VANCOUVER - Ksi Lisims LNG LP has signed a long-term supply deal with Centrica Energy for its proposed liquefied natural gas export facility. Under the agreement, the parent company behind British Gas will buy one million tonnes of LNG per year for 20 years. Ksi Lisims LNG has proposed a floating export facility located on the northwest coast of B.C. with capacity for 12 million tonnes of LNG per year. With the Centrica commitment, the company says it has signed agreements covering nine [Read more]
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US crude oil output rose in July, while petroleum demand declined, EIA says
US crude oil output rose in July, while demand for crude oil and petroleum products declined, the US Energy Information Administration (EIA) said in its Petroleum Supply Monthly (PSM) report on Wednesday. Crude output climbed to 13.95 million barrels per day (bpd) in July, up from 13.84 million bpd in June. The monthly record high was 14.00 million bpd in October 2025. US demand for crude oil and petroleum products fell to 20.61 million bpd in July, down from 20.74 million bpd in June. [Read more]
US oil and gas production rises in Q3 2026 but price uncertainty plagues producers, Dallas Fed survey says
Oil and gas production in the key producing states of Texas, Louisiana and New Mexico rose in the third quarter of 2026, the Dallas Fed said in a survey on Wednesday, but the now seven-month old Iran war continues to rock energy markets and inject uncertainty into producers' plans. The rise in production comes as US oil prices touch $100 a barrel as the war in Iran spills out across the Middle East and disrupts global supplies, hindering some production in the region as well as keeping key [Read more]
US crude stocks rise, gasoline and distillate inventories fall – EIA
US crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 922,000 barrels to 427.3 million barrels in the week ended September 25, the EIA said, compared with analysts' expectations in a Reuters poll for a 264,000-barrel draw. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 553,000 barrels in the week, the EIA said. Oil futures held onto earlier gains following the report. [Read more]
Oil executives worried over lack of essential element for Venezuela expansion: power
Executives gathered in Caracas this week for the first large energy conference since Washington launched a $100 billion reconstruction effort for Venezuela's oil industry are warning about slow progress to clear the biggest obstacle for their expansion projects: unreliable power. With an unresolved electricity deficit of more than 1,500 megawatts (MW), the OPEC country's long-standing power outages are getting worse as demand recovers, leaving households, shops and factories without power for [Read more]
Trump expected to announce $54 billion South Korea investment in Alaska LNG, sources say
President Donald Trump is expected to announce on Wednesday plans to tap South Korea's pledged $350 billion strategic investment package for about $54 billion to help build a liquefied natural gas facility in Alaska and fund other U.S. projects, according to two people familiar with the discussions. The announcement would be part of a series of economic and investment deals Trump is highlighting ahead of November's midterm elections, as he seeks to reinforce his economic record amid voter [Read more]
Trio Petroleum announces Lloydminster acquisition with Cummings multilateral oil well and workover production growth opportunity
Boca Raton, Florida., Sept. 30, 2026 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: TPET) ("Trio" or the "Company"), today announced the acquisition by its Canadian subsidiary of 24 oil wells, with 4 producing and 20 shut-in heavy-oil assets, from Marlin Resources Ltd. ("Marlin"), an active operator in Saskatchewan's Lloydminster region. The acquisition would combine approximately 37 barrels of oil per day (“BOPD”) of current production with identified existing-well workover upside, [Read more]
What is Alaska LNG and why does the project face doubts?
President Donald Trump could unveil plans as soon as Wednesday to tap South Korea's pledged strategic investment package for about $54 billion to build a liquefied natural gas project in Alaska, as he rolls out a series of economic initiatives ahead of November's midterm elections. WHAT IS THE ALASKA LNG PROJECT? The Alaska LNG project is a proposed $44.5 billion to $54.5 billion development to transport natural gas from Alaska's North Slope in the state's far north through a pipeline to [Read more]
Gulf crude oil exports return to 2025 level, Goldman Sachs says
Goldman Sachs estimates Gulf oil exports, including "dark exports" involving ships operating with their location transponders turned off, have recovered to 23.3 million barrels per day over the last week, in line with their 2025 average, as exports doubled in September, it said in a note on Tuesday. It noted that the recovery was driven by increased exports through the Strait of Hormuz, including via ship-to-ship transfers. * Estimated crude exports accounted for nearly 90% of the [Read more]
How the US controls Iraq’s oil revenues
US forces are set to withdraw on Wednesday from their last bases in Iraq, a departure celebrated as a victory by Iran and its allies, which have deep influence in the country where 4,500 Americans died during more than two decades of war. Still, since its 2003 invasion of Iraq, the US has held effective control of the country's oil revenue dollars, giving Washington extraordinary leverage over Baghdad's affairs, with implications for regional dynamics involving Iran. HOW DOES THE US [Read more]
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