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At least two oil tankers have made their way to Venezuela in recent days and others are navigating towards the country, a sign of state-run PDVSA’s effort to expand floating storage and keep selling crude even as a U.S. blockade has reduced exports to a minimum. U.S. President Donald Trump this month announced a blockade …
Oil Tankers Still Arriving in Venezuela Despite US Blockade, Data Shows Read More »
Venezuela started shutting wells in a region that holds the world’s largest deposits of oil in the face of a blockade by the Trump administration meant to financially squeeze the nation. Petroleos de Venezuela SA began shuttering wells in the Orinoco Belt on Dec. 28 as the state-run refiner ran out of storage space and …
Venezuela Starts Shutting Oil Wells as US Blockade Halts Flows Read More »
Summary European Union has agreed to phase out Russian fossil fuel imports Decline in imports follows closure of Ukrainian route TurkStream is the only remaining route (Reuters) – Russia’s pipeline gas exports to Europe sank by 44% in 2025 to their lowest since the mid-1970s, following the closure of the Ukrainian route and as the …
Russia’s Pipeline Gas Exports to Europe Fall by 44% to the Lowest in Decade Read More »
By Robert Harvey CPC Blend exports drop to 1.14 million bpd from initially planned 1.7 million bpd Kazakhstan may have to curb output, given lack of alternative export routes, analyst says Global oil majors hold stakes in Kazakh oil industry MOSCOW/LONDON, Dec 24 (Reuters) – Kazakhstan’s exports of its flagship CPC Blend of oil will …
Kazakhstan’s December Crude Exports Sink to 14-Month Low After Ukraine Drone Strikes Read More »
Clyde Russell LAUNCESTON, Australia, Dec 23 (Reuters) – Conventional wisdom in the crude oil market is that producers such as OPEC+ largely determine the price by altering output levels to achieve a desired outcome. That shibboleth was challenged in 2025 by China, which used its status as the world’s biggest oil importer to provide an effective price floor …
China Overtakes OPEC+ as the Main Oil Price Maker Read More »
Malaysian state-owned energy firm Petroliam Nasional said on Wednesday it would supply Chinese offshore oil and gas company CNOOC with 1 million metric tons per annum of liquefied natural gas (LNG). The agreement between Petronas LNG and CNOOC Gas and Power Singapore Trading & Marketing builds upon existing cooperation between the two companies, Petronas said in a …
Malaysia’s Petronas signs LNG supply deal with China’s CNOOC Read More »
(Reuters) – Venezuela’s state-run oil company PDVSA has started filling up tankers with crude and fuel oil it has in storage as inventories mount amid moves by the U.S. to seize Venezuela-linked ships, according to company documents and shipping data. The U.S. Coast Guard this month intercepted the Skipper and Centuries tankers in the Caribbean …
Venezuela Resorts to Floating Storage as Onshore Tanks Fill Up Amid Ship Seizures Read More »
By Dorothy Neufeld | Graphics/Design Joyce Ma Key Takeaways Oil, coal, and natural gas were the leading sources of global energy demand in 2024. While coal demand is set to drop the most by 2050, solar and wind demand is forecast to surge. Fossil fuels powered 80% of global energy demand in 2024, with this …
Charted: Global Energy Demand by Fuel Type (2024-2050P) – Visual Capitalist Read More »
China’s foreign ministry on Monday said the United States’ seizure of another country’s ships was a serious violation of international law, after the U.S. intercepted a China-bound oil tanker off the Venezuelan coast. Venezuela has the right to develop relations with other countries, China’s foreign ministry spokesperson Lin Jian said at a daily press briefing, …
China Says US Seizure of Ships ‘Serious Violation’ of International Law Read More »
Australia will make exporters of liquefied natural gas from the country’s east coast keep up to a quarter of their output for domestic use from 2027, under a scheme unveiled on Monday to curb price spikes and help fill a long-forecast supply gap. The centre-left government of Prime Minister Anthony Albanese said it would work …
Australia Forces LNG Exporters to Keep a Minimum Amount for Home Market Read More »
