Oil Price Canadian Prime Minister Justin Trudeau’s announcement on Thursday that the fossil fuel industry will have to slash emissions by 35% to 38% below 2019 levels beginning in 2030 has led to an industry backlash warning that this policy will result in a significant reduction of output and high energy prices for consumers. “No sector of the economy should
Nasdaq BRUSSELS – Global energy trader Gunvor Group has increased its provision for an expected fine from the U.S. Department of Justice (DOJ) to $650 million, while making just over $1 billion in the first nine months of the year, two sources familiar with the matter said. The DOJ and U.S. Commodity and Futures Trading Commission (CFTC) have been investigating
World Oil AUSTIN – The Railroad Commission of Texas issued a total of 639 original drilling permits in November 2023. The total includes 588 to drill new oil or gas wells, five to re-enter plugged wellbores and 37 for re-completions of existing wellbores. The breakdown of well types for total original drilling permits in November 2023 is: 138 oil, 33
Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had an increase of 1 over last week, resulting in a total count of 626 rigs. Canada had an increase of 2 over last week, resulting in a total Canadian count of 194 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Barnett, the
Oil Price Commodity trader Trafigura paid its highest-ever dividends for its 2022/2023 financial year, after posting another record-high profit amid volatile markets. Trafigura, one of the biggest independent oil and commodity traders in the world, said in its 2022/2023 fiscal year results on Friday that its net profit jumped to about $7.4 billion for the year to September 30, 2023, up from $7
Nasdaq Ukrainian energy consumption hovered near record highs on Friday, increasing strains on the fragile power sector as nearly 500 settlements faced blackouts due to Russian shelling, air strikes and bad weather, officials said. Ukraine, an exporter of electricity before Russia’s invasion in February 2022, has been forced to turn to emergency power imports from neighbouring Romania and Poland this
Today LONDON :Oil benchmarks were on track for a seven-week decline on Friday, their first in half a decade, on worries about a supply surplus and weak Chinese demand, though prices rebounded after Saudi Arabia and Russia lobbied OPEC+ members to join output cuts. Brent crude futures were up US$1.46, or 2per cent, at US$75.51 a barrel at 1431 GMT,
Calgary, Alberta–(Newsfile Corp. – December 7, 2023) – Suncor (TSX: SU) (NYSE: SU) announced tod…
Oil Price This week, a report from a climate organization warned that emissions from the combustion of hydrocarbons are set for a record this year. This is despite the massive buildout of wind and solar capacity, hundreds of billions of investments in alternatives of hydrocarbons, and pledges for a lot more. There appears to be a gap between stated goals and
World Oil (Bloomberg) – Venezuela is in advanced talks on new deals with European energy majors Repsol SA and Eni SpA as the Andean nation seeks to reassert itself as a global oil producer after the U.S. eased sanctions. The Spanish and Italian companies are hammering out contract terms between their oil ventures and state-owned Petróleos de Venezuela SA, according
2023-12-07 14:30:02 ET InvestorPlace – Stock Market News, Stock Advice & Trading Tips…
Nasdaq DUBAI – The global nuclear industry got a morale boost at the COP28 climate summit in Dubai after more than 20 nations vowed to triple capacity by 2050. But reaching that goal will require the industry to overcome regulatory hurdles, financing obstacles, fuel bottlenecks, and public safety concerns that have contributed to a long history of project delays and decades of
