Latest news with #oilExports
CTV News
02-06-2025
- Business
- CTV News
Oil pipeline: Legault will not make efforts to attract a private developer
Premier François Legault during question period on May 20, 2025. (The Canadian Press/Jacques Boissinot) Quebec Premier François Legault has no plans to make any special efforts to attract a private developer who might propose a pipeline project. The question of building a pipeline in the name of national unity was on everyone's lips on Monday morning as the premiers' meeting got underway in Saskatchewan. The provincial and territorial premiers are spending the day in Saskatoon at the invitation of Canadian Prime Minister Mark Carney, who wants to discuss projects of 'national interest.' All governments, with the exception of Quebec and British Columbia, have agreed in principle to an oil pipeline to enable oil exports to Asia and Europe. Several scenarios are on the table; Alberta Premier Danielle Smith has indicated that she would prioritize a route connecting British Columbia to Hudson Bay. This route, which does not pass through Quebec, may disappoint some: New Brunswick Premier Susan Holt has reaffirmed that her province is keen to provide a port for oil exports. By Caroline Plante, The Canadian Press This report by The Canadian Press was first published in French June 2, 2025.
Bloomberg
13-05-2025
- Business
- Bloomberg
Trump Says He Wants a Deal With Iran
President Donald Trump says he wants to make a deal with Iran to make the Middle East a safer region. Speaking at an investment summit in Riyadh, Trump said if Iran does not take the offer, he will exert maximum pressure and "drive Iranian oil exports to zero." (Source: Bloomberg)
Trade Arabia
15-02-2025
- Business
- Trade Arabia
GCC crude oil production in 2023 soars to 17mbpd, says report
GCC countries ranked first in global energy indicators and first in crude oil production, crude oil reserves, crude oil exports and natural gas reserves, according to data issued by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat). The GCC-Stat data indicates that the Gulf countries' crude oil production in 2023 logged about 17 million barrels per day (mbpd), which accounted for 23.2% of the total global crude oil production, despite a 6.8% decrease in crude oil production in 2023 compared to the production recorded in 2022. Additionally, the GCC countries ranked second worldwide in natural gas exports and third in marketed natural gas production, it stated. The GCC crude oil reserves in 2023 reached about 511.9 billion barrels, which accounted for 32.6% of the total global crude oil reserves, recording an average annual growth rate of 0.3% during the period from 2014 to 2023. The region's crude oil exports in 2023 logged about 12.4 mbpd, representing 28.2% of the total global crude oil exports, despite a decrease in exports in 2023 by 8.2% compared to the figures recorded in 2022. The GCC Countries' oil derivatives exports in 2023 reached about 1518.6 million barrels, which accounted for 13.4% of global oil derivatives exports, with an increase of 7.1% compared to the figures recorded in 2022. It ranked second globally in oil derivatives exports, while oil derivatives imports reached 212.3 million barrels, with an average annual growth rate of 0.1%. According to GCC-Stat, the gas oil/diesel production recorded the highest rate among petroleum derivatives in 2023, with a quantity of 660.4 million barrels, followed by gasoline with 336.2 million barrels, then kerosene and jet fuel with 319.4 million barrels. Fuel oil, naphtha and petroleum gases recorded production of 263.1, 221.6 and 103.3 million barrels, respectively. Gasoline consumption in the GCC countries in 2023 logged about 336.6 million barrels, while gas oil/diesel consumption reached 299.7 million barrels. The rest of the derivatives witnessed varying quantities between 34.8 and 268.3 million barrels. With regard to natural gas, the GCC countries' reserves in 2023 reached about 44.195 billion cu m, which represent 21.4% of the total global reserves of natural gas, with an increase in reserves of 0.2% compared to the figures recorded in 2022. The GCC countries' natural gas exports in 2023 logged about 180.9 billion cu m, which accounted for 13.1% of the total global natural gas exports, with an average annual growth rate in exports of 2.5% during the period from 2014 to 2023. The GCC countries' production of marketed natural gas in 2023 reached about 464.2 billion cu m, which represented 10.8% of the total global production of marketed natural gas, with an increase of 1.4% compared to the figures recorded in 2022. In renewable energy indicators, the capacity of renewable energy stations in the GCC countries reached about 10,742 megawatts in 2023, recording an increase of 74.7% compared to the figures logged in 2022. The capacity increased, especially in recent years, in light of the Council's implementation of policies related to the use of renewable energy instead of fossil energy. The energy produced by the stations in 2023 reached about 14,403 gigawatt per hour, with an increase of 72.4% compared to the figures recorded in 2022. The GCC countries' electricity production in 2023 reached about 794.9 thousand gigawatt per hour, with an average growth rate of about 4.7% during the period from 2019 to 2023, according to GCC Stat data. These figures logged an increase of 1.2% compared to the figures of 2022, while consumption reached 732.5 gigawatt per hour, with an increase of 1.3% compared to the figures logged in 2022, it added.-
