Summary Fuel costs could lift average monthly bill as much as 13% to $195 from $173 Virginia Electric expects 23% of energy supply from PJM wholesale market, up from 14% in 2021 Dominion says offshore wind project would save customers about $5 billion over first 10 year (Reuters) – Dominion’s fuel costs in Virginia …
Virginia Data Center Boom Pushes Dominion Deeper Into Costly Power Market Read More »
(Reuters) – Some producers in the Middle East are likely to struggle to restore oil output to pre-conflict levels by the end of 2027, even if trade patterns return to normal by early next year, the U.S. Energy Information Administration said on Tuesday. Disruptions to shipping through the Strait of Hormuz and attacks on energy …
Some Middle East Oil Output Will Stay Shut Through Next Year, US EIA Says Read More »
Ukrainian forces have stepped up strikes on Russian energy infrastructure and other sites in what Kyiv says is an effort to deprive Russia of resources to fund its military. Following is a summary of the attacks — starting with the most recent — and their impact: ORSK The Ukrainian military said on Tuesday it had …
Ukraine’s Attacks on Russian Energy Sites – What Has Been Hit? Read More »
(Reuters) – Venture Global missed analysts’ estimates for quarterly revenue and adjusted core profit on Tuesday, as lower LNG prices at its Calcasieu Pass facility and higher operating and borrowing costs offset stronger sales volumes from its Plaquemines project. Shares of the LNG company fell about 7% in premarket trading. Venture Global reported second-quarter adjusted …
Venture Global Misses Quarterly Estimates as Lower LNG prices, Higher Costs Weigh Read More »
Shipping traffic through the Strait of Hormuz fell to six on Monday, compared with a 10-day average of about 11 vessels, shipping data showed, amid fading hopes of a peace deal between the U.S. and Iran. Four commodity vessels, including two empty oil product tankers, entered the waterway, data from Kpler showed on Tuesday as …
Gulf Shipping Traffic via Strait of Hormuz Falls to Six Vessels Read More »
Gasoline at $38 a gallon sold from cramped apartments. Diesel hawked on Instagram by a celebrity model to a reggaeton soundtrack. Six decades after Fidel Castro’s revolution, all of a sudden, capitalist cracks are appearing in Cuba’s communist energy sector. Under Washington’s crippling oil embargo against Cuba, an exception that allows U.S. firms to export …
US Fuel Sales to Cuban Business Bring a Glimpse of Capitalism to Havana Read More »
By Reuters (Reuters) – Phillips 66, Kinder Morgan and HF Sinclair said on Tuesday they have finalized a joint venture agreement and decided to proceed with the proposed $5 billion Western Gateway Pipeline system. Phillips 66 will own 49.9% of the joint venture, Kinder Morgan 35.1% and HF Sinclair 15%, they added. Companies have been racing …
Phillips 66, Kinder Morgan, HF Sinclair Approve Western Gateway Pipeline Project Read More »
Summary New terms require case-by-case review of individual voyages, White House official says Waiver was due to expire on August 16 without extension About 208 Jones Act exemptions were used in nearly 5 months, US data showed (Reuters) – President Donald Trump has extended for 90 days a waiver allowing foreign-flagged ships to transport oil …
Trump Extends Jones Act Waiver for 90 Days, Narrows Scope Read More »
By Bloomberg News Harry Sargeant III, a Florida energy tycoon who served as a longtime back channel between Washington and Caracas, agreed to sell his interests in Venezuela’s second-largest oil producer following a pressure campaign to force him out. Sargeant on Friday signed a $300 million deal to sell his offshore company, Bluewave Properties Ltd., …
Sargeant Said to Exit Venezuela Oil Stake Amid Pressure Campaign Read More »
(Reuters) – Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by about 6.1 million barrels to 298.7 million barrels last week, the lowest level since January 1983, according to data from the Department of Energy. The drawdowns are part of a U.S. agreement to release 172 million barrels from the facility. Reporting …
