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U.S. oil refiners are expected to have about 1.6 million barrels per day (bpd) of capacity offline for the week ending Feb. 2, decreasing available refining capacity by 322,000 bpd, research company IIR Energy said on Monday. Offline capacity is expected to fall to 1.5 million bpd in the week ending Feb. 9, IIR added. …
U.S. Oil Refiners’ Weekly Capacity Seen Down 322,000 Bpd – IIR Read More »
Private equity firm EnCap Investments is exploring a sale of Grayson Mill Energy that could value the Bakken shale-focused oil and gas producer at around $5 billion, inclusive of debt, people familiar with the matter said on Thursday. EnCap has tapped investment bank Jefferies Financial Group to run a sale of Grayson Mill, the sources …
Deal in the Works? EnCap Eyes $5 billion Sale of Shale Producer Grayson Mill Read More »
Trans Mountain Corp will begin line fill in February on its long-delayed Canadian oil pipeline expansion and expects it to be in service in the second quarter, a company executive said on Wednesday. The C$30.9-billion ($23.05 billion) expansion will nearly triple the flow of crude on Trans Mountain from Alberta to Canada’s Pacific Coast but …
IT’S OFFICIAL: Canada’s Trans Mountain Pipeline to Start Up in Second Quarter Read More »
(Reuters) – Clean electricity generation in the United States hit new highs in 2023 but expanded by its smallest margin in more than a decade, due to below-normal wind speeds and a drop in hydro power output due to drought, data from think tank Ember shows. U.S. clean generation grew by just 0.4% last year, …
U.S. Clean Electricity Momentum Stalls Slightly in 2023 Read More »
Reuters (Reuters) – Valero Energy reported a fall in quarterly profit on Thursday as a slowdown in fuel demand hurt prices, kicking off earnings for U.S. refiners on a dour note. Weaker economic activity and an increase in global refining capacity last year pulled back refining profits from record heights touched in 2022, when disruptions to …
Valero Energy’s Quarterly Profit Falls on Lower Fuel Prices Read More »
U.S. crude oil stockpiles slumped while gasoline inventories jumped last week after winter weather hit crude production and imports, refining, and demand for fuel, the Energy Information Administration said on Wednesday. Crude inventories fell by 9.2 million barrels to 420.7 million barrels in the week ending Jan. 19, the EIA said, compared with analysts’ expectations …
U.S. Crude Stockpiles Slump, Gasoline Builds Amid Winter Storms – EIA Read More »
Trans Mountain Corp will begin line fill in February on its long-delayed Canadian oil pipeline expansion and expects it to be in service in the second quarter, a company executive said on Wednesday. The C$30.9-billion ($23.05 billion) expansion will nearly triple the flow of crude on Trans Mountain from Alberta to Canada’s Pacific Coast but …
Canada’s Trans Mountain Pipeline to Start up in Second Quarter Read More »
Wind turbines when it’s -30°C: Courtesy of GIPHY Consumers in wealthy nations have come to expect a perfectly reliable supply of electricity. Anything less feels almost unimaginable. However, with much of Canada and US, currently experiencing a cold snap often referred to as “winter”, how are electricity and grid operators adapting to keep the heat …
Electricity in the Depths of Winter – ENERGYminute Read More »
Reuters U.S. oil refiners are expected to have about 1.9 million barrels per day (bpd) of capacity offline for the week ending Jan. 26, decreasing available refining capacity by 178,000 bpd, research company IIR Energy said on Wednesday. Offline capacity is expected to further fall to 1.58 million bpd in the week ending Feb. 2, …
US Oil Refiners’ Weekly Capacity Seen Down 178,000 Bpd -IIR Read More »
International Energy Agency data shows the cartel and its allies may need to restrain supplies all year. OPEC’s mission to defend oil prices this year is starting to look even harder. The cartel and its allies launched new production cuts this month to stave off a global oil surplus, and group leader Saudi Arabia said …
