U.S. power developers are planning to sharply boost natural gas and hydropower generation capacity and are cutting back on plans to add new solar and wind farms, according to recent data on the U.S. power capacity pipeline. As of mid-2025, U.S. power developers had just over 114,000 megawatts (MW) of natural gas capacity under construction or in so-called pre-construction, according to data from Global Energy Monitor (GEM). That capacity total is more than twice as large as what was in [Read more]
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Oil prices extend losses as OPEC+ considers another output hike
Oil prices slid on Thursday, extending a decline of more than 2% in the previous session, as investors and traders look ahead to a weekend meeting of OPEC+ where producers are expected to consider another increase in output targets. Brent crude fell 46 cents, or 0.7%, to $67.14 a barrel by 0416 GMT, while U.S. West Texas Intermediate crude fell 47 cents, or 0.7%, to $63.5 a barrel. Eight members of the Organization of the Petroleum Exporting Countries and allies - known together as OPEC+ - [Read more]
Russia-China memo sets route and volumes for new gas pipeline, Russian minister says
Russia and China have agreed on the route and supply volumes for the planned Power of Siberia 2 gas pipeline, Russian state-run RIA news agency reported on Thursday, citing Energy Minister Sergei Tsivilev. According to the signed memorandum, the pipeline will run via Mongolia and is expected to deliver around 50 billion cubic metres of gas annually. Russia and China gave their blessing to the vast pipeline project with a binding memorandum signed during Putin's visit to China, but little [Read more]
Russia’s Sakhalin governor says Exxon’s return would be beneficial
The governor of Russia's far eastern Sakhalin region told Reuters on Thursday that a potential return of U.S. energy major Exxon Mobil would be a boost for the local oil and gas business. Russian President Vladimir Putin signed last month a decree that could allow foreign investors, including top U.S. oil major Exxon Mobil to regain shares in the Sakhalin-1 oil and gas project. The signing of the decree came on the day Russian president Vladimir Putin met Donald Trump in Alaska for a [Read more]
Strathcona Resources Ltd. Provides Update on Form of $2.1 Billion Special Distribution
CALGARY, AB, Sept. 3, 2025 /CNW/ - Strathcona Resources Ltd. ("Strathcona") announced today the anticipated form of the previously disclosed $2.142 billion special distribution (the "Special Distribution") on all of the issued and outstanding Strathcona common shares ("Strathcona Shares"). The Special Distribution is expected to be completed as part of a statutory plan of arrangement that would entitle Strathcona shareholders to receive the Special Distribution as a dividend or, [Read more]
Global oil and gas company layoffs in 2024 and 2025
International oil and gas companies have announced they would cut tens of thousands of jobs in 2024 and 2025 due to lower oil prices and as they consolidate after the biggest wave of mergers and acquisitions in the industry for decades. Benchmark Brent crude futures have fallen in 2025 as OPEC+ increases output and amid economic uncertainty due to U.S. trade policy. Here are some of the oil and gas companies that have announced job cuts in 2024-2025: Company Description Layoff/Job [Read more]
Discount on Western Canada Select narrows
The discount on Western Canada Select to North American benchmark West Texas Intermediate futures narrowed on Wednesday. WCS for October delivery in Hardisty, Alberta, settled at $11.45 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared with $11.70 a barrel discount on Tuesday. * Prior to this week's tightening, the WCS discount had widened to as much as $12.80 a barrel in late August. The sharp widening was due in part to BP's 440,000-barrel-per-day refinery [Read more]
EQT Signs 20-Year Deal with NextDecade for 1.5 MTPA of LNG from Rio Grande LNG Train 5
PITTSBURGH, Sept. 3, 2025 /PRNewswire/ -- EQT Corporation (NYSE: EQT) announced today that it has secured 1.5 million tonnes per annum (MTPA) of liquefaction capacity under a 20-year Sale and Purchase Agreement (SPA) with NextDecade Corporation (NextDecade) at Train 5 of the Rio Grande LNG export facility in Texas. The agreement will be on a free-on-board basis at a price indexed to Henry Hub, subject to NextDecade making a positive final investment decision (FID) on Train 5. Toby Z. Rice, [Read more]
Venezuela’s oil exports rise to 9-month high as cargoes return to US
Venezuela's oil exports surpassed 900,000 barrels per day in August, the highest level since November, after energy producer Chevron received a license that has allowed the OPEC country's crude to return to the U.S. market after a four-month pause, shipping data showed. The U.S. Treasury Department last month issued a restricted authorization for Chevron, one of the main partners of Venezuelan state company PDVSA, to operate in the sanctioned South American country and export its oil. The [Read more]
DUCs (drilled but uncompleted wells) in the Montney – StackDX Intel
Drilled but uncompleted wells (DUCs) represent a critical component of oil and gas development, reflecting wells that have been drilled but not yet brought on production through completion processes like hydraulic fracturing. These wells can serve as a strategic inventory, allowing operators to respond to market conditions, such as price fluctuations or infrastructure constraints. Factors like crew shortages, regulatory hurdles, or pipeline capacity, as seen in various geographical areas, often [Read more]
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