By Erwin Seba US crude stocks rose more than expected last week Private reports suggest US labor market weakened in October Gunvor withdraws proposal to buy Lukoil’s overseas assets HOUSTON, Nov 7 (Reuters) – Crude prices fell off session highs as demand for jet fuel turned soft ahead of the holiday travel season because the … Read more
By Scott Disavino Rig count still 6% below last year, despite recent increase Gas rigs reach highest level since August 2023 EIA projects rise in crude and gas output in 2025 NEW YORK, Nov 7 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for the third time in four weeks, … Read more
The Trump administration will hold an auction for drilling oil and gas off the U.S. Gulf next month and has proposed another in a waterway in southern Alaska, it said on Friday. The lease sale in the U.S. Gulf of Mexico, which President Donald Trump refers to as the Gulf of America, will make about … Read more
(Reuters) – U.S. energy firms produced a record amount of natural gas during the third quarter as producers scrambled to keep up with soaring domestic and export demand for the fuel. Power-hungry data centers and a boom in liquefied natural gas (LNG) exports are driving up U.S. gas use, pushing producers to pull more gas … Read more
(Reuters) – Hydrocarbons will continue to play a critical role for a long time to come, the CEO of U.S. energy company Exxon Mobil said on Friday, adding that the question would be whether they continue to be burned as fuel. “Crude oil and hydrocarbons are going to play a critical role in everybody’s life … Read more
(Reuters) – Global investments in renewable energy aren’t bearing fruit and the world should focus on securing reliable supplies of fossil fuels, U.S. energy and interior secretaries said this week as they worked on convincing Europe to buy more U.S. oil and gas. The U.S. has become Europe’s top oil and gas supplier on the … Read more
By Alastair Marsh Offshore oil and gas platforms. Photographer: Tim Rue/Bloomberg HSBC Holdings Plc is expecting oil and gas deals to make up a smaller part of its energy portfolio, as renewables look to be the preferred way to feed data centers powering artificial intelligence. Finance for fossil fuels will likely rise in absolute terms, … Read more
(Reuters) – The volume of oil stored onboard ships in Asian waters doubled in recent weeks after tightening western sanctions hit imports from China and India and as a shortage of import quota curbed demand from independent Chinese refiners, analysts said. The European Union, United Kingdom and the United States have imposed a raft of … Read more
(Reuters) – Japan, the world’s No.2 LNG importer, plans to buy liquefied natural gas for emergency reserves on a monthly basis from January, instead of buying only during peak demand periods, to guard against supply shocks, two industry ministry sources said. The reinforcement of the country’s Strategic Buffer LNG (SBL) program, run by the Ministry … Read more
By Olivia Rudgard and Laura Millan Leaders at COP30 family photo in Belem, Brazil, on Nov. 7. Photographer: Fernando Llano/AP Photos For three decades, the United Nations has been holding an annual summit on the climate known as COP, which stands for Conference of the Parties. Delegates travel to a chosen city from around the … Read more
Nov 7 (Reuters) – Enbridge (ENB.TO) missed third-quarter profit estimates on Friday, pressured by higher financing costs from capital investments including U.S. gas utility acquisitions, sending its shares down nearly 2% in premarket trading. The Calgary-based pipeline operator had bought three Dominion Energy (D.N) utilities last year — East Ohio Gas, Questar Gas and Public … Read more
Nov 7 (Reuters) – Abu Dhabi state oil firm ADNOC’s trading unit plans to increase the volume it handles by two-thirds over the next few years as part of its international expansion, Bloomberg News reported on Friday, citing its CEO. ADNOC has been stepping up its global expansion in recent years to find new revenue … Read more
By Vladimir Soldatkin and Anna Hirtenstein Gunvor withdrew its bid for Lukoil’s foreign assets on Thursday Moldova requests exemption from US sanctions Finland’s Teboil, owned by Lukoil, is running out of fuel MOSCOW/LONDON, Nov 7 (Reuters) – Lukoil’s international operations faced mounting disruptions on Friday as a U.S. deadline for companies to cut off business … Read more
Enbridge missed third-quarter profit estimates on Friday, pressured by higher financing costs from capital investments including U.S. gas utility acquisitions, sending its shares down nearly 2% in premarket trading. The Calgary-based pipeline operator had bought three Dominion Energy utilities last year — East Ohio Gas, Questar Gas and Public Service Co of North Carolina — in … Read more
By Stine Jacobsen and Louise Rasmussen Offshore wind capacity seen up 20-25% annually until 2030 Terms of European offshore wind auctions improving, firms say Faster permitting, better auction designs, grid expansion needed Vestas Q3 operating profit 416 million euros, beats forecast Orsted swings to $265 million net loss in Q3 COPENHAGEN, Nov 5 (Reuters) – … Read more
EOG Resources beat analysts’ estimates for third-quarter profit on Thursday, as a rise in output helped the U.S. oil and gas producer offset a drop in crude prices. The company received a production boost from its $5.6 billion deal for Encino Acquisition Partners, which helped expand EOG’s presence in the Utica and Marcellus region, one of … Read more
HOUSTON, Nov. 6, 2025 /PRNewswire/ — EOG Resources, Inc. (EOG) today reported third quarter 2025 results. 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
By David Wethe ConocoPhillips raised its total spending plans for the Willow oil and natural gas project in Alaska to as much as $9 billion, citing inflation and other rising costs. The Houston oil giant, which initially estimated that its spending on the North Slope project was in the range of $7 billion to $7.5 … Read more
By David Wethe and Kevin Crowley A pumpjack and drill rig over an oil well in the Permian Basin near Midland, Texas. Photographer: Daniel Acker/Bloomberg US shale companies are forging ahead with their production plans, adapting to $60 oil prices while grinding out small increases and setting up the industry to add to next year’s … Read more
By Arunima Kumar Nov 6 (Reuters) – ConocoPhillips (COP.N) raised its quarterly dividend and full-year production forecast on Thursday, after posting third-quarter earnings above estimates thanks to higher output and lower costs that offset weaker oil prices. The company’s push to streamline operations and cut costs, including more than $1 billion in expected savings from … Read more
Summary U.S. crude stocks rose more than expected last week Private reports suggest U.S. labour market weakened in October Gunvor withdraws proposal to buy Lukoil’s overseas assets (Reuters) – Oil prices rose on Friday but remained on track for a second consecutive weekly loss after three days of declines on worries about excess supply and … Read more
U.S. liquefied natural gas developers are on track this year to ink the second-highest annual number of binding sales contracts, despite industry concerns about increasing capacity and rising costs. In the first 10 months of 2025, U.S. LNG producers signed sales and purchase agreements (SPAs) for 29.5 million metric tonnes of LNG per year, more … Read more
Reported third-quarter 2025 earnings per share of $1.38 and adjusted earnings per share of $1.61. Generated cash provided by operating activities of $5.9 billion and cash from operations (CFO) of $5.4 billion. Raised ordinary dividend by 8% to $0.84 per share. Raised full-year 2025 production guidance to 2.375 MMBOED and further reduced operating cost guidance … Read more
(Reuters) – Oil prices regained a little ground on Thursday, buoyed by easing concerns over a potential supply glut as sanctions on Russian companies begin to bite. Having closed the previous session at two-week lows, Brent crude futures gained 35 cents, or 0.6%, to $63.87 a barrel by 1120 GMT while U.S. West Texas Intermediate … Read more
(Reuters) – Oil and gas producers will need to step up drilling to sustain or increase output due to rapid declines in production from existing wells, the U.S. Energy Information Administration said on Tuesday. WHY IT MATTERS The U.S. is the world’s largest producer, with oil production touching a record 13.8 million barrels per day … Read more
Deal values in the global energy sector have fallen about 6% this year By David Carnevali and Fareed Sahloul Low energy On this Tuesday a year ago, as US voters were handing Donald Trump the keys to the White House for a second time, M&A bankers were looking forward to the boom times; few more … Read more
U.S. pipeline operator Energy Transfer will not give its Lake Charles liquefied natural gas export facility in Louisiana a financial go ahead until 80% of the project has been sold to equity partners, company executives said on Wednesday on a post-earnings call. Energy Transfer has been developing the 16.5 million metric tonnes per annum LNG … Read more
