Conventional Energy

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Canada Energy Regulator approves the first compressed natural gas facility in the NWT

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The Inuvialuit Energy Security Project is expected to provide sustainable energy for the next 50 years CALGARY, AB, March 7, 2024 /CNW/ – The Commission of the Canada Energy Regulator (CER) has approved the Inuvialuit Energy Security Project (IESP) Energy Centre with 20 conditions. The project will convert natural gas into compressed natural gas, propane, and synthetic diesel that can be …

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U.S. Natgas Prices Little Changed Ahead of Federal Storage Report

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U.S. natural gas futures were little changed on Thursday as the market waited for direction from a federal report expected to show a much smaller-than-usual storage withdrawal last week when warmer-than-normal weather kept heating demand low. That lack of price movement came despite a bearish low amount of gas flowing to liquefied natural gas (LNG) …

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Hess Says Reviewing Timeline for Closing of Chevron Deal

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil, US News / By

U.S. oil producer Hess said on Thursday it was reviewing the timeline for closing its merger with Chevron, after oil major Exxon Mobil signaled a potential counter offer for Hess’s Guyana assets. Exxon on Wednesday filed a contract arbitration claim related to Hess’ proposed sale of its Guyana oil properties and suggested it may counter Chevron’s pending …

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TC Energy Confirms Latest Round of Job Cuts; Unspecified Number of Employees Affected

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

CALGARY — TC Energy Corp. has cut an unspecified number of jobs, primarily in Calgary and Houston, the pipeline company confirmed Wednesday. A company spokesperson said in an emailed statement the layoffs relate to TC Energy’s previously announced plans to integrate its Canada, U.S. and Mexico natural gas pipelines business units. The new job cuts …

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Oil Prices Slip on View U.S. Rate Cuts Could be Delayed

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Summary Delayed rate cut expected, likely to buoy dollar China Jan-Feb crude imports rise U.S. crude stocks rose as gasoline, distillate stocks drop LONDON, March 7 (Reuters) – Oil prices slipped on Thursday as expectations that U.S. interest rate cuts could be delayed capped gains, though upbeat Chinese trade data augured well for demand in …

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U.S. Crude Stocks Rise More than Forecast as Refining Ramps Up – EIA

Conventional Energy, Energy Storage, Latest, Oil, US News / By

U.S. crude oil stockpiles last week rose less than expected as refining rates picked up sharply, data from Energy Information Administration (EIA) showed on Wednesday. Crude inventories rose for a sixth week in a row, building by 1.4 million barrels to 448.5 million barrels in the week ended March 1, the EIA said. Analysts had …

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Gas Prices Jump as Top US Driller Slashes Output to Fight Glut

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Mild weather has sent US natural gas prices tumbling EQT cut production by 1 bcf per day starting in late February US natural gas prices surged after EQT Corp., the nation’s largest producer, said it will slash output after an unseasonably warm winter and the resulting supply glut triggered a price collapse. EQT will curtail about …

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Oil Up as OPEC+ Cuts Override China, US Demand Concerns

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

Summary China 5% growth target lacks concrete stimulus plans Investors on alert for U.S. rate cut signals Some oil supply tightness with OPEC+ cut extension LONDON, March 6 (Reuters) – Oil prices rebounded slightly on Wednesday after four days of declines as signs of supply tightness amid output cuts by major producers overrode demand concerns …

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Return of U.S. Oil Sanctions Would Clip Venezuela’s Output Gains

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A possible re-imposition of U.S. oil sanctions on Venezuela next month would stagnate the OPEC-member country’s crude output, wiping out the small gains it has achieved in recent years, analysts said on Tuesday. Washington has said it will allow to expire a temporary license it granted last year to Venezuela as part of negotiations for …

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Biden’s Scaled-Back Power Rule Raises Doubts Over U.S. Climate Target

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(Reuters) – The Biden administration’s decision to exclude the existing U.S. fleet of natural gas power plants from upcoming carbon emissions regulations raises questions over the nation’s ability to meet its climate goals, according to researchers. Cleaning up the U.S. power industry, source of about a quarter of the nation’s greenhouse gas emissions, has been …

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