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Exxon’s Australian Unit, Partners to Invest Nearly $200 million in Gas Project

CDN and International News, Latest, LNG, Natural Gas / By

(Reuters) – Exxon Mobil’s Australian unit will invest nearly $200 million in the Kipper 1B gas project, alongside its partners Mitsu and Woodside Energy the U.S. oil major said on the company website on Monday. The Australian Competition & Consumer Commission has warned that the east coast could face a gas supply shortage from 2027, …

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BP to Ditch Renewables Goals and Return Focus to Fossil Fuels

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

Summary • BP under pressure to boost returns from Elliott Investment Management • Changes to be announced on capital markets day investor update • BP’s shares have underperformed rivals Feb 24 (Reuters) – BP’s chief executive will scrap a target to increase renewable generation 20-fold by 2030, returning the focus to fossil fuels, as part …

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OPEC+Rrisks Losing Control With More Output Delays

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

(Reuters) – OPEC and its allies face a tricky dilemma: should they start loosening oil production caps even though the crude supply and demand picture is unlikely to improve in the near future? They may well opt to again delay the crucial moment to keep prices steady, but they increasingly risk losing control of the …

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U.S. Piles Pressure on Iraq to Resume Kurdish Oil Exports, Sources Say

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

U.S. President Donald Trump’s administration is piling pressure on Iraq to allow Kurdish oil exports to restart or face sanctions alongside Iran, eight sources with direct knowledge of the matter told Reuters. An advisor to the Iraqi prime minister denied in a statement there had been a threat of sanctions or pressure on the government …

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Oil Prices Steady as Traders Await Progress on Push for Ukraine Peace Deal

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

• Iraq-Turkey pipeline expected to resume exports soon • War in Ukraine remains in focus • Russian oil supply will remain curbed by OPEC+ policy (Reuters) – Oil prices steadied on Monday as investors awaited clarity on talks to end the war in Ukraine and weighed up the prospect of a resumption in crude exports …

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US Energy Council Chief Says Power Plants to Produce 15% More Electricity

Electricity Grid, Energy Topics & Technology, Latest, US News / By

(Reuters) – U.S. Interior Secretary and co-chair of a new White House energy council Doug Burgum on Friday called for every U.S. power plant to produce 10-15% more electricity to meet the growing energy needs to expand artificial intelligence across the United States. “Winning the AI arms race doesn’t just take software developers. It takes …

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Shell to Grow Working Interest in the Ursa Platform in Gulf of America

Latest, US News / By

HOUSTON, Feb. 21, 2025 /CNW/ — Shell Offshore Inc. and Shell Pipeline Company (SPLC), subsidiaries of Shell plc (Shell), have signed an agreement to increase their stake in the Ursa platform in the Gulf of America. This will increase Shell’s working interest (WI) in its operated Ursa platform, pipeline, and associated fields from 45.3884% to a maximum of 61.35%, …

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