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According to the Energy Institute’s (EI) latest statistical review of world energy, which was released recently, the world’s top natural gas producer last year was the United States. The U.S. produced 37.19 exajoules of natural gas in 2024, which represented a yearly reduction of 0.3 percent and 25.0 percent of total natural gas output last year, the review outlined. From 2014 to 2024, U.S. production of natural gas has grown by an average rate of 3.9 percent per year, the review showed. U.S. natural gas production came in at 25.37 exajoules in 2014, 26.65 exajoules in 2015, 26.18 exajoules in…

The ORLEN Group said it has ceased all deliveries of Russian crude in its supply chain. The Polish energy company said all of its refineries have been supplied with non-Russian oil since March, with the final contract for Russian oil delivery from Rosneft ending June 30. Earlier, ORLEN terminated all contracts for deliveries to Poland via the Druzhba pipeline and ceased importing Russian oil by sea, the company said in a news release. Since April 2023, all of the crude processed by ORLEN’s Polish and Lithuanian refineries has been sourced from non-Russian sources, the company stated. “We have concluded the…

The OPEC+ producers are expected in August to agree on another superhike in production for September that would complete the unwinding of the 2.2 million barrels per day (bpd) output cuts, Goldman Sachs said after the alliance surprised the market with a larger-than-forecast boost for August.The OPEC+ group is set to unwind the last 550,000 bpd of the 2.2-million-bpd cut in September, the investment bank said in a weekend note.On Saturday, the eight OPEC+ producers withholding supply to the market decided to ramp up oil production more aggressively than anticipated in August.At the virtual meeting Saturday, the eight core members…

When investor Peter Deng worked at OpenAI, he treated building a team like a puzzle. All the right pieces had to be in the right places.”As a leader, you have to set up your team the right way,” Deng, who previously was OpenAI’s VP of consumer product, said on an episode of Lenny’s Podcast. “You have to really think about your team as a product and what are the various pieces you need to really stretch the gamut of what you’re thinking about.”Deng, now a general partner at Felicis Ventures, has previously contributed to a series of well-known features, including…

A moderate increase in demand and a fall in wind and hydro generation that offset a record first quarter (Q1) for solar led to a 17 percent rise in fossil fuel power production in the European Union in the January-March period, the European Commission has said. The 27-member bloc generated 681 terawatt hours (tWh) of electricity in the first quarter (Q1), up 9 tWh from the same three-month period last year, according to the Commission’s quarterly electricity market report. The share of renewables dropped to 41 percent or 282 tWh from 46 percent in Q1 2024, while the share of…

Flash floods in Texas killed at least 82 people over the Fourth of July holiday weekend and left an unknown number of others still missing, including girls attending a summer camp. The devastation along the Guadalupe River, outside of San Antonio, has drawn a massive search effort as officials face questions over their preparedness and the speed of their initial actions. What to know:Death toll expected to rise: Gov. Greg Abbott said Sunday that 41 people were unaccounted for across the state and more could be missing. Camp Mystic says it is “grieving the loss” of 27 campers and counselors…

Daily Light Crude Oil Futures Technical positioning is clear for traders monitoring breakout potential. If prices fail to hold the 200-day moving average at $65.24, the next downside target sits at the June 24 bottom of $64.00, followed by the 50-day moving average at $62.60. On the upside, the long-term pivot at $67.44 is immediate resistance, with last week’s high at $67.58 a key breakout point toward a short-term 50% retracement target at $71.20. Tariff Uncertainty Adds Headwinds Oil also faces external pressure from U.S. tariff concerns. While officials flagged delays on implementation, uncertainty remains over rate changes, raising concerns…

North America added three rigs week on week, according to Baker Hughes’ latest North America rotary rig count, which was released on July 3. Although the U.S. dropped eight rigs week on week, Canada added 11 during the same period, taking the total North America rig count up to 690, comprising 539 rigs from the U.S. and 151 rigs from Canada, Baker Hughes’ latest count outlined. Of the total U.S. rig count of 539, 524 rigs are categorized as land rigs, 13 are categorized as offshore rigs, and two are categorized as inland water rigs. The total U.S. rig count…

A new oil pipeline to Canada’s Pacific coast is highly likely to make it to the federal government’s list of projects of national interest, Canadian Prime Minister Mark Carney told Calgary Herald in an interview published this weekend.“I would think, given the scale of the economic opportunity, the resources we have, the expertise we have, that it is highly, highly likely that we will have an oil pipeline that is a proposal for one of these projects of national interest,” Carney told the publication.A new pipeline out of the top oil-producing province of Alberta to the British Columbia coast and…

CHAPEL HILL, N.C. (AP) — Heavy rain and flooding from the remnants of Tropical Storm Chantal forced dozens of people to flee their homes in central North Carolina, officials said Monday.The Chapel Hill Fire Department and neighboring agencies completed more than 50 water rescues, many of them in areas where floodwaters entered or threatened to enter apartments, officials said. More than 60 people were displaced Sunday and Monday.There were also water rescues at shopping centers, where water flooded businesses and parking lots, officials said. There were no reports of injuries as of Monday morning. Officials warned residents to take care…