Summary Oil prices set for weekly loss, IEA forecasts rising glut Trump and Putin plan summit on Ukraine, cease-fire halts fighting in Gaza Concerns mount over economic slowdown, lower energy demand (Reuters) – Oil prices managed small gains on Friday but still were part of a weekly loss of nearly 3% after the IEA forecast … Read more
(Reuters) – Oil, gas and coal will continue to dominate the world’s energy mix well beyond 2050, as soaring electricity demand outpaces the shift to renewables, according to a new McKinsey report. WHY IT’S IMPORTANT Continued use of fossil fuels poses a major challenge to achieving global net-zero climate targets. Electricity demand will rise mainly … Read more
U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by one to 548 in the week to October 17. Despite … Read more
By Erwin Seba Oil prices set for weekly loss, IEA forecasts rising glut Trump and Putin plan summit on Ukraine, cease-fire halts fighting in Gaza Concerns mount over economic slowdown, lower energy demand HOUSTON, Oct 17 (Reuters) – Oil prices managed small gains on Friday but were headed for a weekly loss of nearly 3% … Read more
The maritime industry accounts for over four-fifths of the world’s trade and more than one per cent of all emissions By Jack Wittels The world’s shipping regulator postponed a decision on adopting a landmark charge on vessel emissions, a shock move that highlights the Trump administration’s efforts to disrupt international climate diplomacy. The postponement marks … Read more
(Reuters) – A fire broke out at BP’s 440,000 barrel-per-day Whiting refinery in Indiana and was extinguished as of Friday morning, the company said. The fire resulted from an operational incident and there were no injuries, the company said in an emailed statement. It did not elaborate on the incident. Reuters earlier reported multiple units … Read more
U.S. and European pressure on Asian buyers of Russian energy could restrict India’s oil imports from December, leading to cheaper supplies for China, while Japan is unlikely to halt its Sakhalin liquefied natural gas shipments for now, trade sources and analysts said. Washington is exerting pressure on China, India and Japan through trade talks to … Read more
Summary Russian oil a top irritant in US-India trade talks India has pledged to boost US energy purchases India could cut Russian oil imports from Dec-Jan, sources say India is biggest buyer of Russian seaborne oil US says Russia uses oil revenue to fund war in Ukraine (Reuters) – India has halved its purchases of … Read more
(Reuters) – Manufacturers in North America and Europe are set to embark on starkly different power-source paths in the decades ahead, which could reshape the future prospects for goods producers on both sides of the Atlantic. In North America, natural gas is primed to remain the main power source for factories and production lines thanks … Read more
(Reuters) – Liquefied natural gas exporters in the U.S. have announced plans to more than double U.S. liquefaction capacity, adding an estimated 13.9 billion cubic feet per day (Bcf/d) by 2029, the U.S. Energy Information Administration said on Thursday. The EIA cited its Liquefaction Capacity File and trade press reports for the forecast, and added … Read more
(Reuters) – SLB beat Wall Street estimates for third-quarter profit on Friday, as steady demand in North America and contributions from its recent ChampionX acquisition helped offset weakening oilfield activity in other regions. The U.S. oilfield market appears to be stabilizing after months of reduced spending, but international demand, historically SLB’s major profit driver, remains tepid. … Read more
(Reuters) – U.S. crude stocks rose more than expected last week as refining utilization dropped sharply to its lowest in eight months, data from the Energy Information Administration showed on Thursday. Crude inventories increased by 3.5 million barrels to 423.8 million barrels in the week ended October 10, the EIA said, compared with analysts’ expectations … Read more
(Reuters) – U.S. liquefied natural gas producer NextDecade said on Thursday it had reached a positive final investment decision (FID) on the fifth liquefaction plant, known as a train, of its Rio Grande export project in Texas. Train 5 has the expected LNG production capacity of about 6 million tonnes per annum (MTPA), bringing the … Read more
(Reuters) – The Trump administration’s plans to cancel nearly $8 billion in Energy Department grants are illegal because contracts had already been signed and will cause consumer energy prices to skyrocket, the top Democrat on the U.S. Senate energy committee said. Earlier this month, the Energy Department canceled $7.56 billion in funding for clean energy … Read more
(Reuters) – The European Union has set a requirement for fuel importers into the bloc to prove their fuels are not made from Russian crude, according to a document published on Thursday. The document provides guidance on the EU’s upcoming ban on imports of fuels refined from Russian crude, part of its 18th sanctions package … Read more
By Maha El Dahan Qatar supplies 12%-14% of Europe’s LNG since Russia’s invasion of Ukraine Qatar’s energy min says calls to EU Commission go unanswered Changes proposed by EU lawmakers this week don’t address Qatar’s key concerns Oct 16 (Reuters) – Qatar will not be able to do business in the EU, including supplying Europe … Read more
By Aliaksandr Kudrytski and Olesia Safronova Russia attacked Ukraine’s natural-gas infrastructure overnight, dealing a fresh blow to output as President Volodymyr Zelenskiy prepares for talks in Washington. The Ukrainian leader is set to visit the US capital after Moscow ramped up strikes against his country’s energy facilities, knocking out nearly 60% of gas production this … Read more
By Stephen Stapczynski and Rong Wei Neo Blacklisted Russian liquefied natural gas shipments are poised to keep entering China as both countries seem prepared to circumvent the UK’s latest sanctions. The UK on Wednesday imposed restrictions on the Beihai LNG terminal in southern China, citing its imports of fuel from a sanctioned Russian facility. However, … Read more
Oct 16 (Reuters) – Nearly two dozen states are suing the Trump administration over its cancellation of a $7 billion grant program aimed at expanding solar energy in low-income communities, according to court papers. In a statement on Thursday, California Attorney General Rob Bonta announced two lawsuits by a group of states that received grants … Read more
(Reuters) – Kremlin spokesman Dmitry Peskov said on Thursday that Moscow was able to supply high-quality oil at lower prices to countries that U.S. President Donald Trump is trying to persuade to stop buying Russian oil. Peskov said that the principles of free trade would be violated if such countries were deprived of the right … Read more
EVs are no longer niche By Kyle Stock Americans bought 438,500 electric cars and trucks in the third quarter, as drivers raced to grab federal incentives before they expired Sept. 30. Those transactions, the highest number in a single quarter, comprised 11% of all new car sales, eclipsing the previous high point of 8.7%, according … Read more
By Ruth Liao and Stephen Stapczynski Energy Transfer LP has pushed back its targeted final investment decision for the proposed Lake Charles liquefied natural gas export project in Louisiana to the first quarter of 2026 from the end of this year, according to people familiar with the matter. The company cited rising costs and the … Read more
By Nidhi Verma India buys 90% of its LPG imports from the Middle East Indian refiners informed Middle East suppliers of a likely cut India wants to boost energy imports from the US NEW DELHI, Oct 16 (Reuters) – India plans to cut imports of liquefied petroleum gas from the Middle East as its state … Read more
By Marianna Parraga and Arathy Somasekhar Hearing next week to help judge decide the auction’s winner If bid confirmed, Amber would advance streamlining plan Dalinar, still fighting for a shot, would take advantage of Citgo’s strengths HOUSTON, Oct 16 (Reuters) – An affiliate of Elliott Investment Management wants to cut costs at Venezuela-owned Citgo Petroleum … Read more
With ongoing discussions about diversifying Alberta’s crude oil export routes, selecting the right destination port on British Columbia’s northern coast is critical. This analysis examines Prince Rupert as a prime candidate, highlighting why it stands out as the best choice for a new Alberta crude oil pipeline. Geographic and Logistical Advantages Prince Rupert is Canada’s … Read more
Here are some of the main parts of his speech. He spoke in Russian and his words were translated by Reuters. ON FUTURE OF OIL MARKET: “According to estimates, global oil demand this year will amount to 104.5 million barrels per day, more than a million more than last year. The main factors driving consumption … Read more
Ron Bousso Summary International Energy Agency expects heavy oversupply in oil market Agency however reports 1.5 million bpd of ‘unaccounted’ oil in August IEA bearish outlook clashes with OPEC forecasts (Reuters) – The International Energy Agency continues to forecast a significant supply glut in the oil market, but uncertainty over the whereabouts of almost 1.5 … Read more
Summary Trump said India will halt Russian oil purchases India said its goals are to ensure stable energy prices, secure supply Bessent told Japan Finance Minister that US expects Japan to stop importing Russian energy The UK announced new sanctions targeting Russian oil (Reuters) – Oil prices were stable on Thursday as market traders prepared … Read more
U.S. Treasury Secretary Scott Bessent said on Wednesday that he told Japanese Finance Minister Katsunobu Kato that the Trump administration expects Japan to stop importing Russian energy. “Minister Kato and I also discussed important issues pertaining to the U.S.-Japan economic relationship and the Administration’s expectation that Japan stop importing Russian energy,” Bessent said on X, … Read more
By Jack Queen Oct 15 (Reuters) – A federal judge in Montana on Wednesday threw out a lawsuit by youth activists seeking to block U.S. President Donald Trump’s pro-fossil fuel energy policies, finding he lacked the power to act. A group of young people represented by the nonprofit Our Children’s Trust sued in May, arguing … Read more
ROME, Oct 15 (Reuters) – A Ukrainian man suspected of coordinating the 2022 attacks on the Nord Stream gas pipelines will not be handed over to the German authorities for the moment after Italy’s top court on Wednesday upheld an appeal against his transfer, his lawyer said. The man, identified only as Serhii K. under … Read more
U.S. President Donald Trump said on Wednesday that Indian Prime Minister Narendra Modi has pledged to stop buying oil from Russia, and Trump said he would next try to get China to do the same as Washington intensifies efforts to cut off Moscow’s energy revenues. India and China are the two top buyers of Russian … Read more
(Reuters) – Bank of America on Wednesday said that if U.S.-China trade tensions intensify while OPEC+ production ramps up, Brent prices could slip below $50 a barrel. The bank maintained its Brent forecast at $61 a barrel for the final quarter of 2025 and $64 a barrel for the first half of 2026, citing a … Read more
(Reuters) – Trading firms have diverted at least five more crude oil tankers from a major port in eastern China after the U.S. imposed sanctions on an import terminal there, according to trading sources and shipping data. The U.S. sanctions have disrupted plans for the country’s refiners to unload their cargoes at the port of … Read more
By Olesya Astakhova and Vladimir Soldatkin Novak says OPEC+ key to long-term national interests OPEC head repeats call for investments in oil and gas Energy security key to climate action success, Saudi minister says Saudi minister sees Europe struggling with transition challenge MOSCOW, Oct 15 (Reuters) – Collective action within oil producer group OPEC+ is … Read more
NEW YORK, Oct 15 (Reuters) – U.S. households heated mainly by electricity will spend about 4% more this year to stay warm over the winter due to higher power price forecasts, the Energy Information Administration said on Wednesday in its winter fuels outlook report. Demand growth for electricity from data centers powering the AI boom, … Read more
Oct 15 (Reuters) – The Organization of the Petroleum Exporting Countries (OPEC) is moving to appoint “one of the top consultants” to visit member states and assess their production capacity in the coming months, Kuwait’s oil minister Tareq Al-Roumi said on Wednesday. OPEC+ ministers asked OPEC’s headquarters in May to develop a mechanism to assess … Read more
One of President Vladimir Putin’s top economic officials on Wednesday pushed back at U.S. President Donald Trump’s warning that the Russian economy was going to collapse amid lines for gasoline in some regions. Trump on Tuesday said that Putin should settle the Ukraine war which the 47th U.S. president said was making Russia look bad. … Read more
Rigs drilling beneath the deep waters of the Gulf of Mexico will drive U.S. oil industry growth this year and next as onshore production slows due to lower prices and maturing shale fields, and analysts and consultants expect the trend to continue as new technology and friendly regulations attract investment offshore. The offshore oil and … Read more
Gavin Maguire (Reuters) – The abrupt cuts to U.S. federal clean energy incentives alongside fresh support for coal and gas-fired power will trigger a swell in North America’s emissions in the coming decades as the U.S. generation mix remains fossil fuel reliant. Indeed, consultancy DNV projects that North America’s power emissions from 2025 to 2050 … Read more
Summary MidEast to Asia VLCC rate hit 2-week high on Monday China to charge about $15 million in port fees for US-linked VLCC, trader says Ships divert to Zhoushan after US sanctions Rizhao port (Reuters) – Supertanker freight rates surged this week and are set to stay elevated on U.S.-China tit-for-tat hikes in port fees … Read more
Summary OPEC head repeats call for investments in oil and gas Energy security key to climate action success – Saudi minister Saudi minister sees Europe struggling with transition challenge (Reuters) – The head of OPEC and the producer group’s most influential energy minister on Wednesday defended oil’s role in providing secure energy supplies, pushing back … Read more
A California judge on Tuesday sided with the state government and tentatively ruled against Houston-based oil company Sable Offshore’s request to restart a pipeline that pulls crude from the Santa Ynez offshore oil project. The tentative ruling from Judge Thomas Anderle in the Superior Court for Santa Barbara County marks a major setback for Sable, … 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
By Ruth Liao US natural gas futures dropped to the lowest in more than two weeks as forecasts for mild weather through late October indicated tepid demand for the heating fuel, with ample domestic stockpiles also weighing on the market. Gas flows to US LNG terminals ramped up to near record highs, however, providing some … Read more
Summary IEA expects 2026 oil supply surplus US-China trade tensions in focus for oil prices Analysts expect rise in US crude inventories, fall in gasoline and distillates (Reuters) – Oil prices steadied on Wednesday after closing at five-month lows in the previous session, as investors weighed the International Energy Agency’s prediction of a supply surplus … Read more
By Alastair Marsh and Will Mathis The US will struggle to generate the energy it needs to power growth in its tech industry without including wind and solar, according to JPMorgan Chase & Co.’s global head of sustainable solutions. “It’s difficult to conceive of a situation in which they won’t need to tap into those … Read more
By Andrea Jaramillo Colombia’s largest pipeline operator is seeking Ecopetrol SA’s cooperation on a proposed natural gas-import project intended to prevent shortages of the fuel. Transportadora de Gas Internacional is proposing a new liquefied gas terminal in the form of a floating storage and regasification unit, or FSRU, off the coast of northern La Guajira … Read more
Ukrainian long-range drones at an undisclosed location in February. Photographer: Evgeniy Maloletka/AP Photo The impact from Ukrainian drone strikes will suppress Russia’s refinery processing rates until at least mid-2026, the International Energy Agency says in its latest monthly oil-market report. Kyiv has been intensifying attacks on its foe’s energy infrastructure — including oil refineries, pipelines … Read more
By Grant Smith Evidence of a long-awaited supply overhang on global crude markets is becoming more tangible. This year’s long-anticipated oil surplus has taken so long to show itself that traders were starting to doubt it would ever arrive. The wait seems to be ending. While global supply has been exceeding demand at a brisk … Read more
By Foo Yun Chee BRUSSELS, Oct 14 (Reuters) – Abu Dhabi state oil firm ADNOC is set to secure EU approval for its 14.7-billion-euro ($17 billion) bid for German chemicals company Covestro, with EU regulators likely to seek tweaks to remedies provided earlier this month, sources with direct knowledge of the matter said. The European … Read more
Summary Most World Bank directors signed the statement Statement calls for continuing 45% pledge for climate finance IMF, World Bank preparing for annual meetings next week (Reuters) – Nineteen of the World Bank’s 25 executive directors issued a joint statement this week affirming their support for the bank’s continued work on climate change, defying the … Read more
Alphabet Inc’s Google will invest $10 billion to set up a massive data centre and artificial intelligence hub in Andhra Pradesh, officials from the southern Indian state said, marking its biggest such investment in the South Asian nation. Google will build a 1-gigawatt data centre campus in the port city of Visakhapatnam, combining AI infrastructure, … Read more
The executives of two oil companies warned this week that tariffs resulting from the U.S. administration’s trade policies were driving up costs across the energy production chain and affecting investment decisions. TotalEnergies CEO Patrick Pouyanne told the Energy Intelligence Forum in London on Tuesday that tariffs on steel were pushing up costs for liquefied natural gas … Read more
Summary OPEC’s forecasts had pointed to tighter market in 2026 OPEC leaves demand forecasts unchanged for 2025, 2026 IEA, which sees big 2026 surplus, to update view on Tuesday (Reuters) – World oil supply is expected to closely match demand next year as the wider OPEC+ group increases production, an OPEC report showed on Monday, … Read more
Summary Oil and fuel export revenues down to $13.35 billion in September Crude exports rise to 5.1 mln bpd, highest since May 2023 Oil product exports drop to 2.4 mln bpd, lowest since April 2020 Drones knocked out another 200,000 bpd of crude processing MOSCOW, Oct 14 (Reuters) – Russia’s revenues from crude oil and … Read more
Summary IEA expects global supply to rise by 3 million bpd in 2025 Trims demand growth forecast this year to 710,000 bpd Implied surplus to reach 4 million bpd in 2026 LONDON, Oct 14 (Reuters) – The world oil market faces an even bigger surplus next year of as much as 4 million barrels per … Read more
Canada’s secret energy advantage: long life, no decline By Stewart Muir Oil and gas fields almost everywhere face natural decline. Shale wells lose about 70 per cent of their output in the first year. Many conventional reservoirs also taper off, often in the range of 5 to 7 per cent annually, though actual decline rates … Read more
Front-month U.S. crude oil futures ended Monday’s trading at their smallest premium since January 2024 over the seventh-month contract, as OPEC+ ramps up supply while seasonal refinery maintenance in the U.S. pressures demand for prompt barrels. Narrowing backwardation, the market term for immediate deliveries fetching a premium over later deliveries, suggests investors are making less … Read more
Summary Brent crude futures, WTI both fall 1.6% IEA raises its forecast for global oil supply growth this year IEA also lowers its demand growth forecast LONDON, Oct 14 (Reuters) – Oil prices fell by more than 2% on Tuesday as trade tensions flare between the U.S. and China, the world’s two biggest economies, and … Read more
(Reuters) – The global oil market will tighten in the medium to longer term, a range of oil industry executives said in London this week, maintaining optimism despite a near-term glut driven by rising output. Production decline rates, which could accelerate as prices fall, will help to rebalance the oil market as longer-term demand is … Read more
Saudi Aramco can sustain crude oil production at 12 million barrels per day (bpd) for a year without incurring additional costs, Chief Executive Amin Nasser said on Monday. Saudi Arabia holds a substantial share of the world’s spare oil capacity – idle supply that can quickly be brought to market. Speaking at the Energy Intelligence … Read more
The recent surge in suspected Russian “hybrid warfare” incidents across Europe has put governments on high alert, raising questions about the vulnerability of the region’s energy infrastructure as the continent enters the critical winter heating season. Preventing sabotage of a massive energy network poses security and logistical challenges. But Europe’s leaders may need to start … Read more
The latest U.S. sanctions on a major Chinese crude oil terminal have forced refining group Sinopec to divert a supertanker and ask some plants to cut crude processing rates, according to ship tracking data and Chinese consultancies. A supertanker carrying oil to the Chinese port of Rizhao in Shandong province changed its destination over the … Read more
By Hugo Dixon (Reuters Breakingviews) – The Group of Seven says it wants to “maximise pressure on Russia’s oil exports”. If the rich industrialised nations are serious, they could slash Moscow’s income from overseas crude by up to $80 billion a year. That would deliver a big blow to the Kremlin’s flagging economy and might … Read more
U.S. energy major ExxonMobil sees a tighter oil market in the medium to longer term, particularly in the absence of further investments in unconventional oil and gas assets, Chief Executive Darren Woods said on Monday. Oil market oversupply is likely to be a short-term issue, with demand from emerging economies set to make meeting global … Read more
(Reuters) – Fuel suppliers are using European Union green jet fuel mandates to inflate costs for airlines through surcharges, nearly doubling prices compared to market rates, the head of airlines body IATA said in an interview calling for policy reform. The EU began requiring airlines to use more sustainable aviation fuel (SAF) this year, with … Read more
The energy sector continues its path through digital transformation. For decades, automation has been a cornerstone of operational efficiency, but artificial intelligence (AI), machine learning, advanced data analytics, and integrated data platforms are reshaping what’s possible. Control systems, once limited to facility level operations, have come a long way. Today’s systems are integrated with IT … Read more
By Verity Ratcliffe A looming surge in liquefied natural gas supply through the end of the decade is poised to create demand that won’t go away, said an Adnoc Gas executive. Prices of the super-chilled fuel are widely expected to drop as a number of LNG projects go online in the coming years, including Abu … Read more
Seatrium shares drop 6.5% after contract cancellation Maersk cites construction delays Seatrium considers legal action over contract termination Trump administration previously halted Empire Wind project work Oct 10 (Reuters) – Shipbuilder Seatrium (SEAT.SI) said Denmark’s Maersk (MAERSKb.CO) terminated a $475 million contract for a nearly finished offshore wind vessel that was intended to work on … Read more
Summary Brent and WTI rebound from 5-month lows China September crude imports rise 3.9% on year First Israeli hostages released from Gaza (Reuters) – Oil prices rose on Monday after hitting five-month lows in the previous session, as investors focused on potential talks between the presidents of the United States and China that could ease … Read more
Support from the Trump administration, rising energy demand and cheaper drilling methods are boosting lease prices of US public land for geothermal development. By Renata Carlos Daou For the first time in years, the US federal government has leased every parcel of public land it has opened for geothermal development — and at record prices. … Read more
(Reuters) – Venture Global’s loss in a massive arbitration case with BP is a black eye for the wider U.S. LNG industry, whose breakneck growth looks set to contribute to a global supply glut and far more headaches for investors. The U.S. LNG producer, which has a $30 billion market cap, operates some of the … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating, the first reduction 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 two to 547 in the … Read more
By Erwin Seba HOUSTON, Oct 10 (Reuters) – Exxon Mobil restarted the gasoline-producing fluidic catalytic cracking unit on Thursday at its 612,000-barrel-per-day Beaumont, Texas, refinery, people familiar with plant operations said. The 120,000-bpd FCCU was shut on Tuesday night by a malfunction, according to a notice the company filed with the Texas Commission on Environmental … Read more
By Erwin Seba Brent and WTI crude prices fall to levels last seen in spring Gaza ceasefire shifts focus to potential oil surplus OPEC production increases, U.S. output seen leading glut HOUSTON, Oct 10 (Reuters) – Brent and U.S. crude futures fell more than $2 a barrel, or more than 3%, on Friday as U.S. … Read more
China said on Friday that it would take necessary measures to protect the legitimate rights of Chinese enterprises and citizens in response to U.S. sanctions related to Iran’s oil trade that targeted a Chinese refinery. China urges the United States to stop resorting to sanctions, Guo Jiakun, a spokesperson for the foreign ministry, told a … Read more
European nations, including France, are among the staunchest supporters of Ukraine in its fight against Russia. Several have also stepped up their imports of Russian energy which pump billions of euros into Moscow’s wartime economy. Well into the fourth year of Russia’s war against Ukraine, the European Union remains in the precarious position of financing … Read more
By Javier Blas The conventional wisdom says liquified natural gas is the future of energy — bridging the gap between the world abandoning fossil fuels and renewable supplies coming online. But that rosy outlook faces a reckoning. LNG is threatened by a pincer movement involving, ironically, the two old and new sources it’s supposed to … Read more
By Curtis Williams Shell completed marine survey in Q2 to determine drilling locations, pipeline design First stage of new license allows parties to negotiate through April 2026 US companies must be included in the project Oct 9 (Reuters) – The U.S. government has granted an authorization to energy major Shell (SHEL.L) and Trinidad and Tobago … Read more
By Timothy Gardner Fourth round of US Iran sanctions that target a China refinery US also sanctions first Chinese petrochemical terminal Trump says would like Iran to be able to rebuild WASHINGTON, Oct 9 (Reuters) – The U.S. imposed sanctions on about 100 individuals, entities and vessels, including a Chinese independent refinery and terminal, that … Read more
The newly-expanded Trans Mountain pipeline is allowing oil producers to shift as much as 890,000 barrels a day to Asia Canadian heavy crude prices are entering the fourth quarter at their strongest level since July amid rising Asian demand for the heavy oil sands crude. Heavy Western Canadian Select’s price in Alberta was US$10.50 a barrel below United States benchmark … Read more
By Jason Chiu Axis Q196-LTE Overlooking Power Station Supervisory Control and Data Acquisition (SCADA) systems have been the workhorses of energy infrastructure for decade. They quietly collect data, monitor equipment, and help automate everything from grid operations to substation controls. But for all their strengths, SCADA systems have a critical blindspot: they can’t see what’s … Read more
A summary of Fossil Future, Chapter 2 By Alex Epstein This is the second of 11 “Alex Notes” on my book Fossil Future—like Cliff’s Notes, but actually written by the author. (Read the first one here.) Get Fossil Future (Also, for those who preordered Fossil Future or who are premium subscribers to this newsletter, I’m doing … Read more
(Reuters) – Oil prices declined on Friday, after settling around 1.6% lower in the previous session, as the market’s risk premium faded after Israel and Hamas agreed to the first phase of a plan to end the war in Gaza. Brent crude futures were down 66 cents, or 1%, at $64.56 a barrel at 1016 … Read more
Venture Global shares slumped 17% in premarket trading on Friday after BP won its arbitration case against the U.S. supplier over its failure to deliver liquefied natural gas under a long-term supply deal that was due to start in late 2022. The International Chamber of Commerce International Court of Arbitration found that it had breached … Read more
Summary Colonial informed employees of changes this week – statement Job cuts follow takeover of Colonial by asset manager Brookfield No operational impact from changes, Colonial says (Reuters) – The Colonial Pipeline Company, operator of the largest U.S. fuel transportation system, informed employees this week it is planning to cut some jobs, according to two … Read more
BP has won its arbitration case against Venture Global over the U.S. supplier’s failure to deliver liquefied natural gas under a long-term contract that was due to start in late 2022, Venture Global said on Thursday. The International Chamber of Commerce International Court of Arbitration found that Venture Global breached its obligations to declare commercial … Read more
HOUSTON, Oct. 9, 2025 /PRNewswire/ — Absolute greenhouse gas emissions from the Permian basin—one of the most prolific oil and gas fields in the world, responsible for 40% of total production in the United States—declined every year since 2022, even as production of oil and gas increased, according to a new analysis by S&P Global Commodity Insights. … Read more
Malibu, California, Oct. 09, 2025 (GLOBE NEWSWIRE) — Trio Petroleum Corp (NYSE American: TPET) (“Trio” or the “Company”), a California oil and gas company, today is pleased to announce that its wholly owned Canadian Subsidiary Trio Petroleum Canada, Corp. has received notice from the Alberta Energy Regulator (AER) that Trio meets all eligibility requirements outlined … Read more
Summary Orsted plans to cut 2,000 jobs by 2027 Danish company to focus more on offshore wind and Europe Reuters) – Orsted, the world’s biggest offshore wind farm developer, will cut about 2,000 jobs by the end of 2027, a quarter of its workforce, and will focus more on Europe after setbacks in the U.S. … Read more
Summary Ukraine has targeted Russia’s refining capacity Zelensiky says estimates range from 13%-20% loss of supply Russia says it has adequate fuel, officials due to discuss (Reuters) – Ukrainian long-range strikes on Russian energy facilities may have reduced gasoline supplies in Russia by up to a fifth, President Volodymyr Zelenskiy said, as both sides step … Read more
Lawmaker groups holding a majority in the European Parliament agreed a deal late on Wednesday to make deeper cuts to the EU’s corporate sustainability law The European Union’s corporate sustainability due diligence directive (CSDDD) was adopted last year and requires companies to fix human rights and environmental issues within their supply chains, or face fines … Read more
By Stephen Stapczynski and Ruth Liao The Golden Pass liquefied natural gas project in Texas, co-owned by QatarEnergy and Exxon Mobil Corp., is preparing to cool key equipment as it nears startup after months of delay. The facility purchased a so-called cool-down cargo for delivery in October or November, people with knowledge of the process … Read more
By Aref Mohammed And Ahmed Rasheed Iraq and Exxon sign non-binding deal Includes development, export upgrades, profit-sharing, sources say SOMO to secure Asian storage capacity with Exxon BAGHDAD, Oct 8 (Reuters) – Exxon Mobil (XOM.N) signed an agreement with Iraq on Wednesday to help it develop its giant Majnoon oilfield and expand oil exports, government … Read more
(Reuters) – U.S. total product supplied of oil and fuels, a proxy for demand, rose last week by 1.8 million barrels per day to 21.99 million bpd, the highest since December 2022, according to the U.S. Energy Information Administration’s (EIA) petroleum status report on Wednesday. Reporting by Nicole Jao
Summary Israel and Hamas agree to Gaza ceasefire, return of hostages US oil product supplied highest since December 2022, EIA says Stalled peace talks in Ukraine underpin prices LONDON, Oct 9 (Reuters) – Oil prices were little changed on Thursday as investors weighed a ceasefire deal in Gaza that could ease tensions in the Middle … Read more
(Reuters) – U.S. crude oil stockpiles rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 3.7 million barrels to 420.3 million barrels in the week ended October 3, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.9 million-barrel rise. … Read more
U.S. shale drillers are facing higher prices for tungsten, a rare, ultra-hard metal used for industrial tools like drillbits, as Chinese export controls have squeezed supply, threatening U.S. President Donald Trump’s ambitions to boost America’s fossil fuel production. Tungsten makes up as much as 75% of the drillbits deployed in oilfields. The metal’s price has … Read more
(Reuters) – ARM Energy Holdings said on Thursday it has reached a final investment decision on its $2.3 billion Mustang Express Pipeline project in Texas, along with its partner Pacific Investment Management Company. ARM, an energy marketing firm, said the project benefits from a long-term agreement with Sempra for shipment of natural gas for its Port … Read more
(Reuters) – Oil and gas firm APA Corp said on Wednesday it cut about 20 million of cubic feet per day (MMcfpd) of U.S. natural gas production and 1,400 barrels per day of U.S. natural gas liquids production in the third quarter due to weak prices. APA said net debt and free cash flow came … Read more
(Reuters) – Canadian Prime Minister Mark Carney raised the prospect of reviving the Keystone XL oil pipeline from Alberta to the United States during his Tuesday meeting with U.S. President Donald Trump, according to a source familiar with the discussions and a CBC News report on Wednesday. Carney, who is under increasing pressure in Canada … Read more
As countries around the world scramble to secure fuel to run their power plants, natural gas has attracted energy producers to Canada’s westernmost province. By Robert Tuttle and Thomas Seal Stretching from the ice-capped Canadian Rockies to the island-studded coastline, British Columbia has been long renowned as an outdoorsman’s paradise. Canada’s westernmost province is home … Read more
By Gavin Maguire LITTLETON, Colorado, Oct 8 (Reuters) – Texas’s main power generation system is on track for a rare contraction in fossil fuel-fired generation in 2025, as long as output from the state’s massive wind farms rises sharply as expected during the final quarter of the year. During the first nine months of 2025, … 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
Russia’s heavy bombardment of Ukraine’s natural gas infrastructure ahead of winter is set to have a knock-on impact on Europe’s energy market as Ukraine draws more fuel from its western neighbours. Any increase in European gas prices as a result of Ukraine’s purchases is nevertheless likely to be mitigated by the abundance of global liquefied … Read more
Summary EU considering phase-out of Russian oil and gas by January 2028 Ambassadors agree to forward proposal to ministers – diplomats Ministers’ meeting planned for October 20 (Reuters) – European Union countries’ ambassadors on Wednesday agreed to move ahead with the bloc’s plan to end Russian oil and gas imports by 2028, EU diplomats said, … Read more
Oct 8 (Reuters) – Cenovus Energy on Wednesday sweetened its offer to acquire MEG Energy raising the value of its proposed deal to C$8.6 billion ($6.16 billion), including debt, in an attempt to match a rival bid from Strathcona Resources. Cenovus raised its bid by C$2.35 to about C$29.80 per share, and said this … 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 4,191 billion kilowatt-hours in 2025 and 4,305 billion kWh in 2026, up from a record 4,097 billion kWh in 2024. Those demand … Read more
(Reuters) – U.S. natural gas futures jumped about 4% to an 11-week high on Tuesday on a drop in daily output and some technical short covering. Front-month gas futures for November delivery on the New York Mercantile Exchange rose 14.1 cents, or 4.2%, to settle at $3.498 per million British thermal units (mmBtu), their highest … Read more
(Reuters) – Oil prices climbed by over 1% on Wednesday, helped by a smaller than expected output hike from producer group OPEC+ next month, though concerns about oversupply capped further gains. Brent crude futures rose 82 cents, or 1.3%, to $66.27 a barrel by 0945 GMT. U.S. West Texas Intermediate crude climbed 85 cents, or … Read more
Commonwealth LNG has asked federal regulators for a four-year extension to construct and begin shipping liquefied natural gas from a proposed export facility in Cameron Parish, Louisiana, a regulatory document shows. In a letter to the Federal Energy Regulatory Commission, Commonwealth said the extension was needed due to an approval pause implemented by former U.S. … Read more
(Reuters) – The U.S. government is considering cancelling an additional $12 billion in clean energy funding, including awards for auto manufacturing and carbon capture, according to a list of targeted projects seen by Reuters. The projects on the list include two major direct air capture hubs that received billion-dollar awards from the administration of former … 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 (STEO) on Tuesday. EIA projected that dry gas production will climb from 103.2 billion cubic feet per day in 2024 to 107.1 bcfd in 2025 and 107.4 bcfd … Read more
Despite coming off a record quarter of vehicle deliveries, Tesla’s global sales have fallen around six per cent year-to-date Bloomberg News While the company started building a more affordable model in June, they opted to put off production until after the U.S. phased out up to US$7,500 federal tax credits. Photo by Mike Stewart/AP Photo/Postmedia files … Read more
(Reuters) – Chevron on Tuesday named a new head of global exploration as CEO Mike Wirth works to improve the company’s track record in discovering new sources of oil and gas. Kevin McLachlan will become vice president of exploration effective Nov. 1, succeeding veteran executive Liz Schwarze, who will retire in February after 36 years … Read more
Growing evidence that energy transition investments are enjoying a revival By Natasha White U.S. President Donald Trump may just have dubbed climate change the “greatest con job,” but there’s growing evidence that energy transition investments are enjoying a revival. Brookfield Asset Management said on Tuesday that it had raised US$20 billion for the world’s biggest … Read more
WARSAW, Oct 7 (Reuters) – It is not in Poland’s interest to hand over a Ukrainian man wanted by Germany for suspected involvement in explosions which damaged the Nord Stream gas pipelines, the Polish prime minister said on Tuesday. Donald Tusk said that ultimately it was for the court to decide whether Volodymyr Z., who … Read more
(Reuters) – China is building oil reserve sites at a rapid clip as part of a campaign to boost crude stockpiles that increased in urgency after Russia’s Ukraine invasion upended global energy flows and has accelerated this year, according to public data, traders and industry experts. State oil companies including Sinopec and CNOOC will add … Read more
(Reuters) – The U.S. is well stocked with propane heading into the winter, the U.S. Energy Information Administration said on Tuesday. For the week ending September 26, U.S. propane inventory was 103 million barrels, about 13 million barrels more than the previous five-year average for this time of year, the EIA said, citing data from … Read more
(Reuters) – Chevron said on Tuesday it was working to restart some of the processing units that were shut down due to a fire at its El Segundo refinery last week. “The refinery continues to operate and create transportation fuels, although at diminished rates,” the company said. Last week, Chevron’s El Segundo refinery took multiple units offline after … Read more
