CDN and International News - Today in Oil and Gas

Canadian Government Wants Energy Sector to Cut Emissions by up to 35% Below 2019 Levels

Nov 4 (Reuters) – The Canadian government on Monday released draft regulations that would cap emissions of greenhouse gases from the oil and gas sector by 35% from 2019 levels, slightly less than initially envisaged. The regulations would create a cap-and-trade system designed to recognize better-performing companies and give an incentive to higher-polluting firms to make their production processes …

Canadian Government Wants Energy Sector to Cut Emissions by up to 35% Below 2019 Levels Read More »

Oil Rollercoaster: OPEC Actions Increasing Volatility and Hampering New Investment in Oil and Gas, CEO Says

(Reuters) – OPEC+ oil supply cuts and recent efforts to unwind them have increased volatility in energy markets and hampered investment in new production, the CEO of Italian energy company Eni said on Monday. Speaking at an industry event in Abu Dhabi, Claudio Descalzi said he expected high volatility in the energy markets experienced in …

Oil Rollercoaster: OPEC Actions Increasing Volatility and Hampering New Investment in Oil and Gas, CEO Says Read More »

Venezuela’s Oil Exports Hit a 4-Year Peak on Higher Output, Sales to US, India

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

HOUSTON/MARACAY, Nov 1 (Reuters) – Venezuela’s oil exports rose to a four-year high, approaching 950,000 barrels per day in October, boosted by growing crude output and more sales to India and the United States, according to shipping data and documents from state firm PDVSA. The increase happened despite a large storage terminal fire last month, …

Venezuela’s Oil Exports Hit a 4-Year Peak on Higher Output, Sales to US, India Read More »

Iran Braces for Trump Victory, Fearing More Israeli Strikes, Western Sanctions

CDN and International News, Latest, Natural Gas, Oil / By mark

Iran’s leadership and allies are bracing for what they would regard as a dreadful outcome of the imminent U.S. presidential election: A return to power of Donald Trump. Opinion polls suggest the Republican Trump and Democratic Vice President Kamala Harris remain locked in a close contest. But Iranian leaders and their regional allies in Lebanon, …

Iran Braces for Trump Victory, Fearing More Israeli Strikes, Western Sanctions Read More »

Exxon Agrees to Sell Argentina Shale Oil Assets to Pluspetrol

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

Deal still needs the approval of Neuquen Province, person says Exxon is exiting Vaca Muerta shale patch to focus elsewhere Exxon Mobil Corp. has agreed to sell most of its assets in Argentina’s Vaca Muerta shale patch to Pluspetrol SA, according to people familiar with the matter. The province of Neuquen, where the assets are located, has …

Exxon Agrees to Sell Argentina Shale Oil Assets to Pluspetrol Read More »

China’s BYD Revenue Eclipses Tesla for First Time as EV Giants Go Head to Head

CDN and International News, Conventional Energy, Electric Vehicles, Energy Topics & Technology, Latest, Oil / By mark

Both electric carmakers have emerged as breakout threats to legacy automakers Bloomberg News BYD Co. Ltd. notched up another win over Tesla Inc. on Wednesday, reporting quarterly revenue that beat Elon Musk’s carmaker for the first time since the pair have gone head-to-head in global electric vehicles sales. Revenue for China’s best-selling automaker soared 24 per cent year-on-year to 201.1 billion …

China’s BYD Revenue Eclipses Tesla for First Time as EV Giants Go Head to Head Read More »

OPEC+ Could Delay December Oil Output Hike, Sources Say

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

By Alex Lawler, Olesya Astakhova and Dmitry Zhdannikov Output hike of 180,000 bpd due to proceed in December Decision on delay could come as soon as early next week Sources cite concern about economic backdrop and demand LONDON/MOSCOW, Oct 30 (Reuters) – OPEC+ could delay December’s planned increase to oil production by a month or …

OPEC+ Could Delay December Oil Output Hike, Sources Say Read More »

UK Increases Windfall Tax on North Sea Oil Producers

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Offshore / By mark

By Ron Bousso and Arunima Kumar LONDON, Oct 30 (Reuters) – The British government will increase a windfall tax on North Sea oil and gas producers to 38% from 35% and extend the levy by one year, finance minister Rachel Reeves announced on Wednesday. Presenting the first budget under the new Labour government, Reeves said …

UK Increases Windfall Tax on North Sea Oil Producers Read More »

Major LNG Producer Challenged in Court on Clean Claims in Landmark Case

CDN and International News, Conventional Energy, Emission Reduction, Energy Topics & Technology, Latest, LNG / By mark

Santos in Australian Federal Court over alleged greenwashing Questions raised over gas exporter’s net zero ambitions One of the world’s first legal challenges over corporate greenwashing kicked off in an Australian court, with an activist shareholder group claiming natural gas producer Santos Ltd. misled investors on its climate targets. The Australasian Centre for Corporate Responsibility said Monday in …

Major LNG Producer Challenged in Court on Clean Claims in Landmark Case Read More »

Panama Canal Seeks LNG Comeback After 65% Decline in Traffic

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

Summary Asia’s demand for US LNG expected to continue rising Canal could have more room for LNG vessels following new reservation system LNG vessels had access to long-term reservations starting in January PANAMA CITY/HOUSTON, Oct 29 (Reuters) – The Panama Canal aims to regain vessel traffic carrying U.S. liquefied natural gas to Asia as demand …

Panama Canal Seeks LNG Comeback After 65% Decline in Traffic Read More »