U.S. Energy Secretary Chris Wright said at a press conference in New York that his department would announce on Wednesday the return to the U.S. Treasury of $13 billion that was slated to subsidize wind, solar, batteries and electric vehicles. (Reporting by Timothy Gardner; Editing by Mark Porter) [Read more]
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US natgas futures steady, cash prices in Waha and AECO turn negative
U.S. natural gas futures were little changed on Wednesday as bearish forecasts for milder weather through early-October offset bullish forecasts for more demand over the next two weeks than previously expected. Front-month gas futures for October delivery on the New York Mercantile Exchange rose 0.5 cents, or 0.2%, to $2.858 per million British thermal units (mmBtu). In the cash market, prices at the Waha Hub in West Texas and the AECO Hub in Alberta traded in negative territory because [Read more]
Oil, gas production slipped in Q3 2025, Dallas Fed survey shows
Oil and gas production and activity in the key producing states of Texas, Louisiana and New Mexico declined slightly in the third quarter of 2025, according to the Dallas Fed on Wednesday. Costs among oilfield service firms rose in the third quarter compared with the second quarter, but at a slower pace. Companies expect a West Texas Intermediate oil price of $63 per barrel and a Henry Hub natural gas price of $3.30 per million British thermal units (MMBtu) at year-end 2025. Data were [Read more]
Eight international oil companies reach agreement with Iraq, KRG to resume oil exports
The eight international oil companies operating in Iraqi Kurdistan reached agreements in principle with Iraq's federal and Kurdish regional governments to resume oil exports, according to an IOC statement seen by Reuters on Wednesday. The agreed framework, once signed and implemented, will allow exports to restart "in the coming days", the statement said. Norway's DNO, and its partner Genel Energy, are yet to sign the agreement, a source with direct knowledge of the matter told Reuters, [Read more]
Guyana’s oil output rose to 685,000 barrels per day in August
Guyana's oil production increased to 685,000 barrels per day in August from 664,000 bpd the previous month, boosted by the start-up of the fourth floating output facility in the South American country, government data seen on Wednesday showed. A consortium led by U.S. energy major Exxon Mobil, which controls all oil and gas output in Guyana, earlier this year received the Floating Production Storage and Offloading (FPSO) facility One Guyana, which expanded output capacity beyond 900,000 [Read more]
From Railcars to Exchangers: How Smarter Industrial Cleaning Is Saving Producers Millions
In Alberta’s energy sector, producers are constantly balancing efficiency, costs, and compliance. While attention often goes to drilling, production, and refining strategies, two areas remain under-optimized yet carry enormous potential for savings: rail transportation and industrial cleaning. Both functions are critical to smooth operations but are often viewed as routine maintenance rather than strategic levers. With foresight and the right partner, however, they can significantly reduce [Read more]
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Kremlin says Exxon is not the only company interested in returning to Russia
Kremlin spokesman Dmitry Peskov, asked about the possible return of Exxon Mobil to Russia, said on Wednesday that the U.S. energy major was not the only company keen to return to the country. "Believe me, there is more than one corporation that is interested in reincarnating its presence on the Russian market," Peskov told RBC radio. Many Western companies, including Exxon, said they would pull out of Russia within days of Moscow sending its troops to Ukraine in February 2022, as [Read more]
Turkey’s BOTAS, Mercuria sign 20-year LNG supply deal
Turkish state energy company BOTAS has signed a 20-year deal with Mercuria for the annual supply of around 4 billion cubic metres (bcm) of liquefied natural gas (LNG) starting in 2026, Energy Minister Alparslan Bayraktar said on Wednesday. The deal, signed in New York during President Tayyip Erdogan's visit to the United Nations General Assembly, will total approximately 70 bcm over its duration. Supplies will be sourced from loading terminals in the United States and regasification [Read more]
Iran sanctions snapback offers Chinese oil buyers a lucrative boost: Bousso
The looming revival of international sanctions on Iran is unlikely to curtail Tehran’s vital oil exports but could benefit Chinese refiners, offering them access to a larger share of discounted Iranian crude. Britain, France, and Germany launched a 30-day process on August 28 that will trigger the reimposition of U.N. sanctions on Iran, accusing Tehran of failing to abide by a 2015 deal with world powers aimed at preventing it from developing a nuclear weapon. Iranian and European diplomats met [Read more]
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