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The energy watchdog says it’s possible global oil consumption could keep increasing through the middle of the century. By Grant Smith For several years, one of the world’s top oil forecasters seemed sure that demand growth would soon plateau. That certainty is fraying. On Wednesday, the International Energy Agency in Paris — founded in the …
The IEA Isn’t So Sure About Peak Oil Anymore: Energy Daily Read More »
By Elena Mazneva The global market could absorb a record wave of new supply of liquefied natural gas, but much depends on net zero policies and renewables growth, the International Energy Agency said. The IEA said it revised up overall gas demand in its World Energy Outlook published Wednesday, but “questions still linger about where …
IEA Says Questions Linger on Who Will Scoop Up New LNG Wave Read More »
CALGARY – Baytex Energy Corp. says it has signed a deal to sell its U.S. Eagle Ford assets to an undisclosed buyer for about $3.25 billion in a move to focus on its operations in Alberta and Saskatchewan. The company says the light oil Eagle Ford operations in Texas represent all of its U.S. business. Baytex chair …
World oil supply is expected to match demand next year in a reflection of the wider OPEC+ group’s production increases, an OPEC report showed on Wednesday, marking a further shift from its earlier projections of a supply deficit in 2026. OPEC+, which groups the Organization of the Petroleum Exporting Countries, Russia and other allies, has …
OPEC Sees Balanced Oil Market in 2026, Moves Further Away from Deficit Projection Read More »
Summary IEA’s current policies scenario shows no oil demand peak before 2050 LNG supply to grow 50% by 2030 US has criticized the IEA for clean energy focus IEA says target to limit temperature rise at 1.5C out of reach (Reuters) – Global oil and gas demand could grow until 2050, the International Energy Agency …
World Oil and Gas Demand Could Grow Until 2050, IEA Says Read More »
RIO DE JANEIRO, Nov 10 (Reuters) – Organized workers from Brazilian state-run oil firm Petrobras (PETR3.SA), opens new tab rejected a work agreement offered by the company and its subsidiaries, which prompted the approval of a “state of strike,” the workers’ union said in a statement on Monday. According to the union, the motion approved …
Brazilian Oil Firm Petrobras’ Workers Approve Potential Strike Read More »
(Reuters) – The volume of oil stored onboard ships in Asian waters doubled in recent weeks after tightening western sanctions hit imports from China and India and as a shortage of import quota curbed demand from independent Chinese refiners, analysts said. The European Union, United Kingdom and the United States have imposed a raft of …
Asia Oil Floating Storage Surges as Sanctions, Tight China Quota Curb Demand Read More »
(Reuters) – Japan, the world’s No.2 LNG importer, plans to buy liquefied natural gas for emergency reserves on a monthly basis from January, instead of buying only during peak demand periods, to guard against supply shocks, two industry ministry sources said. The reinforcement of the country’s Strategic Buffer LNG (SBL) program, run by the Ministry …
Nov 7 (Reuters) – Enbridge (ENB.TO) missed third-quarter profit estimates on Friday, pressured by higher financing costs from capital investments including U.S. gas utility acquisitions, sending its shares down nearly 2% in premarket trading. The Calgary-based pipeline operator had bought three Dominion Energy (D.N) utilities last year — East Ohio Gas, Questar Gas and Public …
Canada’s Enbridge Misses Third-Quarter Profit Estimates on Higher Capital Costs Read More »
Nov 7 (Reuters) – Abu Dhabi state oil firm ADNOC’s trading unit plans to increase the volume it handles by two-thirds over the next few years as part of its international expansion, Bloomberg News reported on Friday, citing its CEO. ADNOC has been stepping up its global expansion in recent years to find new revenue …
UAE’s Oil Trading Arm Plans Rapid Global Expansion, Bloomberg Reports Read More »
