Energy

Unipetrol, a refining unit of Polish refiner Orlen PKN, has reported delays in Russian oil deliveries to the Czech Republic via the Druzhba pipeline. This comes as EU diplomats are in discussions regarding the future of exemptions that allow the Czech Republic to import products derived from Russian crude oil. Key Highlights:Delivery Delays: Unipetrol confirmed […]

Shell is scaling back its investments in new offshore wind projects and restructuring its power division following a comprehensive review aimed at enhancing profitability under CEO Wael Sawan. This strategic shift reflects a broader trend among major energy companies to prioritize higher-return activities, particularly in oil and gas. Key Highlights:Offshore Wind Strategy: Shell will not […]

U.S. liquefied natural gas (LNG) exports to Europe experienced a significant increase in November, driven by higher prices and a strategic pivot away from Asia and Latin America. Preliminary data from financial firm LSEG indicates that the U.S. solidified its position as the world’s largest LNG exporter during this period. Key Highlights:Surge in Exports: U.S. […]

OPEC+ is anticipated to extend its current oil output cuts through the end of the first quarter during its upcoming meeting on Thursday, according to four sources familiar with the discussions. This move aims to bolster support for the oil market amid ongoing challenges. Key Highlights:Output Cut Extension: Sources indicate that OPEC+ is likely to […]

Oil prices experienced a decline on Friday, resulting in a weekly loss of over 3%. This drop was driven by reduced concerns over supply risks stemming from the Israel-Hezbollah conflict and the anticipation of increased supply in 2025, despite expectations that OPEC+ will extend output cuts. Key Highlights:Price Movements: Brent crude fell by 34 cents […]

U.S. crude oil production experienced a significant drop in September, falling by 157,000 barrels per day (bpd) to 13.20 million bpd. This decrease marks the largest decline since January, as reported by the U.S. Energy Information Administration (EIA) on Friday. Key Highlights:Production Decline: The month-over-month decline in U.S. crude oil output was primarily attributed to […]

In light of President-elect Donald Trump’s recent threat to impose a 25% tariff on imports from Canada, Canadian officials are emphasizing the need to communicate the interconnectedness of U.S. and Canadian energy markets. Natural Resources Minister Jonathan Wilkinson highlighted this necessity in a phone interview with Reuters. Key Highlights:Tariff Concerns: Trump announced his intention to […]

OPEC+ is contemplating a delay in its planned oil output increase set for January, potentially pushing it back to the first quarter of 2025, according to sources cited by Reuters. The group will hold further discussions on this and other options during its postponed policy meeting on December 5. Key Highlights:Output Hike Postponement: The proposed […]

The FBI is investigating a longtime consultant for Exxon Mobil regarding his alleged involvement in a hack-and-leak operation that targeted environmental activists and critics of the oil company. This operation reportedly involved mercenary hackers who accessed the email accounts of numerous individuals opposed to Exxon’s practices. Key Highlights:Origins of the Operation: The hacking scheme is […]

U.S. gasoline inventories saw an unexpected increase last week before the Thanksgiving holiday, while crude oil stockpiles decreased more than analysts anticipated, according to the Energy Information Administration (EIA). Key Highlights:Gasoline Inventory Build: Gasoline stocks rose by 3.3 million barrels to 212.2 million barrels for the week ending November 22, contrary to analysts’ expectations of […]