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His company, Irving Oil, owns more than 900 gas stations ‘He’ll be considered one of the great oilmen in North America’ Arthur L. Irving, the Canadian billionaire who modernized the nation’s largest refinery, expanded a network of service stations bearing his family’s name and helped win support for a cross-country oil pipeline, has died. He …
Arthur L. Irving, Billionaire Canadian Oilman, Dies at 93 Read More »
Equinor now plays an outsized role in the ups and downs of the continent’s gas prices When the world’s top gas traders met in late April at a canal-side hotel on the outskirts of Amsterdam, the atmosphere was business-as-usual: coffee, croissants and wrangling over deals for the upcoming winter. Then came news of a leak …
Europe’s Gas Supply Once Again Hinges on One Company Read More »
(Reuters) – OPEC will stop publishing a calculation of the world’s demand for its own crude in its monthly oil report, two sources close to the matter said, focusing instead on forecasts for demand for oil from the wider OPEC+ group. The change reflects what has become long-standing cooperation between the members of the Organization …
OPEC Switches to ‘Call on OPEC+’ in Global Oil Demand Outlook Read More »
Oil’s Fragile Outlook Spells Weaker Prices in 2025 Demand growth is set to cool and will be more than satisfied by a surge in supply. Bloomberg The emerging outlook for global oil markets next year suggests prices are set to come under pressure. In the past few weeks, forecasters such as the International Energy Agency have rolled out initial …
Oil’s Fragile Outlook Spells Weaker Prices in 2025 Read More »
Church of England is among shareholders pressing UK bank ‘Stop funding this damaging and dangerous fuel’: ShareAction A group of 24 institutional investors with a combined $1.2 trillion of assets wants Barclays Plc to stop financing fracking, and argued a recent pledge by the British bank to restrict financing for companies that focus exclusively on fossil-fuel exploration …
Barclays Faces Investor Pressure to Halt Fracking Finance Read More »
(Reuters) – As Canada’s oil industry celebrates the start of the Trans Mountain pipeline expansion (TMX), some company executives and analysts are already warning that long-term production growth plans will depend on new takeaway capacity becoming available. TMX, which started commercial operations last week after years of delays, will ship an extra 590,0000 barrels per day (bpd) of …
Canada’s Pipeline Squeeze Set to Return Despite Trans Mountain Start-Pp Read More »
Australia’s resources minister said on Thursday she backs the long-term exploration of potential natural gas projects, setting up a potential clash with opposition lawmakers and some in the incumbent Labor Party that oppose its use. Australia, one of the world’s largest producers of liquefied natural gas (LNG), is committed to reducing its emissions to net …
Australia Backs Long-Term Gas Exploration Despite 2050 Climate Goals Read More »
Goldman Sachs on Wednesday said they no longer expect OPEC+ to announce a partial unwind of voluntary production cuts in June. The bank said inventories have recently surprised to the upside, and as a result, their model now estimates only a 37% chance of a production increase decision in June. “While our interpretation of OPEC+ …
Goldman Sachs Sees OPEC+ Unlikely to Raise Production at June Meeting Read More »
BP softened the language on its pledge to cut its 2030 oil and gas output in an effort to reassure investors over its energy transition strategy and narrow a gaping value gap with rivals. CEO Murray Auchincloss has in recent months pivoted the London-based firm’s strategy to focus heavily on returns. He has been less …
BP Softens Tone on 2030 Oil Output Cut to Reassure Investors Read More »
Germany prepares for gas grids and boilers to become redundant Other European countries are still investing in gas networks For the past four years, the Bavarian city of Augsburg has been warning homeowners that gas supplies could be switched off by 2030 as fossil fuels are phased out. It’s a blunt message on the potentially …
Europe Braces for Billions in Writedowns at Stranded Gas Assets Read More »