(Reuters) – U.S. field production of crude oil rose to a record high for a second week in a row last week, the U.S. Energy Information Administration (EIA) said in its weekly Petroleum Status Report on Wednesday. EIA said output reached 13.651 million barrels per day (bpd) during the week ended October 31, topping the … 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 5.2 million barrels to 421.2 million barrels in the week ended October 31, the EIA said, compared with analysts’ expectations in a Reuters poll for a 603,000-barrel rise. Crude stocks … Read more
By Anthony Di Paola and Joumanna Bercetche The United Arab Emirates, long one of OPEC’s key oil producers, is pivoting to US-tested fracking techniques to tap its “very promising” unconventional gas resources, with the intention of ramping up output amid forecasts for surging demand. Abu Dhabi National Oil Co. is tapping new sources of natural … Read more
By Nojoud Al Mallees and Thomas Seal The Canadian government signaled it plans to eventually lift the controversial cap on emissions from the oil and gas sector, doubling down instead on its industrial carbon pricing system to rein in pollution. In its first federal budget on Tuesday, Prime Minister Mark Carney’s government unveiled its climate … Read more
Ovintiv said on Tuesday it would buy the rest of NuVista Energy in a cash-and-stock deal valued at $2.7 billion, including debt, strengthening the shale producer’s presence in Canada’s Montney basin. Last year, the North American company had acquired oil assets from Canadian firm Paramount Resources in the Montney shale for $2.38 billion in cash. “This acquisition, combined with the … Read more
*CEO says Paris Agreement climate goals out of reach*Oil demand expected at 98 million barrels per day in 2050 *Demand forecast has risen versus last year’s report *CEO cites concern over energy security, prices By America Hernandez PARIS, Nov 4 – French oil major TotalEnergies sees global oil demand rising through 2040 before gradually dropping off, as … Read more
Activist investor Kimmeridge on Tuesday called on Coterra Energy to overhaul its leadership and strategy, saying the 2021 merger of Cabot Oil & Gas and Cimarex Energy has failed to deliver value and left it trading at a discount to its peers. In an open letter, the private investment firm urged the board to appoint … Read more
(Reuters) – The proposed 135-mile (217-km) Constitution natural gas pipeline could provide price relief and other economic benefits to the U.S. Northeast, generating up to $11.6 billion in energy savings and supporting nearly 2,000 jobs annually over 15 years, S&P Global said in an analysis released on Tuesday. The analysis says the pipeline, which is … Read more
By Clyde Russell LAUNCESTON, Australia, Nov 4 (Reuters) – Asia’s imports of liquefied natural gas (LNG) fell in October from the same month a year earlier, as top buyer China extended a run of weakness that has stretched for a year. In contrast to the soft demand in the world’s top-importing region, demand for the … Read more
Summary Weaker data in the US, China fuel demand concerns Russia suspends fuel exports at Black Sea refinery US dollar index holds at three-month high (Reuters) – Oil prices were steady on Wednesday as investors digested weaker economic data from top oil importers while U.S. inventory data provided some support. Brent crude futures were down … Read more
Bill Gates’s humanist challenge to the anti-fossil-fuel climate establishment was only possible because the “moral monopoly” against fossil fuels has been breaking. Now it will break even faster. Early last week, Bill Gates released a viral memo about rising GHG levels, “Three tough truths about climate,” purporting to be a “new way to look at the problem,” … Read more
(Reuters) – Oil major BP won its $1 billion-plus arbitration case against liquefied natural gas producer Venture Global with an argument of unfair behaviour by the U.S. company, said five sources close to the matter, shedding light on strategy that could be used by claimants in parallel cases. BP won its case in October, two … Read more
Full Year Production Guidance Increased, Capital Investment Unchanged Highlights: Generated cash from operating activities of $812 million, Non-GAAP Cash Flow of $895 million and Non-GAAP Free Cash Flow of $351 million after capital expenditures of $544 million Third quarter production was at or above the high end of the guidance range on every product with average total production volumes of 630 … Read more
Transaction Adds Scale and High-Quality Oil Inventory to Ovintiv’s Premier Montney Position Highlights: Agreement reached to acquire NuVista Energy Ltd. at an average price of approximately C$17.80 per share, or total consideration of approximately $2.7 billion (C$3.8 billion) Acquisition is expected to add approximately 140,000 net acres and approximately 100 thousand barrels of oil equivalent per day (“MBOE/d”) in the core of … Read more
By Gavin Maguire LITTLETON, Colorado, Nov 4 (Reuters) – Breakthroughs in drilling methods and heat extraction techniques are widening the appeal of geothermal power systems across the world, and geothermal generation capacity is on track to double once projects currently in development are completed. Currently, only around 2% of global energy generation comes from geothermal … Read more
By Alex Lawler LONDON, Nov 4 (Reuters) – OPEC’s oil output rose further in October after an OPEC+ agreement to raise production, a Reuters survey found on Tuesday, though the scale of the increase slowed sharply from September and the summer months. The Organization of the Petroleum Exporting Countries pumped 28.43 million barrels per day … Read more
NEW YORK, Nov. 4, 2025 /PRNewswire/ — Kimmeridge, a private investment firm focused on the energy sector and a significant shareholder of Coterra Energy (CTRA), today released an open letter to Coterra’s Board of Directors calling for decisive action to address the Company’s failures of governance and lack of strategic focus following the failed merger … Read more
(Reuters) – Shipping rates for liquefied natural gas have hit multi-month highs on tighter vessel availability, delayed cargo deliveries to Egypt and rising demand ahead of winter, shipping sources said. The price gains amplify competition for available LNG carriers, reversing the trend of lacklustre shipping rates seen for much of this year. Prices tumbled to five-year lows … Read more
The U.S. Department of Energy’s deputy secretary, James Danly, said on Monday that he does not think there will be an oil glut in 2026. “We have a demand signal for energy that is going up rapidly”, Danly said at the ADIPEC energy conference in Abu Dhabi.(Reporting by Yousef Saba and Jana Choukeir, Writing by … Read more
Top Western oil companies are enjoying a windfall from the expanding attacks on Russia’s oil industry – both literal and economic – that have boosted global refining profit margins and mitigated concerns over a looming supply glut.Waves of Ukrainian drone strikes on Russia’s vast network of refineries and export terminals since July have hammered the … Read more
A momentous week in the technology sector made it clear there is no sign the boom in building artificial intelligence infrastructure is slowing — despite the bubble talk. Nvidia, whose processors are the AI revolution’s backbone, became the first company to surpass $5 trillion in market value. Microsoft and OpenAI inked a deal enhancing the … Read more
(Reuters) – The U.S. Department of Energy on Friday announced that it would make $100 million available to refurbish and modernize existing coal-fired power plants. The move is part of the Trump administration’s effort to reverse the decline of coal use in the United States. The Energy Department said last month it would provide $625 million to … Read more
(Reuters) – Oil prices fell over 1% on Tuesday as OPEC+’s decision to pause output hikes in the first quarter next year along with weak manufacturing data and a stronger dollar weighed on the market. Brent crude futures fell 90 cents, or 1.4%, to $63.99 a barrel by 1056 GMT. U.S. West Texas Intermediate crude … Read more
By Kevin Crowley Chevron Corp. Chief Financial Officer Eimear Bonner said there’s a risk the oil-price slump persists into next year amid robust output from OPEC+ members and non-aligned nations. “There’s been some OPEC+ unwinds and growth also in non-OPEC supplies,” Bonner said during an interview. “We potentially could see some pressure continue this year … Read more
(Reuters) – The U.S. has become the first country to export 10 million metric tonnes (mmt) of liquefied natural gas in a single month, according to preliminary data from financial firm LSEG. The U.S. exported a record 10.1 mmt of the liquid fuel in October, up from a revised figure of 9.1 mmt in September, … Read more
