Conventional Energy

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Visual Capitalist: Visualizing the Countries With the Largest Proven Oil Reserves

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

By Dorothy Neufeld | Graphics/Design by Sabrina Lam Visualizing the Countries With the Largest Proven Oil Reserves This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources. Key Takeaways With 303 billion barrels in proven oil reserves, Venezuela leads globally. Saudi Aramco …

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OPEC+ Set to Make Another Accelerated Oil Output Hike for August, Sources Say

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(Reuters) – The world’s largest group of oil producers, OPEC+, is set to announce another big increase of 411,000 barrels per day in production for August as it looks to regain market share, four delegates from the group told Reuters. If the increase is agreed, it would bring the total rise in supply from OPEC+ …

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Canada Approves Law to Fast-Track Resource Projects, Faces Indigenous Opposition

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Canada’s Senate passed a bill to fast-track approval for natural resource and infrastructure projects on Thursday despite opposition from Indigenous and environmental groups who have threatened protests and legal action. The bill’s passage and implementation are a test for Carney, who was elected in April promising to transform Canada’s economy in the face of what …

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Tokyo Gas in Talks to Seal Long-Term US LNG Purchase Deals

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By Ruth Liao and Stephen Stapczynski Tokyo Gas Co. is in discussions with multiple US liquefied natural gas suppliers to secure a long-term purchase agreement, as rising energy demand leaves Japan increasingly dependent on the fuel source. Japan’s largest gas distributor is in talks with at least four companies over supply from projects dotting the …

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Governor Announces First Texas Energy Fund Loan for 122 MW Natural Gas Facility

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June 26 (Reuters) – Texas Governor Greg Abbott announced on Thursday that the first Texas Energy Fund (TEF) loan agreement will be used to fund a 122 megawatt (MW) natural gas power plant in Texas. “Under the loan agreement, subject to customary financial closing procedures, total project costs are not to exceed $175 million, with …

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US Proposes Gulf of Mexico Oil and Gas Lease Sale in December

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June 25 (Reuters) – The Trump administration is proposing to hold a sale of oil and gas drilling rights on 80 million acres (32.4 million hectares)in the Gulf of Mexico on December 10 with lower deepwater royalty rates, according to the U.S. Bureau of Ocean Energy Management. President Donald Trump issued an executive order in …

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Damaged Unit of Iran’s South Pars Refinery Back Operating, Nour News Says

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(Reuters) – A damaged unit of the South Pars refinery’s Phase 14, which was hit by Israel in its first strike on Iran’s oil and gas sector, has returned to operation, the Iranian state-run agency Nour News reported on Thursday. South Pars, the world’s biggest gas field, is located offshore in Iran’s southern Bushehr province …

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Trump Administration Has ‘No Imminent Plans’ to Refill Nation’s Emergency Oil Reserve

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

(Reuters) – The Trump administration has no imminent plans for refilling the nation’s Strategic Petroleum Reserve, White House spokeswoman Karoline Leavitt said on Thursday. The emergency oil reserve is currently at its lowest levels since the 1980s after President Joe Biden tapped the stockpile to help lower prices amid market uncertainty. Reporting By Nandita Bose …

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Equinor and Partners to Invest $2.1 Bln in Norway Oil, Gas Field

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By Reuters (Reuters) – Equinor  and its partners Vaar Energi  and Inpex Idemitsu will invest more than 21 billion Norwegian crowns ($2.08 billion) to develop Norway’s Fram South oil and gas field, the companies said on Thursday. Production is scheduled to start at the end of 2029, field operator Equinor said in a statement. “Fram South will …

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Global Energy CO2 Emissions Reached Record High Last Year, Report says

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(Reuters) – Global carbon dioxide emissions from the energy sector hit a record high for the fourth year running last year as fossil fuel use kept rising even as renewable energy reached a record high, the Energy Institute’s annual statistical review of world energy showed on Thursday. WHY IT’S IMPORTANT The report’s figures highlight the …

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