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US Congress Repeals Biden-Era Limits on Oil and Gas in Alaska Refuge

Conventional Energy, Latest, Natural Gas, Oil, US News / By

(Reuters) – Congressional lawmakers on Thursday voted to repeal a Biden-era policy that limited the amount of land in an Alaska wildlife refuge that could be leased for oil and gas development. The U.S. Senate voted 49-45 to approve a resolution that revokes the Interior Department’s 2024 rule governing energy development on the 1.56-million-acre Coastal …

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US Congress Repeals Biden-Era Limits on Oil and Gas in Alaska Refuge

Conventional Energy, Latest, Natural Gas, Oil, US News / By

(Reuters) – Congressional lawmakers on Thursday voted to repeal a Biden-era policy that limited the amount of land in an Alaska wildlife refuge that could be leased for oil and gas development. The U.S. Senate voted 49-45 to approve a resolution that revokes the Interior Department’s 2024 rule governing energy development on the 1.56-million-acre Coastal …

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Kazakhstan’s Oil Output Declines as Exports Curbed by Damaged Terminal, Source Says

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

(Reuters) – Kazakhstan’s oil and gas condensate production declined by 6% in the first two days of December, an industry source said on Thursday, following a Ukrainian drone attack on the Caspian Pipeline Consortium’s (CPC) Black Sea loading facility. The CPC pipeline, which carries over 80% of Kazakhstan’s oil exports and handles more than 1% …

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Chevron Announces 2026 Capex Budget of $18 to $19 Billion

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HOUSTON–(BUSINESS WIRE)–Chevron Corporation (NYSE: CVX) today announced an organic capital expenditure range of $18 to $19 billion for consolidated subsidiaries (capex) for 2026, at the low-end of the long-term guidance range of $18 to $21 billion. Affiliate capital expenditure (affiliate capex) is expected to be $1.3 to $1.7 billion for 2026. “Our 2026 capital program focuses …

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Chevron to Spend Up to $19 Billion Next Year in Focus on US, Guyana Oil Production

Conventional Energy, Latest, Oil, US News / By

(Reuters) – Chevron said on Wednesday that capital expenditure for 2026 will be between $18 billion and $19 billion as the oil major focuses on production in the U.S. and investments connected to a recently-acquired oil stake in Guyana. The range is at the low-end of previous guidance that put annual investment between $18 billion …

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Canadian Oil Tumbles to Weakest Since March as World Glut Builds

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Heavy Western Canadian Select fell to US$13 below West Texas Intermediate on Tuesday By Robert Tuttle Canadian crude prices have fallen to their weakest relative to the U.S. benchmark since March as surging production from Alberta meets an already well-supplied world market. Heavy Western Canadian Select, traded in Alberta for January, fell to US$13 below …

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Technical Glitch Allowed Some Traders to Access US Oil Market Data Earlier Than Others

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(Reuters) – The U.S. Energy Information Administration published its weekly petroleum status report more than half an hour later than expected on Wednesday due to technical issues, although some traders got access to the data earlier than others. Oil traders closely watch the weekly EIA report as it includes the U.S. government’s official update on …

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Venezuela’s Oil Exports Surpass 900,000 bpd Despite US Pressure, Data Shows

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

(Reuters) – Venezuela’s oil exports rose slightly to some 921,000 barrels per day (bpd) in November, the third-highest monthly average so far this year, as the country used more diluents to produce exportable grades, according to shipping data and documents. The OPEC producer is under increasing political pressure from the U.S., which has struck a …

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US Crude, Gasoline Stocks Rise, Distillate Inventories Fall, EIA Says

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

(Reuters) – HOUSTON, Dec 3 – U.S. crude and gasoline stocks rose while distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 574,000 barrels to 427.5 million barrels in the week ended November 28, the EIA said, compared with analysts’ expectations in a Reuters poll for an 821,000-barrel …

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US Crude Oil Imports From Mexico Fell to Record Low Last Week, EIA Says

Conventional Energy, Latest, Oil, US News / By

(Reuters) – U.S. crude oil imports from Mexico fell by 431,000 barrels per day (bpd) to a weekly record low of 131,000 bpd in the week ended November 28, according to data from the U.S. Energy Information Administration’s (EIA) Petroleum Supply Report going back to 2010. That was lower than the prior all-time low for …

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