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Ercot urges people to conserve energy Tuesday morning Texas grid holds up Monday despite record demand for winter Texas faces another power grid test Tuesday after surviving record winter demand as freezing weather strains electricity systems across North America. While the state’s grid held up Monday, its operator issued a conservation plea for 6 a.m. …
Texas Sets New Electricity Record, Faces More Tests From Freeze Read More »
At least six further oil tankers have either diverted their course away from, or paused before entering the southern Red Sea since the weekend, ship tracking data from LSEG and Kpler show. That takes the total number of shipping disruptions counted by Reuters to at least fifteen in total since the U.S.-led strikes on Houthi …
More Oil Tankers shun Southern Red Sea After U.S.-led Strikes in Yemen Read More »
By John Kemp (Reuters) – Global consumption of petroleum and other liquids hit a record high last year and is forecast to increase further in both 2024 and 2025, but that does not necessarily mean prices must rise to ensure demand is met. Worldwide consumption averaged 101.1 million barrels per day (b/d) in 2023, narrowly beating …
Oil Consumption and Prices Revert to Trend – John Kemp Read More »
(Reuters) – The Canada Energy Regulator (CER) on Friday approved a request for a change in construction for the final stretch of the Trans Mountain oil pipeline expansion project, clearing the path for its completion early this year. The C$30.9-billion ($23.05 billion) expansion will nearly triple the flow of crude on Trans Mountain from Alberta …
DONE DEAL! Canadian Trans Mountain Oil Pipeline Change Approved by Canadian Regulator Read More »
The U.S. on Friday proposed a fee on emissions of methane from big oil and gas producers as required under the 2022 climate law and as a backstop to wider regulations on the greenhouse gas from energy operations. The fee, proposed by the Environmental Protection Agency, applies to large oil and gas facilities that report …
U.S. Proposes Fee on Methane from Big Oil and Gas Producers Read More »
Jan 12 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by two to 619 …
U.S. Drillers cut Oil and Gas Rigs for Second Week in a Row – Baker Hughes Read More »
Both crude distillation units (CDUs) and two vacuum distillation units (VDUs) shut down on Thursday at TotalEnergies 238,000 barrel-per-day (bpd) Port Arthur, Texas refinery, sources familiar with plant operations said on Thursday. The units, which convert crude oil into feedstock for all other units at the refinery, were shut following a malfunction on the gasoline-producing fluidic …
All Crude Units Shut at TotalEnergies Texas Refinery Read More »
(Reuters Breakingviews) – Chesapeake Energy is the latest to join the fossil-fuel merger rush, and has the benefit of safety in numbers. That’s true in two ways: first, because its $7.4 billion purchase of Southwestern Energy is financially attractive for Chesapeake shareholders, and secondly because Boss Nick Dell’Osso is treading an M&A path that rivals like Exxon Mobil and …
Breaking It Down: Chesapeake $7.4 Bln Deal Finds Safety in Numbers Read More »
Country seeks to maintain position as a key supplier to Europe As many as 50 wells are expected to be drilled: directorate Norwegian oil and gas companies will drill more exploration wells this year as the country seeks to maintain its position as a key supplier to Europe. Between 40 and 50 wells are expected to be …
Norway’s Oil and Gas Companies to Step Up Exploration This Year Read More »
(Reuters) – Chesapeake Energy (CHK.O) said on Thursday it would buy smaller rival Southwestern Energy (SWN.N) in an all-stock transaction valued at $7.4 billion, a deal that would enable the second-largest U.S. natural gas producer to take the top spot. The move extends a recent spate of multi-billion deals in the U.S. energy sector including Exxon Mobil’s (XOM.N) $60-billion Pioneer Natural …