The International Energy Agency on Tuesday cut its global forecast for renewable power growth by 2030 by 248 gigawatts from last year’s outlook, citing weaker prospects in the United States and China, even as solar power continues to drive record additions. Global renewable power capacity is now expected to rise by 4,600 GW by 2030 … Read more
Summary OPEC+ opted for modest hike due to glut concerns, sources say OPEC and non-OPEC supply rising Supply to far exceed demand in 2026 (Reuters) – OPEC+ oil-producing countries opted for only a modest rise to November output due to concerns about a potential global glut, sources within the group said, as non-OPEC supply also … Read more
By Javier Blas The oil market is heading for an immense surplus in early 2026. How large? “Cartoonish,” reckons Macquarie Group Ltd., a bank with a huge commodities business. What’s the solution? Stockpile millions of barrels of crude into tanks. It’s a tried-and-tested response, but this time there’s a catch: interest rates are much higher … Read more
By Akshat Rathi A model of a floating solar farm displayed at the Trina Solar Co. offices in Changzhou, Jiangsu province, China, on Friday, Sept. 26, 2025. Industry giants including Trina Solar have announced billions on overseas factories in more than 50 countries. Photographer: Qilai Shen/Bloomberg There’s a battle underway to win the energy export … Read more
Summary Brent, WTI steady after settling 1% higher previously OPEC+ to hike November output by 137,000 bpd, less-than-expected Oversupply outlook weighs slightly on prices (Reuters) – Oil prices were steady on Tuesday as investors assessed a smaller-than-expected November output hike by OPEC+ against the backdrop of oversupply expectations. Brent crude futures fell 9 cents, or … Read more
A combination of file photos shows the logos of five of the largest publicly traded oil companies; BP, Chevron, ExxonMobil, Shell and TotalEnergies. REUTERS Summary Current payouts unsustainable with oil below $80 a barrel Crude oil prices expected to continue falling Companies under pressure to cut debt Reduced buybacks and job cuts announced The five … Read more
Oct 6 (Reuters) – A group of labor unions, nonprofits and solar companies sued the Trump administration on Monday over its cancellation of a $7 billion Biden-era grant program that aimed to expand solar energy to low-income communities. The complaint, filed in federal court in Rhode Island, alleges that the U.S. Environmental Protection Agency and … Read more
(Reuters) – Exxon Mobil said on Monday changes in crude oil prices over the third quarter could impact the company’s upstream earnings from negative $100 million to as much as a positive $300 million. The company also signaled in a regulatory filing that stronger margins in the refining business could boost earnings by $300 million … Read more
German Economy and Energy Minister Katherina Reiche attends a statement before “steel talks” in Berlin, Germany, October 1, 2025. REUTERS/Liesa Johannssen BERLIN, Oct 6 (Reuters) – German Economy Minister Katherina Reiche on Monday unveiled a 6 billion euro ($7 billion) funding initiative aimed at industrial decarbonisation, incorporating carbon capture and storage (CCS) technology into the … Read more
Oct 6 (Reuters) – Chart Industries (GTLS.N) said on Monday that its shareholders voted to approve the company’s acquisition by Baker Hughes (BKR.O). In July, Baker Hughes said it would buy Chart Industries in a $13.6 billion all-cash deal, including debt, topping a previously agreed merger offer that Chart struck with rival Flowserve (FLS.N). Chart … Read more
CALGARY, Alberta, Oct. 06, 2025 (GLOBE NEWSWIRE) — The Board of Directors (the Board) of Precision Drilling Corporation (Precision) announced today that, as part of its long-standing succession plan, Mr. Carey Ford has been appointed as President and Chief Executive Officer and as a member of the Board. He succeeds Kevin Neveu, who has retired … Read more
(Reuters) – A new discovery in the Pazan gas field in southern Iran has been made with 10 trillion cubic feet of natural gas, Oil Minister Mohsen Paknejad said on Monday according to his ministry’s news outlet Shana. Iran holds the world’s second largest natural gas reserves, but most of its production is consumed domestically … Read more
Summary LNG now covers half of EU gas needs EU dependency on US LNG set to rise further LNG prices more volatile than pipeline gas EU gas storage levels drop to four-year low Oct 6 (Reuters) – Europe will need to import up to 160 additional liquefied natural gas cargoes this winter due to lower … Read more
Calgary, Canada (October 2025) – A new partnership between safety solutions provider Microwatt and robotics innovator Nexxis is set to transform how industries approach asset inspection. At its core, this collaboration is about bringing cutting-edge robotic and non-destructive testing (NDT) technologies to operators who face the toughest inspection challenges—confined spaces, submerged systems, hazardous zones, and … Read more
EnergyNow Staff The Net-Zero Banking Alliance (NZBA) was established to mobilize the global banking sector in the fight against climate change, aiming for net-zero greenhouse gas emissions by 2050. Despite its ambitious goals, the NZBA has faced significant challenges and criticism, preventing it from working as intended. This document examines the history, founding members, reasons … Read more
(Reuters) – Chevron said on Saturday that it will be making operational adjustments to its 285,000 barrel-per-day El Segundo refinery to meet Southern California’s fuel demands after a large fire erupted on Thursday night at the refinery. The El Segundo refinery is the second-largest in California and Chevron’s second-biggest refinery in the United States. The facility supplies … Read more
(Reuters) – The decision by President Donald Trump administration to halt fully permitted offshore wind energy projects is “very damaging” to investment, President of Shell U.S. Colette Hirstius told the Financial Times in a report published on Sunday. The executive told the newspaper that energy projects with proper permits should be allowed to continue and warned … Read more
(Reuters) – U.S. energy firms this week kept the number of oil and natural gas rigs virtually unchanged, energy services firm Baker Hughes said in its closely followed report on Friday. The rig count including a miscellaneous category, an early indicator of future output, was steady at 549 in the week to October 3. Baker … Read more
Summary OPEC+ November supply hike stable from October at 137,000 bpd Refinery maintenance to limit oil demand in Q4, analysts say Weak demand outlooks in Q4 to also cap near-term gains (Reuters) – Oil prices rose more than 1% on Monday after OPEC+’s planned production increase for November was more modest than expected, tempering some … Read more
(Reuters) – Former U.S. President Joe Biden exceeded his authority by withdrawing large areas along U.S. coastlines from future offshore oil and gas development, a federal judge in Louisiana ruled on Thursday. U.S. District Judge James Cain in Lake Charles, Louisiana, sided with Republican states and oil and gas industry groups that sued to block … Read more
OPEC+’s continued oil output increases are eroding the group’s spare production capacity, a vital cushion that has helped to mitigate volatility in recent years. Energy traders may therefore face rockier days ahead. The prevailing belief in oil markets over the past three years has been that any supply shortfalls could be swiftly met by OPEC+, … Read more
(Reuters) – Chevron is selling a collection of pipeline assets in the Denver-Julesburg shale basin that are likely to fetch more than $2 billion, people familiar with the matter said. Investment bankers at Bank of America have been working in recent weeks to solicit potential interest in the infrastructure, which was largely inherited from the … Read more
By Arathy Somasekhar OPEC+ could further boost output in November, sources say Analysts predict oil market surplus in fourth quarter and beyond Chevron refinery fire unlikely to affect broader market HOUSTON, Oct 3 (Reuters) – Oil prices settled higher on Friday but posted a weekly loss of 8.1% after news of potential increases to OPEC+ … Read more
(Reuters) – Exports of U.S. crude oil climbed to the highest level in over a year and a half in September, ship tracking data showed, as U.S. refineries began seasonal maintenance and Asian demand increased. U.S. crude exports rose to an average of 4.2 million barrels per day in September, the highest since February 2024, … Read more
A spokesperson for the UN-backed Net-Zero Banking Alliance says members voted to end the membership-based structure and instead use the climate guidance the group created as a reference. As a result of the vote, the alliance is ending operations immediately. Carney launched the group in his role as UN Special Envoy for Climate Action and … Read more
By Akshat Rathi, Stephen Stapczynski, and Oscar Boyd Booming electricity demand driven by AI is causing a shortage of gas turbines worldwide, Stephen Stapczynski and Akshat Rathi explain why on Zero podcast. Gas turbine components, rotors and stators, tested at the Siemens Energy AG manufacturing plant in Berlin, Germany. Photographer: Nicolo Lanfranchi/Bloomberg Rising power demand … Read more
Exxon oil and gas assets in Cuba were seized in 1960 Case involves 1996 U.S. law called the Helms-Burton Act Court will hear similar case involving cruise lines WASHINGTON, Oct 3 (Reuters) – The U.S. Supreme Court agreed on Friday to hear ExxonMobil’s (XOM.N) bid to obtain compensation from Cuban state-owned firms for oil and … Read more
LONDON, Oct 2 (Reuters) – Global fuel oil demand has exceeded expectations in recent years, according to the International Energy Agency and other forecasters. The IEA’s latest medium-term outlook projects that residual fuel oil demand in 2025 will be 4.8% higher than in 2019, compared with a 1.9% increase in gasoline consumption. In contrast, demand … Read more
By Gavin Maguire LITTLETON, Colorado, Oct 3 (Reuters) – Although overshadowed so far by booming data center demand and the U.S. government’s gutting of clean energy policies, California’s rapid scaling of solar farms and battery systems may yet emerge as 2025’s most significant power story. California’s mammoth solar farms have generated more electricity than the … Read more
Summary Companies OPEC+ could further boost output in November, sources say Analysts predict oil market surplus in fourth quarter and beyond Chevron refinery fire unlikely to affect broader market (Reuters) – Oil prices settled higher on Friday but posted a weekly loss of 8.1% after news of potential increases to OPEC+ supply. Brent crude futures … Read more
Goldman Sachs has kept its forecast for Henry Hub gas prices unchanged, with November–December delivery contracts seen at $4.00 per million British thermal units (mmBtu) and 2026 prices seen at $4.60 per mmBtu, the bank said in a note on Thursday. “We believe we are quickly approaching a period when the market’s focus will more … Read more
Summary No injuries reported from explosion, fire Blaze could affect jet fuel supply to LAX, southern California No evacuations ordered due to fire (Reuters) – A massive fire erupted in a jet fuel production unit at Chevron’s El Segundo refinery near Los Angeles on Thursday, sending flames and smoke into the sky and raising questions over … Read more
Summary OPEC+ could further boost output in November, sources say Analysts predict oil market surplus in fourth quarter and beyond Chevron refinery fire unlikely to affect broader market LONDON, Oct 3 (Reuters) – Oil prices were stable on Friday but remained on course for a weekly loss of about 7-8% after news of potential increases … Read more
Occidental Petroleum will be in a better position to invest in its core oil and gas business after divesting a chemicals unit and will be able to replace the lost cash flow from the division in about two and a half years, CEO Vicki Hollub said in an interview on Thursday. After announcing earlier in … Read more
By Curtis Williams and Amanda Stephenson LNG Canada begins process for Train 2 startup -spokesperson Train 1 continues to have technical problems – sources Exports ongoing and flaring on Sept 11 ended – spokesperson Exports fall in September, data show Natgas prices hit record lows amid slow ramp-up of LNG Canada (Reuters) – Shell-led LNG … Read more
RIO DE JANEIRO, Oct 2 (Reuters) – BP (BP.L), opens new tab will seek a partner for its major Bumerangue oil discovery in Brazil and could close a deal before making a final investment decision on the project, the oil major’s country head said on Thursday. The British company, which currently holds 100% of the … Read more
(Reuters) – U.S. public power utilities are seeing explosive electricity demand from data centers, with some requests exceeding the total energy currently used by all of their customers combined, CEOs and investors in the not-for-profit power sector said this week. Big Tech’s data center power demand has created an opportunity to grow revenues and investments … Read more
(Reuters) – China’s biggest state banks are lending billions to Aramco’s Jafurah gas project, though its funds have passed on the opportunity to invest in the venture, three people familiar with the matter said. Chinese banks provided more than a third of the financing for what will potentially be the biggest shale gas project outside … Read more
By Michelle Ma and Robert Tuttle Crew work to finish construction on CarbonCapture Inc.’s direct air capture system. Photographer: Amber Bracken/Bloomberg A carbon capture startup has moved its first commercial pilot project from the US to Canada due to what it sees as more stable government incentives and support. CarbonCapture Inc. subsidiary True North Carbon … Read more
By Ari Natter The Trump administration plans to continue issuing permits for oil drilling and do other work on “priority conventional energy projects” during the government shutdown but will freeze activities on some renewable energy projects. The Interior Department, which oversees energy development on federal lands and waters, is furloughing thousands of workers but will … Read more
By Ruth Liao Energy Transfer LP is nearing an agreement to sell liquefied natural gas from its planned Lake Charles export terminal in Louisiana to MidOcean Energy, a subsidiary of investment firm EIG Global Energy Partners, according to people familiar with the matter. The pact would cement a heads of agreement between Energy Transfer and … Read more
By Ahmad Ghaddar and Alex Lawler LONDON, Oct 1 (Reuters) – An OPEC+ panel stressed the need for achieving full compliance with oil output agreements and extra output cuts that some members are required to make to compensate for earlier exceeding quotas at a meeting on Wednesday, OPEC said in a statement. The online meeting … Read more
By Clyde Russell FUJAIRAH, Oct 2 (Reuters) – The unwinding of OPEC+ production cuts, China storage flows and geopolitical tensions have been the primary drivers of crude oil prices this year, and are likely to remain so for the foreseeable future. Knowing what is influencing the market is one thing. Predicting with any accuracy how … Read more
By Enes Tunagur Fuel oil demand rises faster than previously thought Shadow fleet growth boosts fuel oil burn Red Sea diversions adding to consumption LONDON, Oct 2 (Reuters) – Fuel oil used in ships and power plants is seeing unexpected demand, with efforts to curb its use more than offset by an expanding shadow fleet … Read more
By Alex Epstein A summary of Fossil Future, Chapter 1 This is the first of 11 “Alex Notes” on my book Fossil Future—like Cliff’s Notes, but actually written by the author. Enjoy! Get Fossil Future (Some of you will remember that I started creating “Alex notes” as part of the Fossil Future book launch, but never … Read more
U.S. pipeline operator Williams Companies said on Wednesday it plans to invest about $3.1 billion in two additional power-innovation projects. The company also said it would raise its 2025 capital spending plan by $875 million to be between $3.45 billion and $3.75 billion. With U.S. power demand rising, utilities are adding billions to capital plans … Read more
(Reuters) – Targa Resources will build a 500-mile pipeline to transport natural gas liquids from its plants in the Permian Basin to its fractionation and storage complex in Mont Belvieu, Texas, it said on Tuesday. The Speedway NGL Pipeline is expected to cost about $1.6 billion and will have an initial capacity of about 500 … Read more
(Reuters) – Cenovus will shut several units at its 160,000-bpd refinery in Toledo, Ohio next week for a month of planned maintenance, a source familiar with the matter said on Wednesday. The planned work is expected to start on October 6. Cenovus did not immediately respond to Reuters’ request for comment. Reporting by Nicole Jao
Summary LNG bunker volume to top 4 mln T in 2025, double by 2030 -Rystad TotalEnergies sees LNG, bio-LNG bunker demand at 15 mln T by 2030 Abundant supply to lower LNG prices, improve demand IMO vote on net zero plans could accelerate LNG demand SINGAPORE, Oct 2 (Reuters) – Demand for liquefied natural … Read more
Berkshire Hathaway has reached a definitive agreement to acquire Occidental Petroleum’s chemical business, OxyChem, in an all-cash transaction valued at $9.7 billion. The sale, expected to close in the fourth quarter of 2025 pending regulatory approvals, represents one of the largest U.S. petrochemical transactions in recent years. Vicki Hollub, CEO of Occidental Occidental said it … Read more
Summary Brent, WTI extend falls, Brent traded earlier at the lowest level since June Expectations of OPEC+ output increase weighs on market US to give Ukraine intelligence for strikes on Russian energy infrastructure, officials say (Reuters) – Oil prices edged lower on Thursday, extending a run of declines into a fourth day due to concerns … Read more
(Reuters) – U.S. LNG exports hit a record in September at 9.4 million metric tons, beating their previous record of 9.3 million MT in August, according to preliminary data from financial firm LSEG. The increase was fueled by strong sales to Europe and Asia, and came despite unplanned shutdowns at the country’s largest facility, Cheniere … Read more
(Reuters) – The U.S. Department of Energy on Wednesday said it planned to cancel $7.56 billion in financing for hundreds of energy projects that it said would not provide sufficient returns to taxpayers. The department’s announcement came hours after White House budget director Russell Vought said in a post on X that the administration would … Read more
(Reuters) – An OPEC+ panel stressed the need for achieving full compliance with oil output agreements and extra output cuts that some members are required to make to compensate for earlier exceeding quotas at a meeting on Wednesday, OPEC said in a statement. The online meeting of the Joint Ministerial Monitoring Committee, which includes top … Read more
(Reuters) – New BP Chair Albert Manifold told employees on Tuesday that the group’s portfolio was “overly complex” and it needed to execute its strategy of shifting focus back to oil and gas faster, according to an internal memo seen by Reuters. Manifold took the helm of BP’s board on Tuesday. He succeeded Helge Lund, … Read more
(Reuters) – Venezuela’s oil exports averaged 1.09 million barrels per day (bpd) in September, the highest monthly level since February 2020, according to shipping data and documents from state-run energy company PDVSA. The country has struggled to stabilize oil production and exports since coming under U.S. sanctions in 2019, but rising crude output, sales of … Read more
(Reuters) – Russia boosted oil exports via its western ports by 25% in September versus August, according to three trading sources, as refinery outages caused by Ukrainian drone attacks freed up more crude. September exports via the western ports of Primorsk, Ust-Luga and Novorossiisk rose to 2.5 million barrels per day (bpd), the sources said. … Read more
(Reuters) – Russia plans to increase LNG exports to China from the Arctic LNG 2 and Sakhalin 2 projects, and “serious joint progress” is underway, Russian Energy Minister Sergei Tsivilev told the Expert magazine. Despite Western sanctions, Arctic LNG 2, which is 60% owned by Russia’s Novatek, has been sending out LNG since last year, … Read more
Macquarie has lowered its West Texas Intermediate (WTI) crude oil price forecasts for 2025 and 2026, citing a heavily oversupplied market and heightened uncertainty stemming from recent policy decisions under U.S. President Donald Trump’s administration. The bank in a note on Tuesday said it now expects WTI to average $64 per barrel in 2025, down … Read more
Summary OPEC+ may raise output by up to 500,000 bpd in November, sources say US crude stocks down 3.67 million barrels last week – API US EIA stocks data to be released as usual despite shutdown (Reuters) – Oil prices steadied on Wednesday after falling for two days as investors weighed OPEC+ plans for a … Read more
Harnessing Earth’s Heat for a Sustainable Future Overview of Geothermal Energy in the United States Geothermal energy, derived from the natural heat stored beneath the Earth’s surface, has long been part of the United States’ diverse portfolio of renewable energy resources. This form of energy is reliable, sustainable, and capable of providing both electricity and … Read more
September 30 – Global energy majors and related companies plan to slash more jobs in 2025, after cutting thousands last year, as the industry navigates weaker crude oil prices and a rapid consolidation. Benchmark Brent crude futures are down about 10.5% year-to-date, impacted by increased OPEC+ output and persistent demand uncertainty tied to the U.S. … Read more
(Reuters) – Berkshire Hathaway is in talks to buy Occidental Petroleum’s petrochemical unit for about $10 billion, the Wall Street Journal reported on Tuesday citing people familiar with the matter. The potential sale of the OxyChem unit, which supplies products used in sectors such as medical care, food security and construction, would add to a … Read more
Yemen’s Houthis will target U.S. oil majors including Exxon Mobil and Chevron despite an earlier truce agreed with President Donald Trump’s administration to not attack U.S.-linked ships sailing in the Red Sea and the wider Gulf of Aden, the Iran-backed militia said on Tuesday. The Sanaa-based Humanitarian Operations Coordination Center (HOCC), which liaises between Houthi forces and … Read more
U.S. crude oil production rose to a fresh monthly high of 13.64 million barrels per day in July, up 109,000 bpd from the previous record in June, data from the Energy Information Administration showed on Tuesday. Oil output from top-producing state Texas rose to 5.8 million bpd in July, the highest since October 2024, while … Read more
By Joe Ryan and Stephen Stapczynski Shell Plc Chief Executive Officer Wael Sawan said the number of new liquefied natural gas projects moving forward was surprising given their high costs, underscoring the fuel’s long-term role in the global energy transition. “There is a significant amount of capacity being built at the moment, including here in … Read more
By Thomas Biesheuvel The Glencore Plc headquarters in Zug, Switzerland. Photographer: Jose Cendon/Bloomberg The head of Glencore Plc’s oil and gas trading team is planning to leave the company, becoming the latest high profile departure from one of the world’s biggest commodity traders. Alex Sanna, who has been at the company for almost 20 years, … Read more
By Stephanie Kelly LONDON, Sept 30 (Reuters) – Shell (SHEL.L) has started production from its Victory gas field in the North Sea, which at peak production can heat almost 900,000 homes per year, it said on Tuesday. At full capacity, the gas field can produce about 150 million standard cubic feet per day of gas, … Read more
By Arathy Somasekhar HOUSTON, Sept 30 (Reuters) – Natural gas producer Expand Energy (EXE.O) on Tuesday said it expects U.S. Gulf Coast LNG export capacity to double to about 28 billion cubic feet (bcf) a day by 2030. Expand, among the top U.S. gas producers, also expects demand for gas to power AI and data … Read more
(Reuters) – OPEC+ is likely to consider a larger oil production increase of 411,000 barrels per day for November at its meeting next Sunday as rising oil prices encourage the group to try to regain more market share, said two sources familiar with the talks. OPEC+ has reversed its earlier strategy of output cuts and … Read more
Summary Geopolitical risks unlikely to cause sustained price rally OPEC+ and non-OPEC+ production growth seen deepening supply glut For table of crude price forecasts, click (Reuters) – Oil prices are expected to hold almost steady this year despite mounting supply from both OPEC+ and non-OPEC producers, with concerns about a potential glut tempered by uncertainty … Read more
Summary Exxon restructuring affects 3-4% of global workforce No US job cuts planned, half in Canadian unit Imperial Oil Oil price slump prompts industry-wide job cuts, efficiency measures (Reuters) – Top U.S. oil major Exxon Mobil said on Tuesday it will lay off 2,000 workers globally, particularly in Canada and across the European Union, as part … Read more
Sept 29 (Reuters) – CenterPoint Energy (CNP.N) on Monday announced it was planning $65 billion in capital spending from 2026 through 2035, as U.S. utilities rush to capitalize on surging power demand. Data centers dedicated to artificial intelligence and cryptocurrency, as well as the electrification of industries such as transportation, are driving up U.S. power … Read more
FuelMaxx is a state-of-the-art fuel modulator device engineered to optimize diesel combustion, delivering measurable fuel savings and reduced emissions across all types of heavy-duty diesel equipment and vehicles. Designed with durability and performance in mind, FuelMaxx operates completely maintenance-free, requiring no filters, additional fluids, or routine servicing—ensuring maximum uptime and operational efficiency. By … Read more
Oil prices fell on Tuesday as another anticipated production increase by OPEC+ and the resumption of oil exports from Iraq’s Kurdistan region via Turkey reinforced the outlook for a looming supply surplus. Brent crude futures for November delivery, expiring on Tuesday, fell 47 cents, or 0.69%, to $67.50 a barrel by 0012 GMT. The more … Read more
While energy companies are retrenching in the face of a bleak near-term outlook for oil and gas, their investment plans suggest they believe the environment will shift dramatically by the end of the decade. Energy companies’ spending plans are typically a good gauge of their confidence in the sector’s long-term outlook, given that it takes … Read more
By Timothy Gardner US opens 13.1 million acres of federal land to coal leasing Energy Department releases funds for power generation from coal Green group: move will spike power bills, damage health WASHINGTON, Sept 29 (Reuters) – The Trump administration will expand coal mine leasing on federal lands and provide hundreds of millions of dollars … Read more
Sawan has increased Shell’s focus on natural gas to improve the company’s financial performance against its peers in Europe and the U.S. since taking over as CEO in January 2023, pivoting away from renewables by pulling out of a number of wind, solar and other low-carbon ventures. Sawan said he believes LNG is one of … Read more
By Alex Longley TotalEnergies SE said it sees limited growth in oil production outside the OPEC+ alliance after next year, while global consumption will continue to climb to the end of the decade. Global spare output capacity is set to shrink from 2027 as lower oil prices curb investments, the French energy giant said in … Read more
By Robert Tuttle An LNG carrier is loaded at the LNG Canada docks in Kitimat, British Columbia on July 14. Photographer: James MacDonald/Bloomberg Canada’s benchmark gas price has tumbled to a record low as production hiccups at the country’s first LNG export plant on the British Columbia coast contributed to a surplus of supply. The … Read more
(Reuters) – TotalEnergies CEO Patrick Pouyanne said on Monday he would be surprised if all U.S. LNG projects that have received regulatory approval will be built, citing the difficulty of finding willing long-term buyers and financing. Pouyanne has previously warned that the United States is building too many liquefied natural gas plants, warning it could … Read more
Sept 29 (Reuters) – U.S.-based utility PG&E Corp (PCG.N) said on Monday it plans to spend $73 billion by 2030 for transmission upgrades to meet the data center-led surge in electricity demand. The company had said in July it was working to serve 10 gigawatts (GW) of new electricity demand from data center projects over … Read more
Vistra said on Monday it would build two new natural gas units at its Permian Basin power plant in West Texas, more than tripling the site’s capacity as the state’s grid grapples with rising demand from households and the oil and gas industry. U.S. power consumption is expected to reach record highs in this year … Read more
Soaring demand for electricity will drive a $350 billion nuclear spending boom in the US, boosting output from reactors by 63% by 2050, according to Bloomberg Intelligence. The key driver is power-hungry data centers running artificial intelligence systems, and that investment will add 53 gigawatts of reactor capacity, bringing the total nuclear fleet to 159 … Read more
Much of the world had been turning away from traditional nuclear power in recent decades. Aging plants, high construction costs, security risks and radioactive-waste challenges caused policymakers and the public to question the economics of atomic energy. Interest in the technology has only recently been revived amid pressure to hit climate goals and meet surging … Read more
(Reuters) – Ares Management said on Monday its infrastructure funds have bought Meade Pipeline for about $1.1 billion, adding a key natural gas asset to its U.S. energy business as demand for power and gas surges. The investment management company is buying it from affiliates of XPLR Infrastructure a leading independent power producer formed by NextEra … Read more
Summary Increase to amount to at least 137,000 bpd, sources say Ukrainian drones attacks cut Russian oil refining, exports Oil trades at multi-week high above $70 a barrel (Reuters) – OPEC+ will likely approve another oil production increase of at least 137,000 barrels per day at its meeting next Sunday, as rising oil prices encourage … Read more
Summary Kurdistan crude flows to Turkey resumes after 2-1/2 year halt OPEC+ plans another oil output hike in November, sources say Russia pounds Ukraine in mass drone and missile attack (Reuters) – Oil prices dropped on Monday after Iraq’s Kurdistan region resumed crude oil exports via Turkey over the weekend, coupled with OPEC+ plans for … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row for the first time since February, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by seven to … Read more
Takeaways by Bloomberg AI Occidental Petroleum Corp. is in talks to sell its OxyChem petrochemical unit in a deal worth at least $10 billion. The divestment would be the US company’s biggest yet and would create one of the world’s largest standalone petrochemical companies. Occidental has been divesting assets in an effort to reduce debt, … Read more
Summary Tiber-Guadalupe project to produce 80,000 barrels per day by 2030 BP’s US output target is over 1 million boepd by 2030 Tiber-Guadalupe fields estimated to hold 350 million barrels of recoverable resources (Reuters) – British energy major BP will go ahead with developing a $5 billion offshore drilling project in the U.S. Gulf of … Read more
Chevron said on Thursday it was expecting a loss of $200 million to $400 million in the third quarter due to the impact related to the acquisition of Hess. Chevron closed its $55 billion buyout of Hess in July after winning a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery … Read more
Takeaways by Bloomberg AI TotalEnergies SE is under pressure to show it can sustain payouts and deliver returns from its push into low-carbon energy as debt climbs and shares lag behind peers. The company has cut its quarterly stock repurchase program to $1.5 billion from $2 billion and warned it could fall as low as $750 … Read more
Crude oil flows from Iraq’s northern Kurdistan region to Turkey resumed on Saturday for the first time in two and a half years. Here are details about the dispute that halted the piped supply of some 450,000 barrels per day (bpd) in March 2023: WHAT PROMPTED THE SHUTDOWN? Turkey shut the pipeline following an International … Read more
Summary Ukraine attacks dent Russian refining capacity Some Russian regions face fuel shortages Iraq’s Kurdistan to resume oil flows to Turkey Brent and WTI benchmarks set for strong weekly gains (Reuters) – Oil prices rose on Friday as Ukraine’s drone attacks on Russia’s energy infrastructure cut the country’s fuel exports. Brent futures settled at $70.13 … Read more
By Erwin Seba Ukraine attacks dent Russian refining capacity Some Russian regions face fuel shortages Iraq’s Kurdistan to resume oil flows to Turkey Brent and WTI benchmarks set for strong weekly gains HOUSTON, Sept 26 (Reuters) – Oil prices rose on Friday as Ukraine’s drone attacks on Russia’s energy infrastructure cut the country’s fuel exports. … Read more
(Reuters) – U.S. trade negotiators have told their Indian counterparts that curbing purchases of Russian oil is crucial to reducing India’s tariff rate and sealing a trade deal, two people familiar with the talks told Reuters. While trade negotiations are on a positive track, a U.S. official said, more work is needed to ensure India … Read more
Takeaways by Bloomberg AI Crude from the US could become too expensive for Asian buyers due to higher tanker rates. Chinese refiners are placing orders for crude to arrive before the end of the year to use up import quotas, reducing the number of vessels available to ferry oil from the Americas to Asia. The trend … Read more
Ukraine’s repeated strikes on Russian energy infrastructure have dealt a serious blow to Moscow’s vital fuel exports just as Western sanctions are tightening. But if these attacks are too successful, they risk raising the ire of U.S. President Donald Trump. The conflict between Russia and Ukraine that began in 2022 took a sharp turn in … Read more
Summary Record low negative prices due to pipeline constraints Production cuts could last till end of month – analyst Advantage Energy carrying out unprecedented shut-ins (Reuters) – Some natural gas producers in Western Canada are aggressively cutting output in an effort to ease an ongoing glut that this week tipped prices for the fuel into … Read more
Summary OPEC+ has failed to hit its increased targets Some members struggle to raise output Some face curbs because of previous overproduction OPEC+ may deliver only half of next output hikes (Reuters) – OPEC+ has delivered about three quarters of the extra oil output it targeted since the group started production hikes in April, and … Read more
Summary Ukraine attacks dent Russian refining capacity Some Russian regions face fuel shortages Iraq’s Kurdistan to resume oil flows to Turkey Brent and WTI benchmarks set for 4% weekly gains (Reuters) – Oil prices edged up on Friday, on track for a more than 4% weekly gain, as Ukraine’s attacks on Russia’s energy infrastructure prompted … Read more
The administration of U.S. President Donald Trump is urging utilities across the country to keep coal-fired power plants running longer, in part to help deliver the vast amount of electricity needed to fuel artificial intelligence, Energy Secretary Chris Wright told Reuters on Thursday. Delaying the retirement of often half-century-old coal plants is part of a … Read more
(Reuters) – U.S. Energy Secretary Chris Wright said in an interview on Thursday that reducing Russia’s natural gas sales to Europe is the “most immediate hammer” Washington has to pressure Moscow into ending the war in Ukraine. Wright, who spent nearly a week in Europe this month, said cutting Russia’s gas sales is easier than … Read more
By Stephanie Kelly and Shadia Nasralla Last year’s edition saw peak oil demand in 2025 Renewables to overtake coal share in energy mix by 2040 Natural gas demand set to grow almost 20% by 2040 LONDON, Sept 25 (Reuters) – BP (BP.L) said on Thursday it expects global oil demand to grow until 2030, five … Read more
(Reuters) – Slovakia expects to find “common ground” with the United States after pressure to end Russian energy purchases, Slovak Prime Minister Robert Fico said on Thursday as he defended receiving supplies from Moscow. The European Union has sought to isolate Russia for its 2022 invasion of Ukraine and to phase out purchases of Russian … Read more
By Josh Saul and Ellen Schneider Investment giants KKR & Co. and Blackstone Inc. are leading a combined $17 billion investment in the natural gas industry, marking a massive push of private funds into a sector helping to quench artificial intelligence firms’ relentless thirst for energy. KKR and Canada Pension Plan Investment Board on Tuesday … Read more
Sept 24 (Reuters) – The U.S. Department of Energy intends to cancel more than $13 billion in funds that the Biden administration had pledged to subsidize wind, solar, batteries and electric vehicles, it said on Wednesday. It was not immediately clear which funds were being targeted. The department did not immediately respond to a request … Read more
(Reuters) – U.S. Energy Secretary Chris Wright said at a press conference in New York that his department would announce on Wednesday the return to the U.S. Treasury of $13 billion that was slated to subsidize wind, solar, batteries and electric vehicles. Reporting by Timothy Gardner; Editing by Mark Porter
(Reuters) – U.S. natural gas futures were little changed on Wednesday as bearish forecasts for milder weather through early-October offset bullish forecasts for more demand over the next two weeks than previously expected. Front-month gas futures for October delivery on the New York Mercantile Exchange rose 0.5 cents, or 0.2%, to $2.858 per million British … Read more
By Ellen Milligan and Kate Sullivan US President Donald Trump scolded the UK for its green-energy push in a roughly hour-long speech at the United Nations in which he criticized many of America’s closest allies. Trump, who visited the UK for a state visit just last week, denounced Prime Minister Keir Starmer’s attempt to diversify … Read more
Summary Price drops likely due to profit-taking, analysts say Supply-demand concerns back in focus for fourth quarter Geopolitical concerns key upside driver for recent gains, analyst says (Reuters) – Oil prices edged down on Thursday, retreating from the previous session’s seven-week high, as some investors took profits after U.S. stocks closed lower and in anticipation … Read more
By Tegan Hill and Elmira Aliakbari Prime Minister Carney’s recently released list of five projects—which the government deems to be in the national interest and will expedite—doesn’t include a new oil pipeline for western Canada in general or Alberta in particular. The reason given was that no private developer stepped forward to finance or build one. But … Read more
COPENHAGEN, Sept 24 (Reuters) – Denmark’s Orsted (ORSTED.CO) said on Wednesday it had resumed work on a U.S. offshore wind project after a federal judge on Monday ruled it could restart construction while the Trump administration’s legal case to fully halt the project continues. The U.S. Bureau of Ocean Energy Management issued a stop-work order … Read more
(Reuters) – The eight international oil companies operating in Iraqi Kurdistan reached agreements in principle with Iraq’s federal and Kurdish regional governments to resume oil exports, according to an IOC statement seen by Reuters on Wednesday. The agreed framework, once signed and implemented, will allow exports to restart “in the coming days”, the statement said. … Read more
(Reuters) – The marginal cost of producing U.S. shale oil will rise by as much as $15 a barrel to $95 a barrel in about 10 years, energy analytics firm Enverus said on Tuesday, as stagnating production pushes companies to drill in locations with fewer proven resources. On average, it costs roughly $70 a barrel … Read more
(Reuters) – Oil and gas production and activity in the key producing states of Texas, Louisiana and New Mexico declined slightly in the third quarter of 2025, according to the Dallas Fed on Wednesday. Costs among oilfield service firms rose in the third quarter compared with the second quarter, but at a slower pace. Companies … Read more
