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OPEC may need to cut production further to keep oil prices at current levels in the face of stuttering demand growth and high U.S. output, the CEO of commodities trader Mercuria Energy Group said on Wednesday. U.S. crude production will climb to record levels over the next two years, the U.S. Energy Information Administration (EIA) …
OPEC May Need Further Supply Curbs to Balance Market, says Mercuria Chief Read More »
(Reuters) – Environmental campaigners are criticizing Canada’s energy regulator for approving a “variance” request on a section of the Trans Mountain Expansion pipeline project, calling new conditions around material procurement accompanying the approval too lenient. Last week the Canada Energy Regulator (CER) agreed to Trans Mountain’s request for a variance that will enable the Canadian-government-owned pipeline to …
Canada Regulators Face Activist Ire for Trans Mountain Variance Approval Read More »
Bloomberg The electric power grid in Texas, which collapsed dramatically in a 2021 winter storm, is being tested once again as the state endures an Arctic blast. Demand for electricity has broken wintertime records as the state’s population continues to grow amid a rapid change in its energy mix, with wind and solar displacing fossil fuels. That’s been stoking …
Why the Texas Power Grid Is Still Facing Challenges Read More »
Activists tout decades-old law to advance climate agenda TC Energy plans expansion of gas pipeline in Pacific Northwest Joe Biden Environmentalists are urging the White House to use an obscure legal tool to thwart TC Energy Corp.’s planned expansion of a natural gas pipeline in the Pacific Northwest that they say would stoke climate change. The …
Biden Urged to Use Obscure Law to Thwart TC Energy Pacific Northwest Pipeline Expansion Read More »
U.S. oil output from top shale-producing regions is due to decline in February for the fifth consecutive month, the U.S. Energy Information Administration (EIA) said in a monthly report on Tuesday. Oil output is set to fall to 9.68 million barrels per day (bpd) next month, driven by declines in the Eagle Ford and Bakken …
U.S. Oil Output Due to Drop in February for Fifth Straight Month, EIA Says Read More »
TotalEnergies’ 238,000 barrel-per-day (bpd) refinery in Port Arthur, Texas, was examining units after a plantwide power outage on Tuesday morning as a winter storm brought frigid temperatures to the U.S. Gulf Coast, sources familiar with the company’s operations said.Flint Hills Resources said its 343,000-bpd refinery in Corpus Christi, Texas, sustained significant impacts from unseasonably cold …
Deep Freeze Triggers U.S. Gulf Coast Refinery Shutdown Read More »
Ercot urges people to conserve energy Tuesday morning Texas grid holds up Monday despite record demand for winter Texas faces another power grid test Tuesday after surviving record winter demand as freezing weather strains electricity systems across North America. While the state’s grid held up Monday, its operator issued a conservation plea for 6 a.m. …
Texas Sets New Electricity Record, Faces More Tests From Freeze Read More »
At least six further oil tankers have either diverted their course away from, or paused before entering the southern Red Sea since the weekend, ship tracking data from LSEG and Kpler show. That takes the total number of shipping disruptions counted by Reuters to at least fifteen in total since the U.S.-led strikes on Houthi …
More Oil Tankers shun Southern Red Sea After U.S.-led Strikes in Yemen Read More »
By John Kemp (Reuters) – Global consumption of petroleum and other liquids hit a record high last year and is forecast to increase further in both 2024 and 2025, but that does not necessarily mean prices must rise to ensure demand is met. Worldwide consumption averaged 101.1 million barrels per day (b/d) in 2023, narrowly beating …
Oil Consumption and Prices Revert to Trend – John Kemp Read More »
(Reuters) – The Canada Energy Regulator (CER) on Friday approved a request for a change in construction for the final stretch of the Trans Mountain oil pipeline expansion project, clearing the path for its completion early this year. The C$30.9-billion ($23.05 billion) expansion will nearly triple the flow of crude on Trans Mountain from Alberta …
DONE DEAL! Canadian Trans Mountain Oil Pipeline Change Approved by Canadian Regulator Read More »
