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Oil production in the Permian basin is poised to peak in December, a watershed moment for the U.S. shale boom that upended the global energy market over the past 15 years. Yet drilling innovations mean output in America’s most prolific oil patch will hold steady for years to come. The Permian basin, which straddles West …
Permian to Retain US Oil Crown Even After Hitting Peak Read More »
(Reuters) – Oil buyers in Asia are demanding deep discounts on Venezuelan crude due to a flood of sanctioned oil from Russia and Iran on offer and to heightened risk of loading in the South American country as the U.S. boosts its military presence in the Caribbean, traders and other sources said. Venezuela has managed …
Venezuela Forced to Double Discount on Oil to Asia Due to Flood of Sanctioned Crude Read More »
(Reuters) – BP, Chevron and Shell were among the top bidders on Wednesday at the U.S. government’s first sale of oil and gas drilling rights in the Gulf of Mexico since 2023. The auction, which ended with $279.4 million in high bids, was the first of 30 mandated by U.S. President Donald Trump’s tax cut …
BP, Chevron Are Top Bidders at First Trump Gulf of Mexico Oil and Gas Auction Read More »
(Reuters) – U.S. pipeline operator Energy Transfer has secured enough agreements to sell liquefied natural gas to make a final investment decision on its Lake Charles LNG project early next year, an executive said on Wednesday at the Reuters Energy Live conference in Houston. Energy Transfer has been developing the LNG export facility in Louisiana, …
Energy Transfer Says Lake Charles LNG Investment Nod Expected in Early 2026 Read More »
(Reuters) – U.S. sanctions against Russian oil majors Lukoil and Rosneft could trigger a structural reshaping of the global oil sector over the next year, reversing Moscow’s decades-long efforts to expand its international clout through energy investment. When President Donald Trump in October slapped sanctions on Rosneft and Lukoil, which together account directly or indirectly …
Trump Sanctions on Lukoil, Rosneft Could Reshuffle Global Oil Map: Vladimirov Read More »
(Reuters) – Venture Global submitted its response late on Tuesday to a legal challenge from Shell over the oil major’s defeat in an arbitration case concerning liquefied natural gas cargoes, rejecting allegations of fraud and accusing Shell of breaching arbitration confidentiality. The legal documents submitted in New York Supreme Court mark the latest development in …
Venture Global Hits Back at Shell’s Fraud Claims in LNG Arbitration Battle Read More »
Ron Bousso (Reuters) – Venezuela is likely to retain its seat in OPEC even if U.S. President Donald Trump successfully forces a change of government in the oil-rich country, as the U.S. is seeking to bolster its alliance with the cartel even as it expands its own sphere of influence. The U.S. has recently been increasing pressure on Venezuelan …
Trump Won’t Turn Venezuela’s OPEC Membership into a Battleground Read More »
By Reuters (Reuters) – The Trump administration will hold the government’s first sale of oil and gas drilling rights in the Gulf of Mexico since 2023 on Wednesday, a key test of industry appetite for offshore acreage at a time when the United States is seeking to unleash more domestic fossil fuel production. The auction is the first …
US Holds First Gulf of Mexico Oil and Gas Auction Since 2023 Read More »
Summary Market seeks cues from peace talks and Fed rate decision Fed expected to cut interest rates by 25 bps on Wednesday Russian oil supply risks offset oversupply concerns (Reuters) – Oil prices steadied on Wednesday as investors watched for progress in Russia-Ukraine peace talks and awaited a decision on U.S. interest rates. After declines …
Oil Steadies Ahead of Ukraine Peace Talks and Fed Interest Rate Decision Read More »
By Souhail Karam Illustration of Nador West Med port in Morocco. Source: Marsa Maroc Morocco is getting closer to creating an almost $1 billion liquefied natural gas hub at a new deep-sea port on its Mediterranean coast, as it plans to boost imports to curb the use of dirtier fuels. The nation this week issued …
Morocco Gets Closer to Creating $1 Billion LNG Import Hub Read More »