The Panama Canal expects an increase in transits of liquefied petroleum gas (LPG) vessels and carriers of some agricultural commodities to help it compensate for a reduction in world trade next year, the waterway’s chief told Reuters on Monday. The world’s second-busiest interoceanic waterway registered a 14% revenue increase to $5.7 billion in the fiscal … Read more
By Anthony Di Paola Darren Woods Photographer: David Paul Morris/Bloomberg Abu Dhabi’s Upper Zakum offshore oil field is likely to reach its target for expanding production capacity ahead of schedule, said Exxon Mobil Corp. Chief Executive Officer Darren Woods. Upper Zakum, which Exxon has developed in partnership with Abu Dhabi’s government-owned producer and Japan’s Inpex … Read more
Musk and other executives blamed Tesla’s early-year sales shortcomings on transitioning the Model Y to a new design By Stefan Nicola Tesla Inc. posted some of its steepest sales declines this year in European markets, where the Elon Musk-led automaker is mired in a protracted slump. The most pronounced drop reported thus far was in … Read more
By Anthony Di Paola, Salma El Wardany, and Omar El Chmouri Sultan Al Jaber Photographer: Hollie Adams/Bloomberg The global energy industry needs annual investment of $4 trillion as the boom in data centers and artificial intelligence increases demand, according to Sultan Al Jaber, head of the biggest crude producer in the United Arab Emirates. Long-term … Read more
(Reuters) – Venezuela’s oil exports declined 26% to some 808,000 barrels per day in October as the country’s stocks dwindled and it imported smaller volumes of diluents to produce exportable crude grades, according to shipping data and documents from state firm PDVSA. The OPEC country’s exports had reached a five-year high in September after being … Read more
MIDLAND, Texas, Nov. 03, 2025 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”). 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 … Read more
MIDLAND, Texas, Nov. 03, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc. (NASDAQ:VNOM) (“Viper,” “we,” “our” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), today announced financial and operating results for the third quarter ended September 30, 2025. THIRD QUARTER HIGHLIGHTS Q3 2025 average production of 56,087 bo/d (108,859 boe/d) Q3 2025 consolidated net … Read more
CALGARY, ALBERTA, CANADA, Arolytics Inc., a North American leader in emissions intelligence software, announced today AroIQ, an artificial intelligence (AI) solution leveraging oil and gas operational data, including SCADA, for digital emissions monitoring. With AroIQ, oil and gas companies can efficiently achieve targeted, measurable methane reductions with no new or additional hardware, sensors, or field-visits. … Read more
Alana K. Knowles to retire after 38 years with the company Amit R. Ghai named Controller of Chevron HOUSTON–(BUSINESS WIRE)–Chevron Corporation (NYSE: CVX) announced today the appointment of Amit R. Ghai as Controller of Chevron, effective March 1, 2026. Ghai will succeed Alana K. Knowles, in anticipation of her expected retirement from Chevron in April 2026, … Read more
OPEC Secretary-General Haitham Al Ghais said on Monday that the group was still seeing positive signs for oil demand and did not expect any surprises in the market. “We are making sure we maintain the supply demand balance”, Ghais added at a panel at ADIPEC energy conference in Abu Dhabi, a day after OPEC+ agreed … Read more
Morgan Stanley on Monday raised its Brent crude forecast for the first half of 2026 to $60 a barrel from $57.5, citing the decision by OPEC+ to pause quota hikes in the first quarter of next year and recent U.S. and EU sanctions on Russian oil assets. The bank expects a “substantial surplus” in the … Read more
Oil supply growth outside OPEC+ could decline by April, while demand remains robust, BP’s Chief Executive Murray Auchincloss said on Monday. “There is a supply increase that’s come outside of OPEC+,” Auchincloss said. “We think that finishes in about February, March, April, and then it’s likely that we see flat to declining production after that … Read more
Summary ExxonMobil CEO warns EU law could force exit from Europe EU law demands climate plan aligned with Paris Agreement, Woods says Qatar threatens again to halt LNG supply to Europe over sustainability law (Reuters) – Executives at two of Europe’s top gas suppliers, ExxonMobil and QatarEnergy, on Monday warned they could stop doing business … Read more
Summary OPEC+ agrees to small output increase in December Plans to pause production increases in the new year Russia’s Tuapse port hit by Ukraine drone attack Supply outlook and Asian factory data weigh on prices (Reuters) – Oil prices were little changed despite news that OPEC+ plans to end its supply increases, with the market … Read more
Nov 3 – SM Energy and Civitas Resources said on Monday they will merge in a deal valued at about $12.8 billion, including debt, creating one of the largest independent U.S. oil producers that will hold a dominant position in the Permian Basin. The sale signals a recovery in dealmaking in the shale industry as … Read more
(Reuters) – BP has agreed to sell minority stakes in some of its U.S. onshore pipeline assets in the Permian and Eagle Ford basins to investment firm Sixth Street for $1.5 billion, it said on Monday. The sale is part of a $20 billion divestment programme aimed at bringing debt levels down that the group is … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by four to 546 in … Read more
Summary OPEC+ pauses oil output increases for Jan-March 2026 Group agrees output hike of 137,000 bpd for Dec 2025 Oil glut predictions dominate outlook for 2026 New sanctions make it difficult for Russia to raise output (Reuters) – OPEC+ on Sunday agreed a small oil output increase for December and a pause in increases in … Read more
By Kevin Crowley North America’s two dominant oil companies are carving divergent paths as the global crude market staggers toward what’s widely expected to be a hefty supply glut. Exxon Mobil Corp. is pressing ahead with a raft of expansion projects, even as OPEC and its allies increase production and oil futures hover near a … Read more
An LNG Plant in Sabetta, Russia. Photographer: Sefa Karacan/Anadolu Agency/Getty Images Russia’s liquefied natural gas will find other markets after the European Union bans imports from 2027, said Leonid Mikhelson, the billionaire chief executive officer at Novatek PJSC. “Russia currently accounts for over 10% of global LNG production,” Mikhelson said at the Verona Eurasian Economic … Read more
By Olesya Astakhova, Ahmad Ghaddar and Alex Lawler Group likely to agree to 137,000 bpd hike, sources say New sanctions make it difficult for Russia to raise output OPEC+ has slowed pace of increases amid glut predictions Eight OPEC+ countries to meet online on Sunday LONDON/MOSCOW, Oct 31 (Reuters) – OPEC+ will likely agree on … Read more
By Jennifer A Dlouhy Pavilions at the Parque da Cidade, the main venue for the COP30 summit, in Belem, Brazil. Photographer: Alessandro Falco/Bloomberg High-level US representatives are staying away from the UN climate negotiations in Brazil, even as President Donald Trump seeks to influence energy policy globally. The plan to forgo senior representation at the … Read more
By Erwin Seba Trump issues denial on social media that U.S. plans to attack Venezuela News media reports say U.S. plans air strikes on Venezuela Brent, WTI set to fall about 2.6% and 2% in October OPEC+ lean towards modest output boost ahead of Sunday meeting, sources say HOUSTON, Oct 31 (Reuters) – Oil prices … Read more
(Reuters) – U.S. natural gas futures jumped about 4% on Friday to a six-month high, on near-record flows to liquefied natural gas (LNG) export plants, as output dropped and forecasters expected more demand over the next two weeks than they did previously. Front-month gas futures for December delivery on the New York Mercantile Exchange rose … Read more
(Reuters) – LLOG Exploration Offshore is exploring a potential sale, which may value one of the largest privately held oil and gas producers in the U.S. Gulf at more than $3 billion including debt, people familiar with the matter said. The Covington, Louisiana-based company is working with investment bankers at Guggenheim Securities on the effort, … Read more
(Reuters) – President Donald Trump on Friday denied he was considering strikes inside Venezuela, appearing to contradict his own comments from last week and amid intensifying expectations that Washington may soon expand drug-trafficking-related operations. The United States has built up a large military presence in the Caribbean in recent months, with fighter jets, warships and … Read more
(Reuters) -U.S. oil and gas production rose to record highs in August, data from the Energy Information Administration showed on Friday, shrugging off concerns that the market is heading towards a surplus. U.S. crude oil output rose 86,000 barrels per day to a record 13.8 million bpd, while gross natural gas output from Lower-48 states … Read more