By Scott Disavino Surprise drop in US crude inventories boosts oil prices Ukraine strikes Russian oil stations, raising supply concerns Iran says crude sales to China should continue irrespective of UN sanctions snap-back NEW YORK, Sept 24 (Reuters) – Oil prices climbed about 3% to a seven-week high on Wednesday as a surprise drop in … Read more
By Bart H. Meijer, Andres Gonzalez and Christoph Steitz Buyers are APG, Norges Bank, and Singapore’s GIC Sale follows failed attempt to sell to Berlin last year Berlin considers taking minority stake in TenneT Germany THE HAGUE/LONDON/FRANKFURT, Sept 24 (Reuters) – The Dutch government is selling 46% of power grid operator TenneT’s German unit to … Read more
By Dorothy Neufeld | Graphics/Design: Sabrina Lam Key Takeaways Global energy demand increased 2% to reach an all-time high of 592 exajoules (EJ) in 2024. Non-fossil fuels grew 7% year-over-year, bringing their share of the global energy mix to 13.5%. Global energy use rose to 592 EJ in 2024, marking a new record in demand. … Read more
(Reuters) – Guyana’s oil production increased to 685,000 barrels per day in August from 664,000 bpd the previous month, boosted by the start-up of the fourth floating output facility in the South American country, government data seen on Wednesday showed. A consortium led by U.S. energy major Exxon Mobil, which controls all oil and gas … Read more
Kremlin spokesman Dmitry Peskov, asked about the possible return of Exxon Mobil to Russia, said on Wednesday that the U.S. energy major was not the only company keen to return to the country. “Believe me, there is more than one corporation that is interested in reincarnating its presence on the Russian market,” Peskov told RBC … Read more
Kathairos has been named a finalist in the Rising Star Company category at the 2025 Platts Global Energy Awards. For more than 25 years, the Platts awards have been recognized as the “Oscars” of energy. They celebrate organizations and individuals who are driving innovation, leadership, and impact across the global energy landscape. To be named … Read more
The North American energy landscape—spanning complex oil and gas operations, massive utility infrastructure projects like transmission lines, and rapidly expanding clean energy development such as new wind farms or solar installations—is defined by immense capital investment and demanding regulatory compliance. For professionals in this sector, optimizing land use and maintaining financial rigor are not separate … Read more
By Anna Shiryaevskaya Golden Pass LNG Terminal LLC has been granted permission to re-export LNG from the facility as the facility prepares for start-up at the end of this year. The US Department of Energy has allowed Golden Pass to export a total of 50 billion cubic feet of previously imported LNG from foreign sources … Read more
By Mia Gindis TC Energy will focus on ramping up US investments to meet soaring power demand despite signals Canada is showing a more energy-friendly stance. “The returns we can earn in the United States are significantly more attractive than they are in Canada,” Chief Executive Officer and President Francois Poirier said in an interview … Read more
(Reuters) – There are currently 27 active rigs in North Dakota, down from 29 in August, according to the state’s Department of Mineral Resources on Tuesday. There are currently 12 frac crews operating in the state, down from 14 in August. North Dakota is the third largest oil-producing state in the U.S. Reporting by Georgina … Read more
Summary Kurdistan, Chevron export issues supporting oil prices API data shows U.S. crude and gasoline stocks fell last week Iran says crude sales to China should continue irrespective of UN sanctions snap-back (Reuters) – Oil prices rose on Wednesday as an industry report showed U.S. crude inventories declined last week, adding to a sense in … Read more
(Reuters) – U.S. oil major Chevron is only able to export about half the crude its joint ventures produce in Venezuela with the latest rules laid out by Washington, three sources close to the matter said. The Treasury Department in late July issued a restricted authorization allowing Chevron to operate in the sanctioned country and … Read more
(Reuters) – Gas flow into the largest U.S. liquefied natural gas (LNG) plant fell nearly 600 million cubic feet on Tuesday from Monday, short of peak demand by 1.4 billion cubic feet (bcf), according to preliminary data from financial firm LSEG. Cheniere Energy’s Sabine Pass plant in Texas, which can pull over 5 bcf a … Read more
By Mia Gindis TC Energy will focus on ramping up US investments to meet soaring power demand despite signals Canada is showing a more energy-friendly stance. “The returns we can earn in the United States are significantly more attractive than they are in Canada,” Chief Executive Officer and President Francois Poirier said in an interview … Read more
(Reuters) – Oil production in North Dakota rose 2,000 barrels-per-day (bpd) to 1,161,000 bpd in July, monthly data from the state Industrial Commission showed. Bakken and Three Forks oil production stood at 1,132,000 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. President Donald Trump said on Tuesday he plans to call Hungarian Prime Minister Viktor Orbán to urge him to stop purchasing Russian oil, part of a broader push to pressure NATO allies to cut energy ties with Moscow. “He’s a friend of mine. I have not spoken to him, but I have … Read more
(Reuters) – U.S. oil major Exxon Mobil and Russian state-run energy giant Rosneft have signed a non-binding initial agreement to help Exxon recoup a $4.6 billion write-down it made on its activities in Russia in 2022 following Moscow’s invasion of Ukraine, according to two sources familiar with the talks. The agreement marks a tentative step … Read more
The arbitrage window to ship U.S. West Texas Intermediate crude to Asia has narrowed as tanker freight rates surge, while strong export demand pushes up premiums for the grade to multi-month highs, trade sources said on Tuesday. The U.S.-Asia arbitrage, which opened in late July, spurred demand for Very Large Crude Carriers (VLCCs) to embark … Read more
U.S. is applying pressure to lenders to drop restrictions on projects contributing to climate change Financial Times Attracta Mooney in London and Aime Williams in Washington Donald Trump’s administration is pressuring the World Bank to fund more fossil fuel projects, The U.S. president, who has promised to unleash American fossil fuels and has railed against green energy, has torn … Read more
The Trump administration is stepping into the legal fight over whether Enbridge can continue to operate an aging pipeline beneath a Great Lakes channel, arguing that Michigan Gov. Gretchen Whitmer interfered with U.S. foreign policy when she revoked the line’s easement almost five years ago. The pipeline, known as Line 5, has moved crude oil … Read more
(Reuters) – Ukraine’s military struck two Russian oil distribution facilities in the Bryansk and Samara regions overnight, Kyiv’s general staff said on Tuesday. In Samara, the military hit a line production station that mixes Russian oil for its flagship Urals oil grade for export, the general staff said on Telegram. In Bryansk, it hit a … Read more
Summary Global Energy Alliance for People and Planet lays out new five-year plan Targets at least $500 mln in philanthropic capital Slide in official aid a focus at New York Climate Week, COP30 (Reuters) – An alliance that installs renewable energy in developing countries wants to invest around $7.5 billion during its next five-year plan, … Read more
Citi analysts on Friday forecast Brent crude oil prices would fall to $60 per barrel by year-end and average $62 per barrel between the second and fourth quarters of 2026, citing OPEC+ production increases and China’s stockpiling. The bank revised its global liquids balance outlook after OPEC+ announced plans to unwind an additional 1.6 million … Read more
Summary Iraq, KRG agree to resume about 230,000 bpd crude exports via Turkey Global oil market faces elevated supply, slowing demand US crude stocks expected to rise, gasoline inventories to fall Oil prices edged higher on Tuesday even as investors weighed the global supply outlook after Iraq and Kurdish regional governments reached a preliminary agreement … Read more
(Reuters) – Saudi Arabia’s crude oil exports in July hit their lowest level in four months, according to data from the Joint Organizations Data Initiative (JODI) released on Monday. Crude exports from the world’s largest oil exporter fell to 5.994 million barrels per day, from 6.141 million bpd in June, its lowest level since March … Read more
Summary US ruling offers temporary relieve for Orsted Risk of credit downgrade reduced, analyst say Project was 80% complete at time of work-stop order Orsted incurs weekly cost of $15.7 million for project COPENHAGEN, Sept 23 (Reuters) – Orsted shares rose on Tuesday after a U.S. federal judge ruled it could resume work on an … Read more
By Jonathan Tirone Europe’s economy will continue to rely on imported natural gas for decades to come as the transition to solar and wind takes longer than forecast, according to energy company OMV AG. OMV expects gas to play a key role in power generation and industrial heating through at least 2050, Chief Executive Officer … Read more
U.S. oil major Chevron is in early-stage talks to explore opportunities in European regasification terminals, as part of its strategy to expand its global presence in the liquefied natural gas market, a senior executive told Reuters. The U.S. has become Europe’s top LNG supplier since the continent sharply reduced its imports of Russian gas following … Read more
Summary Global LNG capacity to grow by 60% by 2030, US to make up half of additions LNG market expected to enter period of heavy oversupply At the same time, growing demand for domestic US power generation to boost gas costs (Reuters) – The breathtaking expansion of U.S. gas exports in the last decade has … Read more
(Reuters) – A record level of global nuclear power production seen in 2024 will be hard to maintain in the coming years due to a lack of required investment, aging plants and project disruptions, the World Nuclear Industry Status Report said on Monday. Nuclear power has experienced a revival in interest from various countries trying to phase … Read more
(Reuters) – A group of Republican and Democratic U.S. senators introduced legislation on Friday that would expand sanctions against Russian energy, specifically by targeting a collection of older oil tankers the lawmakers say are used to dodge existing U.S. energy sanctions. The “Sanctioning Harbors and Dodgers of Western Sanctions,” or SHADOW Fleets Act comes as President Donald Trump has … Read more
The Trump administration has sided with Canadian pipeline operator Enbridge in its legal battle against Michigan, filing a court statement last week that challenges the state’s efforts to shut down the Line 5 oil pipeline. Enbridge has been locked in a long-running dispute with Michigan over the aging Line 5 pipeline, which ships 540,000 barrels … Read more
Takeaways by Bloomberg AI Companies are looking outside of the US for opportunities due to Trump rolling back clean-tech incentives, with the green hydrogen industry and carbon capture and storage being affected. Regulation is needed to scale green tech, with executives saying that policy support, including mandates, is necessary to lower technology costs and guarantee … Read more
Electricity imports from Canada into New York Independent System Operator (NYISO) and Independent System Operator New England (ISO-NE) have dropped due to drought conditions in Canada and lower U.S. Northeast electricity demand, the U.S. Energy Information Administration (EIA) said in a report on Friday. The EIA noted that from January to August 2025, imports into … Read more
Summary Estonia accuses Russia of violating its air space Four Western nations recognise Palestinian state Iraq increases oil exports after OPEC+ relaxes quota (Reuters) – Oil prices were little changed on Monday as concerns over Russia and the Middle East were countered by oversupply jitters. Brent crude oil futures , which have traded between around … Read more
Summary State leaders plan PJM Governors’ Collaborative for greater influence over PJM grid Capacity payments rise 1,000% due to data center demand and stagnant power supply Governors seek formal role in PJM, inspired by Midwest and New England models (Reuters) – Governors of more than a quarter of U.S. states are pushing for greater influence … Read more
Iraq has increased oil exports following the gradual unwinding of voluntary production cuts under an OPEC+ agreement, the country’s state oil marketer SOMO said on Sunday. Earlier this month, eight members of OPEC+ agreed to raise production from October by 137,000 barrels per day. OPEC+ has been increasing production since April after years of cuts … Read more
Summary Large oil supplies, declining demand push prices lower Refinery turnaround season will also cut demand for crude Benchmarks gain for a second straight week (Reuters) – Oil prices dropped on Friday as worries about large supplies and declining demand outweighed expectations that the year’s first interest-rate cut by the U.S. Federal Reserve would trigger … Read more
Summary EU proposes 19th package of sanctions against Russia US president has urged Europe to up pressure on Moscow Proposal needs approval from EU member states to pass Russia has shrugged off prospect of more energy sanctions BRUSSELS, Sept 19 (Reuters) – The European Union plans to ban Russian LNG imports into the bloc a year earlier … Read more
U.S. energy firms this week added oil and natural gas rigs for a third week in a row for the first time since February, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by three to 542 in … Read more
Democratic U.S. senators urged Trump officials on Friday to resume targeted sanctions on Russian energy supplies, saying the administration is allowing China to buy shipments of Russia’s liquefied natural gas which helps support the war on Ukraine. President Donald Trump has said he is frustrated with Russian President Vladimir Putin’s failure to reach a peace … Read more
Summary Indigenous equity ownership rising in Canadian energy projects First Nation taking on up to C$1.4 billion in debt to finance stake Some other LNG projects face Indigenous opposition (Reuters) – When Maureen Nyce, the new chief of the Haisla First Nation, donned a hard hat and safety vest for an August visit to the … Read more
By Liam Denning Projects worth nearly $42 billion have been delayed, shrunk or canceled since Trump’s inauguration. The capriciousness of US energy policy under President Donald Trump increasingly looks like a feature rather than a bug. A nearly built offshore wind project is suddenly blocked on spurious grounds. A giant transmission project ready to be … Read more
Microsoft on Thursday said it plans to build a second massive artificial intelligence data center in Wisconsin, bringing its spending in the state to more than $7 billion. The new $4 billion project will join a $3.3 billion data center in Mount Pleasant in the southeastern corner of the state, announced last year. Microsoft said … Read more
By Kevin Crowley An Exxon Mobil Corp. oil drilling rig near Stanton, Texas. Photographer: Justin Hamel/Bloomberg Exxon Mobil Corp. will pursue fossil fuel growth long into the future to meet demand it says will “not materially change” between now and 2050. The Texas oil major is not concerned with “chasing the narrative of the week” … Read more
By Ron Bousso Chinese oil storage increasingly vital for market, but data is obscure IEA, OPEC offer widely divergent estimates for oil demand growth Growing sanctions-busting fleet of tankers complicates oil tracking LONDON, Sept 18 (Reuters) – Growing blind spots in the oil market driven by geopolitics are making it harder to determine the true … Read more
Summary High distillate stockpiles add to concerns over demand Market caught between conflicting signals, says analyst Benchmarks remain on track for second straight weekly gain EU will propose ban on Russian LNG by 2027, sources say (Reuters) – Oil prices dropped on Friday as worries over fuel demand outweighed expectations that the year’s first interest … Read more
The U.S. could experience some oversupply of liquefied natural gas between 2027 and 2029, but supply will tighten in 2030, Toby Rice, the CEO of natural gas producer EQT Corp, told Reuters on Thursday. Rice was speaking on the sidelines of a conference in Houston. TotalEnergies CEO Patrick Pouyanne warned earlier this month of a … Read more
By Julia Payne BRUSSELS, Sept 18 (Reuters) – The European Commission is discussing a proposal to bring forward a ban on Russian liquefied natural gas in a new package of sanctions against Moscow over its invasion of Ukraine, an EU official said. The new push follows a call between European Commission chief Ursula von der … Read more
Drones hit major oil sites in Bashkortostan and Volgograd Salavat complex working as usual – TASS Some Russia’s regions face fuel shortages KYIV/MOSCOW, Sept 18 (Reuters) – Ukraine said on Thursday that its drones had struck a major oil processing and petrochemical complex and an oil refinery in Russia, part of an intensifying campaign to … Read more
Exxon Mobil is seeing benefits to its bottom line with the use of artificial intelligence, including by drilling wells more quickly, Dan Ammann, Exxon’s president of upstream, said on Thursday. The U.S. oil producer is also using AI to help remotely monitor some operations, Ammann said while speaking at the BNEF Summit in Houston.
By Kevin Crowley Exxon Mobil Corp. called for European leaders to repeal a new climate and human rights law that would fine corporations and is threatening to become a flashpoint in US-EU trade negotiations. Designed to root out human rights abuses and improve environmental standards, critics say the European Union’s Corporate Sustainability Due Diligence Directive … Read more
By Keira Wright and Manuel Baigorri Amid final negotiations to seal the $19 billion takeover of Santos Ltd., suitors led by Abu Dhabi National Oil Co. were alerted to media reports of a methane leak at one of the Australian producer’s operations. Less than three weeks later, the deal was dead. The consortium was unsettled … Read more
U.S. oil major Exxon Mobil has no plans to resume operations in Russia, Chief Executive Darren Woods told the Financial Times in an interview on Thursday. The company pulled out of Russia in 2022 after Western sanctions were imposed over Moscow’s invasion of Ukraine, writing off billions of dollars from its exit. Exxon executives are … Read more
Summary Brent, WTI oscillated between gains and losses in European trading Fed chair highlighted concerns about job market Market concerned by rising supply, US demand concerns (Reuters) – Oil prices edged higher on Thursday after the Federal Reserve cut interest rates as traders weighed the start of looser monetary policy against concerns about the U.S. … Read more
By Kate Duffy A Bill Gates-backed investment fund is teaming with British Airways parent IAG SA, American Airlines Group Inc. and Cathay Pacific Airways Ltd. to accelerate the production of sustainable aviation fuel. Breakthrough Energy Ventures and about 10 carriers are committing $150 million to support early-stage SAF startups moving through the development phase, IAG … Read more
By Alex Longley The world needs to spend some $540 billion a year looking for oil and gas to maintain current output by 2050 as the pace of declines in existing fields increases, according to the International Energy Agency. Faster decline rates, in part because of an increased global dependency on US shale, mean that … Read more
By Anthony Di Paola and Keira Wright Abu Dhabi National Oil Co. dropped its planned $19 billion takeover of Australian natural gas producer Santos Ltd., walking away from an ambitious effort to expand overseas after failing to agree on key terms. A “combination of factors” discouraged the company’s XRG unit from making a final bid, … Read more
Poland has urged European Union member states that are still buying Russian energy to end those imports by the end of 2026 and will offer them help towards that effort, Energy Minister Milosz Motyka said on Wednesday. The Druzhba oil pipeline delivers Russian oil to Hungary and Slovakia, which continue to buy energy supplies from … Read more
Germany is putting into operation natural gas import terminals as part of efforts to replace piped Russian gas following Moscow’s invasion of Ukraine in 2022. Its first move has been to deploy floating storage regasification units (FSRUs) to receive seaborne LNG, while long-term it is planning shore-based facilities to import and produce ammonia and green … Read more
By Jarrett Renshaw EPA proposes two primary options of 50% and 100% reallocation Biofuel industry pushing for maximum but refiners balking at cost Industry representatives say EPA’s proposal fails to provide clarity Sept 16 (Reuters) – The U.S. Environmental Protection Agency on Tuesday issued a proposal for reallocating to large refineries the biofuel blending obligations … Read more
Puerto Rico has negotiated a $4 billion liquefied natural gas contract with New Fortress Energy, Governor Jenniffer Gonzalez said on Tuesday in a post on social media. The supply deal, which comes after talks for a much larger contract broke down in July, reduced the term to seven years from 15 years – with the … Read more
(Reuters) – The European Commission will propose speeding up the phase-out of Russian fossil imports, the European Union executive’s head Ursula von der Leyen said on Tuesday after a call with U.S. President Donald Trump. Von der Leyen said that she had a call with Trump on strengthening joint efforts to increase economic pressure on … Read more
Summary Concerns over potential Russian supply disruption support prices Markets eye Fed meeting for clues on economy US crude stockpiles fell last week, industry data shows (Reuters) – Oil prices eased on Wednesday, after rising more than 1% in the previous session, though ongoing geopolitical jitters provided a floor for the market, with traders eyeing … Read more
WaterBridge Infrastructure raised $634 million in an initial public offering in the United States, the oilfield water management firm said on Tuesday, in the latest sign of renewed momentum in the listings market. The Houston, Texas-based company sold 31.7 million shares at $20, at the higher end of its marketed range of $17 to $20 … Read more
By Ahmad Ghaddar LONDON, Sept 16 (Reuters) – OPEC+ delegates are planning to meet in Vienna on Thursday and Friday to discuss the methodology for assessing maximum production capacities for the 22-member producer group, two delegates told Reuters on Tuesday. The issue is contentious because some members such as the United Arab Emirates have increased … Read more
Japan’s top power generator JERA is in advanced talks to buy natural gas production assets in the U.S. for around $1.7 billion, people familiar with the matter said, the latest example of the Asian nation investing in America’s energy sector. JERA emerged as the top bidder for the assets owned by GEP Haynesville II, a … Read more
September 15, 2025 The Rt. Hon. Mark Carney, PC, MP Dear Prime Minister of Canada Six months have passed since the first “Build Canada Now” letter was sent to you and the leaders of Canada’s other political parties outlining an action plan to unlock Canada’s world class oil and natural gas resources to strengthen Canada’s … Read more
By Gavin Maguire LITTLETON, Colorado, Sept 16 (Reuters) – The outlook for wind speeds around the United Kingdom this autumn and winter will likely be decisive for the UK’s gas market over the coming months, with potentially far-reaching consequences for Europe’s gas and power arenas. Any extension of the below-normal wind farm output seen so … Read more
By Thomas Seal Canada cleared a C$10 billion ($7.3 billion) floating facility to export liquefied natural gas off its northwest coast as soon as 2028. Ksi Lisims LNG — backed by Blackstone Inc.-funded Western LNG, as well as Rockies LNG Partners and the Nisga’a Nation, an Indigenous group that owns the development land — is … Read more
By Emma Sanchez Natural gas cash prices in West Texas, which dipped below zero in recent days, sank to the lowest in almost 14 months, as traders expect pipeline maintenance in the area to stifle movement of the fuel for some time. Gas for next-day delivery at the Waha hub in the prolific Permian region … Read more
Plains All American’s crude oil pipelines linking the Permian shale basin to the Corpus Christi export hub are facing quality issues related to high mercaptans, or naturally-occurring sulfur compounds, according to sources familiar with the matter and a notice seen by Reuters. Plains in recent days has sent notices to shippers that it will begin … Read more
(Reuters) – The natural rate of decline in output from the world’s oil and gas fields is speeding up, owing to more reliance on shale and deep offshore resources, the International Energy Agency said on Tuesday. That means companies will need to step up the pace of investment just to keep output flat. The report … Read more
Summary Cattle suppliers to Diamond Green Diesel linked to Amazon deforestation Airlines such as JetBlue and Southwest have bought fuel from Diamond Supporters say fuel made from beef tallow is unlikely to encourage illegal ranching XINGUARA, Sept. 16 (Reuters) – A Texas refinery that supplies green fuel to U.S. airlines has been purchasing animal fat … Read more
A U.S. court on Monday begins the final sale hearing of an auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum to pay creditors, following heavy competition for the seventh largest U.S. refiner. A court officer overseeing the auction in August changed his recommendation of winner to a $5.9 billion offer by an … Read more
China accused the United States of “unilateral bullying” in calling on allies to impose tariffs on China over its purchase of Russian oil, fueling tensions as Chinese and U.S officials meet in Spain to try to resolve trade disputes. China opposes Washington’s request that the Group of Seven and NATO countries impose secondary tariffs on … Read more
HOUSTON–(BUSINESS WIRE)–Woodside Energy today celebrated the rapid progress in developing the $17.5 billion Louisiana LNG Project at a groundbreaking ceremony attended by leaders from the local community and state and federal governments. Since announcing a final investment decision (FID) on the project on 29 April 2025, the construction workforce has ramped up to almost 900 … Read more
Summary Russia oil supplies in focus after drone attacks Markets eye Fed meeting for clues on macroeconomy Analysts expect US crude inventory declines last week (Reuters) – Oil prices held steady on Tuesday as markets weighed potential supply disruption from Russia after Ukrainian drone attacks on its refineries and the prospect of a U.S. central … Read more
Summary SB 237 aims to reduce fuel prices by boosting local oil production Oil-rich Kern County to receive up to 2,000 drilling permits annually California targets 25% in-state crude supply to refineries (Reuters) – California lawmakers passed a bill over the weekend that would allow the construction of thousands of new oil wells annually … Read more
Harnessing fusion energy for electricity is possible in the next decade, US Energy Secretary Chris Wright told Bloomberg Television. “I believe we will know the commercial pathway to fusion during the Trump administration,” Wright said, echoing comments he’s made previously. “Commercial electricity from fusion energy could be as fast as eight years and I’d be … Read more
HOUSTON, Sept. 15, 2025 /PRNewswire/ — Chord Energy Corporation (NASDAQ: CHRD) (“Chord”, “Chord Energy” or the “Company”) today announced that a wholly owned subsidiary of Chord has entered into a definitive agreement to acquire assets in the Williston Basin from XTO Energy Inc. and affiliates (collectively, “XTO”), subsidiaries of Exxon Mobil Corporation, for total cash consideration of $550 … Read more
By Arathy Somasekhar and Curtis Williams Woodside bullish on LNG demand despite TotalEnergies’ market glut warning Louisiana LNG facility is largest foreign investment in state’s history Exports to target Europe and Asia, starting in 2029 (Reuters) HOUSTON, Sept 15 – Woodside Energy expects global LNG demand to grow 50% over the next decade, CEO Meg … Read more
(Reuters) – U.S energy firm Chord Energy said on Monday it would buy assets in the Williston Basin from Exxon Mobil’s unit XTO Energy for $550 million. The Williston Basin is located in parts of North Dakota, Montana and Canada, and is a major U.S. shale oil and gas region centered by the Bakken formation. The … Read more
(Reuters) – U.S. Treasury Secretary Scott Bessent said on Monday that the Trump administration would not impose additional tariffs on Chinese goods to halt China’s purchases of Russian oil unless European countries hit China and India with steep duties of their own. Bessent told Reuters and Bloomberg in a joint interview that European countries needed … Read more
(Reuters) – Mexico launched on Monday a three-tranche bond issue for up to 5 billion euros ($5.88 billion) to partially finance a $9.9 billion bond buyback from state-run oil company Pemex, LSEG’s fixed-income news service IFR reported. The issue consists of four-year bonds for up to 2.25 billion euros, eight-year bonds for 1.5 billion euros, … Read more
(Reuters) – HSBC expects a big oil surplus of 1.7 million barrels per day (mbd) from the fourth quarter of 2025, and a surplus of 2.4 mbd in 2026, exacerbated by the return of OPEC+ barrels over the next 12 months, it said in a note on Monday. At its meeting this month, OPEC+ opted … Read more
(Reuters) – U.S. natural gas prices for Monday in the Permian shale basin in West Texas turned negative as autumn pipeline maintenance and other constraints trap gas in the nation’s biggest oil-producing basin. Financial company LSEG said that average gas output in the Lower 48 states has dropped to 107.6 billion cubic feet per day … Read more
(Reuters) – Canadian oil sands producer MEG Energy on Monday urged shareholders to reject the sweetened takeover bid from its majority stakeholder Strathcona Resources and reaffirmed support for sale to Cenovus Energy. “The revised Strathcona offer remains fundamentally unattractive,” said James McFarland, chair of MEG’s board, citing exposure to inferior assets, an overvalued Strathcona share price … Read more
(Reuters) – The Trump administration asked a federal judge to cancel the 2024 approval of a wind farm off the coast of Maryland, saying former U.S. President Joe Biden’s administration had underestimated threats it would cause to search and rescue operations and commercial fisheries, according to court documents filed on Friday. If approved by the court, the … Read more
Summary Ukraine attacks more Russian energy facilities over the weekend Trump presses NATO nations to halt Russian oil purchases US-China officials in Madrid for trade talks (Reuters) – Oil prices edged higher on Monday as investors assessed the impact of Ukrainian drone attacks on Russian refineries, while U.S. President Donald Trump said he was prepared to impose … Read more
U.S. President Donald Trump issued a letter to NATO nations on Saturday, urging them to stop buying Russian oil and impose major sanctions on Russia to end its war in Ukraine. “I am ready to do major sanctions on Russia when all NATO nations have agreed, and started, to do the same thing, and when … Read more
Summary Trump to make second state visit to Britain September 16-18 Britain hopes royal welcome will appeal to Trump Tariff rates for steel and aluminium still to be finalised Tech partnership and nuclear energy deal to be announced Despite differences, Starmer and Trump have good relationship LONDON, Sept 15 (Reuters) – The United States and … 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
By Ruth Liao, Priscila Azevedo Rocha, Mitchell Ferman, and Alberto Brambilla Global gas traders are leaving a major industry conference in Milan without a clear consensus on when — or even if — demand from Chinese buyers will rebound, a key risk as liquefied natural gas supplies keep piling up. While European buyers clinched a … Read more
Takeaways by Bloomberg AI The Kirishi oil refinery, known as Kinef, was attacked by Ukrainian drones overnight, causing a fire that has been extinguished with no casualties. Ukraine’s Armed Forces confirmed the attack and said they are working to weaken Russia’s military and economic capabilities, with a focus on fuel, weapons, and ammunition production. A … Read more
Summary G7 finance ministers discuss possible tariffs on countries ‘enabling’ war in Ukraine US Treasury Secretary said countries should impose tariffs on purchasers of Russian oil Bessent heads to Madrid for more talks with Chinese counterpart WASHINGTON, Sept 12 (Reuters) – Group of Seven nations’ finance ministers discussed in a call on Friday further sanctions … Read more
By Yogi Schulz Breathless AI headlines promise superintelligence. However, in today’s oil and gas industry, the impact of AI is more practical—streamlining operations rather than inventing new exploration and production technologies or conquering new markets. There is a paradox in how AI’s current phase is influencing corporate strategy. While AI is touted as a path … Read more
By Erwin Seba Traders continue to worry over bearish US economic data Ukrainian drones strike Russia’s largest oil terminal Prices supported by Chinese buying and war risks Brent and WTI benchmarks fell sharply in previous session Sept 12 (Reuters) – Oil prices rose on Friday after a Ukrainian drone attack suspended loadings from the largest … Read more
By Keira Wright Satellite image of the Karratha Gas Plant at Woodside’s North West Shelf project. Source: Airbus, CNES/Airbus, Maxar Technologies/Google Maps Australia’s first and largest liquefied natural gas plant cleared the final hurdle to operate until 2070, after an almost seven-year process during which operator Woodside Energy Group Ltd. faced opposition from environmentalists and … Read more
(Reuters Breakingviews) – The fracking boom has already delivered one titanic surprise, making the United States the world’s largest oil producer in recent years. Long considered an environmental villain, this technology may have one more unexpected twist in store, inadvertently serving as a tool for accessing carbon-free electricity while undercutting costly alternatives like nuclear power. … Read more
Canada’s government is in discussions with energy companies and Alberta about eliminating a federal cap on emissions from the country’s oil and gas sector if the industry and province reduce their carbon footprint in other ways, three sources with knowledge of the talks said. The sources, who were not authorized to speak publicly about the … Read more
The global crude oil market is facing two long-term fundamental shifts that will change how cargoes flow around the world and how they are priced. The first factor is a supply and demand issue, with the vast majority of demand growth concentrated in Asia but the supply growth largely coming from the Americas outside of … Read more
Monthly average natural gas spot prices in the Northwestern U.S. have hit record lows this year, driven by increased Canadian gas supply and muted regional demand for natural gas-fired power, the Energy Information Administration said on Thursday. Daily spot prices at the Northwest Sumas hub averaged $1.59 per million British thermal units (MMBtu) through August, … Read more
U.S. Energy Secretary Chris Wright downplayed the risks of climate change as he promoted Washington’s return to a “commonsense energy policy” on Thursday, while the Trump administration worked to boost oil and gas sales to Europe and other allies. Wright spoke to reporters after meeting the European Union’s energy commissioner Dan Jorgensen in Brussels. U.S. … Read more
Summary IEA expects oversupply to increase with OPEC+ output boost Prices supported by Chinese buying and war risks Brent and WTI benchmarks fell sharply in previous session (Reuters) – Oil prices steadied on Friday as concern about oversupply and weaker U.S. demand were offset by supply disruption risks from conflict in the Middle East and Ukraine Brent … Read more
By Ruth Liao and Nathan Risser Phillips 66 is looking to buy liquefied natural gas from the US through long-term contracts and is hiring staff in Houston to do this, according to people familiar. The discussions are preliminary, according to the people, who asked not to be named because the talks were private. In a … Read more
(Reuters) – The European Union could phase out Russian gas within six to 12 months by replacing it with U.S. liquefied natural gas, and the United States communicated this position to EU officials this week, U.S. energy secretary Chris Wright told Reuters on Friday. Wright was speaking in Brussels, where he met EU energy commissioner … 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 said in its Short-Term Energy Outlook on Tuesday. EIA projected that dry gas production will rise from 103.2 billion cubic feet per day in 2024 to 106.6 bcfd in 2025 … Read more
By Brian Platt and Laura Dhillon Kane An LNG carrier is loaded at the LNG Canada docks in Kitimat, British Columbia. Photographer: James MacDonald/Bloomberg Prime Minister Mark Carney wants to speed construction of a major expansion of LNG Canada, a large-scale liquefied natural gas export project on Canada’s west coast. Shell Plc and its Asia-based … Read more
The EU is sticking to its deadline to phase out Russian oil and gas imports by 2028, EU Energy Commissioner Dan Jorgensen said on Thursday after a meeting with U.S. Energy Secretary Chris Wright. The EU is negotiating legal proposals to completely phase out imports of Russian oil and gas by January 1, 2028, with … Read more
(Reuters) – Saudi Arabia’s crude oil exports to China are set to surge in October after a deep cut in prices, several trade sources said on Thursday. State oil company Saudi Aramco will ship about 51 million barrels to China in October, about 1.65 million barrels per day (bpd), a tally of allocations to Chinese refiners … Read more
Summary IEA expects global supply to rise by 2.7 million bpd in 2025 Raises demand growth forecast this year to 740,000 bpd Implied surplus to exceed 3 million bpd in 2026 OPEC forecasts due later on Thursday LONDON, Sept 11 (Reuters) – World oil supply will rise more rapidly than expected this year as OPEC+ … Read more
Energy developer Glenfarne will supply Japan’s biggest power generator, JERA, with one million metric tons of LNG annually for 20 years, an advance for the $44 billion Alaska LNG project that has attracted doubts because of its high costs. Glenfarne is targeting a final investment decision (FID) for the Alaska LNG pipeline in late 2025 … Read more
A group of investors led by BlackRock’s Global Infrastructure Partners is in talks with lenders to secure up to $10.3 billion in financing for Aramco’s Jafurah infrastructure deal, two sources with direct knowledge of the matter told Reuters. Banks including JPMorgan and Japan’s Sumitomo Mitsui Banking Corporation are in talks to participate in the transaction, … Read more
(Reuters) – Norway’s Green Party played a crucial role in the re-election of the Labour-led government on Monday by securing 4.7% of the vote and ensuring Labour and its allies have 87 seats in parliament – two more than needed to hold a majority. Here is a look at the Greens’ main energy policy proposals, their potential impact, … Read more
Summary IEA expects oversupply to increase with OPEC output boost EIA reports bigger than expected rise in oil stocks US consumer prices data due later on Thursday (Reuters) – Oil prices held steady on Thursday as worries over softening U.S. demand and broad oversupply risks were offset by concerns over attacks in the Middle East … Read more
Ron Bousso Summary US presses Europe to cut Russian energy purchases Interior secretary says US can replace Russian gas volumes But that would increase US share of EU’s LNG imports to over 70% (Reuters) – It may appear quite audacious for the world’s largest natural gas producer to demand that its biggest market stop buying … Read more
(Reuters) – U.S. Energy Secretary Chris Wright said President Donald Trump’s priority is to bring the Russia-Ukraine war to an end, without larger disruptions, when asked how the U.S. would react to Chinese purchases of sanctioned Russian LNG cargoes. “President Trump’s single greatest goal is prosperity in America and peace abroad,” Wright said in a … Read more
(Reuters) – Cenovus Energy does not plan to increase its takeover offer for oil sands producer MEG Energy, despite a higher bid from Strathcona Resources, CEO Jon McKenzie told Bloomberg News in an interview on Wednesday. Reporting by Sumit Saha in Bengaluru; Editing by Krishna Chandra Eluri
