heavy … Read more
By Rachel Aiello Prime Minister Mark Carney and Alberta Premier Danielle Smith have signed a major new energy co-operation agreement outlining the emission and other climate conditions that need to be met in order for the federal government to provide a “clear and efficient” process to approve a new oil pipeline to the Pacific under … Read more
(Reuters) – Russia’s Urals oil price discount to global benchmark Brent widened by six percentage points this month to 23%, Russian central bank said on Thursday it its review. The discounts, though less severe than those seen after the initial wave of Western sanctions in 2022, reflect mounting pressure on Russian oil revenues – a … Read more
(Reuters) – Ukraine’s and the U.S. negotiating teams will meet soon, Foreign Minister Andrii Sybiha said on Thursday, adding that Kyiv would focus on specific steps in peace proposals. “Our expectations are concrete results. Concrete results so that progress can be made,” Sybiha told a news briefing. “It is extremely important for us, and Ukraine … Read more
(Reuters) – U.S. crude stocks climbed as imports rose to an 11-week high, the EIA said on Wednesday, while fuel inventories also increased as refining activity ticked higher. Crude inventories climbed by 2.8 million barrels to 426.9 million barrels in the week ended November 21, the EIA said, compared with analysts’ expectations in a Reuters … Read more
Summary Markets pricing in possibility of Russia-Ukraine peace plan Thin trade likely due to US holiday OPEC+ set to keep output unchaned at Sunday meet, sources say (Reuters) – Oil prices steadied on Thursday as market participants weighed talks to end the war in Ukraine against the impact of Western sanctions against Russian supply, though … Read more
(Reuters) – U.S. natural gas futures climbed about 3% to a one-week high on Wednesday on record flows to liquefied natural gas (LNG) export plants, the expiration of a lower-priced contract, forecasts for colder weather and higher demand, and a bigger-than-expected storage withdrawal. Limiting gains were record output, ample amounts of gas in storage and … Read more
(Reuters) – Britain will allow some new oil and gas production on or near existing fields, the government said on Wednesday, easing its stance on new licences while dashing oil and gas producers’ hopes for an early end to windfall taxes on their sector. From an output of around 4.4 million barrels of oil equivalent … Read more
(Reuters) – GOLDMAN SACHS: Estimate downside risks to crude prices, and especially refined oil product prices, if sanctions on Russia’s oil sector were to be lifted Says its base case still assumes a status quo for sanctions on Russian oil, an extension of the recent downward trend in Russia production, and a decline in brent/WTI … Read more
(Reuters) – BP’s 440,000-barrel-per-day oil refinery in Whiting, Indiana, has returned to normal operations following a planned maintenance turnaround in September and a fire in October, two sources said. The largest refinery in the U.S. Midwest returned to normal operations early this week, the sources said. A BP spokesperson declined on Wednesday to comment on … Read more
Bloomberg News Canadian Prime Minister Mark Carney said his government is negotiating an agreement with Alberta that “creates necessary conditions” for the future construction of a new oil pipeline to Canada’s west coast. A project that allows western Canada to ship crude via tanker to overseas markets is one of the main requests of Alberta Premier Danielle … Read more
A Reliance Industries joint venture will invest $11 billion over five years to develop 1 gigawatt of AI data capacity in the southern Indian state of Andhra Pradesh, the companies and the state’s government said on Wednesday. Canadian multinational company Brookfield Corporation and U.S.-based real estate investment trust Digital Realty are the other partners involved … Read more
Venture Global said on Tuesday it has signed a 20-year sales and purchase agreement, or SPA, with Japan’s capital city gas supplier, Tokyo Gas, to supply it with 1 million metric tonnes per annum of liquefied natural gas, starting in 2030. The agreement marks Venture Global’s fourth long-term contract with a Japanese company and the … Read more
Kingsway Instruments is excited to share a FLASH SALE on the Fluke 754 Documenting Process Calibrator with over $3000.00 in savings. If you need Fluke 750P Pressure Modules, or other additional Fluke tools, then receive even greater savings! There is no better time to buy as this is the biggest discount ever on the Fluke … Read more
Summary Ukraine peace deal likely to drag down prices Expected 2026 supply glut weighs on market OPEC+ likely to leave output levels unchanged (Reuters) – Oil prices were steady on Wednesday after sliding to a one-month low in the previous session as investors assessed prospects of oversupply and talks over a Russia-Ukraine peace deal. Brent … Read more
By Ahmad Ghaddar and Alex Lawler OPEC+ meets on Sunday, expected to be online Eight OPEC+ members to also meet on Sunday to review market LONDON, Nov 25 (Reuters) – OPEC+ is likely to leave output levels unchanged at its meeting on Sunday while focusing talks on a theoretical topic of how much oil its … Read more
LONDON, Nov 25 (Reuters) – OPEC+, which pumps about half the world’s oil, has paused oil output hikes for the first quarter of 2026 after releasing some 2.9 million barrels per day into the market since April 2025. The group still has about 3.24 million bpd of output cuts in place, representing around 3% of … Read more
