Brazil has logistical and commercial flexibility to preserve the competitiveness of its oil on the international market if the 50% tariff announced by U.S. President Donald Trump on Wednesday comes into effect on August 1, experts told Reuters. Oil is the main product on Brazil’s export list to the U.S. and until now was exempt … Read more
*Trump budget sharply reduces planned spending of SPR purchases *Emergency stocks at 56% of capacity *Trump has vowed to fill storage ‘right to the top’ By Ron Bousso LONDON, July 10 – U.S. President Donald Trump’s signature budget bill slashed funding for refilling U.S. emergency oil reserves, violating his previous vow to fill them “right … Read more
(Reuters) – Argentina has filed notice that it is appealing a U.S. court ruling that ordered the country to give up the 51% stake it holds in state energy company YPF, according to a court filing from Thursday. The notice, filed in the U.S. District Court in the southern district of New York, appeals a … Read more
(Reuters) – U.S. natural gas futures climbed on Thursday on a smaller-than-expected storage build, rising gas flows to liquefied natural gas export plants and forecasts for hotter-than-normal weather over the next two weeks than previously expected. Front-month gas futures for August delivery on the New York Mercantile Exchange rose 10.3 cents, or 3.2%, to $3.317 … Read more
OKLAHOMA CITY–(BUSINESS WIRE)–Mach Natural Resources LP (NYSE: MNR) (“Mach” or the “Company”) today announced it has entered into two separate definitive agreements: one to acquire certain oil and gas assets from Sabinal Energy, LLC (“Sabinal”), and another to acquire entities owning oil and gas assets managed by IKAV Energy Inc (collectively “IKAV San Juan”). The … Read more
By Kevin Crowley and Nathan Risser Chevron Corp. is reducing local and regional business units in favor of a more centralized model to improve performance and cut as much as $3 billion of costs by 2026. A single offshore division will operate assets in the US Gulf, Nigeria, Angola and Eastern Mediterranean while shale assets … Read more
By Will Kennedy OPEC has excluded five of the world’s leading news organizations from covering its biennial oil seminar in Vienna, attended by the group’s ministers and senior industry executives. The Organization of the Petroleum Exporting Countries did not accredit Bloomberg News, despite repeated requests, and offered no explanation for its decision. The New York … Read more
By Gavin Maguire LITTLETON, Colorado, July 10 (Reuters) – Utilities across the European Union cranked output from natural gas and coal-fired power plants during the opening half of 2025, boosting power sector emissions and reversing recent energy transition momentum. The upswing in fossil production follows two years of steep declines in fossil use within the … Read more
OPEC+ is discussing a pause in further production increases from October after its next monthly hike, according to delegates familiar with the matter. While conversations are at an early stage and no firm decisions have been taken yet, Saudi Arabia and its partners already have a tentative plan to complete the revival of a 2.2 … Read more
Summary OPEC says peak demand is not in sight OPEC expects demand to grow for longer than other forecasters Demand growth is slowing in China (Reuters) – OPEC cut its global oil demand forecasts for the next four years on Thursday as Chinese growth slows, even as it lifted its longer-term view, based on rising … Read more
Summary Texas grid relies increasingly on solar and wind power State reduces blackout risk with battery storage Big fossil fuel dependent grid PJM doing worse on cost and reliability (Reuters) – President Donald Trump claims that rapid adoption of solar and wind power has made U.S. electricity unstable and expensive, justifying his bid to end … Read more
APA Corp said on Wednesday it curtailed about 10 million of cubic feet per day (MMcfpd) of U.S. natural gas production and 750 barrels per day of U.S. natural gas liquids output during the second quarter due to weak prices. `-The U.S. oil and gas producer also completed the sale of its New Mexico assets … Read more
(Reuters) – Norway’s Equinor has discovered gas in the Skred prospect near the Johan Castberg field in the Barents Sea, the Norwegian Offshore Directorate said on Thursday. Preliminary estimates indicate a discovery of between 0.3 billion and 0.5 billion standard cubic metres of recoverable gas equivalent, corresponding to between 1.9 million and 3.1 million barrels … Read more
Summary Threat of 50% tariffs on Brazil, copper cloud growth outlook Weaker dollar, U.S. gasoline demand growth provide support OPEC+ actual output unlikely to rise much, even with quota increases – analysts (Reuters) – Oil prices edged lower on Thursday as investors weighed the potential impact of U.S. President Donald Trump’s tariffs on global economic growth. Brent crude … Read more
(Reuters) – Oil giant Saudi Aramco is in talks with Commonwealth LNG to buy liquefied natural gas from the U.S. company’s facility in Cameron, Louisiana, as it seeks to strengthen its position in the superchilled fuel market, four people told Reuters on Wednesday. Talks are for 2 million tons per annum (mtpa), two of the … Read more
By Stephanie Kelly EIA lowers its 2025 oil production forecast to 13.37 million bpd Geopolitical tensions influence Brent crude price forecast US oil demand to rise slightly in 2025 vs 2024, EIA reports NEW YORK, July 8 (Reuters) – The U.S. will produce less oil in 2025 than previously expected as declining oil prices have … Read more
By Aimee Donnellan and Karen Kwok DUBLIN/LONDON, July 9 (Reuters Breakingviews) – A good tradesperson picks the right tool for the job. That’s not the approach Donald Trump is taking to his retooling of the American economy. The U.S. president floated 200% and 50% tariffs on drugs and copper respectively. But the outcome of hammering … Read more
(Reuters) – Russia has confiscated assets worth 3.9 trillion roubles, or around $50 billion at current exchange rates, over the past three years, underscoring the scale of the transformation into a “fortress Russia” economic model, the Kommersant newspaper said. Foreign companies have grappled with the risk of state seizure since Russia sent troops into Ukraine … Read more
(Reuters) – U.S. natural gas futures fell about 4% to a six-week low on Wednesday on low cash prices, an increase in output so far this month and higher-than-normal amounts of gas in storage. That price decline occurred despite a drop in gas output in recent days and forecasts for the weather to remain hotter … Read more
(Reuters) – The United States imposed sanctions on 22 companies in Hong Kong, the United Arab Emirates and Turkey on Wednesday for their roles in helping sell Iranian oil, the Treasury Department said. The oil sales benefit Iran’s Islamic Revolutionary Guard Corps’ Quds Force, Iran’s most powerful paramilitary organization, it said. The U.S. has designated … Read more
(Reuters) – U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 7.1 million barrels to 426 million barrels in the week ended July 4, the EIA said, compared with analysts’ expectations in a Reuters poll for a 2.1 million-barrel draw. Crude … Read more
(Reuters) – The Kremlin, asked on Wednesday about U.S. President Donald Trump’s criticism of Russian President Vladimir Putin, said that Moscow was “calm” regarding the criticism, and that it would continue to try to fix a “broken” U.S.-Russia relationship. In a call with reporters, Kremlin spokesman Dmitry Peskov said: “We are quite calm about this.” … Read more
By Robert Cyran NEW YORK, July 9 (Reuters Breakingviews) – One fact dominates the U.S. economy: it needs more power. After a long period in which demand for electrons flatlined, it is now rising again. Beyond gigantic data centers essential to artificial intelligence, the rise of battery technology, factory robots and more means that everything … Read more
Summary UAE says stocks not rising despite production increases OPEC+ close to completing voluntary cut unwinding Still has 3.65 mln bpd of other cuts in place OPEC+, majors meet for biennial seminar VIENNA, July 9 (Reuters) – Markets are thirsty for oil because they are absorbing OPEC+ production increases without building inventories, United Arab Emirates … Read more
Summary Electricity bills projected to surge over 20% in PJM territory this summer PJM criticized for delaying auctions and pausing new plant applications Pennsylvania governor threatens to leave PJM if it can’t reduce costs and connect power plants faster (Reuters) – America’s largest power grid is under strain as data centers and AI chatbots consume … Read more
July 8 (Reuters) – The Trump administration said it permitted a proposed coal mine in Claiborne County, Tennessee on Tuesday under an expedited process aimed at accelerating federal environmental reviews of energy projects. In a statement, the Department of the Interior said it granted approval for Hurricane Creek Mining LLC to mine coal on Bryson … Read more
In the oil and gas industry, maintaining operational integrity and worker safety is non-negotiable. Gas leaks, mechanical failures, and partial discharges not only jeopardize safety but also impact uptime and profitability. At Microwatt, we’re committed to equipping our clients with leading-edge tools to detect these risks early—before they become costly incidents. The Sorama CAM iV64s … Read more
When you are one of North America’s most trusted suppliers of pressure vessel components for the energy sector, there is no room for compromise in forming precision. Edmonton Exchanger, a family-owned Canadian company celebrating its 50th anniversary this year, is known for high-quality heavy steel components (up to 12² thick) customized for pressurized transfer and … Read more
The U.S. Interior Department on Monday proposed rule changes to allow energy companies to more easily combine oil and gas output from multiple leases using the same well pad, which could save the industry as much as $1.8 billion per year, it said. The proposed rule change, which would mostly affect onshore oil and gas … Read more
Summary Rescue mission underway in latest Red Sea attack Trump copper tariffs steeper and sooner than expected UAE energy minister: markets absorbing OPEC+ output boosts US EIA data on inventories due at 1430 GMT (Reuters) – Oil prices rose on Wednesday, maintaining their highest levels since June 23, lifted by attacks on shipping in the … Read more
