CDN and International News - Today in Oil and Gas

INFOGRAPHIC: The Countries Using the Most Energy per Capita – Visual Capitalist

By Kayla Zhu | Graphics/Design: Sabrina Lam Top Countries by Energy Consumption Per Capita in 2023 This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources. Global energy consumption has significant regional variations due to differences in …

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Bad Government Policy Made Venezuela’s Downfall Inevitable – Fraser Institute

By Matthew D. Mitchell In 1970, Venezuelans were the wealthiest people in Latin America. With annual incomes comparable to those of the Finns and the Japanese, they earned two-and-a-half times what the average Latin American earned. Their wealth bought them longer life, lower infant mortality and some measure of safety. But today, as the United …

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French Imports of Russia’s Liquified Natural Gas Surge, and Ukraine Supporters Seek a Stop

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

Shipments of Russian liquified natural gas to France more than doubled the first half of this year, according to new analyses of trade data, at a time when Europe has tried to pull back from energy purchases that help finance the Kremlin’s invasion of Ukraine. Europe has restricted oil imports from Russia, but natural gas …

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Aramco CEO Says Oil Demand Is Strong and Recent Selloff Was Overreaction

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

Saudi oil giant sees demand “north of 106 million b/d” in 2025 “Robust” oil use points to “fairly healthy” market: CEO The selloff in global oil markets on perceived bad economic news was overdone because demand remains strong, according to top crude exporter Saudi Aramco. Brent crude dropped to almost $75 a barrel on Monday, …

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Brent likely to Hold $75/Bbl Floor Despite Macro Fears, Goldman Says

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

Brent crude prices are likely to stay above $75 per barrel as the oil market will withstand macro recessionary fears and find support in the coming weeks, Goldman Sachs said on Monday. Limited recession risk, strong demand in the West and from India, and very low speculative positioning having room to recover will support oil …

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U.S. Recognizes Maduro’s Opponent as Winner in Venezuela Election

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

The United States on Thursday recognized Venezuelan President Nicolas Maduro’s opponent and opposition candidate Edmundo Gonzalez as the winner of Venezuela’s disputed presidential election, rejecting Maduro’s claim of victory. “Given the overwhelming evidence, it is clear to the United States and, most importantly, to the Venezuelan people that Edmundo Gonzalez Urrutia won the most votes …

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OPEC+ Sticks to Oil Policy, Repeats Could Pause Oct Hike

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

By Olesya Astakhova, Ahmad Ghaddar, Alex Lawler and Maha El Dahan Russia comfortable with current oil prices Algeria sees demand on upward trend in coming weeks Still some weeks to decide on hike, says source close to OPEC+ MOSCOW/LONDON, Aug 1 (Reuters) – A meeting of top OPEC+ ministers has kept oil output policy unchanged …

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COMMENTARY: Some Weird Stuff is Happening in Energy – Irina Slav

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

More From Irina Slav Some weird stuff has been happening in energy and related fields lately. Despite repeated assurances that decarbonisation would be a boon for every economy, we have recently learned that Germany’s GDP slipped into an unexpected contraction in the second quarter and that the UK dropped out of the world’s top 10 …

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North Sea Oil and Gas Producers Say UK Windfall Tax is a ‘Wrecking Ball’

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

(Reuters) – Britain’s decision to increase a windfall tax on oil and gas producers to help pay for its push to grow renewables will lead to a sharp drop in revenue and accelerate the ageing basin’s decline, North Sea drillers said. The new Labour government announced on Monday it will increase the Energy Profits Levy (EPL) …

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Europe Needs COP29 Host Azerbaijan to Keep Exporting Fossil Fuels

CDN and International News, Conferences, Events, Latest, Oil / By mark

From the city of Baku’s shoreline along the Caspian Sea, amid restaurants and high end hotels, Azerbaijan’s relationship with fossil fuels is plain to see by the rigs and tankers that dot the horizon. Azerbaijan, one of the birthplaces of the modern fossil fuel industry, will become another oil and gas exporter tasked with hosting the annual round …

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