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(Reuters) – OPEC+ oil supply cuts and recent efforts to unwind them have increased volatility in energy markets and hampered investment in new production, the CEO of Italian energy company Eni said on Monday. Speaking at an industry event in Abu Dhabi, Claudio Descalzi said he expected high volatility in the energy markets experienced in …
Alternative investment manager is leaning into data centers Operators of the facilities looking for new power sources Soaring demand for data centers to support artificial intelligence and cloud-computing will boost global spending in the sector to $250 billion a year, according to KKR & Co. The US is the biggest developer of data centers. That infrastructure …
KKR Sees $250 Billion Spent Annually From Data Center Boom Read More »
U.S. energy regulators rejected an amended interconnection agreement for an Amazon data center connected directly to a nuclear power plant in Pennsylvania, a filing showed on Friday. Members of the Federal Energy Regulatory Commission said the agreement to increase the capacity of the data center located on the site of Talen Energy’s Susquehanna nuclear generating …
US Regulators Reject Amended Interconnect Agreement for Amazon Data Center Read More »
Chemical maker LyondellBasell Industries on Friday detailed its long-announced plan to permanently shutter its 263,776 barrel-per-day (bpd) Houston oil refinery in the first quarter of 2025. The planned closing marks the latest in a wave of U.S. refinery closures as motor fuel demand is expected to peak this decade and decline under pressure from renewable …
Another U.S. Oil Refinery to Vanish with Lyondell Houston Plant Closing Read More »
(Reuters) – Enbridge posted a more than twofold jump in its third-quarter profit on Friday, as the Canadian pipeline operator benefited from steady oil demand. Data from the U.S. Energy Information Administration showed that total U.S. oil consumption rose in July to the highest seasonal level since 2019. Demand for gasoline was also at the highest seasonal levels …
Pipeline Operator Enbridge’s Q3 Profit More Than Doubles on Steady Oil demand Read More »
Bloomberg News A surge in energy demand from technology giants that are rapidly developing cloud computing and artificial intelligence — known as hyperscalers — is becoming a major boon for the fossil fuel industry. That’s was the view of Murray Auchincloss, chief executive officer of BP Plc, who sees the technology sector’s hunger for reliable energy supplies …
Big Oil Sees AI Boom Driving ‘Crazy Demand’ for U.S. Natural Gas Read More »
Deal still needs the approval of Neuquen Province, person says Exxon is exiting Vaca Muerta shale patch to focus elsewhere Exxon Mobil Corp. has agreed to sell most of its assets in Argentina’s Vaca Muerta shale patch to Pluspetrol SA, according to people familiar with the matter. The province of Neuquen, where the assets are located, has …
Exxon Agrees to Sell Argentina Shale Oil Assets to Pluspetrol Read More »
While Lightning sales are up this year, they are far short of Ford’s ambitious expectations Bloomberg News Ford Motor Co. plans to shut down the Michigan factory that produces its F-150 Lightning plug-in pickup truck, its signature electric vehicle, through the end of the year as demand for EVs continues to wane. The move is the latest …
Struck by Lightning: Ford to Halt F-150 Lightning Production at Michigan Plant Read More »
Summary Shell extends $3.5 bln share buybacks Strong LNG sales offset drop in refining Debt drops to lowest since 2015 LONDON, Oct 31 (Reuters) – Shell reported on Thursday third-quarter profits of $6 billion that exceeded forecasts by 12% as higher liquefied natural gas (LNG) sales offset a sharp drop in oil refining and trading …
Shell’s $6 Billion Profit Smashes Forecasts as LNG Offsets Weak Refining Read More »
Chevron earnings fail to cover dividends, buybacks Delayed Hess deal a drag on the company’s share price Guyana volumes crucial for long-term oil output gains (Reuters) – Five years ago, Chevron CEO Michael Wirth won Wall Street acclaim as the No. 2 U.S. oil company briefly achieved a market value larger than Exxon Mobil’s after he …
Chevron CEO Under Pressure to Halt Share Slide as Hess Deal Stalls Read More »
