The Australian unit of U.S. oil giant Chevron said on Friday that the partners of the Gorgon Joint Venture have approved the A$3 billion ($1.98 billion) Gorgon Stage 3 development off Western Australia's northwest coast. The development will be used as backfill for the existing LNG export concern and will link the offshore Geryon and Eurytion natural gas fields to Gorgon's existing infrastructure on Barrow Island. Chevron said in Gorgon Stage 3, six wells will be drilled across two fields, [Read more]
News
Oil prices head for 2% weekly gain as Fed hopes boost market, Venezuela tensions loom
By Colleen Howe WTI oil prices were heading for weekly gains of close to 2% in early trading on Friday, supported by an expected Federal Reserve interest rate cut, escalating U.S.-Venezuela tensions and stalled peace talks in Moscow. It would be a second straight week of increases. Prices were little changed at market open on Friday, with Brent crude up 6 cents, or 0.09%, at $63.32 per barrel by 0104 GMT. U.S. West Texas Intermediate was up 4 cents, or 0.07%, at $59.71 a barrel. Both [Read more]
Western Canada Select trading at steepest discounts since March
The discount on Western Canada Select to North American benchmark West Texas Intermediate futures narrowed on Thursday but remains wider than it has been since March. WCS for January delivery in Hardisty, Alberta, settled at $12.85 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared to $13 on Wednesday. After spending much of the year at historically tight levels, in large part due to the Trans Mountain pipeline expansion which has given Canadian oil producers [Read more]
Shell-led LNG Canada’s second processing unit is down, sources say
Shell-led LNG Canada's second processing unit, known as Train 2, remains down nearly a month after its initial start-up, two sources told Reuters. The company said on November 20 that a re-start had been scheduled for December 1 and would last about two weeks. A spokesperson for LNG Canada said on Thursday it expects to provide an update later this week. Located in Kitimat, British Columbia, the complex is the first major LNG export facility in Canada and the first on North America's West [Read more]
Oil tanker traffic surges but spills stay at zero after Trans Mountain Expansion
Bigger project maintains decades-long marine safety record By CEC Staff on December 4, 2025, 10:07 am MST Tanker calling at the Westridge Marine Terminal in the Port of Vancouver. Photo courtesy Trans Mountain Corporation The Trans Mountain system continues its decades-long record of zero marine spills, even as oil tanker traffic has surged more than 800 per cent since the pipeline’s expansion in May 2024. The number of tankers calling at Trans Mountain’s Westridge Marine [Read more]
US natural gas futures edge up to 35-month high on cold snap and near-record LNG export flows
U.S. natural gas futures edged up about 1% to a 35-month high on near-record flows of gas to liquefied natural gas (LNG) export plants and as extreme cold boosted heating demand and cash prices in several regions to their highest since last winter. Limiting Thursday's price increase for most of the trading day were a small weekly storage withdrawal, reduced forecasts for demand over the next two weeks, ample amounts of gas in inventory and lower prices in Europe and Asia. Front-month gas [Read more]
US Congress repeals Biden-era limits on oil and gas in Alaska refuge
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 Plain of the Arctic National Wildlife Refuge. One Republican senator, Susan Collins of Maine, voted with Democrats against the resolution. The [Read more]
Glenfarne finalizes 20-year LNG supply deal with South Korea’s POSCO
Glenfarne's Alaska LNG unit said on Thursday it finalized an agreement to supply 1 million tonnes per annum of liquefied natural gas to South Korean trading firm POSCO International for 20 years from its planned export project. This follows a preliminary agreement signed in September. Global demand for the superchilled fuel has surged since Russia's invasion of Ukraine upended gas markets in 2022, driving buyers in Europe and Asia to lock in long-term supply deals with U.S. [Read more]
Kazakhstan’s oil output declines as exports curbed by damaged terminal, source says
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% of global supply, suspended operations on Saturday after a mooring at the terminal, located near Russia's Novorossiysk port, was damaged. It later resumed [Read more]
Facilities Manager Synchronizes Turbines to Flow Wells
In Central Alberta, a major Canadian oil and gas producer has deployed and remotely managed a synchronized turbine array to combust flare gas and support the flowing of its oil wells. Six wells at a truck-offloading production facility have run successfully for several months while remaining fully compliant with both Alberta and federal emissions standards. The turbine configuration consumes approximately 10 decs of gas per day and produces nearly 1 MW of reliable power in an area with limited [Read more]
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