Phillips 66 Leans into Midstream Growth Despite Elliot Activism
Phillips 66’s grew its midstream segment so much that activist investor Elliott Management pushed to splinter the company—but the refining giant sees gold in moving NGLs.
Trump Poised to Repeal Biden Curb on Power-Plant Pollution
By Ari Natter and Jennifer A Dlouhy The Trump administration will propose scrapping Biden-era climate mandates requiring the nation’s power plants to curb planet-warming greenhouse gas emissions as soon as Wednesday, according to people familiar with the matter. The Environmental Protection Agency is also set to advance a plan for unwinding limits on mercury and …
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Data Centers Prompt US to Boost Power-Usage Forecast by 92%
By Will Wade US data centers are rapidly driving up demand for power, with the official forecast for electricity consumption next year almost doubling in the past month. Total power usage in the US is expected to climb 2.15% in 2026, spurred largely by a 5% spike from commercial users because of the expansion of …
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US Depends on Canadian Oil, Despite Trump’s Comments, Cenovus CEO Says
By Amanda Stephenson Canada aims to diversify exports amid US trade tensions Carney government seeks projects to boost Canada’s energy status CALGARY, June 10 (Reuters) – The U.S. relies on Canadian oil imports, despite comments to the contrary by U.S. President Donald Trump, Cenovus Energy (CVE.TO) CEO said on Tuesday. Trump has threatened on-again, off-again …
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US Energy Loan Office Should Fund Oil, Gas, White House Aide Says
WASHINGTON, June 10 (Reuters) – The U.S. Energy Department’s loan office should fund oil and gas infrastructure, a White House aide said on Tuesday, as President Donald Trump’s administration moves away from supporting projects designed to curb climate change. “One of the big problems is, in the past the … Loan Program Office has been …
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Oil Prices Hold Near 7-Week High as Market Waits for News From US-China Trade Talks
By Scott Disavino US and China enter second day of talks in London Saudi crude exports to China set to fall slightly Upcoming: US oil inventory data from API and EIA NEW YORK, June 10 (Reuters) – Oil prices held near a seven-week high on Tuesday as the market awaited direction from trade talks between …
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INEOS Looking Across Lower 48 for More Shale PDP
U.K.-headquartered international hydrocarbons conglomerate INEOS is seeking the mature U.S. shale assets that don’t have the upside growth potential publicly held U.S. operators need.
Federal Government Backs Off on Proposed Fines for Non-US LNG Ships
The U.S. trade office had proposed a schedule of rising rates if U.S. companies did not use tankers that don’t currently exist—but backed off after industry backlash.
Fervo Energy Sets Geothermal Drilling Records with Appraisal Well in Utah
The ability to drill deeper and hotter expands the commercial viability window for enhanced geothermal systems, according to Fervo.
Texas Hits Record NatGas Production, Crude Holds Steady
The Texas Oil & Gas Association estimated that crude oil production in Texas held steady at 5.7 MMbbl/d, while NGL production also remained level at 4 MMbbl/d.