By Scott Disavino July 8 (Reuters) – U.S. power consumption will hit record highs in 2025 and 2026, the U.S. Energy Information Administration said in its short-term energy outlook on Tuesday. The EIA projected power demand will rise to 4,189 billion kilowatt hours in 2025 and 4,278 billion kWh in 2026, up from a record … Read more
By Ron Bousso OPEC+ to increase output target by 2.5 million bpd between April and September Saudi has large spare production while others produce at capacity Riyadh’s share of global oil production declined to 11% in 2024 from 13% LONDON, July 8 – Saudi Arabia’s drive to rapidly increase OPEC+ oil output may put Riyadh … Read more
Clyde Russell (Reuters) – Two questions stand out after the decision by OPEC+ to accelerate increases in crude oil output: who is going to buy the extra crude, and will the group actually export the additional barrels they say they are going to produce? OPEC+ agreed at a weekend meeting to raise production by 548,000 barrels per … Read more
By Timothy Gardner WASHINGTON, July 8 (Reuters) – Fermi, a Texas company looking to build four nuclear plants next to a U.S. nuclear weapons complex, said in documents revealed on Tuesday that it is talking with large data managers on leasing agreements for the project. Fermi, co-founded by Rick Perry, a former U.S. energy secretary, … Read more
By Doug Alexander and James Attwood Copper futures in New York surged after US President Donald Trump said he planned to implement a 50% tariff on imports of the commodity, a move that’s likely to spark massive supply-chain ripples through global metal markets. Contracts on the Comex climbed as much as 17% on Tuesday, a … Read more
By Scott Disavino US could produce less oil in 2025 than previously expected OPEC+ to raise production by 548,000 barrels per day in August Markets unsettled by uncertainty over Trump tariffs NEW YORK, July 8 (Reuters) – Oil prices edged up to a two-week high on Tuesday as positive U.S. economic news, lower U.S. oil … Read more
Venture Global exported more liquefied natural gas (LNG) cargoes from its Plaquemines export facility in Louisiana and earned more than double in fees compared with its other U.S. plant, a company filing showed on Monday. The LNG company exported 51 cargoes from Plaquemines at an average liquefaction fee of $7.09 per million British thermal units … Read more
Reuters – Exxon Mobil signaled on Monday that lower oil and gas prices could cut its second-quarter earnings by about $1.5 billion from the previous quarter’s level. The earnings snapshot from the largest U.S. oil producer is closely watched for clues on how the broader oil sector will fare when companies begin releasing quarterly results in … Read more
Summary OPEC+ to raise production by 548,000 barrels per day for August Trump’s tariffs create uncertainty about global economy Saudi Arabia contributes most to OPEC+ supply hike, analysts say (Reuters) – Oil prices retreated on Tuesday after rising almost 2% in the previous session as investors assessed new developments on U.S. tariffs and a higher-than-expected OPEC+ … Read more
(Reuters) – U.S. power outages could double in five years if suppliers fail to add capacity during peak demand, the Department of Energy said on Monday. “Blackouts could increase by 100% in 2030 if the U.S. continues to shutter reliable power sources,” DOE noted in a report on grid reliability and security. It cited green … Read more
Reuters) – U.S. President Donald Trump on Monday directed federal agencies to strengthen provisions in the One Big Beautiful Bill Act that repeal or modify tax credits for solar and wind energy projects. In an executive order, Trump said the renewable energy resources were unreliable, expensive, displaced more dependable energy sources, were dependent on foreign-controlled … Read more
The final “Big Beautiful Bill” failed to truly terminate solar/wind subsidies. But there is still the opportunity to do so, along with making other crucial changes to electricity policy. By Alex Epstein In my last post I summarized the terrible last-second change the Senate made regarding the IRA subsidies: “The Senate bill looks like it has … Read more
Ever since OPEC+ stunned oil markets by opening the taps three months ago, traders have tried to divine the cartel’s motives. Clarity may soon be at hand. On Saturday, Saudi Arabia and its partners agreed to further accelerate plans for reviving crude production, despite signs of an impending oversupply in world markets. The full rationale remains opaque. … Read more
(Reuters) – U.S. natural gas output and demand will both rise to record highs in 2025 before sliding in 2026, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO) on Tuesday. EIA projected dry gas production will rise from 103.2 billion cubic feet per day (bcfd) in 2024 to 105.9 bcfd … Read more
(Reuters) – Chevron is laying the groundwork to swiftly close its planned acquisition of smaller oil producer Hess, according to two sources and an industry analyst, including by preparing a severance program for some Hess workers. The preparations come as both companies await a decision in a legal challenge from larger rival Exxon Mobil that … Read more
Shell Plc expects second-quarter results to be negatively impacted by a weaker performance from its oil and gas trading operation, with earnings from the division expected to be “significantly lower” quarter-on-quarter. The company’s shares declined to a four-week low following the announcement, with European peers BP Plc and TotalEnergies SE also falling. Shell’s trading update … Read more
Summary OPEC+ to agree another 550,000 bpd hike for Sept -sources OPEC+ to complete unwinding of 2.17 mln bpd cut UAE to complete output boost in line with new quota Output jump since April set to be 2.47 mln bpd or 2.5% of global demand (Reuters) – OPEC+ oil producers are set to approve another … Read more
By Reuters (Reuters) – Malaysia’s state energy firm Petronas on Monday said it has successfully shipped its first liquefied natural gas (LNG) cargo to Japan from its newly operational LNG facility in Kitimat, Canada. Petronas has a 25% stake in the Kitimat LNG plant in British Columbia on Canada’s west coast. The shipment departed for Japan … Read more
By David Shepardson July 3 (Reuters) – It is the end of the line for U.S. electric vehicle tax credits. Sweeping tax and budget legislation approved by Congress on Thursday means $7,500 tax credits for buying or leasing new electric vehicles will end on September 30, as well as a $4,000 used EV credit, that … Read more
Author: Carter Morrison As methane detection strategies evolve, operators are turning to an expanding range of technologies to support both regulatory compliance and voluntary emissions reduction goals. A common debate in this space is whether aerial surveys are “finding more” emissions than traditional ground-based Leak Detection and Repair (LDAR) methods. The answer is more nuanced … Read more
By EXRobotics B.V. Adapted by Microwatt Controls Ltd. As global regulations tighten and satellite surveillance of methane intensifies, energy operators face growing pressure to reduce fugitive emissions or risk steep penalties and even operational shutdowns. ExRobotics’ robots are engineered to meet this challenge head-on. Purpose-built for methane leak detection and VOC monitoring in hazardous hydrocarbon … Read more
In the fast-paced industries of oil and gas, construction & mining, the need for skilled labor is constant, yet project fluctuations often create periods of intermittent employment for workers. Recognizing this gap and offering a solution that benefits both companies and skilled professionals, Sideworx Connect has made its mark as a premier recruitment agency in … Read more
Summary OPEC+ to raise output by 548,000 bpd in August Goldman expects a final 550,000 bpd OPEC+ hike for September US higher tariffs to take effect on August 1 (Reuters) – Oil on Monday shrugged off the impact of OPEC+ hiking output more than expected for August as well as concern about the potential impact … Read more
Summary First meeting since Israel, US attacks on Iran OPEC+ began accelerating output hikes in May OPEC+ returns most cuts of 2.2 mln bpd back to the market (Reuters) – OPEC+ agreed on Saturday to raise production by 548,000 barrels per day in August, further accelerating output increases at its first meeting since oil prices … Read more
Summary US refiners shift to domestic output, reducing fuel oil imports Running heavy crude preferred over high-sulphur fuel oil due to cost Middle East demand and Russian supply issues tighten fuel oil market (Reuters) – Fuel oil imports into the refinery hub on the U.S. Gulf Coast hit a record low in June as tighter … Read more
Low global oil stockpiles were a major motivating factor in prompting OPEC+ members to raise production by 548,000 barrels per day in August at the group’s meeting on Saturday, the Russian government said in a statement. The group, which pumps about half of the world’s oil, has been curtailing production since 2022 to support the … Read more
(Reuters) – A new oil pipeline to the British Columbia coast is highly likely to be included on a list of projects deemed to be of national importance to the Canadian government, Prime Minister Mark Carney told the Calgary Herald newspaper in an interview published on Sunday. “I would think given the scale of the … Read more
The US ambassador to Canada, Pete Hoekstra, is optimistic about trade talks between the US and Canada, believing a fair deal will emerge soon. The US and Canada have an existing trade pact, but the US has placed import taxes on Canadian products, prompting Canada to impose counter-tariffs on US-manufactured items. The two leaders have … Read more
Saudi oil giant Aramco is looking to sell up to five gas-fired power plants, three sources with knowledge of the matter told Reuters, part of a broader effort to free up funds that could generate tens of billions of dollars. The potential sale of four or five gas-fired plants that power refineries could alone raise … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a 10th week in a row for the first time since July 2020, energy services firm Baker Hughes said in its closely followed report on Thursday. The oil and gas rig count, an early indicator of future … Read more
Venture Global Inc., a major US exporter of liquefied natural gas, is raising concerns about sharing a common waterway with a planned neighbor, highlighting a coming bottleneck for shipping space in the energy sector. The US is on track to nearly double its current LNG export capacity with six projects under construction in Texas and … Read more