(Reuters) – U.S. Energy Secretary Chris Wright said on Friday that there is lots of room for a “win-win” on energy trade between China and the United States. U.S. President Donald Trump and China President Xi Jinping secured a fragile trade truce in South Korea on Thursday, with agreements on China soybean purchases and rare … Read more
Summary Exxon raises dividend by 4% to $1.03 per share Company on track to complete $20 billion share buyback this year Exxon incurs $510 million in restructuring costs in Q3 (Reuters) – Exxon Mobil beat Wall Street estimates for third-quarter earnings on Friday, underpinned by higher oil and gas production in Guyana and the Permian Basin, … Read more
Summary Hess acquisition helps boost Chevron’s quarterly profit Cash flow grows 20% year-on-year on rise in output ‘High confidence’ free cash flow will keep growing, CFO says Upstream earnings decline 28% due to lower oil prices Downstream profit jumps 91% (Reuters) – Chevron beat analyst estimates on Friday as record oil and gas production, boosted by … Read more
Summary Deal offers US government potential 20% stake in Westinghouse Safety advocates warn of risks due to financial incentives Experts question workforce capacity for rapid reactor construction Oct 31 (Reuters) – A huge nuclear deal announced by the Trump administration earlier this week provides a multi-billion-dollar incentive for the U.S. government to issue permits and approvals for … Read more
Summary Brent, WTI set to fall about 3.5% in October OPEC+ lean towards modest output boost ahead of Sunday meeting, sources say Saudi prices for Asian buyers might fall in Dec. -sources China factory activity shrinks for seventh month, PMI shows (Reuters) – Oil prices were heading for a third consecutive monthly decline, slipping on … Read more
By Ari Natter and Annmarie Hordern Energy Secretary Chris Wright said the US is prepared to sell more oil and natural gas to China if Beijing cuts back on purchases from Russia. “There’s so much space for mutually beneficial deals between the US and China,” Wright said Thursday during a Bloomberg Television interview, noting that … Read more
By Shadia Nasralla and America Hernandez LONDON, Oct 30 (Reuters) – Shell (SHEL.L) and TotalEnergies (TTEF.PA), the world’s two largest listed LNG traders, said on Thursday that the exact timing of new LNG projects starting up around the world is in flux, which could create uncertainty about long-term supply. New LNG projects are seeing delays … Read more
Analyst says WCS price boost reflects global shortage By Will Gibson Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Worker at an oil sands SAGD well pad in northern Alberta. Photo courtesy Strathcona Resources Once priced at a steep discount to its lighter, sweeter counterparts, Canadian oil has … Read more
By Andrew Mills Deputy Bureau Chief, Gulf I’m writing Gulf Currents this week from an aircraft 20,000 feet above the Saudi desert, because, like most Reuters’ Gulf correspondents in recent weeks, I too am crisscrossing the Arabian Peninsula to break news on the region’s most important stories. This week’s main offering comes from Riyadh, where … Read more
The U.S. Army Corps of Engineers has granted approval to Canadian company Enbridge for its plan to reroute a section of its Line 5 oil pipeline around a Wisconsin tribal reservation. The Army Corps, a federal engineering service, issued a permit Wednesday for Enbridge to build a new 41-mile segment of pipeline around the Bad … Read more
U.S. President Donald Trump said on Thursday that China has agreed to begin the process of purchasing U.S. energy. “In fact, a very large scale transaction may take place concerning the purchase of Oil and Gas from the Great State of Alaska. Chris Wright, Doug Burgum, and our respective Energy teams will be meeting to … Read more
Summary Shell maintains $3.5 billion buyback pace, TotalEnergies scales back Shell’s gas and upstream divisions exceed expectations TotalEnergies’ downstream results rise 76% amid EU fuel import ban (Reuters) – Shell and TotalEnergies posted quarterly profit falls of 10% and 2%, respectively, on Thursday, dragged down by lower oil prices, though Shell beat expectations helped by better … Read more
Shell expects to start up its second liquefied natural gas processing unit at its LNG Canada facility later this quarter, Chief Financial Officer Sinead Gorman said on Thursday. LNG Canada is the first major LNG export facility in Canada, and the first on the west coast of North America that provides direct access to Asia, … Read more
A judge in North Dakota on Wednesday slashed by almost half jury-awarded damages of about $667 million against environmental advocacy group Greenpeace over its role in protests against the construction of the Dakota Access Pipeline. State District Judge James Gion said the amount Greenpeace owes pipeline company Energy Transfer should be limited to $345 million, … Read more
Summary Trump to reduce China tariffs after meeting with Xi OPEC+ likely to add another 137,000 bpd supply in December US crude and fuel inventories register large declines LONDON, Oct 30 (Reuters) – Oil prices eased on Thursday as investors assessed a potential trade truce between the United States and China, as President Donald Trump lowered tariffs on China … Read more
(Reuters) – The United States wants its allies to engage in a policy of energy abundance to keep prices down, the U.S. Department of Energy’s deputy secretary, James Danly, said at a panel at the annual Future Investment Initiative (FII) summit in Riyadh. Reporting by Nayera Abdallah in Dubai Editing by David Goodman
(Reuters) – Cheniere Energy reported a rise in third-quarter profit on Thursday, on the back of strong demand for liquefied natural gas, sending its shares up 1.8% in premarket trading. Already the world’s top LNG exporter, the United States is set to lift nameplate capacity to 115 million tonnes per annum (MTPA) this year, data … Read more
(Reuters) – U.S. weekly oil field production rose by 15,000 barrels per day (bpd) to a record 13.6 million bpd during the week ended October 24, the U.S. Energy Information Administration (EIA) said in its weekly Petroleum Status Report on Wednesday. Gulf Coast weekly crude oil imports fell 477,000 bpd last week to 597,000 bpd, … Read more
By Keira Wright and Paul-Alain Hunt Australia plans to overhaul national environmental laws to better protect nature, while speeding up approvals for major projects in sectors including natural gas, renewable energy and mining. On Thursday, the center-left Labor government will introduce long-awaited legislation to Parliament to amend the widely criticized Environment Protection and Biodiversity Conservation … Read more
By John O’Donnell and Christoph Steitz Russia’s Rosneft controls key flow of oil to Germany Rosneft swept up in Trump sanctions on Russia Berlin now mulls sidelining Rosneft BERLIN/FRANKFURT, Oct 29 (Reuters) – U.S. sanctions on Russian oil producer Rosneft (ROSN.MM) have rekindled discussions in Germany about nationalising the company’s business there, including a refinery … Read more
(Reuters) – HOUSTON, Oct 29 – U.S. crude stocks and gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories dropped by 6.86 million barrels to 416 million barrels in the week ended October 24, the EIA said, compared with analysts’ expectations in a Reuters poll for a 211,000-barrel … Read more
(Reuters) – Kuwait Oil Company (KOC) plans to spend 1.2 billion dinars ($3.92 billion) on its exploration drilling program through 2030, its senior executive told Reuters in an interview. The spending is part of a 9.8-billion-dinar budget – the company’s biggest ever – allocated for drilling and maintenance of up to 6,193 wells by the … Read more
The EV maker has a ‘range of different alternatives out there,’ including having more than one person run the company By Kara Carlson and Miguel Ambriz Tesla Inc. is prepared to name a new chief executive officer from inside the company if shareholders reject Elon Musk’s proposed US$1 trillion pay package and he steps down, … Read more
The outlook for Europe’s natural gas market this winter is tighter than many had expected as the continent’s storage levels are 12 percentage points lower than a year ago, Equinor’s finance chief told Reuters on Wednesday. The Norwegian company in 2022 overtook Russia’s Gazprom as Europe’s biggest supplier of natural gas when Moscow’s full-scale invasion … Read more
Ron Bousso Summary OPEC+ meets on November 2 to discuss oil production targets Trump will likely repeat call on OPEC to increase output after hitting Russia with sanctions Russia likely to support stopping or reversing increases (Reuters) – Saudi Arabia is caught between Donald Trump and a hard place, as the U.S. president’s latest oil … Read more
