APA Corp said on Wednesday it curtailed about 10 million of cubic feet per day (MMcfpd) of U.S. natural gas production and 750 barrels per day of U.S. natural gas liquids output during the second quarter due to weak prices. The U.S. oil and gas producer also completed the sale of its New Mexico assets in June, a deal announced in May. APA said the transaction reduced its second-quarter U.S. production by about 1,800 barrels of oil equivalent per day, roughly 33% of which was oil. Net [Read more]
News
Fort St. John residents challenge Suzuki Foundation over misleading Montney image
Photo used in anti-oil and gas fundraising is of Wyoming By Will Gibson on July 8, 2025, 7:44 pm MDT Deena Del Giusto is one of eight residents of Fort St. John, B.C. who have filed a joint complaint to the Competition Bureau against the David Suzuki Foundation's use of misleading imagery to represent the Montney natural gas play. Photo supplied to the Canadian Energy Centre Twenty years ago during winter break from college in B.C.’s Fraser Valley, 19-year-old Deena Del Giusto [Read more]
Oil giant Saudi Aramco in talks with Commonwealth LNG for offtake agreement, sources say
Oil giant Saudi Aramco is in talks with Commonwealth LNG to buy liquefied natural gas from the U.S. company's facility in Cameron, Louisiana, as it seeks to strengthen its position in the superchilled fuel market, four people told Reuters on Wednesday. Talks are for 2 million tons per annum (mtpa), two of the people said. Both Aramco and Commonwealth LNG did not immediately respond to Reuters requests for comment. Aramco is looking to expand its fast-growing portfolio of LNG, which is [Read more]
US natgas prices fall 4% to six-week low on low cash prices, ample stockpiles
U.S. natural gas futures fell about 4% to a six-week low on Wednesday on low cash prices, an increase in output so far this month and higher-than-normal amounts of gas in storage. That price decline occurred despite a drop in gas output in recent days and forecasts for the weather to remain hotter than normal through late July, which should lead power generators to keep burning large amounts of gas to meet demand for air conditioning. Front-month gas futures for August delivery on the New [Read more]
U.S. issues additional Iran-related sanctions, Treasury website shows
The United States imposed sanctions on 22 companies in Hong Kong, the United Arab Emirates and Turkey on Wednesday for their roles in helping sell Iranian oil, the Treasury Department said. The oil sales benefit Iran's Islamic Revolutionary Guard Corps' Quds Force, Iran’s most powerful paramilitary organization, it said. The U.S. has designated Quds as a foreign terrorist organization. The Quds Force employs front companies outside of Iran that use offshore accounts to transfer hundreds of [Read more]
US crude stocks rise, gasoline and distillate inventories fall, EIA says
U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 7.1 million barrels to 426 million barrels in the week ended July 4, the EIA said, compared with analysts' expectations in a Reuters poll for a 2.1 million-barrel draw. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 464,000 barrels, the EIA said. Refinery crude runs fell by 99,000 barrels per day, the EIA said. [Read more]
Weekly Word Wandering: A great Trump initiative, a terrible Trump initiative, and a potential excellent use for depleted oil reservoirs – bio-engineered hydrogen production
Engaging Articles of the Week US Electrical grid trajectory: “The status quo is unsustainable.” Thus speaks the first Highlight of a report from the US Department of Energy called “Report on Evaluating U.S. Grid Reliability and Security”. Under the previous US administration, the Department of Energy was gutted of anyone that might have even thought “hydrocarbons are kind of useful.” The entire upper echelon was staffed with energy transitionists; those who knew it was all happening and fast [Read more]
UAE says oil markets are absorbing more barrels without stocks rising
Oil markets are absorbing OPEC+ production increases without building inventories, which means they are thirsty for more oil, United Arab Emirates' Energy Minister Suhail al-Mazrouei said on Wednesday. OPEC+, which pumps about half of the world's oil, has been curtailing production for several years to support the market. But it has reversed course this year to regain market share and as U.S. President Donald Trump demanded the group pump more to help keep gasoline prices lower. OPEC+ [Read more]
Donald Trump’s tariff scattergun will miss target
(The authors are Reuters Breakingviews columnists. The opinions expressed are their own.) By Aimee Donnellan, Karen Kwok DUBLIN/LONDON, July 9 (Reuters Breakingviews) - A good tradesperson picks the right tool for the job. That’s not the approach Donald Trump is taking to his retooling of the American economy. The U.S. president floated 200% and 50% tariffs on drugs and copper respectively. But the outcome of hammering these two wildly different industries with the same blunt instrument is [Read more]
Kremlin says it is ‘calm’ regarding Trump criticism of Putin over Ukraine talks
The Kremlin, asked on Wednesday about U.S. President Donald Trump's criticism of Russian President Vladimir Putin, said that Moscow was "calm" regarding the criticism, and that it would continue to try to fix a "broken" U.S.-Russia relationship. In a call with reporters, Kremlin spokesman Dmitry Peskov said: "We are quite calm about this." "We expect to continue our dialogue with Washington and our line on repairing the rather broken bilateral relations," he added. Trump said on Tuesday [Read more]
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