IEA Considers Reviving Dropped Energy Scenario After US Backlash

CDN and International News, Latest / By

By Grant Smith The International Energy Agency, the west’s energy watchdog, is considering reviving one of its long-term energy demand scenarios after criticism from US Republican leaders. The IEA’s decision in 2020 to exclude the so-called Current Policies Scenario from its reports prompted accusations that the agency was letting its commitment to net zero climate …

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US Natural Gas Prices Fall More Than 5% on Milder Weather Forecasts

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

(Reuters) – U.S. natural gas futures fell more than 5% on Monday, dragged down by forecasts of milder weather and lower heating demand next week than previously anticipated. Front-month gas futures for March delivery on the New York Mercantile Exchange were down 30 cents, or 7.1%, at $3.93 per million British thermal units (mmBtu) at …

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Chevron Announces Senior Leadership Changes

Latest, Press Releases, US News / By

HOUSTON–(BUSINESS WIRE)–Chevron Corporation (NYSE: CVX) today announced senior leadership changes as part of the company’s efforts to simplify its organizational structure, execute faster and more effectively, and be positioned for stronger long-term competitiveness. The company’s Oil, Products & Gas organization will be consolidated into two segments: Upstream and Downstream, Midstream & Chemicals. Mark Nelson will continue …

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Exxon’s Australian Unit, Partners to Invest Nearly $200 million in Gas Project

CDN and International News, Latest, LNG, Natural Gas / By

(Reuters) – Exxon Mobil’s Australian unit will invest nearly $200 million in the Kipper 1B gas project, alongside its partners Mitsu and Woodside Energy the U.S. oil major said on the company website on Monday. The Australian Competition & Consumer Commission has warned that the east coast could face a gas supply shortage from 2027, …

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BP to Ditch Renewables Goals and Return Focus to Fossil Fuels

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

Summary • BP under pressure to boost returns from Elliott Investment Management • Changes to be announced on capital markets day investor update • BP’s shares have underperformed rivals Feb 24 (Reuters) – BP’s chief executive will scrap a target to increase renewable generation 20-fold by 2030, returning the focus to fossil fuels, as part …

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OPEC+Rrisks Losing Control With More Output Delays

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

(Reuters) – OPEC and its allies face a tricky dilemma: should they start loosening oil production caps even though the crude supply and demand picture is unlikely to improve in the near future? They may well opt to again delay the crucial moment to keep prices steady, but they increasingly risk losing control of the …

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