The White House has ordered US military forces around Venezuela to ’quarantine’ Venezuelan oil for at least the next two months, just as the US Coast Guard lamented that it lacks forces to enforce a full blockade after a botched seizure of Bella 1.
Geopolitics Lifts Oil Prices in Thin Holiday Trading
The festive Christmas lull in oil trading saw oil prices post a weekly...
The festive Christmas lull in oil trading saw oil prices post a weekly gain as geopolitical tensions helped push ICE Brent above the $62 per barrel mark. Venezuela and the potential choking of its heavy crude production remains the No. 1 topic, but the U.S. strikes on Nigeria could open up a new front of bullishness.
Senators probing data center impact on power bills
A trio of Democratic senators is examining whether the rapid expansion...
A trio of Democratic senators is examining whether the rapid expansion of AI-focused data centers is contributing to higher residential electricity bills by shifting grid upgrade costs onto households. Elizabeth Warren of Massachusetts, Chris Van Hollen of Maryland and Richard Blumenthal of Connecticut believe utilities may be spreading infrastructure expenses across all customers as energy use from AI is set to climb sharply. The probe comes amid debate over how much large technology firms should pay for the energy systems they rely on.
ExxonMobil using stackable technologies to boost oil recovery
ExxonMobil is deploying stackable technologies in its Permian Basin operations,...
ExxonMobil is deploying stackable technologies in its Permian Basin operations, rather than relying on a single innovation. The company is integrating more than 40 proprietary technologies, including petcoke proppant and advanced data analytics for well-spacing optimization, to cumulatively improve efficiency and resource recovery. This approach, which extends from the wellhead through refining and chemical processing, aims to double resource recovery rates and significantly reduce costs.
Global liquefied natural gas supply is expanding faster than the fleet...
Global liquefied natural gas supply is expanding faster than the fleet of vessels needed to transport it. International Maritime Organization data show 234 newbuilds scheduled for delivery from 2026 to 2030, a total that falls short of the 229 million tons per year of new export capacity expected by 2030. Faster scrapping of older ships and new LNG project investment decisions could further tighten shipping capacity.
