July 22 (Reuters) – Southern Company’s (SO.N) subsidiary said on Wednesday it has signed a 25-year power supply agreement with OpenAI for a new project in Effingham County, Georgia. AI’s explosive growth is straining power grids, forcing utilities and tech giants to negotiate who bears the cost and risk as data centers balloon in size. …
Southern Co Unit Signs 25-Year Power Deal With OpenAI Read More »
By Tim McLaughlin, Laila Kearney and Jarrett Renshaw Pledge expansion to be announced at a White House event Patchwork of US grids already under severe strain FERC set to examine PJM’s worsening supply-demand imbalance on Thursday Expanded pledge would apply to 80% of US delivered electricity, White House says July 22 (Reuters) – President Donald …
Trump Set to Expand Power Cost Pledge on Data Centers Read More »
BAGHDAD, July 21 (Reuters) – Iraq’s oil minister said on Tuesday that agreements signed between the oil ministry and U.S. companies during the Iraqi Prime Minister Ali al-Zaidi’s visit to U.S. were estimated at $200 billion. In an interview with Iraqi state television, the minister Basim Mohammed said the agreements would add significant oil production …
Iraq’s Oil Minister Says US Energy Deals Worth About $200 Billion Read More »
July 21 (Reuters) – U.S.-based energy company EQT (EQT.N) missed Wall Street estimates for second-quarter profit on Tuesday, hurt by weaker natural gas prices. While the Middle East conflict sent international benchmark prices sharply higher, U.S. Henry Hub prices stayed well below year-ago and historical averages because record domestic output, comfortable storage levels and limited …
EQT Misses Quarterly Profit Estimates on Weak Gas Prices, Raises Production Forecast Read More »
By Timothy Gardner WASHINGTON, July 21 (Reuters) – A coal council that advises the Trump administration urged the U.S. Department of Energy on Tuesday to provide financial support including loan guarantees and grants to help existing coal plants and get new ones built. President Donald Trump, who wants to boost the U.S. coal industry, reinstated …
By Siyi Liu, Trixie Sher Li Yap, Nicole Jao and Seher Dareen Crude supply disruption hampers Asian fuel output recovery Strained Asian output and Russian diesel export ban boost global refining margins China has most spare capacity to boost throughput Refiners in Europe and US to run flat out in third quarter SINGAPORE, July 22 …
Mideast War Escalation Threatens Recovery in Global Oil Refining Read More »
(Reuters) – Refiners and oil-producing firms in the U.S. and elsewhere are gaining market share in Venezuela’s crude as they sign direct contracts with state-run PDVSA, challenging the global traders that inked earlier deals with the government of interim President Delcy Rodriguez. Trading houses Vitol and Trafigura currently control the lion’s share of Venezuela’s oil …
Refiners Elbow Traders to Take a Larger Slice of Venezuela’s Oil Read More »
US drillers are letting production rise again — just not the way they used to. By David Wethe and Kevin Crowley Gone are the go-go days of the US shale patch, when producers came out guns blazing, eager to boost output through fracking. Drillers are now so efficient they can expand production marginally without really …
Shale Trades Go-Go Days of Growth for Output Creep Read More »
(Reuters) – U.S. Secretary of State Marco Rubio said on Wednesday that Iran is not serious about talks to end their war, as the widening conflict disrupted two of the world’s most critical energy chokepoints. Four tankers carrying Saudi crude to Asia reversed course in the Red Sea on Wednesday, a day after three others …
More Red Sea Shipments Disrupted as Rubio Says Iran Not Serious About Talks Read More »
(Reuters) – Four tankers changed their navigational course in the Red Sea on Wednesday with two signalling the Suez Canal as their new destination after Yemen’s Houthi militia warned ships to avoid sailing to Saudi Arabian ports, ship tracking data showed. The vessels all changed their direction, with the other two signalling their destination as …
More Ships Change Course in the Red Sea After Houthi Threats, Shipping Data Shows Read More »