ConocoPhillips must sharpen its focus on capital discipline and investment priorities in order to regain its competitiveness against peers as oil prices and revenues fall, investors and analysts said, after the company announced last week it would lay off up to 25% of staff to cut costs. The third-largest U.S. oil producer joins majors Chevron and BP, … Read more
By Laila Kearney Baker Hughes to collaborate on 500-megawatt project Geothermal energy gains interest from Big Tech for AI power needs CTR’s Hell’s Kitchen project spans 4,500 acres near Salton Sea Baker Hughes to help raise capital for Hell’s Kitchen project NEW YORK, Sept 9 (Reuters) – U.S. oilfield services firm Baker Hughes (BKR.O) is … Read more
The Gazprom PJSC Atamanskaya compressor station, part of the Power of Siberia 1 gas pipeline, near Svobodny, Russia. Photographer: Andrey Rudakov/Bloomberg Russia and China appear to be moving forward with a major natural gas pipeline between their countries after years of stalled negotiations. Russian energy giant Gazprom PJSC said it has signed a legally binding … Read more
Producers are slashing head count as OPEC+ hikes threaten to weaken prices further. Roustabouts, roughnecks and petroleum engineers in US oil fields are facing the deepest job cuts since crude prices crashed three years ago, and the prospects of an upturn any time soon are looking bleak. Employment slid 1.7% last month to levels not … Read more
(Reuters) – HSBC’s latest oil market supply and demand model envisions OPEC+ gradually unwinding 1.65 million barrels per day in “first-phase” voluntary production cuts over a 12-month period, the bank said in a note on Tuesday. The bank’s oil market model had previously assumed that OPEC+ would take a breather after unwinding 2.2 million barrels … Read more
(Reuters) – The U.S. solar industry is at risk of installing 27% less capacity between 2026 and 2030 than before the passage of President Donald Trump’s tax law that rolled back subsidies for such projects, a key trade group said in a report on Monday. WHY IT’S IMPORTANT The forecast by the Solar Energy Industries … Read more
Summary Israeli strike on Hamas leadership in Qatar supports prices Trump asks EU to put tariffs on China, India to pressure Russia Longer-term outlook still for oversupply as OPEC+ ups production (Reuters) – Oil prices rose on Wednesday after Israel attacked Hamas leadership in Qatar, Poland shot down drones and the U.S. made a push … 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 (STEO) on Tuesday. The EIA projected power demand will rise to 4,187 billion kilowatt-hours (kWh) in 2025 and 4,305 billion kWh in 2026, up from a record 4,097 billion kWh in 2024. … Read more
(Reuters) – Exxon Mobil expects strong growth in demand for liquefied natural gas (LNG) in China, driven by transport and marine sectors, and sees rising opportunities in new markets across Asia Pacific, Africa and Latin America, a senior company executive told Reuters on Tuesday. China, the world’s largest LNG importer, signed deals on September 2 … Read more
(Reuters) – U.S. oil major Chevron is in early-stage talks to explore opportunities in European regasification terminals, as part of its strategy to expand its global presence in the liquefied natural gas market, a senior executive told Reuters. The U.S. has become Europe’s top LNG supplier since the continent sharply reduced its imports of Russian … Read more
The revival of a project that would transport Russian gas to China has the potential to upend Trump’s plans for energy dominance. By Liam Denning It’s a potential prize fight for the ages: US “energy dominance” versus the Power of Siberia. A proposed pipeline to bring natural gas from Russia, across Mongolia and into northern … Read more
By Mitchell Ferman, Alberto Brambilla, and Anna Shiryaevskaya Exxon Mobil Corp. and Chevron Corp. are bullish on China’s future appetite for liquefied natural gas even if Russia succeeds in adding another pipeline to the Asian nation. That’s because China, the world’s largest coal consumer, still has a long way to go to switch to cleaner … Read more
By Ishika Mookerjee Clean energy projects focused on geothermal and nuclear power have the potential to unlock huge returns for investors, according to an executive at BlackRock Inc.’s Global Infrastructure Partners. “Geothermal is a part of energy dominance, nuclear is a part of energy dominance,” said Salim Samaha, head of transition fund at the infrastructure investor, which … Read more
Download as PDF Diversified Energy Expanding Leadership Position in Oklahoma with Accretive Acquisition of Canvas Energy Delivers Approximately 18% and 29% Increase in Adjusted EBITDA and Free Cash Flow, Driven by a 13% Increase in Production While Adding Proved Reserves Complementary Producing Assets and Adjacent Acreage Expected to Drive Meaningful Synergies and Asset Optimization Opportunities … Read more
Cenovus Energy Inc. has signed a deal to sell its 50 per cent stake in WRB Refining LP to its joint venture partner Phillips 66 for about $1.9 billion. The WRB joint venture includes the Wood River Refinery in Illinois and the Borger Refinery in Texas. The operations have combined crude throughput capacity of 495,000 … Read more
Ron Bousso (Reuters) – The recent wave of Ukrainian drone attacks on Russian oil refineries and export facilities could boost global refining profit margins – particularly those in the U.S. – just as the peak summer demand season fades. Ukrainian attacks have shut down facilities accounting for at least 17% of Russia’s oil processing capacity, … Read more
Reuters) – Oil refinery-state lawmakers led by Senator Mike Lee, a Republican from Utah, will introduce legislation on Tuesday to block President Donald Trump from shifting renewable fuel blending obligations from small refineries to larger ones, according to draft legislation seen by Reuters. The bill reflects the politically-divisive nature of the U.S. biofuels policy, which pits the … Read more
By Stephen Stapczynski China appears to be setting up a system to import regular cargoes of liquefied natural gas from a Russian project sanctioned by the US, a move that will test the Trump administration’s willingness to penalize Beijing in its efforts to curb Moscow’s energy revenue. Having taken the first-ever overseas export from the … Read more
By Anna Shiryaevskaya, Ruth Liao, and Stephen Stapczynski The global market for liquefied natural gas faces a multiyear supply glut starting in 2026, potentially pushing prices for the crucial fuel to the lowest since the energy crisis triggered by Russia’s full-scale invasion of Ukraine. After four years of tight markets, the International Energy Agency expects … Read more
(Reuters) – Fermi, a Texas company co-founded by former U.S. Energy Secretary Rick Perry, on Monday filed for an initial public offering in the United States, as companies rush to tap investor enthusiasm for new issues. The terms of the offering were not disclosed. Wall Street’s IPO season is off to a strong start post-Labor … Read more
Recent gas agreements between China and Russia are unlikely to weaken Asian demand for U.S. liquefied natural gas (LNG), according to Michael Sabel, CEO of Venture Global LNG, the second-largest U.S. exporter of the fuel. China, the world’s largest LNG importer, signed deals on September 2 to boost gas supply through the existing Power of … Read more
(Reuters) – Sentiment in the crude oil market has shifted to expecting prices to decline, with the debate at the industry’s biggest gathering in Asia more about timing than direction. The topic of presentations and conversations at the annual APPEC conference is always dominated by the outlook for prices, and this week’s event was no … Read more
Summary Oil and gas producers cut $2 bln in expenditure, Reuters analysis shows US oil rig counts have fallen by 69 this year Trump’s trade policies and tariffs push up material costs HOUSTON, Sept 8 (Reuters) – The U.S. oil industry has laid off thousands of workers and cut billions in spending due to lower … Read more
Summary Brent and U.S. crude rise about 1% Threat of tighter sanctions on Russian oil also underpins market China to carry on stockpiling oil in 2026, Gunvor official says (Reuters) – Oil extended gains on Tuesday, supported by the latest oil output hike from OPEC+ being smaller than anticipated, expectations that China will continue stockpiling … Read more
(Reuters) – Barclays on Monday lowered its Brent crude oil price forecast for 2026 by $4 to $66 a barrel, citing expectations that OPEC+ will fully unwind voluntary production cuts by September next year. The bank said OPEC+’s weekend decision to raise October production targets by 137,000 barrels per day (bpd) was “the group initiating … Read more
By Haslinda Amin The decision by OPEC+ to once again raise production may have been more modest than expected, but oil prices could still tumble below $60 a barrel into the end of the year and the start of 2026, FGE NexantECA Chairman Emeritus Fereidun Fesharaki said on Bloomberg Television. The Organization of the Petroleum … Read more
The Kremlin said on Monday that no sanctions will ever be able to force Russia to change course on Ukraine, just hours after both the United States and European Union indicated they were considering additional sanctions. The West has imposed thousands of different sanctions on Russia over the 2022 war in Ukraine and the 2014 … Read more
China’s total oil demand including all products is set to peak in 2027, with a rise of about 100,000 barrels per day this year driven by increased volumes from the petrochemicals sector, a state oil researcher said on Monday. Surging usage of electric vehicles in China, the world’s biggest oil importer, is eroding fuel demand, … Read more
Japan has hired energy consultancy Wood Mackenzie to assess a proposed 800-mile Alaska gas pipeline and LNG plant in a sign it is weighing support for the $44 billion project touted by U.S. President Donald Trump, two sources with knowledge of the matter said. The assessment could help assuage lingering concerns among potential Japanese off-takers … Read more
The Trump administration is more willing to support loan guarantees and tax breaks for nuclear power than for wind and solar because it is “more American” than those forms of energy, the director of the U.S. Energy Dominance Council said on Thursday. Jarrod Agen said nuclear power is more likely to be made from U.S.-made … Read more
By Microwatt Controls. Calgary, Canada. For over four decades, Microwatt has proudly stood at the forefront of industrial safety, gas detection, and automation solutions. We’ve been trusted partners to organizations across Western Canada, helping shape safer, smarter, and more connected industrial environments. As we celebrate our 41st year, we’d like to thank our … Read more
U.S. energy firms this week added oil and natural gas rigs for the first time in seven weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by one to 537 in the week to September 5. Despite … Read more
Summary Eight OPEC+ members to lift output by 137,000 bpd from October Russia hits Ukraine with biggest air attack of war Trump says European leaders to visit US over Russia-Ukraine war LONDON, Sept 8 (Reuters) – Oil prices climbed more than $1 on Monday, regaining some of last week’s losses, after OPEC+’s output hike was … Read more
OPEC+’s surprise announcement that it will further accelerate oil production may seem like a threat to an already oversupplied market, but the actual market impact is likely to be limited. The same cannot be said of the political benefits for the group’s leader Saudi Arabia, which is seeking to reassert group discipline while expanding its … Read more
Eight Opec+ members agreed to raise oil production by 137,000 bpd in October, the group said in a statement on Sunday. The group’s statement cited steady global economic outlook and current healthy market fundamentals.The countries will meet on 5 October.
U.S. President Donald Trump said on Sunday he is ready to move to a second phase of sanctioning Russia, the closest he has come to suggesting he is on the verge of ramping up sanctions against Moscow or its oil buyers over the war in Ukraine. Trump has repeatedly threatened Moscow with further sanctions but … Read more
OPEC+ is set to agree to further raise oil output on Sunday, while probably slowing the pace of increases from October compared with recent months because of weakening global demand, an Iraqi official and OPEC+ sources said. OPEC+, which includes the Organization of the Petroleum Exporting Countries plus Russia and other allies, has reversed its … Read more
U.S. oilfield services provider Halliburton has been cutting staff in recent weeks, according to two sources familiar with the matter, marking the latest workforce reduction in the U.S. oil industry as it faces rising costs and a period of lower prices and volatility. Global benchmark Brent crude oil prices have dropped more than 10% this … Read more
(Reuters) – U.S. crude and distillate inventories rose while gasoline stocks fell last week, the Energy Information Administration said on Thursday. Crude inventories rose by 2.4 million barrels to 420.7 million barrels in the week ended August 29, the EIA said, compared with analysts’ expectations in a Reuters poll for a 2 million-barrel draw. Crude … Read more
Summary Crude down 2%, third consecutive session of losses US crude inventories rise by 2.4 million barrels OPEC+ to consider further output hike on Sunday, sources say HOUSTON, Sept 5 (Reuters) – Oil prices fell on Friday as a weak U.S. jobs report dimmed the outlook for energy demand, while swelling supplies may grow further … Read more
U.S. Energy Secretary Chris Wright said on Friday he is not worried that Russia’s sale of gas to China would affect U.S. oil and gas producers. Earlier this week, Russia and China gave their blessing to a gas pipeline called Power of Siberia 2, underscoring Chinese President Xi Jinping’s disregard for Western demands that he … Read more
ConocoPhillips CEO Ryan Lance told employees on Thursday that one of the reasons he had to cut up to 25% of the workforce was because the U.S. oil and gas producer had become less competitive as it focused on swallowing smaller rivals. Lance was speaking to employees in a town hall meeting a day after he … Read more
U.S. President Donald Trump on Friday said India and Russia appear to have been “lost” to China, following the Shanghai Cooperation Organisation (SCO) meeting in Beijing this week where their leaders stood alongside Chinese President Xi Jinping. “Looks like we’ve lost India and Russia to deepest, darkest, China. May they have a long and prosperous … Read more
Russia is open to cooperation with the United States in Alaska, but a political decision from Washington is needed to resume economic engagement, President Vladimir Putin told an economic forum in Russia’s far eastern city of Vladivostok on Friday. The U.S. has significant resource potential in Alaska, while Russia possesses effective technologies for oil and … Read more
Japan has confirmed its commitment to an annual $7 billion worth of energy purchases from the United States while exploring their new Alaskan liquefied natural gas (LNG) off-take agreement, a joint statement on the bilateral trade deal showed on Friday. The U.S. will also ensure it applies its lowest tariff rates to Japanese pharmaceuticals and … Read more
Summary EU pledged to buy more US energy as part of trade deal Hungary and Slovakia oppose ending Russian imports Russia’s oil and gas revenues have helped to fund Ukraine war (Reuters) – The European Union is sticking to its plans to phase out Russian oil by 2028, the bloc’s energy chief told Reuters on … Read more
Summary Orsted shareholders back $9.4 billion rights issue Group’s two US projects at risk in Trump’s war on wind power S&P Global warns equity raise offers limited relief from credit pressures Orsted’s shares down 85% from 2021 peak COPENHAGEN, Sept 5 (Reuters) – Danish offshore wind developer Orsted secured shareholder approval on Friday for a $9.4 … Read more
CALGARY, AB, Sept. 4, 2025 /CNW Telbec/ – Strathcona Resources Ltd. (“Strathcona“) confirmed that it has purchased 6,035,600 common shares (“MEG Shares“) of MEG Energy Corp. (“MEG“) today for aggregate consideration of approximately $172.7 million, in accordance with applicable securities laws. The average price paid for all MEG Shares purchased by Strathcona since the commencement of the Offer (as … Read more
Summary Crude down for a third consecutive session US crude inventories rise by 2.4 million barrels OPEC+ to consider further output hike on Sunday, sources say (Reuters) – Oil extended its decline into a third session on Friday, heading for a weekly loss for the first time in three weeks as expectations grow of higher … Read more
U.S. oil producer ConocoPhillips will begin company-wide layoffs as early as Nov. 10, the company said in a state notice sent to some employees on Thursday, seen by Reuters. On Wednesday, Reuters reported that ConocoPhillips CEO Ryan Lance informed employees in a video message that the company will cut 20-25% of its workforce as part … Read more
(Reuters) – Finland’s President Alexander Stubb said President Donald Trump in a call with European leaders on Thursday suggested the U.S. and Europe should act together on further sanctions against Russia, and that sanctions on oil and gas were up for discussion. “Trump’s approach was very much that we must act together on sanctions policy … Read more
By Gavin Maguire LITTLETON, Colorado, Sept 4 (Reuters) – U.S. power developers are planning to sharply boost natural gas and hydropower generation capacity and are cutting back on plans to add new solar and wind farms, according to recent data on the U.S. power capacity pipeline. As of mid-2025, U.S. power developers had just over … Read more
Norway’s energy ministry said on Thursday it has received applications from 20 oil and gas companies seeking exploration acreage in the government’s annual mature-areas (APA) licensing round. This year’s round will contain more acreage in the Arctic Barents Sea, part of Norway’s strategy to extend the life of its oil industry, the government has … Read more
International oil and gas companies have announced they would cut tens of thousands of jobs in 2024 and 2025 due to lower oil prices and as they consolidate after the biggest wave of mergers and acquisitions in the industry for decades.Benchmark Brent crude futures have fallen in 2025 as OPEC+ increases output and amid economic … Read more
Summary Hitachi to build massive new facility in Virginia for power transformers Investment aims to meet AI data centers’ electricity demand Hitachi’s global investment exceeds $9 billion NEW YORK, Sept 4 (Reuters) – Hitachi plans to invest $1 billion to expand its U.S. power grid infrastructure manufacturing, its energy unit said on Thursday, as the … Read more
PITTSBURGH, Sept. 3, 2025 /PRNewswire/ — EQT Corporation (NYSE: EQT) announced today that it has secured 1.5 million tonnes per annum (MTPA) of liquefaction capacity under a 20-year Sale and Purchase Agreement (SPA) with NextDecade Corporation (NextDecade) at Train 5 of the Rio Grande LNG export facility in Texas. The agreement will be on a … Read more
Summary OPEC+ to consider raising oil production further, sources say OPEC+ meeting set for Sunday US crude stocks rose last week, sources say (Reuters) – Oil prices fell 1.5% on Thursday, adding to their more than 2% decline the previous session, as investors awaited a weekend meeting of OPEC+ at which producers are expected to … Read more
Chinese President Xi Jinping shakes hands with Russian President Vladimir Putin at the Great Hall of the People, in Beijing, China, September 2, 2025. China Daily via REUTERS Summary Russia to increase natural gas exports to China China, Russia sign initial agreement to develop new pipeline, but price undecided China’s growing dependence on Russian pipeline … Read more
Venezuela’s oil exports surpassed 900,000 barrels per day in August, the highest level since November, after energy producer Chevron received a license that has allowed the OPEC country’s crude to return to the U.S. market after a four-month pause, shipping data showed. The U.S. Treasury Department last month issued a restricted authorization for Chevron, one … Read more
(Reuters) – The United States has told countries to reject a United Nations’ marine fuel emissions-cutting deal or face tariffs, visa restrictions and port levies, U.S. and European officials and sources told Reuters. The Trump administration is looking to boost U.S. economic might, including by taking a bigger role in global shipping, and has used … Read more
Takeaways by Bloomberg AI China has brought Power of Siberia 2 a step closer to becoming reality and appears to have agreed to expanded capacity on other routes, tightening its ties with Russia. The pipeline agreement and other concessions made by China are seen as a significant geopolitical message, with China hedging against its exposure … Read more
Takeaways by Bloomberg AI Energy Secretary Chris Wright says soaring US electricity prices are his biggest concern. Electricity prices across the country rose at more than twice the rate of overall inflation in the past year and are holding near a record high. Residential electricity prices have climbed about 10% from January until May and are … Read more
(Reuters) – Shell will not resume construction of a biofuels facility at its Shell Energy and Chemicals Park in Rotterdam after an in-depth evaluation found it would not be competitive, the company said on Wednesday. The project’s construction was paused in July 2024 due to weak market conditions. Shell in September 2021 had approved the development of … Read more
Venezuela’s government is slowly allowing the use of dollar-tied cryptocurrencies in currency exchanges for the private sector, a dozen sources said, as U.S. restrictions on oil exports reduce available foreign currency. Sanctions by the United States, which the Venezuelan government has characterized as “economic war,” prevent many business transactions, forcing companies seeking to buy raw … Read more
Summary Eight OPEC+ countries to meet on Sunday OPEC+ could also pause hikes for October, source says No immediate comment received from OPEC or Saudi authorities (Reuters) – OPEC+ will consider further raising oil production at a meeting on Sunday, two sources familiar with the discussions said, as the group seeks to regain market share. … Read more
Are you losing the energy data battle? In an industry where precision is power and every second counts, energy professionals are grappling with a growing crisis: data chaos. From the depths of legacy systems and local drives to the familiar clutter of spreadsheets, file boxes, and even handwritten notes, critical information is scattered and siloed, … Read more
(Reuters) – U.S. oil and gas producer ConocoPhillips will cut 20-25% of its workforce amid a broader restructuring program, a company spokesperson said on Wednesday. Shares of the company were down 4.7% to around $94. Employees received an email this morning containing a video message from CEO Ryan Lance detailing the plans, four ConocoPhillips sources … Read more
(Reuters) – Oil prices fell by about 2% on Wednesday ahead of a weekend meeting of OPEC+ producers that is expected to consider another increase in production targets in October. Brent crude fell $1.16, or 1.7%, to $67.98 a barrel by 1030 GMT. U.S. West Texas Intermediate crude fell $1.28, or 2%, to $64.31 a … Read more
By Dorothy Neufeld | Graphics/Design by Sabrina Lam Original: www.visualcapitalist.com/the-worlds-top-25-countries-by-oil-consumption/ Key Takeaways In 2024, U.S. oil consumption stood at 19 million barrels per day, a change of -0.1% from the previous year. China follows next, with 16.4 million barrels per day, changing -1.2% over the year. Over the past decade, India’s oil consumption has grown … Read more
(Reuters) – U.S. exports of liquefied natural gas (LNG) reached an all-time high in August as plants exited planned maintenance programs and Venture Global’s Plaquemines facility continued to increase output, preliminary data from financial firm LSEG show. August exports totaled 9.33 million metric tons, beating the previous monthly record set in April of 9.25 million … Read more
(Reuters) – U.S. President Donald Trump said on Tuesday he was “very disappointed” in Russian President Vladimir Putin and added without elaborating that his administration was planning to take some actions to bring down deaths in Russia’s war in Ukraine. The Republican leader also said he was not concerned about warm ties between Russia and … Read more
(Reuters) – EOG Resources CEO Ezra Yacob confirmed on Tuesday that the company’s project with the Abu Dhabi National Oil Company is running on schedule, with ADNOC drilling horizontal wells and testing oil to the surface at a shale block in the United Arab Emirates. Houston-based EOG Resources operates the block and had expected to … Read more
A slew of companies across sectors, ranging from crypto to consumer, launched IPO roadshows on Tuesday, kicking off the post-Labor Day fall window as investor anxiety over U.S. President Donald Trump’s tariffs started to ease. Analysts say the window through mid-October will be crucial, with several high-profile names lining up to gauge whether confidence in … Read more
CALGARY, AB, Sept. 2, 2025 /CNW/ – Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) announced today that it has reached a final investment decision on two attractive Gas Transmission projects. The Company signed commercial agreements for the Algonquin Reliable Affordable Resilient Enhancement project (AGT Enhancement) which is expected to increase deliveries on Algonquin Gas Transmission pipeline to … Read more
MIDLAND, Texas, Sept. 02, 2025 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”) today announced that its wholly owned subsidiaries have entered into a definitive agreement to sell their 27.5% equity interest in EPIC Crude Holdings, LP (“EPIC Crude”), an affiliate of EPIC Midstream Holdings LP, to a wholly owned subsidiary of Plains All American … Read more
CALGARY – Enbridge Inc. says it is going ahead with a pair of natural gas transmission projects. The company says it expects to spend US$300 million on the Algonquin Reliable Affordable Resilient Enhancement project which will increase deliveries from the Algonquin Gas Transmission pipeline to existing local distribution company customers in the U.S. Northeast. Subject … Read more
(Reuters) – Asia’s imports of crude oil rebounded in August as heavyweight buyers China and India bought more crude from top exporters in the Middle East. The world’s top importing region saw arrivals of 27.18 million barrels per day (bpd) in August, up from 24.91 million bpd in July and also above the 26.39 million … Read more
Summary Number of Western sanctions surges following Russia’s invasion of Ukraine Russian crude has traded above G7 price cap for most of the time China imports LNG from sanctioned Russian plant for first time in August (Reuters) – The complex web of Western sanctions targeting Russia’s oil and gas industry has failed to impede Moscow’s … Read more
Summary Equinor supports Orsted’s rights issue Will subscribe for shares worth up to $941 million Says it sees value in strategic collaboration with Orsted Will nominate candidate to Orsted’s board Orsted shares rise 4.7% COPENHAGEN/OSLO, Sept 1 (Reuters) – Norway’s Equinor will pump nearly $1 billion into Orsted’s emergency fundraising it said on Monday, bolstering the Danish offshore wind … Read more
Russian President Vladimir Putin, after talking with China’s Xi Jinping and India’s Narendra Modi, said on Monday the issue of NATO’s eastward enlargement would have to be addressed for there to be sustainable peace in Ukraine. Putin ordered tens of thousands of troops to invade Ukraine in February 2022 after eight years of fighting in … Read more
India is not “profiteering” from Russian oil imports and its purchases have stabilised markets while keeping prices from rising to as much as $200 a barrel, Hardeep Singh Puri, country’s oil minister, said in the Hindu newspaper on Monday. The U.S. has targeted India for its Russian oil purchases, with President Donald Trump imposing tariffs … Read more
(Reuters) – U.S. crude oil production hit a record high in June, the Energy Information Administration said on Friday, rising 133,000 barrels per day to 13.58 million bpd. Product supplied of crude and petroleum products in the U.S., a proxy for demand, rose 684,000 bpd in June to its highest since October 2024, at 21 … Read more
Venture Global could soon be producing liquefied natural gas from all blocks at its 27.2 million metric tons per annum Plaquemines facility, regulatory filings show. The company received permission on Friday to introduce nitrogen at Block 15, a precursory step toward natural gas production, according to an order from the Federal Energy Regulatory Commission. The … Read more
Summary Ukraine’s attacks force Russia to shut 17% of oil-processing capacity Bets on Federal Reserve rate cut buoy oil demand outlook US market reopens on Tuesday following Labour Day break (Reuters) – Oil prices rose almost 2% on Tuesday as concerns about supply disruptions grew amid an escalation of the conflict between Russia and Ukraine, … Read more
A summer trading lull looks set to come to a halt with September risks stacking up hard and fast. U.S. President Donald Trump’s decision to fire Federal Reserve Governor Lisa Cook and French political turmoil provide a glimpse of what’s to come in a month that historically brings notable market swings as investors reassess portfolios. … Read more
Russian drones knock out Ukraine power facilities Zelenskiy vows more strikes deep inside Russia OPEC+ due to meet on September 7 (Reuters) – Oil prices rose by more than 1% on Monday on concern over supply disruptions stemming from intensified Russia-Ukraine airstrikes as well as a weaker dollar. Brent crude was up 83 cents, … Read more
On the eve of a visit to China, Russian leader Vladimir Putin blasted Western sanctions as his country’s economy teetered on the brink of recession, wounded by trade curbs and the cost of his war in Ukraine. Russia and China jointly opposed “discriminatory” sanctions in global trade, Putin said in a written interview with China’s … Read more
California’s Energy Commission voted on Friday to temporarily set aside penalties for excessive refining profits that were adopted after gasoline pump prices climbed over $8 a gallon in 2022. The five-year delay in implementing the penalties comes as Phillips 66’s Los Angeles refinery is preparing to begin shutting production as early as next week ahead … Read more
Summary Appeals court on 7-4 vote rules against Trump’s tariffs Court delays ruling taking effect to allow for Supreme Court appeal Trump administration may have Plan B (Reuters) – A divided U.S. appeals court ruled on Friday that most of Donald Trump’s tariffs are illegal, undercutting the Republican president’s use of the levies as a … 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, 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 536 in … Read more
Summary OPEC+ supply increase expected to arrive in autumn Lackluster US demand expected as summer driving season ends Uncertainty over Russian supply impacts market sentiment Russian oil exports to India set to rise despite US pressure (Reuters) – Oil prices fell on Friday as traders looked toward weaker demand in the U.S., the world’s largest … Read more
By Erwin Seba OPEC+ supply increase expected to arrive in autumn Lackluster US demand expected as summer driving season ends Uncertainty over Russian supply impacts market sentiment Russian oil exports to India set to rise despite US pressure HOUSTON, Aug 29 (Reuters) – Oil prices fell on Friday as traders looked toward weaker demand in … Read more
(Reuters) – Canada named senior energy industry executive Dawn Farrell on Friday to lead a new office designed to fast-track the review and approval of natural resources projects such as mines and pipelines, a process that can take a decade. Prime Minister Mark Carney announced the major projects office earlier this year, saying streamlining will … Read more
(Reuters) – Iranian Oil Minister Mohsen Paknejad said on Friday a return of sanctions under the so-called “snapback” may create restrictions on oil exports but Tehran has learned to bypass them, Iran’s state media reported. Britain, France and Germany on Thursday launched a 30-day process to reimpose U.N. sanctions on Iran over its disputed nuclear … Read more
U.S. energy firms this week cut the number of oil and natural gas rigs operating 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, fell by two to 536 in the … Read more
Tensions between the United States and Venezuela are rising amid a large U.S. naval buildup in the Southern Caribbean and nearby waters, which U.S. officials say aims to address threats from Latin American drug cartels. U.S. President Donald Trump has made cracking down on drug cartels a central goal of his administration, part of a … Read more
Summary China receives first LNG cargo from sanctioned Russian project Putin to meet Xi at Shanghai Cooperation Organisation summit Potential signal for other buyers if no US reaction, analyst says SINGAPORE, Aug 29 (Reuters) – China received this week its first liquefied natural gas cargo from a sanctioned Russian project, ship-tracking data from Kpler and … Read more
Summary Gazprom may ship extra 6 bcm per year to China via existing link Power of Siberia 2 pipeline talks stalled, sources say Putin-Xi meeting to focus on energy cooperation Russia seeks to send gas to China after losing EU markets (Reuters) – China is seeking to buy more Russian gas through an existing pipeline … Read more
The U.S. government’s energy statistics arm, which has experienced staff cuts this year, said on Thursday it will delay publishing key energy data on uranium as well as its international outlook this year. The Energy Information Administration said its annual uranium marketing report that had been scheduled to come out in June will be published … Read more
OPEC+ meeting in focus Uncertainty over Russian supply impacts market sentiment Russian oil exports to India set to rise despite US pressure (Reuters) – Oil prices fell on Friday, but were set for a weekly gain, tugged between uncertainty about Russian supply and expectations of lower demand as the summer driving season in the United … Read more
Summary Quick Russia-Ukraine ceasefire deal very unlikely, analysts say Global oil demand seen growing between 0.5-1.1 mbpd in 2025 (Reuters) – Oil prices are unlikely to gain much traction from current levels this year as rising output from top producers adds to the risk of a surplus and U.S. tariff threats curb demand growth, a … Read more
(Reuters) – U.S. crude stocks, gasoline, and distillate inventories fell last week as demand rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 2.4 million barrels to 418.3 million barrels in the week ended August 22, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.9-million-barrel draw. Crude … Read more
By Kevin Crowley Exxon Mobil Corp. said net zero goals for the global energy sector are likely to drift further beyond 2050 due to consumers pushing back against high costs and a revival in demand for coal, the most polluting fossil fuel. Global emissions will fall by a quarter by 2050, far short of the … Read more
Global demand for natural gas will rise more than 20% by 2050 from last year’s level, as it displaces coal to power industries and meet higher electricity use in developing countries, Exxon Mobil said on Thursday in an annual outlook. The projections provide the basis for the top U.S. oil producer’s long-term strategy and investment. … Read more
(Reuters) – Germany will officially start commercial operations at its second liquefied natural gas import terminal at Wilhelmshaven port on Aug 29., state operator Deutsche Energy Terminal said on Thursday, as the country diversifies its energy supply. In response to Moscow’s invasion of Ukraine in 2022, Germany has turned to global, seaborne LNG to replace … Read more
Summary US tariffs on India for Russian oil take effect India to raise imports by 10-20% in September, traders say Russian refining drops because of maintenance and attacks Russian exporters sell oil at wider discounts (Reuters) – Russian oil exports to India are set to rise in September, traders said, as producers cut prices to … Read more
(Reuters) – BP’s 440,000-barrel-per-day refinery in Whiting, Indiana, is back to operating at normal rates after taking multiple units offline due to a severe thunderstorm last week, industry monitor IIR said on Wednesday. Operations at the Whiting refinery were affected due to flooding after a thunderstorm swept through the region. BP did not immediately respond … Read more
(Reuters) – The United States imported crude oil from Venezuela last week for the first time since Washington gave Chevron Corp a new license to operate in the South American country, data from the Energy Information Administration showed. About 74,000 barrels per day of Venezuelan crude oil arrived at U.S. ports in the week ended … Read more
Summary Crude falls after 1% gain in previous session US demand to ease at the end of summer driving season Russian oil supplies through Druzhba pipeline restart Indian buying pattern of Russian oil in focus LONDON, Aug 28 (Reuters) – Oil fell on Thursday after rising in the previous session, pressured by expectations of lower … Read more
(Reuters) – EQT Corp is in talks to take a supply of liquefied natural gas from NextDecade’s export terminal, which is being built in Texas, Bloomberg News reported on Wednesday, citing people familiar with the matter. Under the terms of the potential deal, EQT would load the super-chilled fuel from the Rio Grande LNG export … Read more
(Reuters) – U.S. natural gas futures rose over 3% on Wednesday after a sharp decline earlier this week, buoyed by bargain buying and strong LNG export flows. Front-month gas futures for September delivery on the New York Mercantile Exchange traded 9.7 cents higher, or 3.6%, to $2.81 per million British thermal units at 10:18 a.m. … Read more
By William Wilkes European carmakers said the European Union’s planned ban on combustion engines is no longer realistic, warning that climate rules risk weakening the region’s auto industry and its supplier network. In a letter, leaders of the industry’s main lobby groups urged European Commission President Ursula von der Leyen to revisit plans to phase … Read more
HOUSTON, Aug. 27, 2025 /PRNewswire/ — Harvest Midstream (“Harvest”) today announced the signing of a purchase and sale agreement with MPLX LP (NYSE: MPLX) for the acquisition of an extensive natural gas gathering and processing network in the Uinta and Green River basins across Wyoming, Utah, and Colorado for $1 billion. The transaction is expected … Read more
Sempra will supply 2 million tonnes per annum (Mtpa) of liquefied natural gas from the Port Arthur LNG Phase 2 development project to EQT Corp for 20 years, the companies said on Wednesday. Commercial activity in the U.S. LNG sector has been increasing rapidly after President Donald Trump lifted a moratorium on new liquefied natural … Read more
Ron Bousso Summary Petrochemicals supply to exceed demand by 20-25% by 2030 South Korea to cut capacity in reponse to US tariffs China considers closing loss-making plants (Reuters) – U.S. President Donald Trump’s trade wars are nudging the global plastics industry toward a painful but necessary restructuring to address acute overcapacity that has kept the industry’s profits … 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 Nichola Groom (Reuters) – U.S. President Donald Trump has used his second term in the White House to stymie development of wind and solar energy facilities that were a cornerstone of former President Joe Biden’s climate and energy agendas. Here is a timeline of actions his administration has taken to unravel federal support for … Read more
By Dorothy Neufeld Key Takeaways In 2025, global renewable energy investment is projected to hit $780 billion, outpacing oil investment by $237 billion. Over the past decade, investment in renewables has surged 109%. Global energy investment has shifted dramatically in the last decade. As the world transitions to cleaner sources, capital is flowing into technologies … Read more
SEOUL, Aug 27 (Reuters) – South Korea and the United States have agreed to further strengthen a partnership on nuclear energy, Seoul’s foreign ministry said on Wednesday. Kim Jina, South Korea’s vice foreign minister, met James Danly, U.S. Deputy Secretary of Energy, on Wednesday, the ministry said in a statement.
