Downstream

(Reuters) – Investors have remained resolutely bearish about the outlook for petroleum prices despite increasing confidence the U.S. Federal Reserve will cut interest rates to stimulate consumer and business spending. Fund managers reverting to selling oil futures and options last week as the short-covering rally the week before rapidly ran out of momentum and negative […]

(Reuters) – CNPC, Asia’s top oil producer, is reviewing its global strategy as it looks to revive dealmaking, eyeing gas liquefaction and deepsea drilling as well as building on its record of producing more from aging wells, the head of its research arm said. China National Petroleum Corp (CNPC) and its listed arm PetroChina face

Goldman Sachs cut its average 2025 Brent forecast and range for prices by $5 per barrel saying unexpected increases in oil inventories and slow China demand is likely to weigh on the market. The bank reduced its range for Brent prices to $70-$85 a barrel, and 2025 average Brent forecast to $77 per barrel from

(Reuters) – Oil prices slipped slightly on Tuesday after rebounding more than 7% over the previous three sessions on supply concerns prompted by fears of widening Middle East conflict and potential shutdown of Libyan oil fields. Brent crude futures were down 30 cents, or 0.4%, at $81.13 a barrel by 0819 GMT. U.S. West Texas

(Reuters) – The Panama Canal expects to be ready to combat a possible new drought, which could hit the world’s second-largest waterway within four years, by accommodating larger vessels, securing dedicated passage for some ships and expanding its water reservoirs’ capacity, its chief, Ricaurte Vasquez, said on Monday. The canal authority has announced a return

(Reuters) – Oil major Shell on Monday said it plans to shut-in different portions of its Zydeco pipeline system for maintenance for three to four days starting Sept 24. The Zydeco pipeline system, which spans over 350 miles and has a mainline capacity of about 375,000 barrels per day, has four segment and ships crude

(Reuters Aug 26) – Facebook owner Meta Platforms struck a deal to buy geothermal power from Sage Geosystems to supply its U.S. data centers, it said on Monday, as it races to build out the infrastructure to support its massive investments in energy-hungry artificial intelligence. The first phase of the 150-megawatt project should be operational

(Reuters) – U.S. natural gas futures fell about 3% to a three-week low on Monday on forecasts for lower demand next week than previously expected. Energy analysts also noted the tremendous oversupply of gas still in storage has kept a lid on gas prices all year. There was still about 12% more gas in storage

By Bruno Venditti Top Countries by Fossil Fuel Consumption in 2023 This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources. Fossil fuel consumption reached new record highs in 2023, driven by increased coal and oil use

Exxon Mobil said on Monday it expects crude demand to stay above 100 million barrels per day (bpd) through 2050, similar to today’s levels, a forecast 25% higher than top European rival BP. The stronger demand projected by the largest U.S. oil company in its latest global oil outlook underpins Exxon’s production growth plans, the most