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Barclays on Thursday said it raised its Brent oil price forecast by $6 to $72 per barrel for 2025 and by $10 to $70 a barrel for 2026 on an improved outlook for demand. “Geopolitical tensions have eased as the U.S.-mediated ceasefire between Israel and Iran continues to hold and the risk premium has evaporated, …
Barclays Raises Brent Forecast to $72 Per Barrel for 2025 Read More »
By Salma El Wardany, Grant Smith, and Fiona MacDonald OPEC+ has begun discussing another 411,000 barrel-a-day production increase for August ahead of the group’s video-conference this weekend, according to delegates who asked not to be identified. Saudi Arabia and its partners have previously approved hikes of the same size for May, June and July as …
OPEC+ Discusses 411,000-Barrel Hike in August, Delegates Say Read More »
Crude shipments from key Middle East producers reached a two-year high in June. By Julian Lee Oil producers in the Middle East boosted crude shipments by 1 million barrels a day last month. But don’t worry: They say they’re not embarking on another free-for-all like the one we witnessed just before the Covid-19 pandemic crushed demand. The …
Is OPEC’s Supply Surge a Precautionary Move or a Market-Share Grab? Read More »
(Reuters) – TotalEnergies has sold 50% of its portfolio of renewable assets in Portugal and bought a half of AES’s renewable energy portfolio in the Dominican Republic, it said on Wednesday. The Portuguese assets were sold to a consortium composed of MM Capital Partners 2, Daiwa Energy & Infrastructure and Mizuho Leasing for 178.5 million …
TotalEnergies Sells Renewable Assets in Portugal, Buys Them in Dominican Republic Read More »
Major Canadian Oil Site Vents Most Gas Since 2021 Due to Wildfire Cenovus Energy Inc.’s Christina Lake oil-sands site vented 151,511 cubic feet a day of natural gas into the atmosphere in May, the most in over four years, due to an emergency shutdown caused by a wildfire. The shutdown was prompted by a wildfire …
Major Canadian Oil Site Vents Most Gas Since 2021 Due to Wildfire Read More »
(Reuters) – Global imports of liquefied natural gas (LNG) ticked higher in the first half of 2025 as stronger European demand pulled cargoes away from Asia. Total imports of the super-chilled fuel were 208.62 million metric tons in the first six months of this year, up 1.7% from the 205.11 million for the same period …
Europe Drives LNG Import Growth as Asia Stumbles on Higher Price Read More »
(Reuters) – Norway’s Equinor and its partners have approved a 13 billion Norwegian crown ($1.29 billion) investment for the expansion of Johan Sverdrup, western Europe’s largest producing oilfield, the company said on Tuesday. The project is expected to increase recoverable volumes from the field by between 40 million and 50 million barrels of oil equivalent, Equinor …
Equinor, Partners Approve $1.3 billion Johan Sverdrup Oilfield Expansion Read More »
Canada’s first-ever LNG export cargo has been shipped from the country’s Pacific Coast en route to Asia, a spokesperson for the Shell-led LNG Canada said on Monday. The cargo was loaded onto the tanker Gaslog Glasgow from LNG Canada’s site in Kitimat, British Columbia, just over a week after the facility confirmed first production and …
Canada Ships First LNG Export Cargo From Pacific Coast Read More »
(The opinions expressed here are those of the author, a columnist for Reuters) *Israel halted gas exports to Egypt after start of war with Iran *Exports were resumed on June 23, but highlight Egypt’s gas supply challenges *Egypt gas production declined sharply in recent years, unlikely to recover soon By Ron Bousso LONDON, June 30 …
Mideast War Highlights Egypt’s Energy Weak Spot: Bousso Read More »
Moratorium does little to improve marine safety while sending the wrong message to energy investors By Will Gibson Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The Port of Prince Rupert on the north coast of British Columbia. Photo courtesy Prince Rupert Port Authority In 2019, Martha Hall …
Why it’s Time to Repeal the Oil Tanker Ban on B.C.’s North Coast Read More »
