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Chevron Australia Confirms Full LNG Production Has Resumed at Gorgon Gas Facility

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

Chevron has resumed full liquefied natural gas (LNG) production at its Gorgon Gas facility in Australia after a temporary outage on June 3, a spokesperson said on Tuesday. “The outage was caused by a minor fault that was safely resolved and production has resumed,” the spokesperson said. This temporary outage came after one of the …

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The Cart Before the Horse: Countries’ Plans Not Yet Aligned With Tripling Renewables Capacity Goal

CDN and International News, Latest, Renewable Energy, Solar, Wind / By

(Reuters) – Countries’ climate plans are not yet in line with a goal to triple renewable energy capacity worldwide by 2030 which was set at the COP28 climate summit in Dubai last year, a report by the International Energy Agency (IEA) said on Tuesday. WHY IT’S IMPORTANT The target would involve increasing installed renewable energy …

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Saudi Arabia Kicks Off Landmark Aramco Share Sale to Raise up to $13 Billion

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

Saudi Arabia kicked off a secondary share sale in oil giant Aramco on Sunday, a landmark deal that could raise up to $13.1 billion in a major test of international appetite for the kingdom’s assets. The banks on the deal will take institutional orders through Thursday and will price the shares the following day, with …

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Coastal GasLink Looks to Borrow $4 billion in Canada’s Biggest Corporate Bond Deal

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

The funds will refinance debt supporting the construction of the 670-kilometre natural gas pipeline, sources told Bloomberg Bloomberg News A Canadian pipeline that’s partially owned by KKR & Co. is set to kick off what’s likely to be the biggest corporate bond deal in the country’s history. Coastal GasLink LP, a pipeline project in Western Canada, is …

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Saudi Arabia Sets New Test for International Interest with $13.1 Billion Aramco Sale

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

(Reuters) – Saudi Arabia and its bankers will on Sunday morning start taking orders for as much as $13.1 billion worth of shares in its energy giant Aramco , in a major test of international investor interest in its market. In a long-anticipated announcement on Thursday, the kingdom and Aramco detailed plans to sell up to a 0.7% …

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OPEC+ Working on Complex Production Cut Deal for 2024-2025

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

(Reuters) – OPEC+ is working on a complex deal to be agreed at its meeting on Sunday that will allow the group to extend some of its deep oil production cuts into 2025, three sources familiar with OPEC+ discussions said on Thursday. OPEC+ has made a series of cuts since late 2022 amid rising output …

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Canada Increases Loan Guarantees for Trans Mountain to C$19 Billion

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

The Canadian government has guaranteed another C$1 billion ($731 million) in commercial loans for the Trans Mountain pipeline expansion, taking the total government-backed loan facility to C$19 billion, Trans Mountain’s quarterly earnings statement showed on Thursday. The expansion project, which has so far cost C$34 billion, nearly triples capacity to ship oil from Alberta to …

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Trinidad Court Recognizes ConocoPhillips’ $1.3 billion Claim Against Venezuela

CDN and International News, Latest / By

U.S. oil firm ConocoPhillips won a Trinidad & Tobago court order granting it the right to enforce a $1.3 billion claim against Venezuela for past expropriations, casting a shadow over a proposed offshore natural gas venture between the two countries. Conoco has the right to enforce the order by seizing any future compensation Trinidad may …

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Saudi Aramco: The Oil Colossus

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

(Reuters) – Saudi Arabia may announce a landmark secondary share offering in oil giant Aramco  later on Thursday, pending final approval from Crown Prince Mohammed bin Salman, people with knowledge of the matter said. The landmark sale follows Aramco’s record IPO nearly five years ago, as the kingdom pushes ahead plans to diversify its economy away from …

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Mexico to Resume Oil Exports to Cuba After 3-Month Pause

CDN and International News, Latest / By

Mexico plans to resume oil shipments to Cuba after a three-month pause, shipping data showed on Wednesday, a move that could help ease power outages and worsening fuel scarcity on the island. Cuba desperately needs the fuel. Blackouts that were occasional on the communist-run island have become routine in recent months as the country struggles …

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