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EU Lawmakers Back Further Weakening of Sustainability Law

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

European Union lawmakers backed further cuts to the bloc’s corporate sustainability law on Thursday, following months of pressure from companies and some governments demanding the EU weakens its rules. The European Union’s corporate sustainability due diligence directive (CSDDD) was adopted last year and requires companies to fix human rights and environmental issues in their supply …

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Oil Prices Tick Up After Steep Losses in Previous Session

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

Summary API shows rise in weekly US crude, sources say OPEC report says oil supply will match demand in 2026 IEA says oil, natural gas demand to grow through 2050 (Reuters) – Oil prices edged up on Thursday, taking a break after major losses in the previous session, as investors weighed concerns about global oversupply …

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Lukoil’s Foreign Assets Attract Rush of Buyers

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(Reuters) – From Egypt to Kazakhstan, the foreign assets of Russian oil major Lukoil are attracting potential bidders as time runs out to clear deals before U.S. authorities enforce sanctions. The U.S. has hit Lukoil with sanctions as part of its effort to bring the Kremlin to peace talks over Ukraine, and has already blocked …

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EIA Raises US Oil Output Forecast, Says Oversupply Will Weigh on Prices

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(Reuters) – U.S. oil production is expected to set a larger record this year than previously forecast, even as global oil supply outpaces fuel demand, the Energy Information Administration said in its Short-Term Energy Outlook report on Wednesday. The Department of Energy’s statistical arm expects U.S. oil output to average 13.6 million barrels per day …

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The IEA Isn’t So Sure About Peak Oil Anymore: Energy Daily

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The energy watchdog says it’s possible global oil consumption could keep increasing through the middle of the century. By Grant Smith For several years, one of the world’s top oil forecasters seemed sure that demand growth would soon plateau. That certainty is fraying. On Wednesday, the International Energy Agency in Paris — founded in the …

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Chevron Picks Texas for First AI Data Center Power Project

Artificial Inteligence, Conventional Energy, Electricity Grid, Energy Topics & Technology, Latest, Oil / By

By Kevin Crowley Chevron Corp. chose West Texas as the site of its first project to provide natural gas-fired power to a data center, the beginning of a new line of business for the oil giant to capitalize on the boom in artificial intelligence. The company is in exclusive talks with the data center’s end …

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Baytex to Divest of U.S. Eagle Ford Assets to Advance Higher-Return Canadian Core Portfolio

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CALGARY – Baytex Energy Corp. says it has signed a deal to sell its U.S. Eagle Ford assets to an undisclosed buyer for about $3.25 billion in a move to focus on its operations in Alberta and Saskatchewan. The company says the light oil Eagle Ford operations in Texas represent all of its U.S. business. Baytex chair …

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OPEC Sees Balanced Oil Market in 2026, Moves Further Away from Deficit Projection

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

World oil supply is expected to match demand next year in a reflection of the wider OPEC+ group’s production increases, an OPEC report showed on Wednesday, marking a further shift from its earlier projections of a supply deficit in 2026. OPEC+, which groups the Organization of the Petroleum Exporting Countries, Russia and other allies, has …

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COMMENTARY: IEA’s Bullish Oil Outlook is a Nod to Trump, Wake-Up Call for World: Bousso

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The International Energy Agency’s latest outlook signals that oil demand may continue rising into 2050, a sharp shift from its previous reports and a stark reminder of how dominant black gold remains in the global economy. The IEA’s annual World Energy Outlook, published on Wednesday, maps out different trajectories for energy demand through 2050. This …

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TotalEnergies Agrees Renewable Power deal with Google for Ohio Data centres

Artificial Inteligence, Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Oil, US News / By

By Reuters Nov 12 (Reuters) – Oil major TotalEnergies  has agreed a 15-year power purchase deal to supply Alphabet’s Google  with 1.5 terawatt hours of renewable electricity from its Montpelier solar farm in Ohio, the French company said on Wednesday. The solar facility, which is nearing completion, is connected to the PJM grid, the largest in the United …

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