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Goldman Sachs analysts issued yet another update to their oil price forecast, reiterating expectations of weaker prices this year and next, on the back of substantial growth in non-OPEC supplyexcluding U.S. shale. In a note, the analysts said oil production growth from non-OPEC ex Russia ex shale top projects will likely accelerate to 1MB/d over the next two years, adding that natural gas liquids production was also set for a rise over the period, thanks to the launch of new projects in Saudi Ar
Net Power, backed by the Rice brothers (of Rice Energy and EQT fame), is on a mission to develop and deploy revolutionary new technology to capture every last molecule of carbon dioxide from natural gas-fired power plants (see Dan Rice Buys Co. that Builds Zero-Carbon Gas-Fired Electric Plants). In April, MDN brought you the news.
With six little words, Elon Musk has relegated the oil industry to a historical footnote. This, despite the oil industry underpinning the workings of the entire world. Compared to solar, oil is small-time, Musk posted on X, delivering a withering verdict on the fossil fuel era. No charts, no caveats. Just a blunt assertion that the sunnot crude oilwill define the future of global energy.
With heavy doses of false statements littered throughout, there is (somehow) new news in a New York Times article appearing on Saturday. The article proclaims, “E.P.A. Wants to Erase Greenhouse Gas Limits on Power Plants.” The Times says it got its hands on internal documents (someone at the EPA needs to be fired) that show.
A quiet frontier in South America is rapidly becoming one of the worlds most volatile energy flashpoints. The disputed region of Essequibo, a sparsely populated expanse administered by Guyana but claimed by Venezuela, has seen tensions simmer for years. But a combination of geopolitical ambition, economic desperation, and energy opportunity is now threatening to tip the standoff into open conflict.
The Baker Hughes U.S. rig count dropped like a rock last week, down 10 rigs to its lowest level since November 2021. It is the first time the count has slumped for four consecutive weeks since 2024. On a happier note, the combined Marcellus/Utica count rose by one rig to 36 active rigs. However, there.
The boss of Enquest has slammed the windfall tax on oil and gas firms as doing irreversible damage to the industry and driving job losses across the sector. Amjad Bseisu, Enquests chief executive, called for the North Sea tax to be scrapped in an operations update on Tuesday after claiming it makes the UK a less attractive place to invest. The UK Energy Profits Levy (EPL) was introduced in May 2022 and applies to oil and gas companies operating in the North Sea.
The uncertainty surrounding the global tariff war is reshaping the landscape of mergers and acquisitions (M&A) within the energy sector. This dynamic environment presents both challenges and opportunities for investors, compelling them to navigate a complex web of trade policies, supply chain disruptions, and geopolitical shifts. The post The Outlook for Energy M&A Amid Global Tariff War appeared first on POWER Magazine.
The uncertainty surrounding the global tariff war is reshaping the landscape of mergers and acquisitions (M&A) within the energy sector. This dynamic environment presents both challenges and opportunities for investors, compelling them to navigate a complex web of trade policies, supply chain disruptions, and geopolitical shifts. The post The Outlook for Energy M&A Amid Global Tariff War appeared first on POWER Magazine.
This week, a private arbitration panel in London began hearing the arguments of U.S. supermajors ExxonMobil and Chevron regarding their rights to one of the worlds most lucrative oil projects. Guyanas Stabroek block has an estimated 11 billion barrels of oil in place discovered so far by the consortium of ExxonMobil, U.S. Hess Corp, and CNOOC of China.
The editors of the Pottsville, PA, Republican Herald newspaper in northeastern Pennsylvania raise an important issue that should be considered in light of the flurry of announced (and rumored) data centers planned for northeastern PA. The editors look forward to the massive economic boom such centers would create. However, as with any industry, there are.
