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The British petroleum giant is back in the Gulf of Mexico as the US gets stuck between the black stuff and going green By Javier Blas Javier Blas is a Bloomberg Opinion columnist covering energy and commodities. He is coauthor of “The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources.” …
Biden, BP and the High-Stakes Sequel to Deepwater Horizon Read More »
By Reuters (Reuters) – Pipeline operator TC Energy beat first-quarter profit estimates on Friday, helped by robust demand for liquefied natural gas (LNG). Demand in the U.S., the largest importer of Canada’s oil and gas, rose in the first quarter according to the U.S. Energy Information Administration, benefiting Canadian energy firms. Total earnings from TC Energy’s pipeline …
Pipeline Operator TC Energy Beats Profit Estimates on Strong LNG Demand Read More »
(Reuters) – Top U.S. oil and gas producer Exxon Mobil has won the approval of the Federal Trade Commission (FTC) to close its deal for Pioneer Natural Resources on the condition that former Pioneer CEO Scott Sheffield is kept off its board. The U.S. oil and gas industry went on a $250 billion buying spree in 2023 …
Biggest Oil and Gas Sector Deals Since the Start of the Century Read More »
(Reuters) – OPEC+ oil producers are making voluntary output cuts totalling about 2.2 million barrels per day (bpd) for the first half of 2024, led by Saudi Arabia rolling over an earlier voluntary cut. These curbs from the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, come on top of earlier reductions …
Explainer: What OPEC+ Oil Output Cuts are Currently in Place? Read More »
The marine offloading facility at the LNG Canada site is pictured, in Kitimat, Canada, September 2022. LNG Canada/Handout/ File Photo May 3 – The start-up of LNG Canada, the country’s first such export terminal, is likely to strain its natural gas supplies for multiple years and force producers to reduce exports to the U.S., where …
U.S. Stands to Lose Canadian Natural Gas When LNG Canada Terminal Starts Up Read More »
(Reuters) – Mexican export cuts and a rerouting of Canadian output are shrinking already limited supplies of heavy crude in the Atlantic basin, driving up refiners’ costs with a likely knock-on effect to industries ranging from shipping and construction to Middle Eastern power plants. Prolonged OPEC supply cuts and international sanctions on Venezuela, Iran and …
Heavy Oil Shortage Spells Higher Cost for U.S. Shippers, Road Builders Read More »
U.S. natural gas futures jumped about 5% on Thursday on a continued drop in output and forecasts for more demand next week than previously expected due to an increase in the amount of gas flowing to liquefied natural gas (LNG) export plants. The price rise came even though last week’s storage build was slightly bigger …
U.S. Natgas Prices Jump 5% on Higher Demand Forecast, Lower Output Read More »
Summary Shell announces further $3.5 bln in buybacks Oil trading boosted by Red Sea diversions and Russia disruption LNG earnings beat expectations LONDON, May 2 (Reuters) – Shell reported first-quarter profit of $7.7 billion on Thursday, sharply beating expectations after disruptions in the Red Sea and Russia lifted oil refining and trading. The company also said …
Shell Smashes Forecasts with $7.7 Billion Quarterly Profit Read More »
Summary OPEC+ meets on June 1 Voluntary cuts of 2.2 mln bpd are in place until end-June ‘Good chance’ OPEC+ will extend, Energy Aspects says LONDON/MOSCOW, May 2 (Reuters) – OPEC and its allies have yet to begin formal talks on extending voluntary oil output cuts of 2.2 million barrels per day beyond June, but …
OPEC+ Could Extend Oil Cuts, Formal Talks Yet to Start Read More »
(Reuters) – Oil prices rose on Thursday, rebounding from three days of losses that took prices to their lowest since mid-March. Brent crude futures for July gained 58 cents, or 0.7%, to $84.02 a barrel by 1130 GMT. U.S. West Texas Intermediate (WTI) crude for June was up 47 cents, or 0.6%, at $79.47. Prices …
Oil Prices Rebound After Closing at Seven-Week Low Read More »
