Eight Opec+ members agreed to raise oil production by 137,000 bpd in October, the group said in a statement on Sunday. The group's statement cited steady global economic outlook and current healthy market fundamentals. The countries will meet on 5 October. (Reporting by Ahmed Tolba and Menna Alaa in Cairo Editing by Tomasz Janowski) [Read more]
News
OPEC+ set to raise oil output further from October, Iraq says
OPEC+ is set to agree to further raise oil output on Sunday, while probably slowing the pace of increases from October compared with recent months because of weakening global demand, an Iraqi official and OPEC+ sources said. OPEC+, which includes the Organization of the Petroleum Exporting Countries plus Russia and other allies, has reversed its strategy of output cuts from April and has already raised quotas by about 2.5 million barrels per day. That increase, which equates to about 2.4% of [Read more]
OPEC+ will likely agree to further oil output hike on Sunday, sources say
Eight OPEC+ countries will likely raise oil output on Sunday but probably add less oil from October than in recent months as global demand might be slowing with the end of the driving season, OPEC+ sources said on Saturday. OPEC+ has reversed its strategy of output cuts from April and has already raised quotas by about 2.5 million barrels per day, about 2.4% of world demand, to boost market share and under pressure from U.S. President Donald Trump to lower oil prices. But those increases have [Read more]
Second known tanker carrying sanctioned Russian Arctic LNG berths in China
Another tanker carrying liquefied natural gas from Russia’s sanctioned Arctic LNG 2 project has docked in a Chinese port, ship-tracking data showed, days after Russian President Vladimir Putin met China's leader Xi Jinping in Beijing. The LSEG tracking data indicated the Russian Voskhod LNG tanker was anchored at an LNG terminal in the port of Tieshan in China's southwestern province of Guangxi. The Russian flagged tanker, with a cargo of 150,000 cubic metres of LNG, was loaded up at the [Read more]
Iraq’s premier says he hopes producers will reconsider oil export quota
Iraq hopes fellow producers will reconsider its oil export quota to better reflect its production capacity, Prime Minister Mohammed Shia al-Sudani said on Saturday, a day ahead of an OPEC+ meeting in a rare public comment by a senior Iraqi official. Iraq, the group's largest overproducer, is under pressure from the Organization of the Petroleum Exporting Countries to cut output to compensate for having produced more than its agreed volume. It is among countries that submitted plans in April to [Read more]
Ontario leaders back East–West corridor linking Alberta energy across the country
‘The sooner this gets done, the better’ By Grady Semmens on September 4, 2025, 12:41 pm MDT Matthew Slotwinski, CEO of the Sarnia-Lambton Economic Partnership. Photo courtesy SLEP From his desk in Marathon, Ont., a small community on the north shore of Lake Superior, Mayor Rick Dumas sees the concept of an energy corridor to Western Canada’s oil and gas as a chance to reshape his region’s future. The Ontario government issued a request for proposals on August 7 for a [Read more]
Alberta to create standards for releasing oilsands tailings into environment
EDMONTON - The Alberta government is planning to create standards for releasing treated oilsands tailings into the environment. Creating those standards is one of four new policy recommendations pitched by a government-appointed committee tasked over a year ago with studying tailings management options. Tailings are mixture of water, sand, bitumen residue and chemicals considered toxic to fish and other wildlife. As of 2023, nearly 1.4 trillion litres of the substance were stored in the [Read more]
Discount on Western Canada Select narrows slightly
The discount on Western Canada Select to North American benchmark West Texas Intermediate futures narrowed slightly on Friday. WCS for October delivery in Hardisty, Alberta, settled at $11.50 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared with $11.55 a barrel discount on Thursday. * WCS discounts have been narrower so far in September than in August, due in part to the restart of BP's 440,000-barrel-per-day refinery in Whiting, Indiana, which had been [Read more]
Energy secretary says Russian gas sales to China would not harm US
Energy Secretary Chris Wright said on Friday that he is not worried that any Russian sales of gas to China would harm U.S. exporters of the fuel. Russia and China gave their blessing earlier this week to a gas pipeline called Power of Siberia 2, underscoring Chinese President Xi Jinping's disregard for Western demands that he row back from a deepening partnership with Moscow. Wright touted the Trump administration's focus on rapidly expanding liquefied natural gas exports at an event at [Read more]
US drillers add oil and gas rigs for first time in seven weeks, Baker Hughes says
U.S. energy firms this week added oil and natural gas rigs for the first time in seven weeks, 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, rose by one to 537 in the week to September 5. Despite this week's rig increase, Baker Hughes said the total count was still down 45 rigs, or 7.7%, below this time last year. Baker Hughes said oil rigs rose by two to 414 this week, while gas rigs fell [Read more]
- « Previous Page
- 1
- …
- 455
- 456
- 457
- 458
- 459
- …
- 3803
- Next Page »