Downstream

Oil Bears Focus on Lacklustre Demand and Planned Output Boost: Kemp

(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 […]

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Once-Acquisitive Chinese Oil Giant Looks to Revive Global Dealmaking

(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

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Panama Canal Expects to be Ready for Next Drought, Authority Says

(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

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Meta Platforms Strikes Geothermal Energy Deal to Power US Data Centers

(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

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INFOGRAPHIC: Top Countries by Fossil Fuel Consumption in 2023 – Visual Capitalist

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

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Exxon Forecasts 2050 Oil Demand to Still Match today’s, 25% above BP estimate

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

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