Conventional Energy

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U.S. Buys 3.2 Million Barrels of Oil for Strategic Petroleum Reserve

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil / By

The United States bought 3.2 million barrels of oil for the Strategic Petroleum Reserve, as it continues to slowly replenish the stash after selling a record amount following Russia’s invasion of Ukraine in 2022, a Department of Energy document showed on Friday. The U.S. bought 1.4 million barrels from Exxon Mobil, 600,000 barrels from Macquarie Commodities …

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Natural Gas – A Foundational Fuel in a Secure Global Energy Future

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Consensus is growing that natural gas will continue to fill a key role in a secure global energy future, and producers are continuing to strive for better environmental performance and greater transparency on impacts. In recent years, this has translated into a growing movement to certify natural gas as “responsibly produced” using a number of …

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U.S. Says Houthis Launched Missiles at Tanker Ship but No Damage Caused

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The Iran-backed Houthi militia launched two anti-ship ballistic missiles at a U.S.-owned tanker ship late on Thursday that hit the water near the vessel but caused no injuries or damage, the U.S. military said. The incident, the latest amid growing tensions in the Red Sea that have disrupted global trade and raised fears of supply …

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Norway Loses Court Battle With Climate Groups on Oil Fields

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

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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Who’s Right on Oil Demand Growth Forecasts for 2024?

Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Oil, OPEC, US News / By

Market participants appear to be putting greater faith in the IEA than they do in OPEC. Analysts from groups representing oil producers and consumers have radically different views of this year’s market. But OPEC doesn’t seem to believe its own experts. Oil demand will increase almost as fast this year as it did in 2023 …

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Biden Administration Taking Heat From All Sides Over Louisiana LNG Project

Conventional Energy, Latest, LNG, Pinned Primary, US News / By

(Reuters) – The Biden administration faces mounting pressure over whether to approve a massive new Louisiana LNG export project, with environmentalists saying the facility would undermine U.S. climate goals and business interests arguing it is essential for global energy security. The Federal Energy Regulatory Commission, a panel of three regulators, is expected to vote in …

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Oil Heads for Weekly Gain as Middle East Tensions Support

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary Oil benchmarks head for weekly gain IEA lifts demand growth forecast, sees well supplied market North Dakota oil output down 40% due to cold weather LONDON, Jan 19 (Reuters) – Oil was little changed on Friday and heading for a weekly gain, as Middle East tensions and oil output disruptions caused by cold weather …

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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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U.S. Crude Stockpiles Fall More than Expected on Strong Refiner Demand – EIA

Conventional Energy, Latest, Oil, US News / By

(Reuters) – U.S. crude oil stockpiles fell more than expected last week on strong demand from refineries, while gasoline and distillate inventories rose to multi-year highs, the Energy Information Administration (EIA) said on Thursday. Crude inventories fell by 2.5 million barrels to 429.9 million barrels in the week ended Jan. 12, the EIA said, compared …

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In First Look at 2025, OPEC Expects Robust Oil Demand Growth

Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC, US News / By

Summary OPEC sees oil demand rising by 1.85 mbpd in 2025 Sticks to 2024 oil demand growth forecast of 2.25 mbpd IEA to publish updated forecasts on Thursday LONDON, Jan 17 (Reuters) – OPEC on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2024 and said 2025 will see …

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