Oil prices rose by more than $1 in early trading on Monday after OPEC+ said on Sunday it would delay a planned December output hike by one month due to soft demand and rising supply outside the group. Brent futures rose by $1.18 per barrel, or 1.61%, to $74.28 a barrel by 0121 GMT. U.S. West Texas Intermediate (WTI) crude rose by $1.20 a barrel, or 1.73%, to $70.69. OPEC+, which includes the Organization of the Petroleum Exporting Countries plus Russia and other allies, was due to increase [Read more]
Canada to unveil proposed emissions cap on oil and gas sector on Monday
Canada will on Monday unveil the details of its long-awaited plan to cap emissions of greenhouse gases from the oil and gas sector, an idea which the energy industry and some provinces strongly oppose. Canada said in December 2023 it wanted oil and gas companies to cut emissions up to 38% from 2019 levels by 2030 by introducing a cap-and-trade system, and would unveil its draft proposals before the end of 2024. A government announcement issued on Sunday said details of the draft plan would [Read more]
US regulators reject amended interconnect agreement for Amazon data center
U.S. energy regulators rejected an amended interconnection agreement for an Amazon data center connected directly to a nuclear power plant in Pennsylvania, a filing showed on Friday. Members of the Federal Energy Regulatory Commission said the agreement to increase the capacity of the data center located on the site of Talen Energy's Susquehanna nuclear generating facility could raise power bills for the public and affect the grid's reliability. As Big Tech races to grow its data centers [Read more]
Another US oil refinery to vanish with Lyondell Houston plant closing
Chemical maker LyondellBasell Industries on Friday detailed its long-announced plan to permanently shutter its 263,776 barrel-per-day (bpd) Houston oil refinery in the first quarter of 2025. The planned closing marks the latest in a wave of U.S. refinery closures as motor fuel demand is expected to peak this decade and decline under pressure from renewable fuels and electric vehicles. In January, one of the facility's crude distillation units (CDU) and coker production train will shut, [Read more]
Exxon, Chevron top Q3 profit expectations as US oil output hits record high
U.S. oil producers Exxon Mobil and Chevron posted better-than-expected third-quarter profits on Friday, outperforming their European rivals, as record U.S. oil production cushioned the blow from a plunge in fuel margins. The two focused on expanding oil and gas production as rivals BP and Shell spent heavily on wind, solar and renewables that have yet to pay off. Both U.S. oil firms have meanwhile benefited from acquisitions of smaller oil producers. Still, their surging production could [Read more]
US oil and gas rig count unchanged this week, Baker Hughes says
U.S. energy firms kept the number of oil and natural gas rigs operating unchanged for a second week in a row, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, held at 585 to Nov. 1. Baker Hughes said that puts the total rig count down 33 rigs, or 5% below this time last year. The number of oil rigs fell by one to 479 this week, while gas rigs rose by one to 102. The oil and gas rig count [Read more]
US October LNG exports climb 4% from September
U.S. exports of liquefied natural gas in October rose to the third highest level this year as cooler weather, one extra day of shipments and no major outages boosted output, data from financial firm LSEG showed. Output hit nearly 7.56 million metric tons (MT) in October, up 4% from September's 7.26 MT. September's exports were hurt by the closure of Berkshire Hathaway Energy's Cove Point for autumn maintenance. The U.S. shale gas revolution has made the country the world's largest exporter [Read more]
Venezuela’s oil exports hit a 4-year peak on higher output, sales to US, India
Venezuela's oil exports rose to a four-year high, approaching 950,000 barrels per day in October, boosted by growing crude output and more sales to India and the United States, according to shipping data and documents from state firm PDVSA. The increase happened despite a large storage terminal fire last month, tighter U.S. sanctions since June and the arrest of the country's former oil minister, Pedro Tellechea, and former PDVSA executives over corruption allegations. A bounce in crude [Read more]
Iran braces for Trump victory, fearing more Israeli strikes, Western sanctions
Iran’s leadership and allies are bracing for what they would regard as a dreadful outcome of the imminent U.S. presidential election: A return to power of Donald Trump. Opinion polls suggest the Republican Trump and Democratic Vice President Kamala Harris remain locked in a close contest. But Iranian leaders and their regional allies in Lebanon, Iraq, and Yemen are concerned that Trump could well triumph on Nov. 5 and this could spell more trouble for them. Iran's main concern is the [Read more]
Oil extends gains on reports Iran preparing to strike at Israel
Oil prices extended gains in early Asian trade on Friday, following reports that Iran was preparing a retaliatory strike on Israel from Iraqi territory in the coming days. U.S. West Texas Intermediate crude futures rose $1.24, or 1.8%, to $70.50 a barrel by 2229 GMT after settling up 0.95% in the previous session. Brent crude, which will roll to the January contract, has yet to start trading. The December contract which expired on Thursday closed 0.85% higher at $73.17. Israeli [Read more]
- « Previous Page
- 1
- …
- 182
- 183
- 184
- 185
- 186
- …
- 894
- Next Page »