Conventional Energy

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Ruling Paves Way to Restart Work on Exxon’s Texas LNG Plant

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Bankruptcy judge approves settlement with contractor Zachry Other companies will finish Zachry’s work on Golden Pass plant A bankruptcy judge this past week approved a settlement between the joint venture building Exxon Mobil Corp.’s $10 billion gas export project in Texas and lead contractor Zachry Holdings Inc., allowing other companies to finish work on the plant. …

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Freeport LNG Hub to Restart Three Production Trains in Early August

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Freeport LNG, the US’s second-largest export facility, is targeting the restart of all production lines in early August, according to people with direct knowledge of the matter. The Texas plant reduced production before Hurricane Beryl made a landfall earlier this month and caused wide-spread power outages. Loadings from the liquefied natural gas terminal outside of Houston were …

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Why U.S. LNG Is Attracting Foreign Investment

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Woodside’s acquisition of Tellurian highlights the appeal of exporting American natural gas. Australia’s Woodside Energy Group Ltd. made a bold leap into US liquefied natural gas with its agreement to acquire Tellurian Inc. for $900 million in cash. Tellurian owns Driftwood, a proposed multibillion-dollar LNG export terminal in Louisiana. The takeover could make Woodside the second foreign …

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U.S. Crude Oil Prices Retreat Amid Doubts About Further Stock Draw

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

By John Kemp (Reuters) – U.S. crude oil inventories have depleted faster than normal over the last four weeks – squeezing hedge funds running short positions, keeping spot prices firm and the futures curve in a steep backwardation. But with most short positions now repurchased this source of support has melted away and both spot prices …

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Baker Hughes Sees Lower North America Activity; Bets on Foreign Demand

Conventional Energy, Drilling Rigs, Energy Topics & Technology, Latest, OFS-Oilfield Services, Oil, Pinned Primary, US News / By

By Reuters (Reuters) – Baker Hughes  cut its outlook for spending by oil producers on Friday, citing lower drilling activity by North American companies, joining other oilfield service companies in warning about softness in the region. However, the company raised its full-year revenue and profit estimates, banking on strong international growth and demand for gas equipment. …

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Natural Gas Shows Its Staying Power as U.S. Wind Output Slumps: Maguire

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Power producers in the United States are becoming increasingly reliant on natural gas for generation, even as the country builds out renewable energy capacity at a record pace. Renewable energy sources have been grabbing a steadily growing share of the power mix for years, which has allowed power firms to cut coal-fired power and reduce …

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Oil Falls 1.5%, Ends Week Lower on China Demand Fears

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(Reuters) – Oil futures fell about 1.5% on Friday, finishing the week lower on declining Chinese demand and hopes of a Gaza ceasefire agreement that could ease Middle East tensions and accompanying supply concerns. Brent crude settled down $1.24, or 1.5%, at $81.13 a barrel. West Texas Intermediate crude ended $1.12, or 1.4%, lower at $77.16 …

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U.S. Oil/Gas Rig Count Rises in July in Biggest Monthly Hike Since Nov 2022 – Baker Hughes

Conventional Energy, Drilling Rigs, Energy Topics & Technology, Latest, Natural Gas, Oil, Tri-Pinned / By

(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row, boosting the monthly count by the most since November 2022, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose …

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Goldman Sachs Says Next U.S. President to Have Limited Tools to Significantly Boost 2025 Oil Supply

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

July 25 (Reuters) – Goldman Sachs  said on Thursday that whoever wins the U.S. presidential election in November will have limited tools to significantly boost domestic oil supply next year. Strategic petroleum reserve stocks are low and regulatory easing may only significantly boost U.S. long-run supply, the bank said in a client note. Oil prices rose …

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A Trump Presidency to Pose Mostly Bearish Risks for Oil, Citi Says

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

A Donald Trump presidency could be net bearish for oil prices due to a combination of factors including tariffs and oil-friendly policies, and pushing the Organization of the Petroleum Exporting Countries and allies (OPEC+) to release more oil into the market, Citi said in a research note on Thursday. “Trump could roll back environmental policies, …

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