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U.S. Accuses Venezuela of Electoral Manipulation, Repression

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

U.S. President Joe Biden’s administration on Monday accused Venezuela of electoral manipulation and repression and said Caracas’ announcement that President Nicolas Maduro had won a third term in office had been stripped of “any credibility.” Biden administration officials, briefing reporters about the vote on condition of anonymity, did not announce any new punitive measures but …

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U.S. Buys 4.65 Million Barrels for Emergency Oil Stockpile

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

The U.S. Department of Energy said on Monday it had finalized a contract to purchase 4.65 million barrels of crude oil for the Strategic Petroleum Reserve, for delivery to the Bayou Choctaw site in Louisiana during the last three months of the year. Exxon Mobil will supply 3.9 million barrels of the contract, while Macquarie Commodities …

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Oil Prices Rise on Fears of Wider Middle East Conflict After Rocket Strike in Golan Heights

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

(Reuters) – Oil prices rose on Monday, paring last week’s loss, on fears of a widening conflict in the Middle East following a rocket strike in the Israeli-occupied Golan Heights, which Israel and the United States blamed on Lebanese armed group Hezbollah. Brent crude futures gained 20 cents, or 0.3%, to $81.33 a barrel at 0010 …

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Harris Backs Off Fracking Ban as GOP Campaigns on Past Position

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

Harris supported ban on extraction method as candidate in 2019 Reversal shows focus on vice president after Biden dropped out Vice President Kamala Harris’ campaign said she doesn’t support a ban on fracking, reversing a stance she took on the hot-button oil and gas extraction technique as a presidential candidate in 2019. Harris’ previous anti-fracking position …

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U.S. May ‘Calibrate’ Venezuela Sanctions Policy Post-Election, Officials Say

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The Biden administration will “calibrate” its sanctions policy towards Venezuela depending on how the high-stakes election unfolds in the OPEC nation on Sunday, U.S. officials said, signaling that Washington could ease punitive measures if President Nicolas Maduro holds a fair vote. But the U.S. also put Maduro on notice that if he claims victory without …

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Ruling Paves Way to Restart Work on Exxon’s Texas LNG Plant

Conventional Energy, Latest, LNG, US News / By

Bankruptcy judge approves settlement with contractor Zachry Other companies will finish Zachry’s work on Golden Pass plant A bankruptcy judge this past week approved a settlement between the joint venture building Exxon Mobil Corp.’s $10 billion gas export project in Texas and lead contractor Zachry Holdings Inc., allowing other companies to finish work on the plant. …

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Freeport LNG Hub to Restart Three Production Trains in Early August

Conventional Energy, Latest, LNG, US News / By

Freeport LNG, the US’s second-largest export facility, is targeting the restart of all production lines in early August, according to people with direct knowledge of the matter. The Texas plant reduced production before Hurricane Beryl made a landfall earlier this month and caused wide-spread power outages. Loadings from the liquefied natural gas terminal outside of Houston were …

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Why U.S. LNG Is Attracting Foreign Investment

Conventional Energy, Latest, LNG, US News / By

Woodside’s acquisition of Tellurian highlights the appeal of exporting American natural gas. Australia’s Woodside Energy Group Ltd. made a bold leap into US liquefied natural gas with its agreement to acquire Tellurian Inc. for $900 million in cash. Tellurian owns Driftwood, a proposed multibillion-dollar LNG export terminal in Louisiana. The takeover could make Woodside the second foreign …

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U.S. Crude Oil Prices Retreat Amid Doubts About Further Stock Draw

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

By John Kemp (Reuters) – U.S. crude oil inventories have depleted faster than normal over the last four weeks – squeezing hedge funds running short positions, keeping spot prices firm and the futures curve in a steep backwardation. But with most short positions now repurchased this source of support has melted away and both spot prices …

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Baker Hughes Sees Lower North America Activity; Bets on Foreign Demand

Conventional Energy, Drilling Rigs, Energy Topics & Technology, Latest, OFS-Oilfield Services, Oil, Pinned Primary, US News / By

By Reuters (Reuters) – Baker Hughes  cut its outlook for spending by oil producers on Friday, citing lower drilling activity by North American companies, joining other oilfield service companies in warning about softness in the region. However, the company raised its full-year revenue and profit estimates, banking on strong international growth and demand for gas equipment. …

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