(Reuters) – Newly imposed U.S. and EU sanctions targeting Russia and its oil giants Rosneft and Lukoil have yet to disrupt physical crude shipments from the country’s western ports, according to LSEG data and market sources. Despite weather-related constraints and sanction pressure, October exports from western ports of Primorsk, Ust-Luga and Novorossiisk are seen at about … Read more
Summary PM Takaichi said ending LNG imports would be difficult for Japan Russian LNG accounts for nearly 9% of imports (Reuters) – Japan’s new Prime Minister Sanae Takaichi told U.S. President Donald Trump during their meeting in Tokyo that banning Russian liquefied natural gas imports would be difficult, two Japanese government officials told Reuters on Wednesday. … Read more
By Josh Saul and Will Wade NextEra Energy Inc. plans to restart a nuclear power plant in Iowa, primarily to supply Google data centers. The Duane Arnold Energy Center is expected to start delivering power by 2029 following agreements with Google, according to a statement Monday. The 615-megawatt plant shut down in 2020, well before … Read more
By Jason Chiu Cybersecure AXIS C3546-LVE In the energy sector, Supervisory Control and Data Acquisition (SCADA) is the nerve center. It picks up the first hints of equipment stress, follows pressure and flow across vast pipeline networks, and coordinates the signals that keep plants and grids stable. As operational technology (OT) and information technology (IT) … Read more
U.S. energy company Expand Energy, the nation’s biggest natural gas producer, expects to spend less to produce more gas in 2025 and 2026, the company’s CEO Nick Dell’Osso told analysts on an earnings call on Wednesday. “We are clearly spending less for more production, which is the ultimate definition of efficiency,” Dell’Osso said. In its … Read more
Summary China confirms Xi, Trump meeting US crude stocks fell last week, market sources citing API OPEC+ considering modest output increase in December (Reuters) – Oil prices steadied on Wednesday as investors weighed optimism over a meeting between the leaders of top consumers the U.S. and China against an expected increase in production quotas from … Read more
Summary Analysts plan to keep eye on TotalEnergies debt level Exxon, Chevron results could be a preview for operational plan updates Investors watch for commentary on BP’s sale of Castrol HOUSTON/LONDON, Oct 29 (Reuters) – Big Oil may see marginally higher oil prices and stronger refining results boost third quarter results after declining earnings over … Read more
China is emerging as a fierce competitor to the US in the race to build small modular reactors and fusion that can help power data centers. By Coco Liu In the race to develop the next generation of nuclear reactors, China is increasingly challenging the US and other countries for dominance, according to tech billionaire … Read more
U.S. power consumption from data centres is set to double by 2035 By Rachel Morison The U.S. government agreed a US$80 billion deal with Westinghouse Electric Co. to build nuclear reactors, the latest push to meet rising demand for electricity from artificial intelligence. The strategic partnership — which also involves Brookfield Asset Management and Canadian … Read more
(Reuters) – Canada will focus on securing supplies of critical minerals when it hosts its Group of Seven partners this week at a meeting of energy and environment ministers in Toronto, Natural Resources Minister Tim Hodgson said in an interview on Tuesday. G7 countries, except Japan, are heavily or exclusively reliant on China for a … Read more
(Reuters) – Russia’s second-largest oil producer, Lukoil, said on Monday it would sell its international assets following sanctions over Ukraine announced last week by the United States. The planned sale of the assets is the most consequential action so far by a Russian company in the wake of Western sanctions over Russia’s war in Ukraine, … Read more
(Reuters) – Oilfield services giants SLB, Halliburton and Baker Hughes are turning to data centers and related artificial intelligence infrastructure work to drive their next phase of growth as they navigate slowing drilling demand and idle rigs across North America. U.S. oil producers have cut exploration budgets as prices hover in the low $60s per … Read more
(Reuters) – A record wave of new liquefied natural gas production capacity coming online until 2030 is set to transform gas market dynamics by strengthening global supply security and easing market pressure, the International Energy Agency said on Monday. The IEA said in its “Gas 2025” medium-term outlook report that 300 billion cubic metres per … Read more
Summary Indian refiners refrain from new Russia oil purchases Indian Oil says will continue to buy compliant Russian oil Indian Oil, MRPL issue tenders for purchases BPCL plans tender for December-loading cargoes HYDERABAD, India, Oct 28 (Reuters) – Many Indian refiners have paused new orders for Russian oil since U.S. sanctions last week on Moscow’s … Read more
Summary NGOs, young plaintiffs challenged Norway’s oil drilling permits European Court of Human Rights unanimously backs government Norway is western Europe’s biggest oil, gas producer Court says environmental impact must still be assessed OSLO, Oct 28 (Reuters) – The European Court of Human Rights on Tuesday ruled in favour of Norway’s government in a climate … Read more
Summary Investors question effect of U.S. sanctions on Russia’s oil firms OPEC+ considers modest output increase in December Indian refiners halt new Russian oil orders amid sanctions (Reuters) – Oil prices fell pver 1% on Tuesday, marking their third day of declines as investors assessed the effect of U.S. sanctions on Russia’s two biggest oil companies along … Read more
By Rong Wei Neo Oil prices are expected to “moderate” because of ample supply, according to the International Energy Agency. “I don’t expect a major shake-up in the oil markets thanks to growing production coming from the Americas,” OPEC+’s change in policy to increase output and slowing demand growth, IEA Executive Director Fatih Birol said … Read more
As COP30 nears, the US’s pressure to keep fossil fuels relevant may empower petrostates, potentially giving them more leverage at the UN talks. By Jennifer A Dlouhy and Akshat Rathi Photo illustration: Daniel Zender; photo: White House The world was on the brink of a climate milestone: adopting a global carbon tax for the shipping … Read more
Russia’s second-largest oil producer, Lukoil, said on Monday it would sell its international assets following sanctions over Ukraine announced last week by the United States. The planned sale of the assets is the most consequential action so far by a Russian company in the wake of Western sanctions over Russia’s war in Ukraine, which started … Read more
(Reuters) – U.S. natural gas dealmaking has surged in 2025 and is set to accelerate, analysts say, driven by record power demand from AI data centers, rising LNG exports and renewed Asian investment. The United States is poised to see a record surge in power demand this year, led by data centers’ outsized energy needs, … Read more
A common view in the crude oil market is that Western sanctions against Russia’s exports are fairly pointless as the market quickly devises ways to keep cargoes flowing. This means that any new measures imposed only result in a fleeting boost to prices, which fades in the face of the reality of virtually uninterrupted flows. … Read more
A summary of Fossil Future Chapter 4, part 1 of 3 By Alex Epstein This is the fourth of the “Alex Notes” on my book Fossil Future—like Cliff’s Notes, but actually written by the author. (See #1, #2, and #3). Myth: Fossil fuels have made the planet less livable. Truth: Fossil fuels have made the planet incomparably more livable, … Read more
WASHINGTON, Oct 24 (Reuters) – U.S. Energy Secretary Chris Wright this week directed federal energy regulators to consider a rule aimed at speeding up the connection of power-hungry data centers to electric grids. Wright sent the Federal Energy Regulatory Commission a rule on Thursday that allows customers to file joint, co-located load and generation interconnection … Read more
Summary Oil prices fall on scepticism over US-China trade deal boosting oil demand Iraq’s oil exports unaffected by Zubair oilfield fire OPEC reverses production cuts to regain market share (Reuters) – Oil prices recovered from early losses on Monday as optimism over a trade deal framework between the U.S. and China countered concerns about weak demand for … Read more
The U.S. will double its natural gas exports over the next five years and could double them again in the following five or ten years “if demand is there, and I suspect it will be,” U.S. Energy Secretary Chris Wright said by video to a conference in Singapore on Monday. (Reporting by Emily Chow; Writing … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since September, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by two to … Read more
