(Reuters) – Renewed Ukrainian drone attacks on Russian oil refineries since late October have reduced Russia’s oil refining capacity by about 30%, two industry sources said. Ukraine’s attacks on Russian oil refineries add to Moscow’s difficulties in addressing domestic fuel shortages as it ships diesel to international markets under an export deal with US President …
Nov 10 (Reuters) – Venture Global raised its full-year profit forecast on Tuesday after beating Wall Street estimates for the third quarter, as the US liquefied natural gas exporter looks to expand supply of power and infrastructure to the booming AI data center segment. Shares of the company were up 8.2% in premarket trading. …
Venture Global Raises Profit Forecast, Expands Push into AI Data Center Market Read More »
China’s imports of crude oil and exports of refined products neatly capture the current dynamics of the conflict in the Middle East. There is plenty of crude, but not enough fuel. The world’s biggest crude importer recorded arrivals of 9.88 million barrels per day (bpd) in October, according to customs data released on Tuesday. This …
China’s Crude Oil Imports Recover, Fuel Exports Not So Much: Russell Read More »
EnergyNow Media ExxonMobil has taken a preliminary step toward a possible return to Venezuela, signing a non-binding agreement with state-owned oil company PDVSA to assess upstream opportunities nearly two decades after its assets were expropriated. The memorandum of understanding, announced Monday, November 9, establishes a basis for evaluating potential exploration and production investments. ExxonMobil has …
ExxonMobil Opens Door to Venezuela Return With Preliminary PDVSA Agreement Read More »
(Reuters) – SpaceX is planning a roughly $24 billion gas-fired power plant and super-compute facility in Starbase, Texas, according to a public hearing notice. The rockets-to-AI company’s request comes as opposition to data centers grows, with voters rejecting them in 40 of 41 local ballot measures and Democrats, some of whom had campaigned on pausing …
SpaceX Plans $24 Billion Gas Power Plant, Data Center Project in Texas Read More »
(Reuters) – US demand for natural gas to be turned into LNG reached a record 20.4 billion cubic feet on Monday, according to preliminary data from financial firm LSEG. Feedgas demand was boosted by strong utilization across the US export plants. Global prices for liquefied natural gas remained near their highest levels since 2022, when …
US LNG Feedgas Demand Hits Record 20.4 bcfd as Export Plants Near Full Capacity Read More »
(Reuters) – US natural gas futures rose 5% on Monday as forecasts for colder weather and lower production boosted expectations for stronger heating demand, lifting prices to their highest level in three weeks. Front-month gas futures for December delivery on the New York Mercantile Exchange traded 16.2 cents higher, or 5.4%, to $3.16 per million …
US Natgas Rises 5% to Three-Week High on Colder Weather Outlook Read More »
(Reuters) – Canada’s Strathcona Resources said on Sunday it would acquire Greenfire Resources in a deal valued at about C$2.7 billion ($1.91 billion) to C$2.9 billion, including debt, as the oil producer expands its presence in Alberta’s oil sands region. Under the agreement, Greenfire shareholders can elect to receive either 0.25 Strathcona shares or C$11.00 …
Canada’s Strathcona to Buy Greenfire in up to C$2.9 Billion Deal Read More »
(Reuters) – Middle East oil producers are slashing prices to attract buyers as a sharp recovery in flows through the Strait of Hormuz tips the global crude market toward oversupply – a preview of the crowded, hyper-competitive oil market that the Iran war may leave in its wake. Global benchmark Brent crude tumbled more than …
Middle East Oil Price War Heralds Post-Conflict Glut: Bousso Read More »
(Reuters) – A sweeping bipartisan energy bill has unexpectedly emerged as the US Congress’ first test of how to tackle public anger over data centers and rising electricity costs, which helped to power Democrats to a landslide election victory last week. The legislation, years in the making and due to come before the Senate for …
US Congress Gets First Post-‘Blue Wave’ Crack at Data Centers with Permitting Bill Read More »
