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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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Oil Hovers Near 3-Week High on Middle East Tensions, China Demand

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

Summary Signs of stronger China demand support sentiment -analyst Beijing cuts mortgage reference rate to bolster property sector Houthis continue to hit shipping in Red Sea (Reuters) – Oil prices edged lower on Tuesday but remained near three-week highs on heightened Middle East tensions and as China showed some signs of economic recovery. Brent futures …

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DT Midstream Reports Strong Fourth Quarter 2023 Results; Raises Dividend and 2024 Adjusted EBITDA Guidance

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  Full year 2023 Adjusted EBITDA of $924 million represents a 10% increase over the prior year Increased dividend by 7% Increased 2024 Adjusted EBITDA guidance Provided 2025 Adjusted EBITDA early outlook DETROIT, Feb. 16, 2024 (GLOBE NEWSWIRE) — DT Midstream, Inc. (NYSE: DTM) today announced fourth quarter 2023 reported net income of $121 million, …

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Oil Prices Can Avoid Both Boom and Bust This Year

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After a boom at the end of the pandemic and a bust last year, oil may avoid either extreme in 2024. At least, that’s the message from two prominent oil-watchers. Markets are set for a “comfortable” year with “moderate” prices as global demand growth cools and supply from the Americas swells, International Energy Agency Executive Director Fatih …

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Pipeline Owner DT Midstream Is Evaluating M&A Opportunities

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

The oil and gas industry is in “consolidation mode,” and pipeline company DT Midstream Inc. is positioning itself to take advantage of potential mergers and acquisitions, the company’s chief executive officer said. “We’re very aware of all those bolt-on opportunities around us,” CEO David Slater said on a quarterly earnings call with analysts Friday. Since …

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Wall Street Is Warming to Big Shale After $250 Billion of Deals

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Natural Gas, Oil, Shale, Tri-Pinned / By

Shale drillers can ‘consolidate or get eaten’: Warwick CEO US oil producers now in ‘arms race’ for scale, investor says This week’s $26 billion combination of two Texas oil companies is the latest in a series of deals that’s ushering in the era of Big Shale. Wall Street, which eyed the sector with skepticism for …

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Oil Settles Up, Records Weekly Gain on Middle East Tensions

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

Summary Israel strikes Rafah IEA trims oil demand growth forecast India-bound oil tanker hit by missile fired from Yemen (Reuters) – Oil prices settled higher on Friday as geopolitical tensions in the Middle East more than offset a forecast from the International Energy Agency for slowing demand. Brent crude futures settled up 61 cents, or …

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El Niño Pushes Real U.S. Gas Prices to Multi-Decade Low: Kemp

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Inflation-adjusted U.S. gas prices have fallen to the lowest level for over 30 years as a mild winter and continued production growth leave the market carrying a growing surplus of inventories. Front-month futures for gas delivered at Henry Hub in Louisiana slumped to $1.58 per million British thermal units on Feb. 15, the lowest in …

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US drillers cut oil and gas rigs for second time in three weeks – Baker Hughes

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By Scott DiSavino Feb 16 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the second time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by two to 621 in the week …

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