On May 27, the European Union formally approved its 150 billion-euro ($170 billion) scheme to boost defense spending in the bloc. The so-called SAFE (Security Action For Europe) regulation was first proposed in March by the European Commission in response to calls from member states for financial and political support to meet new defense targets pushed by NATO -- and to potentially step in for Ukraine should the United States shift its focus elsewhere.
OPEC+ will press on with its plan to increase its oil production quotas for the month of July, anonymous sources have told Reuterswith the group staying the course despite the low oil price environment. OPEC has long argued that it makes output decisions based on supply and demand expectationsnot oil prices.
Oil is down modestly ahead of this week's Opec+ meetings. today Southern has a positive Q1 number whilst the Chairman of Sound buys more shares. And a detailed year end run down from Prospex. The post Oil price, Southern, Sound, Prospex. And finally… appeared first on Malcy's Blog.
Saudi Aramco, the worlds biggest oil firm, is expected to price later on Tuesday a three-part bond in U.S. dollars as a campaign to raise funds, IFR news service reports. The bond sale is set to be benchmark-sized, which typically means the issue would be of at least $500 million. Saudi Aramco is also reportedly exploring asset sales as a means of increasing the availability of funds to fuel its international expansion and existing operations, according to unnamed sources who spoke to Reuters.
Given the shifting landscape, semiconductor executives could prepare their companies by determining the potential impacts of tariffs and exploring different scenarios to mitigate them.
OPECs second-largest oil producer, Iraq, aims to accelerate solar power development with at least 1,000 small-sized projects over the next three years, a senior government official has said. Solar energy will be an essential part of the national energy mix by 2030, Mazhar Mohammed Salih, advisor to the Iraqi Prime Minister, was quoted as saying by IraqiNews.
Albertas wildfire season is off to a fiery start, with a major blaze near the town of Swan Hills prompting evacuations and temporarily shuttering oil operations. The fireburning out of control and spanning roughly 1,600 hectaresis just 7 km from Swan Hills, forcing the towns 1,200 residents to flee Monday night. Aspenleaf Energy, active in the area, has shut in about 4,000 boepd and evacuated field crews out of precaution.
La reciente reestructura de Pemex Transformacin Industrial refleja simulacin, favoritismos y ms gasto, sin rendicin de cuentas ni mejora en resultados operativos o financieros. El pasado 22 de mayo, Pemex anunci con bombo y platillo una supuesta reestructuracin en su otrora Direccin de Pemex Transformacin Industrial (PTRI), hoy renombrada como Direccin de Procesos Industriales.
Crude oil prices slid further today after a weak start to the week, following reports that OPEC+ was discussing a greater than originally planned production hike for July. These reports have been circulating for a few days now, fueling pessimism among traders and forecasters. At the time of writing, Brent crude was trading at $64.60 per barrel while West Texas Intermediate was at $61.30, after last week both recouped some of their earlier losses on reports about a more or less imminent Israeli s
(Oil Price) –Back in 2017, oil production in the Permian stood at 2.2 million barrels daily. Today, the Permian is producing over 6 million barrels daily, accounting for nearly half of the U.S. total. Predictions of a looming peak have lately multiplied, but according to Wood Mackenzie , the Permian is not done yetnot if prices improve. To be sure, the boom days seem to be over.
Via Metal Miner Chinese mills are churning out steel, aluminum and even refined copper at near-record levels and sending the surplus abroad, a trend steel industry analysts say could pressure industrial metal prices in the United States. After a year of lagging domestic demand, Chinas exports of construction and manufacturing metals have surged, flooding global markets with cheap supply.
(World Oil) –Hot weather sparked a string of wildfires around Alberta over the weekend, including some near oil and gas wells operated byCanadian Natural Resources Ltd.and others. Four out-of-controlfireswere burning in Alberta at 4:15 p.m. Monday, including a 2,000-hectare blaze near Swan Hills. The province issued a notice to the towns residents telling them to prepare to evacuate within an hour if needed.
