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Weak Rouble, Higher Oil May Help Russia if Trump’s Tariffs Hit, Analysts Say

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

Russian markets reacted cautiously to U.S. President Donald Trump’s threat to impose new sanctions, with analysts saying on Wednesday a weaker rouble and higher oil prices as a result of his measures may support the economy in the short term. Trump said on Tuesday the United States would start imposing tariffs and other measures on …

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Shell-Led LNG Canada Faces Problems as it Ramps up Production, Sources Say

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

Summary First major LNG export facility in Canada faces startup challenges Western Canadian gas prices remain low despite LNG Canada startup LNG Canada expects export pace to increase after initial break-in period (Reuters) – Shell-led  LNG Canada is experiencing technical problems as it ramps up production at its liquefied natural gas plant at Kitimat, with one …

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Mexico Exports 39% Less Crude Oil in June, Lowest Level in Decades

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

By Ana Isabel Martinez MEXICO CITY, July 29 (Reuters) – Mexican state company Pemex exported 39% less crude oil year-over-year in June, reaching the lowest level in decades, official data showed, as processing at local refineries and fuel production increased significantly. It exported 458,103 barrels per day (bpd) in June, compared to 753,539 bpd in …

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China Could See High Tariffs if it Continues to Buy Russian Oil, Says Bessent

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

(Reuters) – U.S. Treasury Secretary Scott Bessent said on Tuesday he had told Chinese officials that, given U.S. secondary tariff legislation on sanctioned Russian oil, China could face high tariffs if Beijing continued with its Russian oil purchases. Bessent was speaking after two days of bilateral talks between the world’s two largest economies in Stockholm. …

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EU’s $750 Billion Energy Deal With Trump Looks Hard to Reach

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By John Ainger, Anna Shiryaevskaya, and Julian Lee The European Union’s promise to buy $750 billion of American energy imports over three years was pivotal to securing a trade deal with President Donald Trump, but it’s a pledge it will struggle to keep. The deal would require annual purchases of $250 billion of natural gas, …

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Angry France Slams US Trade Pact ‘Submission’ as EU Peers Breathe Sigh of Relief

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(Reuters) – France denounced the trade agreement between the European Union and the U.S. as a “submission” on Monday though other EU states largely backed a deal they acknowledged was lopsided but which averts an economically damaging trade war with Washington. The framework deal, announced on Sunday between two economies accounting for almost a third …

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Trump Says He is Reducing 50 Day Deadline for Russia on War in Ukraine

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(Reuters) – U.S. President Donald Trump said on Monday he was reducing the 50-day deadline he gave Russia over its war in Ukraine, underscoring his frustration with Russian President Vladimir Putin for prolonging fighting between the two countries. “I’m disappointed in President Putin,” Trump said, speaking alongside British Prime Minister Keir Starmer ahead of their …

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OPEC Says JMMC Does Not Hold Decision-Making Authority Over Production Levels

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

(Reuters) – The Organization of the Petroleum Exporting Countries (OPEC) said on Friday that the joint ministerial monitoring committee(JMMC), scheduled to convene on Monday, does not hold decision-making authority over production levels. OPEC added that claims linking the JMMC meeting to oil output changes or voluntary adjustments are ‘inaccurate and fall outside its mandate’. An …

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Venezuela Oil Company PDVSA Readies Return to Work Under Previous US Terms

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

(Reuters) – Venezuela’s state-run oil company PDVSA is getting ready to resume work at its joint ventures under terms similar to Biden-era licenses, once U.S. President Donald Trump reinstates authorizations for its partners to operate and export oil under swaps, company sources said. Washington is preparing new authorizations for key PDVSA partners, starting with U.S. …

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