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Malaysia’s Petronas signs LNG supply deal with China’s CNOOC

CDN and International News, Conventional Energy, Latest, Natural Gas, Oil / By

Malaysian state-owned energy firm Petroliam Nasional said on Wednesday it would supply Chinese offshore oil and gas company CNOOC with 1 million metric tons per annum of liquefied natural gas (LNG).   The agreement between Petronas LNG and CNOOC Gas and Power Singapore Trading & Marketing builds upon existing cooperation between the two companies, Petronas said in a …

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BP Nears Deal to Sell Majority Stake in Castrol to Stonepeak, WSJ Reports

Energy Topics & Technology, Latest, Mergers and Acquisitions, US News / By

BP is nearing a sale of a majority stake in its Castrol lubricants unit to investment firm Stonepeak in a deal that values the entire division at $10 billion, including debt, the Wall Street Journal reported on Tuesday. As part of the deal, BP is set to receive roughly $6 billion in proceeds from the …

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US Tells UN it Will Deprive Venezuela’s Maduro, Drug Cartel of Resources

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(Reuters) – The United States told the United Nations on Tuesday it will impose and enforce sanctions “to the maximum extent” to deprive Venezuelan President Nicolas Maduro of resources as Russia warned other Latin American countries could be next. U.S. President Donald Trump’s administration has for months waged a campaign of deadly strikes against suspected …

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US Drillers Add Oil, Gas Rigs For First Time in Three Weeks, Baker Hughes Says

Conventional Energy, Latest, Natural Gas, Oil, US News / By

(Reuters) – U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Tuesday. The oil and gas rig count, an early indicator of future output, rose by three to 545 in the week to December …

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Venezuela Resorts to Floating Storage as Onshore Tanks Fill Up Amid Ship Seizures

CDN and International News, Conventional Energy, Latest, Oil / By

(Reuters) – Venezuela’s state-run oil company PDVSA has started filling up tankers with crude and fuel oil it has in storage as inventories mount amid moves by the U.S. to seize Venezuela-linked ships, according to company documents and shipping data. The U.S. Coast Guard this month intercepted the Skipper and Centuries tankers in the Caribbean …

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AI Data Centers are Forcing Obsolete ‘Peaker’ Power Plants Back into Service

Artificial Inteligence, Conventional Energy, Electricity Grid, Energy Topics & Technology, Latest, Natural Gas, US News / By

 * AI data center electricity demand revives peaker power plants * Peakers emit more pollution when they run than typical power plants * The power plants are often located in low-income, minority communities By Laila Kearney In Chicago’s working-class Pilsen neighborhood, a 60s-era oil-fired power plant rises up from an industrial lot behind Dvorak Park, …

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US Might Keep or Might Sell Oil Seized Near Venezuela, Trump Says

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PALM BEACH, Florida, Dec 22 (Reuters) – U.S. President Donald Trump said on Monday the United States would maybe keep and maybe sell the oil it had seized off the coast of Venezuela in recent weeks, adding the United States would also keep the seized ships. “Maybe we will sell it, maybe we will keep …

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Charted: Global Energy Demand by Fuel Type (2024-2050P) – Visual Capitalist

Biomass, CDN and International News, Coal, Conventional Energy, Hydro, Latest, Natural Gas, Nuclear, Oil, Renewable Energy, Solar, Wind / By

By Dorothy Neufeld | Graphics/Design Joyce Ma Key Takeaways Oil, coal, and natural gas were the leading sources of global energy demand in 2024. While coal demand is set to drop the most by 2050, solar and wind demand is forecast to surge. Fossil fuels powered 80% of global energy demand in 2024, with this …

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Oil Loadings in Venezuela Slowed and Ships Changed Course After New US Measures.

Conventional Energy, Latest, Oil, US News / By

December 22 (Reuters) – Oil tanker loadings slowed on Monday in Venezuela, with most vessels carrying oil shipments only between local ports, sources and ship tracking data showed, following U.S. actions targeting two more ships and as Venezuelan state oil company PDVSA struggles to recover from a cyberattack. U.S. authorities said the U.S. Coast Guard …

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Alphabet to Buy Clean Energy Developer Intersect in $4.75 Billion Deal Amid AI Push

Artificial Inteligence, Electricity Grid, Energy Topics & Technology, Latest, Mergers and Acquisitions, US News / By

Dec 22 (Reuters) – Alphabet (GOOGL.O) said on Monday it would buy clean energy developer Intersect for $4.75 billion in cash, plus assumed debt, as tech giants spend billions to expand the computing and power capacity necessary for developing artificial intelligence. Big Tech has ramped up investments in energy firms as U.S. power grids struggle …

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