(Reuters) – The discount on U.S. crude futures to the global benchmark Brent has grown by around $1 per barrel since the U.S. ousted Venezuelan President Nicolas Maduro on January 3 and took control of the South American country’s oil flows, redirecting millions of those barrels to U.S. ports in a move likely to boost … Read more
(Reuters) – Lower oil prices are expected to cut U.S. drilling activity and reduce output 1% this year from the top producing country, while potentially higher output from Venezuela could add pressure, the Energy Information Administration said on Tuesday. The comments from the Department of Energy’s statistical arm add to worries expressed by some U.S. … Read more
(Reuters) – Cheniere Energy will process 10 billion cubic feet per day (bcf/d) of natural gas by the end of 2026, CEO Jack Fusco said on Tuesday at an API event in Washington. Fusco said he saw room for the U.S. to continue growing as an exporter. Reporting by Curtis Williams in Houston; Editing by … Read more
(Reuters) – Venezuela’s state oil company has begun reopening some of the wells it and its joint venture partners had shut amid a strict U.S. embargo, as crude exports resume with two shipments departed on Monday, three sources close to operations said. The OPEC country’s oil exports had remained almost at a standstill since December, … Read more
Annual analysis explains changing U.S. load expectations, expanding long-term oil supply potential in Venezuela and selective investments across the energy transition AUSTIN, Texas (Jan. 13, 2026) — Enverus, the leading energy SaaS and analytics platform, is releasing its 2026 Global Energy Outlook, a comprehensive overview that frames the year around hydrocarbon prices, power system realities, upstream … Read more
(Reuters) – Cubans are bracing for impact after U.S. President Donald Trump vowed to cut off a lifeline of Venezuelan oil from reaching Cuba, setting up a siege scenario for an island already reeling from crippling blackouts and shortages. Venezuela, once the island’s top supplier, has not sent crude or fuel to Cuba for about … Read more
Summary Trump claims control over Venezuela’s oil reserves Roszarubezhneft took over Rosneft’s Venezuelan holdings in 2020 Roszarubezhneft says it will continue working in Venezuela (Reuters) – Oil assets that Russia develops in Venezuela belong to Russia, which will continue working there, Moscow said on Tuesday, after U.S. President Donald Trump’s claims of control over the … Read more
(Reuters) – U.S. shale producer Diamondback Energy on Monday flagged lower prices for its oil production in the fourth quarter, compared to the preceding three months. Oil prices declined 9.2% during the three months ended December 31, as concerns about oversupply and tariffs outweighed geopolitical risks. The company said the average realized prices, or the … Read more
Summary Drones hit tankers near terminal which exports Kazakh oil Ukrainian drone attacked CPC terminal on November 29 Kazakh oil output down 35% in Jan. 1–12, source says (Reuters) – Four Greek-managed oil tankers were hit by unidentified drones on Tuesday in the Black Sea on the way to load oil at the Caspian Pipeline … Read more
(Reuters) – If record-high U.S. stock prices accurately reflect investors’ assessment of the first year of Trump 2.0, then it’s a glowing scorecard for the most interventionist government in decades. It’s yet another example of the topsy-turvy economic world where the global norms and orthodoxies of the last 40 years are being questioned and sometimes … Read more
Oil prices are likely to drift lower this year as a wave of supply creates a market surplus, although geopolitical risks tied to Russia, Venezuela and Iran will continue to drive volatility, Goldman Sachs said in a note on Sunday. The investment bank maintained its 2026 average price forecasts of $56/$52 per barrel for Brent/WTI, … Read more
Oil prices surge on possible Iranian supply disruption Summary Iran faces biggest anti-government demonstrations in years Unrest in Iran adds $3-4 a barrel risk premium, Barclays says US tariffs on Iran could hit oil exports to China (Reuters) – Oil prices extended gains on Tuesday as heightened concerns surrounding major producer Iran and potential supply … Read more
(Reuters) – Workforce security and policy reform including contract sanctity are among the prerequisites that have to be in place in Venezuela for the U.S. oil industry to move in, American Petroleum Institute President Mike Sommers said on Monday during a telephone conference with journalists. He said the move to remove Nicolas Maduro from power … Read more
Summary Exxon surprised by Trump’s remarks on Sunday Exxon, ConocoPhillips face long-term re-entry challenges Chevron is the only US major operating in Venezuela HOUSTON, Jan 12 (Reuters) – Exxon Mobil remains interested in visiting Venezuela and is prepared to send an assessment team there, a source familiar with the company’s strategy told Reuters on Monday, a … Read more
(Reuters) – U.S. Supreme Court justices wrestled on Monday over whether lawsuits by Louisiana officials seeking to hold oil and gas companies, including Chevron and Exxon Mobil, responsible for harming the state’s coast should be moved out of the Bayou State’s courthouses and into federal court. The justices during a little more than an hour … Read more
(Reuters) – Private equity giant Carlyle, a group comprising oil major Chevron and Quantum Capital Group as well as UAE-based investor International Holding Company are competing for the global assets of Russia’s Lukoil as a U.S. deadline to sell them expires this week, sources said. The United States imposed sanctions on Lukoil and its peer … Read more
(Reuters) – Iran has a record amount of oil on the water, equivalent to about 50 days of output, with China having bought less because of sanctions and Tehran seeking to protect its supplies from the risk of U.S. strikes, data from Kpler and Vortexa shows. The amount of Iranian crude and condensate, either on … Read more
US to push for quicker action in reducing reliance on China for rare earths Summary US Treasury’s Bessent said frustrated with lack of urgency G7 plus India, South Korea, Australia and Mexico to attend China dominates critical minerals production (Reuters) – U.S. Treasury Secretary Scott Bessent will urge Group of Seven nations and others to … Read more
U.S. President Donald Trump said on Sunday that he might block Exxon Mobil from investing in Venezuela after the oil major’s CEO called the country “uninvestable” during a White House meeting last week. Exxon CEO Darren Woods told Trump that the Venezuelan market is “uninvestable” in its current state. Venezuela seized Exxon’s and Conoco’s assets in … Read more
Ron Bousso U.S. President Donald Trump attends a meeting with oil industry executives, at the White House in Washington, D.C., U.S., January 9, 2026. REUTERS/Evelyn Hockstein LONDON, Jan 12 (Reuters) – Big Oil companies have injected a heavy dose of realism into U.S. President Donald Trump’s plan to rapidly invest billions in Venezuela, pointing to … Read more
(Reuters) – Norway’s government said on Monday it will present a policy document to parliament next year on the future of the oil and gas industry, including companies’ access to exploration acreage. “The oil and gas industry is crucially important for Norway, and should be developed, not phased out,” Prime Minister Jonas Gahr Stoere said … Read more
(Reuters) – A U.S. judge on Monday will consider a request from Danish energy company Orsted for an injunction against the Trump administration’s decision to halt its $5 billion Revolution Wind project off the coast of Rhode Island. The company’s lawsuit is one of several filed by offshore wind companies and states seeking to reverse the Interior Department’s December … Read more
U.S. Energy Secretary Chris Wright said on Friday that Chevron saw a pathway to grow its Venezuela production by 50%, with his comments coming after a meeting that President Donald Trump had with oil companies on the South American nation. Chevron “said with the actions that were taken and some additional things we can do for … Read more
If it’s successful, and that’s a big if, Trump’s imperialistic investment would pay off shortly after US oil output peaks. By Peter Millard Rusty pipelines. Unchecked spills. Decades of chronic underinvestment, brain drain and mismanagement. Venezuela’s oil industry is in shambles, and restoring it to its former glory would cost an estimated $100 billion—if Big … Read more
(Reuters) – U.S. President Donald Trump signed an executive order aimed at blocking courts or creditors from impounding revenue tied to the sale of Venezuelan oil held in U.S. Treasury accounts, the White House said on Saturday. The emergency order said the revenue, held in foreign government deposit funds, should be used in Venezuela to help create … Read more
U.S. Treasury Secretary Scott Bessent speaks during a press conference in Washington, D.C., U.S., December 17, 2025 Summary US Treasury chief aims to facilitate oil sale proceeds repatriation to Venezuela Bessent says will meet with IMF and World Bank on Venezuela next week Treasury chief eyes mobilization of Venezuela’s $5 billion in frozen IMF reserve … Read more
Summary Iran says situation ‘under total control’ after weekend violence Iran protest deaths exceed 500, rights group says Companies scramble to find ships for Venezuelan oil -sources LONDON, Jan 12 (Reuters) – Oil prices dipped on Monday after Iran said it had total control following the biggest anti-government demonstrations in years, easing some concerns over supply from … Read more
Summary Vitol, Trafigura have global sales, shipping, logistics U.S. oil majors wary of legal, credit, physical risks Venezuelan oil stored on old ships, was heading to China (Reuters) – Global oil trading houses have emerged as early winners in the race to control Venezuelan crude flows, getting ahead of U.S. energy majors wary of credit … Read more
Summary Exxon requires security guarantees before sending team to Venezuela Venezuela’s hydrocarbons law needs reform for investment, Woods says Chevron is preparing for an immediate bump in production Jan 9 (Reuters) – Exxon Mobil CEO Darren Woods said on Friday the U.S. oil major is ready to evaluate a potential return to Venezuela in what … Read more
Data shows millions of tons of methane spewing from the nation’s decaying energy infrastructure, underscoring how much work is required to revive production. By Aaron Clark An image captured by EMIT on September 24, 2025, shows five emissions on the same day and in the same area.Source: Kayrros SAS, processed L1B image from NASA/JPL-Caltech’s EMIT … Read more
The Trump administration wants the oil majors to rebuild the nation’s energy industry. Chevron has been on the ground there for decades. By Brian Wall With Venezuela President Nicolás Maduro in a jail cell in New York, Donald Trump moved on to the next stage of his plan for the South American nation. The US … Read more
By Reshmi Basu The New Fortress Energy liquefied natural gas terminal near the Port of San Juan in Puerto Nuevo, Puerto Rico. Photographer: Alejandro Granadillo/Bloomberg New Fortress Energy Inc. is asking its creditors for yet more time to hash out a debt restructuring before a forbearance period on some of its borrowings expires, according to … Read more
(Reuters) – U.S. President Donald Trump began a meeting to discuss Venezuela with executives from some of the world’s largest oil companies at the White House on Friday, saying he wants them to invest $100 billion in the country to vastly expand its production. The meeting reflects the importance of oil to Trump’s strategy for … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by two to 544 in … Read more
By Georgina McCartney and Arathy Somasekhar Trump aims for $50 oil, below profitable level for U.S. producers Venezuelan oil redirection to pressure U.S. shale margins U.S. refineries to benefit from Venezuelan oil influx HOUSTON, Jan 9 – U.S. oil producers already reeling from low oil prices are facing renewed pressures, as President Donald Trump pushes … Read more
(Reuters) – The U.S. involvement in Venezuela’s oil sector offers a potential opportunity for international banks, with JPMorgan Chase in an advantageous spot due to its history in the country and past involvement with international trade financing. A clutch of banks including JPMorgan and Citigroup have historically operated in the country, but reduced operations or … Read more
By Didi Tang And Bernard Condon A banner on the front end of a bus features images of Venezuelan President Nicolas Maduro and China’s Xi Jinping with a message that reads in Spanish: “An example for the world,” during a government-organized rally opposing U.S. intervention, in Caracas, Venezuela, Saturday, Dec. 13, 2025. (AP Photo/Cristian Hernandez) … Read more
Summary Iran unrest, Russia-Ukraine war raise supply concerns Global inventories rise, oversupply may limit price gains White House to meet oil firms to discuss Venezuela NEW YORK, Jan 9 (Reuters) – Oil prices rose 2% on Friday on growing supply worries linked to intensifying protests in oil-producing Iran and an escalation of attacks in Russia’s war … Read more
CALGARY – U.S. President Donald Trump’s ambition to have U.S. energy companies swoop in and revive Venezuela’s beleaguered oil industry has raised questions about what it means for Canadian oilsands producers and whether it’s a task American supermajors can or even want to take on. Here is a rundown of the past and potential of … Read more
(Reuters) – Shell narrowed its projected range for fourth-quarter liquefied natural gas production but kept it within previous guidance, it said in a trading update on Thursday, as it warned of a loss in its chemicals business. It said its chemicals and products segment’s earnings will be below break-even in the fourth quarter, dragged down … Read more
(Reuters) – U.S. Energy Secretary Chris Wright said there was room to balance roles for both the United States and China in Venezuela to allow for commerce but that Washington would not allow Beijing to have major control over the Latin American country. In an interview on Fox Business Network, Wright also said he expected … Read more
(Reuters) – DENVER, Jan 7 – U.S. crude stocks fell while gasoline and distillate inventories rose last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.8 million barrels to 419.1 million barrels in the week ended January 2, the EIA said, compared with analysts’ expectations in a Reuters poll for a … Read more
Summary Investors skeptical about Venezuela’s political stability and investment costs Chevron, ConocoPhillips cautious about rushing into Venezuela investments, sources say US plans three-phase process for Venezuela’s recovery, Rubio says (Reuters) – U.S. oil executives being summoned to the White House on Friday to discuss potential investment plans in Venezuela will be carefully weighing the country’s … Read more
(Reuters) – The White House is convening a meeting on Friday with major U.S. and international oil companies to discuss potential investment in Venezuela’s energy sector, as the administration weighs ways to revive crude output in the sanctions-hit country, according to a White House official. The companies include producers, refiners, traders and oilfield services firms … Read more
(Reuters) – Refineries along the U.S. Gulf Coast from Corpus Christi, Texas to Pascagoula, Mississippi are configured to run the heavy sour, corrosive crude oil produced by Venezuela that President Donald Trump plans to sell in the U.S., following the capture last weekend of Nicolas Maduro. Beginning in the 1990s, refiners reconfigured their plants with … Read more
The U.S. Senate advanced a resolution on Thursday that would bar President Donald Trump from taking further military action against Venezuela without congressional authorization, paving the way for further consideration in the 100-member chamber. The vote on a procedural measure to advance the war powers resolution was 52 to 47, as a handful of Trump’s … Read more
(Reuters) – The U.S. move to seize foreign vessels in international waters seriously violates international law, the Chinese foreign ministry said on Thursday. “China has always opposed illegal unilateral sanctions without the basis of international law and without the authorisation of the United Nations Security Council,” ministry spokesperson Mao Ning said at a press conference. … Read more
The following is an update to the fourth quarter 2025 outlook and gives an overview of our current expectations for the fourth quarter. Outlooks presented may vary from the actual fourth quarter 2025 results and are subject to finalisation of those results, which are scheduled to be published on February 5, 2026. Unless otherwise indicated, … Read more
(Reuters) – President Donald Trump plans to import previously sanctioned Venezuelan oil into the U.S., tearing up the global energy playbook and underscoring the seriousness of the administration’s ambition to dominate the Western Hemisphere. China may be the ultimate target of this “Donroe Doctrine”- Trump’s rebranding of a 19th-century doctrine that asserted Washington’s zone of … Read more
The United States could oversee Venezuela and control its oil revenue for years, President Donald Trump said in an interview published on Thursday. During what the New York Times described as a wide-ranging, two-hour interview, the paper said Trump also appeared to lift a threat to take military action against Venezuela’s neighbour Colombia. Trump invited … Read more
Summary Norway’s petroleum output seen broadly steady in 2026 Output seen gradually declining towards 2030 Oil investments seen down nearly 7% in 2026 vs 2025 Lower demand to hit supplier industry (Reuters) – Norway’s offshore oil and gas output will remain broadly steady in 2026, but investments are seen falling by 6.6%, signalling a … Read more
Summary US boarded tanker that escaped blockade and put up Russian flag US also seized second Venezuela-linked tanker Venezuela’s main buyer China denounces US ‘bullying’ (Reuters) – The U.S. seized two Venezuela-linked oil tankers in the Atlantic Ocean on Wednesday, one sailing under Russia’s flag, as part of President Donald Trump’s aggressive push to dictate oil … Read more
(Reuters) – The discount on Western Canada Select to North American benchmark West Texas Intermediate futures grew on Wednesday to its widest point in 18 months as investors digested U.S. President Donald Trump’s deal to import up to $2 billion worth of Venezuelan crude. WCS for February delivery in Hardisty, Alberta, settled at $14.45 a … Read more
Summary Brent and WTI benchmarks firm US crude stocks fell last week while fuel stocks rose, says EIA Two Venezuela-linked oil tankers seized by US in Atlantic Ocean (Reuters) – Oil prices rose on Thursday after two days of declines as investors assessed Venezuela developments and reports on progress of proposed U.S. sanctions legislation against … Read more
U.S. President Donald Trump and his advisers are planning an initiative to dominate the Venezuelan oil industry for years to come, and the president told aides he believes his efforts could help lower oil prices to $50 a barrel, the Wall Street Journal reported on Wednesday. A plan under consideration includes the U.S. exerting some … Read more
(Reuters) – U.S. oil major Exxon Mobil said on Wednesday that lower crude oil prices could cut its fourth-quarter upstream earnings by about $800 million to $1.2 billion. Oil prices declined 9.2% during the three months ended December 31, as concerns about oversupply and tariffs outweighed geopolitical risks. Brent crude futures shed about 19% in … Read more
Summary Expanded license would boost Chevron supply to own refineries Chevron could sell Venezuelan oil to other refiners Washington also wants Exxon, Conoco, Valero involved in Venezuelan oil exports (Reuters) – Oil producer Chevron is in talks with the U.S. government to expand a key license to operate in Venezuela so it can increase crude exports … Read more
(Reuters) – EOG Resources said on Wednesday that oversupply from Venezuela is driving oil prices down and it would last for several more quarters. Brent crude futures were down about 0.6% at $60.30 a barrel in the day, while U.S. West Texas Intermediate crude lost about 1% to $56.53 a barrel. Prices fell as investors … Read more
(Reuters) – Russia said on Wednesday that the U.S. seizure of a Russian-flagged oil tanker in the Atlantic was a violation of maritime law, and a senior lawmaker described it as “outright piracy”. Russia’s Transport Ministry said contact with the vessel, the Marinera, had been lost after U.S. naval forces boarded it near Iceland as … Read more
By Yawen Chen LONDON, Jan 7 (Reuters Breakingviews) – Orsted (ORSTED.CO) has been reminded again that offshore wind developers can do many things right but can still be undone by politics. U.S. President Donald Trump’s 90-day halt on new wind projects is the latest jolt for the $27 billion Danish power group. For CEO Rasmus … Read more
