Energy

The Canadian government is under pressure to develop new oil pipelines to reduce reliance on the U.S. market, especially with President Donald Trump threatening tariffs on Canadian oil exports. However, significant regulatory, financial, and political hurdles, along with activist opposition, pose challenges for any new pipeline projects. Key Highlights:Urgency for New Pipelines: Canadian politicians, including […]

On Wednesday, U.S. President Donald Trump announced the revocation of a license that allowed Chevron to operate in Venezuela, a license granted by his predecessor Joe Biden over two years ago. Trump cited the lack of progress on electoral reforms and the return of Venezuelan migrants as reasons for this decision. Key Highlights:Reversal of Concessions: […]

According to Shell’s annual report released on Tuesday, global demand for liquefied natural gas (LNG) is projected to increase by approximately 60% by 2040, primarily fueled by economic growth in Asia, advancements in artificial intelligence, and efforts to reduce emissions in heavy industries and transportation. Key Highlights:Demand Projections: Shell estimates that LNG demand will reach […]

Former President Donald Trump expressed his desire for the construction of the Keystone XL Pipeline, promising streamlined regulatory approvals for the controversial crude oil project, which faced significant opposition from environmentalists and was ultimately halted by the Biden administration. Key Highlights:Project Overview: The $9 billion Keystone XL Pipeline was proposed in 2008 to transport 830,000 […]

Oil prices experienced a rebound on Monday, driven by new U.S. sanctions on Iran and Iraq’s commitment to adhere to OPEC+ production agreements, which heightened concerns about near-term supply tightness. Key Highlights:Price Movements: Brent crude futures increased by 35 cents (0.5%) to settle at $74.78 a barrel.U.S. West Texas Intermediate (WTI) crude rose by 30 […]

BP’s Chief Executive, Murray Auchincloss, is set to announce a significant shift in strategy, scrapping the company’s ambitious target to increase renewable generation capacity 20-fold by 2030. This decision comes as BP seeks to address investor concerns over its earnings performance. Key Highlights:Change in Strategy: BP will abandon its goal of growing renewable generation capacity […]

U.S. Treasury Secretary Scott Bessent hinted on Thursday that Russia could see some easing of U.S. sanctions if it demonstrates a genuine willingness to negotiate an end to the war in Ukraine. In an interview with Bloomberg Television, Bessent suggested that the U.S. is open to adjusting its sanctions policy based on the progress of […]

Kazakhstan has reached an unprecedented level of oil production despite significant damage to its primary export route, the Caspian Pipeline Consortium (CPC), caused by a recent Ukrainian drone attack. Industry sources revealed on Thursday that the country’s oil and gas condensate output surged to approximately 2.12 million barrels per day (bpd) on February 19, citing […]

Chinese refiners are ramping up their purchases of Brazilian and West African crude as they navigate the complexities of sanctions and tariffs affecting global oil supply. This shift comes in response to surging prices of Middle Eastern grades and tougher U.S. sanctions on Russia and Iran. Key Highlights:Increased Imports: China’s crude imports from Brazil are […]

On Wednesday, Russian President Vladimir Putin suggested that a recent drone attack on the Caspian Pipeline Consortium (CPC) pumping station in southern Russia may have been coordinated with Western allies of Ukraine. Key Highlights:Allegations of Coordination: Putin expressed skepticism about Ukraine’s ability to execute such an attack independently, claiming it likely received Western intelligence support.He […]