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 …
LNG Prices Will Drop in 2026 to Absorb Supply Surge, But by How Much?: Russell 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 …
(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 …
BP in Active Talks With Stonepeak Over Castrol Sale, Sources Say 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 …
EIA Raises US Oil Output Forecast, Says Oversupply Will Weigh on Prices 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 …
Billions Flow to US Nuclear Sector With Payoff Still Years Away 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 …
The IEA Isn’t So Sure About Peak Oil Anymore: Energy Daily 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 …
Chevron Picks Texas for First AI Data Center Power Project 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 …
IEA Says Questions Linger on Who Will Scoop Up New LNG Wave 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 …
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 …
OPEC Sees Balanced Oil Market in 2026, Moves Further Away from Deficit Projection Read More »
