Big Demand Means Big Challenges Ahead for Power Sector
Natural gas could help meet demand, but a new EPA rule requiring CO2 emissions from power plants to be reduced by 90% could limit fossil fuels’ role.
Shell Sees Emerging Asian Markets Taking More of World’s Growing LNG Supply
(Reuters) – Shell expects its Australian supplies of liquefied natural gas (LNG) to help meet demand from emerging markets in south and southeast Asia, which are tipped to absorb some of the pick up in global supplies towards the end of this decade. Asian spot LNG prices rose last week to the highest levels since …
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U.S. Crude, Distillate Inventories Rise, Gasoline Draws Down – EIA
(Reuters) – U.S. crude oil and distillate inventories rose while gasoline inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 1.8 million barrels to 458.8 million barrels in the week ending May 17, the EIA said, compared with analysts’ expectations in a Reuters poll for a 2.5 million-barrel draw. …
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Australia’s LNG Sector is Long-Term Bullish, but Needs a Carbon Price
(Reuters) – Australia’s natural gas producers are increasingly confident that their fuel is vital to the energy transition and will play a role across Asia up to and beyond the 2050 net-zero emissions targets of companies and countries. This optimism was on full display at the industry’s annual gathering in the capital city of Western …
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Oil Slips for Third Day on Likely ‘Higher for Longer’ U.S. Rates
Summary API reports crude and gasoline stocks rise, sources say UK inflation falls less than expected Fed minutes, EIA inventory report awaited LONDON, May 22 (Reuters) – Oil prices fell on Wednesday, retreating for a third straight day on expectations that the Federal Reserve might keep U.S. interest rates higher for longer due to sustained …
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UNSOLD: Slowing EV Sales Are Upending Banker Climate Strategies
The collateral damage from decelerating EV adoption will be far wider than the energy transition. Electric vehicles have swiftly gone from a rare bright spot in the fight against climate change to a cause for concern. A slowdown in EV adoption has potentially huge implications for the energy transition. It also has ramifications for the many financial institutions that …
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Oil Titans Help Give Trump an Edge Over Biden in Fundraising
Oil producers backed Trump’s political operation in April Former president has appealed directly to industry for support Oil industry titans are opening their checkbooks to support Donald Trump, with Texas tycoons Syed Javaid Anwar and Jeff Hildebrand among the donors contributing to the Republican candidate’s biggest fundraising month yet. Anwar, the founder and chief executive officer of Midland Energy …
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Shell Investors Ok Weaker Emissions Targets at Meeting
Chief executive Wael Sawan said he’s “very pleased” with the result Bloomberg News “I’m very pleased with what we’ve got” in support from investors, Shell chief executive Wael Sawan said on the sidelines of the meeting in London. “And I’m pleased that we have seen the Follow This resolution, get an even lower share of …
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Macron Urges TotalEnergies to Stay in France After Talk of U.S. Listing
(Reuters) – France supports companies that believe in the country, its President Emmanuel Macron said in an interview published on Wednesday, in response to a question on oil major TotalEnergies’ potential pursuit of a U.S. listing. WHY IT’S IMPORTANT A pillar of France’s CAC 40 blue chip index, TotalEnergies is one of the world’s largest oil …
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U.S. on Track to Establish Domestic Rare Earths Supply Chain for Defence, Official Says
PERTH, Australia, May 22 (Reuters) – The United States is on track to establish a domestic rare earths supply chain to meet its defence needs by 2027, a senior defence official said on Wednesday. The U.S has been driving the build out of a global supply chain for rare earths, metals used in magnets for …
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