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Russia to Increase LNG Exports to China From Arctic and Sakhalin, Energy Minister Says

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

(Reuters) – Russia plans to increase LNG exports to China from the Arctic LNG 2 and Sakhalin 2 projects, and “serious joint progress” is underway, Russian Energy Minister Sergei Tsivilev told the Expert magazine. Despite Western sanctions, Arctic LNG 2, which is 60% owned by Russia’s Novatek, has been sending out LNG since last year, …

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Shell Starts Production From Victory Gas Field in North Sea

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

By Stephanie Kelly LONDON, Sept 30 (Reuters) – Shell (SHEL.L) has started production from its Victory gas field in the North Sea, which at peak production can heat almost 900,000 homes per year, it said on Tuesday. At full capacity, the gas field can produce about 150 million standard cubic feet per day of gas, …

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OPEC+ to Consider Bigger Increase to Oil Output, Sources Say

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

(Reuters) – OPEC+ is likely to consider a larger oil production increase of 411,000 barrels per day for November at its meeting next Sunday as rising oil prices encourage the group to try to regain more market share, said two sources familiar with the talks. OPEC+ has reversed its earlier strategy of output cuts and …

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Oil Price Outlook Steady as Rising Supply Offset by Concerns Over Russian Output

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

Summary Geopolitical risks unlikely to cause sustained price rally OPEC+ and non-OPEC+ production growth seen deepening supply glut For table of crude price forecasts, click (Reuters) – Oil prices are expected to hold almost steady this year despite mounting supply from both OPEC+ and non-OPEC producers, with concerns about a potential glut tempered by uncertainty …

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Total Sees Limited Oil Supply Growth Outside OPEC+ After 2026

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

By Alex Longley TotalEnergies SE said it sees limited growth in oil production outside the OPEC+ alliance after next year, while global consumption will continue to climb to the end of the decade. Global spare output capacity is set to shrink from 2027 as lower oil prices curb investments, the French energy giant said in …

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Natural Gas Goes Negative in Canada After LNG Plant Issues

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

By Robert Tuttle An LNG carrier is loaded at the LNG Canada docks in Kitimat, British Columbia on July 14. Photographer: James MacDonald/Bloomberg Canada’s benchmark gas price has tumbled to a record low as production hiccups at the country’s first LNG export plant on the British Columbia coast contributed to a surplus of supply. The …

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TotalEnergies CEO Says He’d Be Surprised If All Approved US LNG Projects Will Be Built

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

(Reuters) – TotalEnergies CEO Patrick Pouyanne said on Monday he would be surprised if all U.S. LNG projects that have received regulatory approval will be built, citing the difficulty of finding willing long-term buyers and financing. Pouyanne has previously warned that the United States is building too many liquefied natural gas plants, warning it could …

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OPEC+ Plans Another Oil Output Hike in November, Sources Say

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Summary Increase to amount to at least 137,000 bpd, sources say Ukrainian drones attacks cut Russian oil refining, exports Oil trades at multi-week high above $70 a barrel (Reuters) – OPEC+ will likely approve another oil production increase of at least 137,000 barrels per day at its meeting next Sunday, as rising oil prices encourage …

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Total Pressured on Payouts, Green Strategy After Debts Double

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

Takeaways by Bloomberg AI TotalEnergies SE is under pressure to show it can sustain payouts and deliver returns from its push into low-carbon energy as debt climbs and shares lag behind peers. The company has cut its quarterly stock repurchase program to $1.5 billion from $2 billion and warned it could fall as low as $750 …

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Why the Iraq-Turkey Oil Pipeline Was Halted for 2-1/2 Years

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

Crude oil flows from Iraq’s northern Kurdistan region to Turkey resumed on Saturday for the first time in two and a half years. Here are details about the dispute that halted the piped supply of some 450,000 barrels per day (bpd) in March 2023: WHAT PROMPTED THE SHUTDOWN? Turkey shut the pipeline following an International …

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