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Activist Investor Elliott Pushes for Change in BP Strategy Chief and Structure

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(Reuters) – Activist investor Elliott Investment Management wants oil major BP to replace its strategy chief and create separate units for upstream and downstream activities to improve accountability, a source familiar with the situation said on Friday. Elliott holds a stake of a little more than 5% in BP, the strategy, sustainability and ventures arm …

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US Refiner Phillips 66 Posts Bigger-Than-Expected Quarterly Loss on Lower Margins

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

(Reuters) – Phillips 66 reported a bigger-than-expected loss for the first quarter on Friday, hurt by lower refining margins amid widespread maintenance and turnaround activities across the U.S. refining sector. U.S. refineries typically undergo seasonal maintenance and turnaround activities in preparation for the summer driving season, when fuel demand significantly increases. However, this scheduled downtime …

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US Plans Alaska LNG Summit, Urges Japan, South Korea to Support Project, Source Says

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

(Reuters) – President Donald Trump’s energy security council plans to host a summit in Alaska in early June, when it hopes Japanese and South Korean officials will announce commitments to the Alaska LNG project, a source familiar with the matter said on Thursday. Trump has touted the $44 billion Alaska liquefied natural gas project, which …

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US Aims to Boost Offshore Oil Drilling by Easing Pressure Rules

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

(Reuters) – The U.S. Interior Department said on Thursday it has implemented new guidelines for allowable pressure differences in a certain type of oil drilling in part of the Gulf of Mexico, changes it expects can boost U.S. oil output. President Donald Trump’s new Energy Dominance Council led by Interior Secretary Doug Burgum is looking …

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Morgan Stanley Infra Partners Eyes $2 billion Permian Pipelines Sale, Sources Say

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

(Reuters) – Morgan Stanley Infrastructure Partners is exploring the sale of its majority stake in Brazos Midstream II, with a deal expected to value its holding at more than $2 billion including debt, three people familiar with the matter said. Brazos moves natural gas, natural gas liquids and oil from the wellheads of five Texas …

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US Clashes With Allies on Energy Security Vision at IEA Summit

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By Grant Smith Ed Miliband during the International Summit on the Future of Energy Security in London. Photographer: Chris J. Ratcliffe/Bloomberg At this week’s flagship international summit on energy security, the clashing visions of the US and its allies were on full display. Beginning with the event’s hosts — the International Energy Agency and the …

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US Widens Sanctions on Iran to Target Lucrative Gas Exports

Conventional Energy, Latest, Oil, US News / By

By Weilun Soon The US’s campaign to impose “maximum pressure” on Iran’s economy now includes the Islamic Republic’s liquefied petroleum gas exports, as Washington broadens its focus beyond crude oil. The Treasury Department on Tuesday sanctioned Iranian national Seyed Asadoollah Emamjomeh, who’s known to ship liquefied petroleum gas and crude oil from the country to …

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Tankers Chartered by Chevron to Move Venezuelan Crude Seek Other Business

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By Arathy Somasekhar Marketing of the ships indicates Chevron will not load all cargoes this month One Venezuelan crude cargo still pending return Vessels chartered by Vitol, Reliance and Maurel & Prom departing on schedule HOUSTON, April 23 (Reuters) – Some tankers Chevron had chartered to move crude from Venezuela to the United States this …

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Baker Hughes Forecasts Drop in Producer Spending as Tariffs Pinch Demand

Energy Topics & Technology, Exploration & Production, Forecasts, Latest, US News / By

By Arathy Somasekhar and Mrinalika Roy Baker Hughes sees 2025 upstream capex down by high-single digits Warns of tariff cost impact, working to raise domestic sourcing LNG technologies and equipment seen as bright spot for Baker HOUSTON, April 23 (Reuters) – U.S. oilfield service provider Baker Hughes (BKR.O) on Wednesday forecast steeper drops in spending …

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