Oil and Gas
OPEC+ oil output delay a ‘reality check’ as group eyes demand, U.S. outlook, Saudi energy min says
The OPEC+ “precautionary” decision to postpone crude production hikes until after the first quarter bides the group time to assess developments in global demand, European growth and the U.S. economy, according to the coalition’s chair, Saudi Energy Minister Abdulaziz bin Salman. On Thursday, the oil producers’ alliance agreed to extend several output cuts, with the […]
Read More
BP seeks buyers for U.S. natural gas pipeline system stake, Reuters reports
Signage is displayed on an oil storage tank at the BP-Husky Toledo Refinery in Oregon, Ohio, U.S Luke Sharrett | Bloomberg | Getty Images BP is seeking buyers for a stake in its U.S. natural gas pipeline network, four people with knowledge of the matter said. The British energy company could raise up to $3 […]
Read More
OPEC+ members to delay oil production increases
A view shows the logo of Organization of the Petroleum Exporting Countries (OPEC) during the United Nations climate change conference COP29, in Baku, Azerbaijan November 13, 2024. Maxim Shemetov | Reuters The OPEC+ oil producers’ alliance has postponed plans to unwind several formal and voluntary crude production cuts into 2026 amid a lukewarm outlook for […]
Read More
Shell and Equinor to create Britain’s largest independent oil and gas company in joint venture
The Equinor ASA offshore oil drilling platform on Johan Sverdrup oil field in the North Sea off the coast of Norway, on Monday, Feb. 13, 2023. Bloomberg | Bloomberg | Getty Images Oil major Shell and Norway’s Equinor on Thursday announced plans to combine their British offshore oil and gas assets to create a jointly […]
Read More
Britain forecast to reach peak gasoline this year in landmark moment for electric vehicles
The battery of an electric car is recharged at a roadside charging station on January 09, 2024 in London, England. Leon Neal | Getty Images News | Getty Images Britain is forecast to hit “peak petrol” in 2024, according to a new report, with electric vehicles (EVs) on track to assume a much bigger share […]
Read More
‘Realistic’ green policies good for the U.S., Aramco CEO says, with Trump to return to White House
Amin Nasser, CEO of Saudi Aramco, speaks at the 2024 CERAWeek by S&P Global conference in Houston, Texas, on March 18, 2024. F. Carter Smith | Bloomberg | Getty Images “Realistic” green transition standards will benefit the U.S. energy industry, the CEO of the world’s largest oil producer said Tuesday, as the White House prepares […]
Read More
OPEC+ postpones meeting to decide oil production strategy to Dec. 5, delegates say
A view shows the logo of Organization of the Petroleum Exporting Countries (OPEC) during the United Nations climate change conference COP29, in Baku, Azerbaijan November 13, 2024. Maxim Shemetov | Reuters The OPEC+ oil alliance has postponed a meeting to decide the next steps of its crude production strategy to Dec. 5, two delegate sources […]
Read More
Oil watchers say inflation risks will stave off Trump’s Canada tariff threat
Working oil pumps against a sunset sky. Imaginima | E+ | Getty Images Higher fuel prices could be in the cards if President-elect Donald Trump follows through with his tariff threats on Canada, according to industry experts, who are skeptical on whether the new levies will ever be implemented. Trump on Monday pledged to implement […]
Read More
Low gas prices are driving holiday travel sentiment, says GasBuddy’s Patrick De Haan
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Patrick De Haan, GasBuddy head of petroleum analysis, joins ‘Squawk Box’ to discuss gas prices around the holiday season, the change in sentiment from last year, and much more. Source
Read More
Can Saudi Arabia keep pace with its ambitious mega-project spending spree?
Digital render of NEOM’s The Line project in Saudi Arabia The Line, NEOM In Saudi Arabia’s northwestern desert, a sprawling construction site replete with cranes and pile drivers sits encircled by a recently-built road. A pair of tracks cuts through the site like deep gashes through the sand, comprising the spine of what planners say […]
Read More