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Kazakhstan Removes Energy Minister Amid Tensions with OPEC+, Oil Majors

(Reuters) – Kazakhstan’s energy minister will stand down from his role, the country’s presidential office said on Tuesday, as the government struggles to convince U.S. and European oil companies to lower production that exceeds OPEC+ targets. Almasadam Satkaliyev will become the head of the country’s newly created atomic energy agency, the presidential office said in …

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HSBC Forecasts Surplus Oil in 2025, 2026 on Strong Supply, Sluggish Demand Growth

March 18 (Reuters) – HSBC expects the oil market to be in a surplus in 2025 and 2026 due to strong supply and sluggish demand growth, the bank said in a note on Tuesday. The bank said that it expects a surplus of 200,000 barrels per day this year, revising its a previous forecast of …

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Partners in $2.2 Billion Deal to Buy California Gas Plants

Partners Group Holding AG, a Switzerland-based private equity firm, agreed to acquire a portfolio of 11 natural gas power plants in California from Avenue Capital Group. The transaction — comprising the 1.9-gigawatt portfolio and Middle River Power, the operator of the plants — has an enterprise value of $2.2 billion, Partners said in a statement Tuesday. California …

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US Natural Gas Pipeline Completions Boosted Takeaway Capacity, EIA Says

The U.S. Energy Information Administration said on Monday that natural gas pipeline projects completed in 2024 increased the country’s liquefied natural gas (LNG) takeaway capacity by 17.8 billion cubic feet per day (bcfd). Takeaway capacity refers to the maximum amount of gas a pipeline can transport away from a production area or storage facility on …

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