By Stephen Stapczynski and Yusuke Maekawa A Tokyo Gas Co. storage tank in Tokyo, Japan. Photographer: Toru Hanai/Bloomberg Tokyo Gas Co. has signed a preliminary agreement to explore buying liquefied natural gas from a long-stalled project in Alaska that has been championed by Donald Trump, days ahead of a visit by the US president to … Read more
U.S. President Donald Trump’s administration has prepared additional sanctions it could use to target key areas of Russia’s economy if President Vladimir Putin continues to delay ending Moscow’s war in Ukraine, according to a U.S. official and another person familiar with the matter. U.S. officials have also told European counterparts that they support the EU … Read more
Baker Hughes CEO Lorenzo Simonelli said on Friday the global macro environment remains resilient through 2025, despite geopolitical and policy headwinds, supported by the rapid deployment of generative artificial intelligence driving power demand and industrial activity. Simonelli said the company remains confident of reaching $1.5 billion in data center orders ahead of its original three-year … Read more
By Erwin Seba Benchmarks pare early-day gains spurred by Thursday’s sanctions Brent, US crude both gain over 7% in the week Chinese state oil majors to suspend Russian oil purchases Indian refiners set to cut their Russian crude imports HOUSTON, Oct 24 (Reuters) – Oil prices fell on Friday as skepticism crept into the market … Read more
(Reuters) – Baker Hughes CEO Lorenzo Simonelli said on Friday the global macro environment remains resilient through 2025, despite geopolitical and policy headwinds, supported by the rapid deployment of generative artificial intelligence driving power demand and industrial activity. Simonelli said the company remains confident of reaching $1.5 billion in data center orders ahead of its … Read more
(Reuters) – Mexico’s state-owned oil company Pemex has paid down off half its debts to suppliers since President Claudia Sheinbaum took office in October 2024, the company’s chief executive said on Friday. CEO Victor Rodriguez said in a presentation to Congress that the company had paid 300 billion pesos to suppliers as of September, and … Read more
By Georgina McCartney (Reuters) – HOUSTON, Oct 24 – North Dakota oil production is expected to have climbed slightly in September but is on track to fall in the longer term as wells undergo a natural decline, the state regulator said on Friday. North Dakota is home to the Bakken oilfield, a massive shale field … Read more
(Reuters) – Gas-producing countries must make clear that they oppose trade barriers, Qatar’s Energy Minister Saad al-Kaabi said on Thursday, reiterating his opposition to a European Union sustainability law. Qatar, one of the world’s top liquefied natural gas (LNG) exporters, has argued that the EU’s corporate sustainability due diligence directive (CSDDD), adopted in 2024, poses … Read more
(Reuters) – Oil production in North Dakota fell 10,000 barrels-per-day (bpd) to 1,153,000 bpd in August, monthly data from the state Industrial Commission showed. Bakken and Three Forks oil production stood at 1,124,000 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) -Spot premiums in crude markets jumped on Thursday on expectations that U.S. sanctions on top Russian producers will spur China and India’s demand for supplies from the Middle East, Africa and South America, trade sources and analysts said. Washington hit major suppliers Rosneft and Lukoil with sanctions over the Ukraine war, sparking concerns over … Read more
(Reuters) – Global financial titans descend on Riyadh next week for Saudi Arabia’s flagship investment conference, for the first time since the return to the White House of Donald Trump, whose taste for extravagant projects chimes with the kingdom’s big plans. The Future Investment Initiative (FII) conference is taking place against a backdrop of a … Read more
(Reuters) – HOUSTON, OCT 24 – There are currently 28 active rigs in North Dakota, up from 27 in September, according to the state’s Department of Mineral Resources on Friday. There are currently 13 frac crews operating in the state, up from 12 in September. North Dakota is the third largest oil-producing state in the … Read more
(Reuters) – The U.S. dollar was almost flat on Friday after dipping following fresh inflation data that showed that U.S. consumer prices increased less than expected in September, keeping the Federal Reserve on track to cut interest rates again next week. The Consumer Price Index rose 0.3% last month and 3.0% in the 12 months … Read more
(Reuters) – Reliance Industries Ltd, the top Indian buyer of Russian oil, will abide by Western sanctions against Moscow while maintaining its relationship with current oil suppliers, its spokesperson said in a statement. Reliance, which is controlled by billionaire Mukesh Ambani and operates the world’s biggest refining complex at Jamnagar in western Gujarat state, has … Read more
Canada’s Prime Minister Mark Carney embarks on his first official visit to Asia on Friday in an attempt to deepen trade and security ties at a time when the North American country is struggling to lessen its overwhelming dependence on the U.S. and redefine its foreign policy in pursuit of new markets. Canadian government … Read more
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 11.6% year-to-date, impacted by increased OPEC+ output and persistent demand uncertainty tied to the U.S. trade policy. Company Description … Read more
(Reuters) – OPEC is ready to raise production by rolling back its oil output cuts further if required to address market shortfalls after the United States imposed new sanctions on Russian oil majors, Kuwait’s oil minister said on Thursday. In a sharp policy shift, U.S. President Donald Trump targeted Russia’s largest oil companies, Lukoil (LKOH.MM) … Read more
(Reuters) – Google has entered into the first corporate agreement to buy electricity from a U.S. power plant using carbon capture and storage in a deal to help fuel its data centers in the country’s Midwest region, the technology company said on Thursday. Big Tech’s plans to expand technologies like generative artificial intelligence, which will … Read more
Summary Brent, WTI both headed for 7% weekly gain US sanctions on two Russian oil companies raise supply concerns Chinese state oil majors to suspend Russian oil purchases Indian refiners set to cut their Russian crude imports (Reuters) – Oil prices edged up on Friday, extending the previous day’s surge and on track for a … Read more
By Javier Blas The US will consume an annual average of 20.59 million barrels of oil a day in 2025, the highest in 18 years, according to current trends. High US per capita oil consumption is driven by several factors, including a rich population living in sprawling suburbia and poor public transport. The Trump administration’s … Read more
The Environmental Protection Agency’s proposal to stop greenhouse gas reporting for big polluters could save oil and gas companies up to $256 million a year, but some companies warn it could hurt their business. Axing the Greenhouse Gas Reporting Program could jeopardize oil and gas firms’ ability to claim tax credits and hurt companies selling … Read more
(Reuters) – The Trump administration on Thursday announced a series of steps to open up Alaskan wilderness to energy and infrastructure development, including by resuming oil and gas leasing in the remote Arctic National Wildlife Refuge. The Interior Department said in a statement that it will reopen the full 1.5-million-acre (0.6-million-hectare) Coastal Plain of the … Read more
(Reuters) – President Vladimir Putin said on Thursday that Moscow would never bow to pressure from the United States or any other foreign power, and cautioned that it would deliver an “overwhelming” response to any military strikes deep inside Russia. U.S. President Donald Trump on Wednesday hit Russia’s two biggest oil companies with sanctions in … Read more
Here is a summary of some of the thousands of international sanctions imposed on Russia over its invasion of Ukraine. ENERGY COMPANIES – U.S. President Donald Trump placed sanctions on Russian oil giants Rosneft and Lukoil on October 23, giving other companies until November 21 to wind down transactions with them. On October 9, Washington … Read more
(Reuters) – The prompt Brent crude futures contract on Thursday returned to trading at a premium to the six-month contract after new U.S. sanctions on Russia revived concern of a tight market in the near term, erasing earlier signs of a fear of a glut. The first-month Brent contract is now trading at near $2 … Read more
Summary U.S. imposes sanctions on Russian producers Rosneft, Lukoil India is biggest buyer of seaborne Russian oil since Ukraine war Russian oil purchases a key Trump irritant in India trade talks Reliance plans to halt imports under Rosneft deal – sources (Reuters) – Indian refiners are poised to sharply curtail imports of Russian oil to … Read more