The bill unplugs more than 300 gigawatts of wind and solar projects that would have been built through 2035, according to one analysis. By Brian Eckhouse As Donald Trump’s $3.4 trillion fiscal package moved through Congress, there was some relief in the renewables industry that a proposed excise tax on wind and solar projects had … Read more
By Amanda Stephenson Hodgson emphasizes private sector’s role in pipeline decision-making Pathways Alliance project crucial for pipeline approval Canada aims to diversify oil exports beyond U.S. reliance CALGARY, July 4 (Reuters) – Canada’s federal government has not been presented with any private sector proposal to build a new crude pipeline to the Pacific coast, the … Read more
By Amanda Stephenson OPEC+ expected to boost output in August Iran reaffirms commitment to nuclear nonproliferation treaty US tariff risks resurface as July 9 deadline looms (Reuters) – Oil futures slipped slightly in thin holiday trading on Friday, as the market looked ahead to this weekend’s OPEC+ meeting and the likelihood that member countries will … Read more
(Reuters) – Eight OPEC+ countries are likely to make another accelerated oil output increase for August at a meeting on Saturday, sources from the producer group told Reuters, as they seek to regain market share. The group, which includes Saudi Arabia, Russia, the UAE, Kuwait, Oman, Iraq, Kazakhstan and Algeria, is expected to agree to … Read more
(Reuters) – Saudi oil giant Aramco is looking to sell up to five gas-fired power plants, three sources with knowledge of the matter told Reuters, part of a broader effort to free up funds that could generate tens of billions of dollars. The potential sale of four or five gas-fired plants that power refineries could … Read more
Barclays on Thursday said it raised its Brent oil price forecast by $6 to $72 per barrel for 2025 and by $10 to $70 a barrel for 2026 on an improved outlook for demand. “Geopolitical tensions have eased as the U.S.-mediated ceasefire between Israel and Iran continues to hold and the risk premium has evaporated, … Read more
Germany’s cabinet has approved a bilateral agreement with the Netherlands to drill for natural gas at a protected marine site in the North Sea, aiming to bolster energy security. The project, led by Explorer One-Dyas BV, will extract up to 13 billion cubic meters of natural gas, equivalent to about 15% of Germany’s gas consumption … Read more
A tidal wave of new production — the biggest yet — could transform the market for the fuel.. After years of tight supply and wild price swings in the global gas market, there are signs of something different: too much of a good thing. LNG Canada, the Shell Plc-led project in British Columbia, just exported its … Read more
The arbitrators in a legal dispute between Exxon Mobil and Hess have reached a decision related to a major oilfield project in Guyana, according to two sources familiar with the matter. The ruling will determine whether Chevron can move forward with its $53 billion planned acquisition of Hess. The Paris-based International Chamber of Commerce, which … Read more
Summary Iran reaffirms commitment to nuclear non-proliferation treaty OPEC+ to announce August output hike on Sunday US tariff risks resurface as July 9 deadline looms (Reuters) – Oil futures fell slightly on Friday after Iran reaffirmed its commitment to nuclear non-proliferation, while major producers from the OPEC+ group are set to agree to raise their … Read more
By Timothy Gardner and Valerie Volcovici Bill cuts solar and wind tax credits, keeps nuclear and geothermal Energy Innovation projects 300 GW capacity fall due to bill Oil and gas industry praises bill for advancing energy dominance agenda WASHINGTON, July 3 (Reuters) – Advocates of clean energy on Thursday decried the final passage of President … Read more
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By Erik Wasson, Steven T. Dennis and Maeve Sheehey (BGOV) US Speaker of the House Mike Johnson presides over the vote for H.R. 1, the One, Big, Beautiful Bill Act in the House of Representatives at the US Capitol in Washington, DC, on July 3. Photographer: Chip Somodevilla/Getty Images President Donald Trump secured a sweeping shift in … Read more
By Nicole Jao Pause on US tariffs set to end on July 9 OPEC+ expected to raise output by 411,000 bpd US crude inventories rise unexpectedly NEW YORK, July 3 (Reuters) – Oil prices fell slightly on Thursday as the possibility of U.S. tariffs being reinstated raised questions about demand ahead of an expected supply … Read more
By Salma El Wardany, Grant Smith, and Fiona MacDonald OPEC+ has begun discussing another 411,000 barrel-a-day production increase for August ahead of the group’s video-conference this weekend, according to delegates who asked not to be identified. Saudi Arabia and its partners have previously approved hikes of the same size for May, June and July as … Read more
(Reuters) – U.S. liquefied natural gas (LNG) exporter Venture Global Inc announced on Thursday that Petronas has agreed to buy 1 million metric tons of LNG from its CP2 project, its first new CP2 customer in two years. A mere startup three years ago, Venture Global has quickly moved to become the U.S.’ second largest … Read more
(Reuters) – Activity in the U.S. oil and gas sector in Texas, Louisiana and New Mexico contracted slightly in the second quarter of 2025, the Dallas Fed survey showed on Wednesday, as firms grappled with a jump in steel tariffs. The decrease comes after U.S. President Donald Trump, who has encouraged U.S. producers to “drill, … Read more
The United States imposed sanctions on Thursday against a business network that smuggles Iranian oil disguised as Iraqi oil, as well as sanctions targeting a Hezbollah-controlled financial institution, the Treasury Department said. The network of companies run by Iraqi businessman Salim Ahmed Said has been buying and shipping billions of dollars worth of Iranian oil … Read more
ARLINGTON, Va.–(BUSINESS WIRE)–Today, Venture Global, Inc. (NYSE: VG) announced the execution of a new 20-year Sales and Purchase Agreement (SPA) with PETRONAS LNG Ltd. (PLL), a subsidiary of the Malaysian state-owned oil and gas company, PETRONAS. Under the terms of the SPA, PETRONAS will purchase 1 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from … Read more
Golden Pass LNG, which is owned by Exxon Mobil and QatarEnergy, has asked U.S. regulators for permission to re-export liquefied natural gas from October 1, as the export plant nears production after previous delays. The company said it wants to re-export a cargo of LNG that it plans to import to cool down its export … Read more
By Bruno Venditti Companies with the Most Fossil Fuel and Cement CO2 Emissions This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources. Key Takeaways Half of the world’s fossil fuel and cement carbon dioxide emissions in … Read more
(Reuters) – U.S. crude oil and gasoline inventories rose unexpectedly last week as both exports and demand fell sharply, the Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 3.8 million barrels to 419 million barrels in the week ending June 27, the EIA said, compared with analysts’ expectations in a Reuters poll … Read more
(Reuters) – The U.S. has cleared the way for Enterprise Products Partners to resume ethane shipments to China, the company said on Wednesday, revoking a restrictive license requirement that was put in place just weeks ago as the U.S.-China trade war turned from tariffs to supply chains. The U.S. had placed new restrictions on ethane … Read more
Summary Pause on US tariffs set to end on July 9 OPEC+ expected to raise output by 411,000 bpd US crude inventories rise unexpectedly (Reuters) – Oil prices fell slightly on Thursday as the possibility of U.S. tariffs being reinstated raised demand concerns ahead of an expected supply boost by major producers. Brent crude futures … Read more
(Reuters) – The budget bill the U.S. Senate passed on Tuesday and the House of Representatives is now debating for final approval would dampen development of wind and solar power, kill climate funding and boost oil, gas and coal output. Below are some details about the bill’s provisions on energy development and the environment: SOLAR, … Read more
Everything you may want to know about global energy but were afraid to ask By William Lacey This time of year is a highlight for me as my inner nerd gets to have a who pile of data to look at. In the past BP used to do its annual statistical review of global energy, … Read more
(Reuters) – Total oil futures and options lots traded on the Intercontinental Exchange (ICE) hit record highs in the second quarter, as U.S. President Donald Trump waged a trade war and geopolitical conflicts in the Middle East escalated. WHY IT’S IMPORTANT Significant volatility in the second quarter had global benchmark Brent crude futures dropping to … Read more
(Reuters) – U.S. net imports of crude oil rose to 4.6 million barrels per day (bpd), its highest since June 2024, data from the Energy Information Administration showed, as export tumbled due to a narrow spread between U.S. West Texas Intermediate crude and Brent. Net imports rose by 2.94 million bpd in the week to … Read more
Crude shipments from key Middle East producers reached a two-year high in June. By Julian Lee Oil producers in the Middle East boosted crude shipments by 1 million barrels a day last month. But don’t worry: They say they’re not embarking on another free-for-all like the one we witnessed just before the Covid-19 pandemic crushed demand. The … Read more
(Reuters) – TotalEnergies has sold 50% of its portfolio of renewable assets in Portugal and bought a half of AES’s renewable energy portfolio in the Dominican Republic, it said on Wednesday. The Portuguese assets were sold to a consortium composed of MM Capital Partners 2, Daiwa Energy & Infrastructure and Mizuho Leasing for 178.5 million … Read more
Summary Senate bill complicates new wind, solar projects Bill could lead to higher utility bills, job losses House urged to improve usability of wind, solar tax credits (Reuters) – The U.S. Senate’s massive budget bill that passed on Tuesday will make it harder to develop wind and solar energy projects, despite the removal of some contentious provisions, industry … Read more
U.S. President Donald Trump said on Tuesday that he plans to fill up the U.S. strategic petroleum reserve when the market conditions are right.
