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The anti-oil and gas policies of the Liberal-NDP government have driven investment away from Canada Summary • Canada sends 90% of oil exports to US refiners • Two east-west pipeline projects canceled in last decade • Overruns pushed Trans-Mountain expansion costs to C$34 bln (Reuters) – The Canadian government would have to play a significant …
By Grant Smith The International Energy Agency, the west’s energy watchdog, is considering reviving one of its long-term energy demand scenarios after criticism from US Republican leaders. The IEA’s decision in 2020 to exclude the so-called Current Policies Scenario from its reports prompted accusations that the agency was letting its commitment to net zero climate …
IEA Considers Reviving Dropped Energy Scenario After US Backlash Read More »
(Reuters) – Exxon Mobil’s Australian unit will invest nearly $200 million in the Kipper 1B gas project, alongside its partners Mitsu and Woodside Energy the U.S. oil major said on the company website on Monday. The Australian Competition & Consumer Commission has warned that the east coast could face a gas supply shortage from 2027, …
Exxon’s Australian Unit, Partners to Invest Nearly $200 million in Gas Project Read More »
Summary • BP under pressure to boost returns from Elliott Investment Management • Changes to be announced on capital markets day investor update • BP’s shares have underperformed rivals Feb 24 (Reuters) – BP’s chief executive will scrap a target to increase renewable generation 20-fold by 2030, returning the focus to fossil fuels, as part …
BP to Ditch Renewables Goals and Return Focus to Fossil Fuels Read More »
(Reuters) – OPEC and its allies face a tricky dilemma: should they start loosening oil production caps even though the crude supply and demand picture is unlikely to improve in the near future? They may well opt to again delay the crucial moment to keep prices steady, but they increasingly risk losing control of the …
OPEC+Rrisks Losing Control With More Output Delays Read More »
U.S. President Donald Trump’s administration is piling pressure on Iraq to allow Kurdish oil exports to restart or face sanctions alongside Iran, eight sources with direct knowledge of the matter told Reuters. An advisor to the Iraqi prime minister denied in a statement there had been a threat of sanctions or pressure on the government …
U.S. Piles Pressure on Iraq to Resume Kurdish Oil Exports, Sources Say Read More »
Guyana has previously been more focused on oil production Fertilizer, alumina, data centers all potential uses of gas By Denis Chabrol Exxon Mobil Corp. outlined plans to increase natural gas production from oil-focused Guyana and is considering options to export the fuel to global markets, country manager Alistair Routledge said Wednesday. Exxon’s developments off the …
Exxon Plans to Ramp Up Guyana Gas Output, Sees Potential for Exports Read More »
Cenovus Energy’s Q4 profit falls due to lower prices, weak refining margins Cenovus’ U.S. refining revenues drop amid required turnaround work Canadian energy sector faces uncertainty with U.S. tariffs on imports Feb 20 (Reuters) – Canadian oil and gas producer Cenovus Energy (CVE.TO) anticipates a return this spring to more normal market conditions in the …
Canada’s Cenovus Energy Profit Falls on Refining Weakness, Lower Oil Prices Read More »
Japan Petroleum Exploration (Japex) is prioritising investment in oil and gas exploration and production (E&P) through 2030 – revising an earlier plan to aggressively expand its renewables businesses, its president said. “For now, the investment focus will remain on oil and gas exploration and production… as securing a fair return from renewable energy sources such …
In a Major Shift, Japex to Prioritise Oil and Gas Investment Through 2030 Read More »
ANKARA, Feb 19 (Reuters) – Turkey has yet to receive confirmation from Iraq on the resumption of oil flows through the Iraq-Turkey pipeline, Turkish Energy Minister Alparslan Bayraktar told Reuters on Wednesday. Iraq’s oil minister said on Monday that oil exports from the semi-autonomous Kurdistan region will resume next week, resolving a near two-year dispute …
Turkey Says ‘Nothing Yet’ on Iraq Oil Pipeline Restart Read More »
