Author: intent

Goldman Sachs: Brent Crude Could Hit $93 if Sanctions Hit Iranian, Russian Oil

Oil & Gas‚ Oil and Gas Industry | intent | February 3, 2025 | Comment off

Goldman Sachs analysts predict Brent crude prices could temporarily surge to $93 per barrel if sanctions successfully curb oil exports from Iran and Russia by a combined 1 million barrels per day (bpd). In a note shared by Zerohedge on X, the bank outlined a scenario where Iran faces persistent supply disruptions while Russia experiences temporary setbacks, tightening global crude markets. With geopolitical tensions already pressuring supply chains, traders are watching for any policy shifts that could exacerbate the squeeze.

Trump Envoy Pressures Maduro as U.S. Weighs Cutting Venezuelan Crude

Oil & Gas‚ Oil and Gas Industry | intent | February 3, 2025 | Comment off

Venezuela boasts the largest proven oil reserves in the world, and US refiners are chewing through Venezuela’s heavy crude at an increasing pace, reaching a six-year high in December to 300,000 bpd. Venezuela’s oil is critical for US refiners such as Chevron and Valero.

Hess Doubles Guyana Oil Output

Uncategorized | intent | January 31, 2025 | Comment off

Hess Corp. grew its net oil production in Guyana by 52 percent to 195,000 barrels per day (bpd) in the fourth quarter of 2024 compared to the same three-month period in the prior year, according to quarterly results it released Wednesday. The New York City-based company’s net production in the United States’ Bakken shale also […]

USA Crude Oil Inventories Increase WoW

Oil & Gas‚ Oil and Gas Industry | intent | January 31, 2025 | Comment off

The report, which was released on January 29 and included data for the week ending January 24, showed that crude oil stocks, not including the SPR, stood at 415.1 million barrels on January 24, 411.7 million barrels on January 17, and 421.9 million barrels on January 26, 2024. The EIA report highlighted that data may not add up to totals due to independent rounding.

Shell, Thebe Near $1B South Africa Oil Asset Sales Pact

Oil & Gas‚ Oil and Gas Industry | intent | January 31, 2025 | Comment off

The dispute arose in 2022, when Thebe wanted to exit its stake and the parties couldn’t settle on the value of the holding. They are now close to agreeing on ending the impasse, said the people, who asked to remain unidentified because the information is private.

Oil Futures Spike Then Fade as Trump Weighs Tariffs on Crude

Oil & Gas‚ Oil and Gas Industry | intent | January 31, 2025 | Comment off

West Texas Intermediate futures spiked as much as 1.5% from their settlement price after Trump made the comments to reporters at the White House. The gain just as quickly evaporated after he said he will decide later tonight on whether to include oil in the tariffs. WTI traded at $73.06 a barrel at 4:10 p.m. in New York.

UK Sets Goal to Cut CO2 Emissions by 81 Percent by 2035

Oil & Gas‚ Oil and Gas Industry | intent | January 31, 2025 | Comment off

The government fleshed out the goal Prime Minister Keir Starmer announced at the COP29 summit in November, touting its credentials as the first Group-of-Seven country to phase out coal, its phaseout of new cars relying solely on the combustion engine by 2030 and its policy of not issuing new oil and gas exploration licenses.

MTR Carbon Capture Bags Contract from TSMC

Oil & Gas‚ Oil and Gas Industry | intent | January 31, 2025 | Comment off

MTR Carbon Capture said in a media release it will install its Polaris membrane carbon capture system at TSMC’s Taichung Zero-Waste Manufacturing Center by the end of 2025. This project will showcase the effectiveness of MTR’s clean membrane capture technology by reducing carbon emissions from TSMC operations, it said.

Refining Giant Valero Tops Q4 Estimates Despite Earnings Slump

Oil & Gas‚ Oil and Gas Industry | intent | January 31, 2025 | Comment off

Resilient refining throughput and increased earnings in the renewable diesel division helped Valero post an earnings beat for Q4, even as its adjusted earnings per share plunged to $0.64 from $3.57 EPS for the same period of 2023.

Net Zero Needs $5.6 Trillion Annual Investment, But It’s Not Getting It

Oil & Gas‚ Oil and Gas Industry | intent | January 31, 2025 | Comment off

Global investments in green energy solutions topped $2 trillion last year, for the first time ever, but the world needs to pour in $5.6 trillion each year into low-carbon energy to get on track for global net zero by 2050, in line with the Paris Agreement, BloombergNEF said in a new report on Thursday.

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