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International Energy Agency (IEA) Statistics: Monthly Oil Statistics – Including up to September 2024

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

The latest IEA’s Monthly Oil Statistics report including September 2024 data shows that for Total OECD: Total OECD production of crude oil, NGL and refinery feedstocks increased by 0.5 % in September 2024 compared to September 2023. Refinery gross output of total products decreased by 1.6% on a year-on-year basis. Net deliveries of total products decreased 1.3% in September 2024 compared to September 2023. Oil stock levels …

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International Energy Agency (IEA) Statistics: Monthly Gas Statistics – Including up to September 2024

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

The latest IEA’s Monthly Gas Statistics report including September 2024 data shows that for Total OECD:                                                        Production of natural gas decreased by 1.8% compared to September 2023. Imports (entries)1 of natural gas were 2.7% higher on a year-on-year basis, and total OECD exports (exits)1 increased by 6.8% in the same period. Gross consumption of natural gas increased by 0.3% in September 2024 on a year-on year basis. …

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Canadian Premiers Urge Strong Response to Trump Tariff Threat Including Cutting Off Energy Exports

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

Some Canadian premiers are urging Ottawa to respond robustly to the threat of tariffs from incoming U.S. President Donald Trump and have highlighted critical minerals and metals as products that the U.S. relies on, Canada’s Finance Minister said on Wednesday. Canadian Prime Minister Justin Trudeau and other government ministers met with provincial premiers to discuss …

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OPEC Gives Haitham Al-Ghais Second Term as Secretary-General

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

Kuwaiti’s tenure as OPEC’s top official extended to mid-2028 OPEC+ delayed output restart last week to defend oil prices OPEC appointed Haitham Al-Ghais for a second three-year term as its secretary-general, extending his tenure until mid-2028. The Kuwaiti oil executive has been the top official at the Organization of Petroleum Exporting Countries since mid-2022. OPEC and its allies agreed …

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LNG Seeks a Future Under Mounting Climate Pressure

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

Bloomberg News Police vans cordoned off Berlin’s Adlon Kempinski hotel Tuesday as environmental protesters attempted to disrupt an energy conference, splashing green paint against the side entrance of the luxury venue by the Brandenburg Gate. Inside, the global liquefied natural gas industry gathered to debate its future. Having largely turned the page on energy price …

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OPEC Makes Deepest Cut Yet to 2024 World Oil Demand Forecast

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

Group makes fifth reduction to estimate amid signs of weakness Alliance agreed last week to delay, slow revival in its output OPEC cut oil demand growth forecasts for this year and next for a fifth straight month, making its deepest reduction to the 2024 outlook so far after agreeing to extend its supply curbs. The Organization …

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U.S. Weighs New Russia Oil Sanctions to Weaken Putin Ahead of Trump, Bloomberg News Report

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

The U.S. government is weighing new, harsher sanctions against Russia’s lucrative oil trade, seeking to tighten the squeeze on the Kremlin’s war machine just weeks before Donald Trump returns to the White House, Bloomberg News reported on Tuesday. The details of the new measures are not yet finalized but President Joe Biden’s team was considering …

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BP Cuts Offshore Wind Spending Plans in Tie-Up With Jera

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

Companies to invest up to $5.8 billion on entity through 2030 Offshore wind has struggled as costs soared in recent years BP Plc and Jera Co., Japan’s biggest electricity producer, will merge their offshore wind businesses as the British oil major seeks to cut its exposure to the troubled green power sector. The new company — JERA …

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Equinor Completes Nigeria, Azerbaijan Asset Sales of Up to $2 billion

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Equinor has closed the planned sale of its assets in Nigeria and Azerbaijan for a total consideration of up to $2 billion, completing exits from the two countries after some 30 years, the Norwegian oil and gas firm said on Monday. The divestments, first announced in 2023 and completed in recent weeks, will boost cash …

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Canada’s Oilpatch Has US$24 Billion Shield Against Trump Tariffs

CDN and International News, Latest, Oil / By

The federal government’s bet on the Trans Mountain pipeline expansion may pay off sooner than expected Bloomberg News The expansion of Canada’s Trans Mountain pipeline represented a US$24 billion bid to help the country’s oil producers reduce their near-total reliance on the United States market. That’s a bet that may pay off sooner than expected if President-elect Donald …

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