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District Court Denies California Parks Department Bid to Stop Sable Offshore Pipeline

Conventional Energy, Energy Topics & Technology, Latest, Offshore, Oil, US News / By

NEW YORK, May 28 (Reuters) – A U.S. District Court on Thursday denied the ​California Department of Parks and Recreation’s bid to ‌stop oil producer Sable Offshore Corp (SOC.N) from moving oil on a long-disputed pipeline linked to the Santa Ynez offshore ​platform. The denial marks a setback for California’s ​efforts to stop the Santa …

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Fed’s Schmid Warns Against Viewing Oil Shock as Transitory

Conventional Energy, Latest, Oil, US News / By

  Federal Reserve Bank of Kansas City President Jeffrey Schmid said on Friday that already-hot levels of inflation make it harder to assume the current energy shock will have only a temporary impact on pricing and can be ignored by the central bank. “My primary concern is inflation, which is too hot and has been …

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Analysts Hike Oil Forecasts Again as Energy Flows Face Slow Recovery

Conventional Energy, Latest, Oil, Pinned Primary, US News / By

Summary Brent projected to average $90.44 per barrel in 2026 WTI projected to average $84.63 per barrel in 2026 (Reuters) – Analysts have increased their 2026 oil price forecasts for the third time since the Iran war began at the end of ​February, as they cite a months-long timeline for energy flows to normalise to …

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Oil Prices Fall as Market Awaits Possible US-Iran Ceasefire Deal

EnergyNow News and Press Releases, Latest, Tri-Pinned / By

Summary Brent and WTI register steepest weekly losses since April U.S.-Iran ceasefire deal not finalised U.S. crude, gasoline and distillate stockpiles fell last week, EIA reports (Reuters) – Oil futures fell nearly ​2% on Friday and were on track for their steepest weekly decline since early April ‌after reports that the U.S. and Iran had reached agreement …

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Mitsui Seeks LNG Investments to Meet Power Demand From Data Centers, Bloomberg News Reports

CDN and International News, Latest, LNG / By

Japanese trading house Mitsui is looking to invest in LNG projects across the Middle East, the U.S. and Australia to meet rising power demand from data centers, Bloomberg News reported on Thursday, citing its CEO Kenichi Hori. The company will consider taking equity stakes or securing supply agreements in LNG and gas chemicals firms, Hori …

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US Imposes Fresh Sanctions on Iran’s Military Oil Sales, Treasury Says

Conventional Energy, Latest, Oil, US News / By

The U.S. said on Thursday it has imposed new sanctions on Iran’s military oil trade, even as Washington and Tehran reached a tentative agreement to extend their ceasefire and lift restrictions on shipping through the Strait of Hormuz. The Treasury Department said it had sanctioned eight vessels involved in transporting Iranian crude oil and petroleum …

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US Distillate Inventories Sink to 23-Year Low

Conventional Energy, Latest, Oil, US News / By

U.S. distillate fuel oil inventories fell to a 23-year low last week, the Energy Information Administration said on Thursday, as the Iran war continues to choke global fuel supplies and raise demand for U.S. crude and petroleum products. The country’s distillate stockpiles, which include diesel and heating oil, fell by 2.1 million barrels in the …

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U.S. Strikes Iran Targets Near Hormuz With No Accord in Sight

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U.S. forces shot down four Iranian drones fired at a commercial ship By Jennifer A. Dlouhy and Courtney McBride The U.S. struck Iranian military targets for the second time this week and Kuwait said it responded to missile and drone threats, highlighting the fragility of the ceasefire and the challenge of forging a peace accord …

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Fired BP Chair Hits Back at ‘Lies’ Told About His Conduct

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BP ousted Manifold on Tuesday, citing serious concerns related to ‘governance standards, oversight and conduct’ By Mitchell Ferman and Ruth David Former BP PLC Chairman Albert Manifold said nobody raised the issue of his conduct during his time at the oil major, hitting back at what he said were lies “told about me.” BP ousted …

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