Brent crude will likely retrace to around $60 per barrel by early next year, with the market being well supplied and geopolitical risk abating following the Israel-Iran de-escalation, Morgan Stanley said in a note on Monday. The bank added it sees robust supply growth from non-OPEC countries over 2025-26 in the order of 1 million … Read more
President Donald Trump is championing a revival of American fossil fuels with calls to “drill baby drill.” But in the US energy capital, a pullback in the industry has already left its mark. Houston office buildings once packed with oil executives, engineers and energy traders are now marked by darkened floors and fewer desks. A wave of … Read more
By Dorothy Neufeld | Graphics/Design by Sabrina Lam Visualizing the Countries With the Largest Proven Oil Reserves This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources. Key Takeaways With 303 billion barrels in proven oil reserves, Venezuela leads globally. Saudi Aramco … Read more
Bloomberg News US diesel demand, a closely watched measure of the country’s economic health, was higher in April than early weekly estimates, the Energy Information Administration said in its monthly report. Distillate fuel oil demand was 3.88 million barrels a day in April, according to the agency’s latest Petroleum Supply Monthly report released Monday. That is 4.7% higher than early estimates published … Read more
Summary Iran suspending cooperation with IAEA boosts geopolitical risk premium: analyst Weaker US dollar supportive of oil prices Up next: official US crude inventory report from EIA at 1430 GMT (Reuters) – Oil futures edged up on Wednesday as Iran suspended cooperation with the U.N. nuclear watchdog and markets weighed expectations of more supply from … Read more
The budget bill passed by the U.S. Senate on Tuesday slashes the amount of money available to replenish the Strategic Petroleum Reserve even though President Donald Trump vowed on his first day in his second term to fill it “right to the top”. Former President Joe Biden conducted several sales from the SPR including 180 … Read more
U.S. liquefied natural gas exports fell to their second lowest monthly level for the year in June, as maintenance work at some of the country’s largest export facilities hurt output, according to preliminary data from financial firm LSEG. The United States, the world’s top exporter of LNG, sold 8.4 million metric tons of the superchilled … Read more
(Reuters) – Global imports of liquefied natural gas (LNG) ticked higher in the first half of 2025 as stronger European demand pulled cargoes away from Asia. Total imports of the super-chilled fuel were 208.62 million metric tons in the first six months of this year, up 1.7% from the 205.11 million for the same period … Read more
Major Canadian Oil Site Vents Most Gas Since 2021 Due to Wildfire Cenovus Energy Inc.’s Christina Lake oil-sands site vented 151,511 cubic feet a day of natural gas into the atmosphere in May, the most in over four years, due to an emergency shutdown caused by a wildfire. The shutdown was prompted by a wildfire … Read more
(Reuters) – Norway’s Equinor and its partners have approved a 13 billion Norwegian crown ($1.29 billion) investment for the expansion of Johan Sverdrup, western Europe’s largest producing oilfield, the company said on Tuesday. The project is expected to increase recoverable volumes from the field by between 40 million and 50 million barrels of oil equivalent, Equinor … Read more
Canada’s first-ever LNG export cargo has been shipped from the country’s Pacific Coast en route to Asia, a spokesperson for the Shell-led LNG Canada said on Monday. The cargo was loaded onto the tanker Gaslog Glasgow from LNG Canada’s site in Kitimat, British Columbia, just over a week after the facility confirmed first production and … Read more
(Reuters) – Oil prices were slightly higher on Tuesday as investors assessed expectations that OPEC+ will announce an output hike for August at an upcoming meeting as well as trade negotiations. Brent crude was up 54 cents, or 0.8%, to $67.28 a barrel at 1133 GMT, while U.S. West Texas Intermediate crude was up 56 … Read more
The U.S. Senate’s proposed cuts to clean energy subsidies and the introduction of a new tax on wind and solar energy in its version of President Donald Trump’s tax and spending bill have drawn searing criticism from business and labor groups since they were unveiled over the weekend, with some arguing the moves could lead … Read more
The U.S. Supreme Court agreed on Monday to hear Enbridge’s bid to change the venue of Michigan’s lawsuit seeking to force the Canadian pipeline operator to stop operating a pipeline underneath the Straits of Mackinac, waterways linking two of the Great Lakes, over environmental concerns. The justices took up Enbridge’s appeal of a lower court’s ruling … Read more
U.S. crude oil production hit a record 13.47 million barrels-per-day in April, up from 13.45 million bpd in March, according to data released by the Energy Information Administration as part of its Petroleum Supply Monthly series. The EIA had previously estimated U.S. oil output at 13.49 million bpd in March. Total U.S. petroleum product supplied, … Read more
U.S. President Donald Trump issued a presidential permit on Monday authorizing South Bow to operate and maintain pipeline facilities at Cavalier County, North Dakota, at the U.S.-Canada border.This permit supersedes and revokes an earlier presidential permit issued in July 2020 when Trump was in office, according to the White House.
Argentina on Monday urged London’s High Court to pause enforcement of a $16 billion-plus United States court judgment over the expropriation of oil and gas company YPF, pending an appeal by the Argentinian government in the U.S. The South American republic was ordered in 2023 to pay minority shareholders around $16 billion resulting from its … Read more
U.S. natural gas futures fell more than 6% on Monday, pressured by mild weather that kept heating and cooling demand subdued, allowing for larger-than-usual storage injections. The front-month gas futures for August delivery on the New York Mercantile Exchange (NYMEX) were down 25.3 cents, or 6.8% to $3.49 per million British thermal units (mmBtu) by … Read more
Hedge funds sold energy stocks last week at the fastest pace since September 2024 and at the second-quickest clip in the last 10 years, as oil prices fell on easing Middle East tensions, a Goldman Sachs note seen by Reuters on Monday showed. Crude prices tumbled over $10 last week following a cease-fire between Israel … Read more
Mergers and acquisitions during the first half of this year were not what investment bankers had hoped for, but a burst of big deals in Asia and renewed optimism in U.S. markets could be paving the way for megadeals. Market uncertainties stemming from U.S. President Donald Trump’s trade war, high interest rates and broader geopolitical … Read more
U.S. energy companies are eying renewed opportunities to build natural gas pipelines to tap in to Appalachia shale formations in Pennsylvania, Ohio and West Virginia, buoyed by U.S. President Donald Trump’s pro-energy policies and expectations that demand for the fuel will rise in coming years. The U.S. is already the world’s top gas producer and … Read more
World shares held just below recent record highs on Monday as the revival of U.S./Canada trade talks helped risk sentiment, while the dollar dipped on the prospect of this week’s U.S. jobs data ushering in an earlier Fed rate cut. Canada on Sunday said it had rescinded its digital services tax in a bid to … Read more
Japan engages in “unfair” automobile trade with the United States and should increase its imports of U.S. energy resources and other goods to help reduce the U.S. trade deficit, President Donald Trump said in an interview broadcast on Sunday. Tokyo is scrambling to find ways to get Washington to exempt Japan’s automakers from 25% automobile … Read more
(The opinions expressed here are those of the author, a columnist for Reuters) *Israel halted gas exports to Egypt after start of war with Iran *Exports were resumed on June 23, but highlight Egypt’s gas supply challenges *Egypt gas production declined sharply in recent years, unlikely to recover soon By Ron Bousso LONDON, June 30 … Read more
Summary Canada halts digital service tax collection slated for Monday Canada hopes for economic deal with US by July 21 Trump had threatened more tariffs over tax (Reuters) – Canada scrapped its digital services tax targeting U.S. technology firms late on Sunday, just hours before it was due to take effect, in a bid to … Read more
(Reuters) – U.S. energy firms cut the number of oil and natural gas rigs operating for a fourth month in a row to the lowest since October 2021, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by … Read more
NEW YORK, June 27 (Reuters) – California’s energy regulator on Friday issued recommendations to Governor Gavin Newsom to support timely fuel imports and explore ways to retain operations at existing refineries in the state. Newsom had earlier this year asked the California Energy Commission to recommend changes to the state’s energy transition efforts, as it … Read more
(Reuters) – The latest version of the Senate’s massive budget bill that the Senate is racing through for a vote as soon as Saturday deals a fatal blow to the use of tax credits in place since 2005 to spur more wind and solar energy and would set a new tax on those projects for … Read more
Summary Benchmarks poised for repeat monthly gains of more than 5% OPEC+ plans could smother any upside in prices, says analyst Global demand outlook remains uncertain (Reuters) – Oil prices held steady on Monday as Middle East risks eased while a possible OPEC+ output increase in August and uncertainty over the global demand outlook weighed … Read more
(Reuters) – The world’s largest group of oil producers, OPEC+, is set to announce another big increase of 411,000 barrels per day in production for August as it looks to regain market share, four delegates from the group told Reuters. If the increase is agreed, it would bring the total rise in supply from OPEC+ … Read more
