OPEC Secretary General Says Oil Demand to Remain Robust, No Change to Estimates

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ST PETERSBURG, June 4 (Reuters) – OPEC expects robust oil demand growth and ​is not changing its estimates, ‌Secretary General Haitham Al Ghais said on Thursday at the St Petersburg ​International Economic Forum, despite the ​Middle East conflict and closure of ⁠the Strait of Hormuz. “Despite all ​the commentary out there that ​oil demand is …

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Texas Power Demand Growth Nearly Five Times the Broader US, Report Says

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(Reuters) – Electricity demand in Texas grew 9% ​in recent months, nearly five ‌times the U.S. average, driven by the expansion of data centers and cryptominers ​in the Lone Star State, ​according to data released by Hitachi ⁠Energy on Thursday. The Texas power ​grid saw the largest jump in ​both power demand and the addition …

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Trump Plans $700 Million Push to Build Coal Plants, Export Site

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By Jennifer A Dlouhy President Donald Trump is preparing to use Cold War-era authorities to dole hundreds of millions of federal dollars to support coal-fired electricity as well as US exports of the fossil fuel. Trump is expected to announce he’s delivering the funding for US coal plants and an American export terminal under the …

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Why the Strait of Hormuz Is at the Heart of the US-Iran Stalemate

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By Julian Lee and Alex Longley No region of the world produces more oil and gas than the countries straddling the Persian Gulf. Most of this energy can only be exported aboard tankers that cross the Strait of Hormuz — a waterway that’s effectively been blocked for more than three months. Iran has throttled traffic …

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LNG Prices Could Go Higher in Significant Volatility, Uniper Executive Says

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LONDON, June 3 (Reuters) – Liquefied natural gas (LNG) prices could rise further in significant volatility than ​experienced so far during the Iran war if ‌supply disruptions coalesce with hot weather in Asia and European storage refill needs, Uniper’s chief executive for the Middle East, ​John Roper, said on Wednesday. The current supply ​disruptions have …

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Delfin Midstream Greenlights First US Floating LNG Export Project

Conventional Energy, Latest, LNG, US News / By

By Curtis Williams Delfin FLNG 1 to be first US floating LNG facility, largest globally Project had been ​delayed by pipeline explosion near Holly Beach and Johnson Bayou ‌in Louisiana Delfin aims to secure FIDs for additional FLNG vessels within the next year June 3 (Reuters) – Delfin Midstream said on Wednesday it has taken …

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These Countries Use the Most Electricity in the World – Visual Capitalist

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By Bruno Venditti | Graphics/Design: Sam Parker Key Takeaways China accounts for one-third of global electricity demand, a dramatic rise from under 10% in the early 2000s North American countries lead in per capita electricity use among the top consumers due to large homes, climate, and energy-intensive lifestyles Electricity demand reflects both economic activity and living standards. …

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Middle East Oil Refineries Could Ramp Up Output in 40-60 Days From End of Crisis, Vitol Bahrain Says

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(Reuters) – Middle East oil refineries could recover to more normal production levels in 40-60 days from the end of the current oil supply crisis linked to the effective closure of the Strait of Hormuz, Vitol Bahrain’s regional head of research Bader Nooruddin said on Wednesday. That timeline would take production up to around 90-95% …

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Many Airlines Hit Hard by Jet Fuel Price Swings, Not All Can Hedge, IATA Says

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By Robert Harvey LONDON, June 3 (Reuters) – Many airlines have been hit hard by price swings in ​the jet fuel market, and some are not in ‌a position to hedge their exposure, the International Air Transport Association’s head of fuel said on Wednesday. Some airlines with more elaborate hedging strategies get a bit ​of …

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US Midwest Expected to See Record Number of New Power Plants in Next Five Years, Grid Operator Says

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By Laila Kearney NEW YORK, June 3 (Reuters) – A record number of mostly gas-fired power plants ​are expected to connect to the ‌U.S. Midwest grid over the next five years as the area’s electricity demand surges, according ​to survey results released by the ​regional grid operator and its member ⁠states on Wednesday. Data centers …

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