Summary Witkoff to meet Ukrainians in New York this week Trump’s doubling of tariffs hits India API shows US crude, products inventories fall, sources say Russia lifts August crude exports after refinery attacks (Reuters) – Oil prices steadied on Wednesday, after falling in the previous session, as investors watched for developments in the Ukraine war and weighed … Read more
By Tope Alake US investments in renewable energy projects plunged this year as developers responded to White House policy shifts targeting the sector. Investments fell by $20.5 billion, or 36%, in the first half of the year from the prior six months, according to a Tuesday report from BloombergNEF. Wind and solar commitments fell 18% … Read more
By Yawen Chen LONDON, Aug 26 (Reuters Breakingviews) – Add $12-billion Orsted (ORSTED.CO) to the list of companies swept up in U.S. President Donald Trump’s storm. A Washington agency late last week halted work on a nearly finished wind-power project. The big question for CEO Rasmus Errboe is what it all means for a separate … Read more
(Reuters) – A senior Exxon Mobil executive discussed with Russia’s Rosneft this year about returning to the Sakhalin project if the U.S. and Russia gave the green light as part of a Ukraine peace process, the Wall Street Journal reported on Tuesday, citing people familiar with the discussions. Reporting by Costas Pitas and Bhargav Acharya; … Read more
Aug 26 (Reuters) – A group of U.S. federal agencies, including the departments of defense, energy and commerce, are working together to review offshore wind farms approved by the Biden administration along the Atlantic coast, U.S. Health and Human Services Secretary Robert F. Kennedy Jr. said on Tuesday. The revelation, during a meeting of President … Read more
Markets ask again of Trump: ‘Can he do that?’ August 25, 202510:33 PM Reuters0 Comments A look at the day ahead in European and global markets from Rocky Swift Markets like it when central banks can steer economic policy without political meddling, and they prize data that matches reality. That faith has helped global shares climb … Read more
Indian exporters are bracing for disruptions after a U.S. Homeland Security notification confirmed Washington would impose an additional 25% tariff on all Indian-origin goods from Wednesday, ramping up trade pressure on the Asian nation. Indian exports will face U.S. duties of up to 50% – among the highest imposed by Washington – after President Donald … Read more
(Reuters) – China’s imports of liquefied natural gas (LNG) are poised to rise for a fourth straight month in August, but this may not be quite as bullish as it first appears. The world’s biggest buyer of the super-chilled fuel is on track to see imports of 6.04 million metric tons in August, the strongest … Read more
Summary Discussions included whether Exxon Mobil would re-enter Sakhalin-1 project Talks also covered Russia’s possible purchase of US equipment Possible deals were also discussed inside the White House (Reuters) – U.S. and Russian government officials discussed several energy deals on the sidelines of negotiations this month that sought to achieve peace in Ukraine, according to … Read more
Summary Oil slips after four sessions of gains Prices expected to remain in tight range, says analyst Traders track Ukraine developments and US tariffs on India (Reuters) – Oil prices lost more than 1% on Tuesday after surging nearly 2% in the previous session as traders monitor developments surrounding the war in Ukraine and potential disruption to … Read more
The dollar and U.S. Treasuries slid in Asian trading on Tuesday after President Donald Trump announced he was removing a Federal Reserve governor, which undermined confidence in U.S. assets. The dollar fell against the yen and euro after Trump said on social media he was removing Lisa Cook from her position on the Fed’s board … Read more
(Reuters) – Canada’s main oil-producing province of Alberta is considering a financial investment in Japan’s refining sector, two sources familiar with the matter said, an attempt to reduce its overwhelming dependence on top trade partner the United States for oil exports. Alberta’s government is in early-stage talks with several Japanese crude oil refiners to explore … Read more
By Ruth Liao A group led by WhiteWater Midstream has agreed to proceed with building a pipeline to bring more natural gas from the Permian Basin in West Texas to the Houston area. The Eiger Express Pipeline will transport as much as 2.5 billion cubic feet per day of gas, according to a statement Monday. … Read more
(Reuters) – The owners of the EPIC Crude pipeline are exploring a sale, with any deal likely to value the energy infrastructure at around $3 billion including debt, people familiar with the matter said. EPIC Crude is one of the major pipelines which brings oil from the Permian and Eagle Ford shale basins of Texas … Read more
By Georgia Hall Connecticut Governor Ned Lamont vowed to work with the Trump administration to restart construction on a major offshore wind development, saying there’s “a deal to be had” despite the Interior Department’s surprise move to halt the project. Lamont, a Democrat, said he’s already been discussing regional power supplies with the Interior and … Read more
BP’s 440,000-bpd refinery in Whiting, Indiana, is expected to be fully operational in the next 24 to 48 hours, industry monitor IIR said on Monday. The refinery experienced operational upsets last week due to flooding caused by a severe thunderstorm that swept through the state. BP declined to comment on the refinery’s restart timeline. The … Read more
(Reuters) – Brokerages welcome Cenovus Energy’s C$7.9 billion ($5.72 billion) cash-and-stock deal to acquire peer MEG Energy Gerdes Energy Research raises PT on CVE by C$2 to C$32, a premium of 51.2% to stock’s closing price on Friday The deal will give “an approximate 6% improvement in oil sands capital intensity,” Gerdes said Brokerage Desjardins … Read more
(Reuters) – Ukraine has stepped up drone attacks on Russian oil refineries and exporting infrastructure, striking the most important sector of President Vladimir Putin’s economy to show it can fight back as the United States seeks to broker a peace deal. The attacks disrupted Moscow’s oil processing and exports, created gasoline shortages in some parts … Read more
(Reuters) – Tokyo Gas is in discussions with Venture Global to purchase 1 million metric tonnes per annum of liquefied natural gas from the company’s CP2 export facility, three people with knowledge of the talks told Reuters on Monday. Venture Global is the second largest U.S. LNG exporter and since 2023 has been the main … Read more
AUSTIN, Texas, Aug. 25, 2025 /PRNewswire/ — WhiteWater today announced that WhiteWater, MPLX LP (NYSE: MPLX), ONEOK, Inc. (NYSE: OKE) and Enbridge Inc. (NYSE: ENB), through their Matterhorn joint venture (“Matterhorn JV”), have partnered with affiliates of ONEOK and MPLX and reached final investment decision to move forward with the construction of the Eiger Express Pipeline, having secured … Read more
Summary Orsted shares drop 17% after US halts wind farm project Orsted’s project was 80% complete Orsted plans $9.4 billion rights issue despite setback Denmark’s strained US relations may hinder diplomatic efforts Governors criticize suspension, pledge to reverse order (Reuters) – Shares in Orsted slid 17% on Monday after the U.S. halted the Danish company’s … Read more
U.S. liquefied natural gas exports will soar by roughly 10% a year through 2030 as energy firms double their LNG production capacity, according to analysts, providing a shot in the arm to the country’s maturing shale industry which has seen growth slow and costs rise. The U.S. is the world’s largest oil and natural gas … Read more
(Reuters) – Italian police have arrested a Ukrainian man suspected of coordinating the attacks on the Nord Stream gas pipelines in 2022, German prosecutors said on Thursday. The arrest is the first significant breakthrough in the investigation of mysterious underwater explosions that occurred in September 2022 in the Baltic Sea. Here is what we know about the … Read more
(Reuters) – U.S. shale producer Crescent Energy said on Monday it would acquire smaller peer Vital Energy in an all-stock deal valued at $3.1 billion, including debt. The deal highlights how some U.S. companies are pursuing scale at a time when mergers and acquisitions in the shale industry slowed in the second quarter due to volatility in the energy … Read more
A Decision-Making Guide for Operators, ESG Leads, and Reliability Engineers Methane elimination is no longer just a regulatory checkbox — it’s a critical part of sustainable and responsible energy production. With the evolving EPA standards and increasing pressure from investors and communities, choosing the right methane elimination technology vendor can make or break your environmental, … Read more
(Reuters) – Oil output in North Dakota is set to rise in August as operators bring back online some production they had curtailed after oil prices sank earlier in the year, the state regulator said on Friday. Oil prices fell to multi-year lows last quarter after U.S. President Donald Trump unveiled an extensive list of … Read more
President Vladimir Putin said on Friday that there was “light at the end of the tunnel” in Russia-U.S. relations and that the two countries were discussing joint projects in the Arctic and Alaska. The Russian president, answering questions during a visit to a nuclear research centre, said he was sure that U.S. President Donald Trump’s … Read more
The U.S. Department of Energy said on Friday it had granted Energy Transfer additional time to start exports from the Lake Charles LNG facility under its non-Free Trade Agreement export permit. “On the heels of President Trump’s historic trade negotiations, demand for secure, reliable American LNG is surging,” Energy Secretary Chris Wright said in … Read more
Summary Ukraine drone attacks target Russian energy infrastructure US vice president says Russia has made ‘significant concessions’ Federal Reserve Chair Powell signals possible September rate cut LONDON, Aug 25 (Reuters) – Oil prices climbed on Monday as traders weighed concerns that Russian supply could be disrupted by more U.S. sanctions and Ukrainian attacks targeting energy … Read more
Summary Radioactive, fissile plutonium from Cold War a headache for US US wants to halt disposal of it, use 20 metric tons for fuel Trump administration sees it as potential fuel for new reactors Critic points out similar program failed due to costs (Reuters) – The Trump administration plans to make available about 20 metric … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating 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, fell by one to 538 in … Read more
U.S. Vice President JD Vance said Russia has made “significant concessions” toward a negotiated settlement in its war with Ukraine and was confident progress was being made despite the lack of clear signs the conflict is nearing an end. Speaking on NBC’s “Meet the Press with Kristen Welker”, Vance said Russian President Vladimir Putin has … Read more
Summary Potential stronger sanctions against Russia back in focus Prices also supported by US crude stocks drawdown German economic data raises concerns over demand HOUSTON – Aug 22 (Reuters) – Oil prices steadied on Friday amid uncertainty surrounding a potential peace deal between Russia and Ukraine, with prices gaining on the week for the first … Read more
Oil companies in the Permian Basin are exploring desalination to recycle fracking wastewater for agricultural use. By David Wethe In the heart of North America’s most prolific oil field, West Texas is suffering from a water imbalance: Crude producers have too much while drought-hit farmers can’t get enough. Oil wells across the Permian Basin, which … Read more
CALGARY – Cenovus Energy Inc. has signed a cash-and-stock deal to buy MEG Energy Corp. that values the company at CDN $7.9 billion (US$5.7 Billion), including debt. The deal comes after Strathcona Resources Ltd. made an unsolicited offer for MEG in June that the company urged shareholders to reject. MEG chairman James McFarland says the … Read more
By David Shepardson and Nichola Groom WASHINGTON, Aug 21 (Reuters) – The U.S. Commerce Department said on Thursday it has opened a national security investigation into the import of wind turbines and components. Earlier this week, the department said it was adding wind turbines to a list of products that will face 50% tariffs on … Read more
By Jarrett Renshaw EPA expected to rule soon on a number of the 190 pending refiner exemption requests. EPA expected to delay decision on whether larger refiners should make up for exempted gallons. The decisions will have significant impacts on oil and farm industries. Aug 21 (Reuters) – President Donald Trump’s administration is expected to … Read more
(Reuters) – Two tankers chartered by Chevron carrying Venezuelan crude reached U.S. waters on Thursday, marking the first U.S. imports of the South American country’s oil following a new license granted by Washington, vessel tracking data showed. The U.S. Treasury Department last month issued a restricted license to Chevron allowing the U.S. company to operate … Read more
By Dorothy Neufeld | Graphics/Design: Joyce Ma Global Crude Oil Trade Flows in 2024 Key Takeaways China imported 11.1 million barrels of crude oil per day in 2024, with Russia standing as its largest supplier of oil. Meanwhile, the U.S. imported 6.6 million barrels per day (mb/d), with Canada accounting for 62% of the total. … Read more
By Josh Saul and Riley Griffin Louisiana regulators approved Entergy Corp.’s plan to build three natural gas plants to power Meta Platform Inc.’s biggest data center. Meta’s latest and largest data center is a 4 million–square–foot complex in rural Louisiana intended to support the company’s most powerful artificial intelligence models. Meta Chief Executive Officer Mark … Read more
WASHINGTON, Aug 21 (Reuters) – The Trump administration on Thursday issued more Iran-related sanctions, targeting 13 entities based in Hong Kong, China, the United Arab Emirates and the Marshall Islands, as well as eight vessels, the U.S. Treasury Department said. The measures cover Greek national Antonios Margaritis and his network of companies and vessels that … Read more
Summary Potential stronger sanctions against Russia back in focus Prices also supported by US crude stocks drawdown German economic data raises concerns over demand (Reuters) – Oil prices were little changed on Friday as hopes for an imminent peace deal between Russia and Ukraine dimmed, putting prices on track for their first weekly gain in … Read more
Summary Ukraine stepping up attacks on Russian energy infrastructure Unecha pumping station key part of Europe-bound Druzhba pipeline Russian regional governor says Unecha site catches fire as result of Ukrainian missile, drone attacks Oil flows could be halted for five days Hungary, Slovakia call on Europe to guarantee supply security KYIV/BUDAPEST, Aug 22 (Reuters) … Read more
There are early signs that some Asian countries are stepping up their imports of U.S. liquefied natural gas (LNG) as part of trade deals with President Donald Trump. Asia’s imports of the super-chilled fuel are on track to hit an eight-month high of 2.01 million metric tons in August, according to data compiled by commodity … Read more
By Yongchang Chin, Alex Longley, and Christopher Charleston Asian oil refiners have been hunting for crude from further afield than their usual suppliers in the Middle East, but this more diversified strategy isn’t stirring a market that’s bracing for a glut. The region that consumes around 40% of the world’s oil normally subsists on a … Read more
By Pooja Menon Aug 21 (Reuters) – U.S. oil and gas producer ConocoPhillips (COP.N) said on Thursday it would secure 4 million tonnes per annum of liquefied natural gas from Sempra’s (SRE.N) Port Arthur LNG Phase 2 project in Texas to serve key global markets. Commercial activity in the U.S. LNG sector has picked up … Read more
(Reuters) – JPMorgan Chase has hired two bankers to boost its investment banking capabilities for energy companies, including one which will help the bank focus on coverage of middle-market clients in the sector, per a memo seen by Reuters. The bank is creating a new vertical within its mid-cap investment banking unit to cover natural … Read more
By Gavin Maguire LITTLETON, Colorado, Aug 21 (Reuters) – U.S. power generation capacity is evolving at the fastest pace in decades, as utilities scramble to ensure that supplies keep up with rapidly growing electricity demand from data centers, AI applications, businesses, homes and electric vehicles. To help frame expectations on what power sources will likely … Read more
HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) today announced it has signed a long-term sales and purchase agreement (SPA) to purchase 4 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from the Port Arthur LNG Phase 2 project under development by Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE), in Jefferson County, Texas. Under the agreement, ConocoPhillips … Read more
Summary No one has claimed responsibility for pipeline blasts Suspect used sailing yacht to carry out attack, prosecutors say Ukraine has previously denied involvement Pipelines carried Russian gas to Europe (Reuters) – A Ukrainian man was arrested in Italy suspected of coordinating the 2022 attacks on the Nord Stream pipelines, German prosecutors said on Thursday, … Read more
By Kevin Crowley and David Westin Chevron Corp. plans to merge Hess Corp.’s exploration team with its own to challenge “conventional thinking” and make new discoveries, Chief Executive Officer Mike Wirth in an interview on Bloomberg TV’s Wall Street Week. Chevron is cutting about 650 Hess jobs after completing its $53 billion takeover last month, … Read more
Crude inventories fell sharply last week amid lower imports and a jump in exports, the U.S. Energy Information Administration said on Wednesday. Crude oil stockpiles fell by 6 million barrels to 420.7 million barrels last week, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.8 million-barrel draw. Inventories at the … Read more
By Laila Kearney NEW YORK, Aug 20 (Reuters) – Developers are on track to add 33 gigawatts of solar power in the U.S. this year, accounting for about half of the total new electricity generating capacity planned for the country in 2025, the Energy Information Administration said on Wednesday. If the plans are realized, large-scale … Read more
By Krishna N. Das and Aftab Ahmed Buying oil from Russia “very profitable” for India, Russian official says Hopes rise for trilateral talks with India, China Russia wants to forge a greater Eurasian partnership Russia see scope for LNG supplies to India NEW DELHI, Aug 20 (Reuters) – Russia expects to continue supplying oil to … Read more
Ron Bousso Summary IEA, EIA forecast large supply overhang in coming quarters Yet future Brent oil price do not reflect the need to store oil Geopolitical tensions blur the outlook for supply and demand LONDON, Aug 20 (Reuters) – A glaring mismatch between benchmark oil prices and expectations of a looming supply overhang has created … Read more
Summary Brent, WTI rise for a second session US crude, gasoline stocks fall, lifting demand outlook Focus on talks for Ukraine peace deal (Reuters) – Oil prices rose 1% on Thursday, bolstered by signs of strong demand in the United States, with uncertainty over efforts to end the war in Ukraine also lending support. Brent … Read more
(Reuters) – BP’s 440,000-bpd refinery in Whiting, Indiana, was in the process of restarting after flooding disrupted its operations earlier this week, industry monitor IIR said on Wednesday, adding the units would take several days to ramp up. The facility aims to be back running at full rates by early next week, IIR said. The … Read more
By Verity Ratcliffe and Anthony Di Paola Abu Dhabi’s main renewables company has diverted billions of dollars to AI projects instead of green hydrogen, due to a lack of buyers for the fuel once seen as key to the energy transition. Global demand for clean hydrogen products has fallen short of expectations while power needs … Read more
By Scott Disavino US crude inventories drop by 6 million barrels, exceeding forecasts Uncertainty over Ukraine peace talks affects oil price volatility Trump says US may provide air support to back a Ukraine deal NEW YORK, Aug 20 (Reuters) – Oil prices climbed about 1% on Wednesday on a bigger-than-expected weekly drop in U.S. crude … Read more
U.S. President Donald Trump’s administration on Tuesday unveiled a comprehensive schedule to hold more than 30 offshore oil and gas lease sales in the Gulf of Mexico and Alaska’s Cook Inlet over the next 15 years. WHY IT’S IMPORTANT The plan fulfills a directive in Trump’s One Big Beautiful Bill Act, which passed last month, … Read more
(Reuters) – U.S. power firms are building out the most gas-fired power generation capacity globally, which will cement the country’s position as by far the world’s largest natural gas consumer and gas-fired power producer. But the growing reliance on natural gas for domestic power generation also stands to stoke tensions with the fast-growing LNG export … Read more
(Reuters) – BP’s 440,000-barrel-per-day refinery in Whiting, Indiana, on Tuesday reported flaring due to flooding caused by a severe thunderstorm overnight, the company said. “The Whiting Refinery’s operations were impacted by the significant thunderstorms overnight in Northwest Indiana that led to flooding and severe conditions in the surrounding neighborhoods,” the company said on Tuesday in … Read more
By Andrea Shalal WASHINGTON, Aug 19 (Reuters) – U.S. Treasury Secretary Scott Bessent on Tuesday accused India of profiteering from its sharply increased purchases of Russian oil during the war in Ukraine, saying Washington viewed the situation as unacceptable. Bessent told CNBC in an interview that Russian oil now accounted for 42% of India’s total … Read more
By Robert A. Lawson and Matthew D. Mitchell US Economic Freedom in a Trade War: Economic Freedom of the World 2025 Pre-release President Trump claims that the United States has been “ripped off by virtually every country in the world.” With the exception of China, every country Trump has singled out for treating America unfairly … Read more
Summary Trump says US may provide air support to back a Ukraine deal API shows weekly US crude, gasoline stocks fell BP says Whiting refinery operations hit by flooding (Reuters) – Oil rose on Wednesday as the American Petroleum Institute reported a drop in U.S. crude inventories and investors awaited the next steps in talks … Read more
Year-over-year mergers and acquisitions (M&A) activity surged 331%, totaling $206.6 billion Focus shifts to future drilling potential through strategic acquisitions Capital returned to shareholders declined NEW YORK, Aug. 19, 2025 /PRNewswire/ — The U.S. oil and gas industry is experiencing a seismic transformation, driven by a wave of mergers and acquisitions that has narrowed the … Read more
(Reuters) – Mergers and acquisitions in the U.S. oil and gas sector tripled last year despite softer commodity prices as energy companies boosted spending to improve efficiency and profits, according to a report released on Tuesday. WHY IT’S IMPORTANT The jump in dealmaking marks a shift in strategy after years of focusing on shareholder returns … Read more
(Reuters) – U.S. natural gas futures fell about 4% to a nine-month low on Tuesday on near-record output, ample fuel in stockpiles and forecasts for less hot weather and lower demand through early September than previously expected. Another factor weighing on gas prices was a decline in the amount of gas flowing to liquefied natural … Read more
By Dr. Michael Davies The conditions that flame arresters are subjected to in numerous industrial operations necessitate regular inspection and maintenance. Regular maintenance can easily become a burden in these situations. In process operation, OPEX (Operational Expenditure) should have a key focus on controlling cost by minimizing downtime and avoiding equipment failure during maintenance. In … Read more
Russia struck the central Ukrainian city of Kremenchuk overnight, leaving a thick column of smoke hovering over the city in an attack that the local mayor called a sign that Russian President Vladimir Putin does not want peace. The bombardment on that city as well as other locations in Ukraine was Russia’s largest so far … Read more
Aug 19 – U.S. company Freeport LNG’s export plant in Texas was on track to take in more natural gas on Tuesday, a sign that one of its liquefaction trains was resuming operations after an outage that started on Sunday, according to a company filing with state regulators and data from financial company LSEG. Freeport … Read more
U.S. President Donald Trump’s high-stakes diplomacy to resolve the war in Ukraine is unlikely to jolt oil and gas markets, no matter the outcome. Russia has faced multiple rounds of western sanctions and restrictions since its invasion of Ukraine in February 2022, which have dealt severe blows to the country’s giant oil and gas industry, … Read more
Summary China buys 15 Russian oil cargoes for October-November delivery Indian demand for Russian oil declines as discounts narrow in July Trump threatens retaliatory tariffs against Russian oil buyers (Reuters) – Chinese refineries have purchased 15 cargoes of Russian oil for October and November delivery as Indian demand for Moscow’s exports falls away, two analysts … Read more
By Leah Douglas and Nichola Groom WASHINGTON, Aug 18 (Reuters) – The U.S. Department of Agriculture will no longer support solar and wind projects on productive farmland, said Agriculture Secretary Brooke Rollins in a post on X on Monday. The move is the latest in a series of actions by the administration of President Donald … Read more
By Laila Kearney Summary Google partners with TVA, Kairos Power for nuclear project First U.S. utility power purchase agreement for generation IV nuclear Project supports U.S. AI dominance and energy leadership, says Energy Secretary (Reuters) – Google, with Kairos Power, has selected Tennessee as the site of an advanced nuclear power plant that is expected to … Read more
Private investment firm Raisa Energy is selling a package of oil and gas wells across numerous U.S. shale basins that may fetch around $1.5 billion, people familiar with the matter said. The sale, which is in its early stages, is not guaranteed and the final price could fluctuate depending on market conditions and other factors, … Read more
(Reuters) – Two of the United States’ largest liquefied natural gas export plants recorded major declines in demand for natural gas on Monday, suggesting parts of their facilities might be down, according to data from financial firm LSEG. Cheniere’s Sabine Pass export facility in Texas, which utilizes up to 4.5 billion cubic feet of natural … Read more
Summary Oil prices down after previous session’s 1% gain Geopolitical risks have eased for oil this week -analyst Trump says US would help guarantee security for Ukraine LONDON, Aug 19 (Reuters) – Oil prices fell on Tuesday as traders weighed the possibility that talks between Russia, Ukraine and the U.S. to end the war in Ukraine could … Read more
Aug 18 (Reuters) – Shares of U.S. solar energy companies rose on Monday after the Trump administration released new subsidy rules for clean energy projects that were not as stringent as many investors had feared. Late on Friday, the Treasury Department narrowed the definition for what it means for a solar or wind project to … Read more
Summary Co’s HY25 underlying NPAT falls to $1.25 billion Declares dividend at top end of payout ratio despite debt rising Woodside ‘absolutely focused’ on delivery, CEO says (Reuters) – Woodside Energy said on Tuesday it will scale back exploration efforts and prioritise its $39 billion project pipeline to strengthen its balance sheet, after depreciation and decommissioning … Read more
(Reuters) – Utility company Black Hills said on Tuesday it would buy peer NorthWestern Energy Group for $3.6 billion. The all-stock deal, which has an enterprise value of $15.4 billion, would create a regional regulated natural gas utility company with a pro forma market capitalization of roughly $7.8 billion. The per-share value of about $59 implies … Read more
By Francesca Landini MILAN, Aug 18 (Reuters) – U.S. asset manager BlackRock’s (BLK.N) infrastructure fund GIP has agreed to buy a 49.99% stake in Eni’s (ENI.MI) carbon capture and storage business (CCUS), the Italian company said on Monday without disclosing the value of the deal. The proposed deal is part of Eni’s broader strategy to … Read more
(Reuters) – Four liquefied natural gas (LNG) tankers carrying cargoes from Russia’s Arctic LNG 2 plant, sanctioned over Moscow’s war in Ukraine, are headed east toward Asia, according to ship tracking data from Kpler and LSEG. The Christophe De Margerie tanker is travelling along the Northern Sea Route after loading at Arctic LNG 2 on … Read more
By Clara Ferreira Marques and Shruti Srivastava Takeaways by Bloomberg AI White House trade adviser Peter Navarro wrote that India’s purchases of Russian oil are “opportunistic and deeply corrosive” of a global effort to isolate the Kremlin. Navarro said that India uses dollars from American consumers who buy Indian goods to buy discounted Russian crude, which he characterized as … Read more
Centrica Signs 10-Year Deal for US Natural Gas With Devon Energy By Priscila Azevedo Rocha and Anna Shiryaevskaya August 15, 2025 at 2:00 AM MDT Centrica Plc signed a 10-year agreement to buy natural gas from Devon Energy Corp. to help expand its activities across the Atlantic. Centrica Energy, its trading arm, will receive 50,000 million British thermal units per … Read more
(Reuters) – U.S. solar company T1 Energy (TE.N) and specialty glass maker Corning (GLW.N) have reached a deal that will establish a fully domestic solar supply chain, connecting polysilicon, wafers, cells, and panels manufactured in the United States, they said on Friday. The deal will help T1 satisfy growing U.S. demand for panels produced with … 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
LNG Projects Will Drive Gas Prices Up: BKV CEO BKV Corp., the largest natural gas producer in Texas’ Barnett shale basin, expects strong gas demand in 2026 as liquefied natural gas export terminals come online, driving up prices for the fuel. The US-based gas-producing unit of Thailand’s Banpu Pcl sees demand remaining solid for the rest of … Read more
Physical security at industrial facilities—especially in the Oil and Gas sector—has grown far beyond the traditional image of fences and a security guard at the front gate. Our industry spans the country and facilities are often remote, isolated and hard to reach. From animal encounters to theft to operational risk mitigation, comprehensive physical security is … Read more
(Reuters) – Pemex, Mexico’s national oil company, is preparing for the “Big Block” overhaul at its 312,500 barrel-per-day (bpd) Deer Park, Texas refinery to begin in early October, said people familiar with plant operations on Friday. The refinery’s 270,000 DU-2 crude distillation unit (CDU), the larger of two at the refinery, will be shut for … Read more
(Reuters) – When U.S. President Donald Trump meets Russian President Vladimir Putin on Friday, one of his bargaining chips to encourage Putin to make progress toward a ceasefire in Ukraine will be to ease U.S. sanctions on Russia’s energy industry and exports. Trump has also threatened tougher sanctions if there is no progress. Here is … Read more
WASHINGTON, Aug 15 (Reuters) – U.S. President Donald Trump said on Friday he did not immediately need to consider retaliatory tariffs on countries such as China for buying Russian oil but might have to “in two or three weeks.” Trump has threatened sanctions on Moscow and secondary sanctions on countries that buy its oil if no moves … Read more
Summary US adviser says if India wants to be a US strategic partner, it has to act like one Zelenskiy, European leaders to meet Trump on Monday (Reuters) – Oil prices rose on Monday after White House trade adviser Peter Navarro said India’s purchases of Russian crude were funding Moscow’s war in Ukraine and had to stop. … Read more
(Reuters) – The U.S. Treasury Department on Friday unveiled stricter rules for how solar and wind projects can qualify for federal tax subsidies that President Donald Trump’s new tax and spending law is phasing out over the next two years. The revisions change longstanding definitions for what it means for a project to be considered … Read more
By Scott Disavino Aug 15 (Reuters) – U.S. energy firms this week held the number of oil and natural gas rigs operating steady, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, remained at 539 in the week … Read more
Aug 15 (Reuters) – The Data Center Coalition, which represents data center owners including Google, Amazon (AMZN.O) and Microsoft (MSFT.O), called on U.S. Treasury Secretary Scott Bessent to uphold existing rules for wind and solar energy subsidies, saying they have enabled the industry to grow quickly and stay ahead of competition from China. WHY IT’S … Read more
Summary Traders watch for progress in Trump-Putin talks Weaker Chinese data raises fuel demand concerns Projected oil market surplus weighs on price sentiment (Reuters) – Oil prices closed down nearly $1 on Friday as talks between U.S. President Donald Trump and Russian leader Vladimir Putin took place, which could lead to an easing of the sanctions imposed on Moscow … Read more
(Reuters) – The United States has had internal discussions on using Russian nuclear-powered icebreaker vessels to support the development of gas and LNG projects in Alaska as one of the possible deals to aim for when President Donald Trump meets Vladimir Putin on Friday, three sources familiar with the matter told Reuters. Trump landed in … Read more
(Reuters) – Asian spot liquefied natural gas (LNG) prices declined this week on soft demand and strong storage inventories and as markets awaited the outcome of a meeting between U.S. President Donald Trump and Russian leader Vladimir Putin later today. The average LNG price for September delivery into north-east Asia was at $11.65 per million … Read more
NEW YORK, Aug 15 (Reuters) – Enterprise Products Partners (EPD.N) said on Friday the Seaway crude oil pipeline system resumed full operations after a crude oil leak from the company’s oil terminal in southeast Houston earlier this week. A portion of the Seaway pipeline went down on Tuesday night, impacting crude oil flows on the … Read more
Aug 15 (Reuters) – The first two cargoes of Venezuelan oil exported by energy major Chevron (CVX.N) after it received a fresh U.S. authorization to operate in the country last month have set sail for the United States, vessel monitoring data showed on Friday. The U.S. Treasury Department granted Chevron a new license in late … 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
World markets are watching closely as U.S. President Donald Trump and Russia’s Vladimir Putin meet in Alaska later on Friday to seal a possible ceasefire agreement in Ukraine. This was a conflict that sparked an energy shock, sent food prices soaring, battered European assets and cut Russia’s economy off from much of the Western world. … Read more
US$6 billion-plus deal for Calgary-based energy software firm may be the largest Canadian-linked tech deal in 25 years By Meghan Potkins – More Articcles From Meghan Potkins Here Enverus CEO Manuj Nikhanj is accustomed to his company flying under the radar — including the news last week that it had reached a reported US$6 billion-plus deal … Read more
The OPEC+ coalition, led by Saudi Arabia, has fast-tracked the restart of halted production Bloomberg News Global oil markets are on track for a record surplus next year as demand growth slows and supplies swell, the International Energy Agency said. Oil inventories will accumulate at a rate of 2.96 million barrels a day, surpassing even the average buildup … Read more
Green hydrogen was meant to clean up dirty sectors like steel and shipping. But costs are high, investment is falling, and projects are stalling. Is it the fuel of the future — or a climate bet gone bad? By Keira Wright and David R Baker A train powered by fuel cells which convert hydrogen to … Read more
The International Energy Agency forecasts a surplus approaching 3 million barrels a day by next year. By Grant Smith Saudi Arabian Oil Co. workers in the Khurais oil field. Photographer: Maya Sidiqqui/Bloomberg The impact of this year’s dramatic policy reversal by OPEC+ is now becoming clear. This week’s reports from two of the oil industry’s … Read more
Oil falls ahead of Trump-Putin summit in Alaska Summary Traders watch for progress in peace talks Weaker Chinese data raises fuel demand concerns Projected oil market surplus also weighs on price sentiment Traders await (Reuters) – Oil prices fell on Friday as traders awaited talks between U.S. President Donald Trump and Russian leader Vladimir Putin, which some expect could lead … Read more
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 106.4 bcfd in 2025 … Read more
