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

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(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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US LNG Exports Will Shrink if Margin Squeeze Intensifies: Bousso

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  Soaring U.S. natural gas prices are eroding profit margins for the nation’s LNG producers, a trend that could deepen in the coming years, forcing exports to drop as global competition heats up.   U.S. benchmark Henry Hub gas prices spiked on Wednesday to their highest level in three years at over $5 per million …

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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

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(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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US Natgas Futures Climb 3% to 35-Month High on Record LNG Flows, Colder Weather Forecasts

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(Reuters) – U.S. natural gas futures climbed about 3% on Wednesday to a 35-month high, on record flows to liquefied natural gas (LNG) export plants and forecasts for colder weather and higher demand over the next two weeks than previously expected. Limiting gains were record output, ample amounts of gas in storage and lower gas …

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EU Finalizes Deal to Phase Out Russian Gas Imports by 2027

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By Ewa Krukowska and Stephen Stapczynski The European Union has reached a deal to phase out Russian gas faster than originally planned, a move that aims to finally sever ties between the bloc and its once-primary energy supplier. In the aftermath of the invasion of Ukraine, traders and energy companies have closely monitored the EU’s …

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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

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(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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