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Barclays Cuts 2025 Brent Crude Forecast on Trade Tensions, OPEC+ Shifts

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

(Reuters) – Barclays lowered its Brent crude forecast on Monday by $4 to $70 a barrel for 2025 and set its 2026 estimate at $62/b, citing “a rocky road ahead for fundamentals” amid escalating trade tensions and OPEC+’s pivot in its production strategy. Despite oil market fundamentals evolving “significantly better than expected” in early 2025, …

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Greek Shippers Return to Russian Oil Market as Prices Slip Below G7 Cap, Sources Say

Conventional Energy, Latest, Oil, US News / By

MOSCOW, April 28 (Reuters) – Greek shipowners are returning to Russia’s Urals oil market as the price slides below the Western price cap of $60 per barrel, allowing them to provide transport and insurance services while complying with sanctions, three trading sources said. The price cap introduced by the Group of Seven countries does not …

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The Crafty US State That’s Showing How to Thrive Under Trump

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By Gavin Maguire (Reuters) – Louisiana has long been overshadowed by its more showy neighbour Texas, which boasts a larger economy and population and has for decades wielded greater sway among policymakers in Washington DC and on the world stage. But the Bayou State is staging a revival that could see it emerge as the more …

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TRUMP’S ENERGY PRIORITY: Trump Emergency Move Aims to Cut Approval Times for Energy Projects to 28 Days

Conventional Energy, Latest, LNG, Natural Gas, Oil, Renewable Energy, Solar, Tri-Pinned, US News, Wind / By

(Reuters) – The Trump administration on Wednesday said it would implement an emergency permitting process for energy and mining projects on federal lands, slashing approval times that typically take months or years to at most 28 days. The U.S. Department of the Interior move is in response to President Donald Trump’s national energy emergency declaration, which …

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Energy Secretary Aims to Reassure Oil Bosses Amid Trade War

Conventional Energy, Energy Topics & Technology, Latest, LNG, Natural Gas, OFS-Oilfield Services, Oil / By

Energy Secretary Chris Wright reassured US oil companies that the turmoil from President Donald Trump’s trade war is short-term and the administration supports increased crude output. Wright predicted that the uncertainty will last only “a few more weeks” and that the administration is focused on making it cheaper and easier to pump crude and natural …

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US Refiner Phillips 66 Posts Bigger-Than-Expected Quarterly Loss on Lower Margins

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(Reuters) – Phillips 66 reported a bigger-than-expected loss for the first quarter on Friday, hurt by lower refining margins amid widespread maintenance and turnaround activities across the U.S. refining sector. U.S. refineries typically undergo seasonal maintenance and turnaround activities in preparation for the summer driving season, when fuel demand significantly increases. However, this scheduled downtime …

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SLB Wraps Up Oilfield Services Quarter With Profit Miss, Cautious Outlook

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Natural Gas, OFS-Oilfield Services, Oil / By

Summary SLB joins rivals Halliburton and Baker Hughes in flagging caution Latin America revenue dips 10%, driven by a sharp decline in drilling in Mexico North America revenue rises 8% April 25 (Reuters) – Top oilfield services provider SLB  missed estimates for first-quarter profit on Friday, as weaker Latin American demand dragged on its international business, …

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US Aims to Boost Offshore Oil Drilling by Easing Pressure Rules

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

(Reuters) – The U.S. Interior Department said on Thursday it has implemented new guidelines for allowable pressure differences in a certain type of oil drilling in part of the Gulf of Mexico, changes it expects can boost U.S. oil output. President Donald Trump’s new Energy Dominance Council led by Interior Secretary Doug Burgum is looking …

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EU to Present Roadmap in May to Phase Out All Imports of Russian Fossil Fuels

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

(Reuters) – The European Commission will in the next two weeks present a roadmap on how it intends to phase out all imports of Russian fossil fuels, its President Ursula von der Leyen said at an energy event in London on Thursday. The European Commission has pledged to quit Russian fossil fuels by 2027 in …

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US Widens Sanctions on Iran to Target Lucrative Gas Exports

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By Weilun Soon The US’s campaign to impose “maximum pressure” on Iran’s economy now includes the Islamic Republic’s liquefied petroleum gas exports, as Washington broadens its focus beyond crude oil. The Treasury Department on Tuesday sanctioned Iranian national Seyed Asadoollah Emamjomeh, who’s known to ship liquefied petroleum gas and crude oil from the country to …

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