Conventional Energy

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Shell’s Value Gap is More Strategy Than Geography

(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.) By Yawen Chen (Reuters Breakingviews) – It is generally a good thing when a chief executive worries about his company’s share price. The danger is seeking superficial fixes. Ever since Shell CEO Wael Sawan took charge last year, he has made it his …

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Iran Oil Sanctions in U.S. Aid Package for Ukraine

U.S. lawmakers have tucked sanctions on Iran’s oil exports in the House of Representatives’ aid package for Ukraine, Israel and the Indo-Pacific after Tehran’s missile and drone strike on Israel last weekend. If passed through both the House and Senate and signed by President Joe Biden and then implemented and enforced, the measures could eventually …

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Oil Slips Despite Reported Israeli Attack on Iran

(Reuters) – Oil slipped on Friday after prices spiked earlier on reports that Israel had attacked Iran as market fears of a major escalation to hostilities in the Mideast appeared to ease. After the benchmark contracts jumped more than $3 in the session, Brent futures were down 46 cents, or 0.5%, at $86.65 a barrel …

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Goldman Sachs Hikes Brent crude Forecasts for 2024 and 2025

Goldman Sachs on Thursday raised its Brent crude oil price forecasts, projecting $86 a barrel for the second half of 2024, up from $85 previously, and $82 for 2025, up from $80.It said prices were likely to stay at the higher end of its forecast range, citing disappointing U.S. supply and a likely sticky geopolitical …

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Oil Traders Sanguine About Risks From Israel-Iran Conflict: Kemp

Petroleum prices have fallen following Iran’s missile and drone assault on Israel, confounding expectations that the escalation of the shadow war would cause them to rise. Like major industrial accidents, extreme moves in oil prices, spikes or slumps, are always the product of multiple factors rather than a single cause. Spikes usually occur when the …

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U.S. Natgas Prices Up 3% Ahead of Storage Report as LNG Feedgas Rises

U.S. natural gas futures climbed about 3% on Thursday on forecasts for cooler weather and more demand next week than previously expected and with an increase in the amount of gas flowing to liquefied natural gas (LNG) export plants, including Freeport LNG. That price rise also came ahead of a federal storage report expected to …

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Biden Confronts Tough Choice Over Venezuela Oil Sanctions

The US president must hold Maduro to account while keeping a lid on domestic gas prices in an election year. Joe Biden must decide this week whether to reinstate oil sanctions on Venezuela — a matter entangled with two of the American president’s biggest headaches in an election year: inflation and immigration. The six-month waiver …

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BlackRock’s Aggressive Hunt for Growth in Saudi Arabia

The kingdom is plowing billions into infrastructure and investments—and Larry Fink is out to make sure the asset management giant gets a share   What’s worth your time when you’ve already built the world’s largest asset management company? For Larry Fink, chief executive officer of BlackRock Inc., courting the billions of dollars in assets up for grabs …

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Buffett Utilities Say More Gas Plants Needed to Meet Demand

NV Energy sees unprecedented demand growth on its systems Electricity demand is expected to more than double this decade Executives of US Western utilities owned by Warren Buffett’s Berkshire Hathaway Inc. conglomerate said more natural gas power plants will be needed to supply unprecedented demand growth on their systems. NV Energy Inc. sees natural gas generators playing a …

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Oil Extends Losses on Easing Middle East Tension, Demand Concerns

Summary Prices fall for fourth straight session, down 4% on week OPEC spare capacity could offset Iran sanctions, analyst says EIA: U.S. crude inventories up 2.7 million barrels (Reuters) – Oil prices fell to a three-week low on Thursday, extending losses on hopes of easing tensions in the key producing region of the Middle East, …

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