Conventional Energy

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Oil Price Crucial for Russia, but National Interests Come First, Kremlin Says

CDN and International News, Conventional Energy, Latest, Oil / By

Oil prices play a crucial role in Russia’s budget and the Russian economy overall, but Russian national interests take precedence above all else, Kremlin spokesman Dmitry Peskov said on Tuesday. Peskov was commenting on remarks by U.S. President Donald Trump, who suggested that President Vladimir Putin might be more inclined to resolve the conflict in …

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Woodside Targets Another 20%-30% Selldown of $17.5 Billion Louisiana LNG Project

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Woodside Energy, Australia’s top natural gas producer, said on Tuesday it would seek to sell a further 20%-30% stake in Louisiana LNG, with interest growing in the $17.5 billion project since its final approval last week. Liz Westcott, chief operating officer for Australia, said the planned selldown of Woodside’s wholly owned holding company for the …

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Warren Buffett to Remain Berkshire Chairman but Shares Fall after Greg Abel Named CEO

Conventional Energy, Energy Topics & Technology, Finance, Latest, Oil / By

Chairman after vice chairman Greg Abel takes over as CEO. Summary • Buffett’s decision to give up CEO job ‘a shocker’ • Buffett could serve as mentor, help in acquisitions • Stock price falls 5% though Abel’s ascension was expected (Reuters) – Warren Buffett will stay on as chairman of Berkshire Hathaway after Vice Chairman …

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Saudi Arabia Can Control Oil Supply. Demand Could be its Achilles Heel: Bousso

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 (The opinions expressed here are those of the author, a columnist for Reuters.) * Saudi-led OPEC+ to sharply increase output by June * Riyadh appears willing to enter price war * Signs that oil demand could be hit due to trade wars By Ron Bousso LONDON, May 6 – Saudi Arabia has signalled that it …

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Supply Issues, Compliance Costs Drive up California Fuel Prices, EIA Says

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

(Reuters) – Drivers in California pay higher prices at the pump than any other state in the country due to supply issues, costs from environmental compliance and fuel requirements, and high state taxes and fees, the U.S. Energy Information Administration said on Monday. In March, costs from Californian environmental programs such as Cap-and-Trade and the …

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US Gulf Oil Output Could Reach 2.4 Million bpd Even Amid Volatility, Industry Leaders Say

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(Reuters) – The U.S. Gulf of Mexico can continue growing oil output even amid geopolitical volatility not seen in decades, oil and gas industry leaders said on Monday. U.S. President Donald Trump’s global tariff announcements have since last month contributed to a decline in oil prices and fears of an economic downturn, making it more …

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Power Up: OPEC+ Rolls Out the Barrels

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

By Liz Hampton (Reuters) – Hello Power Up readers! Oil futures are down more than 1% today after the Organization of the Petroleum Exporting Countries and allies decided to speed up oil output hikes. This comes after Brent shed more than 8% last week, and U.S. West Texas Intermediate (WTI) fell by 7.5% over the …

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Commonwealth LNG Signs 20-Year Supply Deal With Major Asian Buyer

Conventional Energy, Latest, LNG, US News / By

(Reuters) – Commonwealth LNG announced on Monday that it has signed a Sale and Purchase Agreement with a major Asian energy company. Under the 20-year agreement, the buyer will purchase 1 million tonnes per annum (mtpa) of liquefied natural gas (LNG) from Commonwealth’s planned 9.5 mtpa facility in Cameron, Louisiana, the company said. Last week, …

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Sunoco LP to Acquire Parkland Corporation in Transaction Valued at $9.1 Billion

Conventional Energy, Energy Topics & Technology, Gasoline, Latest, Mergers and Acquisitions, Oil, Press Releases, Refineries / By

DALLAS, May 5, 2025 /CNW/ — Sunoco LP (NYSE: SUN) (“Sunoco” or the “Partnership”) and Parkland Corporation (TSX: PKI) (“Parkland”) announced today that the parties have entered into a definitive agreement whereby Sunoco will acquire all outstanding shares of Parkland in a cash and equity transaction valued at approximately $9.1 billion, including assumed debt. As part of the …

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The Heart of the US Oil Boom is Slowing

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By Robert Cyran NEW YORK, May 5 (Reuters Breakingviews) – Oil fields are just as quick to make fortunes as break them. The 1901 Spindletop gusher in Texas jumpstarted the petroleum age, crashing oil prices. A mere two years later, over-extraction drove the field into decline. Sure, today’s industry is far larger and more sophisticated. …

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