Citi said on Wednesday that oil prices may stay elevated due to rising geopolitical risks, U.S. restrictions on Russian oil purchases and continued Chinese buying, even as markets entered the year expecting a large oversupply. “Further geopolitical escalation can lift prices to our 0-3m target of $70 a barrel,” the bank said in a note. …
Citi Expects Oil Prices to Stay Elevated Despite Oversupply Risks Read More »
By Nicole Jao NEW YORK, Jan 22 (Reuters) – Top U.S. oil refiners are expected to post stronger fourth-quarter profits as product margins spurred by the ongoing Russia-Ukraine war boosted earnings, energy analysts said. Fuel makers have reaped unexpected profits this year, after from record levels in 2022, a year when a recovery in demand …
US Refiners Poised for Higher Q4 Profit, Venezuela in Focus Read More »
WASHINGTON, Jan 28 (Reuters) – The United States is handing over a tanker to Venezuela that it seized this month, two U.S. officials told Reuters on Wednesday, the first known instance in which President Donald Trump’s administration has returned such a tanker. The United States has been carrying out a months-long effort to seize oil …
US Handing Over Seized Tanker to Venezuela, Officials Say Read More »
By Scott Disavino and Curtis Williams BP and Shell imported LNG from Trinidad amid U.S. winter storm Spot gas prices hit all-time highs due to increased demand and frozen wells Elba Island and Cove Point received unusual LNG imports for high-price opportunity HOUSTON/NEW YORK, Jan 28 (Reuters) – Several liquefied natural gas companies took the …
US LNG Plants Imported Cargoes During Winter Storm as Natural Gas Prices Hit Records Read More »
(Reuters) – Gulf governments are stepping up infrastructure deals with foreign investors, with Kuwait set to launch an oil pipeline network stake sale as soon as February in a deal that could raise up to $7 billion, three sources with knowledge of the matter said. The shift comes as oil prices, down more than 25% …
Kuwait Readies $7 Billion Pipeline Deal as Gulf Turns to Foreign Capital Read More »
By Tim McLaughlin and Laila Kearney Transmission congestion leads to soaring electricity prices Natural gas supply issues contribute to generator outages and price spikes PJM high-voltage line restrictions expected to average nearly 13 hours on Thursday BOSTON/NEW YORK, Jan 28 (Reuters) – Transmission line congestion on the largest U.S. power grid is expected to soar …
Forecast Record Electricity Demand to Test Largest US Power Grid, Blackout Chances Rise Read More »
(Reuters) – New York’s environmental regulator said on Wednesday that it filed with federal energy regulators to oppose Williams Cos-led Constitution Pipeline’s bid to revive a permit to build the proposed, previously canceled natural gas pipeline from Pennsylvania to New York. Constitution recently petitioned the U.S. Federal Energy Regulatory Commission to reissue a Certificate of …
NY Regulators Oppose Filings for Williams’ Proposed PA-NY Constitution Natgas Pipeline Read More »
By Georgina McCartney HOUSTON, Jan 28 – U.S. crude oil producers were bringing wells back online on Wednesday following a severe winter storm that swept across the country over the weekend, straining energy infrastructure and power grids. Domestic crude output is now estimated to be down around 600,000 barrels per day, roughly 4% of total …
US Crude Production Recovers After Winter Storm Ravages Output Read More »
By Kate Abnett BRUSSELS, Jan 28 – U.S. President Donald Trump’s push to take over Greenland has been a “wake-up call” to European governments to increase their energy security, the EU’s head of energy policy said on Wednesday. Europe has rapidly increased imports of liquefied natural gas from the U.S. as it races to cut …
Greenland Crisis a Wake-Up Call on Energy Security, EU Energy Chief Says Read More »
By Vallari Srivastava and Sumit Saha Jan 28 (Reuters) – GE Vernova (GEV.N) said on Wednesday that its wind power unit might take about $250 million revenue hit this year due to installation delays at an offshore Massachusetts project and that it was expecting a drop in order backlog. The company said the failure to …
GE Vernova’s Wind Setbacks Overshadow Strong Showing From Power, Electrification Units Read More »
