US Refiner Margins to Stabilize Next Year as Plant Closures Cut Supply, EIA Says

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

By Shariq Khan EIA expects US refining margins to be unchanged next year Margins have declined sharply since 2022 due to slowing demand, higher supplies NEW YORK, Nov 13 (Reuters) – U.S. refiner margins for gasoline and diesel will be relatively unchanged next year, the U.S. Energy Information Administration said on Wednesday, signaling relief for …

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US Power Use to Reach Record Highs in 2024 and 2025, EIA Forecast Says

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

Nov 13 (Reuters) – U.S. power consumption will rise to record highs in 2024 and 2025, the U.S. Energy Information Administration said in its Short Term Energy Outlook on Wednesday. EIA projected power demand will rise to 4,090 billion kilowatt-hours in 2024 and 4,158 billion kWh in 2025. That compares with 4,012 billion kWh in …

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Ridgemar’s Owner Explores $1 Billion-Plus Sale of US Oil Producer, Sources Say

Conventional Energy, Latest, Oil, US News / By

By Shariq Khan and David French NEW YORK, Nov 13 (Reuters) – The private equity owner of Ridgemar Energy is exploring a sale of the U.S. oil and gas producer that could value the company at more than $1 billion, including debt, people familiar with the matter told Reuters on Wednesday. Ridgemar, which is backed …

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Trump Pick Rubio Could Harden Oil Sanctions on Iran, Venezuela

CDN and International News, Conventional Energy, Latest, Oil / By

By Timothy Gardner and Vivian Sequera Stricter targeting of Iranian oil could be tempered by China concerns Trump will need to determine if sanctions can help achieve his goals Foreign ports, refineries processing Iran exports could be targeted WASHINGTON/CARACAS Nov 13 (Reuters) – President-elect Donald Trump’s pick of U.S. Senator Marco Rubio for secretary of …

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Oil Demand to Fall to 80-100 Million bpd by 2035, says BP’s US Chief Economist

Conventional Energy, Latest, Oil, US News / By

(Reuters) – Global oil demand will fall to around 80 million to 100 million barrels per day by 2035 in a net-zero environment, BP’s chief U.S. economist told an energy conference in Dallas on Wednesday. Crude oil demand is about 102 million barrels of oil per day now, and the forecast assumes renewables and more …

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