Fuel importers in California have received gasoline from Saudi Arabia's Jubail Industrial Port after maintenance at the world's largest refinery in India helped to open the rare arbitrage opportunity, data from oil analytics firm Kpler showed. Three gasoline shipments totaling about 886,000 barrels from Saudi's Jubail Industrial Port have discharged in recent months at Southern California's Olympus Terminals, according to Kpler. Prior to this, California had not received fuel imports from [Read more]
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US oil output rose to fresh record in May, EIA data shows
U.S. crude oil production rose to a record 13.49 million barrels-per-day in May, even as oversupply concerns pushed prices for the commodity to four-year lows, data from the U.S. Energy Information Administration showed on Thursday. U.S. President Donald Trump has repeatedly called for higher oil production from the country, where output was already at record levels in each of the past two years, and has taken steps to speed up and expand drilling on federal lands. At the same time, [Read more]
Freeport LNG gas flows still curtailed after power outage, LSEG data show
The Freeport LNG export terminal in Texas was running at about half of normal capacity on Thursday following a power interruption that had put the entire plant offline a day earlier, according to data from financial firm LSEG. Freeport LNG is the third-largest liquefied natural gas (LNG) plant in the U.S. and in the past has influenced LNG prices when it had technical challenges. The facility nominated some 1.1 billion cubic feet of natural gas on Thursday, according to the LSEG data, [Read more]
Exxon, Chevron profits to drop to lowest point since pandemic, analysts say
Top U.S. oil producers Exxon Mobil and Chevron are expected to report their lowest earnings in four years when they release second-quarter results on Friday, as weaker oil and gas prices slashed revenue. The April-June quarter covered a volatile period in which the OPEC+ group of producers continued raising their production volumes, putting pressure on crude prices and in turn cutting the profits of oil firms. Oscillating tariff policy from U.S. President Donald Trump's administration also added [Read more]
TOP WELL REPORT – June volumes – Baytex at the top of the list…this time it’s NOT the Clearwater – StackDX Intel
Most production data is out for June. BC data has been reported in full, while Alberta has reported oil, condensate, and gas; full Alberta NGL data including pentane and marketable gas is due out in a week or so, while Saskatchewan data should be in imminently. While the June data won’t be considered complete quite yet, it is nonetheless worthwhile to show the data as it stands today. Pentane volumes in Alberta will not be represented yet for June which may affect liquids results, and “gas [Read more]
EU considers pooling demand from companies to buy more US gas
The European Commission could pool demand from European companies to buy more U.S. liquefied natural gas, as part of its efforts to reach a pledge to buy $250 billion in U.S. energy per year, it said on Thursday. Under a framework trade deal the U.S. and EU agreed on Sunday, the European Union agreed to increase its purchases of U.S. energy to $750 billion over the next three years. Analysts have said that is unrealistically high. The Commission has said it will remain up to private companies [Read more]
TC Energy positioning to capitalize on rising natural gas demand
TC Energy Corp. says it sees rising demand for natural gas pipelines in the future as it reported an increase in second-quarter profit from a year earlier, despite a complex macroeconomic backdrop. The Calgary-based pipeline operator said Thursday that as earnings grow in the short-term, it's also positioning itself for rising demand for natural gas. "Electrification, coal-to-gas conversions, and the rise of AI and data centres are accelerating the need for reliable, low emission base load [Read more]
Cenovus announces second-quarter 2025 results
CALGARY, Alberta, July 31, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its second-quarter 2025 financial and operating results. The company generated approximately $2.4 billion in cash from operating activities, $1.5 billion of adjusted funds flow and $355 million of free funds flow. Total upstream production was 765,900 barrels of oil equivalent per day (BOE/d)1, reflecting planned turnarounds at the Foster Creek and Sunrise oil sands assets, maintenance [Read more]
Sempra Infrastructure and JERA Announce Sale and Purchase Agreement for U.S. LNG from Port Arthur LNG Phase 2
HOUSTON, July 31, 2025 /PRNewswire/ -- Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE), and JERA Co., Inc. (JERA) today announced a 20-year sale and purchase agreement for the supply of 1.5 million tonnes per annum (Mtpa) of liquefied natural gas (LNG) offtake from the Port Arthur LNG Phase 2 development project in Jefferson County, Texas. The LNG will be supplied on a free-on-board basis. This agreement marks a major step forward from the non-binding heads of agreement signed in [Read more]
MPLX LP to buy Northwind Midstream in $2.38 billion deal to expand Permian Basin footprint
MPLX LP said on Thursday it will acquire Northwind Midstream for $2.38 billion in cash to expand its sour gas gathering and processing footprint in the Permian Basin, as producers ramp up drilling in New Mexico. Northwind, backed by Five Point Infrastructure, operates in Lea County, New Mexico, and has more than 200,000 dedicated acres and over 200 miles of gathering pipelines. "The addition of 200,000 dedicated acres will increase MPLX's access to natural gas and NGL volumes," MPLX CEO [Read more]
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