(WO) – Baytex Energy Corp. has entered into a definitive agreement to sell some of its Viking assets located at Forgan and Plato in southwest Saskatchewan, effective October 1, 2023, for $153.8 million. Production from the assets is …
The Biden administration on Tuesday will auction off 35,000 acres (14,164 hectares) of land in Wyoming to oil and gas drillers, the first in a series of such sales that will coincide with a United Nations’ conference aimed at …
(Bloomberg) – Oil executives are flocking to Venezuela to take advantage of lighter U.S. sanctions, even though there’s a risk that access to the world’s largest oil reserves might snap shut as quickly as it opened.
Companies including …
Sustainability-linked loans, or SLLs, have only been around for a few years. In that short time, they have ballooned into a market worth $1.5 trillion. But now, as scrutiny comes for sustainability claims with no substance, that market …
LONDON :OPEC+ is looking at deepening oil production cuts despite its policy meeting being postponed to this Thursday amid a quota disagreement between some producers, an OPEC+ source said on Monday.
Several analysts have said they expect OPEC+ to …
NEW YORK – Oil prices jumped over 2% on Tuesday on the possibility OPEC+ will extend or deepen supply cuts, a storm-related drop in Kazakh oil output and a weaker U.S. dollar. Brent crude futures were up $1.88, …
An OPEC+ source told Reuters on Monday that the expanded cartel is considering bigger oil output cuts during its November 30 meeting, which was originally delayed for four days over a production quota dispute between OPEC leaders and …
(Bloomberg) – Ahead of the delayed OPEC+ meeting on Thursday, there are indications oil supply is running ahead of demand, highlighting the thorny challenge facing the group as it prepares to set production policy for 2024.
With futures
This week saw the release of the latest report from the International Energy Agency, which called for a fast reduction in oil and gas investments and production, embracing alternative energy sources instead to help advance the transition.
Also …
(Bloomberg) – Argentina’s YPF SA surged the most on record following the election of outsider presidential candidate Javier Milei, who said he plans to privatize the state-owned oil and gas producer and remove controls stymieing the sector.
The …
DUBAI – OPEC Secretary General Haitham Al Ghais on Monday accused the International Energy Agency (IEA) of vilifying the oil and gas industry, in the latest clash between the groups over climate policy.
Al Ghais was referring to a …
The Biden administration is pushing for widespread electrification in less than 20 years through government subsidies and coercive regulations as part of its aggressive climate agenda. The truth is that President Joe Biden’s goals are an illusion at …
LONDON – Oil prices fell on Monday, with the Brent benchmark dropping near $80 a barrel as investors awaited this week’s OPEC+ meeting and expected curbs on supplies into 2024. Brent crude futures LCOc1 were down 35 cents, or …
The world’s top oil fund, United States Oil ETF (NYSEARCA: USO), booked on Tuesday its biggest daily outflows since December 2016 amid heightened volatility ahead of the OPEC+ meeting which was scheduled for the coming weekend …
LONDON – An OPEC technical panel invited a top financial market dealer to give a presentation this week which painted a bearish outlook for the oil market, according to materials from the presentation seen by Reuters.
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LONDON – Oil prices tanked 4% on Wednesday as OPEC+ producers unexpectedly delayed a meeting on output planned for Sunday, raising questions about the future course of crude production cuts.
Brent crude futures was down $3.39, or 4.1%, to …
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 8.7 million barrels from the previous week. At 448.1 million barrels, U.S. crude …
The current oil market deficit will turn into a slight surplus next year even if OPEC+ leaders Saudi Arabia and Russia extend their production and export cuts into 2024, Toril Bosoni, the Head of Oil Industry and Markets …
The U.S. Coast Guard on Monday said it was still looking for the source of a leak from an underwater pipeline off the Louisiana coast in the Gulf of Mexico that it estimated had released more than a …
Some American clean energy and technology startups are struggling to keep afloat while waiting for the U.S. Administration to disburse the pledged loans and funds under the landmark Inflation Reduction Act (IRA).
Several startups have already filed for …
LONDON – Giant batteries that ensure stable power supply by offsetting intermittent renewable supplies are becoming cheap enough to make developers abandon scores of projects for gas-fired generation world-wide.
The long-term economics of gas-fired plants, used in Europe and …
Iran expects its oil production to rise to 3.6 million barrels per day (bpd) by the end of the current Iranian year in March 2024, from around 3.3 million bpd now, Iran’s Oil Minister Javad Owji has said.…
MOSCOW – As the world’s most powerful oil producers ponder further supply cuts, Russia has little incentive for a radical change as its energy revenue is strong, oil prices are higher than its forecasts and its budget deficit is …
OPEC’s third-largest producer, the United Arab Emirates (UAE), could raise its oil output next year as it has won a higher quota under the OPEC+ agreement.
The UAE, OPEC’s third-biggest producer after Saudi Arabia and Iraq, said in …
Brent and U.S. crude futures climbed more than 2.5%, gaining $2 a barrel on Monday, as further supply cuts in OPEC+ production are expected in the coming weeks.
Brent crude futures were up $2.19 to $82.80 a barrel by …
Venezuela is close to approving a license for Shell and the National Gas Company of Trinidad and Tobago to develop a promising offshore natural gas field and export its production to the Caribbean country, two people close to …
(WO) — As a result of the order issued by the United States Court of Appeals for the Fifth Circuit on Nov. 14, 2023, the Bureau of Ocean Energy Management (BOEM) has scheduled Lease Sale 261 for Dec. …
Goldman Sachs expects OPEC to not let oil prices slide too much below $80 per barrel next year and use its pricing power to keep them in the $80-$100 range, the bank said in a note this week, …