By Kavya Balaraman Aug 14 (Reuters) – The U.S. is poised to see supply shortages of 30% and 10%, respectively, of power and distribution transformers this year, as surging electricity consumption drives demand for power infrastructure, Wood Mackenzie said on Thursday. Demand for certain kinds of transformers – pieces of equipment that step up or … Read more
(Reuters) – Mexican President Claudia Sheinbaum said on Thursday that Carlos Trevino, former CEO of state oil company Pemex, had been arrested in the United States and would be deported to stand trial in Mexico for corruption charges. Trevino served as CEO of Pemex from 2017 to 2018, stepping down after former President Andres Manuel … Read more
Jafurah Midstream Gas Company secures significant foreign direct investment, together with agreement to lease and leaseback development and usage rights for Aramco’s Jafurah midstream assets Aramco to receive upfront proceeds of $11 billion on completion, highlighting the value creation potential of its ongoing capital investment program Transaction to support optimization of Aramco’s assets, reflecting positive outlook for … Read more
NEW YORK, Aug 14 (Reuters) – Phillips 66 (PSX.N) has reduced gasoline output at its 258,000 barrels-per-day Bayway refinery in Linden, New Jersey, after a fire near the plant’s gasoline producing unit, two people familiar with the matter said on Thursday. An ancillary piece of equipment of the refinery’s fluid catalytic cracking unit caught fire … Read more
(Reuters) – President Donald Trump said on Thursday that he believes Russian President Vladimir Putin will make a deal, and that the threat of sanctions against Russia likely played a role in Moscow seeking a meeting. Trump is scheduled to meet with Putin in Alaska on Friday. The U.S. president said he is unsure whether … Read more
U.S. stagflation fears seeped into global markets on Thursday after surprisingly hot inflation data applied heavy pressure to U.S. Treasuries and sparked selling of government bonds everywhere from Germany to Japan. Wall Street stocks took a hit too, with futures contracts tracking the domestically-focused Russell 2000 share index, which dropped 1.2% in the minutes after … Read more
Thyssenkrupp Nucera is in intensive discussions with stakeholders in its U.S. projects and is abandoning those no longer deemed feasible due to tax and spending changes initiated by U.S. President Donald Trump, its CEO said on Wednesday. Global demand for green hydrogen had stalled amid concern among clean-tech players over what Trump’s policies would mean for … Read more
Summary Backwardation for Brent, WTI 6-month time spreads narrow Brent’s premium to Dubai lowest in 4 months Spot premiums for Oct-loading Dubai, Oman slip to month’s low Reuters) – Premiums for prompt benchmark oil prices globally are falling compared with those in future months on rising output from the Middle East, Latin America and Europe, … Read more
Liquefied natural gas producer Venture Global expects to win its remaining arbitration cases against major energy companies following its victory against Shell, CEO Mike Sabel said on Wednesday. The Arlington-based company’s stock rose 8% at midday, a day after it won the legal battle over Shell’s failure to deliver LNG under long-term contracts starting in … Read more
Summary Brent and WTI stabilise off previous session’s two-month lows Trump meets Putin on Friday to discuss war in Ukraine U.S. crude stocks rose unexpectedly last week, EIA says (Reuters) – Oil prices were stable on Thursday as investors weighed the potential impact of Friday’s U.S.-Russia summit on Ukraine on Russian crude flows, after U.S. … Read more
Crude oil flows on the Seaway pipeline in Texas fell on Wednesday, four sources said, as the pipeline’s operator reported a leak on the system to state regulators. The 950,000-barrel-per-day Seaway pipeline runs between Cushing, Oklahoma, and the Freeport, Texas, area and connects to the Enterprise Crude Houston (ECHO) terminal, a storage facility in southeast … Read more
U.S. crude production will hit a record 13.41 million barrels per day in 2025 due to increases in well productivity, though lower oil prices will prompt a fall in output in 2026, the Energy Information Administration forecasted on Tuesday in a monthly report. The decline in 2026 production to 13.28 million bpd would be the … Read more
By Joanna Plucinska, Joe Brock, Marleen Kaesebier and Paul Carsten Graphics by Pasit Kongkunakornkul and Arathy J Aluckal A drone view shows the World Energy refinery in Paramount, California, U.S., June 24, 2025. REUTERS/Mike Blake PARAMOUNT, California – In 2019, Scott Kirby, the chief executive of United Airlines, hailed its new contract with green jet … Read more
U.S. crude and distillate inventories rose while gasoline stockpiles fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 3 million barrels to 426.7 million barrels in the week ended August 8, the EIA said, compared with analysts’ expectations in a Reuters poll for a 275,000-barrel draw. Crude stocks at the … Read more
Interest rate cuts and the falling dollar will fuel inflation that is already above the Federal Reserve target – which may not just end the easing cycle early, it might spur a tightening cycle that no one is currently expecting. Core CPI, which rose to 3.1% year-on-year in July, is substantially higher than the central … Read more
Summary IEA expects global supply to rise by 2.5 million bpd in 2025 Trims forecast for demand growth this year to 680,000 bpd Global crude refining runs will approach record high in August Implied surplus to approach 3 million bpd in 2026 (Reuters) – World oil supply will rise more rapidly than expected this year … Read more
Russia said on Wednesday that its stance on ending the war in Ukraine has not changed since President Vladimir Putin set out his conditions last year: the full withdrawal of Kyiv’s forces from key Ukrainian regions and the abandonment of its NATO ambitions. Putin and U.S. President Donald Trump are due to meet on Friday … Read more
The United States exported about 30% of its domestic primary energy production last year, a significant increase over recent decades, the Energy Information Administration (EIA) said on Tuesday. Of the record 103 quadrillion British thermal units (quads) of total primary energy produced in the U.S., a record 31 quads were exported, the EIA added. The … Read more
Exxon Mobil could invest as much as $21.7 billion in Trinidad and Tobago if the U.S. energy major finds reserves in a large deepwater area it was awarded on Tuesday to explore for oil and gas in the Caribbean country, Energy Minister Roodal Moonilal said. Moonilal was speaking at an event in Port of Spain … Read more
U.S. power consumption will hit record highs in 2025 and 2026, the Energy Information Administration said in its short-term energy outlook (STEO) on Tuesday. The EIA projected power demand will rise to 4,186 billion kilowatt-hours (kWh) in 2025 and 4,284 billion kWh in 2026, up from a record 4,097 billion kWh in 2024. Those demand … Read more
Venture Global has won a legal battle against Shell over its failure to deliver liquefied natural gas under long-term contracts starting in 2023, the U.S. LNG major said on Tuesday. The company’s stock price rose almost 6% in after hour trade as investors cheered the decision. Firms, including Shell, BP, Edison and Galp, filed arbitration claims … Read more
(Reuters) – Oil prices edged lower on Wednesday after the IEA noted supply overtaking demand this year, while investors awaited Friday’s meeting between U.S. President Donald Trump and Russian President Vladimir Putin. Brent crude futures fell 41 cents, or 0.6%, to $65.71 a barrel by 1037 GMT, while U.S. West Texas Intermediate crude futures edged … Read more
A Chevron-chartered tanker docked at Venezuelan state company PDVSA’s Jose terminal on Tuesday, positioning it to be the first to export crude to the United States under a new license Chevron received in July, LSEG tracking data showed. The U.S. Treasury Department late last month authorized Chevron to operate in the sanctioned OPEC nation again, … Read more
U.S. natural gas futures slid about 3% to an eight-month low on Tuesday on near-record output, ample supplies of the fuel in storage and forecasts of cooler weather and lower demand than previously expected through late August. The price decline was accompanied by a drop in daily gas flows to liquefied natural gas export plants … Read more
Investors counting on a data center-fueled surge in US electricity demand are getting impatient. Some of the investors who drove NRG Energy Inc., Vistra Corp. and others to historic highs on optimism over surging data-center demand are starting to lose patience with the independent power producers. That’s because deals to supply the massive facilities with electricity are moving too … Read more
In 2019, Scott Kirby, the chief executive of United Airlines, hailed its new contract with green jet fuel producer World Energy as an example for the aviation industry to follow in its drive to cut emissions. Six years later, that collaboration is dead. Boston-based World Energy was one of the first companies in the world … Read more
Two Texas businessmen were indicted for allegedly bribing officials at Mexico’s state energy company Pemex with $150,000 and luxury items to secure contracts, the U.S. Justice Department announced on Monday. Between 2019 and 2021, Ramon Rovirosa and Mario Avila, both Mexican citizens and U.S. lawful permanent residents, conspired to pay bribes to officials at Pemex … Read more
(Reuters) – OPEC on Tuesday raised its forecast for global oil demand next year and trimmed its forecast for growth in supply from the United States and other producers outside the wider OPEC+ group, pointing to a tighter market outlook. World oil demand will rise by 1.38 million barrels per day in 2026, the Organization … Read more
Summary U.S., China extend tariff pause to November Eyes on U.S. inflation data due later on Tuesday Trump-Putin talks on Friday cloud oil outlook (Reuters) – Oil prices were broadly steady on Tuesday as the United States and China extended a pause on higher tariffs, easing concerns an escalation of their trade war would hit … Read more
Venture Global surpassed Wall Street expectations for second-quarter revenue on Tuesday, as the easing of new export permits for liquefied natural gas in the U.S. helped improve sales. Commercial activity in the sector picked up pace after President Donald Trump lifted a moratorium on new LNG export permits soon after taking office in January. Venture … Read more
U.S. liquefied natural gas developer NextDecade said on Monday it will receive up to $3 billion in equity commitments from TotalEnergies and Global Infrastructure Partners (GIP) to finance the fourth liquefaction train at its Rio Grande LNG export project in Texas. TotalEnergies will contribute about $300 million for a 10% stake in the Train … Read more
The crude oil market’s rather sanguine reaction to the U.S. threats to India over its continued purchases of Russian oil is effectively a bet that very little will actually happen. President Donald Trump cited India’s imports of Russian crude when imposing an additional 25% tariff on imports from India on August 6, which is due … Read more
Malaysia’s state energy firm Petronas plans to raise the share of its international portfolio to 60% of its total business over the next decade, it said on Monday. The firm will build on its current international portfolio, which now accounts for around 40% to 50% of its investments, by integrating its domestic expertise with global … Read more
Denmark’s Orsted seeks $9.4 billion as US wind market falters Summary Shares drop almost 30% after rights issue announcement Says cash will provide financial robustness in 2025-2027 Discontinues US project sale Danish state to maintain majority stake in Orsted Morgan Stanley to underwrite any unsubscribed shares COPENHAGEN, Aug 11 (Reuters) – Denmark’s Orsted on Monday asked … Read more
The Trump administration has instituted permitting reviews and imposed standards that threaten US wind and solar developments, and has rescinded Biden-era decisions earmarking coastal waters for future wind turbines. The actions have contributed to the cancellation or delay of more than $22 billion worth of clean energy projects since January and the loss of thousands … Read more
U.S. crude oil exports eased in July to the lowest levels in nearly four years on low domestic supplies and as Asian and European buyers found cheaper alternatives, undermining U.S. President Donald Trump’s push for more foreign countries to purchase U.S. energy supplies. The decline in exports from the top global producer underscores the extent … Read more
OPEC+ oil producers have used high summer demand to launch their first output increases in three years, but those targets have proved difficult to hit, leaving the market surprisingly tight. On paper, the world’s largest group of oil-producing countries should be pumping an extra 2.5 million barrels of oil a day in September versus March, … Read more
At a glance, U.S. President Donald Trump appears to be winning the trade war he unleashed after returning to the White House in January, bending major trading partners to his will, imposing double-digit tariff rates on nearly all imports, narrowing the trade deficit, and raking in tens of billions of dollars a month in much-needed … Read more
U.S. Vice President JD Vance said a negotiated settlement between Russia and Ukraine is unlikely to satisfy either side, and any peace deal will likely leave both Moscow and Kyiv “unhappy.” He said the U.S. is aiming for a settlement both countries can accept. “It’s not going to make anybody super happy. Both the Russians … Read more
(Reuters) – Norway’s energy minister said on Friday he is preparing to launch a new oil and gas licensing round on the Norwegian continental shelf, the first offer of new drilling permits in unexplored frontier regions since 2021. “Norway will be a long-term supplier of oil and gas to Europe, while the Norwegian continental shelf … Read more
The head of an association representing global oilfield service firms in Mexico said on Thursday that a new business plan for state oil company Pemex lacks concrete measures to address its massive debt with suppliers, despite official promises to speed up payments. Rafael Espino, president of the AMESPAC association, told Reuters that in a Tuesday … Read more
Summary Trump and Putin to meet on Friday in Alaska UBS lowers Brent crude forecast on higher supply China producer prices fall more than expected in July (Reuters) – Oil prices fell on Monday, extending last week’s more than 4% decline, as investors looked to talks between the U.S. and Russia later this week on … Read more
Gavin Maguire (Reuters) – The fresh 25% tariffs slapped on Indian goods by U.S. President Donald Trump this week are being viewed by many as a negotiating tactic designed to force India to buy more U.S. energy products and other goods going forward. But even though India’s fast-growing economy is the fifth largest globally, India’s … Read more
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row, 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 539 in the week … Read more
(Reuters) – A U.S. federal court auctioning shares in the parent of Venezuela-owned U.S. refiner Citgo Petroleum to pay creditors for expropriations and debt defaults has received a competing bid, an officer overseeing the process said in a filing. A $7.4 billion bid by a group led by a subsidiary of Canadian miner Gold Reserve was recommended last month as winner … Read more
Summary US, Russia aim to reach a deal to halt the war in Ukraine Latest US tariffs raise concerns over economic activity Trump threatens further sanctions on buyers of Russian oil US oil rig count rises by one to 411 HOUSTON, Aug 8 (Reuters) – Oil held steady on Friday as markets awaited a meeting … Read more
EOG Resources, Inc. (EOG) today reported second quarter 2025 results and updated its 2025 guidance. The attached supplemental financial tables and schedules for the reconciliation of non-GAAP measures to GAAP measures and related definitions and discussion, along with a related presentation, are also available on EOG’s website at http://investors.eogresources.com/investors. Key Financial Results In millions of USD, … Read more
Summary Trump’s tariffs could strain US-India-China relations Experts doubt tariffs will change Putin’s stance Potential oil market disruptions could spike global prices, carrying risks for Trump Aug 8 (Reuters) – From punishing Brazil to trying to curb imports of fentanyl, U.S. President Donald Trump has wielded the threat of tariffs as an all-purpose foreign policy … Read more
Acquisition Brings Stone Ridge Energy’s Portfolio to Over 11 GW of Power NEW YORK–(BUSINESS WIRE)–Stone Ridge Holdings Group (“Stone Ridge”), a financial services firm focused on alternative asset management, reinsurance, and bitcoin, today announced that its energy platform, Stone Ridge Energy (“SRE”), entered into a definitive agreement to acquire a major portfolio of Oklahoma energy … Read more
Top-rated U.S. companies have financed their acquisitions mostly with equity and cash instead of debt this year, and could continue doing so even as M&A activity and hopes of interest rate cuts rise, bankers and investors said. High debt costs and worries of credit-rating downgrades for taking on debt made funding acquisitions with cash and … Read more
Summary Latest tariffs raise concerns over economic activity Trump threatens further sanctions on buyers of Russian oil Putin and Trump to hold meeting in coming days, says Kremlin (Reuters) – Oil prices edged higher on Friday but was poised for the steepest weekly losses since late June on a tariff-hit economic outlook and a potential … Read more
Foreign leaders are promising to buy American energy, but the industry can’t meet that demand right now. Countries are cutting trade deals with President Donald Trump by pledging to buy more American energy, and it’s likely most of these additional purchases will be of liquefied natural gas. If those promises turn into contracts, the US … Read more
Aug 7 (Reuters) – Utility Talen Energy reported a fall in second-quarter profit on Thursday, hurt by higher energy purchase costs and maintenance expenses associated with a refueling outage at its Susquehanna nuclear facility. In May, the utility identified extra maintenance work in Unit 2 of the Susquehanna facility that had already been placed under a planned outage … Read more
(Reuters) – Kuwait’s oil minister Tariq Al-Roumi said on Thursday that OPEC is closely monitoring global oil supply, demand trends, and U.S. President Donald Trump’s recent remarks on Russian oil. “Through OPEC, we are monitoring the market in terms of supply and demand, and we are monitoring the U.S. President’s statements,” Al-Roumi told reporters, adding … Read more
(Reuters) – ConocoPhillips will sell its Anadarko Basin assets for $1.3 billion, the energy producer said on Thursday, after beating Wall Street estimates for second-quarter profit. Shares of the company rose nearly 2% in premarket trade. The asset sale, expected to close at the beginning of the fourth quarter, pushes ConocoPhillips past its $2 billion non-core … Read more
Summary US crude inventories fall by more than expected Investors remain cautious after Trump tariffs on India Saudi Arabia raises its crude prices to Asia (Reuters) – Oil prices steadied on Thursday, paring early gains after the Kremlin announced that Russian President Vladimir Putin will meet U.S. President Donald Trump in the coming days, raising … Read more
U.S. President Donald Trump on Wednesday said he could announce further tariffs on China similar to the 25% duties announced earlier on India over its purchases of Russian oil, depending on what happens. “Could happen,” Trump told reporters, after saying he expected to announce more secondary sanctions aimed at pressuring Russia to end its war … Read more
Summary Total prioritizes LNG projects with low liquefaction costs Tariffs raised Rio Grande construction costs Total pushing ahead with its own projects in Mozambique, PNG Aug 6 (Reuters) – TotalEnergies has decided not to invest in U.S. developer NextDecade’s fifth liquefied natural gas Rio Grande export facility in Texas or to buy LNG from its output, two … Read more
U.S. refiners are expected to continue operating above 90% of their combined production capacity of 18.2 million barrels per day (bpd) in the third quarter, said analysts contacted by Reuters. High refining margins are driving the continuing high levels of production from the second quarter into the third, but tropical storms could drive down production … Read more
U.S. envoy Steve Witkoff’s meeting with Russian President Vladimir Putin in Moscow on Wednesday went well, a White House official said, adding that Washington still planned to proceed with secondary sanctions on Friday. “The Russians are eager to continue engaging with the United States. The secondary sanctions are still expected to be implemented on Friday,” … Read more
*Crude exports rise by 620,000 bpd, driving inventory draw *Gasoline stocks fall by 1.3 mlb bbls, demand above 9 mln bpd *Distillate stockpiles drop unexpectedly, down by 565,000 bbls (Updates throughout, adds market reaction) By Stephanie Kelly NEW YORK, Aug 6 – U.S. crude oil stockpiles fell last week as exports rose, while gasoline and … Read more
Energy Transfer LP is moving forward with plans to build a $5.3 billion natural gas pipeline from the Permian Basin to markets in New Mexico and Arizona. The expansion of the company’s Transwestern Pipeline networks that’s slated to begin operations in late 2029 will provide an outlet for Permian gas producers that have struggled with a dearth of … Read more
US diesel prices have surged to the highest in almost a year due to tightness in global supplies, according to Bloomberg. The national average price of a gallon of diesel has risen 7% since early June to $3.738, American Automobile Association data show. The rising cost of diesel threatens to boost inflation and cause additional … Read more
U.S. President Donald Trump’s tirade against India over trade and Russian oil purchases threatens to undo two decades of diplomatic progress, analysts and officials say, and could derail other areas of cooperation as domestic political pressures drive both sides to harden their stances. India’s opposition parties and the general public have urged Prime Minister Narendra … Read more
Shale driller Diamondback Energy said on Tuesday it should remain the Permian Basin’s “consolidator of choice” as shale activity slows and the company focuses on shareholder returns following its $26 billion merger with Endeavor Energy. “We should naturally be the consolidator of choice as we execute a lower-cost and better overall development strategy,” a key … Read more
Williams Cos., one of the world’s largest pipeline operators, projects liquid natural gas will expand to become more than 25% of the US gas market in the next decade. The energy infrastructure company also sees years of robust demand for the fuel, which currently makes up about 15% of the market, according to Chief Executive … Read more
(Reuters) – India, which gets more than a third of its oil imports from Russia, is likely to turn to supplies from the Middle East and Africa and other regions if it is forced to cut Russian imports due to possible U.S. penalties. WHY IS INDIA IMPORTING RUSSIAN OIL? India turned to purchasing Russian oil sold … Read more
By Reuters Reuters) – NRG Energy beat Wall Street estimates for second-quarter profit on Wednesday, as the utility got a boost from surging power demand and improved retail margins in its Texas unit. The company also entered into a 295 megawatt long-term retail deal to power data centers constructed on two NRG-owned sites in Texas, with … Read more
Summary Company incurs US import tariff hit of 100 million euro in third quarter Third-quarter orders at 16.1 billion euros versus 14.1 billion euros in poll Order backlog reaches record of 136 billion euros (Reuters) – Siemens Energy expects to hit the upper end of its 2025 growth outlook range, it said on Wednesday, as its … Read more
Proposed ways to generate wealth while cleaning up inactive oil and gas sites By Deborah Jaremko Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Alberta has a new set of recommendations to address the growing number of oil and gas production and infrastructure assets in the province that … Read more
Summary Oil prices rebound amid supply disruption concerns API crude draw data supporting prices, analysts say (Reuters) – Oil prices rebounded from the previous session’s five-week low on Wednesday, as traders focused on U.S. President Donald Trump threatening India with higher tariffs over its Russian crude purchases, and a larger-than-expected U.S. crude draw. Brent crude … Read more
Summary Falling U.S. rig count threat to oil production Lower 48 oil production expected to fall next year, analysts say Permian rig count to fall below models for steady output Analysts model Permian rig count at 240-260 for steady output (Reuters) – The falling number of oil and gas rigs deployed across the United States … Read more
Chevron and Valero Energy are working to resume supplies of Venezuelan crude to Valero’s U.S. refineries under an agreement that was on pause, three sources close to the preparations said on Tuesday, following a new license granted to the U.S. oil major. Washington in late July issued a new restricted authorization for Chevron to operate, … Read more
U.S. President Donald Trump on Tuesday said declining energy prices could pressure Russian President Vladimir Putin to halt the war in Ukraine. “If energy goes down enough, Putin is going to stop killing people,” Trump said in an interview on CNBC. “If you get energy down, another $10 a barrel, he’s going to have no … Read more
U.S. President Donald Trump on Tuesday said he would increase the tariff charged on imports from India from the current rate of 25% “very substantially” over the next 24 hours, given India’s continued purchases of Russian oil. “They’re fueling the war machine, and if they’re going to do that, then I’m not going to be … Read more
*Exxon, Chevron oil and gas production hit record in Q2 *Shell production drops to lowest in at least 20 years, BP’s drops from year ago *European majors hope to close a valuation gap with US rivals By Ron Bousso LONDON, Aug 5 – When playing catch up, picking up the pace may not be enough. One also has … Read more
(Reuters) – Grid operators across the U.S. are revamping their forecasting methods, introducing reforms to power markets and streamlining interconnection processes to quickly connect more energy to the grid, as a potent combination of extreme weather and data center growth elevate power demand this summer. High temperatures and the expansion of power-hungry data centers are … Read more
(Reuters Breakingviews) – The standoff between the U.S. and India may well get worse before it gets better. Having slapped a 25% tariff on goods the South Asian country sends to America, Donald Trump is vowing to ratchet up the rate over the $4 trillion economy’s purchases of Russian oil. New Delhi calls the threat … Read more
A new analysis confirms Sunrun’s leading position as the largest operator in California’s statewide distributed power plant, delivering 360 megawatts to the state’s grid on a record-setting night SAN FRANCISCO, Aug. 04, 2025 (GLOBE NEWSWIRE) — A new analysis by The Brattle Group found that Sunrun’s (Nasdaq: RUN) fleet of home batteries across California was … Read more
MIDLAND, Texas, Aug. 04, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc., (NASDAQ:VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), today announced financial and operating results for the second quarter ended June 30, 2025. SECOND QUARTER HIGHLIGHTS Q2 2025 average production of 41,615 bo/d (79,286 boe/d) Q2 2025 consolidated net income … Read more
HOUSTON, Aug. 04, 2025 (GLOBE NEWSWIRE) — Archrock, Inc. (NYSE: AROC) (“Archrock” or the “Company”) today reported results for the second quarter 2025. Second Quarter 2025 and Recent Highlights Revenue for the second quarter of 2025 was $383.2 million compared to $270.5 million in the second quarter of 2024. Net income for the second quarter … Read more
Summary Brent and US crude stabilise after three consecutive declines OPEC+ output hike, demand worries add to oversupply outlook Trump again threatens India with high tariffs over Russian oil purchases LONDON, Aug 5 (Reuters) – Oil was little changed on Tuesday as traders assessed rising OPEC+ supply and worries of weaker global demand, against U.S. … Read more
Clyde Russell (Reuters) – A couple of months ago it would have been a brave call to say that OPEC+ would be able to bring back 2.5 million barrels per day of crude production and still keep oil prices anchored around $70 a barrel. But this is exactly what has occurred, with the eight members … Read more
Goldman Sachs on Sunday reiterated its oil price forecast with Brent averaging $64 per barrel in the fourth quarter of 2025 and $56 in 2026, but expects an increasing range of risks to its baseline estimates from recent developments.“Increasing pressure on Russia and Iran sanctioned oil supply poses an upside risk to our price forecast, … Read more
MIDLAND, Texas, Aug. 04, 2025 (GLOBE NEWSWIRE) Diamondback Stockholders, This letter is meant to be a supplement to our earnings release and is being furnished to the Securities and Exchange Commission (SEC) and released to our stockholders simultaneously with our earnings release. Please see the information regarding forward-looking statements and non-GAAP financial information included at … Read more
MIDLAND, Texas, Aug. 04, 2025 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced financial and operating results for the second quarter ended June 30, 2025. SECOND QUARTER 2025 AND RECENT HIGHLIGHTS Average oil production of 495.7 MBO/d (919.9 MBOE/d) Net cash provided by operating activities of $1.7 billion; Operating Cash … Read more
(Reuters) – Malaysia will spend up to $150 billion in the next five years to buy equipment from U.S. multinationals for its semiconductor, aerospace and data centre sectors, part of a deal with Washington to cut tariffs, its trade minister said on Monday. The United States announced last week that it would impose a 19% tariff on … Read more
(Reuters) – BP said on Monday it has made its largest oil and gas discovery in 25 years in Brazil’s Santos basin, a so-called pre-salt area in deep water offshore which is believed to be a large reservoir of oil and gas. BP returned its focus to fossil fuels last year to regain investor confidence and revive … Read more
(Reuters) – U.S. President Donald Trump’s demand on India to halt Russian oil imports could threaten billions in Russian revenues, prompt Moscow to retaliate by stopping a major U.S.-led oil pipeline and potentially lead to a new global supply crisis. India, the world’s third largest oil importer, has become the biggest buyer of Russian oil … Read more
Client: Major Petrochemical Operator – Alberta Scope: Pigtail (small-bore) welds beneath legacy hydrogen furnace Conditions: Catalyst remained in tubes, requiring extreme caution and minimal heat spread Problem with Traditional Method: Rigid ceramic elements obstructed the weld area, required excessive insulation, and posed a risk of heat bleed Challenge: A critical maintenance scope called for welding … Read more
(Reuters) – A look at the day ahead in European and global markets from Stella Qiu: It is tariff deadline day and President Donald Trump delivered by slapping fresh levies on imports from dozens of countries, including those that do not have a trade deal yet. Rates were set at 35% for Canada, 25% for … Read more
(Reuters) – U.S. oil producer Chevron expects its exports of Venezuelan crude to the U.S. to resume this month, the company’s chief executive said on Friday, following a restricted license received this week from the U.S. Treasury Department to operate in the sanctioned country and do oil swaps. Chevron’s CEO Mike Wirth also said in … 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, 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 540 in … Read more
(Reuters) – At least two vessels loaded with Russian oil bound for refiners in India have diverted to other destinations following new U.S. sanctions, trade sources said, and LSEG trade flows showed. The U.S. Treasury Department this week imposed sanctions on more than 115 Iran-linked individuals, entities, and ships, some of which are involved in transporting … Read more
Summary OPEC+ to raise output by 547,000 bpd in September Healthy economy, low stocks support production hike, OPEC+ says India to keep buying Russian oil despite Trump threats, sources say Latest Trump tariffs unlikely to budge, top negotiator says (Reuters) – Oil prices dropped on Monday after OPEC+ agreed to another large output hike in … Read more
(Reuters) – Four Democratic U.S. senators on Friday slammed last month’s directive by Interior Secretary Doug Burgum requiring his office to review decisions on every wind and solar power project on federal lands, saying it will lead to delays and discourage private investment as power demand rises. The lawmakers said the directive creates a bottleneck that will … Read more
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Summary Verdict could lead to more lawsuits, experts say One died, one injured in Model S crash in 2019 Tesla to appeal, blames driver Tesla shares down 1.8% on Friday, 25% this year (Reuters) – A Florida jury on Friday found Tesla liable to pay $243 million to victims of a 2019 fatal crash of an … Read more
Indian officials have said they would keep purchasing oil from Russia despite the threat of penalties that U.S. President Donald Trump said he would impose, the New York Times reported on Saturday. Reuters could not immediately verify the report.The White House, India’s Ministry of External Affairs and the Ministry of Petroleum and Natural Gas did … Read more
Summary Sept hike of 548,000 bpd agreed, sources say ahead of meeting Virtual meeting starts at 1100 GMT on Sunday Oil supported by US demands for India to stop buying Russian oil (Reuters) – OPEC+ has reached a preliminary deal to increase oil production by 548,000 barrels per day from September, three sources said on … Read more
(Reuters) – Exxon Mobil, the United States’ biggest oil producer, beat Wall Street estimates for second-quarter profit on Friday as higher oil and gas output and low production costs offset the impact of lower crude prices. Oil and gas production was the highest for any second quarter since the merger of Exxon and Mobil formed … Read more
By Erwin Seba Oil prices head for weekly gain US tariffs on dozens of countries take effect on August 1 Investors weigh impact from Trump threats over Russian oil HOUSTON, Aug 1 (Reuters) – Oil prices $2 a barrel on Friday because of jitters about a possible increase in production by OPEC and its allies, … Read more
(Reuters) – Chevron beat analyst estimates for second-quarter profit on Friday as record oil and gas production and lower capital expenditure helped to offset the impact of lower crude prices. The No. 2 U.S. oil major last month headed off a legal challenge from the biggest U.S. producer Exxon Mobil enabling it to close its … Read more
Delivered industry-leading results, earnings of $7.1 billion and cash flow from operations of $11.5 billion1 Returned industry-leading $9.2 billion to shareholders, on pace to purchase $20 billion in shares this year2 Repurchased approximately 40% of shares issued to acquire Pioneer Natural Resources since May 2024 Commenced start-up of Singapore Resid Upgrade, Fawley Hydrofiner and Strathcona … Read more
Reported earnings of $2.5 billion; adjusted earnings of $3.1 billion Record production; 1 million BOE per day in the Permian Basin Returned $5.5 billion cash to shareholders; 13 straight quarters of over $5 billion Completed acquisition of Hess Corporation in July HOUSTON–(BUSINESS WIRE)–Chevron Corporation (NYSE: CVX) reported earnings of $2.5 billion ($1.45 per share – diluted) … Read more
(Reuters) – OPEC+ will likely approve another oil output hike on Sunday, sources familiar with the discussions said, adding that the producer group was still debating the final size of the increase for September. OPEC+, which pumps about half of the world’s oil, has been curtailing production for several years to support the market. But … Read more
IRVING, Texas–(BUSINESS WIRE)–#EnergySolutions—Fluor Corporation (NYSE: FLR) announced today that its Joint Venture (JV) with JGC Corporation has been awarded the contract to update the Front End Engineering and Design (FEED) for a proposed Phase 2 expansion of the LNG Canada facility located on the traditional territory of Haisla Nation in Kitimat, British Columbia, Canada. Fluor recognized … Read more
My testimony to the House Oversight Committee on “The New Atomic Age: Advancing America’s Energy Future.” By Alex Epstein This week I testified in front of the House Committee on Oversight and Government Reform on the topic “The New Atomic Age: Advancing America’s Energy Future.” Watch my testimony and Q&A here, or read the transcript … Read more
