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For the first time, Canada’s two main railway companies – Canadian National Railway and Canadian Pacific Kansas City – are on the verge of a simultaneous labor stoppage that could inflict billions of dollars’ worth of economic damage. WHY ARE BOTH COMPANIES POISED TO STOP? Contract talks between the Teamsters union and the companies usually …
Why Canada is on the Verge of an Unprecedented Rail Labor Stoppage Read More »
Summary Statistics office compiles oil, gas investment survey Norway oil investments to hit record NOK 257 bln in 2024 (Reuters) – Norwegian oil and gas investments are expected to hit a record this year and stay at elevated levels in 2025, driven by ongoing field developments and rising inflation, a national statistics office (SSB) survey …
Norwegian Oil Investments to Hit Record High as Inflation Drives Up Costs Read More »
By Noah Browning (Reuters) – The International Energy Agency (IEA) kept its 2024 global oil demand growth forecast unchanged on Tuesday but trimmed its 2025 estimate, citing the impact of a weakened Chinese economy on consumption. The report from the IEA, which advises industrialised countries, is the second this week to flag that a sluggish economy …
IEA Trims 2025 Oil Demand Outlook as China Offsets Global Gains Read More »
Company pushes further into ranks of biggest energy producers Acquisition follows C$1.5 billion Bonavista deal last year Tourmaline Oil Corp. agreed to buy Crew Energy Inc. for C$1.3 billion ($947 million) as Canada’s biggest gas driller pushes to grow production in anticipation of rising gas demand for power and exports. The all-stock transaction is valued at approximately C$6.69 …
Tourmaline Oil to Buy Crew Energy in $947 Million Deal Read More »
There’s little doubt that avoiding the most dire effects of climate change requires phasing out power stations that burn coal, the biggest source of carbon dioxide emissions. Yet the opposite is happening. Even as temperatures on Earth smash new records and scientists warn the climate is reaching dangerous tipping points, the amount of coal being …
We’re Burning More Climate-Warming Coal Than Ever. Why? Read More »
The IEA’s divisive mission to decide the future of oil Oil companies accuse it of playing climate politics Author of the article: Financial Times – View More Financial Times Energy Articles Here Malcolm Moore in London and Jamie Smyth in New York Fatih Birol is executive director of the International Energy Agency. Birol argues that …
The IEA’s Divisive Mission to Decide the Future of Oil Read More »
Back in 2007, the Alberta and federal governments established a task force on carbon capture and storage (CCS) as a way of reducing emissions from oil, gas, and energy operations. That led to a report in 2008 that said: “CCS is seen as a technological solution that allows Canada to continue to increase its energy …
(Reuters) Iran has sent small shipments of crude oil to new destinations such as Bangladesh and Oman, according to shipping sources and data, the latest sign of Tehran pushing to sustain output at close to its highest in five years. Oil sales are Iran’s major revenue source and the country has been looking for ways …
Iran’s Oil Finds New Destinations in Tehran Export Push, Sources Say Read More »
Summary Asian petrochemical margins slide to losses in 2024 Europe, Asian plant consolidation underway Asian output cuts limited by refinery ties (Reuters) – Petrochemical producers in Europe and Asia are in survival mode as years of capacity build-up in top market China and high energy costs in Europe have depressed margins for two consecutive years, …
Survival of the Fittest: Petrochemical Makers Battle Global Glut Read More »
Summary Chinese, US demand seen lagging forecasts Not clear if Q3 demand is growing fast, two OPEC sources say Worries of US recession add to pressure on oil LONDON, Aug 9 (Reuters) – Global oil demand growth needs to accelerate in coming months or the market will struggle to absorb an increase in oil supply that OPEC+ …
Global Oil Demand Needs to Rise Faster to Absorb OPEC+ Hike Read More »
