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(Reuters) – Exxon Mobil Corp on Monday signaled that lower refining margins across the industry and lower natural gas prices will reduce profits in the second quarter. A snapshot of operating factors affecting the quarter suggests earnings per share between $1.50 and $2.40, or about $8.3 billion, which is 17% below market consensus. The preview excludes …
Exxon Signals Q2 Below Market Consensus, Excluding Pioneer Buy Read More »
The amount of natural gas flowing to Freeport LNG’s export plant in Texas fell close to zero on Sunday as Hurricane Beryl roared towards the Texas coast, with the amounts to remain near zero on Monday, according to data from financial firm LSEG. “We have safely ramped down production at our liquefaction facility and intend …
Texas Freeport LNG Natgas Flows Fall to Near Zero Ahead of Hurricane Beryl Read More »
Hedge funds bought commodity sensitive stocks in the week to July 5 at the fastest pace in five months, said a Goldman Sachs note to clients seen by Reuters on Monday. Energy stocks fell last week as Tropical Storm Beryl battered the Caribbean. Chevron Corp, Exxon Mobil and Shell all declined between about 0.5% and just over 1.5% over the …
Hedge Funds Buy Commodity Stocks at Fastest Pace in Five Months, Says Goldman Read More »
U.S. oil refiners are expected to have about 260,000 barrels per day (bpd) of capacity offline in the week ending July 12, decreasing available refining capacity by 151,000 bpd, research company IIR Energy said on Monday. Offline capacity is expected to remain unchanged at 260,000 bpd in the week ending July 19, IIR added. The …
U.S. Oil Refiners’ Weekly Capacity Seen Down 151,000 Bpd, IIR Says Read More »
North Dakota governor with energy expertise is a VP contender Strategists say his charm and rural roots could lure moderates Donald Trump and Doug Burgum in Las Vegas.Photographer: Ian Maule/Bloomberg About this time last year, voters didn’t know the name Doug Burgum. Just to get on a debate stage with other Republican presidential primary contenders, he …
North Dakota Governor With Energy Expertise Emerges as Trump VP Contender Read More »
HOUSTON, July 8 (Reuters) – The Texas energy industry braced for Hurricane Beryl’s impact on Monday, with threats from the powerful storm forcing the closure of key oil and gas shipping ports, slowing refining and prompting the evacuation of some production sites. Beryl, which made landfall near Matagorda, Texas, packing maximum sustained winds of 80 …
Texas Energy Industry Braces for Beryl as Storm Makes Landfall Read More »
(Reuters) – Oil prices settled lower on Friday as the rising possibility of a ceasefire deal in Gaza outweighed strong summer fuel demand and potential supply disruptions from Gulf of Mexico hurricanes. Brent crude futures settled down 89 cents, or 1.02% lower, to $86.54 a barrel, after reaching their highest since April earlier in the …
Oil Settles 1% Lower as Mideast Ceasefire Talks Ease Supply Disruption Concerns Read More »
Tropical Storm Beryl is expected to have little impact on U.S. offshore oil and gas production, energy companies said on Friday while evacuating personnel from some facilities out of caution. Beryl was downgraded from a hurricane and shifted over Mexico’s Yucatan Peninsula with maximum sustained winds dipping to 70 mph (113 kph), the U.S. National …
Tropical Storm Beryl to Have Little Impact on U.S. Offshore Oil Output Read More »
Shell, Total, BP and Mitsui will each take 10% stake Ruwais will raise the UAE’s export capacity to 15.4m tons/year Four international companies have agreed to invest in Abu Dhabi National Oil Co.’s next liquefied natural gas export project, according to people with knowledge of the matter. Shell Plc, TotalEnergies SE, BP Plc and Mitsui & Co. will each take a …
Shell and BP Among Big Firms Taking Stakes in Adnoc’s LNG Plant Read More »
Gaining a foothold in the refining industry gives traders more options when deciding where to send certain oil grades Bloomberg News Commodities traders flush with cash are buying oil refineries that energy majors are increasingly turning their back on. It’s one of the areas where trading houses — who have long coveted the refining and distribution assets …
Energy Traders are Snapping Up Refineries Away From Big Oil Read More »