(Reuters) – Fuel importers in California have received gasoline from Saudi Arabia’s Jubail Industrial Port after maintenance at the world’s largest refinery in India helped to open the rare arbitrage opportunity, data from oil analytics firm Kpler showed. Three gasoline shipments totaling about 886,000 barrels from Saudi’s Jubail Industrial Port have discharged in recent months … Read more
(Reuters) – U.S. crude oil production rose to a record 13.49 million barrels-per-day in May, even as oversupply concerns pushed prices for the commodity to four-year lows, data from the U.S. Energy Information Administration showed on Thursday. U.S. President Donald Trump has repeatedly called for higher oil production from the country, where output was already … Read more
(Reuters) – Staff at the Federal Energy Regulatory Commission have recommended Next Decade’s Rio Grande LNG project in Brownsville, Texas, receive its final environmental approval, a document showed. The recommendation is a major step forward for the company as it pursues the 18 million metric tons per annum export facility. The project had faced uncertainty … Read more
(Reuters) – U.S. gasoline demand in May fell to the lowest for that month since the coronavirus pandemic of 2020, data from the Energy Information Administration showed on Thursday, indicating consumers cut back on fuel purchases despite lower prices. Product supplied of finished motor gasoline, the EIA’s proxy for demand, averaged about 9.06 million barrels-per-day … Read more
U.S. refiner Phillips 66 was ordered to pay biofuel maker Propel Fuels $800 million in damages for stealing trade secrets to build up its renewable-fuel capabilities, according to a California state court document. A state court in Alameda, California, on Wednesday ordered Phillips 66 to pay $195 million in punitive damages, in addition to $604.9 … Read more
(Reuters) – Top U.S. oil producers Exxon Mobil and Chevron are expected to report their lowest earnings in four years when they release second-quarter results on Friday, as weaker oil and gas prices slashed revenue. The April-June quarter covered a volatile period in which the OPEC+ group of producers continued raising their production volumes, putting … Read more
Summary Blackstone may pay around $6 billion for Enverus Veritas Capital also showed interest in Enverus Enverus owner H&F has been running sale process in recent weeks (Reuters) – Blackstone Inc has emerged as the frontrunner to buy energy-focused data provider Enverus for around $6 billion, according to sources familiar with the matter. Reuters reported in … Read more
(Reuters) – Oil prices were little changed on Friday after falling more than 1% in the previous session as traders digested the impact of new higher U.S. tariffs that may curtail economic activity and lower global fuel demand growth. Brent crude futures rose 4 cents, or 0.06%, to $71.74 a barrel by 1201 GMT. U.S. … Read more
By Anushree Ashish Mukherjee Brent projected to average $67.84 per barrel in 2025 WTI to average $64.61 per barrel in 2025 July 31 (Reuters) – Analysts are keeping their oil price forecasts mostly unchanged for 2025, as a rise in OPEC+ output and ongoing U.S. tariff uncertainty weigh on the market, a Reuters poll showed … Read more
Asia is expected to step up imports of U.S. West Texas Intermediate crude in the fourth quarter after Middle East oil prices strengthened and opened the arbitrage window, trade sources said. Middle East crude benchmarks Dubai and Murban gained this month on the back of robust demand for high-sulphur oil in Asia, narrowing their price … Read more
(Reuters) – The Freeport LNG export terminal in Texas was running at about half of normal capacity on Thursday following a power interruption that had put the entire plant offline a day earlier, according to data from financial firm LSEG. Freeport LNG is the third-largest liquefied natural gas (LNG) plant in the U.S. and in … Read more
By Shadia Nasralla Oil price in second quarter dropped on OPEC+ output hikes Quarterly profit of $4.26 bln beats analyst poll of $3.74 bln Keeps pace of share buybacks at $3.5 bln for quarter Company shares climb around 2% LONDON, July 31 (Reuters) – Shell’s (SHEL.L) second-quarter net profit tumbled by almost a third on … Read more
HOUSTON, July 31, 2025 /PRNewswire/ — Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE), and JERA Co., Inc. (JERA) today announced a 20-year sale and purchase agreement for the supply of 1.5 million tonnes per annum (Mtpa) of liquefied natural gas (LNG) offtake from the Port Arthur LNG Phase 2 development project in Jefferson County, Texas. The LNG will … Read more
(Reuters) – Canadian pipeline operator TC Energy raised its full-year adjusted core earnings forecast on Thursday, driven by increased natural gas and power demand and strength in its North America operations. In May, TC Energy said it is forecasting an uptick in capital project announcements later this year and into the next, as coal-to-gas conversions … Read more
(Reuters) – Asia is expected to step up imports of U.S. West Texas Intermediate crude in the fourth quarter after Middle East oil prices strengthened and opened the arbitrage window, trade sources said. Middle East crude benchmarks Dubai and Murban gained this month on the back of robust demand for high-sulphur oil in Asia, narrowing … Read more
(Reuters) – MPLX LP said on Thursday it will acquire Northwind Midstream for $2.38 billion in cash to expand its sour gas gathering and processing footprint in the Permian Basin, as producers ramp up drilling in New Mexico. Northwind, backed by Five Point Infrastructure, operates in Lea County, New Mexico, and has more than 200,000 … Read more
The U.S. Treasury Department announced fresh sanctions on Wednesday on over 115 Iran-linked individuals, entities and vessels, in a sign the Trump administration is doubling down on its “maximum pressure” campaign after bombing Tehran’s key nuclear sites in June. The sanctions broadly target the shipping interests of Mohammad Hossein Shamkhani, the son of Ali Shamkhani, … Read more
By Amanda Stephenson Open season to assess shipper interest in capacity growth Drag-reducing agents could boost delivery by 5-10% Potential projects may increase export capacity by 200,000-300,000 bpd CALGARY, July 30 (Reuters) – The operator of Canada’s Trans Mountain oil pipeline may launch a process this year to formally gauge commercial interest in the first … Read more
July 30 (Reuters) – California Governor Gavin Newsom is proposing legislation to bolster the state’s wildfire fund with an additional $18 billion for utilities, Bloomberg News reported Wednesday, citing sources familiar with the plan. Reuters could not immediately verify the report. In 2019, California lawmakers established the $21 billion California Wildfire Fund, managed by the … Read more
By Marta Nogueira RIO DE JANEIRO, July 30 (Reuters) – Energy companies operating in Brazil are expected to resume oil shipments to the United States after several oil products were exempted from U.S. tariffs, the head of Brazilian oil lobby group IBP told Reuters on Wednesday. Oil is Brazil’s top export to the U.S. and … Read more
(Reuters) – Oil prices gained for a fourth straight day on Thursday, as investors worried about supply shortages amid U.S. President Donald Trump’s push for a swift resolution to the war in Ukraine and threats of tariffs on countries buying Russian oil. Brent crude futures for September delivery , which are set to expire on Thursday, rose … Read more
Summary New license to allow Chevron to make decisions, contribute to procurement and payments No money from oil proceeds can be transferred to Maduro’s gvmt Chevron had reduced operations, ordered tanker fleet to sail away HOUSTON, July 30 (Reuters) – Chevron has been granted a restricted U.S. license to operate in sanctioned Venezuela, three sources close … Read more
By Kanishka Singh Pakistan officials have visited US in recent weeks for talks Pakistan said last week deal was within reach Trump says an oil company will be chosen to build partnership, without elaborating WASHINGTON, July 30 (Reuters) – U.S. President Donald Trump said on Wednesday his administration struck a deal with Pakistan in which … Read more
By Valerie Volcovici WASHINGTON, July 30 (Reuters) – The Trump administration has billed its plan to undo U.S. climate regulation as a way to cut costs for industry, but it may backfire by forcing automakers, utilities, and manufacturers into a future of regulatory uncertainty and litigation risk, according to lawyers and trade groups. Republican President … Read more
Russian markets reacted cautiously to U.S. President Donald Trump’s threat to impose new sanctions, with analysts saying on Wednesday a weaker rouble and higher oil prices as a result of his measures may support the economy in the short term. Trump said on Tuesday the United States would start imposing tariffs and other measures on … Read more
By Arathy Somasekhar Trump vows sanctions unless Russia makes progress on peace deal Trump says US to impose 25% tariff on India from Aug 1 US also warns China over Russian oil China unlikely to comply with US sanctions, analysts say HOUSTON, July 30 (Reuters) – Oil prices settled 1% higher on Wednesday as investors … Read more
By Pooja Menon July 29 (Reuters) – Duke Energy (DUK.N) said on Tuesday it would sell its Tennessee natural gas distribution business to Spire (SR.N) for $2.48 billion in cash, as the utility aims to streamline operations and unlock capital to invest in electric grid upgrades. About $800 million of the proceeds will be used … Read more
Summary First major LNG export facility in Canada faces startup challenges Western Canadian gas prices remain low despite LNG Canada startup LNG Canada expects export pace to increase after initial break-in period (Reuters) – Shell-led LNG Canada is experiencing technical problems as it ramps up production at its liquefied natural gas plant at Kitimat, with one … Read more
By Tanay Dhumal Baker outbids Flowserve to buy Chart Baker offers $210/shr, about 22% premium Expects $325 million in annual cost synergies in third year July 29 (Reuters) – Oilfield services firm Baker Hughes (BKR.O) said on Tuesday it would buy Chart Industries (GTLS.N) in a $13.6 billion all-cash deal, including debt, outbidding rival Flowserve … Read more
Summary LGES to provide Tesla with LFP batteries for energy storage systems from US factory -source Tesla has been looking to reduce reliance on Chinese suppliers amid tariff, policy headwinds LGES says supply contract to last from August 2027 to July 2030 (Reuters) – South Korea’s LG Energy Solution (LGES) has signed a $4.3 billion deal … Read more
(Reuters) – Mexico placed $12 billion in a debt offering to support indebted state oil producer Petroleos Mexicanos (Pemex), the nation’s finance ministry said on Tuesday. The offering came in the form of pre-capitalized securities, or P-Caps, the ministry said in a statement. The funds will go toward covering financial obligations and debt payments due … Read more
(Reuters) – About a half dozen foreign partners of Venezuela’s state-owned oil company PDVSA are awaiting authorizations from the U.S. Treasury and State departments, following talks last week about fresh licenses to allow them to operate in the sanctioned South American country, according to six company sources. The companies’ licenses, including a key one for … Read more
(Reuters) – The Environmental Protection Agency will rescind the long-standing finding that greenhouse gas emissions endanger human health, as well as tailpipe emission standards for vehicles, setting off what it describes as the largest deregulatory action in U.S. history. Republican President Donald Trump’s pick to run the EPA Lee Zeldin announced the agency’s plan to … Read more
Summary Trump cuts deadline, vows sanctions if Russia makes no progress Supply risks rise over U.S. warning to China over Russian oil China unlikely to comply with U.S. sanctions, analysts say (Reuters) – Oil prices took a breather in Asian trade on Wednesday after the previous session’s spike of more than 3%, as investors awaited … Read more
By Ana Isabel Martinez MEXICO CITY, July 29 (Reuters) – Mexican state company Pemex exported 39% less crude oil year-over-year in June, reaching the lowest level in decades, official data showed, as processing at local refineries and fuel production increased significantly. It exported 458,103 barrels per day (bpd) in June, compared to 753,539 bpd in … Read more
By Nicole Jao Brent, WTI hit highest since June 20 US to start impose tariffs and other measures on Russia ten days from today, Trump says China could face high tariffs if Beijing continued its Russian oil purchases US crude stockpiles rose by 1.54 million barrels last week – API NEW YORK, July 29 (Reuters) … Read more
(Reuters) – U.S. Treasury Secretary Scott Bessent said on Tuesday he had told Chinese officials that, given U.S. secondary tariff legislation on sanctioned Russian oil, China could face high tariffs if Beijing continued with its Russian oil purchases. Bessent was speaking after two days of bilateral talks between the world’s two largest economies in Stockholm. … Read more
Significant step high-grades the portfolio and adds value accretive customer offerings, transforms Baker Hughes’ Industrial & Energy Technology segment Chart Industries brings differentiated capabilities across a diverse set of end markets advantaged by secular growth drivers such as natural gas, data centers and decarbonization Highly complementary capabilities enable enhanced value-creation solutions for customers across the lifecycle … Read more
By Lucia Kassai and Emma Sanchez Enterprise Products Partners LP, one of the largest pipeline operators in the Permian Basin, sees oil production in the region holding up this year despite an expected drop in crude prices. Shale drillers will stick to guidance of output growth of 3% to 5% in the Permian Basin of … Read more
(Reuters) – Former Russian President Dmitry Medvedev said on Monday that a framework trade agreement struck between the European Union and the United States was “anti-Russian” likening it to a de facto ban on buying Russian oil and gas. The U.S. struck the deal with the EU on Sunday, imposing a 15% import tariff on … Read more
The U.S. and the European Union agreed on a framework trade deal on Sunday, ending months of uncertainty for industry and consumers on both sides of the Atlantic. Here are the main elements of the deal: * Almost all EU goods entering the U.S. will be subject to a 15% baseline tariff, including cars, which … Read more
European governments and companies reacted with both relief and concern on Monday to the framework trade deal struck with U.S. President Donald Trump, acknowledging what was seen as an unbalanced deal but one that avoided a deeper trade war. The agreement, announced on Sunday between two economies that account for almost a third of global … Read more
(Reuters) – Venture Global said on Monday it had reached a final investment decision and successfully closed the $15.1 billion project financing for the first phase of the CP2 LNG export facility. The CP2 project, which will be the single largest export facility of the superchilled gas in the U.S., is expected to have a … Read more
Summary Brent crude hits highest level since July 18 on Monday US and China officials at Stockholm for trade talks Trump’s shorter deadline for Russia on Ukraine war raises oil flow concerns (Reuters) – Oil extended gains on Tuesday, lifted by hopes of improved economic activity after the U.S.-EU trade deal, a potential U.S.-China tariff truce … Read more
By John Ainger, Anna Shiryaevskaya, and Julian Lee The European Union’s promise to buy $750 billion of American energy imports over three years was pivotal to securing a trade deal with President Donald Trump, but it’s a pledge it will struggle to keep. The deal would require annual purchases of $250 billion of natural gas, … Read more
$15.1 billion project financing for CP2 Phase 1 formally launches company’s 3rd project Project expected to make Venture Global the largest exporter of US LNG Unprecedented milestone of four FIDs in less than 6 years, with over $80 billion in capital markets transactions ARLINGTON, Va–(BUSINESS WIRE)–Today, Venture Global, Inc. (NYSE: VG) is announcing a final investment … Read more
(Reuters) – France denounced the trade agreement between the European Union and the U.S. as a “submission” on Monday though other EU states largely backed a deal they acknowledged was lopsided but which averts an economically damaging trade war with Washington. The framework deal, announced on Sunday between two economies accounting for almost a third … Read more
(Reuters) – U.S. President Donald Trump said on Monday he was reducing the 50-day deadline he gave Russia over its war in Ukraine, underscoring his frustration with Russian President Vladimir Putin for prolonging fighting between the two countries. “I’m disappointed in President Putin,” Trump said, speaking alongside British Prime Minister Keir Starmer ahead of their … Read more
Shares of U.S. liquefied natural gas developers surged in premarket trading on Monday, after the European Union pledged to purchase $750 billion worth of the super-cooled fuel over the next three years as part of a sweeping trade pact. NextDecade, Venture Global, and Cheniere Energy jumped between 7% and 8.8%, with the deal bolstering the … Read more
There are strong echoes of Donald Trump’s failed trade deal with China from his first term as U.S. president in the framework agreement reached with the European Union. Trump and EU Commission President Ursula von der Leyen announced the deal for a 15% tariff on U.S. imports of EU goods at the U.S. leader’s … Read more
MADRID, July 23 (Reuters) – Developers of green hydrogen have scaled back investments and scrapped projects globally as elevated production costs and weak demand for the low-carbon fuel have made many ventures unviable. Here are some projects that have been cancelled, postponed or scaled back. EUROPE Energy company LEAG’s plans to build one of Europe’s … Read more
Global stocks rose and the euro firmed on Monday after a trade agreement between the United States and the EU lifted sentiment and provided clarity in a pivotal week headlined by the Federal Reserve and the Bank of Japan policy meetings. The U.S. struck a framework trade agreement with the European Union, imposing a 15% … Read more
(Reuters) – U.S. Gulf Coast refiners are snapping up higher volumes of Middle Eastern and South American crudes to offset the loss of Venezuelan and Mexican barrels, according to ship tracking data, a workaround solution that might be short-lived if the U.S. allows some sanctioned Venezuelan crude to return to the market. The shake-up in … Read more
(Reuters) – U.S. natural gas futures held steady on Friday as near-record output and lagging flows to liquefied natural gas export plants offset forecasts for near-record heat early next week. That heat should cause power generators to burn more gas to meet soaring air conditioning demand, which will likely stress regional power systems. Front-month gas … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the 12th time in 13 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 542 in … Read more
Summary US and EU avert trade war with 15% tariff deal US, China to resume tariff talks in effort to extend truce OPEC+ panel likely to keep oil policy steady on Monday, sources say Reuters) – Oil prices rose on Monday after the U.S. reached a trade deal with the European Union and may extend … Read more
By Gavin Maguire LITTLETON, Colorado, July 24 (Reuters) – Global utilities generated a record amount of clean electricity while cutting output from fossil fuels during the opening half of 2025, thereby maintaining the momentum of international efforts to cut back on fossil fuel use in energy production. However, energy transition progress was more varied at … Read more
By Ahmad Ghaddar, Alex Lawler and Olesya Astakhova LONDON/MOSCOW, July 24 (Reuters) – An OPEC+ panel is unlikely to alter existing plans to raise oil output when it meets on Monday, four OPEC+ delegates said, noting the producer group is keen to recover market share while summer demand is helping to absorb the extra barrels. … Read more
The US president’s latest move against renewables is to pull funding for transmission lines to carry wind power. By Josh Saul US President Donald Trump’s negative impact on clean energy has been intense this year, but this week he took it to a new level. His administration on Wednesday canceled $4.9 billion in federal financing … Read more
By Georgina Mccartney Volatility in markets slows M&A in US upstream oil and gas Major deals by EOG Resources and Viper Energy dominate Q2 Future M&A may focus on international opportunities, says Dittmar HOUSTON, July 23 (Reuters) – Volatility across energy and equity markets spooked investors in the second quarter, slowing the pace of mergers … Read more
New plan combines Sunrun Flex™ solar + storage with a customized Tesla Electric retail plan to deliver lower rates, seamless backup, and peace of mind for Texas homeowners SAN FRANCISCO, July 24, 2025 (GLOBE NEWSWIRE) — Sunrun (Nasdaq: RUN), the nation’s leading provider of clean energy as a subscription service, announced today an innovative home … Read more
(Reuters) – The Organization of the Petroleum Exporting Countries (OPEC) said on Friday that the joint ministerial monitoring committee(JMMC), scheduled to convene on Monday, does not hold decision-making authority over production levels. OPEC added that claims linking the JMMC meeting to oil output changes or voluntary adjustments are ‘inaccurate and fall outside its mandate’. An … Read more
(Reuters) – Venezuela’s state-run oil company PDVSA is getting ready to resume work at its joint ventures under terms similar to Biden-era licenses, once U.S. President Donald Trump reinstates authorizations for its partners to operate and export oil under swaps, company sources said. Washington is preparing new authorizations for key PDVSA partners, starting with U.S. … Read more
(Reuters) – U.S. President Donald Trump is unlikely to follow through on his threat to place 100% tariffs on countries that buy Russian oil because it would worsen politically-damaging inflation pressures and his similar threat against buyers of Venezuelan oil has had limited success, especially in China. Trump said this month he would put 100% … Read more
(Reuters) – Chevron leaders told Hess employees to stay focused on safe operations and that they will hear next week if they will continue to have jobs following the oil producer’s acquisition, according to two Hess employees who spoke with Reuters. Chevron, the second-largest U.S. oil producer, closed its $55 billion acquisition of Hess on Friday after prevailing … Read more
By Scott Disavino US and China economic concerns impact oil prices Venezuelan oil exports may rise as US eases rules US oil/gas rig count falls for 12th time in 13 weeks – Baker Hughes NEW YORK, July 25 (Reuters) – Oil prices eased on Friday and settled at a three-week low as traders worried about … Read more
In the energy sector, equipment reliability is not just a maintenance goal—it’s a business imperative. As pressure mounts to optimize production while reducing downtime and risk, operators are increasingly turning to advanced monitoring technologies to stay ahead of mechanical issues. One of the most impactful of these is vibration monitoring, particularly when applied to turbomachinery … Read more
Summary Brent, WTI up 0.4% after 1% gain in previous session EU says trade deal with US within reach US prepares to allow limited oil operations in Venezuela, sources say Investors brace for data week next SINGAPORE, July 25 (Reuters) – Oil prices rose on Friday as trade talk optimism supported the outlook for both … Read more
Takeaways by Bloomberg AI TotalEnergies SE reported a 29% increase in net debt to $25.9 billion and a 23% decline in adjusted net income to $3.58 billion. The company said the oil market is being hurt by slower economic growth and an abundant supply, with Total’s Chief Executive Patrick Pouyanne citing an “unstable geopolitical and … Read more
Summary Policy shift risks $373 billion in clean energy investments New tax credit rules could make even fewer projects eligible for incentives Solar manufacturers concerned about demand for U.S.-made products once credits expire (Reuters) – Singapore-based solar panel manufacturer Bila Solar is suspending plans to double capacity at its new factory in Indianapolis. Canadian rival Heliene’s plans … Read more
Summary Companies US policy shift from pressure strategy on Venezuela’s oil sector Chevron’s and a handful of US licenses revoked this year Some PDVSA partners could be allowed to pay contractors, make imports and swaps Conditions aimed to deny profits to Maduro’s govt HOUSTON/WASHINGTON, July 24 (Reuters) – The United States is preparing to grant … Read more
(Reuters) – U.S. energy firm CNX Resources said in its second quarter earnings that it plans to produce more natural gas this year than previously expected to meet growing demand while spending the same amount of money. Earlier this week, two other big U.S. gas producers, EQT and Range Resources, both said in their second … Read more
(Reuters) – U.S. President Donald Trump’s administration is preparing to grant new authorizations to key partners of Venezuela’s state-run oil company PDVSA, starting with Chevron, which would allow them to operate with limitations in the sanctioned OPEC nation, four sources close to the matter said on Thursday. If granted, the authorizations to the U.S. oil … Read more
New analysis provides the most accurate public, basin-wide estimate of methane emissions for the Permian HOUSTON, July 24, 2025 /PRNewswire/ — The methane intensity of oil and gas production in the Permian Basin—an area responsible for half of U.S. oil production and one fifth of natural gas—declined by more than 50% during the 2022-2024 period … Read more
Exxon Mobil and Chevron’s recent major acquisitions raise a provocative question: does the U.S. still need two energy titans, or might it be more efficient for the two to join forces? An $800 billion combination would certainly evoke memories of Standard Oil, the conglomerate John D. Rockefeller created in 1870 that dominated the American oil industry before … Read more
(Reuters) – U.S. shale producer Continental Resources has dropped a lawsuit it filed against rival Hess Corp in May, which alleged it was defrauded out of up to $69 million through a series of deals the well operator conducted with its subsidiaries. Continental said that Hess, which operates hundreds of wells in North Dakota, artificially … Read more
(Reuters) – U.S. energy companies EQT and Range Resources expect to produce more natural gas in 2025 to meet rising demand for the fuel without boosting planned spending. Demand for gas to produce power for data centers in the U.S. and for export to the rest of the world as liquefied natural gas is on … Read more
(Reuters) – California government officials are trying to find a buyer for Valero Energy’s Benicia refinery near San Francisco, three sources familiar with the matter said, an unusual effort as the clock ticks down on the company’s planned closure of the facility in April. The rare attempt by a state government to broker the sale … Read more
(Reuters) – U.S. utilization of refinery operable capacity rose to 95.5% last week, the highest since June 2023, data from the U.S. Energy Information Administration showed on Wednesday. Refinery utilization in the U.S. Gulf Coast region rose in the week ended July 18 to 96.1%, a one-year high, the data showed. Reporting by Shariq Khan … Read more
Chevron cut 575 positions in the Houston area after it completed its $55 billion merger with Hess, a Texas Workforce Commission filing revealed on Wednesday. According to a Worker Adjustment & Retraining Notification dated July 18, the U.S. energy major laid off the employees when its takeover of Hess was officially completed. The reductions will … Read more
U.S. natural gas futures fell about 5% to a 12-week low on Wednesday on near-record output, stagnant gas flows to liquefied natural gas (LNG) export plants, and ample amounts of gas in storage. Front-month gas futures for August delivery on the New York Mercantile Exchange fell 17.5 cents, or 5.4%, to settle at $3.077 per … Read more
(Reuters) – Oil prices rose on Thursday, buoyed by optimism over U.S. trade negotiations that would ease pressure on the global economy and a sharper-than-expected decline in U.S. crude inventories. Brent crude futures gained 24 cents, or 0.4%, to $68.75 a barrel by 0032 GMT. U.S. West Texas Intermediate crude futures climbed 25 cents, or … Read more
Investors are expecting top U.S. refiners to report higher second-quarter profits, bouncing back from losses during the first three months of the year as unseasonably strong diesel margins boost earnings. Fuelmakers have reaped unexpected profits from producing key products in recent months, a respite after earnings slipped from record levels in 2022, when a recovery … Read more
(Reuters) – U.S. crude oil and gasoline inventories fell last week, buoyed by stronger demand and exports, while distillate stockpiles rose, the U.S. Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 3.2 million barrels to 419 million barrels in the week ended July 18, the EIA said, double analysts’ expectations in a … Read more
By Pietro Lombardi, Nina Chestney and Riham Alkousaa Shelved projects knock lofty ambitions for green hydrogen Subsidies alone are not enough to drive investment Prices remain uncompetitive compared with alternatives MADRID/LONDON/BERLIN, July 23 (Reuters) – Green hydrogen developers are cancelling projects and trimming investments around the world, raising the prospect of longer than targeted reliance … Read more
(Reuters) – U.S. President Donald Trump said on Tuesday that Japan will form a joint venture to develop a liquefied natural gas project in Alaska though a Japanese government official said he was not aware of such plans. It was not immediately clear whether Trump was referring specifically to the proposed $44 billion Alaska LNG … 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
Katy, Texas, July 22, 2025 (GLOBE NEWSWIRE) — CW Petroleum Corp (OTCQB: CWPE) (the “Company”), a leading provider of Specialty Renewable and Hydrocarbon Motor Fuels, today announces to its investors and future investors unaudited financial results for Q2-2025. Key Financial Highlights for Three Months Ended June 30, 2025, Compared to Prior Year Period: 2025 Revenues … Read more
HOUSTON, July 22, 2025 (GLOBE NEWSWIRE) — Amplify Energy Corp. (NYSE: AMPY) (“Amplify,” the “Company,” “us,” or “our”) today announced an update on strategic initiatives and changes to the executive leadership team. Strategic Initiatives Amplify is committed to simplifying its portfolio, focusing capital and management resources on the most attractive investment opportunities, and creating value … Read more
FREMONT, Calif., July 22, 2025 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, announced today financial results for the second quarter of 2025, which included the summary below from its President and CEO, Badri Kothandaraman. We reported quarterly revenue of $363.2 … Read more
FORT WORTH, Texas, July 22, 2025 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: RRC) today announced its second quarter 2025 financial results. Second Quarter 2025 Highlights – Cash flow from operating activities of $336 million Cash flow from operations, before working capital changes, of $301 million Repurchased $53 million of shares, paid $21 million in dividends, … Read more
Second-quarter highlights Orders of $7.0 billion, including $3.5 billion of IET orders. RPO of $34.0 billion, including record IET RPO of $31.3 billion. Revenue of $6.9 billion, down 3% year-over-year. Attributable net income of $701 million. GAAP diluted EPS of $0.71 and adjusted diluted EPS* of $0.63. Adjusted EBITDA* of $1,212 million, up 7% year-over-year. Cash flows from operating activities of $510 million and free cash flow* of $239 million. Returns to shareholders of $423 million, including $196 … Read more
U.S. Energy Secretary Chris Wright said on Fox News on Tuesday that sanctioning Russian oil to end the Ukraine war is a “very real possibility.” President Donald Trump said this month that Washington could put 100% tariffs on buyers of Russian oil and impose other sanctions if Moscow does not agree to a major peace … Read more
U.S.-based energy company EQT Corp beat Wall Street estimates for second-quarter adjusted profit on Tuesday, benefiting from stronger natural gas prices and sales volumes, sending its shares up 1.2% in extended trading. Higher natural gas prices through 2025 than last year have supported production levels, according to the U.S. Energy Information Administration (EIA). The energy … Read more
By Natasha White At least three large oil and gas companies have walked away from an initiative seeking to put the industry on a credible path toward net zero emissions. Shell Plc, Aker BP ASA and Enbridge Inc. have all left the expert advisory group of the Science Based Targets initiative, the leading global standard … Read more
Baker Hughes wraps up oilfield sector earnings with profit beat, cautious upstream spending outlook Company aims to exceed $1.5 billion data center orders target earlier than expected Gas technology services orders surge 28%, boosting IET revenue July 22 (Reuters) – Oilfield services provider Baker Hughes (BKR.O) surpassed Wall Street expectations for second-quarter profit on Tuesday, … Read more
By Shariq Khan Stone Ridge Energy emerged as top bidder in auction of assets Flywheel Energy to operate assets on behalf of Stone Ridge, source says ConocoPhillips aims to surpass $2 billion divestment target (Reuters) – U.S. oil and gas producer ConocoPhillips (COP.N) is in advanced talks to sell assets in Oklahoma to privately owned … Read more
MEXICO CITY, July 22 (Reuters) – Mexico’s finance ministry announced an upcoming operation on Tuesday aimed at strengthening the finances of the country’s heavily-indebted state energy company Petroleos Mexicanos (Pemex). In a statement, the ministry said the operation would consist of issuing financing instruments called pre-capitalized notes, but that the operation would not constitute a … Read more
By Laila Kearney NEW YORK, July 22 (Reuters) – MISO, a top North American power grid operator, will fast-track the process for new power plants to connect to the grid after U.S. federal regulators approved the plan, the organization said on Tuesday. WHY IT MATTERS U.S. grids have seen demand shoot up in recent months … Read more
(Reuters) – U.S. natural gas output could fall in coming months, after touching record highs in the second quarter, according to some analysts, setting the stage for prices to rise as demand from new liquefied natural gas exports and power plants come online. Even though the number of gas rigs operating has climbed to a … Read more
By Anna Shiryaevskaya and Elena Mazneva Global supply of liquefied natural gas is set to surge the most since 2019 next year, primarily driven by production additions in North America, the International Energy Agency said. The increase in supply will accelerate to 7%, or 40 billion cubic meters a year in 2026, following a 5.5% … Read more
By Curtis Williams Exxon interested in blocks near Guyana’s Stabroek field Trinidad’s new PM aims to boost offshore investment Ongoing deepwater auction excludes Exxon’s desired blocks Trinidad open to bids outside auctions, minister hints HOUSTON, July 22 (Reuters) – Exxon Mobil (XOM.N) has begun negotiations with the Trinidad and Tobago government to explore for oil … Read more
By Arathy Somasekhar and Tanay Dhumal North America revenue to decline in low-double digits in 2025 2025 international revenue to contract by mid-single digits Trump tariffs to hit profit by $35 million in Q3 HAL shares down 0.7% at $21.03. July 22 (Reuters) – Oilfield services company Halliburton (HAL.N) forecast a sharp decline in full-year … Read more
(Reuters) – Oil production in North Dakota fell 61,000 barrels-per-day (bpd) to 1,113,000 bpd in May, 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
(Reuters) – There are currently 29 rigs in North Dakota, down from 32 in June, the state regulator said on Tuesday. North Dakota is the third-largest oil-producing state. Reporting by Georgina McCartney in Houston; Editing by Leslie Adler
(Reuters) – Oil prices steadied in early trading on Wednesday after falling for three consecutive sessions as a U.S. trade deal with Japan signaled progress on tariffs and a poll showed U.S. crude stockpiles fell last week, indicating stronger demand. Brent crude futures rose 33 cents, or 0.48%, to $68.92 a barrel by 0023 GMT. … Read more
(Reuters) – The United States became a net exporter of crude oil to Nigeria in February and March, as crude demand on the U.S. East Coast slowed due to refinery maintenance and the Dangote refinery drove up Nigeria’s demand for inputs, the U.S. Energy Information Administration said in a note on Tuesday. WHY IT’S IMPORTANT … Read more
