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U.S. Senators Introduce Bill to Speed Approvals of Energy Projects

The top two lawmakers on the Senate energy committee on Monday introduced long-awaited legislation to speed permitting of power transmission, mining and liquefied natural gas export projects. Senators Joe Manchin, an independent who caucuses with Democrats, and John Barrasso, a Republican, said their bill would strengthen the power grid and help keep power prices low. …

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U.S. Natgas Prices Jump 4% on Rising Exports From Freeport LNG in Texas

 U.S. natural gas futures jumped about 4% to a one-week high on Monday with an increase in the amount of gas flowing to U.S. liquefied natural gas (LNG) export plants as Freeport LNG in Texas started exporting cargoes again after shutting for Hurricane Beryl in early July. Traders also noted that the hottest weather of …

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Harris Seen as Tougher Oil Industry Opponent Than Biden

As California attorney general, Harris had sued oil companies She’s been more critical of fracking, offshore oil than Biden As California attorney general, Kamala Harris brought lawsuits against fossil fuel companies, prosecuted a pipeline company over an oil leak and investigated Exxon Mobil Corp. for misleading the public about climate change. Now, with the vice president suddenly …

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Oil Market Likely to be in Surplus Next Year, Morgan Stanley Says

The crude oil market is currently tight but next year will likely be in surplus, with Brent prices declining into the mid-to-high $70s range, Morgan Stanley said.The tightness will hold for most of the third quarter, the bank said in a note dated on Friday, but equilibrium will return by the fourth quarter, “when seasonal …

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Oil Prices Stable After Biden Exit While Rate Outlook Remains in Focus

The U.S. Federal Reserve is due to review policy next on July 30-31, when investors expect it to keep rates unchanged, though there have been indications that a cut will happen at the September meeting. News that President Biden decided on Sunday to abandon his re-election bid was not a major factor for oil markets. He has endorsed Vice …

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ExxonMobil to Transfer Operations of Assets of 2 Production-Sharing Contracts in Malaysia to Petronas

Exxon Mobil Corp intends to transfer the operations of all assets of two production-sharing contracts in Malaysia to state energy company Petronas, Exxon Mobil said on Saturday. Reuters had reported on Friday that Exxon Mobil had agreed to sell its Malaysian oil and gas assets to Petronas, citing two people with direct knowledge of the matter. …

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Tellurian to be Acquired by Woodside for Approximately $900 Million

All-cash transaction provides substantial and certain value to Tellurian shareholders Offer reflects new leadership’s progress executing the company’s refreshed strategy HOUSTON–(BUSINESS WIRE)–Tellurian Inc. (“Tellurian”) (NYSE American: TELL) today announced that it has entered into a definitive agreement with subsidiaries of Woodside Energy Group Ltd (“Woodside”) (ASX: WDS) pursuant to which Woodside will acquire all the …

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Williams to Start Building Louisiana Energy Gateway Project

Pre-construction on natural gas pipeline could start next week Energy Transfer says ‘surprising’ move given legal battles Williams Cos. will start building its delayed Louisiana Energy Gateway natural gas pipeline in the coming weeks, the company reported. Pre-construction will begin as early as July 25, Williams said Friday in a letter to the Federal Energy Regulatory …

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U.S. FTC Probes Hess, Occidental Execs Over OPEC Communication, Bloomberg Reports

Agency investigators are looking for evidence of executives attempting to collude with OPEC officials on oil market dynamics, the report said. Earlier this year, FTC barred former Pioneer Natural Resources CEO Scott Sheffield from Exxon’s board on allegations that he attempted to collude with OPEC to raise oil prices. The FTC made the move as …

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