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Bllomberg News Today, reporter Alex Longley looks at the byproducts of oil output that are making it harder to gauge overall supplies. Dig into predictions for global oil production and you’ll see the growing importance of a niche gassy fuel. Since May, the US government’s 2025 estimates for global crude output have been pared back …
(Reuters) – OPEC+ is debating whether to raise oil output in April as planned or freeze it as its members struggle to read the global supply picture because of fresh U.S. sanctions on Venezuela, Iran and Russia, eight OPEC+ sources said. OPEC+ usually confirms its supply policy one month in advance to have time to …
Sanctions, Tariffs Make OPEC+ Hesitant on April Oil Hike, Sources Say Read More »
(Reuters) – Asia’s crude oil imports are off to a weak start in 2025, as top importer China continues to buy less and new sanctions put the brakes on cargoes from the continent’s top supplier Russia. Asia’s imports for the first two months of the year are on track to be 26.17 million barrels per …
Asia’s Falling Crude Oil Imports Challenge 2025 Demand Forecasts: Russell Read More »
Since it first imposed sanctions on Venezuela’s energy sector in 2019, the United States has granted individual licenses to some oil companies that allow them to export the South American country’s oil to specific destinations.Washington had imposed the sanctions over reports by international observers of irregularities in elections that have repeatedly kept President Nicolas Maduro …
US Licenses and Authorizations to Venezuela’s Oil Sector Read More »
U.S. imports of crude oil from Venezuela averaged 222,000 barrels per day (bpd) in the first 11 months of 2024, according to U.S. Energy Information Administration data, making it the fourth largest crude supplier to the United States.While Venezuela’s oil accounted for only 3.5% of total U.S. crude imports in November, it was about 13% …
Top Buyers of Venezuelan Crude Oil in the United States Read More »
CALGARY, Feb 26 (Reuters) – The Canadian energy sector has proposed several major oil pipeline projects in the last decade, but only the Trans Mountain expansion project was completed. Here, a look at three other pipelines that never came to be: Energy East – A proposed C$15.7-billion project (US$11.0 billion), Energy East would have carried …
MADRID, Feb 20 (Reuters) – Spanish energy company Repsol (REP.MC) cut its 2030 target for green hydrogen production by up to 63%, Chief Executive Josu Jon Imaz said on Thursday, highlighting the challenges of a high-cost industry heavily reliant on subsidies. Repsol now expects to achieve between 0.7 gigawatts (GW) and 1.2 GW of electrolyser …
Repsol Cuts Green Hydrogen Target by as Much as 63% Read More »
BP cuts renewable investment and boosts oil and gas in strategy shift Summary • BP boosts oil and gas investment to $10 bln annually • Cuts transition spending by over $5 billion yearly • Reviewing Castrol, targets $20 billion in divestment (Reuters) – BP (BP.L), opens new tab slashed planned investment in renewable energy and …
BP Cuts Renewable Investment and Boosts Oil and Gas in Strategy Shift Read More »
The anti-oil and gas policies of the Liberal-NDP government have driven investment away from Canada Summary • Canada sends 90% of oil exports to US refiners • Two east-west pipeline projects canceled in last decade • Overruns pushed Trans-Mountain expansion costs to C$34 bln (Reuters) – The Canadian government would have to play a significant …
By Grant Smith The International Energy Agency, the west’s energy watchdog, is considering reviving one of its long-term energy demand scenarios after criticism from US Republican leaders. The IEA’s decision in 2020 to exclude the so-called Current Policies Scenario from its reports prompted accusations that the agency was letting its commitment to net zero climate …
IEA Considers Reviving Dropped Energy Scenario After US Backlash Read More »
