Saturday, December 6, 2025
Oil must play major role in global energy transition, Exxon, Aramco CEOs say- oil and gas 360

Oil must play major role in global energy transition, Exxon, Aramco CEOs say

World Oil (Bloomberg) – The heads of Saudi Aramco and Exxon Mobil Corp. took to the stage at a major industry event Monday to voice support for the global transition to cleaner forms of energy, but one in which oil continues to play a major role for decades to come. Both chief executive officers touted capturing and storing carbon as

Energy giants place tentative bets on oil finds in 'wildcat' Uruguay- oil and gas 360

Energy giants place tentative bets on oil finds in ‘wildcat’ Uruguay

Nasdaq MONTEVIDEO – Uruguay state-run energy firm Ancap is set to agree to final terms for a record number of seven offshore exploration licenses next month, a senior executive told Reuters, as the frontier market lures bets from global players like Shell SHEL.L. To date no oil or gas has been found in Uruguayan waters, but the licenses have nonetheless drawn

OPEC working to keep oil markets stable, Saudi Energy Minister claims- oil and gas 360

OPEC working to keep oil markets stable, Saudi Energy Minister claims

World Oil (Bloomberg) – Saudi Arabia Energy Minister Prince Abdulaziz bin Salman said OPEC is working to keep oil markets stable and improve global energy security, without targeting any specific price level for crude. “Proactive, preemptive and precaution — these three words will address how we are attending to the situation knowing there are uncertainties coming from multiple directions,” Prince

Canada’s Trans Mountain pipe expansion to disrupt oil flow to US, boost prices- oil and gas 360

Canada’s Trans Mountain pipe expansion to disrupt oil flow to US, boost prices

Nasdaq CALGARY – Canada’s Trans Mountain oil pipeline expansion (TMX), which will nearly triple the flow of crude from Alberta to Canada’s Pacific Coast beginning early next year, will shake up North America’s supply by diverting barrels now mainly delivered to refiners and exporters in the U.S. Midwest and Gulf Coast. Its startup could add as much as $2 per

IEA’s peak oil demand forecast “wilting under scrutiny,” Aramco CEO says-oil and gas 360

World oil leaders criticize IEA’s politicization amidst climate debate

World Oil (Bloomberg) – The opening day of the World Petroleum Congress, a major oil industry conference, saw consensus on at least one point: scorn for the International Energy Agency and its politicization amidst the climate debate. Saudi Arabia’s energy minister, the head of a group of African oil producers, and the premier of Alberta — which is hosting of

Oil prices hit 10-month highs on mounting supply concerns- oil and gas 360

Oil prices hit 10-month highs on mounting supply concerns

Investing Oil prices jumped over 1% on Tuesday to 10-month highs, as weak U.S. shale output compounded supply concerns from extended production cuts by Saudi Arabia and Russia. Global benchmark Brent crude futures were up $1.13, or 1.2%, to $95.56 a barrel by 11:14 a.m. EDT (1514 GMT). It hit a session high of $95.96 a barrel, the highest since November. U.S. West