CDN and International News - Today in Oil and Gas

Mexican President Calls on UN to ‘Avoid Bloodshed’ in Venezuela

(Reuters) – Mexican President Claudia Sheinbaum on Wednesday asked the United Nations to act in order to avoid bloodshed in Venezuela, as tensions escalate between the South American country and the United States. Sheinbaum said during her morning press conference that Mexico is against intervention and against foreign interference in Venezuela. “I call on the …

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Global Coal Demand Hit Record High This Year But is Set to Decline by 2030, IEA Says

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

Summary Renewables, nuclear, and natural gas to reduce coal’s dominance by 2030 India’s coal use declined due to intense monsoons boosting hydro power US coal consumption rose with higher gas prices and policy support China consumes 30% more coal than the rest of the world combined (Reuters) – Global coal demand reached a record high …

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Alberta’s Huge Oil Sands Reserves Dwarf U.S. Shale

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

Oil sands could maintain current production rates for more than 140 years By Will Gibson Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Pipelines at a thermal in situ oil sands facility. Photo courtesy Alberta Energy Regulator Investor interest in Canadian oil producers, primarily in the Alberta oil sands, …

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Venezuela Faces Big Oil Discounts, Pressure for Contract Changes After Tanker Seizure

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

(Reuters) – Venezuela’s state-run company PDVSA is dealing with stuck oil cargoes, rising price discounts and demands from customers to change terms of spot contracts following the U.S. seizure of a ship carrying the OPEC country’s crude, traders and sources said. As Washington’s pressure on President Nicolas Maduro grows, the U.S. Coast Guard last week …

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China Accelerates Crude Stockpiling Amid Weaker Oil Price Trend

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By Clyde Russell LAUNCESTON, Australia, Dec 16 (Reuters) – China’s flows of crude oil into storage probably jumped in November to the highest in six months, as a surge in imports overwhelmed steady refinery processing rates. China’s surplus of crude was about 1.88 million barrels per day (bpd) in November, almost three times the 690,000 …

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TotalEnergies Wins 21-Year Deal to Power Google Data Centres in Malaysia

Artificial Inteligence, CDN and International News, Energy Topics & Technology, Latest, Renewable Energy, Solar / By mark

Dec 16 (Reuters) – France’s TotalEnergies (TTEF.PA) said on Tuesday it had signed a 21-year power supply deal with Alphabet’s Google (GOOGL.O), pledging to supply 1 terawatt hour of renewable energy to support its data centres in Malaysia. The French energy major said the power would be generated by the new Citra Energies solar plant …

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Ample Oil Supply Shields China From Impact of Venezuela Disruption, For Now

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(Reuters) – The volume of Venezuelan oil already headed to China before the U.S. seized a Venezuelan tanker last week, plus a glut of crude in storage and weak demand, will limit the near-term impact of the move in the Chinese market, traders and analysts said. Exports from the South American producer have fallen sharply …

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Ukraine Hits Russian Oil Infrastructure In Caspian For Second Time

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KYIV, Dec 12 (Reuters) – Ukrainian drones struck two Russian oil rigs in the Caspian Sea, an official in the Security Service of Ukraine (SBU) said on Friday. The source said SBU drones hit the Filanovsky and Korchagin oil rigs, which both belong to Russia’s Lukoil (LKOH.MM). The Filanovsky rig – part of Russia’s largest …

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The Cold War on Oil Tankers Heats Up

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Hauling petroleum around the world in ships is no longer a humdrum business. By Julian Lee The cold war on sanctioned oil is heating up. Drone strikes and boarding parties have raised the risk of shipping blacklisted barrels. On Wednesday, the US seized a tanker hauling as much as a two million barrels of Venezuelan …

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Venezuelan Oil Riches Will Stay Mostly theoretical

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By Yawen Chen (Reuters Breakingviews) – The U.S. seizure of a sanctioned tanker has sharpened President Donald Trump’s standoff with Venezuela’s Nicolás Maduro. It does not, however, make the country’s 300 billion barrels of theoretical oil reserves – the world’s largest – any easier to turn into usable supply. Even if Washington’s pressure campaign leads …

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