Phillips 66 Sells Majority Interest in European Fuel Retailer
Stonepeak and Energy Equation Partners acquired a 65% interest in JET Tankstellen Deutschland from Phillips 66 in a transaction valuing the business at US$2.8 billion.
First Nations in Canada to Invest US$511MM in Enbridge Pipeline
A partnership consisting of 36 First Nations in British Columbia, Canada, is acquiring a 12.5% stake in the Enbridge Westcoast natural gas pipeline system on traditionally Indigenous land.
IEA Predicts Slower Oil Demand Growth for the Rest of 2025, Met with Jump in Supply
Summary IEA adjusts 2025 global demand growth forecast higher by 20,000 bpd IEA hiked 2025 global supply growth forecast by 380,000 bpd IEA sees lower oil prices hitting U.S. shale oil output growth IEA sees global demand growing slower for rest of this year (Reuters) – The International Energy Agency (IEA) said on Thursday that …
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Oil Slides 3% on Expectations for US-Iran Nuclear Deal
Summary Trump says US close to securing Iran nuclear deal US crude stockpiles rose last week IEA slightly upgrades 2025 oil demand growth forecast (Reuters) – Oil prices fell by about $2 on Thursday on expectations for a U.S.-Iran nuclear deal that could result in sanctions easing, while a surprise build in U.S. crude oil …
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Middle Swath of North America at Risk of Power Shortfalls This Summer, Regulator Says
(Reuters) – The middle section of the U.S. and Canada could have a shortfall of electricity this summer if higher-than-normal forecasted temperatures drive up demand as a changing mix of power supplies increases reliability risks, the organization overseeing the area’s grid said on Wednesday. Electricity demand in the United States and Canada has grown by …
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Aramco Signs Up to $90 Billion in US Deals as Trump Gulf Tour Spurs Flurry of Tie-Ups
(Reuters) – Saudi Aramco unveiled 34 preliminary deals with major U.S. companies on Wednesday, potentially worth up to $90 billion in one of its broadest pushes to deepen commercial ties with the United States. The agreements underscore Saudi Arabia’s efforts to strengthen its energy partnerships and attract foreign investment as it looks to balance oil …
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Kazakhstan’s Oil Output Fell 3% in April But Stayed Above OPEC+ Quota
(Reuters) – Kazakhstan’s oil production fell 3% from March to 1.82 million barrels per day (bpd) in April, but was again above the country’s OPEC+ quota, according to an industry source familiar with the statistics, and Reuters calculations. Kazakhstan’s output has become the main point of contention inside OPEC+, with group leader Saudi Arabia demanding …
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OPINION: US Oil Output Has Peaked. But Don’t Expect a Rapid Decline.
Nothing suggests that a repetition of 2020’s plunge is imminent. By Javier Blas Prospecting. Photographer: Jordan Vonderhaar/Bloomberg The chain-smoking protagonist of Landman, the American television drama series about the Texas oil industry, puts it better than anyone else: “You want oil to live above 60, but below 90,” says the fictional Tommy Norris. “Seventy-eight dollars …
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AI Boom Helps Score $12 Billion Deal for Little-Known LS Power
By Naureen S Malik Paul Segal Photographer: LS Power LS Power bet on buying and building natural gas power plants at a time when some analysts considered them almost relics, doomed to be sidelined by solar and wind. Now, utilities see gas-fired plants as essential to meeting a surge of electricity demand from new data …
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Colombian Oil Sector Seeks Protection From a Wave of Sabotage
By Andrea Jaramillo Pumpjacks in Colombia. Photographer: Nicolo Filippo Rosso/Bloomberg Colombia’s oil and gas association urged authorities to take “urgent action” after a surge in sabotage attacks on critical energy infrastructure. A group broke in and set fire to the Quifa field facilities in Meta province in central Colombia on Monday, the association known as …
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