Conventional Energy

Auto Added by WPeMatico

Cenovus Selling Stake in WRB Refining to Joint Venture Partner Phillips 66 for $1.9B

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

Cenovus Energy Inc. has signed a deal to sell its 50 per cent stake in WRB Refining LP to its joint venture partner Phillips 66 for about $1.9 billion. The WRB joint venture includes the Wood River Refinery in Illinois and the Borger Refinery in Texas. The operations have combined crude throughput capacity of 495,000 …

Cenovus Selling Stake in WRB Refining to Joint Venture Partner Phillips 66 for $1.9B Read More »

Ukrainian Strikes on Russian Oil Facilities Could be a Boon for US Refiners

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

Ron Bousso (Reuters) – The recent wave of Ukrainian drone attacks on Russian oil refineries and export facilities could boost global refining profit margins – particularly those in the U.S. – just as the peak summer demand season fades. Ukrainian attacks have shut down facilities accounting for at least 17% of Russia’s oil processing capacity, …

Ukrainian Strikes on Russian Oil Facilities Could be a Boon for US Refiners Read More »

Oil Rises on Modest OPEC+ Output Hike, Russia Supply Concern

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

Summary Brent and U.S. crude rise about 1% Threat of tighter sanctions on Russian oil also underpins market China to carry on stockpiling oil in 2026, Gunvor official says (Reuters) – Oil extended gains on Tuesday, supported by the latest oil output hike from OPEC+ being smaller than anticipated, expectations that China will continue stockpiling …

Oil Rises on Modest OPEC+ Output Hike, Russia Supply Concern Read More »

Crude Oil Sentiment Swings to Lower Prices as Bearish Factors Mount

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

(Reuters) – Sentiment in the crude oil market has shifted to expecting prices to decline, with the debate at the industry’s biggest gathering in Asia more about timing than direction. The topic of presentations and conversations at the annual APPEC conference is always dominated by the outlook for prices, and this week’s event was no …

Crude Oil Sentiment Swings to Lower Prices as Bearish Factors Mount Read More »

Cuts to US Oil Jobs and Spending Threaten Output Growth

Conventional Energy, Drilling Rigs, Energy Topics & Technology, Exploration & Production, Latest, Natural Gas, OFS-Oilfield Services, Oil, Pinned Primary, US News / By

Summary Oil and gas producers cut $2 bln in expenditure, Reuters analysis shows US oil rig counts have fallen by 69 this year Trump’s trade policies and tariffs push up material costs HOUSTON, Sept 8 (Reuters) – The U.S. oil industry has laid off thousands of workers and cut billions in spending due to lower …

Cuts to US Oil Jobs and Spending Threaten Output Growth Read More »

Barclays Cuts 2026 Brent Forecast on OPEC+ Supply Increase Expectations

Conventional Energy, Latest, Oil, US News / By

(Reuters) – Barclays on Monday lowered its Brent crude oil price forecast for 2026 by $4 to $66 a barrel, citing expectations that OPEC+ will fully unwind voluntary production cuts by September next year. The bank said OPEC+’s weekend decision to raise October production targets by 137,000 barrels per day (bpd) was “the group initiating …

Barclays Cuts 2026 Brent Forecast on OPEC+ Supply Increase Expectations Read More »

Oil Set to Fall Below $60 Into Next Year, FGE’s Fesharaki Says

Conventional Energy, Latest, Oil, US News / By

By Haslinda Amin The decision by OPEC+ to once again raise production may have been more modest than expected, but oil prices could still tumble below $60 a barrel into the end of the year and the start of 2026, FGE NexantECA Chairman Emeritus Fereidun Fesharaki said on Bloomberg Television. The Organization of the Petroleum …

Oil Set to Fall Below $60 Into Next Year, FGE’s Fesharaki Says Read More »

China Is Cranking Up Its LNG Trade With Russia in Test For Trump

Conventional Energy, Latest, LNG, US News / By

By Stephen Stapczynski China appears to be setting up a system to import regular cargoes of liquefied natural gas from a Russian project sanctioned by the US, a move that will test the Trump administration’s willingness to penalize Beijing in its efforts to curb Moscow’s energy revenue. Having taken the first-ever overseas export from the …

China Is Cranking Up Its LNG Trade With Russia in Test For Trump Read More »

Global LNG Market Faces Looming Supply Glut After Years of Scarcity

Conventional Energy, Latest, LNG, US News / By

By Anna Shiryaevskaya, Ruth Liao, and Stephen Stapczynski The global market for liquefied natural gas faces a multiyear supply glut starting in 2026, potentially pushing prices for the crucial fuel to the lowest since the energy crisis triggered by Russia’s full-scale invasion of Ukraine. After four years of tight markets, the International Energy Agency expects …

Global LNG Market Faces Looming Supply Glut After Years of Scarcity Read More »

China Oil Demand to Peak in 2027, up 100,000 Bpd This Year, State researcher says

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

China’s total oil demand including all products is set to peak in 2027, with a rise of about 100,000 barrels per day this year driven by increased volumes from the petrochemicals sector, a state oil researcher said on Monday. Surging usage of electric vehicles in China, the world’s biggest oil importer, is eroding fuel demand, …

China Oil Demand to Peak in 2027, up 100,000 Bpd This Year, State researcher says Read More »

Subscribe
Subscribe