By Idrees Ali, Phil Stewart and Marianna Parraga US boarded boat that escaped blockade and put up Russian flag Trump announces deal to import up to 50 million barrels of crude Venezuela’s main buyer China denounces US ‘bullying’ Oil prices fall on anticipated supply increase Opposition leader Machado’s hope for election on hold WASHINGTON, Jan … Read more
Jan 7 (Reuters) – U.S. Energy Secretary Chris Wright said on Wednesday the government wants to refill the country’s Strategic Petroleum Reserve and is already adding oil, though not as quickly as he would like. Speaking at the Goldman Sachs Energy, CleanTech & Utilities Conference in Miami, Wright said U.S. President Donald Trump had lobbied … Read more
Chevron and private equity group Quantum Energy Partners are teaming up on a bid to buy the international assets of Russian oil major Lukoil, which are valued at $22 billion, the Financial Times reported on Wednesday. Chevron, Quantum, Lukoil and the White House did not immediately respond to requests for comment. Reuters reported in November … Read more
The vessel tanker Bella 1 at Singapore Strait, after U.S. officials say the U.S. Coast Guard pursued an oil tanker in international waters near Venezuela, in this picture taken from social media on March 18, 2025. Hakon Rimmereid/via REUTERS WASHINGTON, Jan 7 (Reuters) – The United States is attempting to seize a Venezuela-linked oil tanker … Read more
Overview Oil prices diverged from the broader trend of rising metals and North American natural gas. WTI fell to lows near US$55/bbl, driven by abundant U.S. supply, growing output from Canada and Guyana, and continued flexibility from OPEC, which together outpaced demand growth. Profoundly impacted by past downturns, Canadian producers became resilient, supported by stronger … Read more
Summary Trump announces deal to import up to 50 million barrels of crude Venezuela’s main buyer China denounces U.S. ‘bullying’ Oil prices fall on anticipated supply increase Captured leader Maduro’s allies keep power in Venezuela Opposition leader Machado’s hope for election on hold for now (Reuters) – Global oil prices fell on Wednesday and China denounced … Read more
U.S. President Donald Trump will meet with oil company executives at the White House late this week to discuss ways to revive Venezuela’s tattered oil sector, according to three sources familiar with the matter. Two of the sources told Reuters the meeting was likely to happen on Friday. It was not immediately clear who would … Read more
Summary Trump says Venezuela to export $2 billion worth of oil to US Deal to redirect Venezuelan oil exports to US from China Both benchmarks extend declines from previous session (Reuters) – Oil prices fell on Wednesday after President Donald Trump said the United States had reached a deal to import up to $2 billion worth of … Read more
MIAMI (AP) — In 2017, as political outsider Donald Trump headed to Washington, Delcy Rodríguez spotted an opening. Then Venezuela’s foreign minister, Rodríguez directed Citgo — a subsidiary of the state oil company — to make a $500,000 donation to the president’s inauguration. With the socialist administration of Nicolas Maduro struggling to feed Venezuela, Rodríguez … Read more
(Reuters) – Venezuelan and U.S. officials are discussing exporting Venezuelan crude to refiners in the United States, five government, industry and shipping sources told Reuters on Tuesday. Venezuela has millions of barrels of oil loaded on tankers and in storage tanks that it has been unable to ship due to a blockade on exports imposed … Read more
(Reuters) – The Trump administration on Tuesday dismissed analysts’ estimates that it would take years to ramp up Venezuela’s crude production, saying there were ways to quickly boost the country’s oil sector. Raising crude output from the South American nation, which sits on the world’s largest oil reserves, is a top objective for President Donald … Read more
LONDON, Jan 6 (Reuters) – Shell (SHEL.L) has agreed to buy stakes in two undeveloped offshore blocks in ultra-deep waters offshore Angola from Chevron (CVX.N), the European energy major said on Tuesday. European oil majors have said they will spend billions in Angola, Sub-Saharan Africa’s second-largest crude oil producer after Nigeria. The country has undertaken … Read more
By Marianna Parraga Chevron’s loadings and crude exports flowing normally Slow loading at Jose, Bajo Grande could put more pressure on output cuts Many loaded vessels remain undeparted in Venezuelan waters Jan 6 (Reuters) – Venezuela was loading crude only for U.S. major Chevron (CVX.N) on Tuesday, while operations by state-run oil firm PDVSA to … Read more
By Arathy Somasekhar and Georgina Mccartney US Gulf Coast refiners set to benefit if Venezuelan sanctions end Canadian crude will lose pricing power if Venezuelan oil flows freely Chinese independent refineries will seek alternatives if Venezuelan crude is redirected HOUSTON, Jan 6 (Reuters) – A full-scale resumption of Venezuelan oil exports would benefit refiners in … Read more
Summary Deal to redirect Venezuelan oil exports to US from China Trump says agreed volume to supply is 30-50 million barrels Exports expected to stem further cuts to Venezuelan output Chevron only US firm currently authorized to export Venezuelan oil US Interior Secretary says US Gulf refiners would take advantage HOUSTON/WASHINGTON, Jan 6 (Reuters) – … Read more
(Reuters) – There were likely many motives behind America’s capture and arrest of Venezuelan President Nicolas Maduro on Saturday, but one little-discussed factor could be the White House’s concerns about the waning global prominence of the “petrodollar.” Venezuela’s oil output is currently modest at barely 1 million barrels per day, but its reported reserves of … Read more
Refiner Phillips 66 said on Tuesday in a Goldman Sachs conference that it has two Gulf coast refineries which can turn and process Venezuela crudes as they ramp up. Reporting by Vallari Srivastava and Pooja Menon in Bengaluru; Editing by Tasim Zahid
Venezuela’s main oil ports on Tuesday entered their fifth day without delivering crude for state-run PDVSA’s customers in Asia, which are the OPEC country’s main buyers, shipping data showed, as the U.S. presses the nation through an oil embargo. Chevron, which is PDVSA’s main joint-venture partner, on Monday resumed exports of Venezuelan oil to the … Read more
By Javier Blas A Madrid protestor holds a caricature of Donald Trump drinking from a Venezuelan oil barrel by Portuguese cartoonist Vasco Gargalo. Photographer: THOMAS COEX/AFP Let’s do the math. Start with the oil production of the US and add Canada. Then include Venezuela and the rest of Latin America, from Mexico to Argentina and … Read more
A former top Chevron executive, Ali Moshiri, is raising $2 billion for Venezuelan oil projects after the U.S. captured its leader Nicolas Maduro and President Donald Trump said Washington would take control of the oil-producing nation, the Financial Times reported on Monday. Moshiri’s investment fund, Amos Global Energy Management, has identified multiple Venezuelan assets and … Read more
By Sing Yee Ong US natural gas futures dropped to the lowest since late October amid forecasts for warmer temperatures next week, which is likely to reduce demand for the fuel. Futures for February delivery declined as much as 5.9% to $3.404/mmbtu in early Asian trading on Monday The contract was at $3.470/mmbtu as of … Read more
By Gavin Maguire LITTLETON, Colorado, Dec 30 (Reuters) – For supporters of the energy transition, 2025 had plenty to complain about: the scrapping of U.S. clean energy policies, wind droughts in Europe, corporate retreats from wind power generation and a resurgence in coal-fired power output. Yet there were also developments to celebrate, including record deployment … Read more
(Reuters) – Pipeline company Energy Transfer said on Tuesday it expects to invest $5.0 billion to $5.5 billion in growth capital in 2026, primarily on projects enhancing its natural gas network.
Summary US to meet oil executives to discuss Venezuelan production boost Analysts predict sufficient supply by 2026 despite uncertainties Reliance Industries halts Russian crude deliveries for January (Reuters) – Oil prices edged slightly higher on Tuesday as the market weighed expectations of ample global supply this year against uncertainty around Venezuelan crude output following the … Read more
Utility Vistra said on Monday it has agreed to buy Cogentrix Energy, comprising 10 natural gas-fired power plants, from Quantum Capital Group for about $4.7 billion, as it looks to meet growing power demand. Shares of the company rose nearly 5% in extended trading. The deal includes about $2.3 billion in cash, $900 million in … Read more
(Reuters) – U.S. President Donald Trump is giving U.S. energy companies the opportunity to revive Venezuela’s massive, derelict oil industry. It’s an offer they may want to refuse. After the U.S. military’s ouster of Venezuelan President Nicolas Maduro at the weekend, representatives of the Trump administration plan to meet with oil executives later this week to discuss boosting Venezuelan … Read more
Summary Top oil companies not initially consulted, executives say Trump wants US firms to invest billions, boost Venezuelan oil output Costs, political uncertainty may hinder progress Meetings with Trump administration now expected, a source said Trump says US may subsidize oil firms to rebuild infrastructure (Reuters) – The administration of President Donald Trump is … Read more
(Reuters) – China is a major customer of and investor in Venezuela’s oil sector, which President Donald Trump aims to revive following the U.S. military’s ouster of President Nicolas Maduro on Saturday. Years of mismanagement, underinvestment and, more recently, U.S. sanctions have slashed Venezuelan crude production to about 1.1 million barrels per day (bpd) last … Read more
(Reuters) – Venezuelan leader Nicolas Maduro’s capture by the United States has deprived Vladimir Putin of an ally and could increase U.S. “oil clout”, but Moscow is eying potential gains from President Donald Trump’s division of the world into spheres of influence. Special Forces seized Maduro only eight months after the Russian president agreed a … Read more
(Reuters) – Here are key facts about international oil companies in Venezuela, a country with the world’s largest oil reserves thrown into crisis by the capture of President Nicolas Maduro by U.S. forces. In the 2000s, former President Hugo Chávez expropriated assets from several foreign oil companies, strengthening state-owned PDVSA’s control over the country’s oilfields. … Read more
(Reuters) – The main risk to the U.S. economy from the Trump administration’s capture of Venezuela’s leader over the weekend would stem from rising oil prices, Minneapolis Federal Reserve President Neel Kashkari said on Monday, but that does not appear to be underway so far. The risk is “mostly through oil prices,” Kashkari said in … Read more
(Reuters) – Delcy Rodriguez, declared the interim president of Venezuela after Nicolas Maduro’s capture by U.S. forces, is one of the iron fists in Venezuelan politics, a practitioner of economic orthodoxy who has strived to build relationships with the private sector and who is known for her taste for luxury. Over more than a decade … Read more
(Reuters) – An oil tanker chartered by U.S. Chevron carrying some 300,000 barrels of Venezuelan heavy crude bound for the U.S. Gulf Coast departed on Monday from the OPEC country’s waters, shipping data showed, after a four-day pause in the company’s exports of Venezuelan oil. Chevron is the only company currently authorized by Washington to … Read more
(Reuters) – United Nations Secretary-General Antonio Guterres raised concerns on Monday about a possible intensification of instability in Venezuela after the U.S. capture of the Latin American country’s president Nicolas Maduro. The 15-member Security Council met at U.N. headquarters in New York just hours before Maduro was due to appear in a Manhattan federal court … Read more
About a dozen tankers loaded with Venezuelan crude and fuel departed in recent days from the country’s waters in dark mode, seemingly breaking a strict blockade imposed by the U.S. amid intense pressure that mounted until the capture of deposed President Nicolas Maduro, monitoring service TankerTrackers.com said. All the identified departed vessels are under U.S. … Read more
Bloomberg News Secretary of State Marco Rubio said the U.S. will use leverage over oil to force further change in Venezuela as he seizes a long-awaited chance to try to shape Latin America in Washington’s favor. Rubio, 54, emerged Sunday as the administration’s chief public voice on Venezuela, laying out hints of strategy after the … Read more
David Blackmon Subscribe to David Blackmon on Substack Here The Roosevelt Corollary to the Monroe Doctrine: “Chronic wrongdoing, or an impotence which results in a general loosening of the ties of civilized society, may in America, as elsewhere, ultimately require intervention by some civilized nation, and in the Western Hemisphere the adherence of the United … Read more
Summary Energy storage could be game changer for lithium – analyst says Demand bolstered by China power sector reforms, data centre boom BEIJING/SINGAPORE, Jan 5 (Reuters) – A boom in battery storage has bolstered the demand outlook for lithium in 2026, driving hopes for an accelerated turnaround for an industry struggling with oversupply. The lithium … Read more
(Reuters) – Crude output in Venezuela is set to increase over a period of time following the dramatic U.S. strike and capture of its president, likely raising global supply and weighing on prices longer-term, oil analysts said. American forces seized Venezuelan President Nicolas Maduro from Caracas over the weekend, and U.S. President Donald Trump said Washington would … Read more
Summary Govt wants US oil giants to finance investment to revive Venezuelan oil sector Security, legal and political risks challenge Venezuela’s oil sector revival (Reuters) – White House and State Department officials have told U.S. oil executives in recent weeks that they would need to return to Venezuela quickly and invest significant capital in the … Read more
Global investors are facing a fresh surge in geopolitical risk after the U.S. capture of Venezuelan President Nicolas Maduro, a move that could unlock the nation’s vast oil reserves and boost risky assets over the longer-term but prompt a flight to safety when trading resumes. President Donald Trump said the U.S. would take control of … Read more
Summary Venezuela’s acting president offers to collaborate with U.S. OPEC+ keeps oil output steady amid turmoil among members Trump says U.S. embargo on Venezuelan oil remains in place (Reuters) – Oil prices slipped on Monday as ample global supplies offset concerns about the impact on oil flows from the U.S. capture of President Nicolas Maduro … Read more
(Reuters) – U.S. oil companies’ shares jumped on Monday, fueled by the prospect of access to Venezuela’s vast oil reserves after President Donald Trump said the U.S. would take control of the South American nation following the arrest of its president. Venezuela holds the world’s largest oil reserves, but production plummeted in recent decades due to mismanagement, … Read more
After removing President Nicolas Maduro from power, the Trump administration is gambling that it can intimidate the Venezuelan leader’s inner circle into toeing the U.S. line with threats of further military action that could put them at risk of a similar fate, according to sources familiar with the matter. President Donald Trump’s advisers also believe … Read more
Venezuela’s toppled leader Nicolas Maduro was in a New York detention center on Sunday awaiting drug charges after President Donald Trump ordered an audacious raid to capture him, saying the U.S. would take control of the oil-producing nation. The image of the 63-year-old Maduro blindfolded and handcuffed en route to the U.S. has stunned Venezuelans … Read more
The U.S. military’s ouster of Venezuelan President Nicolás Maduro is set to swiftly reroute the country’s oil exports back toward the United States – and away from China. That will give U.S. refiners an immediate boost, but President Donald Trump’s plans to revive production in the Latin American country may be slower to materialize. Speaking … Read more
United Nations Secretary-General Antonio Guterres is deeply alarmed by U.S. military action in Venezuela that sets “a dangerous precedent,” his spokesperson said on Saturday ahead of a likely U.N. Security Council meeting. Venezuela and Colombia, backed by Russia and China, have asked for the 15-member Security Council to meet, diplomats said, after the U.S. attacked … Read more
Venezuela’s oil exports, which had fallen to a minimum amid U.S. President Donald Trump’s announced blockade of all sanctioned tankers going in and out of the country’s waters, are now paralyzed as port captains have not received requests to authorize loaded ships to set sail, four sources close to operations said on Saturday. The … Read more
The United States said it had struck Venezuela and captured its long-serving President Nicolas Maduro on Saturday, after months of accusing him of drug-running and illegitimacy in power, marking a dramatic escalation in geopolitical tensions. “The United States of America has successfully carried out a large-scale strike against Venezuela and its leader, President Nicolas … Read more
President Donald Trump said that American oil companies were prepared to enter Venezuela and invest to restore production in the South American country, an announcement that came just hours after Nicolás Maduro was captured and removed by U.S. forces. “We’re going to have our very large U.S. oil companies, the biggest anywhere in the world, … Read more
At 4:21 on Saturday morning, President Donald Trump sent a message on his Truth Social platform: the United States had carried out a daring mission to capture Venezuelan President Nicolas Maduro and his wife. The action came as a surprise, but according to sources familiar with the matter, planning for one of the most complex … Read more
The United States is going to be “very strongly involved” in Venezuela’s oil industry in the wake of the operation to capture Venezuelan President Nicolas Maduro, President Donald Trump told Fox News on Saturday. “We have the greatest oil companies in the world, the biggest, the greatest, and we’re going to be very much involved … Read more
(Reuters) – Following are key facts about the oil industry of Venezuela, whose President Nicolas Maduro was captured by U.S. forces on Saturday, according to U.S. President Donald Trump. RESERVES Venezuela has the world’s largest oil reserves but its crude output remains at a fraction of capacity due to mismanagement, lack of investment and sanctions, … Read more
Summary OPEC+ likely to maintain oil output freeze in Q1 2026, sources say No sign yet that Saudi-UAE tensions over Yemen will affect OPEC+ talks Oil prices fell over 18% in 2025 amid oversupply concerns (Reuters) – OPEC+ will likely maintain steady oil output at its meeting on Sunday, three OPEC+ delegates said on Friday, … Read more
By David Blackmon As many people are no doubt aware by now, President Donald Trump ordered a surgical U.S. incursion into Venezuela last night to destroy narco-terrorist infrastructure and take the illegitimate dictator Nicolas Maduro into custody. You can read more details about all that on my political Substack here and here. Where energy is concerned, … Read more
Summary Trump says US successfully hit Venezuela, took away Maduro Most direct US. action in region since 1989 Panama invasion Explosions rock capital Caracas and other locations Maduro government defiant, accuses US of oil grab Venezuelan leader may face drug trial in U.S. (Reuters) – The U.S. attacked Venezuela and deposed its long-serving autocratic President Nicolas Maduro on … Read more
The U.S. in 2025 became the first country to export more than 100 million metric tons (mmt) of liquefied natural gas in a single year, powered by the startup of production from new plants, preliminary data from LSEG showed.The world’s largest LNG exporter sold 111 mmt of the fuel, almost 20 mmt more than … Read more
Summary Ukraine has increased attacks on Russian refineries Yemen crisis deepens Saudi-UAE rift Brent and WTI posted annual losses of nearly 20% (Reuters) – Oil prices settled lower on Friday on the first trading day of 2026 after registering their biggest annual loss since 2020, as investors weighed oversupply concerns against geopolitical risks, including the … Read more
(Reuters) – Denmark’s Orsted said on Friday it was challenging the U.S. government’s suspension of the lease for its Revolution Wind joint venture and would seek a court injunction against the decision to halt its $5 billion offshore wind project. The Trump administration suspended leases on December 22 for five large offshore wind projects that are under … Read more
HOUSTON, Jan. 02, 2026 (GLOBE NEWSWIRE) — Occidental (NYSE: OXY) announced today it has completed the sale of its chemical business, OxyChem, to Berkshire Hathaway (NYSE: BRK.A, BRK.B) for $9.7 billion in cash, subject to customary purchase price adjustments. “This transaction accelerates our strategy to strengthen Occidental’s balance sheet and focus on our deep and diverse … Read more
