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Venezuela Forced to Double Discount on Oil to Asia Due to Flood of Sanctioned Crude

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

(Reuters) – Oil buyers in Asia are demanding deep discounts on Venezuelan crude due to a flood of sanctioned oil from Russia and Iran on offer and to heightened risk of loading in the South American country as the U.S. boosts its military presence in the Caribbean, traders and other sources said. Venezuela has managed …

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Trump Sanctions on Lukoil, Rosneft Could Reshuffle Global Oil Map: Vladimirov

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

(Reuters) – U.S. sanctions against Russian oil majors Lukoil and Rosneft could trigger a structural reshaping of the global oil sector over the next year, reversing Moscow’s decades-long efforts to expand its international clout through energy investment. When President Donald Trump in October slapped sanctions on Rosneft and Lukoil, which together account directly or indirectly …

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Trump Won’t Turn Venezuela’s OPEC Membership into a Battleground

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

Ron Bousso (Reuters) – Venezuela is likely to retain its seat in OPEC even if U.S. President Donald Trump successfully forces a change of government in the oil-rich country, as the U.S. is seeking to bolster its alliance with the cartel even as it expands its own sphere of influence. The U.S. has recently been increasing pressure on Venezuelan …

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Morocco Gets Closer to Creating $1 Billion LNG Import Hub

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

By Souhail Karam Illustration of Nador West Med port in Morocco. Source: Marsa Maroc Morocco is getting closer to creating an almost $1 billion liquefied natural gas hub at a new deep-sea port on its Mediterranean coast, as it plans to boost imports to curb the use of dirtier fuels. The nation this week issued …

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Canada Open for AI Data Centres After Carney’s Energy Shift, Capital Power CEO Says

Artificial Inteligence, CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Natural Gas / By

Suspension of clean energy regulations will make it possible to build new gas-fired power plants to support large data centres By Robert Tuttle Capital Power Corp.’s top executive says it will become possible to build new gas-fired power plants to support large data centres in Alberta after the Canadian government relaxed environmental standards for electricity. …

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Australia Nears Gas Market Review That Could Squeeze LNG Exporters

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

Australia is set to issue a gas market review that could curb exports of liquefied natural gas from its east coast, where three operators led by firms such as Shell and Santos send cargoes to Asia and beyond. The review, which industry watchers expect Canberra to release as soon as this week, could include a policy …

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Canada’s Newest Oil Tycoon Shakes Up Sector With Bold Expansion Plan

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

Summary Strathcona plans to increase production to 300,000 bpd by 2035 Company is one of North America’s fastest-growing oil producers Waterous known for outspoken style (Reuters) – Canadian banker-turned-oil-tycoon Adam Waterous, an industry outsider who lives in a Rocky Mountain tourist town, not energy hub Calgary, has a plan to cement his company’s status as …

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Kazakhstan’s CPC Oil Pipeline Will Not Return to Full Export Capacity Before December 11, Sources Say

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

(Reuters) – Kazakhstan’s Caspian Pipeline Consortium, which accounts for 1% of global crude supply, will not return to full export capacity until at least December 11 after a Ukrainian drone attack damaged a key part of its terminal, two industry sources told Reuters. The CPC terminal, which handles around 80% of Kazakhstan’s oil exports, was …

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G7’s Russian Oil Tanker Ban Shows Teeth, But Bite is in Doubt: Bousso

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

The G7’s proposed plan to bar tankers from hauling Russian oil ups the ante in the West’s economic stand-off with Moscow, but the ultimate bite hinges on whether governments will ratchet up punishments on those skirting sanctions. And with Russian President Vladimir Putin working tirelessly to strengthen Moscow’s own alliances, including India and China, the …

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Poland Eyes LNG Buildout to Shape Europe’s Post-Russia Gas Flows

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

Poland is aiming to become the main entry point for global LNG into Central and Eastern Europe as Europe moves away from Russian gas The country is considering new liquefied natural gas infrastructure, including a potential new floating LNG import terminal on the Baltic Sea, to transform itself into a regional gateway. Poland’s central position …

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