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(Reuters) – U.S. crude oil stockpiles rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 3.7 million barrels to 420.3 million barrels in the week ended October 3, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.9 million-barrel rise. …
US Crude Stockpiles Rise, Fuel Inventories Fall, EIA Says Read More »
U.S. shale drillers are facing higher prices for tungsten, a rare, ultra-hard metal used for industrial tools like drillbits, as Chinese export controls have squeezed supply, threatening U.S. President Donald Trump’s ambitions to boost America’s fossil fuel production. Tungsten makes up as much as 75% of the drillbits deployed in oilfields. The metal’s price has …
Rising Tungsten Prices Worsen Oil Drillers’ Inflation Worries Read More »
Oct 8 (Reuters) – Cenovus Energy on Wednesday sweetened its offer to acquire MEG Energy raising the value of its proposed deal to C$8.6 billion ($6.16 billion), including debt, in an attempt to match a rival bid from Strathcona Resources. Cenovus raised its bid by C$2.35 to about C$29.80 per share, and said this …
Despite coming off a record quarter of vehicle deliveries, Tesla’s global sales have fallen around six per cent year-to-date Bloomberg News While the company started building a more affordable model in June, they opted to put off production until after the U.S. phased out up to US$7,500 federal tax credits. Photo by Mike Stewart/AP Photo/Postmedia files …
Tesla Unveils Under-US$40,000 Versions of its Top-Selling EVs Read More »
(Reuters) – Chevron on Tuesday named a new head of global exploration as CEO Mike Wirth works to improve the company’s track record in discovering new sources of oil and gas. Kevin McLachlan will become vice president of exploration effective Nov. 1, succeeding veteran executive Liz Schwarze, who will retire in February after 36 years …
Chevron Shakes Up Exploration With New Hire From TotalEnergies Read More »
(Reuters) – Chevron said on Tuesday it was working to restart some of the processing units that were shut down due to a fire at its El Segundo refinery last week. “The refinery continues to operate and create transportation fuels, although at diminished rates,” the company said. Last week, Chevron’s El Segundo refinery took multiple units offline after …
Chevron Working to Restart Units at El Segundo Refinery After Fire Read More »
Summary OPEC+ opted for modest hike due to glut concerns, sources say OPEC and non-OPEC supply rising Supply to far exceed demand in 2026 -Reuters poll (Reuters) – OPEC+ oil-producing countries opted for only a modest rise to November output due to concerns about a potential global glut, sources within the group said, as non-OPEC …
As Oil Glut Fears Mount, OPEC+ Restrains Output Rises for Now Read More »
By Javier Blas The oil market is heading for an immense surplus in early 2026. How large? “Cartoonish,” reckons Macquarie Group Ltd., a bank with a huge commodities business. What’s the solution? Stockpile millions of barrels of crude into tanks. It’s a tried-and-tested response, but this time there’s a catch: interest rates are much higher …
COMMENTARY: The Oil Market’s 2026 Tsunami Will Be Costly to Finance Read More »
German Economy and Energy Minister Katherina Reiche attends a statement before “steel talks” in Berlin, Germany, October 1, 2025. REUTERS/Liesa Johannssen BERLIN, Oct 6 (Reuters) – German Economy Minister Katherina Reiche on Monday unveiled a 6 billion euro ($7 billion) funding initiative aimed at industrial decarbonisation, incorporating carbon capture and storage (CCS) technology into the …
Oct 6 (Reuters) – Chart Industries (GTLS.N) said on Monday that its shareholders voted to approve the company’s acquisition by Baker Hughes (BKR.O). In July, Baker Hughes said it would buy Chart Industries in a $13.6 billion all-cash deal, including debt, topping a previously agreed merger offer that Chart struck with rival Flowserve (FLS.N). Chart …
Chart Industries Backs Sale to Baker Hughes for $13.6 Billion Read More »
