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Summary Profit down 19% quarter on quarter Weak refining margins and trading results weigh Plans a further $3.5 billion in buybacks (Reuters) – Shell reported second-quarter profit of $6.3 billion, a drop of 19% from the previous three months as refining margins and oil and gas trading weakened, though still beating analysts’ forecasts. The results were …
Shell Beats Forecasts With $6.3 Billion Second Quarter Profit Read More »
Chevron Corp. N>’s proposed purchase of oil producer Hess faces a lengthy new delay, with an arbitration panel not expected to holding a hearing on the merits of the case until May 2025, the company said on Wednesday. Exxon Mobil in March filed an arbitration claim seeking a pre-emption right to be able to buy Hess’s …
Chevron’s Proposed Deal for Hess Faces New Delay Over Arbitration Schedule Read More »
By Gary Mcwilliams Big dollar deals like Conoco-Marathon Oil driving activity Average price paid per undeveloped property up 68% this year Exxon’s deal for Pioneer kicked off latest wave of mergers HOUSTON, July 30 (Reuters) – U.S. oil and gas patch deals continued to run hot in the second quarter, topping $30 billion with big …
U.S. Oil and Gas Mergers Continue at Furious Pace in Q2 Read More »
U.S. crude oil production fell in May in its first monthly decline since January, while fell natural gas output decreased to its lowest since February 2023, data from the U.S. Energy Information Administration showed on Wednesday. Crude oil production fell by 61,000 barrels per day (bpd) to 13.18 million bpd in May, as lower output …
U.S. Oil Output Falls in May for the First Time Since January, EIA Says Read More »
To meet their 2030 climate goals, fossil fuel producers need to curtail methane releases in key regions. One of the most comprehensive aerial surveys of methane gushing from US oil and gas facilities shows operators must slash emissions by roughly 80% or more to meet major industry targets. The nonprofit Environmental Defense Fund conducted about …
U.S. Oil and Gas Must Cut Methane 80% to Meet Industry Targets, New Data Shows Read More »
Cenovus Energy shut down a unit at its 183,000-barrel-per-day (bpd) refinery in Lima, Ohio, on Tuesday, the company said. “Lima Refining Company is responding to an issue at its facility,” a Cenovus spokesperson said, without giving a reason for the shutdown.“As the Refinery responds, community members will see larger than normal flaring as part of …
Cenovus Shuts Unit at 183,000-BPD Refinery in Lima, Ohio Read More »
By Gavin Maguire LITTLETON, Colorado, July 30 (Reuters) – The power sector is the only major consumer of natural gas that has shown consistent demand growth in recent years, and has become the driving force behind natural gas demand in the United States as consumption from other sectors declines. Natural gas use by power generators …
Power Sector Drives Growth in US Natural Gas Demand Read More »
By John Kemp LONDON, July 30 (Reuters) – U.S. electricity generators consumed a record amount of gas in the first four months of the year as prices slumped to the lowest level in real terms for more than half a century. Ultra-low prices encouraged more power production from some of the least-efficient single-cycle gas and …
By Olesya Astakhova, Ahmad Ghaddar and Alex Lawler Top OPEC+ ministers to meet online on Aug. 1 Brent crude prices have lost about 9% in July OPEC+ plans to raise output from October MOSCOW/LONDON, July 30 (Reuters) – An OPEC+ panel is unlikely this week to make any changes to its current deal to cut …
OPEC+ Likely to Stick to Output Policy at Aug 1 JMMC Meeting Read More »
By Gary Mcwilliams Big dollar deals like Conoco-Marathon Oil driving activity Average price paid per undeveloped property up 68% this year Exxon’s deal for Pioneer kicked off latest wave of mergers HOUSTON, July 30 (Reuters) – U.S. oil and gas patch deals continued to run hot in the second quarter, topping $30 billion with big …
US Oil and Gas Mergers Continue at Furious Pace in Q2, Says Enverus Read More »
