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Trans Mountain Corp will begin line fill in February on its long-delayed Canadian oil pipeline expansion and expects it to be in service in the second quarter, a company executive said on Wednesday. The C$30.9-billion ($23.05 billion) expansion will nearly triple the flow of crude on Trans Mountain from Alberta to Canada’s Pacific Coast but …
Canada’s Trans Mountain Pipeline to Start up in Second Quarter Read More »
Gas producer’s debt load threatens dividend, Snowcap says Snowcap faults environmental, asset-retirement practices Diversified Energy Co., the largest owner of US oil and natural gas wells, is being targeted by a short seller claiming the company may not have enough money to meet obligations to plug inactive wells. Snowcap Research, a London-based activist investor focused …
Diversified Energy Faces Short-Seller Attack From ESG-Focused Snowcap Read More »
Reuters U.S. oil refiners are expected to have about 1.9 million barrels per day (bpd) of capacity offline for the week ending Jan. 26, decreasing available refining capacity by 178,000 bpd, research company IIR Energy said on Wednesday. Offline capacity is expected to further fall to 1.58 million bpd in the week ending Feb. 2, …
US Oil Refiners’ Weekly Capacity Seen Down 178,000 Bpd -IIR Read More »
(Reuters) – Asia and Africa have replaced Europe as the top destinations for Russian crude oil exports since Moscow was slapped with European sanctions on sales of energy products following its invasion of Ukraine in February 2022. Prior to the sanctions in mid-2022, Europe accounted for more than 60% of Russia’s oil exports and provided …
Oil Demand in Asia, Africa Boosted by Cheap Russian Crude Read More »
International Energy Agency data shows the cartel and its allies may need to restrain supplies all year. OPEC’s mission to defend oil prices this year is starting to look even harder. The cartel and its allies launched new production cuts this month to stave off a global oil surplus, and group leader Saudi Arabia said …
Energy Transfer does not expect the U.S. Army Corps of Engineers to shut down the Dakota Access oil pipeline (DAPL) after a long-pending environmental review of a section that runs under a lake and is opposed by nearby Native American tribes, Executive Chair Kelcy Warren said on Tuesday. A U.S. court in 2022 ordered the …
Energy Transfer: Dakota Access Oil Pipeline Won’t Shut after Environmental Study Read More »
U.S. natural gas futures slid about 3% to a five-week low on Tuesday on forecasts for demand to keep dropping and output to keep rising as the weather turns warmer than normal through at least early February. That price drop occurred even though the amount of gas flowing to U.S. liquefied natural gas (LNG) export …
U.S. Natgas Prices Slide 3% to 5-Week Low on Warmer Weather Forecasts Read More »
(Reuters Breakingviews) – Exxon Mobil is trying to banish a climate activist proposal in a Texas court. The $385 billion oil giant would be better off leaving its own shareholders to do so. After all, similar measures have resoundingly failed before. Choosing to instead fight against a vote is counterproductive for a company that has struggled against …
OPINION: Exxon Activists Should be Banished With Vote, Not Court Read More »
WASHINGTON — The U.S. government has been asked to explain to a federal appeals court precisely how it believes the country’s 1977 pipeline treaty with Canada should impact efforts to shut down the controversial cross-border Line 5. A forthcoming Department of Justice brief will mark the Biden administration’s first public foray into the long-running dispute …
U.S. Department of Justice Preparing Legal Brief as Both Sides Appeal Line 5 Decision Read More »
The oil giant has outstayed its welcome in San Ramon. By Javier Blas Javier Blas is a Bloomberg Opinion columnist covering energy and commodities. He is coauthor of “The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources.” Chevron Corp. has a strong a sense of nostalgia about its home base …
COMMENTARY: Chevron Would Fit Better in Texas Than California Read More »
