Conventional Energy

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AI Power Demand Complicates Low-Carbon Goals, Dominion CEO Says

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

Data centers make it harder to retire fossil-fuel plants Demand also spiking from new factories and electric vehicles The boom in power demand from data centers and artificial intelligence creates a conflict between maintaining a reliable grid and cutting carbon emissions, according to the head of Dominion Energy Inc. “There’s a little bit of tension there …

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Republican Sweep Opens Way to Boost Oil and Gas Development

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‘Slight’ limits likely on Biden clean energy tax incentives GOP also likely to roll back Biden environmental regulations Republicans are poised to pave the way to expand fossil fuel development, roll back Biden-era environmental regulations and curtail President Joe Biden’s signature climate law after securing unified control of Congress and the White House. Republicans completed the feat …

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Exxon Plans to Cut Almost 400 Pioneer Jobs in Texas by 2026

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Cuts will come mainly in Pioneer’s Irving and Midland offices More than 1,900 Pioneer employees were offered Exxon roles Exxon Mobil Corp. plans to lay off 397 employees from Pioneer Natural Resources Co. after purchasing the Permian Basin operator for $63 billion earlier this year. The cuts representing almost 20% of Pioneer’s pre-merger staff will come in seven …

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Carbon Markets Give Environmentalists Hope After U.S. Elections

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By Ross Kerber (Reuters) – The opinions expressed here are those of the author, a columnist for Reuters. A rare bright spot for environmentalists in last week’s U.S. election results came in Washington State, where voters easily defeated an attempt to end the state’s carbon market by a margin of 62% to 38%. Analysts said the result …

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Inflation Pushes Norway’s Oil, Gas Sector to Record Investments

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

Summary Statistics office conducts oil, gas investment survey 2024 forecast steady vs August, 2025 outlook raised Rising costs drive up price of new field developments (Reuters) – Investment in Norwegian oil and gas projects will rise to a record this year and may increase further in 2025 as inflation pushes up the costs of development, …

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World Faces Oil Surplus in 2025 on Weak Demand, IEA Says

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Summary Sees supply exceeding demand by over 1 mln bpd in 2025 IEA raises 2024 demand growth forecast by 60,000 bpd Leaves 2025 demand growth projection steady at 990,000 bpd (Reuters) – Global oil supply will exceed demand in 2025 even if OPEC+ cuts remain in place, the International Energy Agency (IEA) said on Thursday, …

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Venture Global LNG Plans to Raise $3 Bln From U.S. IPO, Sources Say

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Venture Global LNG is planning to raise about $3 billion from its initial public offering in New York that could come as soon as this year, according to people familiar with the matter. Venture Global is working with banks, including Goldman Sachs and JPMorgan Chase, on the listing plans, the people said. The Arlington, Virginia-based …

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Devon Energy Sees US Crude Oil at $60-$80 Per Barrel for Foreseeable Future

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Benchmark U.S. West Texas Intermediate (WTI) crude oil will cost $60-$80 per barrel in the foreseeable future, shale producer Devon Energy’s chief executive officer told attendees at an energy conference in Dallas on Wednesday. That price forecast is within the range where U.S. crude has traded for much of the year. It settled at $68.43 …

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Ridgemar’s Owner Explores $1 Billion-Plus Sale of US Oil Producer, Sources Say

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By Shariq Khan and David French NEW YORK, Nov 13 (Reuters) – The private equity owner of Ridgemar Energy is exploring a sale of the U.S. oil and gas producer that could value the company at more than $1 billion, including debt, people familiar with the matter told Reuters on Wednesday. Ridgemar, which is backed …

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Trump Pick Rubio Could Harden Oil Sanctions on Iran, Venezuela

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

By Timothy Gardner and Vivian Sequera Stricter targeting of Iranian oil could be tempered by China concerns Trump will need to determine if sanctions can help achieve his goals Foreign ports, refineries processing Iran exports could be targeted WASHINGTON/CARACAS Nov 13 (Reuters) – President-elect Donald Trump’s pick of U.S. Senator Marco Rubio for secretary of …

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