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Chevron Shareholders Reject Proposal for Independent Board Chair

Energy Topics & Technology, Exploration & Production, Latest, US News / By

By Sheila Dang HOUSTON, May 27 (Reuters) – Chevron (CVX.N) ​shareholders rejected a proposal that would ‌have required an independent board chair separate from the CEO role, according to preliminary ​voting results at the annual ​meeting on Wednesday. Chevron opposed the proposal brought ⁠by the National Legal and ​Policy Center, saying it should have the …

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Open Interest in Natural Gas and Power on ICE Hits Record in May

CDN and International News, Conventional Energy, Energy Topics & Technology, Finance, Latest, LNG, Natural Gas / By

May 27 (Reuters) – Intercontinental Exchange, one of the world’s biggest operators of trading platforms, reported on Wednesday record liquidity across ​its global natural gas and power markets, including ‌for North American natural gas. The impact of the Iran war, which has led to the effective closure of the Strait of Hormuz, ​has led to …

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American Airlines Sees Resilient Demand Cushioning Fuel-Price Hit

Energy Topics & Technology, Gasoline, Latest, US News / By

By Rajesh Kumar Singh and Shivansh Tiwary American sticks to 2026 profit outlook despite fuel-price jump Isom says premium, corporate and leisure demand remain strong Spirit exit, premium-seat growth support revenue outlook CHICAGO, May 27 (Reuters) – American Airlines (AAL.O) is sticking with its ‌recently lowered full-year profit outlook despite a sharp jump in fuel …

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Iran Says Draft Deal with US Would Reopen Hormuz Shipping, End Naval Blockade

Latest, LNG, Natural Gas, Oil, US News / By

Iran’s state TV said Tehran had obtained a draft of an initial, unofficial framework for a memorandum of understanding with the United States on ending their conflict. Under the framework, Iran would restore commercial shipping through the Strait of Hormuz to pre-war levels within a month, while the United States would withdraw military forces from …

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WINNERS & LOSERS: Iran War Splits Global Markets Into Clear Winners and Losers

Conventional Energy, Latest, LNG, Oil, US News / By

  Three months since the Iran war began, persistently high oil prices have policymakers grappling with renewed inflation fears, while sliding currencies are a headache for some Asian countries. But the conflict has boosted other assets, especially oil, and the dollar’s credentials as a safe-haven. Here’s a look at some stand-out winners and losers. OIL’S …

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COMMENTARY: BP’s Board Snatches Defeat From the Jaws of Victory: Bousso

EnergyNow News and Press Releases, Latest / By

  The sudden ousting of BP Chairman Albert Manifold over allegations of misconduct less than eight months after he took office plunges the British energy giant into its second leadership scandal in less than three years. These repeated leadership misfires suggest BP’s board is quickly becoming a liability. His departure is related to aggressive conduct …

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Oil Prices Drop as Traders Look for US-Iran Talks Progress

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

(Reuters) – Oil prices fell around 3% on Wednesday as traders weighed up progress in U.S.-Iran peace talks ​against renewed hostilities. Brent crude futures fell $2.67, or 2.68%, to $96.91 ‌a barrel by 1139 GMT, while U.S. West Texas Intermediate (WTI) crude lost $3.43, or 3.65%, to $90.46 a barrel. The losses dented Brent’s gains …

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Oil Cargo From US Emergency Reserve Heads to Asia, First in Over 3 Years 

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

A cargo of crude oil from the U.S. Strategic Petroleum Reserve is heading to the Philippines, the first shipment of U.S. emergency reserve oil to Asia since November 2022, ship tracking data showed. Asia receives about 80% of its oil through the Strait of Hormuz, a critical chokepoint that has remained largely closed during the …

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Exxon, ConocoPhillips Seek Safeguards to Return to Venezuela

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

By Kevin Crowley, Jennifer A Dlouhy, Fabiola Zerpa, and David Wethe Exxon Mobil Corp. and ConocoPhillips are pushing for durable contract terms and a way to resolve billions of dollars owed to them as they consider re-entering Venezuela after exiting the country two decades ago. Both companies are in active negotiations with President Delcy Rodríguez’s …

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US Natural Gas Drops in Thin Trading as Options Contracts Expire

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

By Julian Hast US natural gas futures fell just before options contracts for front-month delivery expired, erasing earlier gains that had been triggered by an increase in domestic gas supplies flowing to liquefied natural gas export terminals on the Gulf Coast. Losses were likely aided by a cool shift in weather forecasts, signaling lower demand …

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