US dependence on Canada’s oil should deter Trump tariffs, industry says
Canada’s energy industry does not expect U.S. President-elect Donald Trump’s broad plans for protectionist trade measures will include tariffs on Canadian oil imports, because many U.S. refineries rely...
View ArticleOPEC again cuts 2024, 2025 oil demand growth forecasts
OPEC cut its forecast for global oil demand growth this year and next on Tuesday, highlighting weakness in China, India and other regions, marking the producer group’s fourth consecutive downward...
View ArticleOil pares losses on tight supply but cloudy demand caps gains
Oil prices inched higher on Wednesday underpinned by signs of near-term supply tightness but held near their lowest in two weeks, a day after OPEC downgraded its forecast for global oil demand growth...
View ArticleUS oil industry urges Trump to ditch Biden climate policies
The U.S. oil and gas industry on Tuesday called on President-elect Donald Trump to scrap many of President Joe Biden’s policies aimed at fighting climate change, saying the measures threaten jobs,...
View ArticleMiddle East Crude-Dubai halts 3-day decline; PetroChina, Total snap up cargoes
Middle East crude benchmark Dubai edged up on Wednesday, halting a three-day decline, supported by firm demand from Total and PetroChina. A flurry of bids from the two companies led to the delivery of...
View ArticleMexico to present long-term Pemex plan as government readies bylaw changes
Mexico’s new government is expected Nov. 13 to present its long-term plan for Pemex as it prepares to modify the state oil and gas company’s bylaws to streamline its operations. Pemex management has...
View ArticleKazakhstan’s largest oilfield cuts output by fifth since Oct. 26, sources say
Kazakhstan’s biggest oil field Tengiz, operated by U.S. major Chevron CVX.N, has reduced oil output by around 21% on average since Oct. 26 to 62,600 metric tons per day, or 496,200 barrels per day,...
View ArticleAustralia’s Jan NWS condensate seen stable-to-slightly stronger, upside...
Australia’s North West Shelf condensate cargoes scheduled for January loading were valued stable to slightly higher, though the upside would likely be limited as the complex continues to be impeded by...
View ArticleOil demand to fall to 80-100 million bpd by 2035, says BP’s US chief economist
Global oil demand will fall to around 80 million to 100 million barrels per day by 2035 in a net-zero environment, BP’s BP.L chief U.S. economist told an energy conference in Dallas on Wednesday. Crude...
View ArticleOil demand to fall to 80-100 million bpd by 2035, says BP’s US chief economist
Global oil demand will fall to around 80 million to 100 million barrels per day by 2035 in a net-zero environment, BP’s (BP.L), opens new tab chief U.S. economist told an energy conference in Dallas on...
View ArticleCOP29: The Oil & Gas Decarbonization Charter publishes its first report to...
The Oil & Gas Decarbonization Charter (OGDC) published on November 11, its Baseline Report, setting a foundation to help prioritize and track progress on emissions reductions made by the 54 oil and...
View ArticleIndia shaping up as refining hub, to rely on fossil fuels until 2040, oil...
India, the world's No.3 oil importer and consumer, is expected to rely on fossil fuels until at least 2040 and is positioning itself as a refining hub, Oil Minister Hardeep Singh Puri told Reuters on...
View ArticleU.S. associated natural gas production increased nearly 8% in 2023
U.S. production of associated-dissolved natural gas, or associated natural gas, increased 7.9% in 2023 compared with 2022, averaging 17.1 billion cubic feet per day (Bcf/d) last year, according to data...
View ArticleOil could plunge to $40 in 2025 if OPEC unwinds voluntary production cuts,...
Oil prices may see a drastic fall in the event that oil alliance OPEC+ unwinds its existing output cuts, said market watchers who are predicting a bearish year ahead for crude. “There is more fear...
View ArticleOil prices broadly flat after falling on dollar surge
Oil prices were largely steady on Thursday, with traders holding fire after declines earlier this week on a stronger U.S. dollar and worries about rising supply amid slow demand growth. Brent crude...
View ArticleCOP29: TotalEnergies deploys continuous, real-time methane emissions...
As part of its ambition to aim for near-zero methane emissions by 2030, TotalEnergies announces that the Company is going a step further in the monitoring and reduction of its methane emissions with...
View ArticleInflation pushes Norway’s oil, gas sector to record investments
Investment in Norwegian oil and gas projects will rise to a record this year and may increase further in 2025 as inflation pushes up the costs of development,a national statistics office (SSB) survey...
View ArticleEquinor: Oil and gas discovery in the North Sea
Equinor has struck oil and gas near the Fram field in the North Sea. The discovery is estimated at between 13 and 28 million barrels of oil equivalent. An exploration well with sidetrack has been...
View ArticleMiddle East Crude-Benchmarks little changed; Qatar tenders eyed
Middle East crude benchmarks Oman, Dubai and Murban were little changed on Thursday as traders waited for the results of QatarEnergy tenders. The producer has offered five al-Shaheen crude cargoes for...
View ArticleRenewed momentum for emissions trading systems as tax-based carbon pricing...
Reduced energy excise tax rates in many countries in response to the recent energy crisis led to lower implicit carbon prices in 2023, but the development of new emissions trading schemes should lead...
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