December 17, 2025 – Oil & Gas 360

Phillips 66 sees strong support for Western Gateway Pipeline

December 17, 2025

(Oil Price)– The newly proposed Western Gateway Pipeline, planned to ship fuels from Midwest refineries all the way to California, is gathering growing support from federal, state, and industry circles, according to one of the project’s proponents, refining giant Phillips 66. Phillips 66 and pipeline giant Kinder Morgan unveiled in October plans for the Western Gateway Pipeline, which could become the

Large critical minerals deposit discovered in Utah

December 17, 2025

(Oil Price)– A Utah company has unearthed a massive deposit of critical minerals, describing it as potentially “one of North America’s most significant” finds to date. According to Ionic Minerals Technology, assays from its Silicon Ridge project in Utah have confirmed the presence of 16 critical minerals, including germanium and gallium, in the halloysite-hosted ion-adsorption clay (IAC) system, a geological system that’s

EU lawmakers approve plan to phase out Russian gas by 2027

December 17, 2025

(Investing)– The European Parliament voted on Wednesday to approve the European Union’s plan to phase out Russian gas imports by late 2027. The approval marks a significant step forward for the initiative, which now faces just one remaining legal hurdle before becoming law. The Russian gas ban still requires formal approval from EU countries’ ministers, with that vote expected to

Vitol deal revives Uganda’s $4 billion refinery ambitions

December 17, 2025

(Oil Price)– Commodity trading major Vitol will provide $2 billion in loans for the Ugandan government, to be used for energy infrastructure projects, including a refinery, Reuters has reported, citing a Ugandan government official. The 60,000-barrel-daily facility is one of the key infrastructure projects related to the East Africa Crude Oil Pipeline that will carry Ugandan crude to the East

Oil jumps over 1% as Trump orders blockade of sanctioned oil tankers leaving, entering Venezuela

December 17, 2025

(BOE Report)– U.S. crude futures rose more than 1% on Wednesday as U.S. President Donald Trump ordered “a total and complete” blockade of all sanctioned oil tankers entering and leaving Venezuela. U.S. crude futures were up 1.3%, or 72 cents, to trade at $55.99 at 0022 GMT. Oil prices settled near five-year lows in the previous session on progress in

US readies new Russia sanctions if Putin rejects peace deal, Bloomberg News reports

December 17, 2025

(BOE Report)– The United States is preparing a further round of sanctions on Russia’s energy sector to increase the pressure on Moscow should President Vladimir Putin reject a peace deal with Ukraine, Bloomberg News reported on Wednesday, citing people familiar with the matter. The U.S. is considering options such as targeting vessels in Russia’s so-called shadow fleet of tankers used

Global coal demand hit record high this year but is set to decline by 2030, IEA says

December 17, 2025

(Investing)– Global coal demand reached a record high in 2025 but is expected to decline by 2030 as renewables, nuclear power and abundant natural gas squeeze its dominance in power generation, the International Energy Agency said on Wednesday. Weaning the world off coal is considered vital to achieving global climate targets, but the fossil fuel remains the single biggest fuel

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