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Chevron Reports Q2 Earnings Miss on Weak Refining Margins

Energy Topics & Technology, Exploration & Production, Latest, US News / By

(Reuters) – Chevron(CVX.N) reported second-quarter earnings on Friday that missed Wall Street estimates due to industry-wide pressure from lower refining margins and natural gas prices, sending its shares down 1.5% in premarket trading. The company earlier had warned oil output this quarter would slip and refining would suffer from turnarounds at two refineries in California. Refining margins …

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U.S. Recognizes Maduro’s Opponent as Winner in Venezuela Election

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil / By

The United States on Thursday recognized Venezuelan President Nicolas Maduro’s opponent and opposition candidate Edmundo Gonzalez as the winner of Venezuela’s disputed presidential election, rejecting Maduro’s claim of victory. “Given the overwhelming evidence, it is clear to the United States and, most importantly, to the Venezuelan people that Edmundo Gonzalez Urrutia won the most votes …

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Hess Shares Fall Most in 20 Months on Lengthy New Delay to Chevron Sale

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

HOUSTON, Aug 1 (Reuters) – Shares in U.S. oil producer Hess (HES.N) suffered their largest daily percentage drop in 20 months on Thursday on fallout from the lengthy new delay to its proposed sale to Chevron (CVX.N) An arbitration panel organized to hear an Exxon Mobil (XOM.N) challenge to the $53 billion sale will not …

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OPEC+ Sticks to Oil Policy, Repeats Could Pause Oct Hike

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

By Olesya Astakhova, Ahmad Ghaddar, Alex Lawler and Maha El Dahan Russia comfortable with current oil prices Algeria sees demand on upward trend in coming weeks Still some weeks to decide on hike, says source close to OPEC+ MOSCOW/LONDON, Aug 1 (Reuters) – A meeting of top OPEC+ ministers has kept oil output policy unchanged …

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COMMENTARY: Some Weird Stuff is Happening in Energy – Irina Slav

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More From Irina Slav Some weird stuff has been happening in energy and related fields lately. Despite repeated assurances that decarbonisation would be a boon for every economy, we have recently learned that Germany’s GDP slipped into an unexpected contraction in the second quarter and that the UK dropped out of the world’s top 10 …

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Shale-Gas Driller Ovintiv Expands Full-Year Production Targets

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

Shale driller Ovintiv Inc. increased its 2024 production target, the second explorer to do so this year. The company expects to pump the equivalent of 570,000 to 580,000 barrels of crude this year, compared with the previous forecast of 545,000 to 575,000, according to a statement. At the mid ranges of those targets, the increase would …

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North Sea Oil and Gas Producers Say UK Windfall Tax is a ‘Wrecking Ball’

CDN and International News, Conventional Energy, Energy Topics & Technology, Finance, Latest, Oil / By

(Reuters) – Britain’s decision to increase a windfall tax on oil and gas producers to help pay for its push to grow renewables will lead to a sharp drop in revenue and accelerate the ageing basin’s decline, North Sea drillers said. The new Labour government announced on Monday it will increase the Energy Profits Levy (EPL) …

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JetBlue to Buy Sustainable Jet Fuel For Use at New York Airport

Air Travel, Energy Topics & Technology, Latest, US News / By

By Reuters (Reuters) – JetBlue Airways  said on Wednesday it agreed to procure sustainable aviation fuel (SAF) from a unit of U.S. refiner Valero Energy Corp , which would be distributed by energy firm World Kinect , for use in flights from a New York’s airport. Under terms of the deal, World Fuel Services will provide the fuel …

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Green Hydrogen Fever Gets Needed Doses of Reality

Energy Topics & Technology, Hydrogen, Latest, US News / By

(Reuters Breakingviews) – Hot air is seeping out of the green hydrogen bubble. Over the past five years fans of the low-carbon gas have argued it can replace fossil fuel in everything from industrial processes to heating homes to transport. Yet cost and science make many of its applications fanciful. Developments in July at two …

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ConocoPhillips Beats Q2 Profit on Higher Oil Production, Prices

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

(Reuters) – U.S. oil and gas producer ConocoPhillips  posted a second-quarter profit that beat Wall Street estimates on Thursday, benefiting from higher output and oil prices. The beat comes as ConocoPhillips is pursuing a $22.5 billion takeover of Marathon Oil, one of the largest deals of the quarter that is currently under review by the Federal …

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