(Reuters) – U.S. LNG producer Venture Global accused Shell of waging a “three-year campaign” to damage its business after Shell appealed an arbitration loss, according to a staff note confirmed by Reuters on Wednesday. Venture Global has faced arbitration claims from Shell, BP and other European buyers alleging contract breaches after the company sold LNG on the spot … Read more
By Marcus Lu | Graphics/Design: Amy Kuo Visualizing All of the World’s Data Centers in 2025 Key Takeaways November 2025 data reveals America’s leadership in digital infrastructure, accounting for roughly 38% of the world’s data centers. Europe is also a major force, with nearly 3,500 data centers across the region. Data centers are the backbone … Read more
By Kari Lundgren Equinor ASA will drill about 26 wildcat and appraisal wells off the coast of Norway in 2026, mostly in the country’s North Sea, as the company looks to spend $6 billion a year over the next ten years to maintain the flow of oil and gas to Europe. Norway’s biggest oil and … Read more
By Shariq Khan ‘Tremendous progress’ toward Ukraine-Russia peace deal, White House says Zelenskiy could visit the US in next few days Russia stresses deal cannot stray too far from its objectives NEW YORK, Nov 25 (Reuters) – Oil prices fell over 2% on Tuesday after Ukraine hinted that an intense diplomatic push by the U.S. … Read more
Summary Maduro could offer a portion of oil cargoes currently sold to China Washington and Caracas could also engage in negotiations to restore US energy licenses New phase of action against Venezuela puts more pressure on Maduro (Reuters) – Venezuelan President Nicolas Maduro has the flexibility and the incentive to offer crude oil cargoes, which … Read more
Takeaways by Bloomberg AI Prime Minister Mark Carney and Alberta Premier Danielle Smith have agreed to the broad terms of a deal that would support a new oil pipeline to Canada’s west coast. The federal and provincial leaders are set to announce a milestone deal granting special exemptions and “political support” to a new pipeline. British … Read more
Nov 24 (Reuters) – The U.S. Federal Energy Regulatory Commission, or FERC, said on Monday it has granted a five-year extension to complete construction of Sempra’s (SRE.N) Cameron LNG export facility in Louisiana and place it into service. In October, Cameron LNG had filed an extension request for five years (until March 16, 2033) to … Read more
By Nicole Jao BP excavates over 200 feet of pipeline to locate leak source Major airlines add refueling stops to flights amid pipeline shutdown Delta Air Lines and Alaska Airlines use tanker trucks to supplement fuel NEW YORK, Nov 24 (Reuters) – BP’s (BP.L) Olympic Pipeline system remained offline on Monday as the oil major … Read more
(Reuters) – U.S. Energy Information Administration: Says although natural gas generation still provides more electricity than any other source in california, electricity generation from natural gas has decreased over the past several years while generation from solar has increased Reports solar generation by utility-scale power plants in california totaled 40.3 billion kilowatthours (bkwh) in the … Read more
Four Democratic U.S. senators said on Monday lax enforcement by the Trump administration of sanctions on Russia’s Arctic LNG 2 export terminal allows China to buy discounted liquefied natural gas and helps Moscow to fund the war against Ukraine. The lawmakers, including Senator Elizabeth Warren, urged the Trump administration in September to resume targeted sanctions … Read more
Summary Fortune 100 companies send more people to Belem than to Baku Extreme weather hits supply chains, profits ‘A decisive role to play,’ says business group chief (Reuters) – Despite the U.S. government souring on the global climate agenda ahead of the COP30 summit, American companies did not shy away. A Reuters analysis of attendance lists … Read more
Summary Oversupply concerns outweigh Russian sanctions’ impact on oil prices Russian oil exports to China discussed amid sanctions Deutsche Bank predicts 2026 oil surplus, bearish outlook LONDON, Nov 25 (Reuters) – Oil prices eased on Tuesday as oversupply concerns outweighed worries that Russian shipments will remain under sanctions as talks to end the Ukraine war … Read more
Revenue from energy production on U.S. public lands and waters fell 11% in the latest fiscal year to $14.61 billion, the Interior Department said on Monday, citing lower prices for commodities like oil. WHY IT’S IMPORTANT The total was the lowest since 2021, the first year of the administration of U.S. President Joe Biden, but … Read more
(Reuters) – JPMorgan forecast on Monday Brent crude at $57 a barrel and West Texas Intermediate (WTI) at $53 in 2027, while keeping its 2026 estimates unchanged at $58 and $54 respectively. Brent crude futures were trading around $62.54 a barrel as of 1434 GMT, while U.S. West Texas Intermediate crude was trading at $58.08. … Read more
CAIRO, Nov 24 (Reuters) – Abu Dhabi state oil company ADNOC plans $150 billion of investment between 2026 and 2030, it said on Monday, seeking to maintain existing operations, drive growth and meet global energy demand. During a meeting on Monday, the board of directors welcomed the company’s increased oil reserves at 120 billion stock … Read more