By Yogi Schulz Many oil and natural gas producers hesitate to explore the potential of artificial intelligence (AI) and implement AI applications. This article challenges these impediments with examples of successful AI use cases. Too busy to explore AI innovation Most producers have made many successful technical and operational choices. Some believe that looking around … Read more
Moratorium does little to improve marine safety while sending the wrong message to energy investors By Will Gibson Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The Port of Prince Rupert on the north coast of British Columbia. Photo courtesy Prince Rupert Port Authority In 2019, Martha Hall … 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
U.S. natural gas futures jumped about 6% to a one-week high on Friday as the amount of gas flowing to liquefied natural gas (LNG) export plants started to edge up as more plants exit spring maintenance reductions. On their first day as the front-month, gas futures for August delivery on the New York Mercantile Exchange … Read more
Summary Sources say OPEC+ planning 411,000 bpd output boost in August Brent, WTI down 12% this week, most since March 2023 No major supply disruption from Middle East crisis, analysts say (Reuters) – Oil prices edged up slightly on Friday, recovering from a midday drop into negative territory following a report that OPEC+ was planning … Read more
June 27 (Reuters) – U.S. energy company EQT (EQT.N) agreed to pay $167.5 million to settle a class action lawsuit filed by investors who claimed EQT overstated the benefits of its $6.7 billion merger with Rice Energy in 2017, according to a federal court filing on Thursday by the plaintiffs. Officials at EQT were not … Read more
President Donald Trump said he was ending all trade discussions with Canada after claiming the country moved to implement a digital services tax, and threatened to impose a fresh tariff rate within the next week. “Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately. We will let Canada … Read more
Fermi plans to partner on the “Hypergrid” project with Texas Tech University and said it will be launched on July 4. Perry, who also served as Texas governor, said that China is building 22 nuclear reactors while the U.S. is building none. “We’re behind – and it’s all hands on deck. We need to be … Read more
(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.) By Edward Chancellor LONDON, June 26 (Reuters Breakingviews) – To paraphrase Mark Twain, speculative bubbles don’t repeat themselves, but they often rhyme. The green technology boom that has imploded over the past three years is remarkably similar to the alternative energy bubble … Read more
Canada’s Senate passed a bill to fast-track approval for natural resource and infrastructure projects on Thursday despite opposition from Indigenous and environmental groups who have threatened protests and legal action. The bill’s passage and implementation are a test for Carney, who was elected in April promising to transform Canada’s economy in the face of what … Read more
June 26 (Reuters) – Texas Governor Greg Abbott announced on Thursday that the first Texas Energy Fund (TEF) loan agreement will be used to fund a 122 megawatt (MW) natural gas power plant in Texas. “Under the loan agreement, subject to customary financial closing procedures, total project costs are not to exceed $175 million, with … Read more
June 25 (Reuters) – The Trump administration is proposing to hold a sale of oil and gas drilling rights on 80 million acres (32.4 million hectares) in the Gulf of Mexico on December 10 with lower deepwater royalty rates, according to the U.S. Bureau of Ocean Energy Management. President Donald Trump issued an executive order … Read more
Summary Brent, WTI down 12% this week, most since March 2023 No major supply disruption from Mideast crisis, analysts say Lower US inventories lend some price support (Reuters) – Oil prices rose on Friday but were set for their steepest weekly decline since March 2023, as the absence of significant supply disruption from the Iran-Israel conflict … Read more
The U.S. will not complete scheduled deliveries of crude oil into the Strategic Petroleum Reserve until the end of the year due to maintenance, as much as seven months behind schedule, the Department of Energy said on Thursday. Former President Joe Biden’s administration scheduled 15.8 million barrels of deliveries to the SPR from January through … Read more
By Ruth Liao and Stephen Stapczynski Tokyo Gas Co. is in discussions with multiple US liquefied natural gas suppliers to secure a long-term purchase agreement, as rising energy demand leaves Japan increasingly dependent on the fuel source. Japan’s largest gas distributor is in talks with at least four companies over supply from projects dotting the … Read more
Options markets suggest the probability of a disruption of oil flows through the Strait of Hormuz is just 4% following the Iran-Israel ceasefire, Goldman Sachs analysts said in a note on Thursday. Fears that Iran could close the Strait of Hormuz after U.S. strikes on its nuclear facilities sent Brent crude futures to a high … Read more
By Mitchell Ferman and James Herron It’s been almost 25 years since BP Plc attempted to rebrand itself as “Beyond Petroleum” and adopt a more environmentally friendly image. But with a recent swing away from green energy toward its fossil fuel roots, “Back to Petroleum” might be a more appropriate tag line. The shift comes … Read more
By Brian Platt and Jacob Lorinc Tim Hodgson Photographer: David Kawai/Bloomberg As Prime Minister Mark Carney’s government prepares to plow forward on major new energy and infrastructure projects, his natural resources minister says he wants Indigenous groups to pursue large ownership stakes in them. “If we are serious about retooling our economy, then economic reconciliation … Read more
By Christoph Steitz Siemens Energy could further expand Charlotte plant if needed Taking long-term view on US market, CFO says Big US tariff hike would spark review of expected policy impact ERLANGEN, Germany, June 26 (Reuters) – Siemens Energy (ENR1n.DE) is expecting to start U.S. production of big industrial power transformers in 2027 and can … Read more
(Reuters) – A damaged unit of the South Pars refinery’s Phase 14, which was hit by Israel in its first strike on Iran’s oil and gas sector, has returned to operation, the Iranian state-run agency Nour News reported on Thursday. South Pars, the world’s biggest gas field, is located offshore in Iran’s southern Bushehr province … Read more
(Reuters) – Vessels near the Strait of Hormuz have been broadcasting unusual messages concerning nationality in a bid to avoid being attacked as doubts linger over the ceasefire between Israel and Iran, according to maritime risk analytics firm Windward and ship tracking data on Thursday. The signals have been used since conflict broke out between … Read more
By Jamie Mcgeever (Reuters) – As the first half of the year closes, financial markets are in limbo, waiting to see how the kaleidoscope of global trade deals will – or won’t – come together after July 9, when Washington’s pause on its “reciprocal tariffs” expires. But if investors are wrong-footed, which trades will be … Read more
The U.S. dollar is on course for its worst first half year since 1973, as it plummeted again on Thursday amid rising expectations for Federal Reserve easing and statements from President Donald Trump about his pick for the next Fed chair. I’ll discuss this and the rest of the market news below. Make sure to … Read more
By Reuters (Reuters) – Equinor and its partners Vaar Energi and Inpex Idemitsu will invest more than 21 billion Norwegian crowns ($2.08 billion) to develop Norway’s Fram South oil and gas field, the companies said on Thursday. Production is scheduled to start at the end of 2029, field operator Equinor said in a statement. “Fram South will … Read more
June 26, 202512:00 AM Globe Newswire Shell plc (“Shell”) statement re BP plc (“BP”) In response to recent media speculation Shell wishes to clarify that it has not been actively considering making an offer for BP and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer. … Read more
(Reuters) – Global carbon dioxide emissions from the energy sector hit a record high for the fourth year running last year as fossil fuel use kept rising even as renewable energy reached a record high, the Energy Institute’s annual statistical review of world energy showed on Thursday. WHY IT’S IMPORTANT The report’s figures highlight the … Read more
“As long as there are stories to tell, I would love to keep telling them,” co-creator Christian Wallace said. Now that Taylor Sheridan’s new show Landman has aired its season finale, fans are already eager to know if the Texas-set drama will be back for a second season on Paramount+. In March, the streamer officially confirmed a Landman season 2 after … Read more
(Reuters) – Shell denied that it was in talks to buy BP after the Wall Street Journal reported on Wednesday that the oil major was in early discussions over a takeover of its British rival. “No talks are taking place. As we have said many times before, we are sharply focused on capturing the value … Read more
Digitize legal land descriptions into precise, mappable boundaries for title validation and acquisition. Are you mapping land rights in ArcGIS Pro and often juggling vague legal descriptions, tight tolerance requirements, and the pressure for precision? If you are a GIS specialist, land surveyor, real estate developer, or land management professional, here’s a new way to … Read more
Summary Brent, WTI trading below their levels right before Iran-Israel conflict Market focus switching to fundamentals, analysts say Data shows US ‘driving season is in full swing’, ANZ says (Reuters) – Oil prices edged higher on Thursday as investors remained cautious about the Iran-Israel ceasefire and shifted their attention to market fundamentals after a stockdraw in … Read more
S&P Global Commodity Insights Raises 10-year Oil Sands Production Outlook for 4th consecutive year CALGARY, AB, June 24, 2025 /PRNewswire/ — S&P Global Commodity Insights has raised its 10-year production outlook for the Canadian oil sands. The latest forecast expects oil sands production to reach a record annual average production of 3.5 million b/d in 2025 (5% … Read more
