Valero, Phillips 66 Buy Venezuelan Oil Cargoes as Part of Washington’s Deal With Caracas

Conventional Energy, Latest, Oil, US News / By

(Reuters) – Valero has bought a cargo of Venezuelan crude oil, two sources said on Wednesday, one of the first deals by U.S. Gulf Coast refiners that are part of Washington’s agreement with Caracas to export up to 50 million barrels. Phillips 66 has also purchased a cargo, one of the sources said. Both bought …

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US Allows China to Purchase Venezuelan Oil But Not at ‘Undercut’ Prices of Maduro Days, Official Says

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

(Reuters) – The Trump administration is allowing China to purchase Venezuelan oil but not at “unfair, undercut” prices at which Caracas sold the crude before the U.S. removed its leader Nicolas Maduro, an administration official said on Thursday. While the oil will be sold in the global marketplace, the U.S. administration has required that the …

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Largest US Electric Grid Expects All-Time Record Winter Demand

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

(Reuters) – Winter electricity demand on the largest U.S. power grid – the PJM Interconnection – is expected to set an all-time record next week as large swaths of the United States brace for an Arctic blast of cold weather. PJM’s seven-day forecast on Thursday morning predicted 144,465 megawatts of demand on January 27. That …

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Kimmeridge to Nominate Scott Sheffield to Coterra Energy Board, WSJ Reports

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

(Reuters) – Investment firm Kimmeridge plans to nominate former Pioneer Natural Resources CEO Scott Sheffield to Coterra Energy’s board, the Wall Street Journal reported on Thursday, citing people familiar with the matter. Kimmeridge has said Coterra’s board must reassess its leadership structure and appoint an independent, non-executive chair, the report said, adding that it expects …

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Venezuela’s Proposed Oil Reform to Give Autonomy to Companies to Operate, Cash Sales -Documents

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

(Reuters) – A profound proposed reform of Venezuela’s hydrocarbons law would allow foreign and local companies to operate oilfields on their own through a new contract model, commercialize output and receive sale proceeds even if acting as minority partners of state company PDVSA, drafts seen by Reuters on Thursday showed. Venezuela’s interim President Delcy Rodriguez …

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Venezuela’s Oil Shakeup Ripples Even Wider Across Tanker Market

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

By Weilun Soon Rates to ship crude on tankers are surging more widely across the world after the US moved to exert control over Venezuelan flows, a trade once primarily handled by a dark fleet of aging vessels. Shipowners are deploying legitimate tankers near the US Gulf in anticipation of higher demand for vessels instead …

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Energy Stocks Hit Record High on Greenland, Arctic Blast

Energy Topics & Technology, Finance, Forecasts, Latest, US News / By

By Monique Mulima A sizzling rally in energy stocks over the past few months has the group reaching a new high as rising geopolitical uncertainty pushes investors to bet on elevated oil prices. The S&P 500 Energy Index rose 2.4% to close at $750.17 on Wednesday, making it the best performing sector in the S&P …

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Natural Gas Soars 75% in Three Days as Arctic Cold Grips the US

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

By Sing Yee Ong, Elena Mazneva, and Julian Hast US natural gas futures surged about 75% in three days, rocketing to the highest price since 2022, as frigid weather sweeps across major markets for the heating fuel and forces traders to cover bearish positions. More than 175 million people across the country will face snow, …

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Davos: China Defends Wind Power Strategy After Trump’s Criticism

CDN and International News, Latest, Renewable Energy, Wind / By

BEIJING, Jan 22 (Reuters) – China defended its wind power record and reinforced its commitment to promote the global transition to low-carbon energy, after U.S. President Donald Trump’s criticism at the World Economic Forum annual meeting in Davos, Switzerland. “China’s efforts to tackle climate change and promote the development and application of renewable energy in …

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COMMENTARY: Charting the Data Center Development Roadmap in Key US States – Maguire

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

By Gavin Maguire LITTLETON, Colorado, Jan 22 (Reuters) – Judging by state and local filings alone, the U.S.’ data center computing capacity could jump by close to 1,000% if all projects currently planned come to fruition. That’s a big “if,” however, as it is widely known that some of the plans filed by so-called hyperscalers …

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