By Barbara J. Powell US oil refiners are running their plants harder than usual, with some even putting off maintenance, as strong profits and steady demand for fuels tempt the processors to run plants near maximum capacity. The industry has had one of its lightest maintenance seasons in years. From January through May, refiners shut …
US Crude Refiners Are Pushing Run Rates to Maximum Levels Read More »
By Grant Smith Oil industry experts have told OPEC+ that supply disruption caused by the closure of the Strait of Hormuz will persist to the end of the year, even if the waterway reopens promptly. Consultants and analysts gathered at OPEC’s Vienna headquarters for a technical meeting on Monday warned that it will take many …
Analysts Tell OPEC+ Hormuz Disruption to Last Through Year End Read More »
By Janet Lorin People walk on the Princeton University campus in Princeton, New Jersey. Photographer: Craig Warga/Bloomberg Princeton University’s endowment is backtracking on its pledge to divest from publicly traded oil and gas companies, four years after it said it would exit such holdings as way to move toward a net-zero portfolio. A trustee-mandated decision …
Princeton Endowment Backs Out of Oil and Gas Divestment Pledge Read More »
(Reuters) – U.S. crude exports climbed to a record 5.6 million barrels per day in May as the Middle East crisis pushed up demand for the country’s oil from Asian and European refiners, ship tracking estimates showed on Monday. The U.S. and Israel’s war with Iran triggered the largest-ever disruption to the global energy market …
US Crude Exports Hit Record High in May as Iran War Tightens Global Oil Supplies Read More »
(Reuters) – Venezuela’s oil exports rose slightly to 1.25 million barrels per day in May, its third consecutive month of increase, fueled by more cargoes to the United States, India and Europe, shipping data showed on Monday. Under the U.S.-supported government of interim President Delcy Rodriguez, Venezuelan crude production and exports have bounced this year …
Venezuela’s Oil Exports Rose to 1.25 Million bpd in May, Shipping Data Shows Read More »
By Tammy Nemeth & David Blackmon Across rural Virginia, suburban Utah, and farm communities in the Midwest, residents are showing up at planning meetings to voice real worries about massive new data centers: noise, water use, electricity demand, and the conversion of farmland into industrial zones matter. Yet what appears as spontaneous local pushback …
(Reuters) – Iran’s Tasnim news agency said on Monday that Tehran’s negotiating team is stopping exchanges of messages with the United States through mediators due to attacks on Lebanon, as diplomatic efforts to end the three-month-old Iran war continue. The agency said Iran and the Resistance Front, which includes its Shiite allies in Yemen, Lebanon …
Iran is Stopping Message Exchanges With U.S., May Block Hormuz, Tasnim News Agency Says Read More »
(Reuters) – Oilfield services provider Weatherford International said on Monday it has agreed to acquire energy technology firm NCS Multistage Holdings in a cash-and-stock deal. On a blended basis, Weatherford will pay the equivalent of 0.463 of its shares for each NCS share, with roughly 20% of the consideration in cash. Based on Reuters calculations, …
Weatherford to Acquire Oilfield Tech Firm NCS Multistage Read More »
By Ahmad Ghaddar and Alex Lawler Seven members likely to raise target by 188,000 bpd on Sunday, sources say Most cannot meet targets due to Hormuz closure Group-wide OPEC+ policy expected to remain unchanged OPEC delegates hold technical talks in Vienna this week VIENNA, June 1 (Reuters) – OPEC+ oil-producing countries will likely agree a …
OPEC+ Likely to Raise July Oil Output Target Despite Hormuz Disruption, Sources Say Read More »
The U.S. said it struck Iranian military sites at the weekend and Iran’s Revolutionary Guards said on Monday it had targeted a U.S. base in response, the latest exchange of attacks amid negotiations to end the three-month-old war. The U.S. and Iran have sporadically exchanged strikes since their ceasefire took effect in early April as …
US Says it Struck Iranian Military Sites, Tehran Responds with Air Base Attack Read More »
