FERC Staff Recommend Final Environmental Approval for Rio Grande LNG Project

Conventional Energy, Latest, LNG, US News / By

(Reuters) – Staff at the Federal Energy Regulatory Commission have recommended Next Decade’s Rio Grande LNG project in Brownsville, Texas, receive its final environmental approval, a document showed. The recommendation is a major step forward for the company as it pursues the 18 million metric tons per annum export facility. The project had faced uncertainty …

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US Gasoline Demand in May Hits Lowest Seasonal Level Since 2020, EIA Says

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

(Reuters) – U.S. gasoline demand in May fell to the lowest for that month since the coronavirus pandemic of 2020, data from the Energy Information Administration showed on Thursday, indicating consumers cut back on fuel purchases despite lower prices. Product supplied of finished motor gasoline, the EIA’s proxy for demand, averaged about 9.06 million barrels-per-day …

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Exxon, Chevron Profits to Drop to Lowest Point Since Pandemic, Analysts Say

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

(Reuters) – Top U.S. oil producers Exxon Mobil and Chevron are expected to report their lowest earnings in four years when they release second-quarter results on Friday, as weaker oil and gas prices slashed revenue. The April-June quarter covered a volatile period in which the OPEC+ group of producers continued raising their production volumes, putting …

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Blackstone Emerges as Frontrunner to Buy Enverus

Conventional Energy, Digital Tech, Energy Topics & Technology, Latest, Natural Gas, Oil, Tri-Pinned, US News / By

Summary Blackstone may pay around $6 billion for Enverus Veritas Capital also showed interest in Enverus Enverus owner H&F has been running sale process in recent weeks (Reuters) – Blackstone Inc  has emerged as the frontrunner to buy energy-focused data provider Enverus for around $6 billion, according to sources familiar with the matter. Reuters reported in …

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Oil Steadies as Concerns About Tariff Impacts Vie With Russian Supply Threats

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

(Reuters) – Oil prices were little changed on Friday after falling more than 1% in the previous session as traders digested the impact of new higher U.S. tariffs that may curtail economic activity and lower global fuel demand growth. Brent crude futures rose 4 cents, or 0.06%, to $71.74 a barrel by 1201 GMT. U.S. …

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Phillips 66 Hit with $800 Million Penalty in Biofuel Trade Secrets Case

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

U.S. refiner Phillips 66 was ordered to pay biofuel maker Propel Fuels $800 million in damages for stealing trade secrets to build up its renewable-fuel capabilities, according to a California state court document. A state court in Alameda, California, on Wednesday ordered Phillips 66 to pay $195 million in punitive damages, in addition to $604.9 …

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Asia Steps Up US WTI Oil Imports as Middle East Prices Rise,

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Asia is expected to step up imports of U.S. West Texas Intermediate crude in the fourth quarter after Middle East oil prices strengthened and opened the arbitrage window, trade sources said. Middle East crude benchmarks Dubai and Murban gained this month on the back of robust demand for high-sulphur oil in Asia, narrowing their price …

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