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COMMENTARY: Old-Economy Demands May Stall Emerging Market Decarbonization – Maguire

Latest, US News / By

By Gavin Maguire LITTLETON, Colorado, Jan 30 (Reuters) – While North America and Europe scramble to build the data centers needed to run 21st-century businesses, many emerging markets remain anchored to 20th-century products like steel, cement and plastics for job creation and economic growth. That divergence is splitting energy transition trajectories, too. In the U.S. …

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COMMENTARY: Oil Needs an Iran Supply Shock, Not Tough Talk, to Break Out of Range – Bousso

Conventional Energy, Latest, Oil, US News / By

By Ron Bousso LONDON, Jan 30 (Reuters) – Oil prices remain stuck in a narrow band even after soaring 15% in January, partly on fears of a fresh U.S. strike on Iran. Tough talk on either side is unlikely to push crude prices much higher, given today’s well-supplied market. What would be needed is big-time …

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Chevron Beats Q4 Profit Estimate, Eyes Venezuela Investment Opportunities

Conventional Energy, Latest, Oil, US News / By

Summary Chevron evaluates investment opportunities in Venezuela amid geopolitical changes Q4 profits exceed estimates despite lower crude prices, focus on cost-cutting Tengiz maintenance and weather impact Q1 production, expected to recover soon HOUSTON, Jan 30 (Reuters) – Chevron’s  fourth-quarter profits fell but came in ahead of estimates as it focused on cutting costs and making its …

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Freeport LNG in Texas to Take in More Gas After Thursday Shutdown, LSEG Data Shows

Conventional Energy, Latest, LNG, Oil, US News / By

Summary Freeport LNG shutdown impacts global gas prices US gas futures rise, European prices fall on Freeport news Freeport’s Train 3 shut due to compressor issue No comment from Freeport LNG officials NEW YORK, Jan 30 (Reuters) – Freeport LNG’s export plant in Texas was on track to take in more natural gas on Friday …

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Exxon Beats Wall Street Q4 Target as Permian, Guyana Fields Take Output to 40-Year High

Conventional Energy, Exploration & Production, Latest, Oil, US News / By

Summary Exxon Mobil reports Q4 adjusted EPS $1.71 vs estimate of $1.68 Exxon achieves highest annual upstream production in 40+ years Exxon plans $20 billion share buyback through 2026 HOUSTON, Jan 30 (Reuters) – Exxon Mobil beat Wall Street targets in fourth-quarter earnings reported on Friday, with higher oil production in profitable Permian Basin and Guyana …

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LyondellBasell Targets $1.3 Billion in Cost Savings After Surprise Quarterly Loss

Conventional Energy, Latest, Oil, US News / By

(Reuters) – Petrochemicals maker LyondellBasell  on Friday posted a surprise loss for the fourth quarter and said it aims to save $1.3 billion by the end of 2026, as it continues to keep a tight lid on costs amid volatility in feedstock and energy prices. LyondellBasell’s shares, however, rose 1.5% in premarket trading as the …

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Demand at Largest US Electric Grid Hovers Near Winter Record

Electricity Grid, Energy Topics & Technology, Latest, US News / By

(Reuters) – The largest U.S. electric grid on Thursday operated near record levels for demand amid frigid temperatures as weather forecasters predicted another Arctic blast over the weekend. The PJM Interconnection, which manages the flow of electricity for 67 million people in 13 Midwest and Mid-Atlantic states and Washington, D.C., reported electric demand at about …

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US Eases Sanctions on Venezuelan Oil Industry

Conventional Energy, Latest, Oil, US News / By

(Reuters) – The Trump administration on Thursday eased some sanctions on the Venezuelan oil industry as it seeks to expand production there after U.S. forces ousted the South American country’s President Nicolas Maduro on January 3. The U.S. Treasury issued a general license authorizing transactions involving the government of Venezuela and state oil company PDVSA …

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US Natgas Futures Soar 140% During Arctic Blast, Boosting Consumer Costs

Conventional Energy, Energy Topics & Technology, Finance, Forecasts, Latest, LNG, Natural Gas, US News / By

(Reuters) – U.S. natural gas futures jumped 140% over the past seven trading days, and cash gas and power prices hit record highs this week as an Arctic blast sent heating demand soaring and froze oil and gas wells, cutting gas output to a two-year low. The sharp jump in power prices will ultimately hit …

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