By Sing Yee Ong Spot freight rates for liquefied natural gas tankers extended a surge as record-breaking exports from North America tied up more vessels. The cost to hire a ship transporting LNG from the US to Europe jumped by about 12% on Friday to $130,750 a day, the highest since December 2023, according to … Read more
By Weilun Soon The cost of hiring an oil supertanker on a benchmark route spiked to the highest in more than five years, as buyers sought alternatives to sanctioned Russian crude amid increased supply from Middle East and US producers. Benchmark rates for very-large crude carriers that can transport up to 2 million barrels from … Read more
(Reuters) – The United States on Monday formally designated Cartel de los Soles a foreign terrorist organization, layering additional terrorism-related sanctions on the group it has said includes Venezuelan President Nicolas Maduro and other high-ranking officials. Venezuela’s government rejected what it called a “ridiculous” U.S. plan to designate the “non-existent” group. Secretary of State Marco … Read more
NextDecade Corp said on Monday it has started the U.S. regulatory pre-filing process to add a sixth liquefaction unit and an extra marine berth at its Rio Grande liquefied natural gas project in Texas, with a full application expected in 2026. The U.S. LNG sector has been rapidly expanding after President Donald Trump lifted the … Read more
Clyde Russell Summary (Reuters) – The weak statement that omitted any mention of fossil fuels was probably the best outcome that could have been realistically expected of the COP30 climate summit. It was always going to be a tall order to put nearly 200 countries with massively different perspectives together and deliver a strong statement … Read more
Reuters The United States is poised to launch a new phase of Venezuela-related operations in the coming days, four U.S. officials told Reuters, as the Trump administration escalates pressure on President Nicolas Maduro’s government. Reuters was not able to establish the exact timing or scope of the new operations, nor whether U.S. President Donald Trump … Read more
(Reuters) – HOUSTON, Nov 21 – There are 10 hydraulic fracturing crews operating in North Dakota, down from 13 in October, the state regulator said on Friday, as weak oil prices push operators to put the brakes on activity. “This is seasonal however I do believe that some of the reduction there is related to … Read more
(Reuters) – Oil prices stabilised on Monday after last week’s decline of about 3%, as investors weighed the chances for a U.S. rate cut against the prospect of a Ukraine peace deal that could lead to an easing of sanctions on major producer Russia. The United States and Ukraine were set to resume work on … Read more
By Gavin Maguire LITTLETON, Colorado, Nov 21 (Reuters) – A potent mix of American ingenuity and full-throated political backing has propelled the U.S. to the top of global LNG exporter rankings, and promoted a narrative that shipments of “freedom gas” will continue climbing to all markets for years to come. But while U.S. liquefied natural … Read more
(Reuters) – U.S. natural gas futures climbed about 2% to a one-week high on Friday with flows to liquefied natural gas export plants back near record highs on the expected return to full service of Freeport LNG’s plant in Texas and on a planned jump in demand in two weeks with the coming of some … Read more
Baytex Energy announced the sale of its U.S. shale operations for $3.25 billion last week By Meghan Potkins Original: financialpost.com/news/us-oil-companies-energy-investors-canada-deals A flurry of recent deals in the Canadian oilpatch that caught the interest of U.S. producers and private capital is fuelling speculation about a revival of foreign investment in Canada’s perennially unloved energy sector. Calgary-based … Read more
By Sheila Dang HOUSTON, Nov 21 (Reuters) – Exxon Mobil (XOM.N) has paused plans to build what would be one of the world’s largest hydrogen production facilities due to weak customer demand, CEO Darren Woods told Reuters in an interview on Friday. The suspension of the project, which had already experienced delays, reflects a wider … Read more
Summary Russia-Ukraine peace deal could boost global crude supply Stronger dollar weighs on oil prices US sanctions on Lukoil and Rosneft to take effect on Friday (Reuters) – Oil prices eased about 1% on Friday to settle at one-month lows as the U.S. pushed for a Russia-Ukraine peace deal that could boost global oil supplies, … 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 September, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by five to … Read more
U.S. liquefied natural gas company Freeport LNG’s export plant in Texas was on track to take in more natural gas on Friday in a sign that one of its three liquefaction trains has returned to service after shutting on Thursday, LSEG data and regulatory filings show. Freeport is one of the world’s most closely … Read more
The United Arab Emirates said on Friday it will invest up to $50 billion in Canada under a framework that includes projects in artificial intelligence, energy, and mining sectors. The UAE has been looking to expand its energy investments abroad, especially through its recently launched firm XRG, the foreign investment arm of Abu Dhabi’s oil … Read more
The COP30 climate summit was headed for a showdown on Friday over the future of fossil fuels after hosts Brazil dropped efforts to develop a global plan to shift away from oil, gas and coal from its proposed deal. A draft text for a deal for this year’s U.N. climate summit, released before dawn on … Read more
