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Shell Says Weak Oil and Gas Trade Hit Second-Quarter Profit

CDN and International News, Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Natural Gas, Oil / By

Shell Plc expects second-quarter results to be negatively impacted by a weaker performance from its oil and gas trading operation, with earnings from the division expected to be “significantly lower” quarter-on-quarter. The company’s shares declined to a four-week low following the announcement, with European peers BP Plc and TotalEnergies SE also falling. Shell’s trading update …

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OPEC+ Set to Complete Big Oil Output Cut Unwinding in Sept, Sources Say

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

Summary OPEC+ to agree another 550,000 bpd hike for Sept -sources OPEC+ to complete unwinding of 2.17 mln bpd cut UAE to complete output boost in line with new quota Output jump since April set to be 2.47 mln bpd or 2.5% of global demand (Reuters) – OPEC+ oil producers are set to approve another …

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Petronas Ships its first LNG Cargo to Japan from its New Facility in Canada

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

By Reuters (Reuters) – Malaysia’s state energy firm Petronas on Monday said it has successfully shipped its first liquefied natural gas (LNG) cargo to Japan from its newly operational LNG facility in Kitimat, Canada. Petronas has a 25% stake in the Kitimat LNG plant in British Columbia on Canada’s west coast. The shipment departed for Japan …

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Canadian Prime Minister Mark Carney Says New Oil Pipeline Proposal in Canada is Highly Likely

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

(Reuters) – A new oil pipeline to the British Columbia coast is highly likely to be included on a list of projects deemed to be of national importance to the Canadian government, Prime Minister Mark Carney told the Calgary Herald newspaper in an interview published on Sunday. “I would think given the scale of the …

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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

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

(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

CDN and International News, Latest, LNG, Tri-Pinned / By

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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