Tag Archives: Oil Price

Canada’s Liberal government on Tuesday proposed a C$2 billion ($1.4 billion) sovereign fund for critical minerals, alongside hundreds of millions in new mining industry spending and an expansion of exploration tax credits, according to the federal budget released on April 1. The initiative aims to bolster domestic supply chains, attract …

Japanese power company J-Power has announced plans to close two units at a thermal coal power plant by the end of fiscal 2028 as part of its commitment to reduce emissions and achieve carbon neutrality by 2050. J-Power will retire Units 1 and 2 at the Takasago Thermal Power Station …

Saudi Aramco booked a net profit of $28 billion for the third quarter of the year, thanks to its oil production boost as OPEC+ unwound its voluntary output cuts. The company also reported free cash flow of $23.6 billion and cash flow from operating activities of $36.1 billion. Base dividend …

Italy’s energy giant Eni and Malaysian state oil and gas firm Petronas are combining their upstream assets in Indonesia and Malaysia in a new, equally-owned joint venture, the Italian company said on Monday. The newly-created joint venture, which will operate as a separate self-sufficient financial entity, plans to invest $15 …

Sanctioned LNG vessels carrying liquefied natural gas from Russia’s sanctioned Arctic LNG 2 project are running into early winter ice on the Northern Sea Route and deliveries to China from the Russian export plant could drop off as temperatures in the Arctic plummet. The Buran vessel, which offloaded a cargo …

Power generation in India plunged by 6% in October from a year earlier – the sharpest drop since the Covid lockdowns in 2020 – as lower industrial demand due to holidays and unusually rainy weather dampened consumption, according to a Reuters analysis of government data. Total power generation fell to …

Morgan Stanley raised its price forecast for Brent crude for 2026 to $60 per barrel from $57.50 following OPEC+’s decision to pause production hikes over the first three months of next year. This was the first oil price forecast revision after the Sunday meeting of the oil-producing group, which also …

Chinese refiners are canceling Russian oil cargos and adopting a wait-and-see attitude after the latest U.S. sanctions on Russia’s oil industry. Bloomberg reports, citing traders, that state-owned majors including Sinopec and PetroChina had canceled previously ordered Russian oil cargos, while the so-called teapots, or independent refiners, had stopped buying Russian …

The United States is looking to develop new rare earth minerals supply chains to reduce China’s dominance of the sector. In October, President Donald Trump and Australian Prime Minister Anthony Albanese met at the White House to sign an agreement for the strengthening of the critical minerals and rare earths …

U.S.-Venezuela tensions are again rippling through energy and security markets, prompting President Donald Trump to rule out immediate military strikes while maintaining a buildup of American naval assets in the Caribbean. His comments followed reports of U.S. patrols and maritime interdictions targeting narcotics routes linked to Caracas, a campaign that …