Publisher’s Note: Eni SpA will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown, August 17-20, 2025. Register to attend. (World Oil) – Venture Global and Itay’s Eni today announced the execution of a new Sales and Purchase Agreement (SPA) for the purchase of 2 MMtpa of liquefied natural gas (LNG) from CP2 LNG, Venture Global’s third project, for 20 years. This
(EIA) – In 2024, the United States consumed about 94 quadrillion British thermal units (quads) of energy, a 1% increase from 2023, according to our Monthly Energy Review. Fossil fuels—petroleum, natural gas, and coal—accounted for 82% of total U.S. energy consumption in 2024. Nonfossil fuel energy—from renewables and nuclear energy—accounted for the other 18%. Petroleum remained the most-consumed fuel in the
(Oil Price)– The mining sector continues to face new and growing challenges. President Trump only yesterday pushed copper prices to record highs after threatening 50 percent tariffs on the precious metal. Latin America is as exposed as any other region to the US tariff policy. But when it comes to the green energy transition, it’s mining companies and governments that
(World Oil)– SLB has successfully completed its previously announced $7.8 billion acquisition of ChampionX. The announcement follows a period of regulatory delays amid competition concerns, with the final regulatory hurdle being cleared yesterday as UK’s Competition and Markets Authority approved the deal to move forward. The acquisition strengthens SLB’s leadership in the production and recovery space. The integration of ChampionX
(BOE Report)– Giant shovels, driverless trucks and a dog-like robot have all helped Canada’s oil sands companies including Imperial Oil and Suncor become some of North America’s lowest-cost oil producers, driving down overheads even as the worst inflation in a generation pushed U.S. shale costs up. As the global oil industry enters a downturn due to economic uncertainty related to U.S.
(World Oil) – (Bloomberg) – The U.S. may depart the International Energy Agency without changes to forecasting that Republicans have criticized as unrealistically green, President Donald Trump’s energy chief said. “We will do one of two things: we will reform the way the IEA operates or we will withdraw,” Energy Secretary Chris Wright said during an interview Tuesday. “My strong
Weekly Crude Oil Storage as of July 11, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.9 million barrels from the previous week. At 422.2 million barrels, U.S. crude oil inventories are 8% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
