Conventional Energy

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Oil and Gas Firm EOG Strengthens Utica Footprint with $5.6 Billion Encino Deal

Conventional Energy, Latest, Oil, US News / By

Shale producer EOG Resources said on Friday it would acquire U.S. oil and gas firm Encino Acquisition Partners for $5.6 billion, including debt, to bolster its Utica assets.   The deal signed with Canada Pension Plan Investment Board (CPP) and Encino Energy will give EOG access to additional 675,000 net core acres and expand its multi-basin …

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US Ethane Exports to China Hit New Roadblock with Licence Requirement

Conventional Energy, Latest, US News / By

Summary Two VLGCs wait to load ethane for China -Kpler, LSEG 13 tankers due to load ethane for China in June -Kpler Enterprise warns ethane, butane exports to China could fall (Reuters) – Chinese purchases of U.S. ethane, a key petrochemical feedstock, face fresh uncertainty after the Commerce Department told exporters to seek licences to …

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North Dakota Regulator Extends How Long Oil Producers Can Leave Wells Uncompleted After Drilling

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

North Dakota has extended its policy on how long producers can leave wells uncompleted after drilling, a move that is expected to help drillers cope with weak oil prices, the state’s Department of Mineral Resources said on Thursday. Oil producers around the country have announced plans to drop rigs and delay completing wells as U.S. …

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Williams Working With Federal, State Regulators to Revive Pennsylvania-New York NatGas Pipes

Conventional Energy, Energy Topics & Technology, Latest, LNG, Natural Gas, Pipelines, US News / By

(Reuters) – U.S. energy company Williams Cos said on Thursday it was working with federal and state regulators to revive two previously canceled natural gas pipelines from Pennsylvania to New York. The pipelines are the Northeast Supply Enhancement (NESE) from Pennsylvania to New Jersey and New York and the Constitution Pipeline from Pennsylvania to New …

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US Crude and Fuel Inventories Fall, Nigerian Crude Imports Jump, EIA Says

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

(Reuters) – U.S. crude and fuel inventories all fell last week, while crude imports from Nigeria hit their highest level in nearly six years, the Energy Information Administration said on Thursday. Crude inventories fell by 2.8 million barrels to 440.4 million barrels in the week ending May 23, the EIA said, compared with analysts’ expectations …

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OPEC+ Prepares Third Dose of Oil Shock Therapy

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

By Grant Smith Saudi Arabia and its partners have discussed another large output hike, even as prices slide and demand wavers. Saudi Energy Minister Prince Abdulaziz bin Salman, who has recently doubled down on a radical OPEC strategy shift. Photographer: Vladimir Simicek/AFP via Getty Images OPEC+ looks set to push more oil onto a fragile …

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Goldman Urges Investors to Buy Gold and Oil as Long-Term Hedges

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

By Sybilla Gross and Yongchang Chin Goldman Sachs Group Inc. touted gold and oil as hedges against inflation in long-term portfolios, citing the appeal of bullion as a haven amid concerns over US institutional credibility and crude’s ability to protect against supply shocks. Analysts including Daan Struyven said investors with so-called 60/40 portfolios — an …

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ADNOC Drilling Buys into SLB’s Oman and Kuwait Rig Business

CDN and International News, Conventional Energy, Drilling Rigs, Energy Topics & Technology, Latest, Oil / By

(Reuters) – ADNOC Drilling will acquire a 70% stake in oil services firm SLB’s onshore rig business in Oman and Kuwait for up to $112 million, creating a joint venture it seeks to double in the next year, its chief financial officer said on Thursday. The acquisition, expected to close in the first quarter of …

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DOWN BUT NOT OUT: OPEC Must Squeeze US Shale Much More to Win Oil Price War

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

(The opinions expressed here are those of the author, a columnist for Reuters.)*US drillers slow down operations following oil price drop *US oil output growth set to slow in 2025 *OPEC will need to deepen price war to significantly impact US output By Ron Bousso LONDON, May 29 – Oil drillers in the U.S. shale …

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Oil Prices Climb as US Court Blocks Trump Tariffs

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

Oil prices rose on Thursday after a U.S. court blocked most of President Donald Trump’s tariffs from taking effect, while the market was watching out for potential new U.S. sanctions curbing Russian crude flows and an OPEC+ decision on hiking output in July. Brent crude futures climbed 78 cents, or 1.2%, to $65.68 a barrel. …

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