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Exxon Plans to Ramp Up Guyana Gas Output, Sees Potential for Exports

CDN and International News, Conventional Energy, Latest, Natural Gas / By

Guyana has previously been more focused on oil production Fertilizer, alumina, data centers all potential uses of gas By Denis Chabrol Exxon Mobil Corp. outlined plans to increase natural gas production from oil-focused Guyana and is considering options to export the fuel to global markets, country manager Alistair Routledge said Wednesday. Exxon’s developments off the …

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Canada’s Cenovus Energy Profit Falls on Refining Weakness, Lower Oil Prices

CDN and International News, Conventional Energy, Latest, Oil / By

Cenovus Energy’s Q4 profit falls due to lower prices, weak refining margins Cenovus’ U.S. refining revenues drop amid required turnaround work Canadian energy sector faces uncertainty with U.S. tariffs on imports Feb 20 (Reuters) – Canadian oil and gas producer Cenovus Energy (CVE.TO) anticipates a return this spring to more normal market conditions in the …

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In a Major Shift, Japex to Prioritise Oil and Gas Investment Through 2030

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Japan Petroleum Exploration (Japex) is prioritising investment in oil and gas exploration and production (E&P) through 2030 – revising an earlier plan to aggressively expand its renewables businesses, its president said. “For now, the investment focus will remain on oil and gas exploration and production… as securing a fair return from renewable energy sources such …

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Turkey Says ‘Nothing Yet’ on Iraq Oil Pipeline Restart

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, Pipelines / By

ANKARA, Feb 19 (Reuters) – Turkey has yet to receive confirmation from Iraq on the resumption of oil flows through the Iraq-Turkey pipeline, Turkish Energy Minister Alparslan Bayraktar told Reuters on Wednesday. Iraq’s oil minister said on Monday that oil exports from the semi-autonomous Kurdistan region will resume next week, resolving a near two-year dispute …

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China’s Clean Energy Investments Nearing Scale of Global Fossil Investments, Researchers Find

Batteries, CDN and International News, Electric Vehicles, Energy Topics & Technology, Latest, Renewable Energy, Solar / By

BEIJING, Feb 19 (Reuters) – China invested 6.8 trillion yuan ($940 billion) in clean energy in 2024, approaching the $1.12 trillion in global investment in fossil fuels, according to a new analysis for U.K.-based research organisation Carbon Brief. That was despite growth in China’s clean energy investments slowing to 7% from 40% in 2023 amid …

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Brazil to Join OPEC+, Group of Major Oil-Exporting Nations

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

BRASILIA, Brazil (AP) — Brazil’s government on Tuesday approved joining OPEC+, a group of major oil-exporting nations, signaling the country’s evolution into a major oil state just nine months ahead of hosting the United Nations’ annual climate summit. The National Council for Energy Policy’s approval came in response to an official invitation in 2023. The …

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OPEC+ Considers Delay to April Oil Supply Increases

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

Oil producer group OPEC+ is considering pushing back a series of monthly supply increases due to begin in April despite calls from U.S. President Donald Trump to lower prices, Bloomberg News reported on Monday citing delegates.Global oil markets remain too fragile to revive production now, the report cited one delegate as saying, adding that another …

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Shortage of Heavy Oil Is Proving to Be a Boon for OPEC

CDN and International News, Conventional Energy, Latest, Oil / By

The scrum to replace Russian supply is sparking bumper premiums for Middle Eastern crude. Bloomberg News Right now in the crude market there are two contrasting stories. For the grades that underpin Brent and West Texas Intermediate futures, things aren’t looking great. Refineries in Europe and the US are entering an annual period of maintenance that acts …

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Russia Seen Struggling to Reach its LNG Targets, Experts Say

CDN and International News, Conventional Energy, Latest, LNG, Natural Gas / By

(Reuters) – Exports of Russia’s liquefied natural gas (LNG) will likely not exceed 67 million metric tons by 2030, falling far short of its 100 million target due to international sanctions, experts said at an industry conference on Friday. Russia has focused on development of LNG, which could be delivered by sea tankers, as its …

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Latest US Sanctions on Russia Throw Global Oil Trade Into Disarray

CDN and International News, Latest, LNG, Natural Gas, Oil, US News / By

Tightened U.S. sanctions on Moscow have disrupted a roaring trade in discounted Russian oil to China and India, reviving demand for Middle Eastern and African crudes, roiling shipping markets and driving up oil prices. Washington’s January 10 sanctions targeted tankers carrying Russian oil in a push to more effectively limit Moscow’s oil revenue, the aim …

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