Conventional Energy

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Canadian Oil Companies Fall After Trump Vows New Tariffs

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

Canadian oil and gas producers fall after Donald Trump pledged big tariffs on imports from its neighbor on Monday The U.S. president-elect said he would impose a 25% tariff on imports from Canada and Mexico until they clamped down on drugs, particularly fentanyl, and migrants crossing the border Cenovus Energy, Imperial Oil, Suncor Energy and Canadian Natural Resources down between …

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OPEC Unlikely to Raise Production in Short Term, Commodity Trading Bosses Say

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(Reuters) – OPEC is unlikely to unwind voluntary production cuts in the short term, executives of global commodity trading giants Vitol, Trafigura and Gunvor said at the Energy Intelligence Forum in London on Tuesday. OPEC+ is discussing a further delay to a planned oil output hike that was due to start in January, two sources …

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LNG Market to Grow by 50% in the Coming Decade, Says Woodside’s O’Neill

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(Reuters) – Australia’s Woodside Energy expects the global market for liquefied natural gas (LNG) to grow by 50% in the coming decade, its CEO said on Tuesday. “Over the last decade the LNG market grew by 50%. We anticipate it will grow by another 50% in the coming decade,” Meg O’Neill told the Energy Intelligence …

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Citigroup Sees Energy Challenges Persisting in 2025, Cuts PT on US Oil Firms

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

Citigroup cuts price target on U.S.-based oil and gas companies as challenges for the energy sector carry over into 2025 Brokerage sees no scope for OPEC+ to reverse production cuts in 2025, leaving an est. 8 mln barrels per day (mbpd) of global oil market capacity on the sidelines Says “while we expect OPEC+ to …

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New LNG Supply to be Limited in the Next Two Years, Equinor Says

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The global supply of new liquefied natural gas could take longer to come on stream than expected by the International Energy Agency, with predictions differing by a year or more, Norway’s Equinor said on Tuesday. The IEA expects a wave of LNG to come to market in late 2025 or into 2026 as projects are …

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Trump Nod for LNG Projects Could Boost Supply Only from 2027, Goldman Says

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Goldman Sachs expects no near-term impact on global gas supplies due to the potential approval for proposed U.S. liquefaction projects, as they would need government clearance as well as long-term contracts to go ahead, it said in a note on Monday. President-elect Donald Trump’s team plans to roll out an energy package within days of …

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IEA chief Birol Sees ‘Comfortable’ Oil Markets, Unless Geopolitical Shock

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(Reuters) – The supply of oil and gas will be plentiful, with oil markets being “comfortable” this year and next unless major geopolitical escalation happens, the head of the International Energy Agency (IEA) Fatih Birol told a conference in Norway on Tuesday. Global oil supply will exceed demand in 2025 even if OPEC+ cuts remain …

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Oil Rises After Selloff on Possible Middle East Ceasefire

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

Summary Israel and Hezbollah close to ceasefire deal OPEC+ could leave output cuts in place from Jan. 1 Trump says he will impose 25% tariff on Canadian, Mexican goods President-elect plans to increase U.S. oil drilling (Reuters) – Oil prices rose on Tuesday after falling more than $2 a barrel in the previous session as …

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U.S. Oil Firms Unlikely to Go ‘Drill, Baby, drill’ Under Trump, says Exxon Executive – “Everybody is Focused on the Economics”

Conventional Energy, Latest, Natural Gas, Oil, Pinned Primary, US News / By

U.S. oil and gas producers are unlikely to radically increase production under president-elect Donald Trump as companies remain focused on capital discipline, a senior executive at Exxon Mobil  said on Tuesday. “We’re not going to see anybody in ‘drill, baby, drill’ mode,” Liam Mallon, head of Exxon’s upstream division, told the Energy Intelligence Forum conference in …

U.S. Oil Firms Unlikely to Go ‘Drill, Baby, drill’ Under Trump, says Exxon Executive – “Everybody is Focused on the Economics” Read More »

BP CEO Auchincloss Says Oil Demand Keeps Surprising Us to the Upside

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(Reuters) – BP Chief Executive Murray Auchincloss said that global oil demand continued to surprise to the upside, speaking at the Energy Intelligence forum in London on Monday. He said oil demand kept rising on average by more or less 1% each year, depending on economic circumstances. BP expected robust oil consumption for the next …

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