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Devon Energy provides Full-Year Forecast After Merger With Coterra Energy

Energy Topics & Technology, Exploration & Production, Forecasts, Latest, Mergers and Acquisitions, US News / By

June 9 (Reuters) – Devon Energy (DVN.N) on ​Tuesday said it expects ‌production to average 1.38 million barrels of oil equivalent per ​day in 2026, including ​oil output of 500,000 barrels ⁠per day, following the completion ​of its merger with ​Coterra Energy. The U.S. oil and gas producer forecast full-year 2026 capital spending ​of about …

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ADNOC Eyeing Canada Upstream and LNG Opportunities Via XRG Arm, Executive Says

CDN and International News, Conventional Energy, Latest, Oil / By

(Reuters) – Abu Dhabi National Oil Company is exploring opportunities in Canada’s upstream and liquefied natural gas sectors through its international arm XRG, a senior company executive said on Tuesday at the Global Energy Show in Calgary. Musabbeh Al Kaabi, ADNOC’s CEO of upstream, did not provide details on what specific investments the company may …

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Oil Inventories are Headed Toward Multi-Decade Lows, US EIA Warns

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil, US News / By

NEW YORK, June 9 (Reuters) – Oil stockpiles ​in the world’s largest economies ‌were headed toward the lowest levels since at least 2003 ​as top consuming nations tapped ​inventories at a record pace to ⁠plug the loss of ​over 11 million barrels a ​day of Middle Eastern output due to the Iran war, the U.S. …

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US Energy Secretary Says Ship Traffic Through Strait of Hormuz Rising ‘Very Meaningfully’

Conventional Energy, Latest, LNG, Oil, US News / By

(Reuters) – U.S. Energy Secretary Chris Wright said on Tuesday that ship traffic through the Strait of Hormuz is rising “very meaningfully” as the conflict with Iran continues. “I would say rising very meaningfully,” Wright said when asked how ship traffic is flowing through the Strait compared to a week or two ago. Wright made …

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New York State’s Electricity Reserves are Shrinking, Grid Operator Says

Electricity Grid, Energy Topics & Technology, Latest, US News / By

(Reuters) – Electricity supplies in New York have shrunk over the last five years, leaving one of the most populous U.S. states at risk of falling short of the energy needed to power homes and businesses on the hottest and coldest days of the year, the state grid operator said on Tuesday. The retirement of …

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Permian Strategic Partnership Highlights $2.3 Billion in Regional Investment and Expanding Economic Impact Across the Permian Basin

Conventional Energy, Latest, Oil, Press Releases, US News / By

  New reports show the Permian Basin supports more than 940,000 U.S. jobs, generates billions in state revenue, and continues driving American energy leadership. MIDLAND, Texas, June 9, 2026 /PRNewswire/ — The Permian Strategic Partnership (the PSP), a coalition of 25 leading Permian Basin energy companies and two university systems, today released its 2025 Annual …

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LNG Demand in Asia Recovers From Iran Shock as China Buys

CDN and International News, Latest, LNG, Pinned Primary / By

Liquefied natural gas demand in Asia is quietly recovering from the shock of losing almost 20% of global supply to the Iran conflict as top buyer China shows signs of returning to the market. The biggest-importing region is on track for arrivals of 21.83 million metric tons in June, the most for five months and …

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Global Offshore Wind Capacity Set to Grow to 420 GW by End of 2035, GWEC Report Says

CDN and International News, Latest, Renewable Energy, Wind / By

( Reuters) – Global offshore wind capacity is set to quadruple over the next decade to reach ​420 gigawatts (GW) by the end of 2035, ‌a report by the Global Wind Energy Council (GWEC) showed on Tuesday. Around 92 GW of offshore wind was installed by ​the end of 2025, enough to power ​around 100 …

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Canada Trade Surplus Hits 15-Month High in April on Soaring Crude Prices

CDN and International News, Conventional Energy, Latest, Oil / By

    (Reuters) – Crude oil prices pushed up by the Iran war helped propel Canada’s goods trade surplus in April up by ​55% to a 15-month high of C$2.72 billion ($1.95 billion), Statistics Canada ‌said on Tuesday. Analysts polled by Reuters had forecast a surplus of C$2.57 billion. Statscan revised March’s surplus down to …

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US Airlines’ Fuel Costs Soared in April to $6.5 Billion

Energy Topics & Technology, Gasoline, Latest, US News / By

By David Shepardson WASHINGTON, June 8 (Reuters) – Fuel costs for U.S. airlines jumped 78% in April to nearly $6.5 billion ​compared with the year before, as the Middle East conflict drives ‌up jet fuel prices, the U.S. Transportation Department said Monday. Airlines’ fuel costs were up 26% over March and carriers used 2.6% less …

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