Conventional Energy

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OPEC Says JMMC Does Not Hold Decision-Making Authority Over Production Levels

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

(Reuters) – The Organization of the Petroleum Exporting Countries (OPEC) said on Friday that the joint ministerial monitoring committee(JMMC), scheduled to convene on Monday, does not hold decision-making authority over production levels. OPEC added that claims linking the JMMC meeting to oil output changes or voluntary adjustments are ‘inaccurate and fall outside its mandate’. An …

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US Drillers Cut Oil and Gas Rigs for 12th Time in 13 Weeks, Baker Hughes Says

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

(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the 12th time in 13 weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by two to 542 in …

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Venezuela Oil Company PDVSA Readies Return to Work Under Previous US Terms

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(Reuters) – Venezuela’s state-run oil company PDVSA is getting ready to resume work at its joint ventures under terms similar to Biden-era licenses, once U.S. President Donald Trump reinstates authorizations for its partners to operate and export oil under swaps, company sources said. Washington is preparing new authorizations for key PDVSA partners, starting with U.S. …

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US Natgas Prices Steady As Near-Record Output Offsets Near-Record Heat

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(Reuters) – U.S. natural gas futures held steady on Friday as near-record output and lagging flows to liquefied natural gas export plants offset forecasts for near-record heat early next week. That heat should cause power generators to burn more gas to meet soaring air conditioning demand, which will likely stress regional power systems. Front-month gas …

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COMMENTARY: A Mid-Year Check-Up on Global Energy Transition Progress – Maguire

CDN and International News, Coal, Conventional Energy, Electricity Grid, Energy Topics & Technology, Hydro, Latest, Natural Gas, Nuclear, Oil, Renewable Energy, Solar, Wind / By

By Gavin Maguire LITTLETON, Colorado, July 24 (Reuters) – Global utilities generated a record amount of clean electricity while cutting output from fossil fuels during the opening half of 2025, thereby maintaining the momentum of international efforts to cut back on fossil fuel use in energy production. However, energy transition progress was more varied at …

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OPEC+ Panel Likely to Keep Oil Policy Steady on Monday, Sources Say

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By Ahmad Ghaddar, Alex Lawler and Olesya Astakhova LONDON/MOSCOW, July 24 (Reuters) – An OPEC+ panel is unlikely to alter existing plans to raise oil output when it meets on Monday, four OPEC+ delegates said, noting the producer group is keen to recover market share while summer demand is helping to absorb the extra barrels. …

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US Gulf Refiners Seek MidEast, S.American Oil to Offset Venezuela, Mexico Losses

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

(Reuters) – U.S. Gulf Coast refiners are snapping up higher volumes of Middle Eastern and South American crudes to offset the loss of Venezuelan and Mexican barrels, according to ship tracking data, a workaround solution that might be short-lived if the U.S. allows some sanctioned Venezuelan crude to return to the market. The shake-up in …

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Trump Unlikely to Enforce Tariff Threat on Russian Oil

Conventional Energy, Latest, Oil, US News / By

(Reuters) – U.S. President Donald Trump is unlikely to follow through on his threat to place 100% tariffs on countries that buy Russian oil because it would worsen politically-damaging inflation pressures and his similar threat against buyers of Venezuelan oil has had limited success, especially in China. Trump said this month he would put 100% …

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TotalEnergies Sees Tough Oil Market Outlook as Debts Mount

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Takeaways by Bloomberg AI TotalEnergies SE reported a 29% increase in net debt to $25.9 billion and a 23% decline in adjusted net income to $3.58 billion. The company said the oil market is being hurt by slower economic growth and an abundant supply, with Total’s Chief Executive Patrick Pouyanne citing an “unstable geopolitical and …

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Oil Gains as Trade Talk Optimism Offsets Potential Higher Venezuelan Supply

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

Summary Brent, WTI up 0.4% after 1% gain in previous session EU says trade deal with US within reach US prepares to allow limited oil operations in Venezuela, sources say Investors brace for data week next SINGAPORE, July 25 (Reuters) – Oil prices rose on Friday as trade talk optimism supported the outlook for both …

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