(Reuters) – President Donald Trump said on Wednesday that the U.S. has not given up its maximum pressure on Iran – including restrictions on sales of Iranian oil – but signaled a potential easing in enforcement to help the country rebuild. “They’re going to need money to put that country back into shape. We want … Read more
U.S. crude oil, gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 5.8 million barrels to 415.1 million barrels in the week ending June 20, the EIA said, exceeding analysts’ expectations in a Reuters poll for a 797,000-barrel draw. Crude stocks at the Cushing, Oklahoma, delivery … Read more
BP has been the subject of takeover talks for several years due to its shares’ relative underperformance, but analysis of its disclosures shows the British energy firm may not be as cheap as its market valuation would indicate. BP says it has net debt of $27 billion – already more than some rivals – but … Read more
(Reuters) – U.S. product supplied of gasoline rose to 9.6 million bpd in the week ended June 20, the highest since December 2021, data from the Energy Information Administration showed on Wednesday. Product supplied, EIA’s measure of demand, rose 389,000 barrels per day last week, the biggest week-over-week increase since the end of June, the … Read more
Total Commitment from Chevron Now at 3.0 Million Tonnes Per Annum DALLAS–(BUSINESS WIRE)–Energy Transfer LP (NYSE: ET) today announced its subsidiary, Energy Transfer LNG Export, LLC (Energy Transfer LNG), has signed an incremental Sale and Purchase Agreement (SPA) with Chevron U.S.A. Inc. (Chevron) for additional LNG supply from its Lake Charles LNG export facility. The 20-year agreement … Read more
HOUSTON–(BUSINESS WIRE)–Woodside is pleased to announce the completion of the sell-down of a 40% interest in Louisiana LNG Infrastructure LLC to Stonepeak, a leading global investment firm specialising in infrastructure and real assets. The completion follows Woodside’s announcement on 7 April 2025 that it had signed an agreement with Stonepeak, enhancing Louisiana LNG economics and … Read more
With eight new entrants, bold moves into gas-rich basins and billions in fresh capital, this year’s list highlights how private operators are redefining the upstream landscape amid consolidation and volatility AUSTIN, Texas (June 25, 2025) — Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, has released its annual list … Read more
(Reuters) – The number of hydraulic fracturing crews and rigs operating in North Dakota was unchanged in June, even as oil prices have faced increased volatility in recent weeks, the state regulator said on Tuesday during a monthly briefing. There are currently 13 frac crews operating in the state and 32 rigs. Overall, U.S. energy … Read more
Below is an op-ed from John “Bunkie” Westerheide, Chief Revenue Officer of Kathairos Solutions, on the strategic future of American energy. It argues that in today’s global economy, true energy dominance must also mean emissions dominance. By any meaningful metric, energy dominance is synonymous with national power. In the 21st century, the United States’ position … Read more
By Gavin Maguire A drone view shows California’s largest battery storage facility, as it nears completion on a 43-acre site in Menifee, California, U.S., March 28, 2024. REUTERS/Mike Blake DENVER, June 24 (Reuters) – Rapid growth in the installation of batteries is upending power systems across the United States, with battery-deployed electricity volumes scaling new … Read more
By Clyde Russell (Reuters) – Crude oil’s sharp reversal of the Israel-Iran war premium shows the power of a few words from a key player to move the market, but in doing so it also masks the greater influence of those who stay largely silent. Global benchmark Brent futures plunged after U.S. President Donald Trump … Read more
(Reuters) – U.S. oil and gas producer Coterra Energy will hold its rig count steady at nine in the Permian Basin, CEO Tom Jorden said Tuesday, reversing earlier plans to scale back activity as the company grows more confident in the outlook for oil prices. In May, Coterra announced it would reduce its Permian activity … Read more
(Reuters) – The massive U.S. tax and budget bill being finalized by Congress cannot pass a provision that automatically enables offshore oil and gas projects to skip over the federal environmental review process unless it gets at least 60 Senate votes, the body’s parliamentarian said on Monday. This is among the latest provisions that have … Read more
(Reuters) – Iranian President Masoud Pezeshkian said Tehran was ready to resolve issues with the U.S. based on international frameworks, in comments in a phone call with Saudi Crown Prince Mohammed bin Salman, Iran’s official news agency IRNA reported on Tuesday. The call comes a day after U.S. President Donald Trump announced a ceasefire deal … Read more
Summary Report says US strikes failed to destroy Iran’s nuclear sites Prices settled at multi-week lows in previous session Markets now await US EIA data, US GDP and goods order data (Reuters) – Oil prices recovered a little on Wednesday after slumping earlier this week, as investors assessed the stability of a ceasefire between Iran and Israel, … Read more
(Reuters) – President Donald Trump said on Tuesday that China can continue to purchase oil from Iran after the U.S. bombed the OPEC member’s nuclear facilities and hoped that China would also buy “plenty” of it from the United States. “China can now continue to purchase Oil from Iran. Hopefully, they will be purchasing plenty … Read more
(Reuters) – Oil production in North Dakota fell 22,000 barrels-per-day (bpd) to 1,172,000 bpd in April, monthly data from the state Industrial Commission showed. The data was released on the North Dakota Industrial Commission’s monthly index report page and has been rounded to the nearest 5,000 barrels. It may differ slightly from the commission’s general … Read more
By Emily Chow and Marwa Rashad LNG Atlantic, Pacific freight rates hit highest since Oct 2024, Spark data shows Europe and Asia are now equally profitable for US cargo deliveries, analyst says Mideast tensions push shipping, insurance costs higher, trade sources say SINGAPORE/LONDON, June 24 (Reuters) – Shipping costs for liquefied natural gas cargoes have … Read more
As developing new data centers to power artificial intelligence (AI) becomes critically important, opportunity arises for industries to collaborate to support evolving infrastructure demands NEW YORK, June 24, 2025 /PRNewswire/ — As developing new data centers to power artificial intelligence (AI) becomes critically important, opportunity arises for industries to collaborate to support evolving infrastructure demands … Read more
Takeaways by Bloomberg AI Assets designed to fight climate change, such as renewable energy generation capacity, may lose access to insurance unless they’re adequately shielded from extreme weather events. Without steps to boost resilience, Europe’s clean-energy assets may face up to €270 billion in losses by 2050 and be relatively more exposed to extreme weather … Read more
Startup Gold H2 has successfully produced hydrogen from a depleted California oilfield, and it’s looking to finalize other pilots around the world. Bloomberg Microbes can break down everything from methane to plastic. Now, a startup is pioneering their use to consume oil and produce clean hydrogen. Houston-based Gold H2 has completed a field trial at a retired oilfield … Read more
Alberta Premier Danielle Smith expects a private-sector firm to propose a new oil pipeline to the British Columbia coast within weeks. The pipeline would reduce producers’ reliance on the US market and allow them to fetch higher prices for their oil, and Smith hopes it will be one of the first projects on the Canadian … Read more
US shale oil producers are unlikely to increase production in response to President Donald Trump’s call to “Drill, Baby, Drill” and will instead prioritize hedging contracts to lock in revenue. Companies are wary of being caught off guard by another false start in global crude markets and will not spend heavily on new drilling without … Read more
Summary Brent and WTI benchmarks down more than 3% US President Trump accuses both sides of violating ceasefire Analysts see less risk to Middle East oil supplies (Reuters) – Oil prices extended losses on Tuesday to hit a two-week low on what the market viewed as lower risk of supply disruptions in the Middle East, … Read more
Enbridge Inc. and Energy Transfer LP are gauging interest in increased pipeline capacity in Illinois to help rising Canadian oil sands production reach more markets in the Midwest and the US Gulf Coast. The Southern Illinois Connector project would transport up to 200,000 barrels of crude a day by reconfiguring and upgrading existing systems and … Read more
Canada and the United States have a chance to strike a new economic and defense relationship but nothing is assured, Canadian Prime Minister Mark Carney said on Monday. Last Monday, Carney said he had agreed with U.S. President Donald Trump that their two nations should try to wrap up talks on a new deal within … Read more
The war between Israel and Iran has raised concerns that Iran could retaliate by trying to close the Strait of Hormuz, the world’s most important oil chokepoint due to the large volumes of crude that pass through it every day. The U.S. military’s strike on three sites in Iran over the weekend has raised questions … Read more
The United States assesses that Iran could carry out retaliatory attacks targeting American forces in the Middle East soon, although the U.S. is still seeking a diplomatic resolution that would see Tehran forgo any attack, two U.S. officials said on Monday. One of the officials, who spoke to Reuters on condition of anonymity, said Iran’s … Read more
U.S. President Donald Trump expressed a desire on Monday to see oil prices kept down amid fears that the aftermath of the attacks on Iran’s nuclear facilities could cause them to spike. “Everyone, keep oil prices down, I’m watching! You’re playing into the hands of the enemy, don’t do it,” Trump wrote in all caps … Read more
