LATEST ENERGY NEWS

The United States plans to intercept more vessels carrying Venezuelan oil after seizing a tanker this week, as it steps up pressure on Venezuelan President Nicolas Maduro.

The industrial sector will be the largest contributor to natural gas demand growth in next five years.

This contrasts with the view of the IEA, which earlier on Thursday implied global oil supply will exceed demand by almost 3.84 million bpd - an amount equal to almost 4% of world demand - next year.

He noted that expanding domestic gas output remains a central priority for the company.

As a result, the expansion was delivered two months ahead of schedule, marking the fifth early startup for bp in 2025.

The Kazakh energy ministry said the Ukrainian attack had not led to a complete export halt.

The subsea system will connect six wells to a floating production unit for natural gas extraction.

Both benchmark oil contracts had extended gains to about 1% since settlement.

Eni believes total output from multiple pools could reach 80 mmscf/d of gas and around 1,600 bbl/d of condensate.

The agency anticipates that rising output and weaker winter demand will accelerate inventory accumulation, contributing to further price declines in the coming months.

Prices for Southern Green Canyon, a crude oil grade produced in the region, strengthened 40 cents on Tuesday to a discount of $2.45 to U.S. West Texas Intermediate crude.