Canada is expected to continue growing as an oil power in the coming years as the Alberta government signs new expansion deals, a new tanker terminal is opened in Vancouver, and Prime Minister Justin Trudeau resigns.
Shell has launched production from its Whale floating production facility in the US Gulf of Mexico, the company said on Thursday.
Malaysia’s national oil and gas company announced Thursday a positive final investment decision (FID) on the Hidayah field, part of the North Madura II Production Sharing Contract (PSC) in the waters of East Java province, Indonesia.
Clean energy and industrial gas company Chart Industries has signed a global master goods and services agreement with ExxonMobil, Chart Industries announced on Wednesday.
The pace of sales for February-loading Angolan oil is faster than the last couple of months, with only 20-30 percent of next month’s supplies still seeking buyers.
Porsche is offering a $15,000 match on top of $7,500 in lease incentives to clear out 2024 Taycan models, yet iSeeCars research finds the model the most expensive alternative fuel vehicle to drive based on miles used per year. Porsche’s increased use of discounting and rapid deterioration in its core China market has slashed more than $30 billion from its market cap since April, and has reduced risk views below luxury rivals Ferrari, BMW and Mercedes for the first time since its IPO in 2022.
The S&P 500 closed out 2024 with a total return of 23.3%, building on its 24.2% gain in 2023. Despite a weaker finish to the year, the index notched 57 record closes, fueled by optimism around artificial intelligence (AI) and the Federal Reserve’s interest rate cuts. Every sector in the index posted gains for the year, but seven of the eleven sectors underperformed the broader benchmark, while five delivered returns of at least 20%.
While ADNOC has yet to significantly expand its international upstream asset portfolio, its downstream acquisitions and investments in drilling and shipping are positioning the company as a strong competitor to global energy giants. With initiatives like XRG and strategic collaborations, ADNOC is solidifying its presence on the global stage.
This week, oil has been trending higher already on signs of a tighter market and an American Petroleum Institute inventory report that saw crude oil stocks shedding a sizable 4 million barrels in the first week of January. The API also estimated another round of hefty inventory builds in fuels.
With European inventories depleting fast and now sitting below the five-year average for this point during the winter season, Europe will need to boost overseas supply not only for this winter’s consumption, but also in the spring and summer, to fill up storage sites ahead of the 2025/2026 winter.