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US Prepares to Allow Limited Oil Operations in Venezuela, Starting with Chevron,

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

Summary Companies US policy shift from pressure strategy on Venezuela’s oil sector Chevron’s and a handful of US licenses revoked this year Some PDVSA partners could be allowed to pay contractors, make imports and swaps Conditions aimed to deny profits to Maduro’s govt HOUSTON/WASHINGTON, July 24 (Reuters) – The United States is preparing to grant …

US Prepares to Allow Limited Oil Operations in Venezuela, Starting with Chevron, Read More »

Green Hydrogen Retreat Poses Threat to Emissions Targets

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

By Pietro Lombardi, Nina Chestney and Riham Alkousaa Shelved projects knock lofty ambitions for green hydrogen Subsidies alone are not enough to drive investment Prices remain uncompetitive compared with alternatives MADRID/LONDON/BERLIN, July 23 (Reuters) – Green hydrogen developers are cancelling projects and trimming investments around the world, raising the prospect of longer than targeted reliance …

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Venture Global Signs 20-Year Contract to Supply LNG to Italy’s Eni

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

By Francesca Landini MILAN, July 16 (Reuters) – Venture Global (VG.N) will supply 2 million metric tons a year of liquefied natural gas to Italian state-controlled energy group Eni (ENI.MI), the two companies said on Wednesday. The deal is Eni’s first long-term contract for LNG coming from the United States after Italian prime minister Giorgia …

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Germany’s Wind Power Expansion Picks Up, But Targets Still Missed, Says Lobby

CDN and International News, Latest, Renewable Energy, Wind / By

BERLIN, July 15 (Reuters) – Germany’s onshore wind power sector recorded its strongest half-year since 2017, but the expansion still falls short of the legally mandated targets, the BWE wind power lobby said on Tuesday. Berlin aims to source 80% of Germany’s electricity from renewable energy by 2030, a goal accelerated by recent reforms and …

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Soaring Saudi Exports and Trade Tensions Will Test Oil Price Resilience: Bousso

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

By Ron Bousso Oil demand growth slows sharply in second quarter Saudi oil exports set to surge to 7.5 mln bpd in July amid higher production Saudi power generation crude burn limits exports during summer LONDON, July 14 – Oil markets have remained remarkably resilient so far this year, despite concerns over U.S. President Donald …

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Serbia Seeks Fifth US Sanctions Waiver for Russian-Owned Oil Firm NIS, Minister Says

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

BELGRADE, July 14 (Reuters) – Talks between Belgrade and the United States over postponing sanctions against Russian-owned Serbian oil company NIS for a fifth time have been marred with difficulties, Serbian mining and energy minister Dubravka Djedovic Handanovic said on Monday. NIS (NIIS.BEL) has so far secured a fourth reprieve, which is due to expire …

Serbia Seeks Fifth US Sanctions Waiver for Russian-Owned Oil Firm NIS, Minister Says Read More »

Saudi Arabia Just Became OPEC’s Newest Cheater

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

The International Energy Agency says the kingdom exceeded its output quota by about 700,000 barrels a day. The most surprising part of the International Energy Agency’s latest monthly outlook isn’t its demand forecast, which remains pessimistic, but rather what it says about how much oil an OPEC+ stalwart pumped last month. Traditional production quota cheats …

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World Oil Market May be Tighter Than it Looks, IEA Says

CDN and International News, Conventional Energy, Latest, Oil, Tri-Pinned / By

World oil market may be tighter than it looks, IEA says IEA sees 2025 demand growth slowing to 700,000 bpd Raises 2025 supply forecast after OPEC+ hike Says price indicators suggest tighter physical market (Reuters) – The world oil market may be tighter than it appears despite a supply and demand balance pointing to a …

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OPEC Fortifies Outlier View That Oil Demand Will Grow to 2050

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

By Grant Smith OPEC reinforced its view — an outlier even within the petroleum industry — that global oil consumption will keep increasing to the middle of the century. Demand will grow by roughly 19% to reach almost 123 million barrels a day by 2050, the Organization of the Petroleum Exporting Countries said in a …

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OPEC Trims Oil Demand for Next Four Years, Says No Peak in Sight

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

Summary OPEC says peak demand is not in sight OPEC expects demand to grow for longer than other forecasters Demand growth is slowing in China (Reuters) – OPEC cut its global oil demand forecasts for the next four years on Thursday as Chinese growth slows, even as it lifted its longer-term view, based on rising …

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