Summary Permian Basin starts to show economic strain as oil prices hover around $60 Trump’s tariffs are pushing costs higher, eating into profitability Local businesses and employment suffer amid industry downturn Reuters) – At the heart of the U.S. shale industry in Texas, oil production is climbing. But you wouldn’t know that if you talked … Read more
By Yogi Schulz The characteristics of some US states offer significant advantages over others in the competitive race to attract AI data centers. Contact your member of Congress to express your support for realizing this economic development opportunity for your state. Ohio and Pennsylvania are the states with the most advantages in this analysis. How … Read more
By Christopher Charleston US midstream companies are racing to expand natural gas liquids export capacity as global buyers show interest in American barrels, but analysts warn that a processing squeeze could slow the system long before cargoes reach the docks. While production of natural gas liquids, or NGLs, continue to reach new record highs — … Read more
Summary Shifting interest rate outlook and strong dollar weigh on prices Ukraine will work with Washington on peace plan, says Zelenskiy US sanctions on Lukoil and Rosneft take effect on Friday (Reuters) – Oil prices fell nearly 2% on Friday, extending declines for a third session as the United States pushed for a Russia-Ukraine peace … Read more
By Javier Blas Even after years of technological breakthroughs, the shale industry still leaves most of the oil underground. At best, American drillers siphon away 15% to 10% of what’s potentially available; the rest has remained thousands of feet under the surface. Until now. The next phase of the revolution — call it shale 4.0 … Read more
By Ari Natter The Trump administration is proposing to open new areas off of California, Florida and Alaska to crude drilling as part of a draft blueprint released Thursday that would dramatically expand the sale of oil and natural gas rights. In all, the Interior Department is proposing as many as 34 offshore lease sales … Read more
DOE reorganizes to prioritize oil and nuclear over renewables New divisions include Hydrocarbons and Geothermal Energy Office DOE did not say whether jobs would be affected Nov 20 (Reuters) – The U.S. Department of Energy on Thursday announced a reorganization of the agency that prioritizes oil and nuclear resources over offices that had been dedicated … Read more
By Emma Sanchez The biggest natural gas pipeline boom in nearly 20 years is unfolding in the US South as companies build systems to feed massive export terminals rising along the Gulf of Mexico. As many as 12 projects to install new pipelines or expand existing ones are on pace to be completed next year … Read more
By Mayela Armas CARACAS, Nov 20 (Reuters) – Venezuela’s National Assembly on Thursday approved a 15-year extension of the joint ventures between state company PDVSA and a unit of Russia’s Roszarubezhneft that operate two oilfields in the South American country’s western region, according to a session broadcast on TV. The partnerships may continue operating the … Read more
By Ron Bousso Investment in low-carbon energy to reach $2.2 trillion this year Global renewable power capacity is forecast to double by 2030 Trade tensions to nevertheless slow the energy transition LONDON, Nov 20 (Reuters) – Stalled climate negotiations at COP30 and stubbornly high fossil fuel demand reflect the growing market consensus that the energy … Read more
(Reuters) – Operators of the U.S. electric grid covering the world’s largest data center market on Wednesday said they planned to move forward with a plan to manage the connection of the giant server warehouses that are propelling the country’s power use to record highs and raising the risk of supply shortfalls. PJM Interconnection, the … Read more
By Gianluca Lo Nostro Schneider signs two deals with US data centre operators New agreements expected to generate nearly $2.3 billion in sales Company says its solution can scale AI capacity without raising power demand Nov 19 (Reuters) – Schneider Electric (SCHN.PA) said on Wednesday that it had signed new deals worth almost $2.3 billion … Read more
(Reuters) – U.S. crude stocks fell as refining and export demand rose, while gasoline and distillate inventories rose last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.4 million barrels to 424.2 million barrels in the week ended November 14, the EIA said, compared with analysts’ expectations in a Reuters poll … Read more
(Reuters) – Saudi and U.S. officials on Wednesday touted billions in new investments and growing financial ties between the two countries coinciding with Saudi Arabian Crown Prince Mohammed bin Salman’s visit to Washington. The CEOs from Chevron, Qualcomm, Cisco, General Dynamics and Pfizer are attending the U.S.-Saudi Investment Forum at the Kennedy Center in Washington, … Read more
By Kevin Crowley and Annmarie Hordern Chevron Corp., the only major US oil company left in Venezuela, wants to remain in the sanctioned country for the long-term and sees a role in rebuilding its economy when the time is right. “The kinds of swings that you see in places like Venezuela are challenging but we … Read more
(Reuters) – Crude oil production from Alaska is forecast to reach 477,000 barrels per day (bpd) in 2026, the highest since 2018, the U.S. Energy Information Administration (EIA) said in its latest Short-Term Energy Outlook on Wednesday. The EIA said Alaska oil production is expected to rise 13%, or 55,000 bpd, marking the largest annual … Read more
