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U.S. Supreme Court Ruling on Agency Powers May Impact Biden ESG Investing Rule

Energy Topics & Technology, ESG, Latest, US News / By

An impending U.S. Supreme Court ruling that could curb the regulatory powers of federal agencies may play a critical role in a challenge by Republican-led states to a rule issued by President Joe Biden’s administration allowing socially conscious investing by employee retirement plans, a court filing filed.The 26 states, led by Utah and Texas, asked …

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U.S. Buys 3.2 Million Barrels of Oil for Strategic Petroleum Reserve

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

The United States bought 3.2 million barrels of oil for the Strategic Petroleum Reserve, as it continues to slowly replenish the stash after selling a record amount following Russia’s invasion of Ukraine in 2022, a Department of Energy document showed on Friday. The U.S. bought 1.4 million barrels from Exxon Mobil, 600,000 barrels from Macquarie Commodities …

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Who’s Right on Oil Demand Growth Forecasts for 2024?

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

Market participants appear to be putting greater faith in the IEA than they do in OPEC. Analysts from groups representing oil producers and consumers have radically different views of this year’s market. But OPEC doesn’t seem to believe its own experts. Oil demand will increase almost as fast this year as it did in 2023 …

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SLB Beats on Fourth-Quarter Profit on Strong International Demand

Energy Services, Energy Topics & Technology, Latest, Tri-Pinned, US News / By

(Reuters) – SLB  beat analysts’ estimates for quarterly profit on Friday and said it expects strong growth in its international business this year as resilient offshore and overseas drilling activity boosted demand for its oilfield services and equipment. Schlumberger has banked on international growth, primarily from the Middle East, Europe and Africa, in recent years as …

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In First Look at 2025, OPEC Expects Robust Oil Demand Growth

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

Summary OPEC sees oil demand rising by 1.85 mbpd in 2025 Sticks to 2024 oil demand growth forecast of 2.25 mbpd IEA to publish updated forecasts on Thursday LONDON, Jan 17 (Reuters) – OPEC on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2024 and said 2025 will see …

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Carbon Markets Have a Long Shot at redemption

Carbon Capture, Energy Topics & Technology, Latest, US News / By

(Reuters Breakingviews) – The United States has grand plans for carbon markets. Washington’s idea,  for an Energy Transition Accelerator (ETA) targets one of climate finance’s biggest challenges – the need,  to increase clean energy investment in the developing world excluding China sevenfold by the early 2030s, to $1.9 trillion annually. John Kerry, U.S. President Joe Biden’s …

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OPEC May Need Further Supply Curbs to Balance Market, says Mercuria Chief

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

OPEC may need to cut production further to keep oil prices at current levels in the face of stuttering demand growth and high U.S. output, the CEO of commodities trader Mercuria Energy Group said on Wednesday. U.S. crude production will climb to record levels over the next two years, the U.S. Energy Information Administration (EIA) …

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Canada Regulators Face Activist Ire for Trans Mountain Variance Approval

CDN and International News, Energy Topics & Technology, Latest, Pipelines / By

(Reuters) – Environmental campaigners are criticizing Canada’s energy regulator for approving a “variance” request on a section of the Trans Mountain Expansion pipeline project, calling new conditions around material procurement accompanying the approval too lenient. Last week the Canada Energy Regulator (CER) agreed to Trans Mountain’s request for a variance that will enable the Canadian-government-owned pipeline to …

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Why the Texas Power Grid Is Still Facing Challenges

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

Bloomberg The electric power grid in Texas, which collapsed dramatically in a 2021 winter storm, is being tested once again as the state endures an Arctic blast. Demand for electricity has broken wintertime records as the state’s population continues to grow amid a rapid change in its energy mix, with wind and solar displacing fossil fuels. That’s been stoking …

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Biden Urged to Use Obscure Law to Thwart TC Energy Pacific Northwest Pipeline Expansion

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

Activists tout decades-old law to advance climate agenda TC Energy plans expansion of gas pipeline in Pacific Northwest Joe Biden Environmentalists are urging the White House to use an obscure legal tool to thwart TC Energy Corp.’s planned expansion of a natural gas pipeline in the Pacific Northwest that they say would stoke climate change. The …

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