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Chevron to Make Adjustments to Los Angeles Refinery Following Large fire

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

  (Reuters) – Chevron  said on Saturday that it will be making operational adjustments to its 285,000 barrel-per-day El Segundo refinery to meet Southern California’s fuel demands after a large fire erupted on Thursday night at the refinery. The El Segundo refinery is the second-largest in California and Chevron’s second-biggest refinery in the United States. The facility supplies …

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Surging OPEC+ Oil Output Leaves Market with Shrinking Shock Absorbers: Bousso

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

OPEC+’s continued oil output increases are eroding the group’s spare production capacity, a vital cushion that has helped to mitigate volatility in recent years. Energy traders may therefore face rockier days ahead. The prevailing belief in oil markets over the past three years has been that any supply shortfalls could be swiftly met by OPEC+, …

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Oil Prices Gain 1% After Lower-Than-Expected OPEC+ Output Hike

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

Oil prices rose about 1% in early trade on Monday after OPEC+ announced a more modest monthly increase in production than expected, tempering some concerns about supply additions. Brent crude futures rose 63 cents, or 1%, to $65.16 a barrel by 2310 GMT, while U.S. West Texas Intermediate crude was at $61.46, up 58 cents, …

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Oil Posts 8% Weekly Loss on Potential OPEC+ Supply Additions

Conventional Energy, Latest, Oil, US News / By

By Arathy Somasekhar OPEC+ could further boost output in November, sources say Analysts predict oil market surplus in fourth quarter and beyond Chevron refinery fire unlikely to affect broader market HOUSTON, Oct 3 (Reuters) – Oil prices settled higher on Friday but posted a weekly loss of 8.1% after news of potential increases to OPEC+ …

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US Crude Exports Rise to 1.5-Year High Strong Asian Demand, US Refinery Maintenance

Conventional Energy, Latest, Oil, US News / By

(Reuters) – Exports of U.S. crude oil climbed to the highest level in over a year and a half in September, ship tracking data showed, as U.S. refineries began seasonal maintenance and Asian demand increased. U.S. crude exports rose to an average of 4.2 million barrels per day in September, the highest since February 2024, …

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Chevron Puts $2 Billion Colorado Pipeline Assets for Sale, Sources Say

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

(Reuters) – Chevron is selling a collection of pipeline assets in the Denver-Julesburg shale basin that are likely to fetch more than $2 billion, people familiar with the matter said. Investment bankers at Bank of America have been working in recent weeks to solicit potential interest in the infrastructure, which was largely inherited from the …

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US Drillers Report Oil and Gas Rigs Unchanged For the Week at 549, Says Baker Hughes

Conventional Energy, Latest, Natural Gas, Oil, US News / By

(Reuters) – U.S. energy firms this week kept the number of oil and natural gas rigs virtually unchanged, energy services firm Baker Hughes said in its closely followed report on Friday. The rig count including a miscellaneous category, an early indicator of future output, was steady at 549 in the week to October 3. Baker …

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Biden Ban on Offshore Drilling in Vast Areas Was Illegal, Court Rules

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

(Reuters) – Former U.S. President Joe Biden exceeded his authority by withdrawing large areas along U.S. coastlines from future offshore oil and gas development, a federal judge in Louisiana ruled on Thursday. U.S. District Judge James Cain in Lake Charles, Louisiana, sided with Republican states and oil and gas industry groups that sued to block …

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Mark Carney-Launched Net-Zero Banking Alliance Votes to Shut Down

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

A spokesperson for the UN-backed Net-Zero Banking Alliance says members voted to end the membership-based structure and instead use the climate guidance the group created as a reference. As a result of the vote, the alliance is ending operations immediately. Carney launched the group in his role as UN Special Envoy for Climate Action and …

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