Subsea 7 Wins Service Contract Offshore West Africa
Subsea 7 will transport and install flexible pipelines, umbilicals and associated subsea components for the connection of a floating production, storage and offloading vessel.
US Redirects Puerto Rico Solar Power Funds to Oil Plants
he Trump administration will halt funding of $365 million awarded during the previous administration for rooftop solar power in Puerto Rico and redirect it to fossil fuel burning plants.
Diversified CEO: Gas Fervor Grows on LNG, Midstream Momentum
Diversified Energy manages more than 64,000 wells nationwide but drills none itself. But the company’s recent Cherokee JV and western Haynesville deals give exposure to emerging plays without drilling risks.
Climeworks Is Cutting 22% of Staff as US Climate Backlash Hits Carbon Removal
By Akshat Rathi and Coco Liu Founded in 2009, Climeworks constructed a pilot plant in Iceland in 2021 followed by a larger version that began operations in 2024 and is still being built out. Photographer: Heida Helgadottir/Bloomberg Climeworks AG is laying off 106 people, as startups that aim to reverse global warming face a reckoning …
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Group That Blocked New Mexico Utility Merger Eyes Data Centers in Blackstone Deal
By Laila Kearney Blackstone’s data center plans may affect TXNM acquisition approval TXNM’s sale agreement follows rising electricity demand from AI data centers New Energy Economy to scrutinize Blackstone’s handling of data centers NEW YORK, May 21 (Reuters) – Blackstone Infrastructure’s (BX.N) plans for data centers in New Mexico will be a deciding factor in …
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US Crude, Fuel Stocks Up as Crude Imports Rise, Product Demand Slips, EIA Says
By Georgina Mccartney and Nicole Jao HOUSTON, May 21 (Reuters) – U.S. crude and fuel inventories posted surprise stock builds last week, the Energy Information Administration said on Wednesday, as crude imports hit a six-week high and gasoline, distillate demand slipped. Crude inventories rose by 1.3 million barrels to 443.2 million barrels in the week …
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Elliott Wins Two Seats, Phillips 66 Retains Two Seats in Hotly Contested Board Fight
By Svea Herbst-Bayliss and David French Phillips shareholders elect two of activist investor’s nominees Oil refiner also sees two of its nominated directors elected Analysts say vote means some change but no big mandate for transformation Elliott had never had a US based proxy fight go to a vote NEW YORK, May 21 (Reuters) – …
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US Says There Are Significant Undiscovered Oil and Gas Resources in Wyoming
May 21 (Reuters) – A new federal assessment has identified significant undiscovered, technically recoverable oil and gas resources in parts of Wyoming, Utah and Colorado, the U.S. Interior Department said on Wednesday. WHY IT’S IMPORTANT The resources identified by the U.S. Geological Survey in what is known as the Mowry Composite Total Petroleum System could …
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FERC Nears Final Order on Commonwealth LNG Permit
The Federal Energy Regulatory Commission released an updated environmental statement, an indication that the proposed Commonwealth LNG plant is near final approval.
Freeport Back at Full Strength Three Years After Fire, Tank Damage
Freeport LNG has been operating on two out of three LNG storage tanks for nearly three years, but had managed to hit record production in the past 12 months, most recently in April.