Kissler: Traders’ Global Oil Plan? ‘Wait and See’
Lower pump prices are in the consumer’s favor in the short term, but in the long term … it’s complicated.
BP Seeks Buyers for Castrol Lubricants Unit to Reach $20B Divestment Goal, Sources Say
BP has kicked off the sale of its more than a century-old Castrol lubricants business in a key step in the British energy group’s divestment plan to boost its share price.
Iran’s Revolutionary Guards Warn Israel Against Any Attack
(Reuters) – Israel will receive a “devastating and decisive response” if it attacks Iran, Tehran’s Revolutionary Guards said on Thursday, days after CNN reported U.S. intelligence suggesting Israel was making preparations to strike Iranian nuclear facilities. “They are trying to frighten us with war but are miscalculating as they are unaware of the powerful popular …
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OPEC+ Discusses Making Another Large Output Hike in July
(Reuters) – OPEC+ members are discussing whether to agree on another large production increase at their meeting on June 1, Bloomberg News reported on Thursday. An output hike of 411,000 barrels a day (bpd) for July is among the options under discussion, although no final agreement has yet been reached, the report said, citing delegates.
New Report Casts Doubt on Revival of Quebec LNG Project
A shareholder advocacy group says reviving a liquefied natural gas export project in Quebec’s Saguenay region would be costly and likely unprofitable. Investors for Paris Compliance says demand for LNG in Europe dropped by 18 per cent between 2022 and 2024, and Canadian exports would have a hard time competing in Asian markets. A report …
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Canada’s Seaborne Crude Oil Shift to China Results in Unintended Consequences for Trump
(Reuters) – If there is a law of unintended consequences, then a good example is how commodity markets are adjusting to both the realities and the perceived threats of the tariff war launched by U.S. President Donald Trump. Trump’s trade and tariff measures have forced commodity producers, traders and buyers to re-think long-established relationships, adapt …
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Subsea 7 Wins Service Contract Offshore West Africa
Subsea 7 will transport and install flexible pipelines, umbilicals and associated subsea components for the connection of a floating production, storage and offloading vessel.
US Redirects Puerto Rico Solar Power Funds to Oil Plants
he Trump administration will halt funding of $365 million awarded during the previous administration for rooftop solar power in Puerto Rico and redirect it to fossil fuel burning plants.
Diversified CEO: Gas Fervor Grows on LNG, Midstream Momentum
Diversified Energy manages more than 64,000 wells nationwide but drills none itself. But the company’s recent Cherokee JV and western Haynesville deals give exposure to emerging plays without drilling risks.
Climeworks Is Cutting 22% of Staff as US Climate Backlash Hits Carbon Removal
By Akshat Rathi and Coco Liu Founded in 2009, Climeworks constructed a pilot plant in Iceland in 2021 followed by a larger version that began operations in 2024 and is still being built out. Photographer: Heida Helgadottir/Bloomberg Climeworks AG is laying off 106 people, as startups that aim to reverse global warming face a reckoning …
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