Conventional Energy

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Amazon, Google Make Dueling Nuclear Investments to Power Data Centers with Clean Energy

Artificial Inteligence, Conventional Energy, Energy Topics & Technology, Latest, US News / By

Amazon on Wednesday said that it was investing in small nuclear reactors, coming just two days after a similar announcement by Google, as both tech giants seek new sources of carbon-free electricity to meet surging demand from data centers and artificial intelligence. The plans come as the owner of the shuttered Three Mile Island nuclear …

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Cove Point LNG in Maryland Returns to Production

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Berkshire Hathaway Energy’s 0.8-bcfd Cove Point LNG export plant in Lusby, Maryland, returned to production on Saturday, three weeks after it shut down for annual maintenance, according to data from financial firm LSEG. The plant is one of the smallest U.S. LNG export facilities, but with low gas prices since March this year, any loss …

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US Natgas Prices Hold Near 3-Week Low on Mild Weather Forecasts

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

U.S. natural gas futures held near a three-week low on Tuesday on expectations mild weather over the next two weeks will keep demand low. Front-month gas futures for November delivery on the New York Mercantile Exchange remained unchanged at $2.490 per million British thermal units (mmBtu) at 8:11 a.m. EDT (1211 GMT). On Monday, the …

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Google Backs Buildout of Small Nuclear Reactors in Kairos Deal

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Alphabet Inc.’s Google is investing in the development of the next generation of nuclear power, backing a company that’s building small modular reactors and agreeing to purchase energy once the sites start supplying US grids. Google signed an agreement with Kairos Power to construct a series of so-called SMRs that use molten-salt cooling technology. The move …

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IEA Sees Oil Surplus Looming, Reassures on Iran Supply Risk

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Summary IEA cuts 2024 demand growth forecast by 40,000 bpd Projection for 2025 raised by 50,000 bpd Oil drops as Iran supply disruption concerns ease (Reuters) – The world oil market is heading for a sizeable surplus in the new year, the International Energy Agency said on Tuesday as it reassured markets that the agency …

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Middle East Supply Disruption Potential Could Send Oil above $100/bbl, Citi Says

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(Reuters) – Citi Research on Monday raised its bull case scenario for oil prices for this quarter and the next one, citing heightened potential of the market to fear or realize supply losses during these months due to growing Middle East conflict. The bank upgraded its bull case for the fourth quarter of 2024 and …

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Oil Plunges as Iran Supply Disruption Concerns Ease, Demand Outlook Weakens

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Summary Brent, WTI down 4% Israeli PM Netanyahu says willing not to strike Iran oil targets OPEC, IAE cut global oil demand growth outlook (Reuters) – Oil prices tumbled more than 4% to a near two-week low on Tuesday due to a weaker demand outlook and after a media report said Israel is willing to not strike …

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Deadly Houston Fire Highlights Pemex’s Grim Safety Record

Conventional Energy, Energy Topics & Technology, Latest, Oil, Pinned Primary, Refineries, US News / By

Accident at Deer Park refinery left at least two workers dead and another 35 people injured. A fatal accident last week at a Houston-area refinery was another reminder of the risks posed by the oil industry that dominates much of the city. The vast Deer Park facility, owned by Mexico’s state-owned oil company Petroleos Mexicanos, …

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OPEC Cuts 2024, 2025 Global Oil Demand Growth View Again

CDN and International News, Conventional Energy, Energy Topics & Technology, Forecasts, Latest, Oil, Tri-Pinned / By

(Reuters) – OPEC on Monday cut its forecast for global oil demand growth in 2024 reflecting data received so far this year and also lowered its projection for next year, marking the producer group’s third consecutive downward revision. The Organization of the Petroleum Exporting Countries in a monthly report said world oil demand will rise …

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Oil Falls Over 2% as China Demand Woes Erase Last Week’s Gains

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

Summary Brent, WTI decline more than 2% China oil imports fall from a year ago for a fifth month in September China flags more fiscal stimulus, leaves out key details on size US to send anti-missile system and troops to Israel, markets remain on edge (Reuters) – Oil prices declined over 2% on Monday, wiping …

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