Conventional Energy

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Google Backs Buildout of Small Nuclear Reactors in Kairos Deal

Conventional Energy, Latest, Nuclear, US News / By

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

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

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

Conventional Energy, Latest, Oil, US News / By

(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

Conventional Energy, Latest, Oil, Pinned Primary, US News / By

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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US court Puts on Hold Permits for Kinder Morgan Unit to Build Tennessee Pipeline

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

(Reuters) – A U.S. appeals court on Friday put on hold approvals and permits necessary to allow a Kinder Morgan  subsidiary to construct a 32-mile gas pipeline in Tennessee, at the urging of environmental groups. The proposed Cumberland Project, set to be constructed by Kinder Morgan’s Tennessee Gas Pipeline, could transport about 245,000 dekatherms per day …

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US Expands Sanctions to Iran’s ‘Ghost Fleet’ of Oil Tankers

Conventional Energy, Latest, Oil, US News / By

(Reuters) – The United States expanded sanctions against Iran’s petroleum and petrochemical sectors on Friday in response to an Iranian missile attack on Israel, the administration of President Joe Biden said. The U.S. move adds petroleum and petrochemicals to an executive order that targets key sectors of Iran’s economy with the aim of denying the government …

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Oil Settles Down on Florida Fuel Demand Worries, Mideast Risk Drives Weekly Gains

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

Summary Companies Both benchmarks settle up 1% on the week Investors consider Israel’s response to Iran’s attack last week Hurricane aftermath to weigh on Florida fuel demand Libyan oil production restored to pre-central bank crisis levels HOUSTON, Oct 11 (Reuters) – Oil prices settled lower on Friday but rose for the second straight week as …

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