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COMMENTARY: 3 Undeniable Facts About Climate For #COP29 – Alex Epstein

CDN and International News, Energy Commentary, Energy Topics & Technology, Environment, Latest / By

We need energy freedom to increase climate resilience and drive energy innovation By Alex Epstein Climate debates often focus on exactly how much rising CO2 levels will impact the global climate.The truth is, there is a lot of uncertainty here.What is certain is that we need energy freedom to achieve climate resilience and energy innovation. Here …

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What Happens When Russian Gas to Europe via Ukraine Stops?

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

Austria’s energy company OMV was informed by Gazprom that the Russian gas producer would halt deliveries of natural gas via Ukraine to OMV from 0500 GMT on Nov. 16 following OMV winning an arbitration case. Supplies of Russian gas to Europe via Ukraine may completely stop from Jan. 1 2025 after the current five-year deal …

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TotalEnergies, BP, Equinor and Shell Commit $500 Million to Boost Energy Access

CDN and International News, Latest / By

TotalEnergies, BP, Equinor and Shell commit $500 million to boost energy access PARIS, Nov 15 (Reuters) – Oil and gas majors TotalEnergies, BP, Shell  and Equinor  pledged on Friday to invest $500 million to increase access to affordable energy, primarily in sub-Saharan Africa, south and southeast Asia. That is about 0.7% of some $70 billion in net …

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Global Oil Market Faces a Million-Barrel Glut Next Year, Says IEA

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

Supply from the U.S., Brazil, Canada and Guyana is set to grow Oil drums sit stacked in a warehouse at Jacobi Oil Service, Inc. in Floyds Knobs, Ind. Global oil markets are facing a surplus next year as Chinese demand continues to falter. Photo by Luke Sharrett /Bloomberg Global oil markets face a surplus of …

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Ovintiv to Buy Oil-Rich Assets in Canada’s Montney Shale for USD$2.38 Billion

CDN and International News, Latest, Oil / By

Shale producer Ovintiv announced a $2.38-billion all-cash acquisition of oil assets from Paramount Resources on Thursday, expanding its presence in Canada’s Montney shale play. The shale formation, a 50,000-square-mile (32-million acre) area spanning northern Alberta and British Columbia, is considered one of Canada’s most attractive oil and gas-producing regions due to its strong economics. “The assets come with …

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Inflation Pushes Norway’s Oil, Gas Sector to Record Investments

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

Summary Statistics office conducts oil, gas investment survey 2024 forecast steady vs August, 2025 outlook raised Rising costs drive up price of new field developments (Reuters) – 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, …

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World Faces Oil Surplus in 2025 on Weak Demand, IEA Says

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

Summary Sees supply exceeding demand by over 1 mln bpd in 2025 IEA raises 2024 demand growth forecast by 60,000 bpd Leaves 2025 demand growth projection steady at 990,000 bpd (Reuters) – Global oil supply will exceed demand in 2025 even if OPEC+ cuts remain in place, the International Energy Agency (IEA) said on Thursday, …

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Trump Pick Rubio Could Harden Oil Sanctions on Iran, Venezuela

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

By Timothy Gardner and Vivian Sequera Stricter targeting of Iranian oil could be tempered by China concerns Trump will need to determine if sanctions can help achieve his goals Foreign ports, refineries processing Iran exports could be targeted WASHINGTON/CARACAS Nov 13 (Reuters) – President-elect Donald Trump’s pick of U.S. Senator Marco Rubio for secretary of …

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Iran Ready for Possible Oil Export Curbs after Trump Election

CDN and International News, Latest, Oil / By

Iran has made plans to sustain its oil production and export and is ready for possible oil restrictions from a Trump administration in the U.S., Oil Minister Mohsen Paknejad said on Wednesday, according to the oil ministry’s news website Shana. In 2018, then-U.S. President Donald Trump withdrew from a 2015 nuclear pact with Iran and …

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Biden Officials Ask EU to Align Methane Rules with US to Ease LNG Flows

CDN and International News, Energy Topics & Technology, Latest, Methane / By

Summary Biden administration seeks EU alignment on methane standards for LNG imports EU law to impose methane limits on oil and gas imports from 2030 Trump plans to reverse Biden’s methane regulations BAKU, Azerbaijan, Nov 13 (Reuters) – President Joe Biden’s administration has asked the European Union to ensure liquefied natural gas shipments that meet …

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