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Shale’s Shift to All-Stock Deals Gives It Muscle Against OPEC Maneuvers

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

APA Corp.’s $2.6 billion purchase of Callon Petroleum Co. extends the industry’s strategy of lining up drilling sites without piling on debt. Permian Basin oil and natural gas output may grow in 2024, though at a slower pace than last year. The new year in the shale patch kicked off much as the old one ended, with a hefty all-stock takeover. …

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Large Crude Unit, Coker Shut at Biggest U.S. Refinery

Energy Topics & Technology, Latest, Refineries, Tri-Pinned, US News / By

HOUSTON, Jan 8 (Reuters) – The large crude distillation unit (CDU) and coker were shut on Monday at Motiva Enterprises (MOTIV.UL) 626,000 barrel-per-day (bpd) Port Arthur, Texas refinery, the largest in the U.S., said sources familiar with plant operations. The 350,000-bpd VPS-5 CDU and the 110,000-bpd DCU-2 coker are scheduled to remain shut for a …

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Oil Tankers Continue Red Sea Movements Despite Houthi Attacks

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

(Reuters) – Oil and fuel tanker traffic in the Red Sea was stable in December, even though many container ships have rerouted due to attacks by Iran-aligned Houthi militants, a Reuters analysis of vessel tracking data showed. The attacks have driven up shipping costs sharply along with insurance premiums, but have had less impact than …

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Oil Rises Over a $1 as Middle East Crisis, Inflation Fight in Focus

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

Summary Hapag-Lloyd to continue avoiding Red Sea/Suez Canal 300,000 bpd of supply still offline in Libya American Petroleum Institute weekly data due at 2130 GMT (Reuters) – Oil prices rose by more than $1 on Tuesday after sliding in the previous session as markets weighed Middle East tensions against demand worries and rising OPEC supply. …

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Plains All American Pipeline and Plains GP Holdings Announce Quarterly Distributions and Timing of Fourth-Quarter 2023 Earnings

Latest, Press Releases / By

HOUSTON, Jan. 08, 2024 (GLOBE NEWSWIRE) — Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) today announced their quarterly distributions with respect to the fourth quarter of 2023 and also announced timing of fourth quarter 2023 earnings. Fourth Quarter Distribution Declaration PAA and PAGP announced the following quarterly cash distributions, each …

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U.S. Natgas Prices Drop 4% With Oil Futures, Ample Inventories

Conventional Energy, Latest, Natural Gas, US News / By

U.S. natural gas futures dropped about 4% on Monday because the country has ample amounts of gas in storage and the coldest weather expected over the next week will likely hit over the long U.S. Martin Luther King holiday weekend when many businesses and government offices are shut. Analysts said there was currently about 12.2% …

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U.S. Supreme Court Declines to Hear Exxon, Koch Industries Appeal on Venue in Climate Case

Latest, US News / By

The U.S. Supreme Court on Monday declined to hear a bid by major fossil fuel companies and an industry trade group to move a lawsuit filed by Minnesota accusing them of worsening climate change out of state court and into federal court, the energy industry’s favored venue. Exxon Mobil Corp, Koch Industries and the American …

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Shell Signs 20-year Supply Deal With Canadian LNG Upstart

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

British Columbia project adds to Shell’s LNG Canada position First binding deal for project targets Asia energy markets By Ruth Liao Shell Plc. signed a long-term deal to buy liquefied natural gas from a Canadian floating export facility to serve energy markets in Asia. The deal, which calls for 2 million metric tons a year of LNG …

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