Clean Harbors Closes $400MM Acquisition of HEPACO
Clean Harbors acquired HEPACO for $400 million, adding complementary services for environmental remediation and emergency response in the Eastern U.S.
Russia Orders Companies to Cut Oil Output to Meet OPEC+ Target
Russia plans to gradually ease the export cuts and focus on only reducing output.
Goldman Sachs Retains Bullish View for Commodities in 2024
Goldman Sachs held onto its view to go long on commodities in 2024 which have given a 9% return year to date, which is further expected to rise to 15% by year-end, on cyclical and structural support to demand, and geopolitical risks. The bank forecast a return of 20% in select sectors such as energy …
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US Oil Refiners’ Weekly Capacity Seen Up 8,000 bpd, IIR Says
U.S. oil refiners are expected to have about 809,000 barrels per day (bpd) of capacity offline for the week ending March 29, marking an increase in available refining capacity of 8,000 bpd, research company IIR Energy said on Monday. Offline capacity is expected to rise to 882,000 bpd in the week ending April 5, IIR …
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Financiers Grab Reins as New Energy Startups Struggle
(Reuters) – Private equity firms are increasing their direct oversight of energy transition companies in their portfolios, taking on added duties to address runaway costs from supply chain issues and preserve valuations, executives said at the CERAWeek energy conference last week. Excitement around new energy technologies saw billions of dollars of investment poured in the last four …
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JERA, Exxon to Explore Development of Hydrogen and Ammonia Production Project in U.S.
(Reuters) – JERA, Japan’s top power generator, said on Monday it has agreed with Exxon Mobil to jointly explore the development of a low-carbon hydrogen and ammonia production project in the United States. Exxon is developing what is expected to be the world’s largest low-carbon hydrogen production plant at its Baytown Complex east of Houston …
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U.S. Awards Record $6 Bln to Back Industrial Emissions Reduction Projects
(Reuters) – The U.S. Energy Department on Monday announced $6 billion in federal funding to subsidize 33 industrial projects in 20 states to cut carbon emissions, saying the investment would support well-paying union jobs and boost U.S. competitiveness. Energy Secretary Jennifer Granholm will unveil the awards during a visit to a Cleveland-Cliffs Steel Corp facility in …
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Oil Rises as Heightened Geopolitical Risks Exacerbate Supply Concerns
(Reuters) – Oil prices rose in Asian trading on Monday on concerns over tighter global supply brought about by escalating conflicts in the Middle East and between Russia and Ukraine, while a shrinking U.S. rig count added to upward price pressure. Brent crude futures climbed 39 cents, or 0.5%, to $85.82 a barrel at 0759 …
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Stellantis Lays Off About 400 Workers to Cut Costs in EV Transition
CEO says company will have to cut costs to make EVs affordable for the middle class The Associated Press DETROIT — Jeep maker Stellantis NV is laying off about 400 white-collar workers in the United States as it deals with the transition from combustion engines to electric vehicles. EV price gap needs closing to spur demand The company …
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Russia Attacks Ukrainian Gas Storage Site; Ukraine Ramps up Power Imports
(Reuters) – An underground gas storage site in Ukraine was attacked on Sunday in the latest wave of Russian missile strikes on power facilities, while officials restored power in cities, ordered imports and imposed rolling blackouts to deal with shortfalls. Ukraine’s state-run Naftogaz energy firm reported the attack on the gas storage site (UGS), but …
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