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Iran’s Capacity to Move Oil Reliant on Malaysian Providers, U.S. Official Says

CDN and International News, Conventional Energy, Latest, Oil / By

The United States sees Iran’s capacity to move its oil as reliant on service providers based in Malaysia, with oil being transferred near Singapore and throughout the region, the U.S. Treasury Department’s top sanctions official said on Tuesday. Brian Nelson, Treasury’s undersecretary for terrorism and financial intelligence, was speaking during a four-day visit to Singapore …

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Exxon, Chevron CEOs Seek Clear Rules on U..S Clean Energy Subsidies

Carbon Capture, Energy Storage, Energy Topics & Technology, Environment, Hydrogen, Latest, Pinned Primary, US News / By

Top executives at U.S. oil giants Exxon Mobil and Chevron Corp said on Monday that the U.S. needs to clarify rules on energy subsidies to drive the rapid, large-scale investments needed to fight climate change. President Joe Biden has been trying to encourage energy producers to slash emissions using technologies like carbon capture and green hydrogen that are expensive …

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Canadian First Nation Rejects Obsidian Energy Drilling Expansion Plans

Conventional Energy, Drilling Rigs, Energy Topics & Technology, Indigenous Energy, Latest, Natural Gas, Oil / By

Canada’s Woodland Cree First Nation has rejected oil and gas producer Obsidian Energy’s proposal to expand drilling operations on its traditional territory, the Indigenous community said in a statement on Monday. WHY IT’S IMPORTANT The formal notice that Woodland Cree’s chief and council have rejected Obsidian’s drilling plans mark a further breakdown in relations, after …

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Calfrac Reports First Quarter 2024 Results

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CALGARY, Alberta, May 07, 2024 (GLOBE NEWSWIRE) — Calfrac Well Services Ltd. (“Calfrac” or “the Company”) (TSX: CFW) announces its financial and operating results for the three months ended March 31, 2024. The following press release should be read in conjunction with the management’s discussion and analysis and interim consolidated financial statements and notes thereto as at …

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Duke Energy Beats First-Quarter Profit Estimates on Higher Rates

Artificial Inteligence, Electric Vehicles, Electricity Grid, Energy Topics & Technology, Latest, US News / By

(Reuters) – Duke Energy  beat Wall Street estimates for first-quarter profit on Tuesday, as the utility benefited from higher rates and robust demand for electricity. Income from Duke’s electric utilities segment jumped 29% to $1.02 billion. “We have a clear path forward that will deliver sustainable value and 5% to 7% earnings growth over the next …

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US Natgas Prices up 3% to 14-Week High on Rising Demand for LNG Feedgas

Conventional Energy, Latest, Natural Gas, Tri-Pinned, US News / By

U.S. natural gas futures gained about 3% to a 14-week high on Monday on forecasts for higher demand over the next two weeks than previously expected as feedgas to liquefied natural gas (LNG) export plants increased with the return of Freeport LNG in Texas. Prices were also supported by an ongoing decline in output. Front-month …

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U.S. Has Sufficient Oil Supply Reserve to Address any Supply Concerns, Biden Adviser Says

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil, Tri-Pinned, US News / By

The U.S. has sufficient supply of oil in the Strategic Petroleum Reserve to address any supply concerns and is monitoring markets on how to use it, Amos Hochstein, President Joe Biden’s energy adviser, said on Monday. The SPR is still near 40-year lows after Biden directed the largest ever sale of 180 million barrels from …

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Oil Steadies as Weak Physical Markets Balance Middle East Tensions

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary Israeli forces take control of vital Rafah crossing US crude and product inventories expected to have fallen Saudi Arabia raises official selling prices in June LONDON, May 7 (Reuters) – Oil steadied on Tuesday as weakness in the physical market countered concern about conflict in the Middle East as Israel stepped up attacks in …

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