Summary Brent, WTI up after 2% drops in prior session US crude stocks fall, but gasoline and distillate increase Equities rally, helping oil, but strong dollar weighs (Reuters) – Oil prices edged up on Thursday after falling in the previous session, boosted by a bigger-than-expected draw in U.S. crude stockpiles and a general risk-asset market … Read more
The companies plan to boost capacity to 1 million barrels per day after the deal closes, expected by early 2026, by adding pumping stations and building a 92-mile extension to Exxon Mobil’s Cowboy gas processing plant in Eddy County, New Mexico. The 550-mile Bahia line, now in commissioning, is set to start commercial service soon, … Read more
Nov 19 (Reuters) – The Public Utilities Commission of Ohio on Wednesday ordered FirstEnergy’s (FE.N) Ohio utilities to pay $250.7 million in penalties and refunds after an investigation linked to a bribery scandal found the energy distributor broke state laws and rules. Ohio-based FirstEnergy previously admitted paying millions of dollars to state officials to pursue … Read more
By Francois de Beaupuy TotalEnergies SE Chief Executive Officer Patrick Pouyanne said European nations should avoid becoming too reliant on imports of US liquefied natural gas as they prepare to further trim supplies from Russia. US President Donald Trump “seeks somehow to replace the Russian dependency with an American dependency” as Europe looks for energy, … Read more
By Eric Onstad As China limits exports, MP Materials leads US bid for alternatives Heavy elements dysprosium and terbium are hard to source Brazil emerges as key heavy rare earth ore exporter LONDON, Nov 19 (Reuters) – The West’s push to build a home-grown magnets supply chain to reduce its reliance on China – led … Read more
GLJ Sustainability & Emissions Management Webinar The global trade landscape is undergoing unprecedented transformation; the energy sector is not immune. From geopolitical tensions to shifting supply chains and evolving market dynamics, these disruptions are prompting a strategic reassessment across the industry. Yet, with change comes opportunity. As one of the world’s top oil and gas … Read more
Saudi Arabia will sign energy sector agreements with the U.S. worth $30 billion, the CEO of Saudi state oil giant Aramco, Amin Nasser, said on Wednesday in comments carried by Saudi state TV. His comments came during the U.S.-Saudi investment forum, being held in Washington. Reporting by Yomna Ehab; and Elwely Elwelly; wriitng by Muhammad … Read more
(Reuters) – U.S. natural gas futures climbed about 4% on Wednesday on near-record flows to liquefied natural gas export plants and forecasts for higher demand than previously expected as the weather turns colder than normal going into December. Front-month gas futures for December delivery on the New York Mercantile Exchange rose 16.8 cents, or 3.8%, … Read more
Russian liquefied natural gas producer Novatek has slashed the prices of its cargoes by 30% to 40% since August to entice Chinese buyers to purchase sanctioned gas from its Arctic LNG 2 project, sources familiar with the matter told Reuters. The purchases have ended the commercial limbo for the $21-billion project, which is subject to … Read more
Summary MBS’s first US trip since Khashoggi’s killing in 2018 MBS promises to boost US investment to $1 trillion Event includes top US executives from various sectors WASHINGTON, Nov 19 – Saudi Arabian Crown Prince Mohammed bin Salman will rub shoulders with many of Corporate America’s most powerful executives on Wednesday, a day after President … Read more
Rising power demand driven by data centers is shrinking U.S. electricity supplies and increasing the risk of energy shortages if extreme winter weather strikes this year, the North American Electric Reliability Corporation said on Tuesday. The swift proliferation of data centers in the U.S., along with the electrification of buildings and transportation, is driving up … Read more
A race is on among energy companies to build a major fuel pipeline to the U.S. West Coast, a potentially lucrative prize as the planned closure of two California refineries threatens to send gasoline prices in the isolated market soaring. Motorists in West Coast states have long paid some of the country’s highest fuel prices … Read more
(Reuters) – Global refining margins have hit multi-year highs in November due to sanctions on Russia, refinery outages and maintenance, according to LSEG data and analysts, and some see little respite without more plants being built in the Western world. The strength in margins contrasts with crude oil markets coming under pressure from an expected … Read more
By EnergyNow Staff Western Canada Select (WCS) and West Texas Intermediate (WTI) are both crude oil benchmarks, but they differ in quality, location, and market dynamics — which is why WCS typically trades at a discount to WTI. 1. What They Are WTI (West Texas Intermediate) A light, sweet crude oil (low density, low sulfur). … Read more
By Ruth Liao and Stephen Stapczynski The Golden Pass liquefied natural gas terminal under construction in Sabine Pass, Texas. Photographer: Callaghan O’Hare/Bloomberg The Texas joint venture between QatarEnergy and Exxon Mobil Corp. is targeting February to load its first liquefied natural gas cargo, in what would be a major milestone for US exports of the … Read more
