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BlackRock-Led Group in Talks to Raise Around $10.3 Billion for Aramco Deal

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

A group of investors led by BlackRock’s Global Infrastructure Partners is in talks with lenders to secure up to $10.3 billion in financing for Aramco’s Jafurah infrastructure deal, two sources with direct knowledge of the matter told Reuters. Banks including JPMorgan and Japan’s Sumitomo Mitsui Banking Corporation are in talks to participate in the transaction, …

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Will Norway’s Greens Phase Out Country’s Key Oil Sector After Key Election Role?

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

(Reuters) – Norway’s Green Party played a crucial role in the re-election of the Labour-led government on Monday by securing 4.7% of the vote and ensuring Labour and its allies have 87 seats in parliament – two more than needed to hold a majority. Here is a look at the Greens’ main energy policy proposals, their potential impact, …

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HSBC Sees Gradual Unwinding of OPEC+ Voluntary Cuts Over Next Year

Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC, US News / By

(Reuters) – HSBC’s latest oil market supply and demand model envisions OPEC+ gradually unwinding 1.65 million barrels per day in “first-phase” voluntary production cuts over a 12-month period, the bank said in a note on Tuesday. The bank’s oil market model had previously assumed that OPEC+ would take a breather after unwinding 2.2 million barrels …

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Oil Field Job Cuts Pile Up in the US Shale Patch for Fear of a Glut

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

Producers are slashing head count as OPEC+ hikes threaten to weaken prices further. Roustabouts, roughnecks and petroleum engineers in US oil fields are facing the deepest job cuts since crude prices crashed three years ago, and the prospects of an upturn any time soon are looking bleak. Employment slid 1.7% last month to levels not …

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Cenovus Selling Stake in WRB Refining to Joint Venture Partner Phillips 66 for $1.9B

Conventional Energy, Energy Topics & Technology, Latest, Oil, Refineries, US News / By

Cenovus Energy Inc. has signed a deal to sell its 50 per cent stake in WRB Refining LP to its joint venture partner Phillips 66 for about $1.9 billion. The WRB joint venture includes the Wood River Refinery in Illinois and the Borger Refinery in Texas. The operations have combined crude throughput capacity of 495,000 …

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Ukrainian Strikes on Russian Oil Facilities Could be a Boon for US Refiners

Conventional Energy, Energy Topics & Technology, Latest, Oil, Refineries, US News / By

Ron Bousso (Reuters) – The recent wave of Ukrainian drone attacks on Russian oil refineries and export facilities could boost global refining profit margins – particularly those in the U.S. – just as the peak summer demand season fades. Ukrainian attacks have shut down facilities accounting for at least 17% of Russia’s oil processing capacity, …

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Oil Rises on Modest OPEC+ Output Hike, Russia Supply Concern

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

Summary Brent and U.S. crude rise about 1% Threat of tighter sanctions on Russian oil also underpins market China to carry on stockpiling oil in 2026, Gunvor official says (Reuters) – Oil extended gains on Tuesday, supported by the latest oil output hike from OPEC+ being smaller than anticipated, expectations that China will continue stockpiling …

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Crude Oil Sentiment Swings to Lower Prices as Bearish Factors Mount

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

(Reuters) – Sentiment in the crude oil market has shifted to expecting prices to decline, with the debate at the industry’s biggest gathering in Asia more about timing than direction. The topic of presentations and conversations at the annual APPEC conference is always dominated by the outlook for prices, and this week’s event was no …

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Cuts to US Oil Jobs and Spending Threaten Output Growth

Conventional Energy, Drilling Rigs, Energy Topics & Technology, Exploration & Production, Latest, Natural Gas, OFS-Oilfield Services, Oil, Pinned Primary, US News / By

Summary Oil and gas producers cut $2 bln in expenditure, Reuters analysis shows US oil rig counts have fallen by 69 this year Trump’s trade policies and tariffs push up material costs HOUSTON, Sept 8 (Reuters) – The U.S. oil industry has laid off thousands of workers and cut billions in spending due to lower …

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Barclays Cuts 2026 Brent Forecast on OPEC+ Supply Increase Expectations

Conventional Energy, Latest, Oil, US News / By

(Reuters) – Barclays on Monday lowered its Brent crude oil price forecast for 2026 by $4 to $66 a barrel, citing expectations that OPEC+ will fully unwind voluntary production cuts by September next year. The bank said OPEC+’s weekend decision to raise October production targets by 137,000 barrels per day (bpd) was “the group initiating …

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