Transaction strengthens balance sheet and liquidity with $344.5 million of cash proceeds before customary closing adjustments (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR, “the Company”), an energy technology company, announced Friday the final closing of its previously announced joint venture with a subsidiary of Cactus, Inc., in which Baker Hughes has contributed its surface pressure control … Read more
By Ron Bousso (Reuters) – Energy markets enter 2026 in a downbeat mood as geopolitical uncertainty clouds the outlook and increasing signs of swelling oil and gas supplies threaten to sink prices. This past year was a wild one for the oil and gas industry, punctuated by the 12-day Israel-Iran war in June, U.S. President Donald … Read more
** Canadian oil producers set to end 2025 on a positive note, with integrated operations, strong refining margins and stable cash flows from long-life reserves cushioning the impact of falling crude prices** Brent crude futures down over 17% YTD, their steepest annual drop since 2020 and third straight yearly decline ** As of last … Read more
Summary Sanctions mark latest action in Trump’s pressure campaign US targets four companies it says operated in Venezuela’s oil sector Sanctions also target four vessels (Reuters) – The United States on Wednesday imposed sanctions on four companies it said were operating in Venezuela’s oil sector as well as associated oil tankers, as President Donald Trump’s … Read more
U.S. oil production hit a record high in October, according to the Energy Information Administration on Wednesday. Output rose by 31,000 barrels per day to 13.87 million bpd. Oil output in New Mexico, the second-largest oil-producing state, rose 31,000 bpd to hit a record 2.38 million bpd, while output from the federal offshore gulf region … Read more
Venezuela’s President Nicolas Maduro has extended an olive branch to U.S. President Donald Trump, proposing serious talks on combating drug trafficking and offering U.S. companies ready access to Venezuelan oil. Maduro said Venezuela was a “brother country” to the United States and a friendly government. He noted that when he and Trump last spoke in … Read more
U.S. natural gas futures dropped more than 5% on Wednesday, pressured by warmer forecasts next week and a federal report indicating a smaller-than-expected gas withdrawal, yet record gas flows to LNG export facilities in 2025 kept the market on track for its second straight yearly gain. Front-month gas futures for February delivery on the New … Read more
(Reuters) – U.S. crude stocks fell while gasoline and distillate inventories rose last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 1.9 million barrels to 422.9 million barrels in the week ended December 26, the EIA said, compared with analysts’ expectations in a Reuters poll for a 867,000-barrel draw.29dk2902l Crude stocks … Read more
Summary Brent set to post longest annual losing streak to date UAE withdraws forces from Yemen in conflict with Saudi Arabia Oversupply offsets geopolitical risks, sanctions on producing countries US crude inventories fall, distillate and gasoline stocks rise Oil prices down near 20% on the year (Reuters) – Oil prices fell on Wednesday and recorded … Read more
U.S. energy firms this week added oil and gas rigs for a second week in a row, energy services firm Baker Hughes said on Tuesday. The oil and gas rig count, an early indicator of future output, rose by one to 546 in the week to December 30, its highest since December 12. Baker Hughes … Read more
Takeaways by Bloomberg AI Global exports of liquefied natural gas in 2025 likely saw the biggest jump in three years, as new supply came online in North America. The US is poised to cement its role as a major exporter, becoming the first ever to ship out more than 100 million tons of LNG this … Read more
At least two oil tankers have made their way to Venezuela in recent days and others are navigating towards the country, a sign of state-run PDVSA’s effort to expand floating storage and keep selling crude even as a U.S. blockade has reduced exports to a minimum. U.S. President Donald Trump this month announced a blockade … Read more
Commodities were pelted in 2025 by the whirlwind of tariffs and policies imposed by U.S. President Donald Trump, and while the storm may recede in 2026, the ripples will last some time. Trump’s efforts to remake global trade and his shifting geopolitical moves have boosted volatility in commodity markets, with prices being driven by daily … Read more
Takeaways by Bloomberg AI At least two vessels chartered by Chevron Corp. have successfully unloaded cargoes at US ports after picking up oil from Venezuela. Chevron has finished discharging a cargo from the vessel Searuby and is unloading ship Canopus Voyager, with another three Chevron ships sailing toward the US. The global energy market is … Read more
Venezuela started shutting wells in a region that holds the world’s largest deposits of oil in the face of a blockade by the Trump administration meant to financially squeeze the nation. Petroleos de Venezuela SA began shuttering wells in the Orinoco Belt on Dec. 28 as the state-run refiner ran out of storage space and … Read more
Summary European Union has agreed to phase out Russian fossil fuel imports Decline in imports follows closure of Ukrainian route TurkStream is the only remaining route (Reuters) – Russia’s pipeline gas exports to Europe sank by 44% in 2025 to their lowest since the mid-1970s, following the closure of the Ukrainian route and as the … Read more
With EV incentives no longer available, hybrid vehicle sales are gaining speed Takeaways by Bloomberg AI Hybrid vehicles are in high demand, with nearly one in six new cars predicted to be a hybrid next year, according to CarGurus Inc. The EV market is slowing in the US, with sales expected to plunge 30% in the … Read more
(Reuters) – Oil prices were little changed on Tuesday as investors took stock of dented hopes of a Russia-Ukraine peace deal and rising geopolitical tensions in the Middle East around Yemen. Brent crude futures for February delivery , which expire on Tuesday, were up 32 cents, or 0.52%, at $62.26 a barrel as of 1206 … Read more
HOUSTON, Dec. 29, 2025 (GLOBE NEWSWIRE) — Amplify Energy Corp. (NYSE: AMPY) (“Amplify,” the “Company,” “us,” or “our”) announced today that it closed the previously announced transaction to sell its interests in Oklahoma for a contract price of $92.5 million, subject to customary post-closing adjustments. With proceeds from its East Texas and Oklahoma divestitures, the … Read more
Frontera Energy’s Colombian unit has signed a prepayment and commercial agreement worth up to $120 million with a unit of U.S. oil major Chevron to supply crude oil over two years, the Canadian oil producer said on Monday. Under the deal, Frontera will receive an initial $80 million advance and supply a portion of its crude output … Read more
The Kremlin said on Sunday that Russian President Vladimir Putin and U.S. President Donald Trump do not support a European-Ukrainian push for a temporary ceasefire ahead of a settlement, and that Moscow thinks Kyiv needs to make a decision on Donbas. Kremlin foreign policy aide Yuri Ushakov said that a call between Putin and Trump … Read more
U.S. liquefied natural gas company Freeport LNG said all three trains at its LNG export plant in Texas experienced a trip due to an interruption of feed gas to the facility, according to a regulatory filing on Wednesday. “The plant operators managed the cooldown and restarts of train 1, train 2, and train 3 as … Read more
PG&E restores power to 11,000 San Francisco customers after equipment failure (Reuters) – PG&E Corp. crews have restored power to about 11,000 San Francisco customers affected by an outage caused by overhead equipment failure, the company said on Monday. The outage, which began on Sunday at 7:45 p.m. PST (1145 GMT) in San Francisco’s Richmond neighbourhood, had … Read more
By Yogi Schulz Information technology continues to develop rapidly, changing what’s possible. 2025 was no exception. Here are my Top 10 developments. Undoubtedly, there are multiple opportunities to apply these technologies more widely across your energy industry organization. 1. AI dominated every conversation In 2025, AI concepts, experimentation with generative AI, and speculation about future … Read more
The White House has ordered U.S. military forces to focus almost exclusively on enforcing the “quarantine” of Venezuelan oil for at least the next two months, a U.S. official told Reuters on Wednesday. “While military options still exist the focus is to first use economic pressure by enforcing sanctions to reach the outcome the … Read more
Summary Ukraine peace talks and Middle East tensions in focus US crude inventories expected to fall Distillate and gasoline stocks expected to rise Dec 29 (Reuters) – Oil prices rose by more than $1 on Monday as investors weighed talks between the U.S. and Ukrainian presidents on a possible deal to end the war in … Read more
Energy markets enter 2026 in a downbeat mood as geopolitical uncertainty clouds the outlook and increasing signs of swelling oil and gas supplies threaten to sink prices.This past year was a wild one for the oil and gas industry, punctuated by the 12-day Israel-Iran war in June, U.S. President Donald Trump’s trade wars, the intensified … Read more
By Allison Schrager Allison Schrager is a Bloomberg Opinion columnist covering economics. A senior fellow at the Manhattan Institute, she is author of “An Economist Walks Into a Brothel: And Other Unexpected Places to Understand Risk.” Takeaways by Bloomberg AI Consumers will have more money due to tax refunds and potential $2,000 checks to households. Businesses will … Read more
Summary Oil heading for largest annual decline since 2020 Global crude supply glut looms over investors Russia-Ukraine peace proposals in focus HOUSTON, Dec 26 (Reuters) – Oil prices settled more than 2% lower on Friday as investors weighed a looming global supply glut, while also keeping an eye on a potential Ukraine peace deal ahead … Read more
Repurposing military reactors for such civilian use, however, is unchartered territory Bloomberg News A Texas power developer is proposing to repurpose nuclear reactors from Navy warships to power the United States grid as the Trump administration pushes to secure massive amounts of energy for the artificial intelligence boom. HGP Intelligent Energy LLC filed an application to the Energy Department to redirect two … Read more
By Gavin Maguire LITTLETON, Colorado, Dec 23 (Reuters) – Like any industry, wind energy has had its good and bad years. But 2025 may be one of the worst: a toxic stew of major policy reversals, corporate upheaval and sub‑par generation in key markets. U.S. President Donald Trump’s policy U-turn on renewable energy likely ranks … Read more
By Lara Williams Lara Williams is a Bloomberg Opinion columnist covering climate change. Takeaways by Bloomberg AI The Paris Agreement aims to limit climate change to “well below 2C above pre-industrial levels” and pursue efforts to keep the increase close to 1.5C, but carbon emissions continue to grow. Many experts believe the 1.5C temperature target is … Read more
Summary Oil heading for largest annual decline since 2020 US targets Islamic State militants in Nigeria, no direct impact on oil infrastructure Venezuelan oil under US economic pressure (Reuters) – Oil prices were stable on Friday as investors weighed potential supply risks from developing geopolitical tensions in a thinly attended post-Christmas session, after the U.S. … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Tuesday. The oil and gas rig count, an early indicator of future output, rose by three to 545 in the week to December … Read more
A drone view shows rotor blades and other parts for the ongoing construction of the Revolution Wind offshore wind turbine farm, staged on the State Pier in New London, Connecticut, U.S., September 23, 2025. REUTERS/Brian Snyder/File Photo WASHINGTON, Dec 24 (Reuters) – Four Democratic governors wrote to U.S. Interior Secretary Doug Burgum on Wednesday to … Read more
By Robert Harvey CPC Blend exports drop to 1.14 million bpd from initially planned 1.7 million bpd Kazakhstan may have to curb output, given lack of alternative export routes, analyst says Global oil majors hold stakes in Kazakh oil industry MOSCOW/LONDON, Dec 24 (Reuters) – Kazakhstan’s exports of its flagship CPC Blend of oil will … Read more
Dec 24 (Reuters) – Northern Indiana Public Service Company on Wednesday said it has received a federal order requiring the continued operation of R.M. Schahfer generating station beyond its planned December 31, 2025, retirement date. The order directs the Indiana-based plant to remain open for 90 days from the date of the order, the firm … Read more
Clyde Russell LAUNCESTON, Australia, Dec 23 (Reuters) – Conventional wisdom in the crude oil market is that producers such as OPEC+ largely determine the price by altering output levels to achieve a desired outcome. That shibboleth was challenged in 2025 by China, which used its status as the world’s biggest oil importer to provide an effective price floor … Read more
Malaysian state-owned energy firm Petroliam Nasional said on Wednesday it would supply Chinese offshore oil and gas company CNOOC with 1 million metric tons per annum of liquefied natural gas (LNG). The agreement between Petronas LNG and CNOOC Gas and Power Singapore Trading & Marketing builds upon existing cooperation between the two companies, Petronas said in a … Read more
BP is nearing a sale of a majority stake in its Castrol lubricants unit to investment firm Stonepeak in a deal that values the entire division at $10 billion, including debt, the Wall Street Journal reported on Tuesday. As part of the deal, BP is set to receive roughly $6 billion in proceeds from the … Read more
Reuters) – Oil tanker loadings slowed on Monday in Venezuela, with most vessels carrying oil shipments only between local ports, sources and ship tracking data showed, following U.S. actions targeting two more ships and as Venezuelan state oil company PDVSA struggles to recover from a cyberattack. U.S. authorities said the U.S. Coast Guard this month … Read more
Summary Brent, WTI gain about 6% since last week’s lows Oil set for biggest annual decline since 2020 US economy grew faster than expected in the third quarter Weekly US crude, fuel stocks rose last week – API (Reuters) – Oil prices rose slightly for a sixth day on Wednesday, supported by robust U.S. economic … Read more
(Reuters) – The United States told the United Nations on Tuesday it will impose and enforce sanctions “to the maximum extent” to deprive Venezuelan President Nicolas Maduro of resources as Russia warned other Latin American countries could be next. U.S. President Donald Trump’s administration has for months waged a campaign of deadly strikes against suspected … Read more
Suspension affects Orsted, Avangrid, Dominion Energy, Equinor projects Pentagon raises concerns over radar interference from turbine blades, towers Trump campaigned for White House on promise to end offshore wind industry (Reuters) – The Trump administration suspended leases on Monday for five large offshore wind projects that are under construction off the U.S. East Coast over … Read more
(Reuters) – Venezuela’s state-run oil company PDVSA has started filling up tankers with crude and fuel oil it has in storage as inventories mount amid moves by the U.S. to seize Venezuela-linked ships, according to company documents and shipping data. The U.S. Coast Guard this month intercepted the Skipper and Centuries tankers in the Caribbean … Read more
* AI data center electricity demand revives peaker power plants * Peakers emit more pollution when they run than typical power plants * The power plants are often located in low-income, minority communities By Laila Kearney In Chicago’s working-class Pilsen neighborhood, a 60s-era oil-fired power plant rises up from an industrial lot behind Dvorak Park, … Read more
PALM BEACH, Florida, Dec 22 (Reuters) – U.S. President Donald Trump said on Monday the United States would maybe keep and maybe sell the oil it had seized off the coast of Venezuela in recent weeks, adding the United States would also keep the seized ships. “Maybe we will sell it, maybe we will keep … Read more
By Patricia Garip and Jennifer A Dlouhy The Bella 1 tanker in March. Photographer: Hakon Rimmereid/MarineTraffic The US is still in pursuit of a third oil tanker near Venezuela, according to a US official, as President Donald Trump intensifies an oil blockade on Nicolás Maduro’s government. The Bella 1 tanker, a Panamanian-flagged vessel sanctioned by … Read more
Summary U.S. might keep or sell seized Venezuelan oil, says President Trump Barclays expects oil surplus to shrink next year if Venezuelan exports fall (Reuters) – Oil prices were little changed on Tuesday as potential sales of Venezuelan crude seized by the United States were countered by heightened supply disruption fears after Ukrainian attacks on … Read more
Dec 22 (Reuters) – Alphabet (GOOGL.O) said on Monday it would buy clean energy developer Intersect for $4.75 billion in cash, plus assumed debt, as tech giants spend billions to expand the computing and power capacity necessary for developing artificial intelligence. Big Tech has ramped up investments in energy firms as U.S. power grids struggle … Read more
By Dorothy Neufeld | Graphics/Design Joyce Ma Key Takeaways Oil, coal, and natural gas were the leading sources of global energy demand in 2024. While coal demand is set to drop the most by 2050, solar and wind demand is forecast to surge. Fossil fuels powered 80% of global energy demand in 2024, with this … Read more
China’s foreign ministry on Monday said the United States’ seizure of another country’s ships was a serious violation of international law, after the U.S. intercepted a China-bound oil tanker off the Venezuelan coast. Venezuela has the right to develop relations with other countries, China’s foreign ministry spokesperson Lin Jian said at a daily press briefing, … Read more
Australia will make exporters of liquefied natural gas from the country’s east coast keep up to a quarter of their output for domestic use from 2027, under a scheme unveiled on Monday to curb price spikes and help fill a long-forecast supply gap. The centre-left government of Prime Minister Anthony Albanese said it would work … Read more
Summary Deal includes $2.7 billion cash, $500 million in shares Deal may boost Harbour’s output to 500 kboepd by decade’s end Harbour expects acquisition to enhance free cash flow from 2027 Dec 22 (Reuters) – Britain’s North Sea-focused Harbour Energy said on Monday it would buy deepwater oil and gas exploration and production company LLOG … Read more
HOUSTON, Dec 19 (Reuters) – The number of active rigs and hydraulic fracturing crews has fallen in North Dakota, according to the state’s Department of Mineral Resources on Friday. North Dakota currently has 27 active rigs, down from 28 in November, while seven hydraulic fracturing crews are operating in the state, down from 10 last … Read more
Summary US intercepts Venezuelan oil tanker, raising supply disruption fears Trump administration’s hardline approach sparked rebound in crude prices Crude benchmarks up about 1.8% LONDON, Dec 22 (Reuters) – Oil prices rose on Monday after the U.S. intercepted an oil tanker in international waters off the coast of Venezuela and tensions in Russia’s war against … Read more
Ron Bouss (Reuters) – Global oil markets faced multiple black swan events in 2025 – including the Israel-Iran war and Ukrainian strikes on Russian refiners – yet they were barely fazed. This calm may be the new normal in an era of energy abundance, even as the world becomes a more dangerous place. By any measure, 2025 was … Read more
The United States is interdicting and seizing a vessel off the coast of Venezuela in international waters, three U.S. officials told Reuters on Saturday, a move that comes just days after U.S. President Donald Trump announced a “blockade” of all sanctioned oil tankers entering and leaving Venezuela. This would mark the second time in recent … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row for the first time since August, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, … Read more
By Keira Wright, Ruth Liao, and Stephen Stapczynski Meg O’Neill | Photographer: Nicky Loh/Bloomberg The surprise exit of Woodside Energy Group Ltd. Chief Executive Officer Meg O’Neill leaves her successor with a dilemma: should the Australian company continue down the path she set of promoting massive liquefied natural gas projects when forecasts point to a … Read more
By Lucia Kassai The tanker Hyperion, sanctioned by the US for having shipped Russian oil, will likely be the first ship to test President Donald Trump’s naval blockade of Venezuela. The vessel recently arrived in Amuay, home to Venezuela’s largest refining complex, according to vessel movements tracked by Bloomberg. It loaded supplies in Murmansk, Russia, … Read more
