Conventional Energy

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Kremlin Says it Cannot Confirm Report on Planned NationaliZation of Energy Companies

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

(Reuters) – The Kremlin said on Wednesday it could not confirm a report that Russia’s energy minister had put forward a proposal to nationalize the energy sector. Russian authorities have repeatedly said they have no plans to de-privatize large companies, including oil and gas producers. On Tuesday, a Telegram channel called EJ, citing unnamed sources, …

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Diamondback Energy Raises Third-Quarter Production Forecast

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

(Reuters) – U.S. shale producer Diamondback Energy raised its third-quarter production forecast on Tuesday to reflect its $26 billion acquisition of Endeavor Energy. The Texas-based company completed its acquisition of Endeavor Energy last month, making it the third-largest oil and gas producer in the top U.S. shale region, the Permian Basin, putting it just behind industry giants Exxon …

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OPEC+ Doing ‘Noble’ Job of Balancing Oil Market, Says UAE

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

Summary Minister makes comments hours before OPEC+ committee meets Says many moving factors in short term including geopolitics Comments echo those of Russia’s Novak on Monday Says OPEC+ sacrificed more than other producers (Reuters) – United Arab Emirates Energy Minister Suhail al-Mazrouei said on Wednesday OPEC+ was doing a noble job of balancing the oil …

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OPEC+ Set to Keep Output Policy Unchanged at Panel Meeting

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

Summary OPEC+ joint ministerial monitoring committee meets on Wednesday Unlikely to change production agreement, two sources say Compliance with cuts by Iraq and Kazakhstan under scrutiny (Reuters) – An OPEC+ ministerial panel scheduled to meet on Wednesday is unlikely to recommend any changes to policy, allowing the group to start gradually increasing production from December, …

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Natgas Producer EQT Corp to Lay Off 15% of Workforce

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

EQT Corp said on Tuesday it would lay off about 15% of its workforce as part of an “integration process” following its $14 billion acquisition of Equitrans Midstream. This marks the natural gas producer’s biggest job cut since 2019, when it laid off about 23% of its workforce just months after Toby Rice joined the …

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Permian Gas Starts Flowing on Matterhorn Pipeline in Texas

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

Pipeline is moving about 0.3 bcf per day into Transco Permian has long struggled with not enough pipeline capacity Matterhorn Express Pipeline has begun transporting natural gas into Williams Cos.’s Transco pipeline, a long-awaited addition to midstream infrastructure serving the Permian Basin. Matterhorn is moving about 0.3 billion cubic feet per day into Transco, an established pipeline …

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LNG Supplier New Fortress Falls After Delaying Dividend Paymen

Conventional Energy, Latest, LNG, US News / By

Company delays payout as it seeks agreement with debtholders Second LNG export cargo is heading to Europe, firm says Shares of New Fortress Energy Inc. plunged as much as 16% after the US-based natural gas provider delayed its dividend payment. The company founded by Wes Edens said its previously declared dividend of $0.10 a share will be delayed until it …

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Britain to Become First G7 Country to End Coal Power as Last Plant Closes

Coal, Conventional Energy, Latest / By

(Reuters) – Britain will become the first G7 country to end coal-fired power production on Monday with the closure of its last plant, Uniper’s  Ratcliffe-on-Soar in England’s Midlands. It will end over 140 years of coal power in Britain. In 2015 Britain announced plans to close coal plants within the next decade as part of wider …

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Brent Oil Traders Use Little Known Rule to Reroute US Cargoes

Conventional Energy, Latest, Oil, US News / By

Summary Platts added U.S. crude to benchmark last year Thomson Reuters competes with Platts in assessing prices Rerouting could influence price, analysts say (Reuters) – Big energy merchants trading oil cargoes that form the basis of the Brent benchmark have used an obscure clause to reroute U.S. shipments from Europe, in a practice that raises …

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FTC Allows Chevron-Hess Deal, Bars John Hess From Board

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil, US News / By

The U.S. Federal Trade Commission allowed Chevron’s $53 billion purchase of Hess Corp on Monday, in an order that barred Hess CEO John Hess from Chevron’s board. The FTC’s order leaves Exxon Mobil’s challenge to the deal, which is expected to stretch deep into next year, as its final hurdle. The proposed merger included a Chevron …

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