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US Readies New Russia Sanctions if Putin Rejects Peace Deal, Bloomberg News Reports

Conventional Energy, Latest, Oil, US News / By

The United States is preparing a further round of sanctions on Russia’s energy sector to increase the pressure on Moscow should President Vladimir Putin reject a peace deal with Ukraine, Bloomberg News reported on Wednesday, citing people familiar with the matter. The U.S. is considering options such as targeting vessels in Russia’s so-called shadow fleet …

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Alberta’s Huge Oil Sands Reserves Dwarf U.S. Shale

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

Oil sands could maintain current production rates for more than 140 years By Will Gibson Follow CEC on LinkedIn  CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Pipelines at a thermal in situ oil sands facility. Photo courtesy Alberta Energy Regulator Investor interest in Canadian oil producers, primarily in the Alberta oil sands, …

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Venezuela Faces Big Oil Discounts, Pressure for Contract Changes After Tanker Seizure

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(Reuters) – Venezuela’s state-run company PDVSA is dealing with stuck oil cargoes, rising price discounts and demands from customers to change terms of spot contracts following the U.S. seizure of a ship carrying the OPEC country’s crude, traders and sources said. As Washington’s pressure on President Nicolas Maduro grows, the U.S. Coast Guard last week …

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China Accelerates Crude Stockpiling Amid Weaker Oil Price Trend

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By Clyde Russell LAUNCESTON, Australia, Dec 16 (Reuters) – China’s flows of crude oil into storage probably jumped in November to the highest in six months, as a surge in imports overwhelmed steady refinery processing rates. China’s surplus of crude was about 1.88 million barrels per day (bpd) in November, almost three times the 690,000 …

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Shell Greenlights US Gulf Waterflood Project to Boost Oil Recovery

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LONDON, Dec 16 (Reuters) – Oil major Shell (SHEL.L) has taken a final investment decision on a waterflood project at its Kaikias field in the U.S. Gulf of Mexico, aiming to boost oil recovery and extend the life of its Ursa platform. The project is expected to add 60 million barrels of oil equivalent to …

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Why is the Trump Administration Putting Pressure on Venezuela?

Conventional Energy, Latest, Oil, US News / By

Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth will hold closed, classified briefings for all U.S. senators and representatives on Tuesday about the Trump administration’s strategy toward Venezuela. President Donald Trump’s objectives remain unclear to many lawmakers, even after 3-1/2 months, more than 20 deadly U.S. strikes on boats off the South …

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US Investor Group Kimmeridge Offers $6 Billion for Gas Driller Ascent Resources, FT Reports

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil, US News / By

 Activist investment firm Kimmeridge Energy Management has submitted a $6 billion offer to buy Ascent Resources, the Financial Times reported on Tuesday. The bid is the latest challenge to Ascent’s private equity backer Energy & Minerals Group’s (EMG) efforts to sell a more than 30% stake in the company from one of its funds to …

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US Declares Energy Emergency as Cold Snap Hits Northeast

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

By Nathan Risser and Christopher Charleston A woman stands in a street as the snow falls in the Manhattan borough of New York on Dec. 14. Photographer: Charly Triballeau/AFP/Getty Images Four northeastern US states are under emergency transport orders after an outage at one of the largest underground heating fuel storage facilities in the region …

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Ample Oil Supply Shields China From Impact of Venezuela Disruption, For Now

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

(Reuters) – The volume of Venezuelan oil already headed to China before the U.S. seized a Venezuelan tanker last week, plus a glut of crude in storage and weak demand, will limit the near-term impact of the move in the Chinese market, traders and analysts said. Exports from the South American producer have fallen sharply …

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Tankers Make U-Turns After US Seizure of Venezuelan Oil Cargo, Shipping Data Says

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(Reuters) – A tanker carrying Russian naphtha for Venezuelan state oil company PDVSA and at least four supertankers due to pick up crude cargoes in Venezuela have made u-turns after the U.S. seized a vessel carrying Venezuelan crude, ship monitoring data showed on Monday. The U.S. Coast Guard last week intercepted and seized a very …

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