(Reuters) – U.S. oilfield service provider Halliburton on Tuesday said Mexico’s crude production decline rates are creating pressure for a reactivation of business amid long delays from state-run Pemex to pay its suppliers. Output of crude and condensate by Pemex, the largest producer in the country, fell 8.4% in May to 1.64 million barrels per … Read more
Prices out of an annual energy auction held by PJM Interconnection, the largest grid operator in the U.S., cleared at $329.17 a megawatt-day, 22% higher than last year’s record-high levels, according to results released by the organization on Tuesday. A recent surge in U.S. power consumption driven by Big Tech’s data center demand has butted … Read more
By Ron Bousso EU sanctions unlikely to impact Russia’s oil revenue severely India and China may continue buying discounted Russian crude Trump’s secondary sanctions could pressure Russia but risk global oil price surge LONDON, July 22 – The European Union’s latest effort to restrict Russia’s oil revenue is unlikely to hurt Moscow’s war effort severely, … Read more
(Reuters) – Shell and other leading energy groups have abandoned a six-year-long attempt to define a net zero emissions strategy after being told that such a standard would require them to stop developing new oil and gas fields, the Financial Times reported on Tuesday. Shell, Norway’s Aker BP and Canada’s Enbridge have all quit the … Read more
Takeaways by Bloomberg AI The biggest US power auction, run by PJM Interconnection LLC, will offer an early glimpse of what the AI boom will cost consumers, according to Bloomberg. The soaring price tag of the auction is due to booming demand from data centers, says the grid operator’s independent market monitor, raising concerns that … Read more
(Reuters) – Halliburton reported about 33% fall in profit for the second quarter on Tuesday, hurt by weak demand for its oilfield services in North America, Saudi Arabia and Kuwait. The company had flagged a second-quarter earnings impact from President Donald Trump’s tariffs and lower oilfield activity in North America as producers evaluated drilling and completions at weak … Read more
(Reuters) – A key difference in crude oil demand forecasts between this year and 2024 is that both OPEC and the International Energy Agency (IEA) are being far more cautious in their growth expectations. While the Organization of the Petroleum Exporting Countries (OPEC) and the wider OPEC+ group publicly maintain that strong demand and a … Read more
Summary Imports surge, boosting gasoline storage demand East Coast gasoline prices drop below national average OPEC production increase pressures oil prices lower (Reuters) – U.S. gasoline prices could fall below $3 a gallon this summer for the first time in over four years as a stretch of bad weather events dampens fuel demand and a … Read more
(Reuters) – Energy infrastructure company Enbridge said on Tuesday it had reached a final investment decision to invest $900 million on a 600 megawatt solar power project in Texas, as demand for clean energy from tech companies drives growth in renewables. Meta Platforms has signed a long-term contract to purchase 100% of the project’s renewable output … Read more
Summary Gas’ share of power rose to 17.5% in 2025 from 2023 record low Coal’s share in power fell to 57.2% from 2024 record of 61.9% Philippines’ LNG imports up 51% in H1 2025 H1 coal imports fell for first time since pandemic in 2025 (Reuters) – The Philippines is on track for an annual … Read more
(Reuters) – Oil prices edged down on Tuesday as concerns the brewing trade war between major crude consumers the U.S. and the European Union will curb fuel demand growth by lowering economic activity weighed on investor sentiment. Brent crude futures fell 24 cents, or 0.35%, to $68.97 a barrel by 0055 GMT after settling 0.1% … Read more
Taiwan’s state-owned energy company CPC Corp said it is not in talks for “specific” shale gas fields in the United States, but it does not rule out any prospective partners and will make the most favourable decision based on its own evaluations. CPC is in early stage discussions to buy shale-gas producing assets in … Read more
Global fusion energy investment grew by $2.64 billion in the year since last July, an industry group said in an annual industry survey on Monday, but companies said they need much more money to take the industry commercial. The investment rise took place in places including the United States, the EU, Japan, China and Britain … Read more
Vast geological riches underpin Canada’s immense energy potential By Brad Hayes Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Geological core samples of bitumen resources located at the Alberta Energy Regulator’s Core Research Centre in Calgary. Photo courtesy AER We hear about Canada’s aspirations to become an “energy superpower” … Read more
(Reuters) – U.S. natural gas futures fell about 6% to a one-week low on Monday on record output, forecasts for less hot weather over the next two weeks, stagnant gas flows to liquefied natural gas export plants and ample amounts of gas in storage. Front-month gas futures for August delivery on the New York Mercantile … Read more
Shifting seasonality means global demand will be lower in the fourth quarter than the third. By Javier Blas The oil market is deceptively calm. Below the apparent tranquility lies an underappreciated transformation that has slowly reshaped the market over the last 25 years — because the arrival of China and India as big consumers hasn’t … Read more
Saudi Arabia’s crude oil exports in May rose to their highest in three months, data from the Joint Organizations Data Initiative (JODI) showed on Monday. Crude exports from the world’s largest oil exporter rose to 6.191 million barrels per day (bpd) from 6.166 million bpd in April.Saudi’s crude output for May was at 9.184 million … Read more
The Trump administration is more concerned with the quality of trade agreements rather than their timing, U.S. Treasury Secretary Scott Bessent said on Monday ahead of an Aug. 1 deadline for securing a trade deal or facing steep tariffs. “We’re not going to rush for the sake of doing deals,” Bessent told CNBC in an … Read more
Asia’s run of subdued imports of liquefied natural gas (LNG) is set to extend for another month in July, with the top-importing region on track for a tiny increase from June. Asia’s imports of the super-chilled fuel are estimated at 22.07 million metric tons in July, up from 21.80 million in June, according to data … Read more
By Ron Bousso Chevron wins legal dispute over Hess’s stake in Guyana’s Stabroek oil block Exxon-Chevron rivalry shapes U.S. energy sector, competing for dominance in shale oil Oil firms face dwindling reserves, limited options for building reserves amid cost control LONDON, July 18 – The high-stakes clash between Exxon Mobil and Chevron over a prized … Read more
Summary Demand growth forecasts left unchanged Says Kazakhstan output still above OPEC+ quota Says refinery intake to stay elevated to meet summer fuel demand (Reuters) – OPEC said the global economy may perform better than expected in the second half of the year despite trade conflicts and refineries’ crude intake would remain elevated to meet … Read more
Summary Acquisition of Hess boosts long-term growth prospects Stabroek Block holds 11 billion barrels of oil equivalent Chevron’s reserves fell to lowest in a decade, shares down 7.5% over past year HOUSTON, July 18 (Reuters) – Chevron’s imminent entry into Guyana’s rich offshore oilfields solves one of the biggest problems dogging the U.S. major: where its … Read more
July 17 (Reuters) – The Trump administration said on Thursday that decisions related to solar and wind energy facilities on federal lands will be reviewed by the office of Interior Secretary Doug Burgum to end what it says has been preferential treatment for the renewable energy sources. The elevated scrutiny is aligned with President Donald … Read more
By Gavin Maguire LITTLETON, Colorado, July 18 (Reuters) – U.S. President Donald Trump has singled out the coal industry as a key driver of U.S. energy dominance, but there are currently no new U.S. coal plants under construction and utilities have identified quicker and cheaper paths to boost power supplies. In the first few months … Read more
Summary Argent LNG, Baker Hughes, Hunt Energy form coalition for Syria energy masterplan Masterplan includes oil, gas exploration and power generation Syria’s energy infrastructure needs billions in investment Focus on areas west of Euphrates under Syrian government control DAMASCUS, July 18 (Reuters) – U.S.-based firms Baker Hughes, Hunt Energy and Argent LNG will develop a … Read more
Summary Companies EU sanctions target Russian crude supply, impact uncertain Iran nuclear talks for Friday may affect oil market dynamics U.S. tariffs on EU imports could influence oil demand (Reuters) – Oil prices were little changed on Monday as traders assess the impact of new European sanctions on Russian oil supplies while they also worry … Read more
U.S. oil and gas major Chevron completed its $53 billion acquisition of Hess on Friday, after it prevailed in a landmark legal battle against larger rival Exxon Mobil to gain access to the biggest oil discovery in decades. Chevron’s acquisition of Hess will secure the company a 30% stake in Guyana’s prolific Stabroek Block, making it one … Read more
July 18 (Reuters) – Top oilfield services firm SLB (SLB.N) narrowly beat Wall Street expectations for second-quarter profit on Friday, as resilient demand in parts of its international business helped offset drilling slowdown in North America, Mexico and Saudi Arabia. SLB, the first of the Big Three U.S. oilfield services provider to report quarterly results, … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for the first time in 12 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 seven, its biggest weekly increase since December, to … Read more
Exxon Mobil has lost its arbitration challenge to block Chevron’s $55 billion Hess acquisition deal, but the top U.S. oil producer managed to delay the tie-up by over a year, costing its rival billions in lost Guyana oil revenue and slowing integration. Chevron’s deal, first announced in October 2023, closed on Friday after a drawn-out dispute … Read more
HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) today announced that it has applied to the Alberta Securities Commission (ASC), as principal regulator, and the Ontario Securities Commission (OSC) for a joint order (the Order Sought) to cease to be a reporting issuer in all jurisdictions of Canada in which it is a reporting issuer. If the Order Sought is … Read more
Summary US consumer sentiment up, but homebuilding drops US Trump seeking minimum tariffs on EU EU to stop importing fuels from Russia Chevron closes Hess acquisition after arbitration win (Reuters) – Crude oil futures were little changed on Friday on mixed U.S. economic and tariff news and worries about oil supplies following the European Union’s … Read more
(Reuters) – U.S. natural gas futures edged up about 1% to a three-week high on Friday as hot weather forces power generators to burn lots of the fuel to keep air conditioners humming and a slow but steady rise in gas flows to liquefied natural gas (LNG) export plants. That price increase came despite ample … Read more
By Sheila Dang Hess takeover is one of largest energy deals in decades Chevron CEO’s strategy hinged on completing acquistion Exxon says it disagrees with arbitration court decision Shares in Chevron, Exxon down in early trade HOUSTON, July 18 (Reuters) – Chevron (CVX.N) closed its $55 billion acquisition of Hess (HES.N) on Friday after winning … Read more
SPRING, Texas–(BUSINESS WIRE)–Exxon Mobil Corporation (NYSE:XOM) released a statement today following a ruling by the International Chamber of Commerce (ICC) Tribunal related to its contractual dispute with Hess Corporation over interests in the Stabroek Block offshore Guyana: STATEMENT: We disagree with the ICC panel’s interpretation but respect the arbitration and dispute resolution process. As we’ve said … Read more
By Timour Azhari U.S. President Donald Trump meets with Syrian President Ahmed al-Sharaa in Riyadh, Saudi Arabia, in this handout released on May 14, 2025. Argent LNG, Baker Hughes, Hunt Energy form coalition for Syria energy masterplan Masterplan includes oil, gas exploration and power generation Syria’s energy infrastructure needs billions in investment Focus on areas … Read more
By Sheila Dang Acquisition of Hess boosts long-term growth prospects Stabroek Block holds 11 billion barrels of oil equivalent Chevron’s reserves fell to lowest in a decade, shares down 7.5% over past year HOUSTON, July 18 (Reuters) – Chevron’s (CVX.N) imminent entry into Guyana’s rich offshore oilfields solves one of the biggest problems dogging the … Read more
By Jonathan Saul and Renee Maltezou ATHENS, July 18 (Reuters) – Greek tanker operators shipping approved Russian oil exports are expected to continue doing so despite a new wave of tougher sanctions by the European Union that will further tighten restrictions, shipping sources said on Friday. Much of Russia’s oil is now exported by a … Read more
By Scott Disavino US consumer sentiment up, but homebuilding drops EU to stop importing fuels from Russia Chevron closes Hess acquisition after arbitration win NEW YORK, July 18 (Reuters) – Crude oil futures held steady on Friday as mixed U.S. economic news offset worries the European Union’s latest sanctions against Russia for its war in … Read more
By Yamini Kalia and Raechel Thankam Job July 18 (Reuters) – BP (BP.L) has agreed to sell its U.S. onshore wind business to U.S.-based power grid operator LS Power, as part of its ongoing divestment strategy, the energy major said on Friday, without disclosing a deal value. BP has come under criticism from investors for … Read more
PRAGUE, July 17 (Reuters) – Slovakia will stop blocking the approval of the 18th package of European Union sanctions against Russia on Friday, Prime Minister Robert Fico said. Fico said on Thursday Slovakia had achieved as much as it could at this point, after blocking the EU’s approval of the sanctions multiple times to demand … Read more
WASHINGTON, July 17 (Reuters) – The U.S. Federal Trade Commission on Thursday reversed a previous order that had barred Hess Corp (HES.N) CEO John Hess from the board of directors at Chevron (CVX.N) as a condition of the oil giant’s pending $53 billion acquisition of his company. ExxonMobil (XOM.N) and Hess are locked in an … Read more
By Kate Abnett BRUSSELS, July 17 (Reuters) – The European Commission wants to open up part of its proposed 2 trillion euro EU budget for 2028-2034 to nuclear energy, a move likely to divide the bloc’s member states, which Germany immediately rejected. In an annex to its mammoth budget proposal published on Wednesday, the Commission … Read more
(Reuters) – Brazilian state-run oil firm Petrobras may redirect the oil it sells to the United States, sending more to Asia and Pacific markets due to higher tariffs the U.S. announced on Brazil, its chief executive told Reuters on Thursday. Although oil and gas exports make up a hefty share of Brazil’s exports to the … Read more
*Crude inventories drop by 3.9 mln bbls, surpassing forecast *Brent and US crude futures extend losses after EIA report *Crude exports rise to 3.5 mln bpd, EIA reports (Adds details throughout, commentary, market reaction, milestones) By Stephanie Kelly CHICAGO, July 16 – U.S. crude oil stockpiles fell last week as exports rose, while gasoline and … 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 Thursday, two days after one of the plant’s three liquefaction trains shut, according to a company filing with state regulators and gas flow data from financial firm LSEG. Freeport told Texas environmental regulators on … Read more
(Reuters) – Oil prices were little changed on Friday after rising in the previous session as concerns drone attacks on northern Iraqi oil fields will cut supply vied with worries of potential demand declines amid uncertainty in U.S. tariff policy. Brent crude futures eased 4 cents, or 0.06%, to $69.48 a barrel as of 0239 … Read more
July 17 (Reuters) – The New York State Public Service Commission has terminated its offshore wind transmission planning process due to stalled federal permitting, to protect state ratepayers from premature infrastructure costs, it said on Thursday. This halts the Public Policy Transmission Need process of seeking proposals to deliver up to 8 gigawatts of offshore … Read more
By Nichola Groom July 17 (Reuters) – A group of U.S. solar panel manufacturers asked the Commerce Department on Thursday to impose tariffs on imports from Indonesia, India and Laos, accusing companies there of dumping cheap goods in the market to undercut new American factories. The petition is the latest effort by the small U.S. … Read more
By Erwin Seba Middle East tensions add volatility to oil market Tight crude, product inventories support market Analysts expect possible price weakness before U.S. tariffs revealed HOUSTON, July 17 (Reuters) – Oil prices rose on Thursday after drones struck Iraqi Kurdistan oil fields for a fourth day, pointing to continued risk in the volatile region. … Read more
(Reuters) – U.S. liquefied natural gas company Freeport LNG’s export plant in Texas was on track to take in more natural gas on Thursday, two days after one of the plant’s three liquefaction trains shut, according to a company filing with state regulators and gas flow data from financial firm LSEG. Freeport told Texas environmental … Read more
The United States withdrew oil from its Strategic Petroleum Reserve for the first time last week since December 2023, data from the Energy Information Administration showed on Wednesday. 300,000 barrels of crude oil were taken out of the reserve last week, the data showed. The U.S. Energy Department had announced last week that it will … Read more
Enhanced portfolio drives innovation in production and reservoir recovery, expands SLB’s presence in high-growth vertical, and accelerates digital adoption HOUSTON–(BUSINESS WIRE)–SLB (NYSE: SLB) announced today that it has closed its previously announced acquisition of ChampionX Corporation. Under the terms of the agreement, ChampionX shareholders received 0.735 shares of SLB common stock in exchange for each ChampionX share. … Read more
(July 16 – Reuters) – Giant shovels, driverless trucks and a dog-like robot have all helped Canada’s oil sands companies including Imperial Oil and Suncor become some of North America’s lowest-cost oil producers, driving down overheads even as the worst inflation in a generation pushed U.S. shale costs up. As the global oil industry enters … Read more
BAGHDAD, July 16 (Reuters) – A drone attack struck an oilfield operated by U.S. company Hunt Oil in the Iraqi Kurdish city of Dohuk on Wednesday, security sources said. It was the latest in a series of attacks on oilfields in the semi-autonomous Kurdistan region in recent days. It also marked the second attack on … Read more
By Francesca Landini MILAN, July 16 (Reuters) – Venture Global (VG.N) will supply 2 million metric tons a year of liquefied natural gas to Italian state-controlled energy group Eni (ENI.MI), the two companies said on Wednesday. The deal is Eni’s first long-term contract for LNG coming from the United States after Italian prime minister Giorgia … Read more
(Reuters) – Oil prices rose in early trade on Thursday, reversing the previous session’s losses, buoyed by stronger-than-expected economic data from the world’s top oil consumers and signs of easing trade tensions. Brent crude futures rose 27 cents, or 0.39%, to $68.79 a barrel at 0000 GMT. U.S. West Texas Intermediate crude futures were up … Read more
The pickup giant will also pivot to hybrids and extended-range EV models, sustainability chief Bob Holycross says. By Kyle Stock An electric Ford Explorer sports utility vehicle (SUV) on an assembly line in Cologne, Germany, in 2023.Photographer: Alex Kraus/Bloomberg Ford Motor Co.’s cheapest electric vehicle can be had for just shy of $38,000. That’s 22% … Read more
By Vallari Srivastava July 16 (Reuters) – Kinder Morgan (KMI.N) posted a 24% rise in second-quarter profit on Wednesday, as higher volumes of natural gas were transported through its pipelines and demand for the company’s infrastructure rose. Pipeline operators such as Kinder Morgan are benefiting from an increase in demand for natgas, primarily driven by … Read more
July 16 (Reuters) – Clean energy companies are asking California leaders for help getting their projects going before changes to federal subsidies in President Donald Trump’s sweeping new tax and spending law make them more expensive and difficult to build. In a letter to California Governor Gavin Newsom and state legislative leaders circulated on Wednesday, … Read more
By Stephen Nellis SAN FRANCISCO, July 16 (Reuters) – Microsoft and a U.S. national laboratory on Wednesday said they are partnering to examine how artificial intelligence could be used to speed up the process of compiling the documents needed to secure permits for new nuclear power plants. Microsoft (MSFT.O) and the Idaho National Laboratory (INL) … Read more
ARLINGTON, Va.–(BUSINESS WIRE)–Today, Venture Global, Inc. (NYSE: VG) and Eni S.P.A. of Italy announced the execution of a new Sales and Purchase Agreement (SPA) for the purchase of 2 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from CP2 LNG, Venture Global’s third project, for 20 years. This deal marks Eni’s first ever … Read more
Venture Global wants to expand its Plaquemines LNG export facility by 24.8 million metric tons per annum (mtpa), almost 6 mtpa more than it originally proposed just four months ago, according to a regulatory filing issued late on Monday. Venture Global is already constructing the United States’ second-largest LNG plant in Plaquemines Parish, Louisiana, and … Read more
Scott Sheffield, the founder and former CEO of Pioneer Natural Resources, cannot directly challenge a Biden-era order barring him from ExxonMobil’s board after its acquisition of Pioneer, the Federal Trade Commission said on Tuesday, while adding it would revisit the order regardless. While the FTC’s three Republican commissioners voted unanimously to deny Sheffield’s bid on … Read more
July 15 (Reuters) – Four contract workers were injured after a fire at Chevron’s (CVX.N) 356,440 barrels-per-day (bpd) Pascagoula, Mississippi refinery on Monday, the company said in an email statement. An incident at the refinery’s wastewater treatment area led to the fire, a Chevron spokesperson said. The spokesperson added that the fire was extinguished quickly … Read more
(Reuters) – Oil prices rose on Wednesday on expectations of steady demand in the U.S. and China, the world’s two largest oil users, amid an improving economic outlook. Brent crude futures rose 29 cents, or 0.42%, to $69 a barrel by 0105 GMT. U.S. West Texas Intermediate crude futures were up 40 cents, or 0.6%, … Read more
By Jarrett Renshaw Trump to announce some $90 bln in energy and data center investments in Pennsylvania The event comes as White House prepares executive orders to boost AI and data centers Big Tech is scrambling to access a strained national power grid to power the energy-guzzling data centers PITTSBURGH, Pennsylvania, July 15 (Reuters) – … Read more
(Reuters) – Asset management firm Blackstone will announce on Tuesday a $25 billion investment in data centers and energy infrastructure in Pennsylvania, Chief Operating Officer Jon Gray said at a panel at the Energy and Innovation Summit in Pittsburgh. Gray said Blackstone had identified several sites to build large data centers and would also later … Read more
By Laila Kearney NEW YORK, July 15 (Reuters) – Google has agreed to secure as much as 3 gigawatts of U.S. hydropower in the world’s largest corporate clean power pact for hydroelectricity, the company said on Tuesday, as Big Tech pursues the expansion of energy-hungry data centers. The deal between Google and Brookfield Asset Management … Read more
(Reuters) – Britain’s antitrust watchdog has cleared oilfield services firm SLB’s $8 billion acquisition of ChampionX after accepting commitments to address competition concerns, with the deal set to close on Wednesday. The UK’s Competition and Markets Authority accepted commitments from SLB and ChampionX instead of launching a more detailed Phase 2 investigation, it said on … Read more
BERLIN, July 15 (Reuters) – Germany’s onshore wind power sector recorded its strongest half-year since 2017, but the expansion still falls short of the legally mandated targets, the BWE wind power lobby said on Tuesday. Berlin aims to source 80% of Germany’s electricity from renewable energy by 2030, a goal accelerated by recent reforms and … Read more
By Ron Bousso Oil markets discount risk of Trump hitting Russia with secondary sanctions Russia produces nearly 10% of global oil, is the third largest exporter Secondary sanctions could lead to severe energy price shock, inflation LONDON, July 15 – U.S. President Donald Trump’s threat to choke off Russia’s oil revenue via secondary sanctions would … Read more
Russia does not care about U.S. President Donald Trump’s “theatrical ultimatum” about slapping sanctions on buyers of Russian exports unless Moscow agrees to a peace deal in Ukraine, a senior security official said on Tuesday. Trump, sitting beside NATO Secretary General Mark Rutte in the Oval Office, on Monday, announced new weapons for Ukraine and … Read more
By Stephanie Kelly Potential sanctions on Russia could alter oil market outlook, ING analysts note China’s economic data supportive for prices despite global growth concerns NEW YORK, July 15 (Reuters) – Oil prices dropped by less than 1% on Tuesday after U.S. President Donald Trump’s 50-day deadline for Russia to end the war in Ukraine … Read more
U.S. natural gas storage is on track to end the April-October summer injection season at a three-year low of 3.797 trillion cubic feet (tcf) on October 31, 2025, according to analysts’ estimates. That compares with an eight-year high of around 3.938 tcf at the end of the summer injection season in 2024 and a five-year … Read more
By Anastasiia Malenko, Steve Holland and Dan Peleschuk Trump threatens secondary sanctions on Russia in 50 days Says up to 17 Patriot batteries could be available ‘very soon’ Russian markets rise, suggesting relief over delay KYIV/WASHINGTON, July 14 (Reuters) – U.S. President Donald Trump announced new weapons for Ukraine on Monday, and threatened sanctions on … Read more
(Reuters) – Venture Global has started producing liquefied natural gas from Phase 2 of its Plaquemines export facility in Louisiana, according to two people familiar with its operations as well as LSEG ship tracking data and federal filings. In the last six months, the United States’ second-largest LNG producer has exported LNG from Phase 1 … Read more
Summary Legal agreement delays Rice’s whale critical habitat designation until 2027 Delay follows legal disputes over oil and gas drilling impacts on endangered whale Fewer than 100 Rice’s whales remain in Gulf of Mexico July 14 (Reuters) – U.S. President Donald Trump’s administration will delay by two years a final rule designating protections for the … Read more
July 14 (Reuters) – U.S. shale producer Occidental Petroleum (OXY.N) said on Monday its Gulf of Mexico production in the second quarter was curtailed due to third-party constraints, extended maintenance, and schedule-related delays. The company said sales volumes from what it calls the “Gulf of America” — referring to the Gulf of Mexico — are … Read more
July 15 (Reuters) – Oil prices edged down on Tuesday as the market digested U.S. President Donald Trump’s 50-day deadline for Russia to end the Ukraine war and avoid sanctions on buyers of its oil, while worries continued to linger over Trump’s trade tariffs. Brent crude futures fell 5 cents to $69.16 a barrel by 0000 GMT, while U.S. West … Read more
(Reuters) – Goldman Sachs on Monday raised its Brent oil price forecast for the second half of 2025 by $5 to $66 per barrel due to supply disruption risks, lower stocks in Organisation for Economic Co-operation and Development countries and rising concerns about Russia’s production constraints. The bank also increased its forecast for U.S. West … Read more
ConocoPhillips is pushing to explore for more oil near its roughly $7.5 billion Willow project in Alaska, betting there are vast reserves of undiscovered crude in the state’s Arctic north. The company filed applications Monday with federal regulators asking to drill four new test wells and undertake seismic studies to search for additional oil in the … Read more
(Reuters) – U.S. natural gas futures jumped about 5% to a one-week high on Monday on forecasts for hotter weather over the next two weeks than previously expected and rising flows of gas to liquefied natural gas (LNG) export plants. Front-month gas futures for August delivery on the New York Mercantile Exchange rose 15.2 cents, … Read more
BELGRADE, July 14 (Reuters) – Talks between Belgrade and the United States over postponing sanctions against Russian-owned Serbian oil company NIS for a fifth time have been marred with difficulties, Serbian mining and energy minister Dubravka Djedovic Handanovic said on Monday. NIS (NIIS.BEL) has so far secured a fourth reprieve, which is due to expire … Read more
PITTSBURGH, July 14 (Reuters) – U.S. President Donald Trump will announce $70 billion in artificial-intelligence and energy investments on Tuesday, according to a White House official and a person familiar with the initiatives. Trump will reveal details of these new initiatives at an event near Pittsburgh, where he will be joined by Republican Senator David … Read more
By Eric Onstad Chinese low prices thwarted efforts to shake its dominance Industry elsewhere has long campaigned for alternative pricing Sole domestic US rare earth miner aims for commercial magnet production late this year LONDON, July 14 (Reuters) – U.S. efforts to break China’s dominance of the rare earths market and to drive investment in … Read more
By Nicole Jao US threatens to hit buyers of Russian exports with sanctions China’s crude imports at highest level since August 2023 EU set to lower Russian oil price cap, sources say NEW YORK, July 14 (Reuters) – Oil prices settled down on Monday by more than $1, as investors weighed new threats from U.S. … Read more
By Ron Bousso Oil demand growth slows sharply in second quarter Saudi oil exports set to surge to 7.5 mln bpd in July amid higher production Saudi power generation crude burn limits exports during summer LONDON, July 14 – Oil markets have remained remarkably resilient so far this year, despite concerns over U.S. President Donald … Read more
(Reuters) – A look at the day ahead in European and global markets from Wayne Cole. It looks increasingly clear that for President Trump, tariffs are mainly a convenient means of dominating the news cycle and staying in the headlines. Not for him are months of tortuous, complex trade talks aimed at a win-win outcome. … Read more
For energy land professionals, land information is an incredibly valuable asset. Yet, ironically, this critical data often becomes a bottleneck, hidden in overflowing file rooms or scattered across multiple applications. The time spent trying to locate the information you need can significantly hinder your operations and decision-making processes. The Challenge: Time Lost in the Search … Read more
European Union envoys are on the verge of agreeing an 18th package of sanctions against Russia for its full-scale invasion of Ukraine that would include a lower price cap on Russian oil, four EU sources said after a Sunday meeting. The sources said all the elements of the package had been agreed, although one member … 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
Summary Mars challenges add to tightening gulf coast oil supply Exxon to borrow crude from US emergency stash Chevron sees no impact to current production guidance (Reuters) – The start-up of an offshore well caused zinc contamination in Mars crude, Chevron said on Friday, leading to the tightening crude oil supply in the key Gulf Coast … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for an 11th week in a row for the first time since July 2020 when the COVID-19 pandemic cut demand for the fuel, energy services firm Baker Hughes said in its closely followed report on Friday. The oil … Read more
(Reuters) – Taiwan’s state-owned energy company CPC Corp is in early stage discussions to buy shale-gas producing assets in the United States, three sources familiar with the matter said, in a bid to secure natural gas supplies to fuel Taiwan’s economy. If a deal is struck, CPC would join a growing list of Asian companies … Read more
Summary EU set to lower Russian oil price cap, sources say Saudi Arabia says it complies with voluntary OPEC+ output target Saudi marketed crude supply in June was 9.352 million bpd (Reuters) – Oil prices nudged higher on Monday, adding to gains of more than 2% from Friday, as investors eyed further U.S. sanctions on … Read more
(Reuters) – U.S. natural gas storage is on track to end the April-October summer injection season at a three-year low of 3.797 trillion cubic feet (tcf) on October 31, 2025, according to analysts’ estimates. That compares with an eight-year high of around 3.938 tcf at the end of the summer injection season in 2024 and … Read more
(Reuters) – The European Commission proposed on Friday a floating price cap on Russian oil of 15% below the average market price of crude in the previous three months, EU diplomats said. The European Union and Britain have been pushing the Group of Seven nations to lower the cap for the last two months after … Read more
(Reuters) – Saudi Arabia’s energy ministry said on Friday the kingdom had been fully compliant with its voluntary OPEC+ output target, adding that Saudi marketed crude supply in June was 9.352 million barrels per day, in line with the agreed quota. The statement follows a report this month by the International Energy Agency (IEA), which … Read more
Summary Brent and WTI rise over 2% after losses in previous session Baker Hughes reports 11th consecutive week of U.S. rig count decline Trump promises major statement on Russia on Monday Saudi Arabia complies with OPEC+ output targets, energy ministry confirms NEW YORK, July 11 (Reuters) – Oil prices rose over 2% on Friday as … Read more
(Reuters) – U.S. natural gas futures held steady on Friday as rising flows to liquefied natural gas (LNG) export plants offset forecasts for less hot weather and lower demand next week than previously expected. Front-month gas futures for August delivery on the New York Mercantile Exchange rose 1.4 cents, or 0.4%, to $3.351 per million … Read more
The International Energy Agency says the kingdom exceeded its output quota by about 700,000 barrels a day. The most surprising part of the International Energy Agency’s latest monthly outlook isn’t its demand forecast, which remains pessimistic, but rather what it says about how much oil an OPEC+ stalwart pumped last month. Traditional production quota cheats … Read more
World oil market may be tighter than it looks, IEA says IEA sees 2025 demand growth slowing to 700,000 bpd Raises 2025 supply forecast after OPEC+ hike Says price indicators suggest tighter physical market (Reuters) – The world oil market may be tighter than it appears despite a supply and demand balance pointing to a … 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
By Grant Smith OPEC reinforced its view — an outlier even within the petroleum industry — that global oil consumption will keep increasing to the middle of the century. Demand will grow by roughly 19% to reach almost 123 million barrels a day by 2050, the Organization of the Petroleum Exporting Countries said in a … 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
Summary Brent, WTI rise after 2% loss in previous session IEA describes tight market despite flagging surplus for 2025 Summer travel demand propping up prompt market Trump says he will make a major statement on Russia on Monday (Reuters) – Oil prices edged up on Friday, as investors weighed a tight prompt market against 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
*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
The discount on Western Canada Select to the North American benchmark West Texas Intermediate futures narrowed on Thursday to its tightest discount this month. WCS for August delivery in Hardisty, Alberta, settled at $10 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared with $10.15 a barrel on Wednesday. * Thursday’s WCS … Read more
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
(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
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 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
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
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
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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
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
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
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