(Reuters) – Oil prices fell on Wednesday due to higher crude inventories in the U.S., reinforcing oversupply concerns, but falls were limited by a tighter fuel market as a result of attacks against Russia’s oil infrastructure. Brent crude futures fell 71 cents, or 1%, to $64.18 a barrel by 1111 GMT, after gaining 1.1% the … Read more
By Anna Hirtenstein, Shariq Khan and Jarrett Renshaw LONDON/NEW YORK, Nov 18 (Reuters) – U.S. oil major Exxon Mobil (XOM.N) has joined rival Chevron Corp (CVX.N) in considering options to buy parts of sanctioned Russian oil major Lukoil’s (LKOH.MM) international assets, sources familiar with the matter said. Exxon is considering options for Lukoil assets in … Read more
Widening gap between forecasts from IEA, OPEC and EIA clouds oil market outlook By Ryohtaroh Satoh and Malcolm Moore Original: financialpost.com/financial-times/barrel-divide-iea-opec-at-odds-oil-demand The widest gap for more than two decades has opened up between the forecasts of the three main international organisations that track the world’s crude markets, causing confusion about global oil demand. The Paris-based … Read more
By Sing Yee Ong and Stephen Stapczynski The cost of transporting liquefied natural gas across the Atlantic Ocean surged to the highest in almost two years, as expanding exports from North America boosted demand for tankers. The spot rate to hire an LNG vessel for delivery from the US to Europe jumped 19% to $98,250 … Read more
FRANKFURT, Nov 18 (Reuters) – Germany is putting natural gas import terminals into operation as part of the country’s efforts to replace piped Russian gas following Moscow’s invasion of Ukraine in 2022. The Elbe River terminal at Stade is now in line to become operational in the second quarter of 2026 at the earliest, according … Read more
By Ron Bousso TotalEnergies acquires 50% in Czech energy company EPH’s power business French company aims to grow power business while also increasing oil and gas Strategy contrasts with Shell and BP that scrapped most renewables plans LONDON, Nov 18 (Reuters) – France’s TotalEnergies (TTEF.PA) is betting big on power and renewables, positioning itself to … Read more
EIR report details coal’s exit, renewable energy trends, and the future of U.S. electricity supply CALGARY, Alberta (Nov. 18, 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 its long-term U.S. power capacity expansion outlook, based on proprietary load forecasts, interconnection … Read more
(Reuters) – President Donald Trump is willing to sign legislation to impose sanctions on Russia as long as he retains ultimate decision-making authority over any such measures, a senior White House official said on Monday. Trump told reporters late on Sunday that it was “OK with me” that Republicans were working on legislation to impose … Read more
By Shariq Khan, Anna Hirtenstein and Dmitry Zhdannikov LONDON, Nov 17 (Reuters) – U.S. oil major Chevron (CVX.N) is studying options to buy global assets of sanctioned Russian oil firm Lukoil (LKOH.MM), five sources familiar with the process told Reuters on Monday. The U.S. Treasury gave clearance last week to potential buyers to talk to … Read more
Summary US Treasury says sanctions are squeezing Mscow’s revenue Russian oil loadings at Novorossiysk resume after Ukraine attack Oil prices to fall next year, says Goldman Sachs (Reuters) – Oil prices steadied on Tuesday, regaining ground after early losses, as traders weighed the impact of Western sanctions on Russian oil flows against an expected supply … Read more
The catalyst for the brighter outlook is the newly expanded Trans Mountain oil pipeline Canada’s oil sands are experiencing a comeback after years of living in the shadow of United States shale. Crude output is climbing to new highs, the nation’s top producers are seeing their shares soar and interest in the industry is rising among U.S. institutional investors. … Read more
(Reuters) – Venture Global said on Monday it had asked the U.S. Federal Energy Regulatory Commission for permission to more than double the capacity of its Plaquemines liquefied natural gas export facility under development in Louisiana. The company wants to add 30 million metric tons per annum (mtpa) of additional LNG capacity to the previously … Read more
(Reuters) – Oil prices are expected to decline through 2026, Goldman Sachs said on Monday, citing a production surge that will keep the market in a large surplus of around 2 million barrels per day. The bank forecast Brent crude will average $56 a barrel and WTI $52 in 2026, below current forward curves of … Read more
(Reuters) – U.S. oil and natural gas drilling activity has continued to decline even as production reaches record highs, the U.S. Energy Information Administration (EIA) said on Monday. The EIA said the average number of active rigs in the Lower 48 has fallen from 750 in December 2022 to 517 in October 2025, reflecting operators’ … Read more
By John Ainger Luiz Inácio Lula da Silva, during the COP30 Leaders Summit on Nov. 6. Photographer: Dado Galdeiri/Bloomberg The thousands of protesters who brought traffic to a halt Saturday in the Brazilian city of Belém implored leaders to act faster to tackle global warming. As United Nations climate talks enter their critical second week, … Read more
By Elena Mazneva The global market could absorb a record wave of new supply of liquefied natural gas, but much depends on net zero policies and renewables growth, the International Energy Agency said. The IEA said it revised up overall gas demand in its World Energy Outlook published Wednesday, but “questions still linger about where … Read more
