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Trudeau Faces Daunting Path to Sale of Canada’s $26 Billion Trans Mountain Pipeline

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

Plan to give Trans Mountain stake to Indigenous groups stalled Oil companies object to tolls; analysts question valuation Justin Trudeau has promised one of the largest government-led asset sales in Canadian history by divesting the Trans Mountain pipeline, a huge conduit that moves crude from the province of Alberta to the west coast. But the government faces …

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Greta Thunberg Stands Trial Over London Oil Conference Protest Arrest

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Climate campaigners were charged with public order offenses Police were handed new powers to clamp down on public protests Bloomberg Climate campaigner Greta Thunberg was accused of breaking public protest laws on the first day of a London trial after she was arrested while blockading an oil and gas conference last year. The Swedish activist, 21-years-old, arrived at …

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Woodside Should Walk Away from Santos Deal, Large Shareholder Says

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

(Reuters) – Woodside  should walk away from its proposed $57 billion merger with Santos  rather than pay a premium for its smaller rival, a large shareholder said on Thursday, a sign of the deep divide between both sides over fair value. Fund manager Allan Gray Australia owns a roughly A$700 million ($460 million) stake in Australian …

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Norwegian Government Appeals Court Ruling Invalidating Oil, Gas Permits

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Norway’s government on Wednesday said it would appeal a court’s decision to invalidate three permits that the energy ministry had granted for the development of new offshore oil and gas fields. The Oslo District Court earlier this month ruled that the environmental impact had not been sufficiently assessed, after environmental campaign groups in November asked …

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No African Nation Should Have to Halt Fossil Fuels, Kenyan President Says

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

Kenyan president speaks at Italy-Africa summit in Rome Renewable energy is an economically rational choice, he says Kenyan President William Ruto said African countries need to be able to tap all their energy resources even if that means developing non-renewable sources of fuels. “I firmly believe that no African country can be asked to halt the exploration …

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Saudi Aramco Drops Expansion Plan, Raising Demand Questions

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

Bloomberg Company asked to maintain capacity at 12 million barrels daily Surprise move will raise questions about view on oil demand Saudi Aramco abandoned a plan to boost its oil output capacity, a huge reversal that will raise questions about the kingdom’s view on future demand. The surprise move comes after the world’s biggest oil exporter …

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Saudi Oil U-Turn Stokes Doubts Over Future Demand

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

Saudi Arabia’s major reversal on plans to boost how much oil it can produce may spur doubts over the long-term health of demand. State giant Saudi Aramco provided no rationale when it said Tuesday it would ditch efforts to reach capacity of 13 million barrels a day by 2027 and instead hold at the current 12 million. …

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Red Sea Worries Cause Spike in Refined Fuel Prices, But Market Will Adjust: Russell

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The main impact from the escalating tensions in the Middle East and the threat to ships transiting the Red Sea isn’t on crude oil prices. It’s refined fuels that are most at risk. The missile attack on the product tanker Marlin Luanda on Jan. 26 by Yemen’s Iran-aligned Houthi group underscored the risks to shipments …

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California and Big Oil Are Splitting After Century-Long Affair

CDN and International News, Latest, Oil, US News / By

Summary State policies favoring clean-energy have oil companies fuming Exxon, Chevron each to take about $2.5 billion in impairments Jan 29 (Reuters) – It is the end of an era for Big Oil in California, as the most populous U.S. state divorces itself from fossil fuels in its fight against climate change. California’s oil output …

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Impact on Commodities Due to Chaos in the Red Sea

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

Attacks on shipping vessels by Iranian-backed Houthi rebels in the crucial Red Sea shipping lane have disrupted shipping in the Suez Canal, the fastest sea route between Asia and Europe. Data from S&P Global showed the Suez Canal route accounts for 14.8% of all Europe and Middle East and North Africa (MENA) imports. In response, …

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