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Energy executives warn that it will be a long and costly journey, while activists and analysts say there are significant rewards and little time to waste. The nations of the Gulf know that the world’s shift to cleaner energy could change everything: Their economies today depend on demand for oil and gas, and their efforts …
HOUSTON, April 26 (Reuters) – Exxon Mobil Corp on Friday missed analysts’ estimates with a 28% year-on-year drop in first quarter profits as weaker refining margins and lower natural gas prices offset volume gains. The largest U.S. oil company, which is in the process of closing a $60 billion deal for top shale oil producer …
Exxon Misses on Q1 Profit Despite Big Gains in Guyana Read More »
(Reuters) – Oil prices rose on Friday, on track to end higher this week after two straight weeks of losses, after a top U.S. official expressed optimism over economic growth and as supply concerns lingered due to conflicts in the Middle East. Brent crude futures gained 19 cents, or 0.2%, to $89.20 a barrel at …
Oil Prices on Track to Snap Two-Week Losing Streak Read More »
Top executives of U.S. liquefied natural gas developer Tellurian Inc could earn tens of millions of dollars if its proposed Driftwood LNG plant gets a green light, or if company is sold, a proxy filing released on Thursday showed. Tellurian had previously said that it was looking at all options, including a potential sale, to …
Top Tellurian Executives Poised for Big Payday if LNG Plant Goes Ahead Read More »
The second-largest U.S. liquefied natural gas (LNG) export facility has been running below 80% of its capacity due to technical problems, data from financial firm LSEG showed, denting U.S. exports. Since Jan. 15, Freeport LNG’s Quintana, Texas, liquefaction plant has been operating without at least one of its three gas-processing trains. In the last two …
As Demand for U.S. LNG Booms, One Plant Struggles to Stay Online Read More »
U.S. natural gas futures eased on Thursday, having hit their lowest in a month earlier in the session, as the federal data showing a bigger-than-expected storage build last week added pressure to the market. Front-month gas futures for May delivery on the New York Mercantile Exchange traded 1.9 cents lower, or 1.1%, to $1.63 per …
U.S. Natgas Prices Ease on Larger-Than-Expected Storage Injection Read More »
Coal plants must stifle most of their carbon or close by 2039 Emissions cuts will start to hit new gas plants in 2032 Bloomberg The Biden administration is cracking down on planet-warming pollution from the nation’s electricity sector, with mandates likely to encourage the closure of coal plants that advocates argue are vital to meet …
Biden’s Power-Plant Pollution Rule Collides With Soaring Demand Read More »
MIAMI (AP) — A company started by a Texas billionaire oilman announced a deal Wednesday with Venezuela’s state-owned oil company to rehabilitate five aging oil fields, days after the Biden administration put a brake on sanctions relief over concerns about the fairness of the country’s upcoming presidential election. LNG Energy Group is a publicly traded company …
Billionaire Texas Oilman Inks Deal With Venezuela’s State-Run Fuel Giant Read More »
HOUSTON, April 24 (Reuters) – Technology advances are making it possible for U.S. shale oil and gas companies to reverse years of productivity declines, but the related requirement to frontload costs by drilling many more wells is deterring some companies from doing so. While overall output is at record levels, the amount of oil recovered …
New Technology Helps U.S. Shale Oil Industry Start to Rebuild Well Productivity Read More »
The first tanker in 12 days set sail from Freeport LNG’s Texas export terminal on Tuesday, signaling the resumption of gas processing after an outage this month. Freeport LNG, one of the largest U.S. liquefied natural gas export facilities, has suffered several outages this year with all processing units recently out of service, pressuring U.S. …
First Tanker in 12 Days sets sail from Freeport LNG in Texas Read More »
