CDN and International News - Today in Oil and Gas

Danielle Smith: Canada Has Taken The First Step to Becoming An Energy Superpower

Canadians support agreement between Alberta and Ottawa and the major economic opportunities it could unlock for the benefit of all By Danielle Smith Original: financialpost.com/news/economy/danielle-smith-canada-first-step-becoming-energy-superpower If Canada wants to lead global energy security efforts, build out sovereign AI infrastructure, increase funding to social programs and national defence and expand trade to new markets, we must …

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Chevron’s Gorgon LNG Project Secures $2 Billion Investment Nod

CDN and International News, Conventional Energy, Latest, LNG / By mark

The Australian unit of U.S. oil giant Chevron said on Friday that the partners of the Gorgon Joint Venture have approved the A$3 billion ($1.98 billion) Gorgon Stage 3 development off Western Australia’s northwest coast. The development will be used as backfill for the existing LNG export concern and will link the offshore Geryon and Eurytion …

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Kazakhstan’s Oil Output Declines as Exports Curbed by Damaged Terminal, Source Says

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(Reuters) – Kazakhstan’s oil and gas condensate production declined by 6% in the first two days of December, an industry source said on Thursday, following a Ukrainian drone attack on the Caspian Pipeline Consortium’s (CPC) Black Sea loading facility. The CPC pipeline, which carries over 80% of Kazakhstan’s oil exports and handles more than 1% …

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EU Finalizes Deal to Phase Out Russian Gas Imports by 2027

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Pipelines / By mark

By Ewa Krukowska and Stephen Stapczynski The European Union has reached a deal to phase out Russian gas faster than originally planned, a move that aims to finally sever ties between the bloc and its once-primary energy supplier. In the aftermath of the invasion of Ukraine, traders and energy companies have closely monitored the EU’s …

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Canadian Oil Tumbles to Weakest Since March as World Glut Builds

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Heavy Western Canadian Select fell to US$13 below West Texas Intermediate on Tuesday By Robert Tuttle Canadian crude prices have fallen to their weakest relative to the U.S. benchmark since March as surging production from Alberta meets an already well-supplied world market. Heavy Western Canadian Select, traded in Alberta for January, fell to US$13 below …

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Venezuela’s Oil Exports Surpass 900,000 bpd Despite US Pressure, Data Shows

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(Reuters) – Venezuela’s oil exports rose slightly to some 921,000 barrels per day (bpd) in November, the third-highest monthly average so far this year, as the country used more diluents to produce exportable grades, according to shipping data and documents. The OPEC producer is under increasing political pressure from the U.S., which has struck a …

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Pemex Debt is Red Flag for Potential Partners as Mexico Seeks to Boost Oil Output

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It has been over a month since the head of Pemex made a plea for partners to help Mexico’s ailing state oil company on projects needed to boost dwindling production, but national and international companies have not yet bitten. “We’re open,” Victor Rodriguez told the assembled executives on October 23, at an energy event in …

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OPEC+ Members to Undergo Annual Oil Capacity Audit Under New Plan, Sources Say

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By Alex Lawler, Ahmad Ghaddar and Olesya Astakhova Consultants to be appointed to carry out capacity assessments Saudi minister says OPEC+ meeting was one of most successful in his career OPEC+ meeting on Sunday agreed a new maximum production capacity mechanism LONDON/MOSCOW, Dec 2 (Reuters) – OPEC+ members will undergo an annual assessment of their …

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Exxon in Talks With Iraq About Buying Lukoil Stake in Giant West Qurna 2 Oilfield, Sources Say

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil / By mark

By Ahmed Rasheed and Aref Mohammed Lukoil seeks to sell assets due to U.S. sanctions West Qurna 2 is Lukoil’s largest foreign asset Exxon preferred by Iraq for West Qurna 2 takeover BAGHDAD, Dec 2 (Reuters) – Exxon Mobil (XOM.N) has approached the Iraqi oil ministry to express its interest in buying Russian firm Lukoil’s …

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Trump Rejected Maduro Requests on Call, Options Narrow for Venezuela Leader, Sources Say

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Venezuela’s President Nicolas Maduro is running out of options to step down and leave his country under U.S.-guaranteed safe passage, following a short call with U.S. President Donald Trump last month where Trump refused a series of requests from the Venezuelan leader, according to four sources briefed on the call. The call, on November 21, …

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