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Russia’s Novak Says No Friction with OPEC+ Over Exceeding Production Quotas

CDN and International News, Energy Topics & Technology, Latest, OPEC / By

(Reuters) Russian President Vladimir Putin’s oil point man said on Thursday that there was no friction with OPEC+ due to Russia exceeding crude production quotas and that the world’s second largest oil exporter would compensate for its overpumping. Russia said on Wednesday that its crude oil production in June exceeded quotas set by the OPEC+ …

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TotalEnergies Q2 Earnings Fall 6% on Weak Refined Product and Gas Demand

CDN and International News, Conventional Energy, Exploration & Production, Latest, Oil / By

PARIS, July 25 – French oil major TotalEnergies reported a 6% fall in second-quarter earnings on Thursday, worse than analysts expected, hurt by lower refined product and gas sales and as European refining margins tumbled. Adjusted net income for the three months to June 30 was $4.7 billion, down from $4.96 billion a year earlier and $5.1 …

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Declining Mexican Crude Output Could Shatter Energy Independence Dream

CDN and International News, Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil / By

Summary Mexico will likely need to import crude after 2030 Zama and Trion fields to lift output but others decline rapidly (Reuters) – Mexico’s incoming President Claudia Sheinbaum will likely face a new challenge fulfilling the dream of energy independence that led her predecessor to spend $17 billion on a new refinery: a shortfall in domestic crude supply. …

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In Gas-Rich Venezuela, Next President Faces Problem of Producing It

CDN and International News, Conventional Energy, Latest, Natural Gas / By

(Reuters) Griselda Ascanio keeps an improvised wood-burning stove ready in her backyard in Maracay, 120 kilometers (75 miles) from Venezuela’s capital, for the frequent gas-supply interruptions that make it difficult to cook. “We cannot just cry about it,” said the 44-year-old administrator, who collects branches that fall from trees. “So we have learned to solve …

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EnBW to Invest 1 bln Euros as Germany’s Hydrogen Grid Takes Shape

CDN and International News, Energy Topics & Technology, Hydrogen, Latest / By

By Vera Eckert EnBW and subsidiaries to take part in national plan Pipeline group FNB has submitted overall plan to regulator Regulator expected to give approval in two months Aim is for construction to begin next year FRANKFURT, July 23 (Reuters) – EnBW (EBKG.DE) will invest 1 billion euros ($1.09 billion) in Germany’s planned national …

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Canadian Wildfires Threaten Oil Output, Prompt Evacuations

CDN and International News, Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil / By

Fires burn close to 388,000 barrels a day of oil production Jasper National Park is evacuated due to wildfire threat Wildfires in Canada’s energy-producing Alberta province are threatening almost 10% of the region’s oil production and forcing the evacuation of one of the country’s largest national parks during the peak summer tourist season. Hot weather …

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COP29 Host Azerbaijan Shelves Fossil Fuel Tax for Voluntary Fund

CDN and International News, Conventional Energy, Latest, Oil / By

Nation pitches raising $1 billion from nations, companies Country previously weighed imposing a levy based on production Azerbaijan, the host of this year’s United Nations climate summit, shelved a planned levy on fossil fuel production in favor of creating a voluntary fund with at least $1 billion for mitigation projects in developing countries. The proposed …

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Colombia’s Ecopetrol in Talks to Buy $3.6 bln CrownRock Stake From Occidental

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

(Reuters) – Colombia’s Ecopetrol (ECO.CN), opens new tab is in talks with U.S. oil producer Occidental Petroleum (OXY.N), opens new tab to possibly buy a 30% stake in shale oil producer CrownRock, in a transaction potentially worth $3.6 billion, the North American company said on Friday. Ecopetrol, Colombia’s majority state-owned energy company, said it … …

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ExxonMobil Selling Malaysia Oil and Gas Assets to Petronas, Sources Say

CDN and International News, Conventional Energy, Latest, Natural Gas, Oil / By

Exxon Mobil Corp has agreed to sell its Malaysian oil and gas assets to state energy firm Petronas, exiting the country’s upstream sector where it used to be a dominant producer, two sources with direct knowledge of the matter said. The U.S. major, which last year marked its 130th year in Malaysia, has been trying to …

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