Mexico's state-owned oil company Pemex has paid down half of its debts to suppliers since Mexican President Claudia Sheinbaum took office in October 2024, the company's chief executive said on Friday. Chief Executive Victor Rodriguez said in a presentation to Congress that the company had paid 300 billion pesos ($16.33 billion) to suppliers as of September and had used a recently created financial vehicle to pay off supplier debts. About 26 billion pesos in payments were made to suppliers [Read more]
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U.S. natural gas sector deals surge in 2025 on AI, LNG demand from Asia
U.S. natural gas dealmaking has surged in 2025 and is set to accelerate, analysts say, driven by record power demand from AI data centers, rising LNG exports and renewed Asian investment. The United States is poised to see a record surge in power demand this year, led by data centers' outsized energy needs, the U.S. Energy Information Administration (EIA) says. A steep pullback in benchmark gas prices last year from 2022's multi-decade highs after sanctions on Russia slowed talks, but a [Read more]
North Dakota oil output likely up in September but set for long-term downtrend, regulator says
(Recasts throughout with trend, details; adds byline) By Georgina McCartney HOUSTON, Oct 24 - North Dakota oil production is expected to have climbed slightly in September but is on track to fall in the longer term as wells undergo a natural decline, the state regulator said on Friday. North Dakota is home to the Bakken oilfield, a massive shale field that helped push the U.S. to become the world's largest oil producer. The region is facing a wave of consolidation and its wells are [Read more]
Qatar urges gas producers to oppose trade barriers, including EU sustainability law
Gas-producing countries must make clear that they oppose trade barriers, Qatar's Energy Minister Saad al-Kaabi said on Thursday, reiterating his opposition to a European Union sustainability law. Qatar, one of the world's top liquefied natural gas (LNG) exporters, has argued that the EU's corporate sustainability due diligence directive (CSDDD), adopted in 2024, poses a significant risk to state-owned QatarEnergy. The EU rule requires larger companies operating in the bloc to find and fix [Read more]
North Dakota oil production down 10,000 bpd in August vs July to 1,153,000 bpd – state regulator
Oil production in North Dakota fell 10,000 barrels-per-day (bpd) to 1,153,000 bpd in August, monthly data from the state Industrial Commission showed. Bakken and Three Forks oil production stood at 1,124,000 bpd in the month. The data was released on the North Dakota Industrial Commission's general statistics webpage and has been rounded to the nearest 5,000 barrels. It may differ slightly from the commission's monthly index report, also available on its website. [Read more]
Spot crude premiums jump as US sanctions on Russian producers drive China, India demand
Spot premiums in crude markets jumped on Thursday on expectations that U.S. sanctions on top Russian producers will spur China and India's demand for supplies from the Middle East, Africa and South America, trade sources and analysts said. Washington hit major suppliers Rosneft and Lukoil with sanctions over the Ukraine war, sparking concerns over tighter supply of oil from Russia, the top supplier to China and India. Global oil benchmark Brent futures rose by more than 4% on [Read more]
Crunch time for Saudi Arabia as financial elite descend on Riyadh
Global financial titans descend on Riyadh next week for Saudi Arabia's flagship investment conference, for the first time since the return to the White House of Donald Trump, whose taste for extravagant projects chimes with the kingdom's big plans. The Future Investment Initiative (FII) conference is taking place against a backdrop of a fragile U.S.-brokered Gaza ceasefire, simmering regional tensions and a kingdom that is facing growing pressure to demonstrate its massive economic [Read more]
Rig count, frac crew count rise in North Dakota, state regulator says
HOUSTON, OCT 24 - There are currently 28 active rigs in North Dakota, up from 27 in September, according to the state's Department of Mineral Resources on Friday. There are currently 13 frac crews operating in the state, up from 12 in September. North Dakota is the third largest oil-producing state in the U.S. (Reporting by Georgina McCartney in Houston) [Read more]
US dollar nearly flat after dipping on soft inflation
The U.S. dollar was almost flat on Friday after dipping following fresh inflation data that showed that U.S. consumer prices increased less than expected in September, keeping the Federal Reserve on track to cut interest rates again next week. The Consumer Price Index rose 0.3% last month and 3.0% in the 12 months through September. Economists polled by Reuters had forecast the CPI increasing by 0.4% for the month and rising 3.1% year-on-year. The U.S. dollar index was last down 0.003% at [Read more]
Russia’s top Indian oil client Reliance says will abide by western sanctions
Reliance Industries Ltd, the top Indian buyer of Russian oil, will abide by Western sanctions against Moscow while maintaining its relationship with current oil suppliers, its spokesperson said in a statement. Reliance, which is controlled by billionaire Mukesh Ambani and operates the world's biggest refining complex at Jamnagar in western Gujarat state, has a long-term deal to buy nearly 500,000 bpd of crude oil from Russian oil major Rosneft. The refiner also buys Russian oil from [Read more]
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