Canada’s Cenovus Energy on Thursday forecast higher crude oil production for 2026 as major oil sands projects near completion. The company expects upstream production between 945,000 and 985,000 barrels of oil equivalent per day (boepd) for 2026, surpassing its 2025 forecast range of 805,000 to 845,000 boepd.The producer said it would allocate C$850 million in spending …
Cenovus Energy Forecasts Higher Production in 2026 Read More »
(Reuters) – U.S. oil production is expected to hit a larger record this year than previously expected, the Energy Information Administration said on Tuesday, as expectations mount of a global supply glut. The agency raised its forecast for 2025 oil production by 20,000 to average 13.61 million barrels per day in 2025, the highest on …
EIA Lifts 2025 US Oil Output Forecast to a Record High as Supplies Swell Read More »
Oil production in the Permian basin is poised to peak in December, a watershed moment for the U.S. shale boom that upended the global energy market over the past 15 years. Yet drilling innovations mean output in America’s most prolific oil patch will hold steady for years to come. The Permian basin, which straddles West …
Permian to Retain US Oil Crown Even After Hitting Peak Read More »
(Reuters) – Oil buyers in Asia are demanding deep discounts on Venezuelan crude due to a flood of sanctioned oil from Russia and Iran on offer and to heightened risk of loading in the South American country as the U.S. boosts its military presence in the Caribbean, traders and other sources said. Venezuela has managed …
Venezuela Forced to Double Discount on Oil to Asia Due to Flood of Sanctioned Crude Read More »
(Reuters) – BP, Chevron and Shell were among the top bidders on Wednesday at the U.S. government’s first sale of oil and gas drilling rights in the Gulf of Mexico since 2023. The auction, which ended with $279.4 million in high bids, was the first of 30 mandated by U.S. President Donald Trump’s tax cut …
BP, Chevron Are Top Bidders at First Trump Gulf of Mexico Oil and Gas Auction Read More »
(Reuters) – U.S. pipeline operator Energy Transfer has secured enough agreements to sell liquefied natural gas to make a final investment decision on its Lake Charles LNG project early next year, an executive said on Wednesday at the Reuters Energy Live conference in Houston. Energy Transfer has been developing the LNG export facility in Louisiana, …
Energy Transfer Says Lake Charles LNG Investment Nod Expected in Early 2026 Read More »
(Reuters) – U.S. sanctions against Russian oil majors Lukoil and Rosneft could trigger a structural reshaping of the global oil sector over the next year, reversing Moscow’s decades-long efforts to expand its international clout through energy investment. When President Donald Trump in October slapped sanctions on Rosneft and Lukoil, which together account directly or indirectly …
Trump Sanctions on Lukoil, Rosneft Could Reshuffle Global Oil Map: Vladimirov Read More »
(Reuters) – Venture Global submitted its response late on Tuesday to a legal challenge from Shell over the oil major’s defeat in an arbitration case concerning liquefied natural gas cargoes, rejecting allegations of fraud and accusing Shell of breaching arbitration confidentiality. The legal documents submitted in New York Supreme Court mark the latest development in …
Venture Global Hits Back at Shell’s Fraud Claims in LNG Arbitration Battle Read More »
By Yagnoseni Das Dec 10 (Reuters) – Shares of GE Vernova (GEV.N) surged to a record high on Wednesday after the power-equipment maker forecast higher revenue for 2026 and raised its buyback program by $4 billion. Surging electricity demand from artificial intelligence and other data-heavy industries is driving strong growth across the company’s grid and …
GE Vernova Hits Record High on Bullish 2026 Revenue Outlook, Buyback Boost Read More »
Ron Bousso (Reuters) – Venezuela is likely to retain its seat in OPEC even if U.S. President Donald Trump successfully forces a change of government in the oil-rich country, as the U.S. is seeking to bolster its alliance with the cartel even as it expands its own sphere of influence. The U.S. has recently been increasing pressure on Venezuelan …
Trump Won’t Turn Venezuela’s OPEC Membership into a Battleground Read More »
