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Canadian Press OTTAWA — Canada’s price on pollution is supposed to help battle global warming, but as it nears its fifth anniversary, nothing in Canadian politics is hotter. Conservative Leader Pierre Poilievre has so successfully convinced Canadians the carbon price is to blame for inflation that he even earned begrudging respect for his “axe the …

Canada’s Heated Political Conflict Over Carbon Pricing Will Continue into 2024 Read More »

(Reuters) – U.S. energy giant ExxonMobil Corp (XOM.N) has formally exited the West Qurna 1 oilfield in southern Iraq and handed over its operations to PetroChina as lead contractor, a deputy oil minister told Reuters on Monday. Senior Iraqi oil officials met with executives from ExxonMobil, PetroChina and Basra Oil Co on Monday at the West …

ExxonMobil Hands Over Operations at West Qurna 1 Oilfield to PetroChina Read More »

Combustion-engine vehicles still dominate the world’s highways. By Javier Blas Javier Blas is a Bloomberg Opinion columnist covering energy and commodities. He is coauthor of “The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources.” Rumors that gasoline demand has peaked have been greatly exaggerated. After fueling the 20th century automobile culture …

The Peak in Gasoline Demand Turns Out to Be a Mirage Read More »

Dec 29 (Reuters) – U.S. energy firms added oil and gas rigs for second year in a row, energy services firm Baker Hughes Co said in its report on Friday. The number of gas and oil rigs were overall unchanged for the week, with oil rigs falling one and gas rigs rising by one, Baker …

U.S. Drillers Add Oil and Gas rigs for Second Year in a row -Baker Hughes Read More »

(Reuters) – U.S. energy firms added oil and gas rigs for second year in a row, energy services firm Baker Hughes Co said in its report on Friday. The number of gas and oil rigs were overall unchanged for the week, with oil rigs falling one and gas rigs rising by one, Baker Hughes said. …

Closing Out 2023 – U.S. Drillers Add Oil and Gas rigs for Second Year in a Row -Baker Hughes Read More »

Reuters Dec 29 (Reuters) – A federal safety board investigation has found that Chesapeake Energy (CHK.O) and its contractors failed to provide adequate control measures at the site of a 2020 fire at a company-operated oil well, that claimed three lives. The U.S. Chemical Safety Board (CSB), which investigates industrial chemical accidents, said in a report published …

Lack of Safety Practices Behind 2020 Chesapeake Oil-Well Blast: U.S. Safety Board Read More »

LONDON, Dec 28 (Reuters) – OPEC is facing weakening demand for its crude in the first half of 2024 just as its global market share declines to the lowest since the Covid-19 pandemic on the back of output cuts and member Angola’s exit, according to Reuters calculations and data from forecasters. The trend means the …

OPEC Faces Declining Demand and Shrinking Market Share in Early 2024 Read More »

U.S. crude stockpiles were expected to have fallen last week, while distillate and gasoline inventories likely rose, an extended Reuters poll showed on Wednesday. Seven analysts polled by Reuters estimated on average that crude inventories fell by about 2.7 million barrels in the week to Dec. 22. The poll was conducted ahead of reports from …

U.S. Crude Inventories Seen Down Last Week, Products Likely Rose Read More »

 U.S. natural gas futures traded below the previous session’s three-week high on Thursday as investors awaited a weekly storage report due later in the day. Front-month gas futures for February delivery on the New York Mercantile Exchange were trading around $2.53 per million British thermal units as of 10:08 a.m. EST. Prices rose as much …

U.S. Natgas Prices Trade Below Three-Week Peak Ahead of Storage Report Read More »

(Reuters) – China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an outlook released on Thursday. Non-fossil energy supply, led by solar and wind, will likely exceed the equivalence of 3 billion metric tons of standard coal by 2045 to become …

Sinopec Forecasts China’s Coal Consumption to Peak Around 2025 Read More »