Vermilion Energy to Sell Saskatchewan, Manitoba Assets for US$302MM
Calgary, Alberta-based Vermilion Energy Inc. is selling Saskatchewan and Manitoba assets in Canada for CA$415 million (~US$302 million).
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US Drillers Cut Oil, Gas Rigs to Lowest Since November 2021—Baker Hughes
This week has been the first time since September 2024 that drillers have reduced the number of rigs four weeks in a row.
TotalEnergies CEO Says Company has Option to Increase 5% Stake in Canada’s Ksi Lisims LNG
TotalEnergies CEO Patrick Pouyanne declined to specify by how much Total could increase its stake in Ksi Lisims LNG,.
EU Awaits Clarity From Washington on Trump’s 50% Tariff Threat
The European Commission sought clarity from the U.S. after U.S. President Donald Trump recommended on May 23 putting a 50% tariff on EU goods from June 1.
Saudi Aramco Seeks Investors in Jafurah Infrastructure Assets, Sources Say
(Reuters) – Saudi oil giant Aramco is seeking investors in infrastructure, including pipelines, for its $100 billion Jafurah gas project, two people familiar with the matter told Reuters. The Jafurah project is key to Saudi Aramco’s ambitions to become a major global player in natural gas and to boost its gas production capacity by 60% …
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Victory for Energy Freedom: the House (Finally) Limits IRA Subsidies
Last week, Republicans were planning to keep the vast majority of the trillion-dollar IRA subsidies, including grid-destroying solar/wind subsidies. Fortunately, a few energy freedom fighters saved us By Alex Epstein Last week, Republicans were planning to keep the vast majority of the trillion-dollar IRA subsidies, including grid-destroying solar/wind subsidies. (I sounded the alarm here.) Fortunately, the …
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Carbon Removal Pioneer Climeworks Tackles Its First Major Layoff
By Akshat Rathi and Sommer Saadi “We are coming out of a phase of extreme growth,” co-founder Jan Wurzbacher said on the Zero podcast, as the startup focuses on cost cutting amid unfavorable market conditions. Scientists are clear that meeting climate goals means ending carbon pollution and drawing down excess CO2 from the air. That’s …
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EU Eyes Nord Stream 2 Sanctions to Stamp Out Russian Gas Return
By Ewa Krukowska, Alberto Nardelli, and Anna Shiryaevskaya A gas receiving compressor station for the Nord Stream 2 pipeline in Lubmin, Germany. Photographer: Krisztian Bocsi/Bloomberg The European Union is nearing a decision to include the Nord Stream 2 gas pipelines linking Germany and Russia in a fresh proposal of sanctions against Moscow amid persistent rumors …
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Northvolt to Stop Production in June With No Buyers in Sight
While production is set to stop by the end of next month, efforts to identify a purchaser for the plant remain ongoing Northvolt AB will stop making cells at its last remaining factory in northern Sweden at the end of June, marking the demise of what was once Europe’s best hope of a homegrown battery …
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Shell Expects More LNG exporters to Turn into Net Importers, Drive Demand
Energy major Shell expects several traditional LNG exporter nations to turn into net importers, driving demand for the super chilled fuel and potentially easing concerns that the industry faces oversupply from a raft of planned new projects. Cederic Cremers, Shell’s executive vice president for LNG, told Reuters that Indonesia, Malaysia, and Algeria are likely to …
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