As COP30 kicks off its second week in Brazil, much has changed since the landmark Paris climate agreement was penned 10 years ago. The spirit of cooperation that once reigned has been shattered by economic rivalries and a stark divergence in climate policies among the world’s biggest polluters. The landmark UN COP21 climate agreement signed … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by 1 to 549 in the week to November … Read more
Summary Russia’s Novorossiysk port has resumed oil loadings US plans sanctions on nations doing business with Russia Speculators increase ICE Brent net longs on supply risks (Reuters) – Oil prices dipped slightly on Monday as loadings resumed at Russia’s Novorossiysk export hub after a two-day suspension at the Black Sea port that had been hit … Read more
A visit by Saudi Arabia’s de facto ruler to the White House for talks on Tuesday with U.S. President Donald Trump aims to deepen decades-old cooperation on oil and security while broadening ties in commerce, technology and potentially even nuclear energy. It will be the first trip by Crown Prince Mohammed bin Salman to the … Read more
Venture Global said on Friday that following Shell’s recent loss in arbitration over liquefied natural gas (LNG) supply claims, an International Chamber of Commerce panel has issued an award ordering Shell to pay its legal fees. “Venture Global looks forward to putting these proceeds toward our coastal restoration efforts along the Gulf of America,” a … Read more
(Reuters) – Activist investment firm Kimmeridge Energy Management has taken a stake in U.S. shale producer Devon Energy, according to a stock market filing released on Friday. THE DETAILS Kimmeridge owned 5.66 million shares in Devon as of the end of September, the filing said. That would equate to an approximately 0.9% stake in Devon, … Read more
Summary Brent, WTI settle up more than 2% Both benchmarks rise on the week Russian port of Novorossiisk halt oil exports Investors weigh impact of Western sanctions on Russian oil (Reuters) – Oil prices settled more than 2% higher on Friday as Russia’s port of Novorossiisk halted oil exports following a Ukrainian drone attack that … Read more
(Reuters) – Goldman Sachs expects global oil demand to grow to 113 million barrels per day in 2040 from 103.5 mbpd in 2024, driven by rising energy needs and ongoing challenges in low-carbon technology and infrastructure, the Wall Street bank said on Thursday. “We expect solid annual average demand growth of 0.9 mbpd in 2025-2030, … Read more
U.S. liquefied natural gas plants could take on as much as 40 billion cubic feet of natural gas per day in coming years, Cheniere Energy Chief Commercial Officer Anatol Feygin said on Friday. U.S. plants are currently using a record 18 bcfd of natural gas to produce LNG, according to data from financial firm LSEG. … Read more
(Reuters) – Brent crude could rise above $85 per barrel if Russian exports fall sharply, Barclays said, well above the bank’s previous forecast of $66 per barrel for 2026. In late October, U.S. President Donald Trump imposed Ukraine-related sanctions on Russia’s largest oil companies, Lukoil and Rosneft, in Washington’s toughest measures against Russian business during … Read more
(Reuters) – Saudi Aramco is set to sign two U.S. liquefied natural gas supply deals with Woodside Energy and Commonwealth LNG when Saudi Arabia’s Crown Prince Mohammed bin Salman visits Washington next week, sources familiar with the matter told Reuters. The world’s largest oil exporter, Saudi Aramco, wants to become a major liquefied natural gas … Read more
‘A lot of major work has taken place in the past five years, getting everything put together … This announcement gets us so very close to the finish line’ This Article & More by Chris Varcoe Here Natural gas producers in Western Canada watched closely as the Carney government added the Ksi Lisims LNG … Read more
Project Expected to Create 500 Construction Jobs, Spur Local Economic Development Will Help Meet Rising Electricity Demand from Growing Economy and AI/Data Center Innovation NEW YORK–(BUSINESS WIRE)–Blackstone (NYSE: BX), through funds affiliated with Blackstone Energy Transition Partners (collectively, “Blackstone Energy Transition Partners”), today announced a $1.2 billion investment to build Wolf Summit Energy (“Wolf Summit”), a … Read more
(Reuters) – Spain’s biggest refinery operator Repsol SA is considering a reverse merger of its upstream unit with potential partners, including U.S. energy producer APA, Bloomberg News reported on Thursday, citing people with knowledge of the matter. APA shares were up 7.1% at $25.59. Repsol in 2022 entered into a deal to sell a 25% … Read more
Summary Brent, WTI jumped more than 2% earlier and pared gains Port of Novorossiysk halted oil exports on Friday Ukraine attack damages ship, homes, oil depot in Russian port LONDON, Nov 14 (Reuters) – Oil prices climbed more than 1% on Friday, boosted by supply fears after the Black Sea port of Novorossiysk halted oil … Read more
(Reuters) – The Trump administration on Thursday finalized its rollback of Biden-era limits on oil and gas drilling in an Alaska area that is the nation’s largest tract of undisturbed public land. The move is consistent with President Donald Trump’s goal to reduce restrictions on domestic oil and gas development, particularly in resource-rich Alaska. Biden’s … Read more