(Reuters) – The U.S. Department of Energy said on Thursday it has signed agreements with 24 organizations, including tech giants such as Microsoft, Google and Nvidia, to advance the Genesis Mission. The mission is a national program aimed at using artificial intelligence to accelerate scientific research and strengthen U.S. energy and security capabilities. The department said … Read more
(Reuters) – The U.S. Army Corps of Engineers on Friday released a long-anticipated Environmental Impact Statement for the Dakota Access Pipeline (DAPL), recommending that operations of the oil pipeline continue with some conditions. The EIS, a document required by U.S. law to evaluate the environmental effects of major federal actions, is a win for DAPL … Read more
By Ron Bousso LONDON, Dec 19 (Reuters) – Oil prices slumped below $60 a barrel this week as investors try to make sense of U.S. President Donald Trump’s push to end the war in Ukraine and force out Venezuelan President Nicolas Maduro. Yet the real driver of prices in the months ahead is likely to … Read more
By Scott Disavino Summary Brent and WTI prices rise amid Venezuelan tanker blockade Russia-Ukraine peace talks impact oil market sentiment U.S. sanctions increase pressure on Venezuela’s oil exports (Reuters) – Oil prices edged up on possible disruptions from a U.S. blockade of Venezuelan tankers as the market waits for news about a possible Russia-Ukraine peace … Read more
U.S. President Donald Trump said he was leaving the possibility of war with Venezuela on the table, according to an interview with NBC News published on Friday. “I don’t rule it out, no,” he told NBC News in a phone interview. Trump also said there would be additional seizures of oil tankers near Venezuelan waters, … Read more
(Reuters) – U.S. Senator Ron Wyden has contacted seven maritime shipping companies as part of an inquiry into cartel-linked fuel smuggling between the United States and Mexico, asking the firms to explain their vetting procedures for ensuring their tankers aren’t used to transport illicit hydrocarbons, according to copies of the letters seen by Reuters. The … Read more
By Laila Kearney Capacity prices in PJM hit fresh record high PJM’s supply shortfall affects 13-state region, raising power bills Governors push for extended price limits Dec 17 (Reuters) – Power bills for about a fifth of Americans are expected to continue to rise after the largest U.S. grid operator, PJM Interconnection, reported fresh record-high … Read more
By Keira Wright and Ruth Liao Meg O’Neill’s rapid rise to the top of one of the world’s biggest fossil-fuel companies has been unencumbered by doubt. At a moment when oil executives are still being pressed to move away from hydrocarbons, she has a different argument: that the world is nowhere near done with them. … Read more
Energy Transfer Cites Focus on Capital Allocation Discipline DALLAS–(BUSINESS WIRE)–Energy Transfer LP (NYSE:ET) announced today that it is suspending development of the Lake Charles LNG project in order to focus on allocating capital to its significant backlog of natural gas pipeline infrastructure projects that Energy Transfer believes provides superior risk/return profiles. Energy Transfer management has determined … Read more
Summary Potential supply glut from OPEC+ and US weighs on prices Venezuela oil export operations continue despite US sanctions Analysts predict lower prices could curb supply, preventing price freefall (Reuters) – Oil prices were little changed on Friday and poised for a second straight weekly decline as a potential supply glut and prospects of a … Read more
By Emily Forgash and Mark Chediak US President Donald Trump hates wind power. His administration has made a concerted effort to thwart the industry. Trump issued a directive within hours of his return to the White House in January that froze new permitting for wind energy and ordered officials to consider terminating existing leases. But … Read more
By Yousef Saba Lukoil exits Ghasha project, hands ADNOC 10% stake Heavy demand from Asian lenders, including Chinese banks First gas production expected before decade’s end DUBAI, Dec 18 – Abu Dhabi National Oil Company has secured $11 billion in structured financing to monetise future gas production from its Hail and Ghasha development, the state … Read more
(Reuters) – Saudi Arabia’s crude oil exports hit their highest level in two and a half years in October, data from the Joint Organizations Data Initiative (JODI) showed on Thursday. Crude exports from the world’s largest oil exporter increased to 7.100 million barrels per day (bpd), higher than September’s 6.460 million bpd, and their highest … Read more
Japan Petroleum Exploration said on Thursday it will acquire Verdad Resources Intermediate Holdings LLC (VRIH), which owns tight oil and gas assets in the U.S. for $1.3 billion in its largest-ever deal. JAPEX will buy VRIH, which holds assets in Colorado and Wyoming, from Verdad Resources Feeder LLC using a mix of its own funds … Read more
Asia’s imports of U.S. crude oil, coal and liquefied natural gas are on track to decline this year despite President Donald Trump’s efforts to boost shipments as part of his trade and tariff policies. The decline in imports from the United States is largely driven by China, the world’s biggest buyer of commodities, which pulled … Read more
The surprise appointment of Meg O’Neill as BP’s first outsider CEO offers the bruised $90 billion British oil company three clear strategic choices for moving forward: build, buy or be bought. BP announced on Wednesday that CEO Murray Auchincloss would step down the following day and that O’Neill, current CEO of Australian-listed Woodside Energy, would … Read more
Oil and gas major BP has appointed Meg O’Neill, the head of Australia’s Woodside Energy, as its next CEO to lead its effort to boost profits and refocus on oil and gas after a detour into renewables. O’Neill, who will take over in April following the abrupt departure of Murray Auchincloss, will become BP’s first … Read more
By Bruno Venditti | Graphics/Design: Sam Parker Key Takeaways New Mexico doubled oil production from 2019 to 2024, reaching over 2M barrels/day. Texas remains the top oil-producing state with 5.7M barrels/day, leading the Permian Basin output. The U.S. is in the midst of a historic oil boom. For the past two years, the country has … Read more
By Ari Natter Oil production hit another record this year, climbing above 13.8 million barrels a day in September. Photographer: Robyn Beck/AFP/Getty Images The US is on pace to pump more oil this year than any other nation in history as President Donald Trump puts the federal government’s full weight behind his sweeping agenda to … Read more
The United States is preparing a further round of sanctions on Russia’s energy sector to increase the pressure on Moscow should President Vladimir Putin reject a peace deal with Ukraine, Bloomberg News reported on Wednesday, citing people familiar with the matter. The U.S. is considering options such as targeting vessels in Russia’s so-called shadow fleet … Read more
(Reuters) – U.S. crude stocks fell while gasoline and distillate inventories rose last week as refining activity climbed, the Energy Information Administration said on Wednesday. Crude inventories dropped by 1.3 million barrels to 424.4 million barrels in the week ended December 12, the EIA said, compared with analysts’ expectations in a Reuters poll for a … Read more
Summary US firms eye Canada’s Montney due to depleted US shale prospects Montney offers room to grow with comparatively untapped geology Rising interest in Canada’s oilpatch comes after a decade of reduced foreign investment (Reuters) – U.S. oil and gas producers in search of fresh drilling territory are looking to expand in Western Canada’s Montney … Read more
Summary US prepares more Russian energy sanctions if Moscow rejects peace deal, Bloomberg reports Venezuela’s PDVSA resumes loading after cyberattack, most exports on hold Trump announced blockade of tankers under sanctions on Tuesday, enforcement unclear EU targets 41 additional vessels in Russia’s shadow fleet (Reuters) – Oil prices steadied on Thursday as investors assessed the … Read more
(Reuters) – A U.S. judge on Wednesday blocked Michigan from enforcing a 2020 order to shut down Enbridge’s Line 5 oil pipeline running beneath a channel linking two of the Great Lakes, ruling that pipeline safety is a federal responsibility. The decision comes five years after Michigan Governor Gretchen Whitmer revoked an easement allowing Canadian … Read more
US forces intercept and seize a sanctioned oil tanker off the coast of Venezuela, in a video released by the US Department of Justice on Dec. 10.Source: US Department of Justice The US has ratcheted up pressure on the government of Venezuela with a series of measures designed to stifle the country’s vital oil exports. … Read more
(Reuters) – Venezuela may soon have to start closing some oil wells as it runs low on storage capacity following last week’s tanker seizure and U.S. plans to block other sanctioned vessels, Bloomberg News reported on Wednesday, citing people familiar with the situation The country’s main oil storage and tankers sitting at its terminals are … Read more
By Francois de Beaupuy, Nayla Razzouk, and Francine Lacqua TotalEnergies SE Chief Executive Officer Patrick Pouyanne said rising demand for oil will help to underpin prices, despite their recent slump on growing concerns about a global surplus. Oil is on track for a yearly loss, with supply set to exceed demand both this year and … Read more
(Reuters) – U.S. private equity giant Carlyle has hired Goldman Sachs to work on its bid for Lukoil assets, two sources familiar with the matter told Reuters on Wednesday, as the race for the sanctioned Russian oil firm’s overseas portfolio heats up. At least a dozen potential suitors have expressed interest in buying Lukoil assets, … Read more
LONDON–(BUSINESS WIRE)–MidOcean Energy (“MidOcean”), a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced the completion of its acquisition of a 20% interest in PETRONAS’ key entities in Canada. The transaction includes a 20% interest in the North Montney Upstream Joint Venture … Read more
(Reuters) – Mexican President Claudia Sheinbaum on Wednesday asked the United Nations to act in order to avoid bloodshed in Venezuela, as tensions escalate between the South American country and the United States. Sheinbaum said during her morning press conference that Mexico is against intervention and against foreign interference in Venezuela. “I call on the … Read more
Calgary, Alberta–(Newsfile Corp. – December 17, 2025) – Greenfire Resources Ltd. (NYSE: GFR) (TSX: GFR) (“Greenfire” or the “Company“) today announced preliminary results of its C$300 million rights offering, which expired at 4:00 p.m. (Calgary time) on December 16, 2025 (the “expiration date“). Upon closing of the rights offering, the Company expects to issue 55,147,058 common shares, … Read more
Summary Renewables, nuclear, and natural gas to reduce coal’s dominance by 2030 India’s coal use declined due to intense monsoons boosting hydro power US coal consumption rose with higher gas prices and policy support China consumes 30% more coal than the rest of the world combined (Reuters) – Global coal demand reached a record high … Read more
Oil sands could maintain current production rates for more than 140 years By Will Gibson Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Pipelines at a thermal in situ oil sands facility. Photo courtesy Alberta Energy Regulator Investor interest in Canadian oil producers, primarily in the Alberta oil sands, … Read more
Activist investment firm Kimmeridge Energy Management has submitted a $6 billion offer to buy Ascent Resources, the Financial Times reported on Tuesday. The bid is the latest challenge to Ascent’s private equity backer Energy & Minerals Group’s (EMG) efforts to sell a more than 30% stake in the company from one of its funds to … Read more
Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth will hold closed, classified briefings for all U.S. senators and representatives on Tuesday about the Trump administration’s strategy toward Venezuela. President Donald Trump’s objectives remain unclear to many lawmakers, even after 3-1/2 months, more than 20 deadly U.S. strikes on boats off the South … Read more
Summary Trump blockade on sanctioned tankers entering and leaving Venezuela Uncertainty around implementation of Trump’s blockade US crude stocks fell 9.3 million bbls last week: API (Reuters) – Oil prices rallied more than 2% on Wednesday after U.S. President Donald Trump ordered a complete blockade of all sanctioned oil tankers entering and leaving Venezuela, raising geopolitical tensions … Read more
LONDON, Dec 16 (Reuters) – Oil major Shell (SHEL.L) has taken a final investment decision on a waterflood project at its Kaikias field in the U.S. Gulf of Mexico, aiming to boost oil recovery and extend the life of its Ursa platform. The project is expected to add 60 million barrels of oil equivalent to … Read more
(Reuters) – Venezuela’s state-run company PDVSA is dealing with stuck oil cargoes, rising price discounts and demands from customers to change terms of spot contracts following the U.S. seizure of a ship carrying the OPEC country’s crude, traders and sources said. As Washington’s pressure on President Nicolas Maduro grows, the U.S. Coast Guard last week … Read more
Automaker is cancelling a planned electric F-Series truck and shifting production toward gas and hybrid vehicles By Keith Naughton and Gabrielle Coppola Ford Motor Co. will take $19.5 billion in charges tied to a sweeping overhaul of its electric vehicle business after struggling for years to make it profitable. The majority of the charges will … Read more
By Gavin Maguire LITTLETON, Colorado, Dec 16 (Reuters) – Global shipments of thermal coal – burned in power stations – have posted their first annual decline since 2020 on the back of lower coal-fired power generation in key Asian markets. Total seaborne exports of so-called steam coal are set to come in at about 945 … Read more
By Clyde Russell LAUNCESTON, Australia, Dec 16 (Reuters) – China’s flows of crude oil into storage probably jumped in November to the highest in six months, as a surge in imports overwhelmed steady refinery processing rates. China’s surplus of crude was about 1.88 million barrels per day (bpd) in November, almost three times the 690,000 … Read more
Dec 16 (Reuters) – France’s TotalEnergies (TTEF.PA) said on Tuesday it had signed a 21-year power supply deal with Alphabet’s Google (GOOGL.O), pledging to supply 1 terawatt hour of renewable energy to support its data centres in Malaysia. The French energy major said the power would be generated by the new Citra Energies solar plant … Read more
DENVER, Dec. 15, 2025 /PRNewswire/ – Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (“Ovintiv” or the “Company”) and a subsidiary of Pembina Pipeline Corporation (“Pembina”) (TSX: PPL; NYSE: PBA) today announced the signing of a 12-year agreement (the “Agreement”) for 0.5 million tonnes per annum (“mtpa”) of Pembina’s liquefaction capacity at the Cedar LNG facility (“Cedar LNG”). The Agreement enables … Read more
Oil and natural gas producer Ovintiv Inc on Monday announced a deal with Pembina Pipeline’s subsidiary for liquefaction capacity at the planned Cedar LNG facility. The agreement gives Ovintiv 0.5 mtpa of liquefaction and transportation capacity at Cedar LNG for 12 years. The U.S. LNG sector is witnessing a resurgence in commercial activity, driven by expectations of … Read more
The cost of shipping oil is likely to remain high in the first half of 2026 as the global fleet ages and a rising number of vessels are hit with Western sanctions, shipping sources say, though rates could be capped in the second half. In recent weeks, the cost of shipping oil has risen to … Read more
(Reuters) – A tanker carrying Russian naphtha for Venezuelan state oil company PDVSA and at least four supertankers due to pick up crude cargoes in Venezuela have made u-turns after the U.S. seized a vessel carrying Venezuelan crude, ship monitoring data showed on Monday. The U.S. Coast Guard last week intercepted and seized a very … Read more
Summary Russia-Ukraine peace talks raise hopes for easing sanctions Surge in Chinese buying from Venezuela, glut in floating storage limit market impact of US tanker seizure (Reuters) – Oil prices fell on Tuesday to below $60 a barrel – the lowest since May this year – as prospects for a Russia-Ukraine peace deal appeared to … Read more
Trump’s desire for US energy dominance could mean higher prices at home. By Naureen S Malik and Ruth Liao Can the Trump administration’s twin policy priorities of US “energy dominance” and affordability really coexist? We may be about to find out. Unleashing oil and gas production has been a key theme for President Donald Trump. … Read more
By Nathan Risser and Christopher Charleston A woman stands in a street as the snow falls in the Manhattan borough of New York on Dec. 14. Photographer: Charly Triballeau/AFP/Getty Images Four northeastern US states are under emergency transport orders after an outage at one of the largest underground heating fuel storage facilities in the region … Read more
(Reuters) – The volume of Venezuelan oil already headed to China before the U.S. seized a Venezuelan tanker last week, plus a glut of crude in storage and weak demand, will limit the near-term impact of the move in the Chinese market, traders and analysts said. Exports from the South American producer have fallen sharply … Read more
Tokyo Gas, Japan’s top city gas provider, plans to direct more than half of the 350 billion yen ($2.3 billion) it has earmarked for overseas investments over the next three years to the U.S. to drive growth, CEO Shinichi Sasayama said. In October, Tokyo Gas unveiled a plan to invest up to 1.3 trillion yen … Read more
The U.S. has demanded that the European Union exempt its oil and gas from obligations under the bloc’s methane emissions law on fuel imports until 2035, a U.S. government document seen by Reuters showed. Starting this year, the EU requires importers of oil and gas to Europe to monitor and report methane emissions associated with … Read more
By Jarrett Renshaw EPA still reviewing comments; no end-of-year decision expected Delay folds quotas into broader oil-agriculture policy talks Uncertainty complicates contracts, hedging, and investment decisions Dec 12 (Reuters) – The Trump administration is not expected to finalize 2026 biofuel-blending quotas before the end of this year, according to three sources familiar with the situation, … Read more
Summary Brent, WTI steady after 4% losses last week Venezuelan oil exports down sharply since US seizure of a tanker Surplus outlook and potential Ukraine peace deal weigh (Reuters) – Oil prices held steady on Monday as investors balanced supply disruptions linked to escalating U.S.-Venezuelan tensions with oversupply concerns and the impact of a potential … Read more
The United States’ tightening grip on Venezuela’s oil exports could strangle the country’s crude output and cut off President Nicolas Maduro’s main economic lifeline, but it will have limited impact on the global market. The U.S. Coast Guard last week seized in mid-ocean a supertanker carrying Venezuelan crude to Cuba, marking a step-up in Washington’s … Read more
WASHINGTON, Dec 12 (Reuters) – The U.S. House of Representatives on Friday voted 213-184 to pass a bill that aims to speed up federal permitting of interstate natural gas pipelines by designating the Federal Energy Regulatory Commission as the lead agency in the process. The Improving Interagency Coordination for Pipeline Reviews Act gives the agency … Read more
Summary Brent and WTI down more than 4% this week Supply glut remains main market focus US plans to seize more tankers off Venezuela, sources say (Reuters) – Oil prices closed lower on Friday, marking a 4% weekly decline as a supply glut and a potential Russia-Ukraine peace deal outweighed worries about any impact from … Read more
By Marianna Parraga Only Chevron-chartered tankers sailing into international waters About 11 million barrels stuck in vessels in Venezuela Some cargoes are onboard Washington-sanctioned ships HOUSTON, Dec 12 (Reuters) – Venezuela’s oil exports have fallen sharply since the United States seized a tanker earlier this week and imposed fresh sanctions on shipping companies and vessels … Read more
US forces intercept and seize a sanctioned oil tanker off the coast of Venezuela, in a video released by the US Department of Justice on Dec. 10. Source: US Department of Justice On Dec. 10, US forces intercepted and seized an oil tanker off the coast of Venezuela that Attorney General Pam Bondi said is … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by one to 548 in … Read more
KYIV, Dec 12 (Reuters) – Ukrainian drones struck two Russian oil rigs in the Caspian Sea, an official in the Security Service of Ukraine (SBU) said on Friday. The source said SBU drones hit the Filanovsky and Korchagin oil rigs, which both belong to Russia’s Lukoil (LKOH.MM). The Filanovsky rig – part of Russia’s largest … Read more
