Conventional Energy

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Saudi Aramco Seeks Investors in Jafurah Infrastructure Assets, Sources Say

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

(Reuters) – Saudi oil giant Aramco is seeking investors in infrastructure, including pipelines, for its $100 billion Jafurah gas project, two people familiar with the matter told Reuters. The Jafurah project is key to Saudi Aramco’s ambitions to become a major global player in natural gas and to boost its gas production capacity by 60% …

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EU Eyes Nord Stream 2 Sanctions to Stamp Out Russian Gas Return

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

By Ewa Krukowska, Alberto Nardelli, and Anna Shiryaevskaya A gas receiving compressor station for the Nord Stream 2 pipeline in Lubmin, Germany. Photographer: Krisztian Bocsi/Bloomberg The European Union is nearing a decision to include the Nord Stream 2 gas pipelines linking Germany and Russia in a fresh proposal of sanctions against Moscow amid persistent rumors …

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Shell Expects More LNG exporters to Turn into Net Importers, Drive Demand

Conventional Energy, Latest, LNG, US News / By

Energy major Shell expects several traditional LNG exporter nations to turn into net importers, driving demand for the super chilled fuel and potentially easing concerns that the industry faces oversupply from a raft of planned new projects. Cederic Cremers, Shell’s executive vice president for LNG, told Reuters that Indonesia, Malaysia, and Algeria are likely to …

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US Invites Asian Officials to Alaska, Eyes $44 Billion LNG Project

Conventional Energy, Latest, LNG, Natural Gas, US News / By

Summary Energy, Interior secretaries to host June 2 event in Alaska Officials from Taiwan, South Korea, Japan invited Trump pushing allies to invest in long-delayed project (Reuters) – The U.S. has invited officials from Japan, South Korea and Taiwan to Alaska to discuss projects including a vast gas pipeline, two people familiar with the planning …

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Oil Heads for First Weekly Loss Since April on OPEC+ Supply Hike Expectations

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary Brent, WTI down 2% on the week Market braces for another OPEC+ output hike in July Iranian nuclear deal talks in focus, fifth round on Friday (Reuters) – Oil prices dropped for a fourth consecutive session on Friday and were set for their first weekly decline in three weeks, weighed down by rising expectations …

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Venture Global on Track to Become Top US LNG Company if CP2 Project Approved

Conventional Energy, Latest, LNG, Tri-Pinned, US News / By

Summary Venture Global could top Cheniere to become largest US LNG company Producing at higher rates than initially expected Plans to sell additional volumes on long-term contracts (Reuters) – Venture Global is poised to become the largest U.S. liquefied natural gas company by next year if it proceeds with its CP2 project in Louisiana and …

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US Crude Oil Storage Demand Surges as Traders Brace for OPEC+ Price War

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil, Tri-Pinned, US News / By

 U.S. crude oil storage demand has surged in recent weeks to levels similar to the COVID-19 pandemic, according to data from storage broker The Tank Tiger, as traders brace for a flood of increased supply in coming months from the Organization of the Petroleum Exporting Countries and its allies. This month, OPEC+ agreed to accelerate …

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US ‘Not Convinced’ About Lowering G7 Oil Price Cap, European Official Says

Conventional Energy, Latest, Oil, US News / By

(Reuters) – A European official said the United States was “not convinced” about lowering the Group of Seven nations (G7) price cap on Russian crude oil. The EU proposed revising the cap down to an indicative level of $50 a barrel from the current $60 a barrel. During the G7 finance ministers meeting, the official …

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Italy Fully Supports EU Efforts to Stop Russian Gas Imports by 2027

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

(Reuters) – Italy fully supports European Union efforts to stop Russian gas imports into the bloc by 2027, the country’s energy minister told reporters on Thursday, adding any decisions by Rome to boost LNG imports from the U.S. were up to private buyers. Italy last year imported a small quantity of Russian gas which was …

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The Biggest US Oil Field Is at Risk of Poisonous Water Leaks, Texas Warns

Conventional Energy, Energy Topics & Technology, Fracking, Latest, Oil, US News / By

Wastewater disposal in the Permian Basin is boosting pressure underground, threatening to hinder oil production By Kevin Crowley and David Wethe Produced water gushes out of the ground a geyser in Toyah, Texas, on Wednesday, Oct. 2, 2024 in Toyah, Texas. Photographer: Elizabeth Conley/Houston Chronicle/ Getty Images Texas regulators are warning that wastewater from fracking …

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