(Reuters) – U.S. natural gas futures rose to their highest level since March on Thursday, supported by stronger liquefied natural gas (LNG) exports and forecasts for colder-than-normal weather in December. Front-month gas futures for December delivery on the New York Mercantile Exchange moved 10.8 cents higher, or 2.4%, to $4.64 per million British thermal units … Read more
(Reuters) – U.S. crude stocks rose while gasoline and distillate inventories fell last week on stronger demand, the Energy Information Administration said on Thursday. Crude inventories rose by 6.4 million barrels to 427.6 million barrels in the week ended November 7, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.96-million-barrel … Read more
The oil giant is pushing for a new carbon accounting method, which worries climate advocates but shows Exxon is sticking with its emission-reduction goals despite Trump’s attacks on low-carbon energy By Akshat Rathi and Kevin Crowley When you’re one of the biggest polluters, you have a vested interest in how pollution is counted. That is … Read more
Around 1.4 million barrels per day of Russian oil, or almost a third of the country’s seaborne exporting potential, remain in tankers as unloading slows due to U.S. sanctions against Rosneft and Lukoil, JPMorgan said on Thursday. The U.S. set a November 21 deadline to wind down all dealings with Rosneft and Lukoil, in the … Read more
A jump in natural gas costs has spurred several U.S. utilities to lift coal power output and cut back on gas-fired generation so far this year, reversing a years-long trend of lower coal use and emissions in the country While the trend has been a national phenomenon, six states – Arkansas, Indiana, Michigan, Ohio, South … Read more
European Union lawmakers backed further cuts to the bloc’s corporate sustainability law on Thursday, following months of pressure from companies and some governments demanding the EU weakens its rules. The European Union’s corporate sustainability due diligence directive (CSDDD) was adopted last year and requires companies to fix human rights and environmental issues in their supply … Read more
Washington’s $80 billion investment in nuclear reactors won’t yield carbon-free power anytime soon. By Will Wade The control room at the Three Mile Island nuclear power plant in Middletown, Pennsylvania. Photographer: Michelle Gustafson/Bloomberg After a generation of stagnation, interest in US nuclear energy is sky high, thanks to artificial intelligence’s voracious energy needs. Nuclear companies … Read more
(Reuters) – U.S. oil production is expected to set a larger record this year than previously forecast, even as global oil supply outpaces fuel demand, the Energy Information Administration said in its Short-Term Energy Outlook report on Wednesday. The Department of Energy’s statistical arm expects U.S. oil output to average 13.6 million barrels per day … Read more
Summary API shows rise in weekly US crude, sources say OPEC report says oil supply will match demand in 2026 IEA says oil, natural gas demand to grow through 2050 (Reuters) – Oil prices edged up on Thursday, taking a break after major losses in the previous session, as investors weighed concerns about global oversupply … Read more
The liquefied natural gas market is bracing for a surge in supply next year, largely from top exporter the United States, but what is less certain is just how low spot prices will have to drop to clear the additional volumes. Global supply of the super-chilled fuel is expected to rise to 475 million metric … Read more
The energy watchdog says it’s possible global oil consumption could keep increasing through the middle of the century. By Grant Smith For several years, one of the world’s top oil forecasters seemed sure that demand growth would soon plateau. That certainty is fraying. On Wednesday, the International Energy Agency in Paris — founded in the … Read more
When warnings abound about an imminent collapse in oil prices, one would not expect the CEO of a major oil company to boast that he has never been more confident. Yet that was precisely the message conveyed in Chevron’s updated strategy, unveiled by CEO Mike Wirth on Wednesday. He shrugged off concerns about oversupply in … Read more
(Reuters) – From Egypt to Kazakhstan, the foreign assets of Russian oil major Lukoil are attracting potential bidders as time runs out to clear deals before U.S. authorities enforce sanctions. The U.S. has hit Lukoil with sanctions as part of its effort to bring the Kremlin to peace talks over Ukraine, and has already blocked … Read more
(Reuters) – BP is in active talks with investment firm Stonepeak over the sale of its Castrol lubricants unit, two people with knowledge of the situation said, in what would be a major step in meeting the energy company’s $20 billion goal. KEY DETAILS Both Stonepeak and private equity firm One Rock made bids for … Read more
By Kevin Crowley Chevron Corp. chose West Texas as the site of its first project to provide natural gas-fired power to a data center, the beginning of a new line of business for the oil giant to capitalize on the boom in artificial intelligence. The company is in exclusive talks with the data center’s end … Read more
By Elena Mazneva The global market could absorb a record wave of new supply of liquefied natural gas, but much depends on net zero policies and renewables growth, the International Energy Agency said. The IEA said it revised up overall gas demand in its World Energy Outlook published Wednesday, but “questions still linger about where … Read more
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