Oil majors Eni, BP, and Total Energies operating in Iraqi oilfields have evacuated a number of their foreign personnel, Iraq’s state-run Basra Oil Company said in a statement on Monday.However, oil operations in Iraq’s southern oilfields have not been affected, with exports averaging 3.32 million barrels per day, two oil officials told Reuters. The measures … Read more
The amount of natural gas flowing to U.S. liquefied natural gas (LNG) company Cheniere Energy’s Sabine Pass export plant in Louisiana was on track to rise to a three-week high on Monday, according to data from financial firm LSEG. Energy traders said that expected increase in gas flows and a notice from Cheniere that the … Read more
Iran’s supreme leader sent his foreign minister to Moscow on Monday to ask President Vladimir Putin for more help from Russia after the biggest U.S. military action against the Islamic Republic since the 1979 revolution over the weekend. U.S. President Donald Trump and Israel have publicly speculated about killing Supreme Leader Ayatollah Ali Khamenei and … Read more
(Reuters) – Goldman Sachs flagged risks to global energy supply amid concerns over a potential disruption in the Strait of Hormuz that would lead to significant spikes in oil and natural gas prices, the bank said in a note dated Sunday. The bank estimated Brent crude could briefly peak at $110 per barrel if oil flows through the critical … Read more
Oil prices climbed to their highest in five months on Monday as fears grew over what conflict in the Middle East could mean for supplies. Summary Brent, WTI up 1% in volatile session Prices touched five-month high before turning negative, then recovering No oil supply disruption yet from US attack on Iran Fears Iran could … Read more
In a bid to defuse the conflict over Iran’s nuclear program, foreign ministers from Europe’s top three powers hurried to meet their Iranian counterpart on Friday in Geneva. Those hopes collapsed on Saturday when U.S. President Donald Trump ordered airstrikes on Iran’s three main nuclear sites, in support of Israel’s military campaign.“It’s irrelevant to … Read more
(Reuters) – Oil prices jumped on Monday to their highest since January as Washington’s weekend move to join Israel in attacking Iran’s nuclear facilities stoked supply worries. Brent crude futures rose $1.88 or 2.44% at $78.89 a barrel as of 1122 GMT. U.S. West Texas Intermediate crude advanced $1.87 or 2.53% at $75.71. Both contracts … Read more
Iran’s top security body must make the final decision on whether to close the Strait of Hormuz, Iranian TV said on Sunday, after parliament reportedly backed the measure in response to U.S. strikes on several of Tehran’s nuclear sites.Iran has in the past threatened to close the strait but has never followed through on the … Read more
The Shell-led LNG Canada project has produced the first liquefied natural gas for export from its facility in Kitimat, British Columbia, two people familiar with the startup of the plant told Reuters on Sunday. “At 4 a.m. local time LNG Canada started producing its first LNG,” one of the sources told Reuters. The facility is … Read more
(The opinions expressed here are those of the author, a columnist for Reuters.)*US strikes on Iran spur fear of disruption to Middle East oil exports *Iran able to block the Strait of Hormuz, has tried in the past *Disruptions likely to be met by swift response from US Navy By Ron Bousso LONDON, June 22 … Read more
U.S. President Donald Trump said he had “obliterated” Iran’s main nuclear sites in strikes overnight, in a major new escalation of conflict in the Middle East as Tehran vowed to reserve all options to defend itself.In Israel, which triggered the crisis by attacking Iran’s nuclear and military sites on June 13, retaliatory Iranian missile fire … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for an eighth week in a row for the first time since September 2023, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future … Read more
HOUSTON, June 20 (Reuters) – Marathon Petroleum continued assessing damage on Friday to the shut residual hydrotreating unit (RHU) at its 631,000-barrel-per-day Galveston Bay Refinery in Texas City, Texas, from a June 14 fire, said people familiar with plant operations. The assessment began after the fire on the 64,000-bpd RHU was extinguished on the night … Read more
Summary Oil futures rise on the week US imposes new Iran-related sanctions amid diplomatic efforts US oil and natural gas rig count falls for eighth straight week, first time since September 2023 EU abandons proposal to lower Russian oil price cap (Reuters) – Oil prices settled down on Friday as the U.S. imposed new Iran-related … Read more
By Andrew Chung Biden’s EPA let California set tougher emissions standards Supreme Court limited EPA regulatory powers in prior cases Justice Kavanaugh writes Supreme Court’s 7-2 ruling WASHINGTON, June 20 (Reuters) – The U.S. Supreme Court sided on Friday with fuel producers that had opposed California’s standards for vehicle emissions and electric cars under a … Read more
By Georgina Mccartney Hedging activity spikes as producers lock in higher prices US crude futures jump after Israel strikes Iran Oil producers need $65 a barrel on average to profitably drill HOUSTON, June 20 (Reuters) – Israel’s surprise attack on Iran last week had oil prices spiking which sent U.S. producers scrambling to lock in … Read more
By Nate Raymond Court finds EPA’s climate analysis arbitrary, sends rule back for review Environmental groups argue EPA used outdated study on emissions Judge Katsas dissents, calls rule deeply flawed June 20 (Reuters) – A federal appeals court declined to throw out the U.S. Environmental Protection Agency’s renewable fuel standards for 2023 to 2025 on … Read more
U.S. refinery crude oil processing capacity grew by nearly 40,000 barrels per day in 2024 to 18.4 million bpd, the U.S. Energy Information Administration said on Friday. Motiva Enterprises’ Port Arthur, Texas, plant became the largest single refinery by capacity at 640,500 bpd, passing Marathon Petroleum’s Galveston Bay Refinery in Texas City, Texas, according to … Read more
June 20 (Reuters) – The U.S. Treasury Department on Friday extended a general license protecting Venezuela-owned refiner Citgo Petroleum from creditors through December 20, the department’s website showed, opens new tab. Washington has protected the Houston-based company from creditors in recent years even amid a court-organized auction of shares in its parent company, PDV Holding. … Read more
By Alisa Odenheimer, Eltaf Najafizada, Akayla Gardner, and Samy Adghirni Talks aimed at de-escalating the week-long war between Israel and Iran got under way in Geneva on Friday after US President Donald Trump signaled he would give diplomacy a chance before deciding whether to intervene militarily. Iranian Foreign Minister Abbas Araghchi is meeting counterparts from … Read more
By Michael Nienaber, Suzanne Lynch, and Kamil Kowalcze The European Union shelved a plan for a stricter price cap on Russian oil exports over concerns that the US won’t back tougher sanctions due to rising crude prices. The EU has proposed lowering the cap to $45 per barrel from the current $60, but oil’s surge … Read more
The reactor building at the Bushehr nuclear power plant in Bushehr, Iran, in a handout image supplied by the Iran International Photo Agency. Photographer: Iran International Photo Agency/Getty Images President Vladimir Putin said Russia sought and received assurances from Israel and the US that they’d ensure the safety of Russian staff working at Iran’s nuclear … Read more
By Andrew Mills and Marwa Rashad Qatar warns of risks to global gas supply A shutdown of Qatari production could cut 20% of global supply Asian LNG prices have risen by 11% on supply disruption concerns DOHA/LONDON, June 20 (Reuters) – Qatar held crisis talks this week with energy majors after Israeli strikes on Iran’s … Read more
By Parisa Hafezi, Crispian Balmer and Jana Choukeir Israel says it struck surface-to-air missile batteries in southwest Iran IAEA chief Grossi warns against attacks on nuclear facilities UN Secretary-General Guterres says conflict could ignite a fire nobody can control Russia and China call for an immediate de-escalation DUBAI/JERUSALEM, June 20 (Reuters) – Iran said on … Read more
By Georgina Mccartney HOUSTON, June 20 (Reuters) – Oil prices slipped on Friday as the U.S. imposed new Iran-related sanctions marking a diplomatic approach that fed hopes of a negotiated agreement, a day after President Donald Trump said he might take two weeks to decide U.S. involvement in the Israel-Iran conflict. Brent crude futures were … Read more
U.S. natural gas futures slipped on Friday but headed for its best week in more than a month, steered by forecasts for hotter weather that should boost the amount of gas power generators burn to keep air conditioners humming. Gas futures for July delivery on the New York Mercantile Exchange fell 2 cents, or 0.5%, … Read more
Canada’s Woodfibre liquefied natural gas project looks to be operational by 2028, Erin O’Brien, assistant deputy minister at Canada’s department of natural resources, said at an energy conference in Tokyo on Friday.O’Brien added that the project is poised to be the world’s first net-zero LNG facility. (Reporting by Yuka Obayashi in Tokyo and Emily Chow … Read more
Bloomberg Albert and Gordon Huddleston, part of the H.L. Hunt family, are in advanced talks to sell Aethon Energy Management’s assets to Mitsubishi Corp. for nearly $8 billion. The potential deal would mark a milestone for the father-son duo and their family’s legacy in the oil industry, which spans over a century and began with … Read more
U.S. and Chinese purchases for strategic oil reserves are expected to offset any potential global surplus, keeping oil prices in check, the head of the Russian oil producer Gazprom Neft said on Friday. The eight members of OPEC+, which groups OPEC and other producers led by Russia, are unwinding voluntary production cuts and have agreed … Read more
