When warnings abound about an imminent collapse in oil prices, one would not expect the CEO of a major oil company to boast that he has never been more confident. Yet that was precisely the message conveyed in Chevron’s updated strategy, unveiled by CEO Mike Wirth on Wednesday. He shrugged off concerns about oversupply in …
Confident Chevron Brushes Off Oversupply and Energy Transition Fears: Bousso Read More »
A jump in natural gas costs has spurred several U.S. utilities to lift coal power output and cut back on gas-fired generation so far this year, reversing a years-long trend of lower coal use and emissions in the country While the trend has been a national phenomenon, six states – Arkansas, Indiana, Michigan, Ohio, South …
Six US States to Watch as Rising Gas Prices Drive a Coal Comeback Read More »
European Union lawmakers backed further cuts to the bloc’s corporate sustainability law on Thursday, following months of pressure from companies and some governments demanding the EU weakens its rules. The European Union’s corporate sustainability due diligence directive (CSDDD) was adopted last year and requires companies to fix human rights and environmental issues in their supply …
EU Lawmakers Back Further Weakening of Sustainability Law Read More »
Summary API shows rise in weekly US crude, sources say OPEC report says oil supply will match demand in 2026 IEA says oil, natural gas demand to grow through 2050 (Reuters) – Oil prices edged up on Thursday, taking a break after major losses in the previous session, as investors weighed concerns about global oversupply …
Oil Prices Tick Up After Steep Losses in Previous Session Read More »
The liquefied natural gas market is bracing for a surge in supply next year, largely from top exporter the United States, but what is less certain is just how low spot prices will have to drop to clear the additional volumes. Global supply of the super-chilled fuel is expected to rise to 475 million metric …
LNG Prices Will Drop in 2026 to Absorb Supply Surge, But by How Much?: Russell Read More »
(Reuters) – From Egypt to Kazakhstan, the foreign assets of Russian oil major Lukoil are attracting potential bidders as time runs out to clear deals before U.S. authorities enforce sanctions. The U.S. has hit Lukoil with sanctions as part of its effort to bring the Kremlin to peace talks over Ukraine, and has already blocked …
(Reuters) – BP is in active talks with investment firm Stonepeak over the sale of its Castrol lubricants unit, two people with knowledge of the situation said, in what would be a major step in meeting the energy company’s $20 billion goal. KEY DETAILS Both Stonepeak and private equity firm One Rock made bids for …
BP in Active Talks With Stonepeak Over Castrol Sale, Sources Say Read More »
(Reuters) – U.S. oil production is expected to set a larger record this year than previously forecast, even as global oil supply outpaces fuel demand, the Energy Information Administration said in its Short-Term Energy Outlook report on Wednesday. The Department of Energy’s statistical arm expects U.S. oil output to average 13.6 million barrels per day …
EIA Raises US Oil Output Forecast, Says Oversupply Will Weigh on Prices Read More »
Washington’s $80 billion investment in nuclear reactors won’t yield carbon-free power anytime soon. By Will Wade The control room at the Three Mile Island nuclear power plant in Middletown, Pennsylvania. Photographer: Michelle Gustafson/Bloomberg After a generation of stagnation, interest in US nuclear energy is sky high, thanks to artificial intelligence’s voracious energy needs. Nuclear companies …
Billions Flow to US Nuclear Sector With Payoff Still Years Away Read More »
The energy watchdog says it’s possible global oil consumption could keep increasing through the middle of the century. By Grant Smith For several years, one of the world’s top oil forecasters seemed sure that demand growth would soon plateau. That certainty is fraying. On Wednesday, the International Energy Agency in Paris — founded in the …
The IEA Isn’t So Sure About Peak Oil Anymore: Energy Daily Read More »
