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U.S. Democrats Urge Antitrust Regulator to Probe Oil, Gas Mergers

Energy Topics & Technology, Latest, Mergers and Acquisitions, US News / By

Nearly 50 Democrats in the U.S. Congress on Wednesday urged the Federal Trade Commission to probe oil and gas company deals and expand current investigations to protect consumers and industry competition. The industry went on a $250 billion buying spree in 2023, taking advantage of companies’ high stock prices to secure lower-cost reserves. Exxon Mobil Chevron Corp, …

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Oil Industry Criticized From Within Over Climate Efforts

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

Bloomberg The boss of the world’s biggest oil-services company says his industry isn’t moving fast enough to do its part in the fight against global warming. SLB Chief Executive Officer Olivier Le Peuch said he and his peers have a responsibility to find ways to reduce greenhouse gas emissions from drilling, fracking and pumping. Yet progress during …

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Enbridge to Invest About $500 Million in Pipeline Assets

Energy Topics & Technology, Latest, Pipelines, Tri-Pinned / By

(Reuters) – Pipeline operator Enbridge said on Wednesday it will invest about $500 million in expanding its pipeline and storage assets to improve its U.S. Gulf Coast presence. Enbridge operates North America’s biggest oil pipeline network, the Mainline, which moves Canadian crude from Alberta to U.S. and eastern Canadian refineries. The company said it will …

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Cenovus Blasts Canadian Government Over Lack of Support for Carbon Capture

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

‘Stick-based approach with some carrots thrown in’ Bloomberg News Robert Tuttle Cenovus Energy Inc. blasted the Canadian government for not providing enough financial support for the oilsands industry’s proposed $16.5-billion carbon capture system. The federal government has proposed tax credits covering about half of the capital costs for the project, and Alberta has offered a 12 per …

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U.S. Considers Selling Northeast Gasoline Reserve in 2024 in Draft Bill

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

The United States may sell its 1 million barrel Northeast gasoline reserve in fiscal year 2024, according to the draft text of a funding bill released on Sunday. The reserve, first established in 2014 after Superstorm Sandy left motorists in the northeastern United States without fuel, is located in New York Harbor, New York, Boston, …

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Hydrogen Wildcatters Still Need to Find Their First Gusher

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

By David Fickling David Fickling is a Bloomberg Opinion columnist covering energy and commodities. Previously, he worked for Bloomberg News, the Wall Street Journal and the Financial Times. Think of an iconic image of the petroleum age, and you may well be picturing a fountain of crude spouting hundreds of feet into the air, scattering …

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Qatar’s Gas Push Has a Hidden Motive – Murdering Coal

CDN and International News, Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, LNG / By

The nation is seeking to exploit the energy transition by boosting LNG production. By Javier Blas Javier Blas is a Bloomberg Opinion columnist covering energy and commodities. He is coauthor of “The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources.” The energy transition will eventually be a zero-sum game — for …

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Kerry Bows Out as Man Asked to Repair U.S. Climate Reputation

Energy Topics & Technology, Latest, US News / By

It was the day before Joe Biden’s inauguration as US president, and the man who would become one of his top diplomats was already plotting how to return the US to an international fight against climate change it had ceded four years earlier. With Covid-19 still raging, John Kerry huddled in a Maryland backyard with at least …

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OPEC+ Will Soon Confront a Tougher Oil-Market Test

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

Producers may need to stick with output curbs for the entire year, and the cooperation of all is far from guaranteed. OPEC+ may have put a floor under crude prices by extending oil supply cuts for another quarter, but the group will soon face a more grueling test. Saudi Arabia and its partners agreed Sunday to keep …

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TC Energy to Sell Portland Natural Gas Transmission System for $1.14 Bln

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

Reuters March 4 (Reuters) – TC Energy  said on Monday it has agreed to sell Portland Natural Gas Transmission System (PNGTS) to BlackRock  for $1.14 billion as part of its ongoing efforts to reduce debt and fund investments. CEO Francois Poirier had said in 2022 the company planned to raise more than C$5 billion ($3.69 billion) through 2023. The …

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