Canada’s major oil sands producers are boosting crude production even if they aren’t starting up new projects. The secret sauce appears to be reducing maintenance times and extending maintenance cycles to squeeze more oil and raise efficiencies, Bloomberg reports. Suncor Energy, for example, completed ahead of schedule a multi-year effort to replace eight coke drums at its Base Plant, extending the life of the facility’s Upgrader 1 by about 30 years. “Everything went flawlessly, resulting in the project being completed safely,…

The Trump administration is poised to introduce new rules that could make it more challenging for renewable energy companies to claim federal tax credits, potentially slowing the development of wind and solar projects across the United States. The Treasury Department is expected to revise the definition of what constitutes "under construction" for these projects, a critical factor for qualifying for subsidies. This action follows a directive from U.S. President Donald Trump, issued in July, to review the existing regulations. The…

Major data center operator Equinix (EQIX.O) has announced a series of agreements to secure advanced nuclear electricity, including power purchase agreements and a pre-order for microreactors, to fuel its data centers. The move comes as the growing energy demands of data centers, driven by technologies like generative artificial intelligence (AI), raise concerns about global power supplies. According to a company statement, the agreements are part of Equinix's long-term strategy to ensure a stable and sustainable electricity supply for its global…

Just two days ahead of a summit with President Vladimir Putin, US President Donald Trump has warned Russia of "very severe consequences" if it doesn't halt its war against Ukraine. Trump gave no details on what consequences Moscow could face if it doesn't put an end to more than 3 1/2 years of war in Ukraine, but he spoke on August 13 shortly after being urged by several European leaders and Ukrainian President Volodymyr Zelenskyy to protect fundamental European and Ukrainian security interests. "The aim is to end the war," he said of what he hopes…

The oil price structure has started to slowly shift as prompt futures premiums are softening compared to later-dated contracts, signaling that the market believes supply would be plentiful as soon as peak summer travel season ends.  The rise in supply from OPEC+ producers, as well as from Latin America and Europe, has eased the backwardation in the oil market in recent weeks, analysts and traders told Reuters on Thursday.   The backwardation structure in oil prices typically occurs when supply is tight, and in it, prices for front-month…

The owner of British Gas, Centrica, has partnered with investment firm Energy Capital Partners LLP to buy the UK’s largest LNG import terminal at the Isle of Grain for an enterprise value of $2 billion (£1.5 billion).  Centrica and Energy Capital Partners are buying the Isle of Grain terminal, known as Grain LNG, from National Grid, the UK energy firm said on Thursday.   Part-owning Grain LNG is in line with Centrica’s strategy of investing in critical energy infrastructure assets, aligned to the energy transition…

The owner of British Gas, Centrica, has partnered with investment firm Energy Capital Partners LLP to buy the UK’s largest LNG import terminal at the Isle of Grain for an enterprise value of $2 billion (£1.5 billion).  Centrica and Energy Capital Partners are buying the Isle of Grain terminal, known as Grain LNG, from National Grid, the UK energy firm said on Thursday.   Part-owning Grain LNG is in line with Centrica’s strategy of investing in critical energy infrastructure assets, aligned to the energy transition…

During earnings season for the first quarter of the year, the message of the U.S. energy industry to the world was “Peak shale is here.” Now, three months later, the message has changed. Now, shale drillers are signaling there is still space to grow, so those expecting a decline after the peak will have to wait a bit longer. “We believe we are at a tipping point for U.S. oil production at current commodity prices,” said Travis Stice, chief executive of Diamondback Energy back in May in a letter to shareholders. “The…

Western governments have recognized the need to intervene and safeguard their existing critical minerals supply chain from extinction in a market heavily dominated by China.   Even more efforts will be needed in the West to establish new manufacturing capacities and ensure that production is at prices higher than those in China.  The U.S., Australia, and the EU have made the first steps to ensuring non-Chinese supply of critical minerals and rare earths—from bailouts in Australia to a direct government investment in companies…

Long-suffering U.S. motorists are set to finally enjoy some reprieve at the pump, with indications that gas prices could decline to multi-year lows. U.S. gasoline prices appear poised to fall below $3 a gallon this summer, a level they last sank to more than four years ago, thanks to surging imports filling inventories at a time when bad weather events are dampening fuel demand. According to AAA data, the national average price of gasoline fell to 3.15 per gallon, the lowest level recorded during summer months over the past four years. Average…

