Auto Added by WPeMatico
(Reuters) – OPEC+ is working to agree oil production capacity for its member countries by the end of 2024, an issue that has created tensions in the past because each nation’s output target is calculated from its notional capacity. Members of OPEC+ – comprising OPEC and allies such as Russia – tend to push for …
NOW YOU KNOW: Why Does OPEC+ Often Clash Over Oil Production Capacity? Read More »
(Reuters) – Oil prices rose on Wednesday on expectations that major producers will extend output cuts at a meeting on Sunday and that fuel consumption will start rising with the start of the peak summer demand season. Brent crude futures for July delivery added 74 cents, or 0.9%, to $84.96 a barrel by 0917 GMT. …
Oil Prices Gain on Expectations of OPEC+ Extension to Output Cuts Read More »
U.S. energy company Glenfarne Group LLC has asked federal energy regulators for five more years until November 2029 to put its proposed Texas LNG export plant in Texas into service, according to a filing made available on Tuesday. Texas LNG is one of more than three dozen LNG export plants being developed in the U.S., …
Glenfarne Seeks Five More Years Until 2029 to Build Texas LNG Export Plant Read More »
U.S. spot gas prices in Southern California fell to a record low for Tuesday, while power in Arizona and California remained negative amid low energy demand over the Memorial Day holiday weekend and ample cheap hydropower and other renewable supplies. Negative prices signal there is too much power or gas being produced in a region. …
U.S. Spot Natgas Prices Hit Record Low in California, Power Prices Remain Negative Read More »
Bloomberg Australia’s leaders like to portray the nation as a trailblazer in the energy transition, touting a solar buildout that has installed panels on almost one in three rooftops and rapid growth in battery storage. The more valuable lesson, though, may be in its struggle with coal. Eraring, the country’s largest power plant, burns through as much as 6 million …
Coal’s Australian Reprieve Is an Energy Transition Reality Check Read More »
(Reuters) – Norwegian oil and gas investments are expected to hit a record high this year and will remain strong in 2025, driven by a string of new developments as well as cost inflation, a national statistics office (SSB) survey showed on Tuesday. The country’s biggest business sector now expects to invest 246.9 billion Norwegian …
Norwegian Oil Companies to Make Record High Investments in 2024 Read More »
Petrobras’ new chief executive said a basin in Brazil’s Equatorial Margin, an environmentally sensitive offshore prospect seen as the country’s most promising frontier for oil exploration, was a matter of “national interest.” Magda Chambriard, who took over as the state-controlled oil company’s chief executive after President Luiz Inacio Lula da Silva fired its former CEO …
New Petrobras CEO Pushes Offshore Oil Prospect as Matter of ‘National Interest’ Read More »
(Reuters) – European Union countries approved a law on Monday to impose methane emissions limits on Europe’s oil and gas imports from 2030, pressuring international suppliers to cut leaks of the potent greenhouse gas. Methane is the main component of the natural gas countries burn in power plants and to heat homes. It is also …
EU Approves Law to Hit Gas Imports with Methane Emissions Limit Read More »
(Reuters) – Oil prices were little changed on Monday, making marginal advances in muted trade owing to public holidays in Britain and United States after a downbeat week characterised by the outlook for U.S. interest rates in the face of sticky inflation. The Brent crude July contract was up 21 cents at $82.33 a barrel …
Oil Steadies After Weekly Decline on U.S. Interest Rate Prospects Read More »
(Reuters) – The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia are known collectively as OPEC+ and will meet on June 2 to discuss their joint oil production policy. Below are key facts about OPEC+ and its role. WHAT ARE OPEC AND OPEC+? OPEC was founded in 1960 in Baghdad by Iraq, …
What is OPEC+ And How Does it Affect Oil Prices? Read More »
