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Canada Awaits Private Sector Move on Pacific Crude Pipeline, Minister Says

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

By Amanda Stephenson Hodgson emphasizes private sector’s role in pipeline decision-making Pathways Alliance project crucial for pipeline approval Canada aims to diversify oil exports beyond U.S. reliance CALGARY, July 4 (Reuters) – Canada’s federal government has not been presented with any private sector proposal to build a new crude pipeline to the Pacific coast, the …

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OPEC+ Set to Make Another Accelerated Oil Output Hike on Saturday, Sources Say

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

(Reuters) – Eight OPEC+ countries are likely to make another accelerated oil output increase for August at a meeting on Saturday, sources from the producer group told Reuters, as they seek to regain market share. The group, which includes Saudi Arabia, Russia, the UAE, Kuwait, Oman, Iraq, Kazakhstan and Algeria, is expected to agree to …

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Saudi Aramco Considers Power Assets Sale to Raise Billions, Sources Say

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(Reuters) – Saudi oil giant Aramco is looking to sell up to five gas-fired power plants, three sources with knowledge of the matter told Reuters, part of a broader effort to free up funds that could generate tens of billions of dollars. The potential sale of four or five gas-fired plants that power refineries could …

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Germany Gives Go-Ahead for Gas Drilling in Protected Marine Zone

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

Germany’s cabinet has approved a bilateral agreement with the Netherlands to drill for natural gas at a protected marine site in the North Sea, aiming to bolster energy security. The project, led by Explorer One-Dyas BV, will extract up to 13 billion cubic meters of natural gas, equivalent to about 15% of Germany’s gas consumption …

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Canada LNG is the First Sign of a Global Gas Oversupply

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

A tidal wave of new production — the biggest yet — could transform the market for the fuel.. After years of tight supply and wild price swings in the global gas market, there are signs of something different: too much of a good thing. LNG Canada, the Shell Plc-led project in British Columbia, just exported its …

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Tensions Are Starting to Brew Over Waterways for US LNG Cargoes

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Venture Global Inc., a major US exporter of liquefied natural gas, is raising concerns about sharing a common waterway with a planned neighbor, highlighting a coming bottleneck for shipping space in the energy sector. The US is on track to nearly double its current LNG export capacity with six projects under construction in Texas and …

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Barclays Raises Brent Forecast to $72 Per Barrel for 2025

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

Barclays on Thursday said it raised its Brent oil price forecast by $6 to $72 per barrel for 2025 and by $10 to $70 a barrel for 2026 on an improved outlook for demand. “Geopolitical tensions have eased as the U.S​.-​mediated ceasefire between Israel and Iran continues to hold and the risk premium has evaporated, …

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OPEC+ Discusses 411,000-Barrel Hike in August, Delegates Say

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By Salma El Wardany, Grant Smith, and Fiona MacDonald OPEC+ has begun discussing another 411,000 barrel-a-day production increase for August ahead of the group’s video-conference this weekend, according to delegates who asked not to be identified. Saudi Arabia and its partners have previously approved hikes of the same size for May, June and July as …

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Is OPEC’s Supply Surge a Precautionary Move or a Market-Share Grab?

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

Crude shipments from key Middle East producers reached a two-year high in June. By Julian Lee Oil producers in the Middle East boosted crude shipments by 1 million barrels a day last month. But don’t worry: They say they’re not embarking on another free-for-all like the one we witnessed just before the Covid-19 pandemic crushed demand. The …

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TotalEnergies Sells Renewable Assets in Portugal, Buys Them in Dominican Republic

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

(Reuters) – TotalEnergies has sold 50% of its portfolio of renewable assets in Portugal and bought a half of AES’s renewable energy portfolio in the Dominican Republic, it said on Wednesday. The Portuguese assets were sold to a consortium composed of MM Capital Partners 2, Daiwa Energy & Infrastructure and Mizuho Leasing for 178.5 million …

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