Hauling petroleum around the world in ships is no longer a humdrum business. By Julian Lee The cold war on sanctioned oil is heating up. Drone strikes and boarding parties have raised the risk of shipping blacklisted barrels. On Wednesday, the US seized a tanker hauling as much as a two million barrels of Venezuelan … Read more
New Fortress Energy went all in on a concept it called Fast LNG. Slowly that commitment has become the company’s undoing. By Ruth Liao, Liam Vaughan, and Jim Wyss For 20 minutes, Wes Edens barely pauses as he talks about the sunny prospects for his beleaguered liquefied natural gas company, New Fortress Energy. Dressed in … Read more
By Yawen Chen (Reuters Breakingviews) – The U.S. seizure of a sanctioned tanker has sharpened President Donald Trump’s standoff with Venezuela’s Nicolás Maduro. It does not, however, make the country’s 300 billion barrels of theoretical oil reserves – the world’s largest – any easier to turn into usable supply. Even if Washington’s pressure campaign leads … Read more
Alberta oilsands more resilient to lower prices than U.S. rivals who are cutting budgets to cope with below US$60 crude By Meghan Potkins Originally published in the Financial Post – This Story and More by Meghan Potkins Here Canada’s largest oilpatch spenders have begun unveiling their 2026 budgets, with early signs showing oilsands spending … Read more
Brent crude oil is expected to average $65 per barrel next year, Barclays said on Thursday, while projecting a supply surplus for the year. “We expect a 1.9 million barrels per day surplus next year, but inventories remain low and builds continue to surprise to the downside,” Barclays said in a note. It added that … Read more
By Bruno Venditti | Graphics/Design: Anna Diederichs Key Takeaways Saudi Arabia leads with nearly $1 million in natural resources per person, far ahead of other prominent resource-rich nations. Large populations push China and the U.S. to the bottom of the top 10 despite their large total reserves. How many dollars of natural resource wealth do the … Read more
(Reuters) – Venture Global submitted its response late on Tuesday to a legal challenge from Shell over the oil major’s defeat in an arbitration case concerning liquefied natural gas cargoes, rejecting allegations of fraud and accusing Shell of breaching arbitration confidentiality. The legal documents submitted in New York Supreme Court mark the latest development in … Read more
(Reuters) – BP, Chevron and Shell were among the top bidders on Wednesday at the U.S. government’s first sale of oil and gas drilling rights in the Gulf of Mexico since 2023. The auction, which ended with $279.4 million in high bids, was the first of 30 mandated by U.S. President Donald Trump’s tax cut … Read more
Summary Brent and WTI down more than 4% this week Supply glut remains main market focus US plans to seize more tankers off Venezuela coast, sources say (Reuters) – Oil prices inched lower on Friday and were on track for a weekly decline as investors focussed on a supply glut and potential Russia-Ukraine peace deal, … Read more
(Reuters) – SLB said on Thursday that it was partnering with Shell to develop digital and artificial intelligence tools aimed at improving performance and efficiency across upstream operations. Shell and SLB will develop agentic AI-powered solutions designed to enhance the capabilities of technical experts and decision makers for Shell as well as the wider energy … Read more
Oil production in the Permian basin is poised to peak in December, a watershed moment for the U.S. shale boom that upended the global energy market over the past 15 years. Yet drilling innovations mean output in America’s most prolific oil patch will hold steady for years to come. The Permian basin, which straddles West … Read more
(Reuters) – The United States imposed new sanctions on Thursday on three nephews of Venezuelan President Nicolas Maduro and six ships transporting the nation’s oil, Axios reported. The measures will be announced by Treasury Secretary Scott Bessent, it said. President Donald Trump said on Wednesday that the U.S. had seized a sanctioned oil tanker off … Read more
(Reuters) – The U.S. is preparing to intercept more ships transporting Venezuelan oil following the seizure of a tanker this week, as it increases pressure on Venezuelan President Nicolas Maduro, six sources familiar with the matter said on Thursday. The seizure was the first interdiction of an oil cargo or tanker from Venezuela, which has … Read more
(Reuters) – Oil exports of the Caspian Pipeline Consortium (CPC), which ships oil from Kazakhstan via a pipeline and subsequently a Russian Black Sea terminal, declined by 12% in November from October, two industry sources said on Thursday. CPC, which handles around 80% of Kazakhstan’s oil exports, was attacked by a Ukrainian drone on November … Read more
A trader works as a screen displays the trading information for BlackRock on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 14, 2022. REUTERS/Brendan McDermid/File Photo (Reuters) – BlackRock has sold a 7.1% stake in Spanish gas utility Naturgy for around 1.7 billion euros ($1.99 billion) through an accelerated … Read more
(Reuters) – World oil supply will match demand closely in 2026, OPEC data published on Thursday indicated, an outlook contrasting with projections from the International Energy Agency and others of a huge glut. The OPEC+ group comprising the Organization of the Petroleum Exporting Countries, Russia and other allies plans to pause production hikes in the … Read more
Summary Move is first known tanker seizure since US build-up began Signals new effort to go after Venezuela’s main revenue source Impact on global oil supply unclear (Reuters) – The U.S. has seized a sanctioned oil tanker off the coast of Venezuela, President Donald Trump said on Wednesday, a move that sent oil prices higher and … Read more
The International Energy Agency lifted its 2026 global oil demand growth forecasts while trimming its supply growth predictions in its latest monthly oil market report on Thursday, implying a slightly narrower surplus for the market next year. The Paris-based agency now expects global oil supply to exceed demand by 3.84 million barrels per day, compared … Read more
Canada’s Cenovus Energy on Thursday forecast higher crude oil production for 2026 as major oil sands projects near completion. The company expects upstream production between 945,000 and 985,000 barrels of oil equivalent per day (boepd) for 2026, surpassing its 2025 forecast range of 805,000 to 845,000 boepd.The producer said it would allocate C$850 million in spending … Read more
Summary Witkoff visit helped resolve misunderstandings, Russia says US seizes sanctioned oil tanker off Venezuela coast IEA trims its 2026 market surplus forecast (Reuters) – Oil prices eased on Thursday as investors shifted focus back to Russia-Ukraine peace talks and monitored potential fallout from a U.S. seizure of a sanctioned oil tanker off the coast … Read more
(Reuters) – U.S. oil production is expected to hit a larger record this year than previously expected, the Energy Information Administration said on Tuesday, as expectations mount of a global supply glut. The agency raised its forecast for 2025 oil production by 20,000 to average 13.61 million barrels per day in 2025, the highest on … Read more
U.S. President Donald Trump’s plan for peace in Ukraine includes proposals to restore Russian energy flows to Europe, major U.S. investment in Russian rare earths and energy, and tapping frozen Russian sovereign assets, the Wall Street Journal said. The newspaper said the plans were detailed in appendices to peace proposals handed to European counterparts over … Read more
(Reuters) – Oil buyers in Asia are demanding deep discounts on Venezuelan crude due to a flood of sanctioned oil from Russia and Iran on offer and to heightened risk of loading in the South American country as the U.S. boosts its military presence in the Caribbean, traders and other sources said. Venezuela has managed … Read more
(Reuters) – U.S. pipeline operator Energy Transfer has secured enough agreements to sell liquefied natural gas to make a final investment decision on its Lake Charles LNG project early next year, an executive said on Wednesday at the Reuters Energy Live conference in Houston. Energy Transfer has been developing the LNG export facility in Louisiana, … Read more
By Liz Hampton (Reuters) – HOUSTON, Dec 10 – U.S. crude inventories fell, while gasoline and distillates stockpiles rose last week amid strong refining activity, the Energy Information Administration said on Wednesday. Crude inventories fell by 1.8 million barrels to 425.7 million barrels in the week ended December 5, the EIA said in its weekly … Read more
(Reuters) – U.S. sanctions against Russian oil majors Lukoil and Rosneft could trigger a structural reshaping of the global oil sector over the next year, reversing Moscow’s decades-long efforts to expand its international clout through energy investment. When President Donald Trump in October slapped sanctions on Rosneft and Lukoil, which together account directly or indirectly … Read more
By Yagnoseni Das Dec 10 (Reuters) – Shares of GE Vernova (GEV.N) surged to a record high on Wednesday after the power-equipment maker forecast higher revenue for 2026 and raised its buyback program by $4 billion. Surging electricity demand from artificial intelligence and other data-heavy industries is driving strong growth across the company’s grid and … Read more
Ron Bousso (Reuters) – Venezuela is likely to retain its seat in OPEC even if U.S. President Donald Trump successfully forces a change of government in the oil-rich country, as the U.S. is seeking to bolster its alliance with the cartel even as it expands its own sphere of influence. The U.S. has recently been increasing pressure on Venezuelan … Read more
By Reuters (Reuters) – The Trump administration will hold the government’s first sale of oil and gas drilling rights in the Gulf of Mexico since 2023 on Wednesday, a key test of industry appetite for offshore acreage at a time when the United States is seeking to unleash more domestic fossil fuel production. The auction is the first … Read more
Suspension of clean energy regulations will make it possible to build new gas-fired power plants to support large data centres By Robert Tuttle Capital Power Corp.’s top executive says it will become possible to build new gas-fired power plants to support large data centres in Alberta after the Canadian government relaxed environmental standards for electricity. … Read more
Summary Power demand seen rising 32% by 2030, driven by AI expansion Federal delays threaten solar and wind projects on public and private lands Renewable plants are quicker to bring online, but Trump says less reliable Dec 10 (Reuters) – U.S. President Donald Trump’s freeze on approvals for major onshore wind and solar projects is … Read more
Summary Market seeks cues from peace talks and Fed rate decision Fed expected to cut interest rates by 25 bps on Wednesday Russian oil supply risks offset oversupply concerns (Reuters) – Oil prices steadied on Wednesday as investors watched for progress in Russia-Ukraine peace talks and awaited a decision on U.S. interest rates. After declines … Read more
By Souhail Karam Illustration of Nador West Med port in Morocco. Source: Marsa Maroc Morocco is getting closer to creating an almost $1 billion liquefied natural gas hub at a new deep-sea port on its Mediterranean coast, as it plans to boost imports to curb the use of dirtier fuels. The nation this week issued … Read more
(Reuters) – U.S. natural gas output and demand will both rise to record highs in 2025, the U.S. Energy Information Administration said in its Short-Term Energy Outlook on Tuesday. EIA projected dry gas production will rise from 103.2 billion cubic feet per day in 2024 to 107.7 bcfd in 2025 and 109.1 bcfd in 2026. … Read more
(Reuters) – Chevron CEO Mike Wirth said on Tuesday he is in discussions with the board of directors about when he will step down from the U.S. oil producer. “I’ve been doing this for eight years, and as soon as we’ve got the next person ready to go, my job is to get out of … Read more
(Reuters) – U.S. natural gas futures dropped about 7% for the second straight day to a one-week low on Tuesday, on more moderate two-week forecasts for weather and demand, near-record output, ample amounts of gas in storage and lower prices around the world. Front-month gas futures for January delivery on the New York Mercantile Exchange … Read more
(Reuters) – U.S. power consumption will hit record highs in 2025 and 2026, the Energy Information Administration said in its short-term energy outlook on Tuesday. The EIA projected power demand will rise to 4,199 billion kilowatt-hours in 2025 and 4,267 billion kWh in 2026, up from a record 4,110 billion kWh in 2024. The demand … Read more
AUSTIN, Texas (Dec. 9, 2025) Enverus, the leading energy SaaS and analytics platform, today announced the appointment of Matt Johnson as its new president and Chief Revenue Officer (CRO), effective December 8, 2025. Johnson brings more than two decades of experience in enterprise software leadership, most recently serving as president of Mitratech, where he led … Read more
Australia is set to issue a gas market review that could curb exports of liquefied natural gas from its east coast, where three operators led by firms such as Shell and Santos send cargoes to Asia and beyond. The review, which industry watchers expect Canberra to release as soon as this week, could include a policy … Read more
Increases of $5 billion in earnings and cash flow growth at constant prices and margins vs. prior plan with no capital spending increase1 Cumulative structural cost savings plan increased by $2 billion, now $20 billion vs. 2019 All 2030 corporate GHG emissions intensity plans now expected to be achieved in 2026 SPRING, Texas–(BUSINESS WIRE)–ExxonMobil today … Read more
Gavin Maguire (Reuters) – For the first time, Texas’ main power system looks set to generate more power from solar farms than coal plants during a calendar year in 2025, marking a key new energy transition milestone for the largest power network in the U.S. The Electric Reliability Council of Texas (ERCOT) generated 2.64 million … Read more
(Reuters) – The U.S. solar industry installed 11.7 gigawatts of new solar capacity in the third quarter, a jump of 49% sequentially, a study by the Solar Energy Industries Association and Wood Mackenzie showed on Tuesday. The report said solar accounted for 58% of all new electricity-generating capacity added to the U.S. grid through the … Read more
Summary Strathcona plans to increase production to 300,000 bpd by 2035 Company is one of North America’s fastest-growing oil producers Waterous known for outspoken style (Reuters) – Canadian banker-turned-oil-tycoon Adam Waterous, an industry outsider who lives in a Rocky Mountain tourist town, not energy hub Calgary, has a plan to cement his company’s status as … Read more
By Mark Chediak and Ari Natter President Donald Trump’s executive order directing government agencies to halt approving new wind energy projects was ruled illegal by a federal judge. The ruling Monday sided with more than a dozen states and a New York clean energy group that had challenged the executive order that essentially froze US … Read more
Summary Prices likely to hover in tight range near-term, analysts say Russia-Ukraine peace talks still in progress Investors pricing in high possibility of rate cut at Fed meeting (Reuters) – Oil prices steadied on Tuesday after falling 2% in the previous session, with investors keeping a close eye on peace talks to end Russia’s war … Read more
(Reuters) – Exxon Mobil is targeting $25 billion in earnings growth from 2024 to 2030 and will increase oil and gas production, the top U.S. oil producer said on Tuesday as it leans on profitable assets in Guyana and the Permian Basin. The outlook represents a $5 billion increase from its previous plan, although Exxon … Read more
Dec 8 (Reuters) – NextEra Energy (NEE.N) on Monday raised its adjusted profit forecast for the current-year as well as 2026, as the utility benefits from a surge in power demand driven by data centers. This move comes amid increased power demand driven by data centers strains grids across the country and as a wave … Read more
(Reuters) – Kazakhstan’s Caspian Pipeline Consortium, which accounts for 1% of global crude supply, will not return to full export capacity until at least December 11 after a Ukrainian drone attack damaged a key part of its terminal, two industry sources told Reuters. The CPC terminal, which handles around 80% of Kazakhstan’s oil exports, was … Read more
Calgary, Canada – October 2025 . Microwatt, a trusted leader in industrial safety solutions across Canada and the USA, is proud to announce that the Sorama CAM iV64Ex is now officially ATEX and IECEx certified by DEKRA. This certification confirms safe operation in explosive industrial environments, providing operators with confidence when conducting inspections in high-risk … Read more
The G7’s proposed plan to bar tankers from hauling Russian oil ups the ante in the West’s economic stand-off with Moscow, but the ultimate bite hinges on whether governments will ratchet up punishments on those skirting sanctions. And with Russian President Vladimir Putin working tirelessly to strengthen Moscow’s own alliances, including India and China, the … Read more
Poland is aiming to become the main entry point for global LNG into Central and Eastern Europe as Europe moves away from Russian gas The country is considering new liquefied natural gas infrastructure, including a potential new floating LNG import terminal on the Baltic Sea, to transform itself into a regional gateway. Poland’s central position … Read more
Canadians support agreement between Alberta and Ottawa and the major economic opportunities it could unlock for the benefit of all By Danielle Smith Original: financialpost.com/news/economy/danielle-smith-canada-first-step-becoming-energy-superpower If Canada wants to lead global energy security efforts, build out sovereign AI infrastructure, increase funding to social programs and national defence and expand trade to new markets, we must … Read more
Only the fast and the competitive will prosper in changing times. By Nelson Bennett WUDONG, a liquefied natural gas (LNG) tanker, fills up at an LNG Canada facility, in an aerial view, in Kitimat, B.C., on Thursday, November 13, 2025. THE CANADIAN PRESS/Ethan Cairns By Resource Works More News and Views From Resource Works Here … Read more
Summary 84% chance of a quarter-point Fed cut, LSEG data shows G7, EU mull Russian oil maritime services ban, sources say Progress on Ukraine peace talks remains slow (Reuters) – Oil prices declined on Monday as investors monitored ongoing talks to end the war in Ukraine ahead of an expected U.S. Federal Reserve interest rate cut this week. Brent … Read more
Antero to Buy Gas Production Assets From HG for $2.8 Billion Antero Resources Corp. and its pipeline affiliate agreed to buy natural gas production and pipeline assets from privately-held HG Energy II LLC for a combined $3.9 billion in cash, expanding its reserves of the fuel just as prices are rebounding. Antero Resources will pay $2.8 … Read more
(Reuters) – NextEra Energy said on Monday it has expanded its partnership with Google Cloud to scale up data center capacity by multiple gigawatts and boost energy infrastructure across the U.S. Shares of the company were up 2.3% in premarket trading. The deal comes as U.S. electricity demand grows due to rapid AI adoption, prompting cloud … Read more
(Reuters) – U.S. energy firms this week added drilling rigs for the fourth time in five weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by five to 549 in the week to December 5, its highest … Read more
By Scott Disavino US central bank expected to cut rates next week Russia-Ukraine talks stall, affecting oil supply outlook OPEC+ production steady, geopolitical tensions influence prices NEW YORK, Dec 5 (Reuters) – Oil prices edged up nearly 1% to a two-week high on Friday on increasing expectations the U.S. Federal Reserve will cut interest rates … Read more
The Australian unit of U.S. oil giant Chevron said on Friday that the partners of the Gorgon Joint Venture have approved the A$3 billion ($1.98 billion) Gorgon Stage 3 development off Western Australia’s northwest coast. The development will be used as backfill for the existing LNG export concern and will link the offshore Geryon and Eurytion … Read more
Congressional lawmakers on Thursday voted to repeal a Biden-era policy that limited the amount of land in an Alaska wildlife refuge that could be leased for oil and gas development. The U.S. Senate voted 49-45 to approve a resolution that revokes the Interior Department’s 2024 rule governing energy development on the 1.56-million-acre Coastal Plain of … Read more
A Canadian pipeline boss led a new report advising the Trump administration on how to more quickly build new oil and gas infrastructure in the United States amid a push north of the border to do the same.
