(Investing) – CALGARY – The future of Canada’s six-year-old carbon pricing system is on shaky ground after 14 oil and gas CEOs and the political opposition leader this week called for its repeal. Scrapping the system, which aims to reduce pollution by giving heavy industry a financial incentive to cut carbon emissions, however, puts the viability of a high-profile carbon capture
(World Oil) – Climate activist Follow This is calling for investors in bp Plc to vote against the reappointment of Chairman Helge Lund at next month’s annual general meeting, in a public rebuke to the company’s recent pivot back toward oil and gas. Follow This has a history of pressuring bp to do more to tackle global warming, backing an
This week’s Baker Hughes Rig Count shows that the U.S. increased by 1 over last week, resulting in a total count of 593 rigs. Canada had a decrease of 19 over last week, resulting in a total Canadian count of 180 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Ardmore Woodford, and the Arkoma Woodford regions
(Investing) – LONDON -Oil prices fell slightly on Friday but were heading for a second consecutive weekly gain as fresh U.S. sanctions on Iran and the latest output plan from the OPEC+ producer group raised expectations of tighter supply. Brent crude futures were down 23 cents, or 0.3%, at $71.77 a barrel by 1300 GMT. U.S. West Texas Intermediate crude futures fell
(Oil Price) – President Donald Trump is considering extending Chevron’s sanction waiver for Venezuela, which he earlier this year refused to do, letting the waiver lapse, the Wall Street Journal has reported, citing unnamed sources familiar with developments. Per the report, the possibility of extending the waiver arose during Trump’s meeting with oil and gas executives in the White House on Wednesday.
(BOE Report) – Greenpeace must pay a Texas-based pipeline company nearly $667 million in damages for the environmental advocacy group’s role in 2016-2017 protests against the Dakota Access Pipeline in North Dakota, a jury said Wednesday. The verdict in North Dakota state court came after two days of deliberations in a trial where pipeline company Energy Transfer accused Greenpeace of
(Investing) – The Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced sanctions against a teapot oil refinery and its CEO for purchasing and refining Iranian crude oil worth hundreds of millions of dollars. The oil was sourced from vessels linked to Ansarallah, a Foreign Terrorist Organization, and the Iranian Ministry of Defense of Armed Forces Logistics (MODAFL). The refinery,
(World Oil) – In its March 2025 Short-Term Energy Outlook, the U.S. Energy Information Administration (EIA) forecast crude oil production in Alaska will increase by 16,000 barrels per day (bpd) in 2026 to 438,000 bpd after remaining relatively flat in 2025. Two new oil developments in Alaska — the Nuna and Pikka projects — are expected to boost crude oil
(Oil Price) – The tariff wars and high spare capacity, mostly from the OPEC+ producers, are skewing the oil price risk to the downside in the medium term, according to Goldman Sachs. “While we reduced our Brent forecast range by $5/bbl to $65-80, we expect oil prices to edge up in coming months, and think that market pricing of volatility and
(Oil & Gas 360) – While prices show bearishness high, activity continues showing UP is the direction we head needing more oil & natural gas, and a drilling boom. Worries about tariffs and that a recession is where we head is dropping stock and other prices. Uncertainty increasing helped by tariff and Government Shut-Down fears has the NASDAQ down at 17,303.01
(BOE Report) – Vladimir Putin has edged closer to his goal of repairing Russia’s relations with the United States and driving a wedge between the U.S. and Europe, while offering only a slim contribution towards Donald Trump’s peace efforts in Ukraine. Before Tuesday’s long phone call between the two presidents, the U.S. side had said it would seek Russia’s agreement
Weekly Crude Oil Storage as of March 14, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.7 million barrels from the previous week. At 437.0 million barrels, U.S. crude oil inventories are 5% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
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