Private Indian refiner Nayara Energy is scrambling to adjust after being placed under EU sanctions on July 20 as part of Brussels’ 18th sanctions package. These measures, tied to Rosneft owning a 49% stake in the company, prompted CEO Alessandro Dorides (an Italian national) to resign, with Russian-born Sergey Denisov stepping in as his replacement – a leadership change as a direct result of the sanctions. The centrepiece of Nayara’s operations is the 400,000 b/d Vadinar refinery in northwest India, the country’s second-largest…

No commodity likes a hot summer like natural gas, when used to air-condition homes and businesses. Unfortunately for natural gas bulls, despite a hot next few days, milder weather forecasts for the second half of August, combined with robust storage levels and output, pushed US natural gas futures below $2.90 per MMBtu, Tuesday, their lowest level since November 2024. US natural gas futures. Source: Trading Economics According to Trading Economics, output in the Lower 48 states averaged 108.3 billion cubic feet per day (bcfd) so far in August,…

Erbil and Baghdad say they’ve once again cracked the code on resuming Kurdistan’s long-stalled oil exports — at least on paper. The Kurdistan Region’s natural resources ministry announced Wednesday that 23 delegates, including 17 from Iraq’s oil ministry, have signed off on a new export protocol. Under the deal, KRG will keep 50,000 barrels per day for domestic use, hand the rest to SOMO, and everyone will smile politely while pretending this time will be different. The hitch? Baghdad still needs to convince Turkey…

Erbil and Baghdad say they’ve once again cracked the code on resuming Kurdistan’s long-stalled oil exports — at least on paper. The Kurdistan Region’s natural resources ministry announced Wednesday that 23 delegates, including 17 from Iraq’s oil ministry, have signed off on a new export protocol. Under the deal, KRG will keep 50,000 barrels per day for domestic use, hand the rest to SOMO, and everyone will smile politely while pretending this time will be different. The hitch? Baghdad still needs to convince Turkey…

Countries in the Caucasus and Central Asia are among the most digitally connected in the world, a recent survey by the International Telecommunications Union. The organization’s 2025 Information and Communication Technologies Development Index shows that the Commonwealth of Independent States as a region lags only slightly behind Europe in terms of “universal and meaningful connectivity.” Broadly speaking, the report shows a steady advance in digital connectivity around the world. “The 2025 results show continued global…

The Rare Earths MMI (Monthly Metals Index) moved sideways, rising a modest 0.37%. Overall, the global rare earth metals market has seen a whirlwind of developments in the past few weeks, sending ripples through both supply chains and pricing. A series of U.S. and Chinese policy moves, from Washington’s unprecedented price support for rare earth magnets to Beijing’s export curbs, continue to reshape this critical sector. U.S. Sets New Rare Earth Price Floor to Challenge China’s Dominance The United States recently escalated…

Ukraine says it has struck a critical oil-pumping station in Russia’s Bryansk region, igniting a large fire at a hub feeding the Druzhba pipeline to Europe. The Unecha facility also links to the Baltic Pipeline System-2, which carries Russian crude to Ust-Luga, the country’s second-largest Baltic oil port. Kyiv’s General Staff reported explosions in both storage and pump areas. Bryansk governor Alexander Bogomaz blamed Ukrainian rockets and drones, calling the strike a “terrorist act,” but said the fire was contained.…

Ukraine says it has struck a critical oil-pumping station in Russia’s Bryansk region, igniting a large fire at a hub feeding the Druzhba pipeline to Europe. The Unecha facility also links to the Baltic Pipeline System-2, which carries Russian crude to Ust-Luga, the country’s second-largest Baltic oil port. Kyiv’s General Staff reported explosions in both storage and pump areas. Bryansk governor Alexander Bogomaz blamed Ukrainian rockets and drones, calling the strike a “terrorist act,” but said the fire was contained.…

Shipments of refined petroleum products out of Russia declined by 6.6% in July from the previous month, Reuters estimates showed on Wednesday, as domestic demand rose and capacity under planned maintenance increased.   Russian seaborne fuel exports fell to 8.67 million metric tons last month, with shipments from the Baltic ports, the Black Sea and Sea of Azov ports, and the Arctic Murmansk and Arkhangelsk ports all down in July compared to June.    Only the fuel shipments from the Far Eastern ports rose in July from a month…

As part of a major push toward nuclear power generation, India is considering ending the state monopoly in uranium fuel procurement for nuclear power plants by allowing private companies to mine, process, and import uranium, government sources told Reuters on Wednesday.  Even if the government moves to allow private companies to mine and process uranium, the state will maintain its control over the reprocessing of spent uranium fuel and managing of plutonium waste, as is the global practice in these cases, according to Reuters’ sources.  …