Conventional Energy

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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

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

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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Big Oil in Business as Usual Mode Despite Nearing Storm: Bousso

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By Ron Bousso Summary Oil majors warn of worsening global economic conditions Yet most stick to large shareholder return programmes And are borrowing more in order to pay for their expenses (Reuters) – Top oil and gas companies are watching the worsening global economic outlook with trepidation, but they currently appear to be doing little …

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COMMENTARY: OPEC+’s ‘Healthy’ Crude Oil Market Looks like Catching a Cold: Russell

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

If there is one thing that is almost certain in the current global crude oil market, it’s that the stated reasons for the OPEC+ group of exporters increasing supply are not the real reasons.The eight OPEC+ countries that are party to voluntary output cuts met on May 3 and decided to ease their curbs again …

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I Squared Eyes Majority Stake in Natgas Pipeline Matterhorn, Sources Say

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

I Squared Capital is in talks to acquire a majority stake in the Matterhorn Express natural gas pipeline, according to people familiar with the matter. The infrastructure-focused investment firm has been speaking with potential investors that would help fund the potential purchase, the people said. I Squared is buying its position from WhiteWater Midstream, they …

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US Army Corps Targeting Fall Decision for Enbridge Line 5 Tunnel

Conventional Energy, Latest, Oil, US News / By

By Amanda Stephenson CALGARY, May 2 (Reuters) – The U.S. Army Corps of Engineers said on Friday it expects to make a decision this fall whether to grant a permit to Enbridge’s (ENB.TO) proposed Great Lakes tunnel for its Line 5 oil pipeline project. The Army Corps, a federal engineering service, released an updated permitting …

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Big Oil Earnings Show Split in Production Strategy, Shareholder Returns

Conventional Energy, Latest, Oil, US News / By

By Sheila Dang and Shadia Nasralla Exxon and Shell maintain buybacks amid oil price slump Chevron and BP reduce buybacks due to market conditions Exxon benefits from Guyana oilfield, Chevron seeks entry HOUSTON/LONDON, May 2 (Reuters) – Big Oil’s first-quarter earnings have shown a clear split in how companies are positioned to weather the downturn …

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Oil Posts Biggest Weekly Loss in a Month Ahead of OPEC+ Meeting

Conventional Energy, Latest, Oil, US News / By

By Shariq Khan Oil down 8% this week in steepest weekly decline since March OPEC+ moves up meeting to discuss June output plan to May 3 Group to decide whether to accelerate or slow supply hikes Signs of trade-war de-escalation help check oil’s decline NEW YORK, May 2 (Reuters) – Oil prices fell over 1% …

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OPEC+ Moves Forward its Meeting to Saturday, Sources Say

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

(Reuters) – A meeting of eight OPEC+ countries to decide on their plan for oil production policy in June will now take place on Saturday instead of Monday as originally planned, three sources with knowledge of the matter told Reuters on Friday. It was not immediately clear why the meeting was brought forward. The eight …

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Exxon Beats Wall Street Profit Estimate, Boosted by Guyana and Permian Production

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

Summary Exxon on track to meet annual share repurchase target Lower-cost production in Permian, Guyana helps boost earnings Oil and gas production up from a year ago Shares rise about 1% in pre-market trade HOUSTON, May 2 (Reuters) – Exxon Mobil  on Friday beat Wall Street’s estimate for first-quarter profit as higher oil and gas production …

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