U.S. Energy Secretary Chris Wright requested …
(Reuters) – U.S. natural gas futures edged up about 1% to a 35-month high on near-record flows of gas to liquefied natural gas (LNG) export plants and as extreme cold boosted heating demand and cash prices in several regions to their highest since last winter. Limiting Thursday’s price increase for most of the trading day … Read more
(Reuters) – Oil prices were steady on Friday, supported by stalled Ukraine peace talks, though gains were offset by expectations of a supply glut. Brent crude was down 7 cents, or 0.1%, to $63.19 per barrel by 1255 GMT. U.S. West Texas Intermediate dipped 10 cents, or 0.2%, to $59.57 a barrel. For the week, … Read more
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(Reuters) – Glenfarne’s Alaska LNG unit said on Thursday it finalized an agreement to supply 1 million tonnes per annum of liquefied natural gas to South Korean trading firm POSCO International for 20 years from its planned export project. This follows a preliminary agreement signed in September. Global demand for the superchilled fuel has surged … Read more
(Reuters) – Kazakhstan’s oil and gas condensate production declined by 6% in the first two days of December, an industry source said on Thursday, following a Ukrainian drone attack on the Caspian Pipeline Consortium’s (CPC) Black Sea loading facility. The CPC pipeline, which carries over 80% of Kazakhstan’s oil exports and handles more than 1% … Read more
Soaring U.S. natural gas prices are eroding profit margins for the nation’s LNG producers, a trend that could deepen in the coming years, forcing exports to drop as global competition heats up. U.S. benchmark Henry Hub gas prices spiked on Wednesday to their highest level in three years at over $5 per million … Read more
Summary U.S. crude stocks rise vs expected draw Peace talks on Russia-Ukraine stall (Reuters) – Oil prices were steady on Thursday, with the market focused on Ukraine’s attacks on Russian oil assets, while stalled peace talks tempered expectations of a deal restoring Russian oil flows. Brent crude rose 24 cents, or 0.4%, to $62.91 at … Read more
HOUSTON–(BUSINESS WIRE)–Chevron Corporation (NYSE: CVX) today announced an organic capital expenditure range of $18 to $19 billion for consolidated subsidiaries (capex) for 2026, at the low-end of the long-term guidance range of $18 to $21 billion. Affiliate capital expenditure (affiliate capex) is expected to be $1.3 to $1.7 billion for 2026. “Our 2026 capital program focuses … Read more
Heavy Western Canadian Select fell to US$13 below West Texas Intermediate on Tuesday By Robert Tuttle Canadian crude prices have fallen to their weakest relative to the U.S. benchmark since March as surging production from Alberta meets an already well-supplied world market. Heavy Western Canadian Select, traded in Alberta for January, fell to US$13 below … Read more
(Reuters) – HOUSTON, Dec 3 – U.S. crude and gasoline stocks rose while distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 574,000 barrels to 427.5 million barrels in the week ended November 28, the EIA said, compared with analysts’ expectations in a Reuters poll for an 821,000-barrel … Read more
(Reuters) – Enbridge on Wednesday forecast higher core profit for 2026, as the Canadian pipeline operator expects to benefit from strong demand and new projects entering service. The company projected an adjusted core profit of C$20.2 billion ($14.49 billion) to C$20.8 billion, compared with expectations of between C$19.4 billion and C$20 billion for this year. … Read more
(Reuters) – U.S. natural gas futures climbed about 3% on Wednesday to a 35-month high, on record flows to liquefied natural gas (LNG) export plants and forecasts for colder weather and higher demand over the next two weeks than previously expected. Limiting gains were record output, ample amounts of gas in storage and lower gas … Read more
Chevron said on Wednesday that capital expenditure for 2026 will be between $18 billion and $19 billion as the oil major focuses on production in the U.S. and investments connected to a recently-acquired oil stake in Guyana. The range is at the low-end of previous guidance that put annual investment between $18 billion and … Read more
By Ewa Krukowska and Stephen Stapczynski The European Union has reached a deal to phase out Russian gas faster than originally planned, a move that aims to finally sever ties between the bloc and its once-primary energy supplier. In the aftermath of the invasion of Ukraine, traders and energy companies have closely monitored the EU’s … Read more
(Reuters) – Venezuela’s oil exports rose slightly to some 921,000 barrels per day (bpd) in November, the third-highest monthly average so far this year, as the country used more diluents to produce exportable grades, according to shipping data and documents. The OPEC producer is under increasing political pressure from the U.S., which has struck a … Read more
(Reuters) – U.S. crude oil imports from Mexico fell by 431,000 barrels per day (bpd) to a weekly record low of 131,000 bpd in the week ended November 28, according to data from the U.S. Energy Information Administration’s (EIA) Petroleum Supply Report going back to 2010. That was lower than the prior all-time low for … Read more
It has been over a month since the head of Pemex made a plea for partners to help Mexico’s ailing state oil company on projects needed to boost dwindling production, but national and international companies have not yet bitten. “We’re open,” Victor Rodriguez told the assembled executives on October 23, at an energy event in … Read more
By Elena Mazneva and Jonathan Gilbert Argentina has secured its first agreement for long-term sales of liquefied natural gas, a key step in its bid to become a global supplier of the fuel as drilling ramps up in its Vaca Muerta shale patch. A consortium of natural gas producers led by Pan American Energy Group, … Read more
(Reuters) – The U.S. Energy Information Administration published its weekly petroleum status report more than half an hour later than expected on Wednesday due to technical issues, although some traders got access to the data earlier than others. Oil traders closely watch the weekly EIA report as it includes the U.S. government’s official update on … Read more
(Reuters) – Oil prices climbed more than 1% on Wednesday after Russia said talks with U.S. officials in Moscow failed to reach a compromise on a potential Ukraine peace deal that could have eased sanctions on its oil sector. Brent crude gained 78 cents, or 1.3%, to $63.23 at 1010 GMT, while U.S. West Texas … Read more
By Timothy Gardner Dec 2 (Reuters) – The U.S. Department of Energy said on Tuesday it will provide up to $800 million to support development of small modular reactors by the Tennessee Valley Authority and private company Holtec. The Trump administration and nuclear companies believe SMRs will help supply electricity to the U.S. where power … Read more
By Ari Natter and Josh Saul The US is looking to tap the nation’s network of large industrial diesel generators used at data centers, big box stores and elsewhere to help curb rising electricity costs and support the surge in power demand from artificial intelligence, according to Energy Secretary Chris Wright. Such a move could … Read more
Report reveals congestion risks, infrastructure growth, and forecasts for North American energy markets AUSTIN, Texas (Dec. 2, 2025) Enverus, the leading energy SaaS and analytics platform, is releasing its 2025 Winter Power Market Outlook, providing actionable insights for stakeholders across North America’s major power markets. The report forecasts significant infrastructure growth in solar and battery energy … Read more
By Alex Lawler, Ahmad Ghaddar and Olesya Astakhova Consultants to be appointed to carry out capacity assessments Saudi minister says OPEC+ meeting was one of most successful in his career OPEC+ meeting on Sunday agreed a new maximum production capacity mechanism LONDON/MOSCOW, Dec 2 (Reuters) – OPEC+ members will undergo an annual assessment of their … Read more
By Ahmed Rasheed and Aref Mohammed Lukoil seeks to sell assets due to U.S. sanctions West Qurna 2 is Lukoil’s largest foreign asset Exxon preferred by Iraq for West Qurna 2 takeover BAGHDAD, Dec 2 (Reuters) – Exxon Mobil (XOM.N) has approached the Iraqi oil ministry to express its interest in buying Russian firm Lukoil’s … Read more
Venezuela’s President Nicolas Maduro is running out of options to step down and leave his country under U.S.-guaranteed safe passage, following a short call with U.S. President Donald Trump last month where Trump refused a series of requests from the Venezuelan leader, according to four sources briefed on the call. The call, on November 21, … Read more
Asia’s imports of liquefied natural gas flatlined in November, putting the top-buying region of the super-chilled fuel on track to record its first annual decline in three years. Much of the blame for the soft outcome can be laid at the door of China, which may lose its status as the world’s top LNG importer … Read more
(Reuters) – The global boom in data centers as companies increasingly outsource information storage and ramp up use of energy-intensive artificial intelligence is creating a key challenge for the industry – how to keep cool. An outage at the world’s biggest exchange operator CME Group from late Thursday that halted trade on its popular currency platform and … Read more
Oil prices have been falling as the market faces the prospect of a growing surplus. This year is set to culminate in the first major glut since 2020. The International Energy Agency forecast in November that global supply will outweigh demand by 2.4 million barrels a day, and expects the gap to expand to a … Read more
(Reuters) – Changes OPEC+ is making to its oil production quota system will likely spark a wave of upstream investments among members, particularly in low-cost Gulf producers, diminishing concerns of long-term supply shortages. The Organization of the Petroleum Exporting Countries and other major producing nations, including Russia and Kazakhstan, collectively known as OPEC+, approved on Sunday a new … Read more
(Reuters) – U.S. liquefied natural gas exports hit an all-time monthly high in November for the second straight month, driven by cooler weather and robust output from the country’s two largest producers, preliminary data from financial firm LSEG showed on Monday. The U.S., the world’s top LNG exporter, shipped 10.9 million metric tonnes last month, … Read more
Summary Markets weigh risk from Ukraine attacks on Russian facilities Caution emerges over US-Venezuela situation Decline in India’s Russian oil imports may be brief: Kremlin spokesperson LONDON, Dec 2 (Reuters) – Oil prices held firm on Tuesday as traders weighed up risks from Ukrainian drone strikes on Russian energy sites and mounting U.S.-Venezuela tensions. Brent … Read more
By Marianna Parraga Sale, expected to close in 2026, needs OFAC approval Citgo’s refineries provide stable earnings throughout the year Amber expected to shake up Citgo’s board Some contractors might become permanent employees after deal HOUSTON, Dec 1 (Reuters) – Elliott Investment Management’s affiliate Amber Energy plans to keep Citgo Petroleum’s refineries, terminals and other … Read more
By Laila Kearney Dec 1 (Reuters) – The U.S. Midwest grid operator will fast-track reviews of 15 more power projects to accelerate the addition of electricity supply, the Midcontinent Independent System Operator said on Monday, as part of a program facing legal challenges from consumer and environmental groups. Some of the country’s biggest regional grids … Read more
By Erwin Seba Brent, WTI rise more than 1% Ukraine drone attacks hit tankers carrying Russian oil HOUSTON, Dec 1 (Reuters) – Oil prices rose more than 1% on Monday following drone attacks by Ukraine, the closure of Venezuelan airspace by the United States, and OPEC’s decision to leave output levels unchanged in the first … Read more
Canadian Solar, was the world’s seventh-biggest producer of solar panels last year A major solar panel manufacturer is transferring the assets of its Chinese unit to Canadian ownership, to safeguard sales into the U.S. as Washington steps up scrutiny of imports from the Asian nation. CSI Solar Co., based in Suzhou, will sell 75.1 per … Read more
By Olga Tanas Harbour Energy Plc, one of the largest independent oil and gas firms in the UK, expects to cut another 100 jobs after the government decided to keep a windfall tax on North Sea producers. The Labour government last week said it plans to retain the Energy Profits Levy — introduced by the … Read more
By Joe Ryan Natural gas pipeline operator Targa Resources Corp. reached a deal to buy smaller rival Stakeholder Midstream for $1.25 billion in cash. The move expands Houston-based Targa’s ability to ship and store oil and gas in the Permian Basin, according to a statement Monday. The region has long been short on gas pipeline … Read more
By Ron Bousso LONDON, Dec 1 (Reuters) – European countries are loosening their strict opposition to new oil and gas drilling, reversing years of climate-driven resistance to fossil fuels as governments seek to reduce a heavy reliance on costly energy imports, including from the U.S. The change in tack in Greece, Italy and Britain reflects … Read more
Summary Companies One of three mooring points damaged, one offline Analysts estimate CPC exports halved Kazakhstan protests Ukraine strikes CPC exports had been seen rising (Reuters) – U.S. oil major Chevron said late on Sunday that loadings of its Tengizchevroil venture’s crude oil were continuing at the Russian port of Novorossiysk following a Ukrainian naval drone … Read more
At first glance the decision by OPEC+ to leave oil output levels unchanged for the first quarter of next year could be viewed as confirmation the exporter group is concerned about a looming crude supply glut. It was widely expected that the eight members of OPEC+ undertaking voluntary oil output cuts would stick to their … Read more
By Reuters (Reuters) – A new mechanism adopted by OPEC+ to assess members’ maximum output capacity will ultimately help to stabilise markets and reward those who invest in production, Saudi Energy Minister Prince Abdulaziz bin Salman said on Monday. The OPEC+ group approved the mechanism to assess members’ maximum production capacity to be used for setting baselines from … Read more
Oil prices are projected to remain under pressure in 2026, as swelling supplies eclipse modest demand growth, while geopolitical risks could cap deeper losses, a Reuters poll showed on Friday. The survey of 35 economists and analysts forecast that Brent crude would average $62.23 per barrel in 2026, down from October’s forecast of $63.15. The … Read more
U.S. President Donald Trump said on Saturday that the airspace above and surrounding Venezuela should be considered “closed in its entirety”, but gave no further details as Washington ramps up pressure on President Nicolas Maduro’s government. “To all Airlines, Pilots, Drug Dealers, and Human Traffickers, please consider THE AIRSPACE ABOVE AND SURROUNDING VENEZUELA TO BE … Read more
Russia’s foreign ministry said on Sunday that Ukrainian attacks on oil tankers and Caspian Pipeline Consortium (CPC) infrastructure in the Black Sea were “acts of terrorism” that threaten freedom of navigation in the region. The CPC, which includes Russian, Kazakh and U.S. shareholders, said it had halted operations after a mooring at its Russian terminal … Read more
OPEC+ agreed to leave oil output levels unchanged for the first quarter of 2026 at its meetings on Sunday as the group slows down its push to regain market share amid fears of a looming supply glut. The meeting of OPEC+, which pumps half of the world’s oil, comes during a fresh U.S. effort to … Read more
The Caspian Pipeline Consortium (CPC), which handles more than 1% of global oil, said on Saturday it halted operations after a mooring at its Black sea terminal was significantly damaged by a Ukrainian naval drones attack. “Further operation of mooring point 2 is not possible,” it said in a statement about one of three key … Read more
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in four weeks, with oil rigs dropping to a four-year low, energy services firm Baker Hughes said in its closely followed report on Wednesday. The oil and gas rig count, an early indicator of … Read more
Summary CME system resumes trading after outage Brent, WTI in longest monthly losing streaks since 2023 US crude production hit monthly high in September, EIA says (Reuters) – Crude futures fell marginally on Friday as investors considered oil’s geopolitical risk premium amid drawn-out Russia-Ukraine peace talks, while keeping an eye on Sunday’s OPEC+ meeting for … Read more
The Cheniere Sabine Pass liquefied natural gas export terminal in Cameron, Louisiana, US. US liquefied natural gas exports are set to hit a record high this month, helping to tame prices in Asia and Europe as winter begins. The US is expected to ship 10.7 million tons in November, according to predictive ship-tracking data from Kpler. … Read more
Takeaways by Bloomberg AI Prime Minister Mark Carney lost a cabinet minister over his oil pipeline agreement with Alberta, marking the first major fracture in his Liberal Party caucus over the government’s energy policies. Steven Guilbeault resigned his position as culture minister, stating the government failed to consult Indigenous communities and the pipeline would pose significant … Read more
Ron Bousso (Reuters) – Europe’s gas market is far calmer today after years of turmoil that saw the region swap Russian supplies for liquefied natural gas (LNG) imports, a strategy that is unlikely to change even if U.S. President Donald Trump brokers a peace deal in Ukraine. The White House is pushing Moscow and Kiev to agree to a plan to … Read more
(Reuters) – The European Union, Britain and the U.S. have imposed a raft of sanctions against Russia over its war in Ukraine. In October, the U.S. targeted Russia’s two top oil producers, Rosneft and Lukoil. Below is a timeline of key Western sanctions imposed since August 2024: 2024: August 23 – The U.S. imposed sanctions … Read more
Summary CME system outage halts trading Brent, WTI in longest monthly losing streaks since 2023 on risks of rising supply (Reuters) – Brent crude oil futures were largely unchanged on Friday while drawn-out Russia-Ukraine peace talks kept geopolitical risks elevated, while traders kept one eye on the outcome of an OPEC+ meeting on Sunday for … Read more
US natural gas futures rose as trading resumed on the Chicago Mercantile Exchange and wintry weather hits parts of the Midwest and East, with forecasts showing below-normal temperatures in the coming weeks for the Northeast and Great Lakes. Futures for January delivery +13c, or +2.9%, to $4.688/mmbtu on Nymex, as of 9:07am ET Weather: Heavy … Read more
By Rachel Aiello Prime Minister Mark Carney and Alberta Premier Danielle Smith have signed a major new energy co-operation agreement outlining the emission and other climate conditions that need to be met in order for the federal government to provide a “clear and efficient” process to approve a new oil pipeline to the Pacific under … Read more
(Reuters) – Russia’s Urals oil price discount to global benchmark Brent widened by six percentage points this month to 23%, Russian central bank said on Thursday it its review. The discounts, though less severe than those seen after the initial wave of Western sanctions in 2022, reflect mounting pressure on Russian oil revenues – a … Read more
(Reuters) – Ukraine’s and the U.S. negotiating teams will meet soon, Foreign Minister Andrii Sybiha said on Thursday, adding that Kyiv would focus on specific steps in peace proposals. “Our expectations are concrete results. Concrete results so that progress can be made,” Sybiha told a news briefing. “It is extremely important for us, and Ukraine … Read more
(Reuters) – U.S. crude stocks climbed as imports rose to an 11-week high, the EIA said on Wednesday, while fuel inventories also increased as refining activity ticked higher. Crude inventories climbed by 2.8 million barrels to 426.9 million barrels in the week ended November 21, the EIA said, compared with analysts’ expectations in a Reuters … Read more
Summary Markets pricing in possibility of Russia-Ukraine peace plan Thin trade likely due to US holiday OPEC+ set to keep output unchaned at Sunday meet, sources say (Reuters) – Oil prices steadied on Thursday as market participants weighed talks to end the war in Ukraine against the impact of Western sanctions against Russian supply, though … Read more
(Reuters) – U.S. natural gas futures climbed about 3% to a one-week high on Wednesday on record flows to liquefied natural gas (LNG) export plants, the expiration of a lower-priced contract, forecasts for colder weather and higher demand, and a bigger-than-expected storage withdrawal. Limiting gains were record output, ample amounts of gas in storage and … Read more
(Reuters) – Britain will allow some new oil and gas production on or near existing fields, the government said on Wednesday, easing its stance on new licences while dashing oil and gas producers’ hopes for an early end to windfall taxes on their sector. From an output of around 4.4 million barrels of oil equivalent … Read more
(Reuters) – GOLDMAN SACHS: Estimate downside risks to crude prices, and especially refined oil product prices, if sanctions on Russia’s oil sector were to be lifted Says its base case still assumes a status quo for sanctions on Russian oil, an extension of the recent downward trend in Russia production, and a decline in brent/WTI … Read more
(Reuters) – BP’s 440,000-barrel-per-day oil refinery in Whiting, Indiana, has returned to normal operations following a planned maintenance turnaround in September and a fire in October, two sources said. The largest refinery in the U.S. Midwest returned to normal operations early this week, the sources said. A BP spokesperson declined on Wednesday to comment on … Read more
Bloomberg News Canadian Prime Minister Mark Carney said his government is negotiating an agreement with Alberta that “creates necessary conditions” for the future construction of a new oil pipeline to Canada’s west coast. A project that allows western Canada to ship crude via tanker to overseas markets is one of the main requests of Alberta Premier Danielle … Read more
A Reliance Industries joint venture will invest $11 billion over five years to develop 1 gigawatt of AI data capacity in the southern Indian state of Andhra Pradesh, the companies and the state’s government said on Wednesday. Canadian multinational company Brookfield Corporation and U.S.-based real estate investment trust Digital Realty are the other partners involved … Read more
Venture Global said on Tuesday it has signed a 20-year sales and purchase agreement, or SPA, with Japan’s capital city gas supplier, Tokyo Gas, to supply it with 1 million metric tonnes per annum of liquefied natural gas, starting in 2030. The agreement marks Venture Global’s fourth long-term contract with a Japanese company and the … Read more
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Summary Ukraine peace deal likely to drag down prices Expected 2026 supply glut weighs on market OPEC+ likely to leave output levels unchanged (Reuters) – Oil prices were steady on Wednesday after sliding to a one-month low in the previous session as investors assessed prospects of oversupply and talks over a Russia-Ukraine peace deal. Brent … Read more
By Ahmad Ghaddar and Alex Lawler OPEC+ meets on Sunday, expected to be online Eight OPEC+ members to also meet on Sunday to review market LONDON, Nov 25 (Reuters) – OPEC+ is likely to leave output levels unchanged at its meeting on Sunday while focusing talks on a theoretical topic of how much oil its … Read more