The shipping industrys target of net-zero carbon emissions has boosted demand for biofuels, which are compatible with existing ship engines and therefore can be adopted relatively easily. However, Rystad Energy analysis shows that the capacity to produce biofuelssuch as biodiesel and bio-liquefied natural gas (bio-LNG)is not keeping up. Unconstrained biodiesel demand exceeds total supply and the outlook for bio-LNG is equally restricted, in both allocation and production.
(Investing) –HOUSTON – A U.S. federal judge has extended to at least June 2 a period for bidders to submit rival bids in a court-organized auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum, according to a filing released on Tuesday. Last month, Delaware judge Leonard Stark approved a $3.7 billion offer by Contrarian Funds affiliate Red Tree Investments as the starting bid in the auction of shares, aimed at compensating 15 creditors for debt defaults and expro
Investments in Norways oil and gas sector are set to hit a record high this year, led by increased investments in operating fields, Statistics Norway said on Tuesday in its latest survey of companies investment plans. The quarterly survey of investment plans showed that total investments in oil and gas activity in Norway in 2025, including pipeline transportation, are estimated at $26.6 billion (269 billion Norwegian crowns), up by 6% compared to the estimates in the previous quarter.
Publisher’s Note: Eni SpA will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown , August 17-20, 2025. Register to attend. (World Oil) –Eni has signed an agreement with Global Infrastructure Partners (GIP), a global infrastructure investor and a part of BlackRock, for exclusive talks to potentially sell 49.99% in its carbon capture, utilization and storage (CCUS) business.
After days of emerging indicators that Saudi Aramco (Aramco), the worlds largest oil company, is considering significant asset sales, the giant has entered the bond market again. This move is crucial as it comes in the wake of slightly disappointing Q1 figures of Aramco, showing a 4.6% decrease in profits, caused by lower sales and higher operating costs.
Type One Energy announced on May 27 that it had successfully completed the first formal design review of Infinity Two, which is based on the worlds only implementable, peer-reviewed physics […] The post Type One Energy Completes Formal Initial Design Review of Fusion Power Plant appeared first on POWER Magazine.
Leading off Armenia: Russian Foreign Minister Sergei Lavrov traveled to Yerevan and pronounced himself satisfied that the visit worked out misunderstandings and suspicions. As a result, Moscow and Yerevan can now have sincere conversations on contentious policy issues, Lavrov indicated. A statement issued by the Armenian Foreign Ministry was somewhat more circumspect, noting that negotiations were very informative and at the same time constructive, covering a wide range of issues.
CALGARY, Alberta (May 27, 2025) Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, has released a report that analyzes how oil and gas operators can harness existing acreage and drilling expertise to advance geothermal power projects. The report highlights which operators are best equipped to succeed across a variety of plays, considering geothermal gradient, levelized cost of energy (LC
Italys industry needs an urgent plan from the government to help reduce the high energy costs, which are higher than in other European countries, the president of the Italian business lobby, Confindustria, said on Tuesday. Our companies continue to incur energy costs that are more than 35% higher than the European average, and even 80% compared to some major industrialized European nations, Emanuele Orsini said at Confindustrias annual meeting.
La falta de pagos a proveedores paraliza pozos, impacta la logstica y deja sin combustible a ciudadanos. Pemex arrastra una crisis que ya es social. En Petrleos Mexicanos (Pemex), los problemas financieros ya no son una cifra ms en los informes contables. Hoy, la falta de liquidez est comenzando a traducirse en una crisis operativa con consecuencias reales para la vida de los ciudadanos.
The OPEC+ group must consider rising oil demand when it makes decisions about production levels, the energy minister of one of OPECs top producers, the United Arab Emirates (UAE), said on Tuesday. The OPEC+ alliance is doing its best to balance the oil market, UAEs Energy Minister Suhail Mohamed Al Mazrouei said at an Abu Dhabi forum today. But it is not enough only this group, we need the help of others, and we need to be mindful of the demand, Al Mazrouei added, as carried by Reuters.
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