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Gibson Energy reports 2023 fourth quarter and full year results, a 5% dividend increase and announces CEO transition plan

Latest, Press Releases / By

All financial figures are in Canadian dollars unless otherwise noted CALGARY, AB, Feb. 20, 2024 /PRNewswire/ – Gibson Energy Inc. (“Gibson” or the “Company”) announced today its financial and operating results for the three and twelve months ended December 31, 2023. The Company also announced the pending retirement of its President and Chief Executive Officer, Steve Spaulding. …

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Prompt U.S. Crude Futures Jump to Steep Premium Over Later-Dated Contracts

Conventional Energy, Latest, Oil, US News / By

The premium for prompt U.S. crude futures to the second-month contract more than doubled on Tuesday, hitting a high of $1.71 a barrel – its widest level in roughly four months. The structure, known as backwardation, occurs when the front-month contract is at a premium to later-dated contracts and can indicate tightness in the market. …

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After Plant Expropriation in Mexico, Air Liquide Says Compensation Talks Under Way

CDN and International News, Latest / By

Compensation talks were under way following the expropriation earlier this month of a plant at a major Mexican oil refinery that was sold to France’s Air Liquide several years ago, the company’s chief executive said on Tuesday. Mexico’s energy ministry announced the expropriation of the hydrogen plant at the Tula refinery, owned and operated by …

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Exxon Warns EU That Red Tape Might Push it to Invest Elsewhere, FT Reports

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ExxonMobil has warned it would withhold billions of dollars in climate-related investments in Europe unless Brussels cuts environmental red tape, which the company blames for the “deindustrialisation of the European economy”, the Financial Times reported on Tuesday. Exxon had $20 billion set aside for decarbonisation projects between 2022 and 2027, the newspaper reported, citing an …

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Equitrans Delays WV-VA Mountain Valley Natgas Pipe Again, Boosts Cost

Conventional Energy, Energy Topics & Technology, Latest, Oil, Pipelines, US News / By

U.S. energy firm Equitrans Midstream delayed the completion date for its Mountain Valley natural gas pipeline from West Virginia to Virginia to the second quarter of 2024 from the previous estimate of the first quarter. The company also boosted the projected cost to complete the project to around $7.57 billion-$7.63 billion, up from a prior …

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Occidental Explores $20 Bln-Plus Sale of Western Midstream

Energy Topics & Technology, Latest, Mergers and Acquisitions, US News / By

Occidental Petroleum is exploring a sale of Western Midstream Partners, a U.S. natural gas-focused pipeline operator that has a market value of close to $20 billion, including debt, according to people familiar with the matter. Western Midstream shares rose 10% to $32.12 in afternoon trading in New York on Tuesday. The divestment would help Occidental, …

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The IEA’s Mid-life Crisis – ENERGYminute

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Courtesy of imgflp The International Energy Agency (IEA) is doing what anyone approaching 50 does: buying a Harley having an identity crisis. Key stakeholders of the global energy watchdog gathered in France this week to honor the organization’s half-century mark. While many celebrated its recent turn towards green energy and sustainability, not all IEA members are thrilled. …

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Wireless Charging for Electric Cars Is Inching Closer to Reality

Electric Vehicles, Energy Topics & Technology, Latest, US News / By

As EV sales climb, more companies are embarking on wireless-charging pilot projects. But hurdles remain before powering up without a plug can go commercial.  Bloomberg Someday soon, plug-in cars may no longer need a plug. Electric car drivers would simply pull into a specialized parking space when it’s time to power up, wait for a …

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Oil Industry, Green Groups Challenge Biden Offshore Drilling Plan

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

(Reuters) – Oil and gas companies and environmental groups on Monday filed dueling legal challenges to the Biden administration’s five-year plan to offer drilling leases in the Gulf of Mexico. The petitions to a U.S. appeals court come four months after the Interior Department unveiled a congressionally-mandated plan for offshore leasing that included just three sales, the …

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Biden Administration to Approve E15 Gasoline Expansion Starting in 2025

Biomass, Energy Topics & Technology, Gasoline, Latest, Renewable Energy, US News / By

(Reuters) – The White House will approve a request from a group of Midwest governors to allow year-round sales of gasoline with higher blends of ethanol, but will push the start date into next year, two sources familiar with discussions said. The decision will likely be bittersweet for the biofuel industry, which wants to expand …

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