Imperial’s Project to Lower Oil Sands Emissions Begins Production
Imperial Oil, majority owned by Exxon Mobil, is deploying a new recovery technology at its Grand Rapids oil sands project in an effort to drastically reduce emissions by 2030.
Piñon Midstream Increases Delaware Basin Sour Gas Treating Capacity
Piñon Midstream plans to expand operations at Lea County, New Mexico, facility, the company said.
Developer Seeks Permit to Send US Gas to Mexico for LNG Exports
The project is the latest in a series of developments to convert U.S. gas into LNG and export it from Mexico’s Atlantic and Pacific coasts to meet global demand.
Big Demand Means Big Challenges Ahead for Power Sector
Natural gas could help meet demand, but a new EPA rule requiring CO2 emissions from power plants to be reduced by 90% could limit fossil fuels’ role.
Shell Sees Emerging Asian Markets Taking More of World’s Growing LNG Supply
(Reuters) – Shell expects its Australian supplies of liquefied natural gas (LNG) to help meet demand from emerging markets in south and southeast Asia, which are tipped to absorb some of the pick up in global supplies towards the end of this decade. Asian spot LNG prices rose last week to the highest levels since …
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U.S. Crude, Distillate Inventories Rise, Gasoline Draws Down – EIA
(Reuters) – U.S. crude oil and distillate inventories rose while gasoline inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 1.8 million barrels to 458.8 million barrels in the week ending May 17, the EIA said, compared with analysts’ expectations in a Reuters poll for a 2.5 million-barrel draw. …
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Australia’s LNG Sector is Long-Term Bullish, but Needs a Carbon Price
(Reuters) – Australia’s natural gas producers are increasingly confident that their fuel is vital to the energy transition and will play a role across Asia up to and beyond the 2050 net-zero emissions targets of companies and countries. This optimism was on full display at the industry’s annual gathering in the capital city of Western …
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Oil Slips for Third Day on Likely ‘Higher for Longer’ U.S. Rates
Summary API reports crude and gasoline stocks rise, sources say UK inflation falls less than expected Fed minutes, EIA inventory report awaited LONDON, May 22 (Reuters) – Oil prices fell on Wednesday, retreating for a third straight day on expectations that the Federal Reserve might keep U.S. interest rates higher for longer due to sustained …
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UNSOLD: Slowing EV Sales Are Upending Banker Climate Strategies
The collateral damage from decelerating EV adoption will be far wider than the energy transition. Electric vehicles have swiftly gone from a rare bright spot in the fight against climate change to a cause for concern. A slowdown in EV adoption has potentially huge implications for the energy transition. It also has ramifications for the many financial institutions that …
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Oil Titans Help Give Trump an Edge Over Biden in Fundraising
Oil producers backed Trump’s political operation in April Former president has appealed directly to industry for support Oil industry titans are opening their checkbooks to support Donald Trump, with Texas tycoons Syed Javaid Anwar and Jeff Hildebrand among the donors contributing to the Republican candidate’s biggest fundraising month yet. Anwar, the founder and chief executive officer of Midland Energy …
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