(Reuters) – Cenovus Energy’s 172,000-barrel-per-day Lima, Ohio, refinery experienced mechanical issues caused by a major winter storm that hit much of the United States over the weekend, industry monitor IIR Energy said on Monday. The refinery experienced mechanical issues brought about by the storm on Sunday, IIR Energy said, adding that efforts to fix the …
(Reuters) – U.S. oil producers lost up to 2 million barrels per day or roughly 15% of national production over the weekend, analysts and traders estimated, as a winter storm swept across the country, straining energy infrastructure and power grids. Oil production outages peaked on Saturday, consultancy Energy Aspects estimated, with the Permian Basin likely …
US Energy Sector Reels After Winter Storm Knocks Out 2 Million bpd of Crude Output Read More »
(Reuters) – U.S. shale production could fall by as much as 400,000 barrels of oil per day in 2026 if OPEC countries try to increase market share and oil prices fall to as low as $40 a barrel, according to Rystad Energy CEO Jarand Rystad. U.S. shale production could remain flat if prices stay close …
(Reuters) – The Trump administration on Monday invited the oil and gas industry to nominate areas for a potential sale of offshore oil and gas leases in Southern and Central California to be held as soon as next year. WHY IT’S IMPORTANT The move is part of a push by U.S. President Donald Trump’s Interior …
(Reuters) – Oilfield services company Baker Hughes said on Monday that there is significant revenue opportunity in Venezuela, with the main considerations for operating there being safety and conditions for employees, and clarity on legal and regulatory frameworks. The Houston-headquartered company has been working with authorities on Venezuela after the U.S. earlier this month removed …
Baker Hughes Sees Significant Revenue Opportunity in Venezuela Read More »
By Julian Lee Oil traders seeking to plot the path for prices this year are juggling sharply different assessments of the supply-demand outlook, from a huge surplus to a broadly balanced market. The world’s three main forecasting agencies — the International Energy Agency, the US Energy Information Administration and the Organization of the Petroleum Exporting …
Oil Market’s Watchmen Are at Loggerheads Over 2026 Outlook Read More »
LONDON, Jan 26 (Reuters) – Britain, Germany, Denmark and other European countries will sign a clean energy pact at a summit in Hamburg on Monday, pledging to deliver 100 gigawatts (GW) of offshore wind power through large-scale joint projects, the British government said. The agreement comes days after U.S. President Donald Trump stepped up criticism …
European Nations Reinforce Wind Power Commitment With 100 GW Pledge Read More »
By Kate Abnett EU to halt Russian LNG by end-2026, pipeline gas by 2027 Companies face penalties for non-compliance with gas ban Hungary to challenge ban in court BRUSSELS, Jan 26 (Reuters) – European Union countries on Monday gave their final approval to ban Russian gas imports by late 2027, making their vow to cut …
EU Countries Give Final Approval to Russian Gas Ban Read More »
By Ahmad Ghaddar and Olesya Astakhova LONDON/MOSCOW, Jan 26 (Reuters) – OPEC+ is expected to keep its pause on oil output increases for March at a meeting on Sunday, three OPEC+ delegates told Reuters, with prices rising due to a drop in Kazakhstan’s oil production. The meeting of eight members of OPEC+, which pumps about …
OPEC+ Likely to Maintain Oil Production Pause for March as Prices Climb, Sources Say Read More »
(Reuters) – U.S. natural gas futures soared by a record 89% over five days to a three-year high on Monday after an Arctic blast at the weekend froze oil and gas wells, cutting gas production to a two-year low on Sunday. On Monday, front-month gas futures for February delivery on the New York Mercantile Exchange …
US Natgas Futures Soar 89% Over Five Days as Freezing Wells Cut Output to Two-Year Low Read More »
