Monday, May 12, 2025

China crude oil imports shatter record, top U.S. intake

From Reuters: China’s crude oil imports surged to an all-time high in March to nearly 9.2 million barrels per day (bpd), customs data showed on Thursday, far surpassing expectations and overtaking the United States as independent refiners ramped up their purchases. The March imports came in at 38.95 million tonnes, or 9.17 million bpd, according to the General Customs Administration.

Measures on both sides of the oil and gas debate die in Colorado Legislature

From Denver Business Journal: Over the course of one fateful afternoon at the Colorado Capitol, both the oil and gas industry and opponents of the growth of that industry saw their top-priority bills so far in the legislative session die in separate committees on Wednesday. On a party-line vote, the Republican-led state Senate Agriculture, Natural Resources and Energy Committee nixed

New U.S. pipelines to drive natural gas boom as exports surge

From Reuters: U.S. energy firms are scrambling to finish a slew of pipelines that will unleash rich reserves of shale gas in Pennsylvania, West Virginia and Ohio as the nation prepares to become one of the world’s top natural gas exporters. The pipelines are expected to boost output from shale fields in the three states by giving producers access to

Chevron exploring sale of Canada oil sands stake worth about $2.5 billion: sources

From Reuters: Chevron Corp (CVX.N), the second-largest U.S.-based oil producer, is exploring the sale of its 20 percent stake in Canada’s Athabasca Oil Sands project, which could fetch about $2.5 billion, according to people familiar with the situation. The company has discussed with investment banks the prospect of selling the stake in the western Canadian oil sands project, a source