Brent crude oil is up around 20% so far in June, and set for its biggest monthly jump since 2020 as Israel/Iran tensions flare-up. Although relatively contained, the rise has not gone unnoticed just three years after Russia’s invasion of Ukraine triggered a surge in energy prices that ramped up global inflation and sparked aggressive … Read more
(Reuters) – Oil prices fell on Friday, but remained on course for a third consecutive weekly rise, after the White House delayed a decision on U.S. involvement in the Israel-Iran conflict. Brent crude futures fell $1.89, or 2.4%, to $76.96 a barrel by 1000 GMT. They were still set to gain nearly 4% on the … Read more
(Reuters) – U.S. crude oil stockpiles fell sharply last week, posting their largest decline in a year, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 11.5 million barrels to 420.9 million barrels in the week ending June 13, the EIA said, compared with analysts’ expectations in … Read more
June 19 (Reuters) – An escalation of the Iran-Israeli hostilities could keep Brent oil prices trading about 15% to 20% above pre-conflict levels if the war disrupts 1.1 million barrels per day (bpd) of Iranian oil exports, analysts at Citibank said on Thursday. “This implies Brent prices should be in the $75 to $78/bbl range,” … Read more
(Reuters) – JP Morgan believes that a Strait of Hormuz closure would likely trigger a sustained oil price shock that will reverberate through global macro developments, the bank said in a note. It said that in the most extreme case of a broader regional conflagration that includes the closure of Hormuz, it estimates oil prices … Read more
By Robert Harvey Iran’s crude exports averaging 2.2 million bpd this week, Kpler says Tankers are loading one-by-one at Kharg Island Floating storage is moving close to China to shield buyers from potential disruptions LONDON, June 19 (Reuters) – Iran is maintaining crude oil supply by loading tankers one at a time and moving floating … Read more
Russia, the United States and Saudi Arabia could act jointly to stabilise oil markets if needed, Russia’s investment envoy Kirill Dmitriev told Reuters. Oil prices surged on Thursday after Israel said it attacked Iranian nuclear sites in Natanz and Arak overnight and as investors grappled with fears of a broader conflict in the Middle East … Read more
Summary Chevron looking to sell refinery stake amid global restructuring Refinery partner PetroChina has first right of refusal on stake Chevron also gauging interest to sell other Asia assets Stake value estimated in $300 million to $500 million range SINGAPORE, (Reuters) – U.S. oil major Chevron has sought non-binding bids for the sale of its 50% … Read more
By Naureen S Malik and Mark Chediak Downed power lines following Hurricane Beryl in July 2024. Photographer: Mark Felix/Bloomberg Houston’s electric utility is confident significant grid investments will prevent a repeat of widespread blackouts that occurred last summer following Hurricane Beryl. CenterPoint Energy Inc. is integrating artificial intelligence to predict tree growth, using light detection … Read more
Saudi Energy Minister Prince Abdulaziz bin Salman, asked if the kingdom and Russia would step in to replace any potential loss of Iranian oil, said on Thursday that “we only react to realities”. The prince, speaking at an economic forum in St Petersburg, added that OPEC+ has been a reliable organisation.
Summary Brent and WTI benchmarks up more than $1 Trump unpredictability keeps investors on edge US crude stockpiles fall sharply (Reuters) – Oil prices rose on Thursday after Israel and Iran continued to exchange missile attacks overnight and U.S. President Donald Trump’s stance on the conflict kept investors on edge. Brent crude futures rose $1.06, … Read more
Shell Plc has contingency plans in case the conflict between Israel and Iran disrupts flows from the region, warning that a potential blockage of the Strait of Hormuz could deliver a substantial shock. About a quarter of the world’s oil trade passes through the Strait of Hormuz, which links the Persian Gulf to the Indian … Read more
Following the rise in Brent prices to $76-77 per barrel, Goldman Sachs estimates a geopolitical risk premium of around $10 per barrel, the bank said in a note on Wednesday. While its base case is that Brent declines to around $60/bbl in Q4 assuming no supply disruptions, Goldman said the $10/bbl premium appears justified in … Read more
Commonwealth LNG said on Wednesday it has received a final order from the Federal Energy Regulatory Commission authorizing its 9.5 million tonnes per annum liquefied natural gas export project on the Calcasieu Ship Channel in Louisiana. The FERC final order follows a conditional non-free trade agreement export authorization granted by the U.S. Department of Energy, … Read more
By Anna Shiryaevskaya and Verity Ratcliffe The Golden Pass LNG terminal under construction in Sabine Pass, Texas. Photographer: Callaghan O’Hare/Bloomberg A new breed of investors is expanding into liquefied natural gas, one of the world’s hottest commodities, offering billions of dollars for new projects and squeezing out established players. With financial firepower at their disposal … Read more
MILAN, June 18 (Reuters) – The CEO of Italian energy company Eni (ENI.MI) said on Wednesday oil markets are signalling that an escalation between Israel and Iran and the closure of the Strait of Hormuz is unlikely. About a fifth of the world’s total oil consumption passes through the Strait, which lies between Oman and … Read more
Canada could produce its first ever liquefied natural gas this weekend, from the LNG Canada export facility in Kitimat, British Columbia, two people familiar with the startup of the plant told Reuters on Wednesday. The facility, the first of a handful of Canadian LNG projects to begin production, will be the first LNG facility in … Read more
Developments in the Iran-Israel conflict in the next three to five days will be critical to global energy markets even though oil and gas supplies from the Gulf have not yet been disrupted, oil historian Daniel Yergin said on Wednesday. Iran and Israel launched new missile strikes at each other on Wednesday as the air … Read more
Energy majors are pouring money into gas exploration and production in Malaysia and Indonesia to meet rising power demand from growing populations and a proliferation of data centres in the region. The wave of investments come as European majors pivot back to more profitable conventional fuels as countries embark on different energy transition paths, while … Read more
By Kevin Crowley Chevron Corp. made its first foray into lithium with two acreage deals in northeast Texas and southwest Arkansas aimed at building a domestic “commercial scale” business. Chevron acquired 125,000 net acres from TerraVolta Resources LLC and East Texas Natural Resources LLC in the Smackover Formation, an underground rock formation that holds high … Read more
By Valerie Volcovici WASHINGTON, June 17 (Reuters) – A U.S. Senate panel proposed making the tax credit for capturing carbon emissions for recovering oil equal to the $85/metric ton tax credit for permanently burying those emissions underground, a boon for oil and gas producers. The finance committee proposed the change to the so-called 45Q tax … Read more
Nine in 10 current EV drivers indicated they would consider a similar purchase for their next vehicle Bloomberg News Electric cars are losing their appeal for new drivers in Western nations, even as existing owners report increasing satisfaction with their battery-powered vehicles, according to a survey conducted by Shell Plc. The findings show that high upfront cost … Read more
HOUSTON, (GLOBE NEWSWIRE) — Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) (collectively, “Plains”) announced today that it has executed definitive agreements with Keyera Corp. (TSX: KEY) (“Keyera”) pursuant to which Plains will sell substantially all of its NGL business to Keyera for a total cash consideration of approximately $5.15 Billion CAD ($3.75 … Read more
(Reuters) – ADNOC chief Sultan al-Jaber said on Tuesday the state oil company of the United Arab Emirates was looking to grow its U.S. energy investments six-fold to $440 billion in the next 10 years. “For us, the United States is not just a priority; it is an investment imperative,” Jaber told an audience at … Read more
Summary Trump’s bill proposes ending wind and solar incentives by 2028 Renewable projects like solar, wind, and batteries face shutdown risk Republican lawmakers from Utah, Alaska, N. Carolina, Kansas at odds over the rollbacks Red states capture 75% of IRA clean energy investments Utah clean energy investments total $3 bln, with $10 bln in announced … Read more
Summary Oil recovers early losses to extend previous session’s 4% gain Market fears potential Straight of Hormuz closure, analysts say Middle East conflict complicates Fed interest rate decision (Reuters) – Oil prices steadied on Wednesday, recovering early losses to register moderate gains after the previous session’s 4% advance as markets weighed up the chance of … Read more
By Allison Lampert and Oliver Griffin Global aviation sector strives for net zero emissions by 2050 Sustainable aviation fuel made from ethanol seen as one option Brazil ethanol producers fear US interference in UN’s SAF rules MONTREAL/SAO PAULO June 17 (Rtrs) – The U.S. is expected to object this month to a recommendation at the … Read more
By Mariana Durao and Gabriel Diniz Tavares Camila Borges, a representative for Exxon Mobil Corp., presents a bid during a public session of the Agencia Nacional do Petroleo (ANP) oil concession offer in Rio de Janeiro on June 17. Photographer: Dado Galdieri/Bloomberg Petrobras, Exxon Mobil Corp. and Chevron Corp. won exploration rights in Brazil’s Equatorial … Read more
The Senate’s tax bill would boost baseload electricity — including nuclear and geothermal power — while slashing incentives for intermittent sources. By Mark Chediak A cooling tower at a nuclear power plant in Middletown, Pennsylvania, in 2024. Photographer: Heather Khalifa/Bloomberg Senate Republicans would use their version of Donald Trump’s massive tax and spending bill to … Read more
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COMMENTARY: Fossil Fuels Show Staying Power as EU Clean Energy Output Dips – Maguire