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The marine offloading facility at the LNG Canada site is pictured, in Kitimat, Canada, September 2022. LNG Canada/Handout/ File Photo May 3 – The start-up of LNG Canada, the country’s first such export terminal, is likely to strain its natural gas supplies for multiple years and force producers to reduce exports to the U.S., where …
U.S. Stands to Lose Canadian Natural Gas When LNG Canada Terminal Starts Up Read More »
(Reuters) – Mexican export cuts and a rerouting of Canadian output are shrinking already limited supplies of heavy crude in the Atlantic basin, driving up refiners’ costs with a likely knock-on effect to industries ranging from shipping and construction to Middle Eastern power plants. Prolonged OPEC supply cuts and international sanctions on Venezuela, Iran and …
Heavy Oil Shortage Spells Higher Cost for U.S. Shippers, Road Builders Read More »
A U.S. regulator’s censure of a top U.S. oil executive over private meetings with the Organization of the Petroleum Exporting Countries (OPEC) group of oil producers has put a spotlight on dinners attended by dozens of shale executives. The U.S. Federal Trade Commission (FTC) on Thursday barred former Pioneer Natural Resources CEO Scott Sheffield from …
U.S. Oil Executive Censure Puts Spotlight on Shale-OPEC Meetings Read More »
U.S. natural gas futures jumped about 5% on Thursday on a continued drop in output and forecasts for more demand next week than previously expected due to an increase in the amount of gas flowing to liquefied natural gas (LNG) export plants. The price rise came even though last week’s storage build was slightly bigger …
U.S. Natgas Prices Jump 5% on Higher Demand Forecast, Lower Output Read More »
Summary Shell announces further $3.5 bln in buybacks Oil trading boosted by Red Sea diversions and Russia disruption LNG earnings beat expectations LONDON, May 2 (Reuters) – Shell reported first-quarter profit of $7.7 billion on Thursday, sharply beating expectations after disruptions in the Red Sea and Russia lifted oil refining and trading. The company also said …
Shell Smashes Forecasts with $7.7 Billion Quarterly Profit Read More »
(Reuters) – Oil prices rose on Thursday, rebounding from three days of losses that took prices to their lowest since mid-March. Brent crude futures for July gained 58 cents, or 0.7%, to $84.02 a barrel by 1130 GMT. U.S. West Texas Intermediate (WTI) crude for June was up 47 cents, or 0.6%, at $79.47. Prices …
Oil Prices Rebound After Closing at Seven-Week Low Read More »
Exxon Mobil is set to close its $60 billion deal for Pioneer Natural Resources following an agreement with antitrust enforcers to not add Pioneer CEO Scott Sheffield to its board, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The Federal Trade Commission is set to allege as soon as Wednesday …
Exxon to bar Pioneer CEO From its Board in Deal with FTC, WSJ Reports Read More »
Overcoming multiple bottlenecks will be essential for scaling up key technologies required to reduce GHG emissions and address the adverse consequences of climate change. The technologies that must be scaled up and reduced in cost are: Geothermal, nuclear, solar and wind electricity generation. Batteries and hydro storage to increase the effective production of intermittent electricity …
Oil takeaway capacity from the Permian basin, the largest U.S. shale field, is expected to tighten next month due to scheduled pipeline maintenance, which is already driving up the premium for delivered WTI into East Houston. The 642-mile Wink-to-Webster pipeline, operated by Exxon Mobil and which ships more than 1 million barrels per day (bpd) of crude …
WTI Delivered to East Houston Hits Highest Premium in Nearly Three Years Read More »
U.S. crude stocks and gasoline inventories rose while distillate inventories fell in the week ending April 26, the Energy Information Administration said on Wednesday. Crude inventories rose by 7.3 million barrels to 460.9 million barrels in the week ended April 26, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.1 …
U.S. Crude Stocks and Gasoline Inventories Rise, Distillate Inventories Fall – EIA Read More »
