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(Reuters) – BP was purging its 435,000 barrel-per-day (bpd) Whiting, Indiana, refinery of hydrocarbons on Thursday after a transformer failure caused a plant-wide power outage and forced an evacuation of all but the most essential workers, said people familiar with plant operations. It is not yet clear how long it will take BP to restart the …
Power Loss Forces BP to Shut Biggest U.S. Midwest Refinery Read More »
(Reuters) – Exxon Mobil Corp said in a court filing on Thursday activist investors were withdrawing a climate proposal the oil giant sought to block from being voted on during a shareholder meeting in May. Exxon filed a complaint in a Texas court earlier this month seeking to prevent activist investment firm Arjuna Capital and …
Exxon Says Investors to Withdraw Climate Proposal from Annual Shareholder Meeting Read More »
(Reuters) – Chevron Corp on Friday beat analysts’ earnings estimates and increased dividends on higher oil and gas production, after a year of sharply lower profits on missteps and charges. Shares in the pre-trading market rose a fraction after the company beat analysts’ consensus forecast by 24 cents with adjusted earnings of $3.45 per share in …
Chevron Beats Q4 Estimates, But Annual Profits Fall Nearly 40% Read More »
(Reuters) – Exxon Mobil on Friday posted a better-than-expected $36 billion profit for 2023, lifted by fuels trading and higher oil and gas production. Oil majors are expected to report 2023 profits down by about a third from record levels in 2022, as oil and gas prices retreated from the peaks that followed Russia’s invasion of …
Exxon Beats Estimates, Ends 2023 With a $36 Billion Profit Read More »
A top U.S. Energy Department official will testify at Feb. 8 Senate Energy Committee hearing looking into President Joe Biden’s pause on new approvals for liquefied natural gas (LNG) exports, the Energy Department said on Thursday. Biden paused the approvals last week so his administration can look into the environmental and economic impacts of the …
U.S. natural gas futures on Thursday held near a nine-month low on forecasts for the weather to remain warmer than normal through at least the middle of February, keeping heating demand for the fuel low. That lack of price movement occurred despite a bullish drop in output so far this week and forecasts for more …
U.S. Natgas Prices Hold Near 9-Month Low on Mild Weather Forecasts Read More »
U.S. oil and gas drilling has slowed in response to the fall in prices over the last 18 months, but that has not yet translated into slower production, keeping prices under pressure. Exploration and production firms have continued to increase output despite drilling fewer wells, by concentrating on the best sites, accelerating drilling times and …
Rising U.S. Oil Production Frustrates OPEC+ Cuts: John Kemp Read More »
The US House of Representatives will vote on overturning the Biden administration’s freeze on liquefied natural gas export approvals, a top Republican said Wednesday. The vote will take place the week after next, Representative Cathy McMorris Rodgers, who chairs the House Energy and Commerce Committee, said during an interview. The White House announced Friday it was halting approval of new …
Energy and Politics: House to Vote on Reversing Biden’s Natural Gas-Export Freeze Read More »
Summary OPEC+ JMMC panel meeting keeps 2.2 mln bpd cuts Brent crude trades above $81, Middle East tensions support Next JMMC meeting to be held on April 3 LONDON/DUBAI/MOSCOW, Feb 1 (Reuters) – OPEC+ will decide in March whether or not to extend voluntary oil production cuts in place for the first quarter, two OPEC+ …
OPEC+ to Review Oil Cut Extension in March, Ministers Leave Policy Unchanged Read More »
Summary OPEC+ meeting keeps 2.2 mln bpd cuts -sources China reveals support measures after Evergrande liquidation Energy market remains ‘on edge’ over Middle East -analyst LONDON, Feb 1 (Reuters) – Oil prices edged higher on Thursday, boosted by the U.S. Federal Reserve signalling a possible start to interest rate cuts. There was limited immediate price …
Oil Buoyed by U.S. signals on Interest Rate Cuts Read More »