U.S. President Donald Trump imposed sanctions on Russia’s two largest oil companies, marking a significant escalation in his efforts to starve Moscow of vital revenue to fund its war in Ukraine. The effectiveness of these measures – which target Russia’s Lukoil and Rosneft – will, however, hinge on Trump’s willingness to enforce secondary sanctions and … Read more
(Reuters) – U.S.-based energy company EQT Corp said on Wednesday it expects to maintain natural gas production in 2026 at levels consistent with its 2025 exit rate, following lower sales volumes forecast for the current quarter. Shares of the Pennsylvania-based company were down 3.8% at midday. The company expects total sales volume of 550 to … Read more
Summary US slaps sanctions on Rosneft, Lukoil over Ukraine war Indian refiners reviewing their Russian oil purchases US crude, fuel stocks down on strong refining and demand (Reuters) – Oil prices rose nearly 5% on Thursday after the U.S. imposed sanctions on major Russian suppliers Rosneft and Lukoil over the Ukraine war, extending gains from the … Read more
U.S.-based Williams will spend $1.9 billion on the development of LNG facilities and a pipeline for Australian gas producer Woodside Energy’s $17.5 billion liquefied natural gas project in Louisiana, the companies said. The pipeline operator will take up a 10% stake in the Louisiana LNG Infrastructure LLC and will also simultaneously buy an 80% interest … Read more
U.S. President Donald Trump on Wednesday said he expected to reach a trade agreement with Chinese President Xi Jinping, and said he would raise concerns about China’s purchases of Russian oil during their meeting in South Korea next week. “I think we’ll make a deal,” Trump told reporters during a meeting with NATO Secretary General … Read more
(Reuters) – The operator of Canada’s Trans Mountain pipeline and oil shippers are in talks to resolve a shipping cost dispute that has deterred usage of Canada’s only east-west pipeline and hindered the government’s plan to sell it. Documents filed with the Canada Energy Regulator on Tuesday by Trans Mountain Corp and a group of … Read more
(Reuters) – Persistently weak crude prices pressured merger and acquisition activity in the U.S. upstream oil and gas sector in the third quarter, analytics firm Enverus said on Wednesday. Dealmaking fell for the third straight quarter as U.S. crude futures averaged around $65 a barrel during the July through September period, around the level producers … Read more
(Reuters) – U.S. crude oil, gasoline and distillate inventories fell last week as refining activity and demand strengthened, the Energy Information Administration said on Wednesday. Crude inventories fell by 961,000 barrels to 422.8 million barrels in the week ended October 17, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.2 … Read more
(Reuters) – Saudi Arabia’s crude oil exports in August rose to their highest level in six months, data from the Joint Organizations Data Initiative (JODI) showed on Wednesday. Crude exports increased to 6.407 million barrels per day (bpd) from 5.994 million bpd in July, marking their highest level since February 2025. Saudi Arabia, the world’s … Read more
By Timothy Gardner US plans to make weapons-grade plutonium available US expects to begin saying who gets material by Dec. 31 Nuclear safety experts concerned about proliferation Previous US plutonium MOX fuel effort failed WASHINGTON, Oct 22 (Reuters) – The U.S. Department of Energy expects to begin announcing by December 31 which companies will take … Read more
By Sheila Dang HOUSTON, Oct 22 (Reuters) – Exxon Mobil (XOM.N) said on Wednesday it signed an agreement with the government of Gabon to explore for oil and gas off the coast of the central African country. The memorandum of understanding, a non-binding agreement, marks an expansion of the top U.S. oil major’s activities in … Read more
Japan’s new prime minister Sanae Takaichi is expected to push for the accelerated revival of nuclear power to tackle inflation, a source of public discontent, with reactor restarts key to reducing costly fuel imports. Takaichi has appointed Ryosei Akazawa, who was Japan’s point person in its recent tariff deal with the U.S., as trade and … Read more
Halliburton Co. is diversifying into data-center power generation amid slackening worldwide demand for oilfield fracking. The company has sealed a deal with VoltaGrid LLC to provide electricity generation to data centers, marking its first major foray into powering the artificial-intelligence sector. Halliburton’s move into the data-center industry follows similar moves by oilfield competitors Baker Hughes … Read more
An offshore wind venture between BP Plc and Japan’s Jera Co. plans to close its operating activities in the US as the clean energy resource faces pressure from the Trump administration. JERA Nex bp — the merged offshore wind units of the two companies — said all team members in the US market will leave … Read more
Summary EU wants big companies to focus on sustainability, due diligence Qatar and US warn rules pose a risk to EU’s energy supplies EU relying more on US, Qatar energy to replace Russian gas (Reuters) – Qatar and the U.S. have urged the European Union to scale back its corporate sustainability rules and warned that … Read more
Summary Companies Orders for new US offshore wind vessels have stopped Ports adjust plans, face delays after federal funding losses Trump administration says it can revive US maritime industries without offshore wind (Reuters) – U.S. shipbuilders and port operators are getting hit in the fallout from President Donald Trump’s campaign to wipe out the offshore wind industry, … Read more
Ron Bousso Summary Brent oil prices drift towards $60 a barrel Future contracts have shifted in recent weeks into a contango structure Huge divergence in estimates over OPEC production to put floor on oil price decline (Reuters) – Global oil prices are signalling that the market is tipping into a protracted period of oversupply, but … Read more
By Yusuke Maekawa Japan’s trade minister said the country aims to curb dependence on Russian liquefied natural gas, but can’t immediately halt imports despite growing pressure from the US. “Japan has steadily reduced dependency on Russian energy in the wake of the Ukraine war,” Trade Minister Yoji Muto said on Tuesday, without providing a timeline … Read more
The facts about one of Canada’s biggest industries By Deborah Jaremko Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Alberta’s oil sands sector is one of Canada’s most important industries — and also one of its most misunderstood. Here are five common myths, and the facts behind them. … Read more
U.S.-based energy company EQT Corp beat Wall Street estimates for third-quarter profit on Tuesday, benefiting from higher natural gas prices and sales volumes. The demand for and output of U.S. natural gas are expected to hit record highs in 2025, according to the Energy Information Administration’s Short-Term Energy Outlook. The energy sector has been benefiting … Read more
(Reuters) – Ananym Capital would like to see energy and technolgy company Baker Hughes spin out its oil field services and equipment business, arguing such a step could help push up the stock price by at least 60%. “That’s our preferred path based on our analysis,” Ananym co-founder Charlie Penner said on Tuesday at the … Read more
Summary Trump says India to limit Russian oil purchases Trump-Putin summit put on hold US-China trade talks in doubt (Reuters) – Oil prices pushed higher for a second day on Wednesday, rising by about 2%, buoyed by hopes of progress of a U.S. trade deal with China and India. Brent crude futures rose 96 cents, … Read more
U.S. President Donald Trump on Wednesday imposed Ukraine-related sanctions on Russia for the first time in his second term, targeting oil companies Lukoil and Rosneft as his frustration grows with Russian President Vladimir Putin over the war. The U.S. Treasury Department said it was prepared to take further action as it called on Moscow … Read more
(Reuters) – The U.S. Department of Energy said on Tuesday it is looking to buy 1 million barrels of crude oil for delivery to the Strategic Petroleum Reserve, as it seeks to take advantage of relatively low oil prices to help replenish the stockpile. The previous administration of former President Joe Biden sold record amounts … Read more
(Reuters) – Natural gas consumption by U.S. LNG firms looks set to overtake gas use by U.S. households for the first time in 2025, stoking tensions between the export-oriented LNG sector and domestic gas consumers already saddled with record-high energy bills. LNG exporters are by far the fastest-growing source of U.S. natural gas demand, with … Read more