LONDON, Nov 25 (Reuters) – OPEC+, which pumps about half the world’s oil, has paused oil output hikes for the first quarter of 2026 after releasing some 2.9 million barrels per day into the market since April 2025. The group still has about 3.24 million bpd of output cuts in place, representing around 3% of … Read more
(Reuters) – U.S. LNG producer Venture Global accused Shell of waging a “three-year campaign” to damage its business after Shell appealed an arbitration loss, according to a staff note confirmed by Reuters on Wednesday. Venture Global has faced arbitration claims from Shell, BP and other European buyers alleging contract breaches after the company sold LNG on the spot … Read more
By Marcus Lu | Graphics/Design: Amy Kuo Visualizing All of the World’s Data Centers in 2025 Key Takeaways November 2025 data reveals America’s leadership in digital infrastructure, accounting for roughly 38% of the world’s data centers. Europe is also a major force, with nearly 3,500 data centers across the region. Data centers are the backbone … Read more
By Kari Lundgren Equinor ASA will drill about 26 wildcat and appraisal wells off the coast of Norway in 2026, mostly in the country’s North Sea, as the company looks to spend $6 billion a year over the next ten years to maintain the flow of oil and gas to Europe. Norway’s biggest oil and … Read more
By Shariq Khan ‘Tremendous progress’ toward Ukraine-Russia peace deal, White House says Zelenskiy could visit the US in next few days Russia stresses deal cannot stray too far from its objectives NEW YORK, Nov 25 (Reuters) – Oil prices fell over 2% on Tuesday after Ukraine hinted that an intense diplomatic push by the U.S. … Read more
Summary Maduro could offer a portion of oil cargoes currently sold to China Washington and Caracas could also engage in negotiations to restore US energy licenses New phase of action against Venezuela puts more pressure on Maduro (Reuters) – Venezuelan President Nicolas Maduro has the flexibility and the incentive to offer crude oil cargoes, which … Read more
Takeaways by Bloomberg AI Prime Minister Mark Carney and Alberta Premier Danielle Smith have agreed to the broad terms of a deal that would support a new oil pipeline to Canada’s west coast. The federal and provincial leaders are set to announce a milestone deal granting special exemptions and “political support” to a new pipeline. British … Read more
Nov 24 (Reuters) – The U.S. Federal Energy Regulatory Commission, or FERC, said on Monday it has granted a five-year extension to complete construction of Sempra’s (SRE.N) Cameron LNG export facility in Louisiana and place it into service. In October, Cameron LNG had filed an extension request for five years (until March 16, 2033) to … Read more
By Nicole Jao BP excavates over 200 feet of pipeline to locate leak source Major airlines add refueling stops to flights amid pipeline shutdown Delta Air Lines and Alaska Airlines use tanker trucks to supplement fuel NEW YORK, Nov 24 (Reuters) – BP’s (BP.L) Olympic Pipeline system remained offline on Monday as the oil major … Read more
(Reuters) – U.S. Energy Information Administration: Says although natural gas generation still provides more electricity than any other source in california, electricity generation from natural gas has decreased over the past several years while generation from solar has increased Reports solar generation by utility-scale power plants in california totaled 40.3 billion kilowatthours (bkwh) in the … Read more
Four Democratic U.S. senators said on Monday lax enforcement by the Trump administration of sanctions on Russia’s Arctic LNG 2 export terminal allows China to buy discounted liquefied natural gas and helps Moscow to fund the war against Ukraine. The lawmakers, including Senator Elizabeth Warren, urged the Trump administration in September to resume targeted sanctions … Read more
Summary Fortune 100 companies send more people to Belem than to Baku Extreme weather hits supply chains, profits ‘A decisive role to play,’ says business group chief (Reuters) – Despite the U.S. government souring on the global climate agenda ahead of the COP30 summit, American companies did not shy away. A Reuters analysis of attendance lists … Read more
Summary Oversupply concerns outweigh Russian sanctions’ impact on oil prices Russian oil exports to China discussed amid sanctions Deutsche Bank predicts 2026 oil surplus, bearish outlook LONDON, Nov 25 (Reuters) – Oil prices eased on Tuesday as oversupply concerns outweighed worries that Russian shipments will remain under sanctions as talks to end the Ukraine war … Read more
Revenue from energy production on U.S. public lands and waters fell 11% in the latest fiscal year to $14.61 billion, the Interior Department said on Monday, citing lower prices for commodities like oil. WHY IT’S IMPORTANT The total was the lowest since 2021, the first year of the administration of U.S. President Joe Biden, but … Read more
(Reuters) – JPMorgan forecast on Monday Brent crude at $57 a barrel and West Texas Intermediate (WTI) at $53 in 2027, while keeping its 2026 estimates unchanged at $58 and $54 respectively. Brent crude futures were trading around $62.54 a barrel as of 1434 GMT, while U.S. West Texas Intermediate crude was trading at $58.08. … Read more
CAIRO, Nov 24 (Reuters) – Abu Dhabi state oil company ADNOC plans $150 billion of investment between 2026 and 2030, it said on Monday, seeking to maintain existing operations, drive growth and meet global energy demand. During a meeting on Monday, the board of directors welcomed the company’s increased oil reserves at 120 billion stock … Read more
By Sing Yee Ong Spot freight rates for liquefied natural gas tankers extended a surge as record-breaking exports from North America tied up more vessels. The cost to hire a ship transporting LNG from the US to Europe jumped by about 12% on Friday to $130,750 a day, the highest since December 2023, according to … Read more
By Weilun Soon The cost of hiring an oil supertanker on a benchmark route spiked to the highest in more than five years, as buyers sought alternatives to sanctioned Russian crude amid increased supply from Middle East and US producers. Benchmark rates for very-large crude carriers that can transport up to 2 million barrels from … Read more
(Reuters) – The United States on Monday formally designated Cartel de los Soles a foreign terrorist organization, layering additional terrorism-related sanctions on the group it has said includes Venezuelan President Nicolas Maduro and other high-ranking officials. Venezuela’s government rejected what it called a “ridiculous” U.S. plan to designate the “non-existent” group. Secretary of State Marco … Read more
NextDecade Corp said on Monday it has started the U.S. regulatory pre-filing process to add a sixth liquefaction unit and an extra marine berth at its Rio Grande liquefied natural gas project in Texas, with a full application expected in 2026. The U.S. LNG sector has been rapidly expanding after President Donald Trump lifted the … Read more
Clyde Russell Summary (Reuters) – The weak statement that omitted any mention of fossil fuels was probably the best outcome that could have been realistically expected of the COP30 climate summit. It was always going to be a tall order to put nearly 200 countries with massively different perspectives together and deliver a strong statement … Read more
Reuters The United States is poised to launch a new phase of Venezuela-related operations in the coming days, four U.S. officials told Reuters, as the Trump administration escalates pressure on President Nicolas Maduro’s government. Reuters was not able to establish the exact timing or scope of the new operations, nor whether U.S. President Donald Trump … Read more
(Reuters) – HOUSTON, Nov 21 – There are 10 hydraulic fracturing crews operating in North Dakota, down from 13 in October, the state regulator said on Friday, as weak oil prices push operators to put the brakes on activity. “This is seasonal however I do believe that some of the reduction there is related to … Read more
(Reuters) – Oil prices stabilised on Monday after last week’s decline of about 3%, as investors weighed the chances for a U.S. rate cut against the prospect of a Ukraine peace deal that could lead to an easing of sanctions on major producer Russia. The United States and Ukraine were set to resume work on … Read more
By Gavin Maguire LITTLETON, Colorado, Nov 21 (Reuters) – A potent mix of American ingenuity and full-throated political backing has propelled the U.S. to the top of global LNG exporter rankings, and promoted a narrative that shipments of “freedom gas” will continue climbing to all markets for years to come. But while U.S. liquefied natural … Read more
(Reuters) – U.S. natural gas futures climbed about 2% to a one-week high on Friday with flows to liquefied natural gas export plants back near record highs on the expected return to full service of Freeport LNG’s plant in Texas and on a planned jump in demand in two weeks with the coming of some … Read more
Baytex Energy announced the sale of its U.S. shale operations for $3.25 billion last week By Meghan Potkins Original: financialpost.com/news/us-oil-companies-energy-investors-canada-deals A flurry of recent deals in the Canadian oilpatch that caught the interest of U.S. producers and private capital is fuelling speculation about a revival of foreign investment in Canada’s perennially unloved energy sector. Calgary-based … Read more
By Sheila Dang HOUSTON, Nov 21 (Reuters) – Exxon Mobil (XOM.N) has paused plans to build what would be one of the world’s largest hydrogen production facilities due to weak customer demand, CEO Darren Woods told Reuters in an interview on Friday. The suspension of the project, which had already experienced delays, reflects a wider … Read more
Summary Russia-Ukraine peace deal could boost global crude supply Stronger dollar weighs on oil prices US sanctions on Lukoil and Rosneft to take effect on Friday (Reuters) – Oil prices eased about 1% on Friday to settle at one-month lows as the U.S. pushed for a Russia-Ukraine peace deal that could boost global oil supplies, … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a third week in a row for the first time since September, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by five to … Read more
U.S. liquefied natural gas company Freeport LNG’s export plant in Texas was on track to take in more natural gas on Friday in a sign that one of its three liquefaction trains has returned to service after shutting on Thursday, LSEG data and regulatory filings show. Freeport is one of the world’s most closely … Read more
The United Arab Emirates said on Friday it will invest up to $50 billion in Canada under a framework that includes projects in artificial intelligence, energy, and mining sectors. The UAE has been looking to expand its energy investments abroad, especially through its recently launched firm XRG, the foreign investment arm of Abu Dhabi’s oil … Read more
The COP30 climate summit was headed for a showdown on Friday over the future of fossil fuels after hosts Brazil dropped efforts to develop a global plan to shift away from oil, gas and coal from its proposed deal. A draft text for a deal for this year’s U.N. climate summit, released before dawn on … Read more
Summary Permian Basin starts to show economic strain as oil prices hover around $60 Trump’s tariffs are pushing costs higher, eating into profitability Local businesses and employment suffer amid industry downturn Reuters) – At the heart of the U.S. shale industry in Texas, oil production is climbing. But you wouldn’t know that if you talked … Read more
By Yogi Schulz The characteristics of some US states offer significant advantages over others in the competitive race to attract AI data centers. Contact your member of Congress to express your support for realizing this economic development opportunity for your state. Ohio and Pennsylvania are the states with the most advantages in this analysis. How … Read more
By Christopher Charleston US midstream companies are racing to expand natural gas liquids export capacity as global buyers show interest in American barrels, but analysts warn that a processing squeeze could slow the system long before cargoes reach the docks. While production of natural gas liquids, or NGLs, continue to reach new record highs — … Read more
Summary Shifting interest rate outlook and strong dollar weigh on prices Ukraine will work with Washington on peace plan, says Zelenskiy US sanctions on Lukoil and Rosneft take effect on Friday (Reuters) – Oil prices fell nearly 2% on Friday, extending declines for a third session as the United States pushed for a Russia-Ukraine peace … Read more
By Javier Blas Even after years of technological breakthroughs, the shale industry still leaves most of the oil underground. At best, American drillers siphon away 15% to 10% of what’s potentially available; the rest has remained thousands of feet under the surface. Until now. The next phase of the revolution — call it shale 4.0 … Read more
By Ari Natter The Trump administration is proposing to open new areas off of California, Florida and Alaska to crude drilling as part of a draft blueprint released Thursday that would dramatically expand the sale of oil and natural gas rights. In all, the Interior Department is proposing as many as 34 offshore lease sales … Read more
DOE reorganizes to prioritize oil and nuclear over renewables New divisions include Hydrocarbons and Geothermal Energy Office DOE did not say whether jobs would be affected Nov 20 (Reuters) – The U.S. Department of Energy on Thursday announced a reorganization of the agency that prioritizes oil and nuclear resources over offices that had been dedicated … Read more
By Emma Sanchez The biggest natural gas pipeline boom in nearly 20 years is unfolding in the US South as companies build systems to feed massive export terminals rising along the Gulf of Mexico. As many as 12 projects to install new pipelines or expand existing ones are on pace to be completed next year … Read more
By Mayela Armas CARACAS, Nov 20 (Reuters) – Venezuela’s National Assembly on Thursday approved a 15-year extension of the joint ventures between state company PDVSA and a unit of Russia’s Roszarubezhneft that operate two oilfields in the South American country’s western region, according to a session broadcast on TV. The partnerships may continue operating the … Read more
By Ron Bousso Investment in low-carbon energy to reach $2.2 trillion this year Global renewable power capacity is forecast to double by 2030 Trade tensions to nevertheless slow the energy transition LONDON, Nov 20 (Reuters) – Stalled climate negotiations at COP30 and stubbornly high fossil fuel demand reflect the growing market consensus that the energy … Read more
(Reuters) – Operators of the U.S. electric grid covering the world’s largest data center market on Wednesday said they planned to move forward with a plan to manage the connection of the giant server warehouses that are propelling the country’s power use to record highs and raising the risk of supply shortfalls. PJM Interconnection, the … Read more
By Gianluca Lo Nostro Schneider signs two deals with US data centre operators New agreements expected to generate nearly $2.3 billion in sales Company says its solution can scale AI capacity without raising power demand Nov 19 (Reuters) – Schneider Electric (SCHN.PA) said on Wednesday that it had signed new deals worth almost $2.3 billion … Read more
(Reuters) – U.S. crude stocks fell as refining and export demand rose, while gasoline and distillate inventories rose last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.4 million barrels to 424.2 million barrels in the week ended November 14, the EIA said, compared with analysts’ expectations in a Reuters poll … Read more
(Reuters) – Saudi and U.S. officials on Wednesday touted billions in new investments and growing financial ties between the two countries coinciding with Saudi Arabian Crown Prince Mohammed bin Salman’s visit to Washington. The CEOs from Chevron, Qualcomm, Cisco, General Dynamics and Pfizer are attending the U.S.-Saudi Investment Forum at the Kennedy Center in Washington, … Read more
By Kevin Crowley and Annmarie Hordern Chevron Corp., the only major US oil company left in Venezuela, wants to remain in the sanctioned country for the long-term and sees a role in rebuilding its economy when the time is right. “The kinds of swings that you see in places like Venezuela are challenging but we … Read more
(Reuters) – Crude oil production from Alaska is forecast to reach 477,000 barrels per day (bpd) in 2026, the highest since 2018, the U.S. Energy Information Administration (EIA) said in its latest Short-Term Energy Outlook on Wednesday. The EIA said Alaska oil production is expected to rise 13%, or 55,000 bpd, marking the largest annual … Read more
Summary Brent, WTI up after 2% drops in prior session US crude stocks fall, but gasoline and distillate increase Equities rally, helping oil, but strong dollar weighs (Reuters) – Oil prices edged up on Thursday after falling in the previous session, boosted by a bigger-than-expected draw in U.S. crude stockpiles and a general risk-asset market … Read more
The companies plan to boost capacity to 1 million barrels per day after the deal closes, expected by early 2026, by adding pumping stations and building a 92-mile extension to Exxon Mobil’s Cowboy gas processing plant in Eddy County, New Mexico. The 550-mile Bahia line, now in commissioning, is set to start commercial service soon, … Read more
Nov 19 (Reuters) – The Public Utilities Commission of Ohio on Wednesday ordered FirstEnergy’s (FE.N) Ohio utilities to pay $250.7 million in penalties and refunds after an investigation linked to a bribery scandal found the energy distributor broke state laws and rules. Ohio-based FirstEnergy previously admitted paying millions of dollars to state officials to pursue … Read more
By Francois de Beaupuy TotalEnergies SE Chief Executive Officer Patrick Pouyanne said European nations should avoid becoming too reliant on imports of US liquefied natural gas as they prepare to further trim supplies from Russia. US President Donald Trump “seeks somehow to replace the Russian dependency with an American dependency” as Europe looks for energy, … Read more
By Eric Onstad As China limits exports, MP Materials leads US bid for alternatives Heavy elements dysprosium and terbium are hard to source Brazil emerges as key heavy rare earth ore exporter LONDON, Nov 19 (Reuters) – The West’s push to build a home-grown magnets supply chain to reduce its reliance on China – led … Read more
GLJ Sustainability & Emissions Management Webinar The global trade landscape is undergoing unprecedented transformation; the energy sector is not immune. From geopolitical tensions to shifting supply chains and evolving market dynamics, these disruptions are prompting a strategic reassessment across the industry. Yet, with change comes opportunity. As one of the world’s top oil and gas … Read more
Saudi Arabia will sign energy sector agreements with the U.S. worth $30 billion, the CEO of Saudi state oil giant Aramco, Amin Nasser, said on Wednesday in comments carried by Saudi state TV. His comments came during the U.S.-Saudi investment forum, being held in Washington. Reporting by Yomna Ehab; and Elwely Elwelly; wriitng by Muhammad … Read more
(Reuters) – U.S. natural gas futures climbed about 4% on Wednesday on near-record flows to liquefied natural gas export plants and forecasts for higher demand than previously expected as the weather turns colder than normal going into December. Front-month gas futures for December delivery on the New York Mercantile Exchange rose 16.8 cents, or 3.8%, … Read more
Russian liquefied natural gas producer Novatek has slashed the prices of its cargoes by 30% to 40% since August to entice Chinese buyers to purchase sanctioned gas from its Arctic LNG 2 project, sources familiar with the matter told Reuters. The purchases have ended the commercial limbo for the $21-billion project, which is subject to … Read more
Summary MBS’s first US trip since Khashoggi’s killing in 2018 MBS promises to boost US investment to $1 trillion Event includes top US executives from various sectors WASHINGTON, Nov 19 – Saudi Arabian Crown Prince Mohammed bin Salman will rub shoulders with many of Corporate America’s most powerful executives on Wednesday, a day after President … Read more
Rising power demand driven by data centers is shrinking U.S. electricity supplies and increasing the risk of energy shortages if extreme winter weather strikes this year, the North American Electric Reliability Corporation said on Tuesday. The swift proliferation of data centers in the U.S., along with the electrification of buildings and transportation, is driving up … Read more
A race is on among energy companies to build a major fuel pipeline to the U.S. West Coast, a potentially lucrative prize as the planned closure of two California refineries threatens to send gasoline prices in the isolated market soaring. Motorists in West Coast states have long paid some of the country’s highest fuel prices … Read more
(Reuters) – Global refining margins have hit multi-year highs in November due to sanctions on Russia, refinery outages and maintenance, according to LSEG data and analysts, and some see little respite without more plants being built in the Western world. The strength in margins contrasts with crude oil markets coming under pressure from an expected … Read more
By EnergyNow Staff Western Canada Select (WCS) and West Texas Intermediate (WTI) are both crude oil benchmarks, but they differ in quality, location, and market dynamics — which is why WCS typically trades at a discount to WTI. 1. What They Are WTI (West Texas Intermediate) A light, sweet crude oil (low density, low sulfur). … Read more
By Ruth Liao and Stephen Stapczynski The Golden Pass liquefied natural gas terminal under construction in Sabine Pass, Texas. Photographer: Callaghan O’Hare/Bloomberg The Texas joint venture between QatarEnergy and Exxon Mobil Corp. is targeting February to load its first liquefied natural gas cargo, in what would be a major milestone for US exports of the … Read more
(Reuters) – Oil prices fell on Wednesday due to higher crude inventories in the U.S., reinforcing oversupply concerns, but falls were limited by a tighter fuel market as a result of attacks against Russia’s oil infrastructure. Brent crude futures fell 71 cents, or 1%, to $64.18 a barrel by 1111 GMT, after gaining 1.1% the … Read more
By Anna Hirtenstein, Shariq Khan and Jarrett Renshaw LONDON/NEW YORK, Nov 18 (Reuters) – U.S. oil major Exxon Mobil (XOM.N) has joined rival Chevron Corp (CVX.N) in considering options to buy parts of sanctioned Russian oil major Lukoil’s (LKOH.MM) international assets, sources familiar with the matter said. Exxon is considering options for Lukoil assets in … Read more
Widening gap between forecasts from IEA, OPEC and EIA clouds oil market outlook By Ryohtaroh Satoh and Malcolm Moore Original: financialpost.com/financial-times/barrel-divide-iea-opec-at-odds-oil-demand The widest gap for more than two decades has opened up between the forecasts of the three main international organisations that track the world’s crude markets, causing confusion about global oil demand. The Paris-based … Read more
By Sing Yee Ong and Stephen Stapczynski The cost of transporting liquefied natural gas across the Atlantic Ocean surged to the highest in almost two years, as expanding exports from North America boosted demand for tankers. The spot rate to hire an LNG vessel for delivery from the US to Europe jumped 19% to $98,250 … Read more
