Conventional Energy

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Ukraine’s Drone Strikes on Russian Oil Refineries Mark New Phase in War

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

Attacks on refineries have both symbolic and strategic goals Kyiv plans to send ever-increasing swarm of drones into Russia Ukraine’s fight against Russia’s invasion has entered a new phase, pitting homegrown drone technology against a 2,000 kilometer (1,200 mile) swathe of largely Soviet-era oil facilities. At least nine major refineries have been successfully attacked this …

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Oil Retreats From Multi-Month Highs Ahead of Fed Decision

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

Summary Crude falls from multi-month highs Investors await U.S. Federal Reserve interest rate announcement U.S. crude, gasoline stocks fell last week – API LONDON, March 20 (Reuters) – Oil prices edged lower on Wednesday after hitting multi-month highs in the previous session, as investors braced for the U.S. Federal Reserve’s interest rate policy announcement later …

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EQT CEO Warns Lack of Gas Storage Will Trigger Price Gyrations

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

Toby Rice says prices could eventually swing as high as $8 ‘This is the world we live in unless we get serious,’ he said The chief of the largest US producer of natural gas has warned that a lack of pipelines and storage facilities will trigger dramatic price swings in the years ahead, causing them …

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Freeport LNG to Increase Production by 10% Following Repairs

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

Debottlenecking maintenance underway through early May Additional capacity to be marketed directly by Texas producer Freeport LNG will increase its production of liquefied natural gas following repairs that are due to be concluded in early May, the company’s chief executive officer said in an interview. Maintenance will increase the Texas facility’s capacity to 16.5 million metric …

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Exxon Mobil Eyes 2 Million Bpd of Output in the Permian by 2027

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

Exxon Mobil will bring its Permian basin output up to 2 million barrels per day by 2027, while it also ramps up production in Guyana, Vice President of Global Exploration John Ardill said on Tuesday at a conference in Houston. Exxon has grown its position in the Permian significantly since 2017, when it acquired some …

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U.S. Oil Output to Exceed 14 Million bpd and Then Plateau, Says Conoco chief

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U.S. oil production will grow to exceed 14 million barrels per day and then plateau, ConocoPhillips CEO Ryan Lance forecast on Tuesday. Output in the top U.S. shale field, the Permian basin of West Texas and New Mexico, will rise between 300,000 bpd and 400,000 bpd this year, he said in remarks at the CERAWeek energy energy …

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Chevron Surprised When Exxon Filed for Arbitration Over Guyana – CEO

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HOUSTON, March 19 (Reuters) – Chevron  was surprised when Exxon Mobil  filed for arbitration over Chevron’s plans to buy Hess’s  Guyana oilfield stake, Chevron CEO Michael Wirth said on Tuesday. The dispute threatens to derail Chevron’s $53 billion takeover of Hess. The 30% stake in the prolific Exxon-operated Stabroek oilfield in Guyana is Hess’s most valuable asset. Exxon says …

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ConocoPhillips CEO Calls for U.S. to End LNG Permit Pause in November

Conventional Energy, Latest, LNG, US News / By

Executive says freeze on US licenses should end after election Ryan Lance criticizes policy for driving down activity The Biden administration’s pause on liquefied natural gas export licenses needs to end after November’s presidential election, said Ryan Lance, chief executive of ConocoPhillips, the Houston-based oil and gas producer with a growing LNG business. “Customers are …

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Big Oil Executives Push Back Against Calls for Fast Energy Transition

Conventional Energy, Latest, Natural Gas, Oil, Pinned Primary, Renewable Energy, Solar, US News, Wind / By

Top oil executives took to the stage of a major energy conference on Monday to vocally oppose calls for a quick move away from fossil fuels, saying society would pay a steep cost to replace oil and gas. Big oil companies including BP and Equinor have written down renewable energy projects and others have been forced to …

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Alaska LNG Seeks Funding on Path to Final Investment Decision in 2025

Conventional Energy, Latest, LNG, US News / By

Alaska Gasline Development Corp (AGDC) said on Monday it was working to secure funding for Front-End Engineering Design (FEED) for its proposed Alaska LNG project in 2024, which would lead to a final investment decision (FID) in 2025. FEED focuses on technical requirements and identifying main costs for a proposed project. Alaska LNG, which is …

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