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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

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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

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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

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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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Jobs to the Wind: Siemens Energy’s Gamesa to Cut 4,100 jobs, CEO Says in Staff Letter

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

(Reuters) – Siemens Energy’s wind turbine division Siemens Gamesa is planning to cut 4,100 jobs, or around 15% of its workforce, the unit’s Chief Executive Jochen Eickholt said in an internal letter to staff seen by Reuters on Tuesday. “Our current situation demands adjustments that go beyond organizational changes. We have to adapt to lower business …

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NOW YOU KNOW: Why Does OPEC+ Often Clash Over Oil Production Capacity?

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

(Reuters) – OPEC+ is working to agree oil production capacity for its member countries by the end of 2024, an issue that has created tensions in the past because each nation’s output target is calculated from its notional capacity. Members of OPEC+ – comprising OPEC and allies such as Russia – tend to push for …

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Coal’s Australian Reprieve Is an Energy Transition Reality Check

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

Bloomberg Australia’s leaders like to portray the nation as a trailblazer in the energy transition, touting a solar buildout that has installed panels on almost one in three rooftops and rapid growth in battery storage. The more valuable lesson, though, may be in its struggle with coal. Eraring, the country’s largest power plant, burns through as much as 6 million …

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