FRANKFURT, Nov 18 (Reuters) – Germany is putting natural gas import terminals into operation as part of the country’s efforts to replace piped Russian gas following Moscow’s invasion of Ukraine in 2022. The Elbe River terminal at Stade is now in line to become operational in the second quarter of 2026 at the earliest, according … Read more
By Ron Bousso TotalEnergies acquires 50% in Czech energy company EPH’s power business French company aims to grow power business while also increasing oil and gas Strategy contrasts with Shell and BP that scrapped most renewables plans LONDON, Nov 18 (Reuters) – France’s TotalEnergies (TTEF.PA) is betting big on power and renewables, positioning itself to … Read more
EIR report details coal’s exit, renewable energy trends, and the future of U.S. electricity supply CALGARY, Alberta (Nov. 18, 2025) Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, is releasing its long-term U.S. power capacity expansion outlook, based on proprietary load forecasts, interconnection … Read more
(Reuters) – President Donald Trump is willing to sign legislation to impose sanctions on Russia as long as he retains ultimate decision-making authority over any such measures, a senior White House official said on Monday. Trump told reporters late on Sunday that it was “OK with me” that Republicans were working on legislation to impose … Read more
By Shariq Khan, Anna Hirtenstein and Dmitry Zhdannikov LONDON, Nov 17 (Reuters) – U.S. oil major Chevron (CVX.N) is studying options to buy global assets of sanctioned Russian oil firm Lukoil (LKOH.MM), five sources familiar with the process told Reuters on Monday. The U.S. Treasury gave clearance last week to potential buyers to talk to … Read more
Summary US Treasury says sanctions are squeezing Mscow’s revenue Russian oil loadings at Novorossiysk resume after Ukraine attack Oil prices to fall next year, says Goldman Sachs (Reuters) – Oil prices steadied on Tuesday, regaining ground after early losses, as traders weighed the impact of Western sanctions on Russian oil flows against an expected supply … Read more
The catalyst for the brighter outlook is the newly expanded Trans Mountain oil pipeline Canada’s oil sands are experiencing a comeback after years of living in the shadow of United States shale. Crude output is climbing to new highs, the nation’s top producers are seeing their shares soar and interest in the industry is rising among U.S. institutional investors. … Read more
(Reuters) – Venture Global said on Monday it had asked the U.S. Federal Energy Regulatory Commission for permission to more than double the capacity of its Plaquemines liquefied natural gas export facility under development in Louisiana. The company wants to add 30 million metric tons per annum (mtpa) of additional LNG capacity to the previously … Read more
(Reuters) – Oil prices are expected to decline through 2026, Goldman Sachs said on Monday, citing a production surge that will keep the market in a large surplus of around 2 million barrels per day. The bank forecast Brent crude will average $56 a barrel and WTI $52 in 2026, below current forward curves of … Read more
(Reuters) – U.S. oil and natural gas drilling activity has continued to decline even as production reaches record highs, the U.S. Energy Information Administration (EIA) said on Monday. The EIA said the average number of active rigs in the Lower 48 has fallen from 750 in December 2022 to 517 in October 2025, reflecting operators’ … Read more
By John Ainger Luiz Inácio Lula da Silva, during the COP30 Leaders Summit on Nov. 6. Photographer: Dado Galdeiri/Bloomberg The thousands of protesters who brought traffic to a halt Saturday in the Brazilian city of Belém implored leaders to act faster to tackle global warming. As United Nations climate talks enter their critical second week, … Read more
By Elena Mazneva The global market could absorb a record wave of new supply of liquefied natural gas, but much depends on net zero policies and renewables growth, the International Energy Agency said. The IEA said it revised up overall gas demand in its World Energy Outlook published Wednesday, but “questions still linger about where … Read more
As COP30 kicks off its second week in Brazil, much has changed since the landmark Paris climate agreement was penned 10 years ago. The spirit of cooperation that once reigned has been shattered by economic rivalries and a stark divergence in climate policies among the world’s biggest polluters. The landmark UN COP21 climate agreement signed … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by 1 to 549 in the week to November … Read more
Summary Russia’s Novorossiysk port has resumed oil loadings US plans sanctions on nations doing business with Russia Speculators increase ICE Brent net longs on supply risks (Reuters) – Oil prices dipped slightly on Monday as loadings resumed at Russia’s Novorossiysk export hub after a two-day suspension at the Black Sea port that had been hit … Read more
A visit by Saudi Arabia’s de facto ruler to the White House for talks on Tuesday with U.S. President Donald Trump aims to deepen decades-old cooperation on oil and security while broadening ties in commerce, technology and potentially even nuclear energy. It will be the first trip by Crown Prince Mohammed bin Salman to the … Read more
Venture Global said on Friday that following Shell’s recent loss in arbitration over liquefied natural gas (LNG) supply claims, an International Chamber of Commerce panel has issued an award ordering Shell to pay its legal fees. “Venture Global looks forward to putting these proceeds toward our coastal restoration efforts along the Gulf of America,” a … Read more
(Reuters) – Activist investment firm Kimmeridge Energy Management has taken a stake in U.S. shale producer Devon Energy, according to a stock market filing released on Friday. THE DETAILS Kimmeridge owned 5.66 million shares in Devon as of the end of September, the filing said. That would equate to an approximately 0.9% stake in Devon, … Read more
Summary Brent, WTI settle up more than 2% Both benchmarks rise on the week Russian port of Novorossiisk halt oil exports Investors weigh impact of Western sanctions on Russian oil (Reuters) – Oil prices settled more than 2% higher on Friday as Russia’s port of Novorossiisk halted oil exports following a Ukrainian drone attack that … Read more
(Reuters) – Goldman Sachs expects global oil demand to grow to 113 million barrels per day in 2040 from 103.5 mbpd in 2024, driven by rising energy needs and ongoing challenges in low-carbon technology and infrastructure, the Wall Street bank said on Thursday. “We expect solid annual average demand growth of 0.9 mbpd in 2025-2030, … Read more
U.S. liquefied natural gas plants could take on as much as 40 billion cubic feet of natural gas per day in coming years, Cheniere Energy Chief Commercial Officer Anatol Feygin said on Friday. U.S. plants are currently using a record 18 bcfd of natural gas to produce LNG, according to data from financial firm LSEG. … Read more
(Reuters) – Brent crude could rise above $85 per barrel if Russian exports fall sharply, Barclays said, well above the bank’s previous forecast of $66 per barrel for 2026. In late October, U.S. President Donald Trump imposed Ukraine-related sanctions on Russia’s largest oil companies, Lukoil and Rosneft, in Washington’s toughest measures against Russian business during … Read more
(Reuters) – Saudi Aramco is set to sign two U.S. liquefied natural gas supply deals with Woodside Energy and Commonwealth LNG when Saudi Arabia’s Crown Prince Mohammed bin Salman visits Washington next week, sources familiar with the matter told Reuters. The world’s largest oil exporter, Saudi Aramco, wants to become a major liquefied natural gas … Read more
‘A lot of major work has taken place in the past five years, getting everything put together … This announcement gets us so very close to the finish line’ This Article & More by Chris Varcoe Here Natural gas producers in Western Canada watched closely as the Carney government added the Ksi Lisims LNG … Read more
Project Expected to Create 500 Construction Jobs, Spur Local Economic Development Will Help Meet Rising Electricity Demand from Growing Economy and AI/Data Center Innovation NEW YORK–(BUSINESS WIRE)–Blackstone (NYSE: BX), through funds affiliated with Blackstone Energy Transition Partners (collectively, “Blackstone Energy Transition Partners”), today announced a $1.2 billion investment to build Wolf Summit Energy (“Wolf Summit”), a … Read more
(Reuters) – Spain’s biggest refinery operator Repsol SA is considering a reverse merger of its upstream unit with potential partners, including U.S. energy producer APA, Bloomberg News reported on Thursday, citing people with knowledge of the matter. APA shares were up 7.1% at $25.59. Repsol in 2022 entered into a deal to sell a 25% … Read more
Summary Brent, WTI jumped more than 2% earlier and pared gains Port of Novorossiysk halted oil exports on Friday Ukraine attack damages ship, homes, oil depot in Russian port LONDON, Nov 14 (Reuters) – Oil prices climbed more than 1% on Friday, boosted by supply fears after the Black Sea port of Novorossiysk halted oil … Read more
(Reuters) – The Trump administration on Thursday finalized its rollback of Biden-era limits on oil and gas drilling in an Alaska area that is the nation’s largest tract of undisturbed public land. The move is consistent with President Donald Trump’s goal to reduce restrictions on domestic oil and gas development, particularly in resource-rich Alaska. Biden’s … Read more
(Reuters) – U.S. natural gas futures rose to their highest level since March on Thursday, supported by stronger liquefied natural gas (LNG) exports and forecasts for colder-than-normal weather in December. Front-month gas futures for December delivery on the New York Mercantile Exchange moved 10.8 cents higher, or 2.4%, to $4.64 per million British thermal units … Read more
(Reuters) – U.S. crude stocks rose while gasoline and distillate inventories fell last week on stronger demand, the Energy Information Administration said on Thursday. Crude inventories rose by 6.4 million barrels to 427.6 million barrels in the week ended November 7, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.96-million-barrel … Read more
The oil giant is pushing for a new carbon accounting method, which worries climate advocates but shows Exxon is sticking with its emission-reduction goals despite Trump’s attacks on low-carbon energy By Akshat Rathi and Kevin Crowley When you’re one of the biggest polluters, you have a vested interest in how pollution is counted. That is … Read more
Around 1.4 million barrels per day of Russian oil, or almost a third of the country’s seaborne exporting potential, remain in tankers as unloading slows due to U.S. sanctions against Rosneft and Lukoil, JPMorgan said on Thursday. The U.S. set a November 21 deadline to wind down all dealings with Rosneft and Lukoil, in the … Read more
A jump in natural gas costs has spurred several U.S. utilities to lift coal power output and cut back on gas-fired generation so far this year, reversing a years-long trend of lower coal use and emissions in the country While the trend has been a national phenomenon, six states – Arkansas, Indiana, Michigan, Ohio, South … Read more
European Union lawmakers backed further cuts to the bloc’s corporate sustainability law on Thursday, following months of pressure from companies and some governments demanding the EU weakens its rules. The European Union’s corporate sustainability due diligence directive (CSDDD) was adopted last year and requires companies to fix human rights and environmental issues in their supply … Read more
Washington’s $80 billion investment in nuclear reactors won’t yield carbon-free power anytime soon. By Will Wade The control room at the Three Mile Island nuclear power plant in Middletown, Pennsylvania. Photographer: Michelle Gustafson/Bloomberg After a generation of stagnation, interest in US nuclear energy is sky high, thanks to artificial intelligence’s voracious energy needs. Nuclear companies … Read more
(Reuters) – U.S. oil production is expected to set a larger record this year than previously forecast, even as global oil supply outpaces fuel demand, the Energy Information Administration said in its Short-Term Energy Outlook report on Wednesday. The Department of Energy’s statistical arm expects U.S. oil output to average 13.6 million barrels per day … Read more
Summary API shows rise in weekly US crude, sources say OPEC report says oil supply will match demand in 2026 IEA says oil, natural gas demand to grow through 2050 (Reuters) – Oil prices edged up on Thursday, taking a break after major losses in the previous session, as investors weighed concerns about global oversupply … Read more
The liquefied natural gas market is bracing for a surge in supply next year, largely from top exporter the United States, but what is less certain is just how low spot prices will have to drop to clear the additional volumes. Global supply of the super-chilled fuel is expected to rise to 475 million metric … Read more
The energy watchdog says it’s possible global oil consumption could keep increasing through the middle of the century. By Grant Smith For several years, one of the world’s top oil forecasters seemed sure that demand growth would soon plateau. That certainty is fraying. On Wednesday, the International Energy Agency in Paris — founded in the … Read more
When warnings abound about an imminent collapse in oil prices, one would not expect the CEO of a major oil company to boast that he has never been more confident. Yet that was precisely the message conveyed in Chevron’s updated strategy, unveiled by CEO Mike Wirth on Wednesday. He shrugged off concerns about oversupply in … Read more
(Reuters) – From Egypt to Kazakhstan, the foreign assets of Russian oil major Lukoil are attracting potential bidders as time runs out to clear deals before U.S. authorities enforce sanctions. The U.S. has hit Lukoil with sanctions as part of its effort to bring the Kremlin to peace talks over Ukraine, and has already blocked … Read more
(Reuters) – BP is in active talks with investment firm Stonepeak over the sale of its Castrol lubricants unit, two people with knowledge of the situation said, in what would be a major step in meeting the energy company’s $20 billion goal. KEY DETAILS Both Stonepeak and private equity firm One Rock made bids for … Read more
By Kevin Crowley Chevron Corp. chose West Texas as the site of its first project to provide natural gas-fired power to a data center, the beginning of a new line of business for the oil giant to capitalize on the boom in artificial intelligence. The company is in exclusive talks with the data center’s end … Read more
By Elena Mazneva The global market could absorb a record wave of new supply of liquefied natural gas, but much depends on net zero policies and renewables growth, the International Energy Agency said. The IEA said it revised up overall gas demand in its World Energy Outlook published Wednesday, but “questions still linger about where … Read more
CALGARY – Baytex Energy Corp. says it has signed a deal to sell its U.S. Eagle Ford assets to an undisclosed buyer for about $3.25 billion in a move to focus on its operations in Alberta and Saskatchewan. The company says the light oil Eagle Ford operations in Texas represent all of its U.S. business. Baytex chair … Read more
World oil supply is expected to match demand next year in a reflection of the wider OPEC+ group’s production increases, an OPEC report showed on Wednesday, marking a further shift from its earlier projections of a supply deficit in 2026. OPEC+, which groups the Organization of the Petroleum Exporting Countries, Russia and other allies, has … Read more
The International Energy Agency’s latest outlook signals that oil demand may continue rising into 2050, a sharp shift from its previous reports and a stark reminder of how dominant black gold remains in the global economy. The IEA’s annual World Energy Outlook, published on Wednesday, maps out different trajectories for energy demand through 2050. This … Read more
By Reuters Nov 12 (Reuters) – Oil major TotalEnergies has agreed a 15-year power purchase deal to supply Alphabet’s Google with 1.5 terawatt hours of renewable electricity from its Montpelier solar farm in Ohio, the French company said on Wednesday. The solar facility, which is nearing completion, is connected to the PJM grid, the largest in the United … Read more
Summary IEA’s current policies scenario shows no oil demand peak before 2050 LNG supply to grow 50% by 2030 US has criticized the IEA for clean energy focus IEA says target to limit temperature rise at 1.5C out of reach (Reuters) – Global oil and gas demand could grow until 2050, the International Energy Agency … Read more
Summary Chevron 2030 plan underscores efficiency drive Oil and gas production to grow 2%-3% annually Chevron to reduce capex, increase cost-reduction target HOUSTON, Nov 12 (Reuters) – Chevron said on Wednesday that it plans to grow free cash flow by more than 10% annually through 2030 and increase oil and gas production, while further reducing … Read more
(Reuters) – Oil prices fell 1% on Wednesday, weighed down by oversupply in the market despite expectations that an end to the longest-ever U.S. government shutdown could boost oil demand. Brent crude futures slipped 66 cents, or 1%, to $64.50 a barrel by 1232 GMT after gaining 1.7% on Tuesday. U.S. West Texas Intermediate crude was down … Read more
Oil and gas producer Occidental Petroleum said on Tuesday it expects flat production growth in 2026 and spending to fall below current-year levels, as crude prices slide. U.S. shale producers are weathering a global oil slump, with prices hovering in the low $60-per-barrel range, pressured by OPEC+ output hikes and slowing global demand. Benchmark Brent … Read more
(Reuters) – Oil prices fell 1% on Wednesday, weighed down by oversupply in the market despite expectations that an end to the longest-ever U.S. government shutdown could boost oil demand. Brent crude futures slipped 66 cents, or 1%, to $64.50 a barrel by 1232 GMT after gaining 1.7% on Tuesday. U.S. West Texas Intermediate crude was down … Read more
bal’s third long-term contract with a Japanese company 6.75 MTPA of long-term contracts signed by Venture Global to date in 2025 ARLINGTON, Va.–(BUSINESS WIRE)–Today, Venture Global, Inc. (NYSE: VG) and Mitsui & Co., Ltd. of Japan announced the execution of a new, long-term liquefied natural gas (LNG) Sales and Purchase Agreement (SPA). Under the SPA, … Read more
U.S. natural gas futures rose 5% on Tuesday, extending gains to an eight-month high, as traders bet on another round of cold weather in December and firmer power demand, even as temperatures are expected to moderate next week. Front-month gas futures for December delivery on the New York Mercantile Exchange was up 21.7 cents, or … Read more
(Reuters) – Oilfield services provider Baker Hughes will supply key equipment for the proposed Alaska LNG project that aims to build a pipeline and terminal to send natural gas from the North Slope of Alaska for export to Asia and other markets, the project’s top developer said on Monday. PROJECT DETAILS Baker Hughes will supply … Read more
WASHINGTON, Nov 10 (Reuters) – U.S. Energy Secretary Chris Wright said on Monday the biggest use of the Department of Energy’s Loan Programs Office will be for nuclear power plants. The LPO has hundreds of billions of dollars in financing aid, including loan guarantees for projects that struggle to get bank loans. During President Donald … Read more
(Reuters) – U.S. natural gas futures scaled an eight-month peak on Monday, buoyed by robust flows to liquefied natural gas (LNG) export plants and cold weather. Front-month gas futures for December delivery on the New York Mercantile Exchange rose 0.5%, to settle at $4.338 per million British thermal units (mmBtu). The contract had climbed to … Read more
WASHINGTON–(BUSINESS WIRE)–Alaska LNG, majority owned and developed by Glenfarne Alaska LNG, LLC (Glenfarne), and Baker Hughes (NASDAQ: BKR), an energy technology company, today announced a strategic alliance to advance the Alaska LNG Project. Glenfarne has selected Baker Hughes as its supplier for main refrigerant compressors for the LNG terminal and power generation equipment for the … Read more
Summary Oil prices have held in a $60 to $70 range for months Trump triggered Russia sanctions when prices were at lower end But this range could extend an oversupply for longer (Reuters) – Oil prices have oscillated in a relatively narrow range of $60 to $70 a barrel in recent months, reflecting both warnings … Read more
(Reuters) – Oil prices rose on Tuesday due to the impact of the latest U.S. sanctions on Russian oil, although oversupply concerns limited gains. Brent crude futures were up 67 cents, or 1.1%, to $64.73 a barrel at 1333 GMT. U.S. West Texas Intermediate crude was at $60.78 a barrel, up 65 cents, or 1.1%. … Read more
Shell has challenged its defeat in an arbitration case against U.S. liquefied natural gas producer Venture Global in the New York Supreme Court, according to a legal filing seen by Reuters, weeks after rival BP won a similar $1 billion-plus arbitration. The arbitration case was over Venture Global’s failure to deliver liquefied natural gas under … Read more
RIO DE JANEIRO, Nov 10 (Reuters) – Organized workers from Brazilian state-run oil firm Petrobras (PETR3.SA), opens new tab rejected a work agreement offered by the company and its subsidiaries, which prompted the approval of a “state of strike,” the workers’ union said in a statement on Monday. According to the union, the motion approved … Read more
(Reuters) – Venture Global swung to a profit in the third quarter, it reported on Monday, as record liquefied natural gas exports and a flurry of new long-term supply deals boosted earnings. The company’s shares jumped 10% in premarket trading. The U.S. exported a record 10.1 million metric tons of LNG in October, making it the … Read more
Summary Chevron to provide guidance through end of this decade Oil firm has opportunities for growth after Hess Investors eye updates on Kazakhstan talks and new power ventures Reuters) – When Chevron executives and top shareholders convene in New York City on Wednesday for the oil producer’s investor day, portfolio managers will be eager to hear … 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) – 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
Across North America — from oil and gas facilities in Texas to chemical plants and offshore platforms — robotics are transforming how industrial operations function. As these systems increasingly share space with human workers, one question becomes critical: are they certified to operate safely? The Critical Role of Certification Modern industrial robots are no longer … Read more
Summary US Senate advances bill to end federal shutdown Flight delays, cancellations in the US accelerate Oversupply concerns persist as crude inventories rise LONDON, Nov 10 (Reuters) – Oil prices were steady on Monday as investors assessed a potential end to the U.S. government shutdown and concerns around oversupply in the crude market. Brent crude … 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 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
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
(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) – 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 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
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
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
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
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
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
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