PITTSBURGH, Oct. 21, 2025 /PRNewswire/ — EQT Corporation (NYSE: EQT) today announced financial and operational results for the third quarter of 2025. Third Quarter 2025 Results: Production: Sales volume of 634 Bcfe, toward the high-end of guidance driven by strong well performance and compression project outperformance Capital Expenditures: $618 million, 10% below the mid-point of guidance due to … Read more
(Reuters) – Venture Global received permission to introduce natural gas into the final block of its Plaquemines LNG export facility in Louisiana on Tuesday, according to a filing from the Federal Energy Regulatory Commission. The FERC approval means Venture Global could be producing liquefied natural gas from its entire Plaquemines export facility by the end … Read more
(Reuters) – U.S. natural gas futures hit a two-week high on Tuesday, underpinned by sharply colder 1–2 week forecasts that are lifting heating demand expectations, a month-to-date dip in output and strong LNG feedgas demand. Front-month gas futures for November delivery on the New York Mercantile Exchange rose 4.7 cents, or 1.4%, to $3.44 per … Read more
(Reuters) – Top Polish and U.S. energy officials discussed a potential boost of supplies of U.S. liquefied natural gas (LNG) via Poland to Central Europe to reduce the region’s dependence on Russian gas, Poland’s energy ministry said on Tuesday. Last week, Poland’s Deputy Energy Minister Wojciech Wrochna and U.S. energy secretary Chris Wright discussed in … Read more
By Nathan Risser Phillips 66 and Kinder Morgan Inc. plan to build a new pipeline system and reverse the flow on some existing conduits to haul gasoline and other fuels to California, Arizona and Nevada. As California’s in-state refining capacity dwindles, the regional market is becoming increasingly reliant on imported fuels, especially gasoline. The pipeline … Read more
By Tanay Dhumal Oct 21 (Reuters) – Halliburton (HAL.N) said on Tuesday it expected international oilfield revenue to rise in the fourth quarter as overall drilling activity remained steady, while projecting $400 million in annual savings from its cost-cutting measures. Shares of the company, the third-largest global oilfield services company by revenue, jumped 9%, aided … Read more
Oct 21 (Reuters) – CenterPoint Energy (CNP.N) will sell its natural gas distribution unit in Ohio to National Fuel Gas (NFG.N) for $2.62 billion, as the U.S. utility focuses on its core regulated electric and gas operations in other states. Shares of distribution company National Fuel fell 4.7% in morning trade on Tuesday and that … Read more
Halliburton beat Wall Street estimates for third-quarter profit on Tuesday, helped by steady demand for its oilfield equipment and services in North America. Quarterly revenue from its North America segment was $2.4 billion, flat from a year earlier, but above analysts’ average estimate of $2.17 billion. Halliburton said the results were supported by increased stimulation … Read more
Antony Currie MELBOURNE, Oct 21 (Reuters Breakingviews) – China’s President Xi Jinping won’t exactly be quaking in his boots after reading the terms of a critical minerals pact by his U.S. and Australian counterparts on Monday. Donald Trump and Anthony Albanese between them pledged roughly $4 billion of their taxpayers’ money to bulk up mining and processing … Read more
There’s a rush toward small next-generation reactors as a way to satisfy booming power demand. By Will Wade Country music was playing during lunch as conference attendees wearing cowboy boots talked energy. But the chatter wasn’t about oil — all the buzz was for “electrons.” This year’s Texas Nuclear Summit in Austin experienced a jump … Read more
Venture Global has asked federal regulators for permission to introduce natural gas by Thursday into the final block of its Plaquemines LNG plant, according to a regulatory filing on Monday. If the Federal Energy Regulatory Commission grants the permission, Venture Global will soon be producing LNG from its entire Plaquemines plant, more than a year … Read more
(Reuters) – U.S. natural gas pipeline exports to Mexico averaged 7.5 billion cubic feet per day (bcfd) in May 2025, the most of any month on record as Mexico’s demand for natural gas increases, the U.S. Energy Information Administration said on Monday. On an annual basis, U.S. natural gas pipeline exports to Mexico averaged 6.4 … Read more
By Julian Lee A flotilla of crude oil on the world’s oceans expanded to a fresh high as producer nations keep adding barrels and the tankers sail further for deliveries. A total of 1.24 billion barrels of crude and condensate, a light form of oil recovered from gas fields, was moving on tankers in the … Read more
(Reuters) – Oil prices rose on Tuesday after a fall in the previous session as traders navigated concerns over an oversupplied market along with the trade dispute between the U.S. and China, the world’s top two oil consumers. Brent crude futures were up 52 cents, or 0.84%, at $61.52 a barrel at 1019 GMT. The U.S. West … Read more
(Reuters) – The backers of a proposed 800-mile (1,287 km) gas pipeline in Alaska championed by U.S. President Donald Trump expect to complete a key engineering and cost study by the end of this year, Interior Secretary Doug Burgum said on Monday. The ambitious proposal to transport gas from Alaska’s far north to the Gulf … Read more
Oct 21 (Reuters) – With electricity demand in the United States set to hit record highs in 2025 and 2026, utilities are doubling down on assets that can boost their power generation capacity while shedding others to fund their massive spending plans. The dealmaking spree comes as the industry prepares for rapid growth in electricity … Read more
(Reuters) – A lobbying group whose board includes U.S. firms like Oracle, Amazon.com and Exxon Mobil is urging the Trump administration to immediately suspend a rule it says halted billions of dollars’ worth of U.S. exports and will prompt China and other countries to drop U.S. firms from their supply chains. In a letter addressed … Read more
LPG tanker MV FALCON on fire and adrift in the Gulf of Aden, following a salvage operation, after an explosion on board on October 18, 2025, maritime security sources said. EUNAVFOR ASPIDES/Handout via REUTERS. THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT ATHENS, Oct 20 (Reuters) – An operation was underway on … Read more
U.S. natural gas futures jumped about 8% to a one-week high on Monday on forecasts for much colder weather and higher heating demand over the next two weeks than previously expected and on a decline in output so far this month and near-record flows of gas to liquefied natural gas (LNG) export plants. Front-month gas … Read more
Ukraine may import gas worth around $2 billion from Europe, the United States and Azerbaijan this winter, President Volodymyr Zelenskiy said, after its gas infrastructure was severely damaged by Russian attacks. He did not specify how much gas Ukraine planned to purchase. Kyiv had expected to import 4.6 billion cubic meters (bcm) of gas before … Read more
Ron Bousso Summary Trump says India pledged to cut Russian crude imports India bought 40% of Russian crude exports so far in 2025 Halting purchases will hurt Moscow, but is unlikely to cut its exports (Reuters) – Donald Trump is putting more pressure on India to slash its Russian oil purchases. This could deprive Moscow of vital … Read more
(Reuters) – EU energy ministers on Monday backed a proposal to phase out Russian oil and gas imports to the bloc by January 2028, the Council of the European Union said. The ministers approved the plans, which would phase out new Russian gas import contracts from January 2026, existing short-term contracts from June 2026, and long-term … Read more
Until recently, pneumatic vent rates have been tedious and challenging to report. Fortunately, the Oil and Gas Methane Partnership 2.0 (OGMP) has approved the use of nitrogen data for Level 4 pneumatics reporting. This approval makes OGMP Level 4 reporting easy and speaks to the high quality of venting data generated by Kathairos Solutions’ nitrogen-based … 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
Summary Trade tensions spur oil demand concerns Trump keeps pressure on India to stop buying Russian oil Brent six-months spread in 30-cent contango (Reuters) – Oil prices dipped on Monday, pressured by worries over a global glut as U.S.-China trade tensions added to concerns about an economic slowdown and weaker energy demand. Brent crude futures … 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
Summary Trump keeps up pressure on India to stop buying Russian oil U.S.-India trade talks ‘congenial’, Indian official says “I spoke with Prime Minister Modi of India, and he said he’s not going to be doing the Russian oil thing,” Trump told reporters aboard Air Force One. Asked about India’s assertion that it was not aware … Read more
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
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
(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
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