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COMMENTARY: Canadian Federal Policies Continue to Block Oil Pipelines

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

By Tegan Hill and Elmira Aliakbari Prime Minister Carney’s recently released list of five projects—which the government deems to be in the national interest and will expedite—doesn’t include a new oil pipeline for western Canada in general or Alberta in particular. The reason given was that no private developer stepped forward to finance or build one. But …

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Eight International Oil Companies Reach Agreement With Iraq, KRG to Resume Oil Exports

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

(Reuters) – The eight international oil companies operating in Iraqi Kurdistan reached agreements in principle with Iraq’s federal and Kurdish regional governments to resume oil exports, according to an IOC statement seen by Reuters on Wednesday. The agreed framework, once signed and implemented, will allow exports to restart “in the coming days”, the statement said. …

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Guyana’s Oil Output Rose to 685,000 Barrels Per Day in August

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

(Reuters) – Guyana’s oil production increased to 685,000 barrels per day in August from 664,000 bpd the previous month, boosted by the start-up of the fourth floating output facility in the South American country, government data seen on Wednesday showed. A consortium led by U.S. energy major Exxon Mobil, which controls all oil and gas …

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Kremlin Says Exxon is not the Only Company Interested in Returning to Russia

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

Kremlin spokesman Dmitry Peskov, asked about the possible return of Exxon Mobil to Russia, said on Wednesday that the U.S. energy major was not the only company keen to return to the country. “Believe me, there is more than one corporation that is interested in reincarnating its presence on the Russian market,” Peskov told RBC …

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Exxon Signs Initial Agreement With Rosneft to Chart Possible Path to Recoup Russian Losses, Sources Say

CDN and International News, Latest / By

(Reuters) – U.S. oil major Exxon Mobil and Russian state-run energy giant Rosneft have signed a non-binding initial agreement to help Exxon recoup a $4.6 billion write-down it made on its activities in Russia in 2022 following Moscow’s invasion of Ukraine, according to two sources familiar with the talks. The agreement marks a tentative step …

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Ukraine Says it Hit Russian Oil Infrastructure in Bryansk, Samara Regions

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

(Reuters) – Ukraine’s military struck two Russian oil distribution facilities in the Bryansk and Samara regions overnight, Kyiv’s general staff said on Tuesday. In Samara, the military hit a line production station that mixes Russian oil for its flagship Urals oil grade for export, the general staff said on Telegram. In Bryansk, it hit a …

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Saudi Arabia Crude Exports Fall to Four-Month Low in July

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

(Reuters) – Saudi Arabia’s crude oil exports in July hit their lowest level in four months, according to data from the Joint Organizations Data Initiative (JODI) released on Monday. Crude exports from the world’s largest oil exporter fell to 5.994 million barrels per day, from 6.141 million bpd in June, its lowest level since March …

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OMV Chief Says Renewables Won’t Push Out Gas in EU Any Time Soon

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

By Jonathan Tirone Europe’s economy will continue to rely on imported natural gas for decades to come as the transition to solar and wind takes longer than forecast, according to energy company OMV AG. OMV expects gas to play a key role in power generation and industrial heating through at least 2050, Chief Executive Officer …

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Global Nuclear Projects Seen Slowing after Record 2024 Output

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

(Reuters) – A record level of global nuclear power production seen in 2024 will be hard to maintain in the coming years due to a lack of required investment, aging plants and project disruptions, the World Nuclear Industry Status Report said on Monday. Nuclear power has experienced a revival in interest from various countries trying to phase …

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Iraq Increases Oil Exports, Sees Extra Revenues, State Oil Marketer Says

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

Iraq has increased oil exports following the gradual unwinding of voluntary production cuts under an OPEC+ agreement, the country’s state oil marketer SOMO said on Sunday. Earlier this month, eight members of OPEC+ agreed to raise production from October by 137,000 barrels per day. OPEC+ has been increasing production since April after years of cuts …

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