Conventional Energy

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Phillips 66 Reduces Gasoline Output at Bayway Refinery After Fire, Sources Say

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

NEW YORK, Aug 14 (Reuters) – Phillips 66 (PSX.N) has reduced gasoline output at its 258,000 barrels-per-day Bayway refinery in Linden, New Jersey, after a fire near the plant’s gasoline producing unit, two people familiar with the matter said on Thursday. An ancillary piece of equipment of the refinery’s fluid catalytic cracking unit caught fire …

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Oil Price Structure Narrows, Premiums Fall as Supplies Rise, Summer Demand Ends

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

Summary Backwardation for Brent, WTI 6-month time spreads narrow Brent’s premium to Dubai lowest in 4 months Spot premiums for Oct-loading Dubai, Oman slip to month’s low Reuters) – Premiums for prompt benchmark oil prices globally are falling compared with those in future months on rising output from the Middle East, Latin America and Europe, …

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Oil Stable Ahead of Trump-Putin Alaska Meet

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

Summary Brent and WTI stabilise off previous session’s two-month lows Trump meets Putin on Friday to discuss war in Ukraine U.S. crude stocks rose unexpectedly last week, EIA says (Reuters) – Oil prices were stable on Thursday as investors weighed the potential impact of Friday’s U.S.-Russia summit on Ukraine on Russian crude flows, after U.S. …

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US Crude and Distillate Inventories Rise, Gasoline Inventories Fall, EIA says

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

U.S. crude and distillate inventories rose while gasoline stockpiles fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 3 million barrels to 426.7 million barrels in the week ended August 8, the EIA said, compared with analysts’ expectations in a Reuters poll for a 275,000-barrel draw. Crude stocks at the …

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Venture Global LNG Expects to Win Remaining Arbitration Cases against Major Energy Companies

Conventional Energy, Latest, LNG, US News / By

Liquefied natural gas producer Venture Global expects to win its remaining arbitration cases against major energy companies following its victory against Shell, CEO Mike Sabel said on Wednesday. The Arlington-based company’s stock rose 8% at midday, a day after it won the legal battle over Shell’s failure to deliver LNG under long-term contracts starting in …

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Crude Oil flows on Enterprise’s Texas Seaway Pipeline Fall, Leak Reported

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

Crude oil flows on the Seaway pipeline in Texas fell on Wednesday, four sources said, as the pipeline’s operator reported a leak on the system to state regulators. The 950,000-barrel-per-day Seaway pipeline runs between Cushing, Oklahoma, and the Freeport, Texas, area and connects to the Enterprise Crude Houston (ECHO) terminal, a storage facility in southeast …

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World Oil Market Looks More ‘Bloated’ After OPEC+ Hike, IEA Says

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

Summary IEA expects global supply to rise by 2.5 million bpd in 2025 Trims forecast for demand growth this year to 680,000 bpd Global crude refining runs will approach record high in August Implied surplus to approach 3 million bpd in 2026 (Reuters) – World oil supply will rise more rapidly than expected this year …

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Venture Global Wins Arbitration Case Against Shell Over Contracted LNG Cargoes

Conventional Energy, Latest, LNG, US News / By

Venture Global has won a legal battle against Shell over its failure to deliver liquefied natural gas under long-term contracts starting in 2023, the U.S. LNG major said on Tuesday. The company’s stock price rose almost 6% in after hour trade as investors cheered the decision. Firms, including Shell, BP, Edison and Galp, filed arbitration claims …

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Trinidad Awards Deepwater Blocks to Exxon, Could See $21.7 Billion Investment, Minister Says

Conventional Energy, Latest, Offshore, Oil, US News / By

Exxon Mobil could invest as much as $21.7 billion in Trinidad and Tobago if the U.S. energy major finds reserves in a large deepwater area it was awarded on Tuesday to explore for oil and gas in the Caribbean country, Energy Minister Roodal Moonilal said. Moonilal was speaking at an event in Port of Spain …

Trinidad Awards Deepwater Blocks to Exxon, Could See $21.7 Billion Investment, Minister Says Read More »

Chevron-Chartered Tanker Docks at Venezuela to Load Oil After New US License

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

A Chevron-chartered tanker docked at Venezuelan state company PDVSA’s Jose terminal on Tuesday, positioning it to be the first to export crude to the United States under a new license Chevron received in July, LSEG tracking data showed. The U.S. Treasury Department late last month authorized Chevron to operate in the sanctioned OPEC nation again, …

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