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By Anthony Di Paola The United Arab Emirates’s state oil giant is evaluating options for a potential entry into Venezuela’s energy industry as the Middle Eastern country seeks to build out its international natural gas business, according to people with knowledge of the situation. Abu Dhabi National Oil Co. is watching developments in Venezuela, with …
Abu Dhabi’s Adnoc Is Said to Evaluate Investing in Venezuela Gas Read More »
Blackrod SAGD goes full-scale after 15 years of pilot testing By Deborah Jaremko Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The Blackrod SAGD project. Photo courtesy International Petroleum Corporation For the first time in nearly eight years, a brand-new oil sands project is operating in Alberta. It’s …
Rare Brand-New Oil Sands Project Starts Operating in Alberta Read More »
BP expects to book $4 billion to $5 billion in impairments in the fourth quarter, mainly related to its energy transition businesses, it said on Wednesday, while flagging weak oil trading. The company is rerouting spending from lower-carbon businesses to oil and gas in a bid to improve profitability under the new leadership of Chair …
BP Flags up to $5 Billion in Energy Transition Impairments, Weak Oil Trading Read More »
Summary Only 3 shipments passed US blockade since mid-December Venezuelan oil in transit to Asia near 43 million barrels – Kpler Venezuelan oil discharges into China hit record in November – Vortexa China made up 75% of Venezuelan oil export in 2025 – PDVSA (Reuters) – China’s oil imports from Venezuela are expected to slump …
Venezuelan Oil Exports to China Set to Drop as US Blockade Limits cargoes Read More »
(Reuters) – The discount on U.S. crude futures to the global benchmark Brent has grown by around $1 per barrel since the U.S. ousted Venezuelan President Nicolas Maduro on January 3 and took control of the South American country’s oil flows, redirecting millions of those barrels to U.S. ports in a move likely to boost …
(Reuters) – Cubans are bracing for impact after U.S. President Donald Trump vowed to cut off a lifeline of Venezuelan oil from reaching Cuba, setting up a siege scenario for an island already reeling from crippling blackouts and shortages. Venezuela, once the island’s top supplier, has not sent crude or fuel to Cuba for about …
Clock Ticks in Cuba as Trump cuts Off Venezuelan Oil Read More »
Summary Trump claims control over Venezuela’s oil reserves Roszarubezhneft took over Rosneft’s Venezuelan holdings in 2020 Roszarubezhneft says it will continue working in Venezuela (Reuters) – Oil assets that Russia develops in Venezuela belong to Russia, which will continue working there, Moscow said on Tuesday, after U.S. President Donald Trump’s claims of control over the …
Russia Counters Trump’s Assertion Over Oil in Venezuela Read More »
(Reuters) – Iran has a record amount of oil on the water, equivalent to about 50 days of output, with China having bought less because of sanctions and Tehran seeking to protect its supplies from the risk of U.S. strikes, data from Kpler and Vortexa shows. The amount of Iranian crude and condensate, either on …
Oil prices are likely to drift lower this year as a wave of supply creates a market surplus, although geopolitical risks tied to Russia, Venezuela and Iran will continue to drive volatility, Goldman Sachs said in a note on Sunday. The investment bank maintained its 2026 average price forecasts of $56/$52 per barrel for Brent/WTI, …
Goldman Projects Lower Oil prices in 2026 as Supply Swells Read More »
(Reuters) – Norway’s government said on Monday it will present a policy document to parliament next year on the future of the oil and gas industry, including companies’ access to exploration acreage. “The oil and gas industry is crucially important for Norway, and should be developed, not phased out,” Prime Minister Jonas Gahr Stoere said …
Norway to Lay Out Future of Oil and Gas, Drilling, in 2027 Policy Update Read More »
