(BOE Report)– U.S. liquefied natural gas company Freeport LNG’s export plant in Texas was on track to take in more natural gas on Friday in a sign that one of its three liquefaction trains has returned to service after shutting on Thursday, LSEG data and regulatory filings show. Freeport is one of the world’s most closely watched U.S. LNG export
(World Oil)– Russian energy giant Lukoil PJSC dissolved the supervisory board of its international business, the latest sign of how U.S. sanctions — the first of which begin on Friday — are affecting the firm. As part of the dissolution, the Moscow-based firm “recalled” Sergei Kochkurov, chief executive officer of the parent company, as well as Evgeny Khavkin and Gennady
(Oil price)– The COP30 climate summit is ditching an earlier draft of a roadmap to transition away from fossil fuels, according to the latest draft of negotiating texts at the global gathering in Belem, Brazil. Many countries at COP30 have mobilized and supported a so-called “roadmap” to transition away from fossil fuels. But the latest draft document of the summit has
This week’s Baker Hughes Rig Count shows that the U.S. increased by 5 last week, resulting in a total count of 554 rigs. Canada had an increase of 7 over last week, resulting in a total Canadian count of 195 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Granite Wash, the Marcellus, and the Permian regions
(World Oil)– The Trump administration is eliminating Energy Department offices focused on clean energy and renewables and, instead, creating units dedicated to hydrocarbons and fusion energy. The changes are part of an agency reorganization unveiled Thursday. The plan made no mention of staffing reductions as part of the realignment, and the agency didn’t immediately respond to a request for
(Oil Price)– The United Arab Emirates is ready to invest as much as $50 billion in Canada’s industries, notably energy and artificial intelligence, following a visit by Prime Minister Mark Carney in Abu Dhabi. Reuters reported the news, citing a statement by the Emirati authorities that did not feature any details on the investment agreement. Earlier reports, however, mentioned an investment
(World Oil)– U.S. offshore oil and gas development took a major step forward this week as the Department of the Interior (DOI) unveiled a draft five-year federal leasing program that opens the door to the most expansive Outer Continental Shelf (OCS) acreage offered in more than a decade. The proposal, covering 2026–2031, includes up to 34 potential lease sales across
Investing – LONDON -Oil prices fell on Friday, extending declines for a third session as the United States pushed for a Russia-Ukraine peace deal that could swell global supply while uncertainty over interest rates curbed investors’ risk appetite. Brent crude futures dropped by $1, or around 1.6%, to $39 a barrel by 1417 GMT. U.S. West Texas Intermediate crude (CLc1) was down
