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IT’S OFFICIAL: Canada’s Trans Mountain Pipeline to Start Up in Second Quarter

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

Trans Mountain Corp will begin line fill in February on its long-delayed Canadian oil pipeline expansion and expects it to be in service in the second quarter, a company executive said on Wednesday. The C$30.9-billion ($23.05 billion) expansion will nearly triple the flow of crude on Trans Mountain from Alberta to Canada’s Pacific Coast but …

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Oil Demand in Asia, Africa Boosted by Cheap Russian Crude

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

(Reuters) – Asia and Africa have replaced Europe as the top destinations for Russian crude oil exports since Moscow was slapped with European sanctions on sales of energy products following its invasion of Ukraine in February 2022. Prior to the sanctions in mid-2022, Europe accounted for more than 60% of Russia’s oil exports and provided …

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Growth in Low-Emissions Power Expected to Cover Demand – IEA

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

(Reuters) – Power generated from low-emissions sources, such as wind, solar and nuclear, will be adequate to meet growth in global demand for the next three years, the International Energy Agency (IEA) said, adding power sector emissions are on the decline. Following record growth, electricity generation from low-emissions sources will account for almost half of …

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OPEC’s Mission for 2024 is Looking Even Tougher

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

International Energy Agency data shows the cartel and its allies may need to restrain supplies all year. OPEC’s mission to defend oil prices this year is starting to look even harder. The cartel and its allies launched new production cuts this month to stave off a global oil surplus, and group leader Saudi Arabia said …

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Gas Exporting Group Sees Tight Global LNG Markets Until 2026

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

The Gas Exporting Countries Forum (GECF) sees tight global liquefied natural gas (LNG) markets until 2026 as demand rises 1.5% this year and by up to 22% through 2050, the group’s secretary general, Mohamed Hamel, said on Monday at a conference in Trinidad and Tobago. The GECF represents natural gas exporters including Qatar, Russia and …

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Saudi Arabia’s November Crude Exports Hit 5-Month High

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

Saudi Arabia’s crude oil exports in November climbed to their highest level in five months and marked a third straight rise, data from the Joint Organizations Data Initiative (JODI) showed on Monday. Crude exports from the world’s largest oil exporter rose 0.6% to 6.336 million barrels per day (bpd) from 6.297 million bpd in October. …

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Chevron Seeks to Sell Canadian Duvernay Shale Assets After Hess Purchase

CDN and International News, Latest / By

Chevron Corp. has begun marketing its Duvernay shale holdings in Alberta as the oil giant divests assets following its agreement to buy Hess Corp. Chevron plans to shed all of its 70% stake in the Western Alberta oil and natural gas play, spokesman Braden Reddall said in an email. Other assets in Canada won’t be …

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China Defies Sanctions to Make Russia its Biggest Oil Supplier in 2023

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

BEIJING, Jan 20 (Reuters) – Russia leapfrogged Saudi Arabia to become China’s top crude oil supplier in 2023, data showed on Saturday, as the world’s biggest crude importer defied Western sanctions to purchase vast quantities of discounted oil for its processing plants. Russia shipped a record 107.02 million metric tons of crude oil to China …

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Norway Loses Court Battle With Climate Groups on Oil Fields

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Source: Equinor Climate activists won a court case in Norway against the state over development plans at a handful of oil and gas fields under the sea off the Nordic country’s coast. Greenpeace Norway and Young Friends of the Earth argued that development plans at the Breidablikk, Tyrving and Yggdrasil fields, approved by the ministry …

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Cheap Russian Oil Cuts OPEC’s Share of India Imports to Record-Low 50%

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

The annual share of OPEC’s oil in India’s crude imports fell to its lowest level ever in 2023 while that of discounted Russian barrels surged to an all-time high, data obtained from trade and industry sources show. India, the world’s third-biggest oil importer and consumer, has long relied on the nearby middle eastern nations for …

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