Conventional Energy

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Glenfarne Announces Over $115 Billion of Strategic Partner Interest for Alaska LNG

Conventional Energy, Latest, LNG, Press Releases / By

Alaska LNG can deliver LNG into Asia at a lower cost than Henry Hub pricing from the U.S. Gulf Coast ANCHORAGE, Alaska & NEW YORK–(BUSINESS WIRE)–#Alaska–Glenfarne Alaska LNG, LLC (“Glenfarne”), a subsidiary of Glenfarne Group, LLC and majority owner and lead developer of Alaska LNG, a joint venture with the State of Alaska’s Alaska Gasline …

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How Canada’s Wildfires are Affecting Oil Supply

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

Wildfires burning in Canada’s oil-producing province of Alberta have reduced the country’s daily crude production by about 7%. Here is a tally of affected oil production sites so far: CENOVUS ENERGY – CHRISTINA LAKE SITE: Oil sands producer Cenovus evacuated non-essential workers from its Christina Lake site south of Fort McMurray, Alberta on May 29 and …

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Carlos Slim Is Quietly Becoming Pemex’s Partner of Last Resort

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Offshore, Oil / By

By Amy Stillman, Scott Squires, and Andrea Navarro Carlos Slim Photographer: Luis Antonio Rojas/Bloomberg The transformation of Mexico’s richest person into its most important oil baron came about slowly, almost subtly. Carlos Slim built up a stake in Talos Energy Inc. before flipping it for the company’s Mexican unit. There was a 2023 deal for …

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Global Oil Stockpiles Are Rising Fast as OPEC+ Hikes Supply

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

By Alex Longley Oil inventories have risen sharply across the world in recent weeks, a sign of the pressure that higher output from OPEC+ could place on the global crude market as the year progresses. Crude oil stockpiles globally rose by about 170 million barrels in the past 100 days, according to Kayrros, which monitors …

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Meta to Buy Nuclear Power From Constellation as AI Demand Soars

Artificial Inteligence, Conventional Energy, Electricity Grid, Energy Topics & Technology, Latest, Nuclear, US News / By

By Will Wade and Riley Griffin The Clinton Power Station in Clinton, Illinois. Photographer: John Dixon/The News-Gazette/AP Photo Constellation Energy Corp. agreed to sell power from an Illinois nuclear plant to Meta Platforms Inc. as artificial intelligence sends power demand soaring. The parent company of Facebook, Instagram and WhatsApp signed a 20-year contract to buy …

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COMMENTARY: BP Needs to Scrap its Big Oil Mentality, and its Buybacks

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By Ron Bousso BP’s net debt reached $27 billion by end of Q1 CEO aims to reduce net debt to $14-$18 billion by 2027 Shares have underperformed rivals since strategy reset in February LONDON, June 3 – BP has jumped from crisis to crisis in recent years, severely eroding the British firm’s stature as one …

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Canada PM Carney Open to New Canada Oil Pipeline Tied to Carbon Capture

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Oil, Pipelines / By

Mark Carney suggests building a new pipeline to ship more oil to foreign markets, tied to billions in green investments to reduce the industry’s environmental footprint. Summary by Bloomberg AI Alberta Premier Danielle Smith proposes a “grand bargain” that includes rapid approval of a new pipeline alongside large investments from Canadian oil sands companies into …

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Shell-BP Merger’s Key Ingredient is Time

CDN and International News, Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Mergers and Acquisitions, Natural Gas, Oil / By

(Reuters Breakingviews) – Wael Sawan must feel like it’s Groundhog Day. In recent weeks Shell’s  chief executive has been fielding one question over and over again: whether he’s considering merging his $198 billion group with struggling UK rival BP. Drill down into whether a swoop for the $77 billion oil major makes any sense, and Sawan’s lack …

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Venezuela’s Oil Exports Stable as Buyers in China Receive More

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Venezuela’s oil exports remained almost unchanged last month as increased shipments to customers in China offset a decline in U.S.-authorized sales, according to vessel-tracking data and internal documents from state company PDVSA. The U.S. Treasury and State departments in March revoked the authorizations they had granted in recent years for PDVSA’s customers and partners to …

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Global Oil Refiners See Short-Term Boost From Higher Margins

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

Summary Global refining margins hit a 14-month high in May Capacity closures in Europe, US, have tightened fuel supply Margins also boosted by summer peak fuel demand, relatively low stocks (Reuters) – Refiners across the globe are reaping unexpected profits from producing key fuels in recent weeks, offering an ailing sector respite before an anticipated …

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