The EU is sticking to its deadline to phase out Russian oil and gas imports by 2028, EU Energy Commissioner Dan Jorgensen said on Thursday after a meeting with U.S. Energy Secretary Chris Wright. The EU is negotiating legal proposals to completely phase out imports of Russian oil and gas by January 1, 2028, with a ban on short-term contracts kicking in from next year, but it also faces pressure from the United States to end Russian energy imports sooner. EU Commission President Ursula von der [Read more]
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Northwest US natgas prices reach historic lows in 2025, EIA says
Monthly average natural gas spot prices in the Northwestern U.S. have hit record lows this year, driven by increased Canadian gas supply and muted regional demand for natural gas-fired power, the Energy Information Administration said on Thursday. Daily spot prices at the Northwest Sumas hub averaged $1.59 per million British thermal units (MMBtu) through August, 17% lower than the same period in 2024, and dropped to an all-time monthly low of $0.56/MBtu in June. The EIA said Canadian gas [Read more]
Glenfarne, South Korea’s POSCO International sign 20-year LNG supply deal
Glenfarne's Alaska LNG unit said on Thursday it had signed a preliminary agreement to supply 1 million tonnes per annum (mtpa) of LNG to South Korean trading firm POSCO International for 20 years from its planned export project. Global demand for liquified natural gas has shot up since Russia's invasion of Ukraine turned the gas markets around in 2022, prompting buyers in Europe and Asia to lock in long-term supply deals with U.S. exporters. The deal, which follows the U.S. energy [Read more]
Spearhead Sand Achieves Industry First in the WCSB
Calgary, AB – Spearhead Sand, in partnership with Parallax Energy and Liberty Energy, is proud to announce the successful completion of Canada’s first wet sand hydraulic fracturing operation in the Western Canadian Sedimentary Basin (WCSB). In addition to sourcing the wet sand, Spearhead Sand deployed a new on-site sand storage system designed to streamline storage and delivery operations. This milestone represents a major advancement in the pursuit of innovative, efficient, and sustainable [Read more]
Top 5 Plunger Lift Optimization Misses
Operators are always looking to get the most out of their plunger lift wells—maximizing production, reducing downtime, and extending equipment life. Achieving that consistently means knowing what to adjust, when to adjust it, and how to account for changing conditions in the field. In the push for more efficient and reliable optimization, a few recurring challenges tend to surface. These issues, while common, can limit performance if left unaddressed. Here are the Top 5 Plunger Lift [Read more]
Crude oil to be driven longer-term by supply-demand mismatch, geopolitics: Russell
The global crude oil market is facing two long-term fundamental shifts that will change how cargoes flow around the world and how they are priced. The first factor is a supply and demand issue, with the vast majority of demand growth concentrated in Asia but the supply growth largely coming from the Americas outside of the United States. The second is that energy markets are being increasingly subjected to political influences and the risk is that large blocs of supply are cut off from [Read more]
Europe succumbs to US ‘energy dominance’ at its own risk: Bousso
It may appear quite audacious for the world's largest natural gas producer to demand that its biggest market stop buying from a competitor. But that's exactly what unfolded this week at the global gas industry’s annual gathering in Milan. Speaking at the start of the Gastech conference, U.S. Interior Secretary Doug Burgum delivered a clear message: Europe should stop purchasing gas from Russia, which the United States would happily replace. American energy dominance, a key pillar of President [Read more]
Tokyo Gas seeks flexible LNG deals to weather market turmoil
Tokyo Gas is working to build a geographically and contractually diverse liquefied natural gas to withstand market volatility, but securing flexible supply remains a challenge because it is in high demand from both buyers and sellers, a senior executive said. "Sellers are becoming more like portfolio players - they want to optimise their supply. And as a buyer, we like to optimize our assets. Everyone is on the same page," said Yumiko Yao, General Manager for LNG at Japan's top city-gas [Read more]
Carney to unveil major projects list in Edmonton amid push for investment
EDMONTON - Prime Minister Mark Carney will today unveil his government's list of candidates for major projects that could get fast-track approval as he pushes to spur investment and grow the economy. Bill C-5, which moved through Parliament at lightning speed in the spring, is meant to streamline and speed up approvals for large infrastructure projects the prime minister and his cabinet decide are in the national interest. Carney's government launched a new office over the summer to hasten [Read more]
World oil market to see higher supply, surplus after OPEC+ hike, IEA says
World oil supply will rise more rapidly than expected this year as OPEC+ members increase output further and supply from outside the group grows, the International Energy Agency said on Thursday, and implied that a surplus could grow in 2026. Supply will rise by 2.7 million barrels per day (bpd) in 2025, up from 2.5 million bpd previously forecast, the IEA, which advises industrialised countries, said in a monthly report, and by a further 2.1 million bpd next year. OPEC+ is adding more [Read more]
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