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G7’s Russian Oil Tanker Ban Shows Teeth, But Bite is in Doubt: Bousso

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

The G7’s proposed plan to bar tankers from hauling Russian oil ups the ante in the West’s economic stand-off with Moscow, but the ultimate bite hinges on whether governments will ratchet up punishments on those skirting sanctions. And with Russian President Vladimir Putin working tirelessly to strengthen Moscow’s own alliances, including India and China, the …

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US Drillers Add Rigs for Fourth Time in Five Weeks, Says Baker Hughes

Conventional Energy, Latest, Natural Gas, Oil, US News / By

(Reuters) – U.S. energy firms this week added drilling rigs for the fourth time in five weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by five to 549 in the week to December 5, its highest …

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Oil Climbs to 2-Week High on Fed Rate-Cut Signals, Supply Concerns

Conventional Energy, Latest, Oil, US News / By

By Scott Disavino US central bank expected to cut rates next week Russia-Ukraine talks stall, affecting oil supply outlook OPEC+ production steady, geopolitical tensions influence prices NEW YORK, Dec 5 (Reuters) – Oil prices edged up nearly 1% to a two-week high on Friday on increasing expectations the U.S. Federal Reserve will cut interest rates …

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US Congress Repeals Biden-Era Limits on Oil and Gas in Alaska Refuge

Conventional Energy, Latest, Natural Gas, Oil, US News / By

(Reuters) – Congressional lawmakers on Thursday voted to repeal a Biden-era policy that limited the amount of land in an Alaska wildlife refuge that could be leased for oil and gas development. The U.S. Senate voted 49-45 to approve a resolution that revokes the Interior Department’s 2024 rule governing energy development on the 1.56-million-acre Coastal …

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US Congress Repeals Biden-Era Limits on Oil and Gas in Alaska Refuge

Conventional Energy, Latest, Natural Gas, Oil, US News / By

(Reuters) – Congressional lawmakers on Thursday voted to repeal a Biden-era policy that limited the amount of land in an Alaska wildlife refuge that could be leased for oil and gas development. The U.S. Senate voted 49-45 to approve a resolution that revokes the Interior Department’s 2024 rule governing energy development on the 1.56-million-acre Coastal …

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Kazakhstan’s Oil Output Declines as Exports Curbed by Damaged Terminal, Source Says

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

(Reuters) – Kazakhstan’s oil and gas condensate production declined by 6% in the first two days of December, an industry source said on Thursday, following a Ukrainian drone attack on the Caspian Pipeline Consortium’s (CPC) Black Sea loading facility. The CPC pipeline, which carries over 80% of Kazakhstan’s oil exports and handles more than 1% …

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Chevron Announces 2026 Capex Budget of $18 to $19 Billion

Latest, Oil, Press Releases / By

HOUSTON–(BUSINESS WIRE)–Chevron Corporation (NYSE: CVX) today announced an organic capital expenditure range of $18 to $19 billion for consolidated subsidiaries (capex) for 2026, at the low-end of the long-term guidance range of $18 to $21 billion. Affiliate capital expenditure (affiliate capex) is expected to be $1.3 to $1.7 billion for 2026. “Our 2026 capital program focuses …

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Chevron to Spend Up to $19 Billion Next Year in Focus on US, Guyana Oil Production

Conventional Energy, Latest, Oil, US News / By

(Reuters) – Chevron said on Wednesday that capital expenditure for 2026 will be between $18 billion and $19 billion as the oil major focuses on production in the U.S. and investments connected to a recently-acquired oil stake in Guyana. The range is at the low-end of previous guidance that put annual investment between $18 billion …

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Canadian Oil Tumbles to Weakest Since March as World Glut Builds

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

Heavy Western Canadian Select fell to US$13 below West Texas Intermediate on Tuesday By Robert Tuttle Canadian crude prices have fallen to their weakest relative to the U.S. benchmark since March as surging production from Alberta meets an already well-supplied world market. Heavy Western Canadian Select, traded in Alberta for January, fell to US$13 below …

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