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U.S. energy major ExxonMobil sees a tighter oil market in the medium to longer term, particularly in the absence of further investments in unconventional oil and gas assets, Chief Executive Darren Woods said on Monday. Oil market oversupply is likely to be a short-term issue, with demand from emerging economies set to make meeting global …
Exxon Sees Tighter Oil Market in Medium-Long Term, CEO Says Read More »
(Reuters) – Fuel suppliers are using European Union green jet fuel mandates to inflate costs for airlines through surcharges, nearly doubling prices compared to market rates, the head of airlines body IATA said in an interview calling for policy reform. The EU began requiring airlines to use more sustainable aviation fuel (SAF) this year, with …
Airlines Face ‘Price Gouging’ by Green Jet Fuel Sellers, IATA Says Read More »
(Reuters) – Venture Global’s loss in a massive arbitration case with BP is a black eye for the wider U.S. LNG industry, whose breakneck growth looks set to contribute to a global supply glut and far more headaches for investors. The U.S. LNG producer, which has a $30 billion market cap, operates some of the …
By Erwin Seba HOUSTON, Oct 10 (Reuters) – Exxon Mobil restarted the gasoline-producing fluidic catalytic cracking unit on Thursday at its 612,000-barrel-per-day Beaumont, Texas, refinery, people familiar with plant operations said. The 120,000-bpd FCCU was shut on Tuesday night by a malfunction, according to a notice the company filed with the Texas Commission on Environmental …
Exxon Restarts FCCU at Beaumont, Texas, Refinery, Sources Say Read More »
By Verity Ratcliffe A looming surge in liquefied natural gas supply through the end of the decade is poised to create demand that won’t go away, said an Adnoc Gas executive. Prices of the super-chilled fuel are widely expected to drop as a number of LNG projects go online in the coming years, including Abu …
Record LNG Wave Will Breed Long-Term Demand, Says Adnoc Gas CEO Read More »
Support from the Trump administration, rising energy demand and cheaper drilling methods are boosting lease prices of US public land for geothermal development. By Renata Carlos Daou For the first time in years, the US federal government has leased every parcel of public land it has opened for geothermal development — and at record prices. …
Companies Are Paying Record Sums to Develop Geothermal Energy Read More »
Seatrium shares drop 6.5% after contract cancellation Maersk cites construction delays Seatrium considers legal action over contract termination Trump administration previously halted Empire Wind project work Oct 10 (Reuters) – Shipbuilder Seatrium (SEAT.SI) said Denmark’s Maersk (MAERSKb.CO) terminated a $475 million contract for a nearly finished offshore wind vessel that was intended to work on …
Maersk Cancels $475 Million Contract For US-Bound Offshore Wind Vessel Read More »
By Erwin Seba Brent and WTI crude prices fall to levels last seen in spring Gaza ceasefire shifts focus to potential oil surplus OPEC production increases, U.S. output seen leading glut HOUSTON, Oct 10 (Reuters) – Brent and U.S. crude futures fell more than $2 a barrel, or more than 3%, on Friday as U.S. …
Trump Tariff Threat Pushes Oil to Five-Month Low Read More »
(Reuters) – Venture Global’s loss in a massive arbitration case with BP is a black eye for the wider U.S. LNG industry, whose breakneck growth looks set to contribute to a global supply glut and far more headaches for investors. The U.S. LNG producer, which has a $30 billion market cap, operates some of the …
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating, the first reduction in six weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by two to 547 in the …
US Drillers Cut Oil and Gas Rigs for First Time in 6 Weeks, Baker Hughes Says Read More »
