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(Reuters) – OPEC+ is working to agree oil production capacity for its member countries by the end of 2024, an issue that has created tensions in the past because each nation’s output target is calculated from its notional capacity. Members of OPEC+ – comprising OPEC and allies such as Russia – tend to push for …
NOW YOU KNOW: Why Does OPEC+ Often Clash Over Oil Production Capacity? Read More »
(Reuters) – The operator of the Texas power system, one of the largest in the United States, is on track to smash generation records from both clean and fossil fuel sources in 2024 as total power needs continue to grow. The Electric Reliability Council of Texas (ERCOT) clean power generation total through May 27 was …
Texas Set to Smash Clean and Dirty Power Output Records in 2024 Read More »
NEW YORK–(BUSINESS WIRE)–Hess Corporation (NYSE: HES) today announced that it has received the necessary approval of its stockholders for closing the company’s merger with Chevron Corporation. At the special meeting of Hess stockholders held today, a majority of the outstanding shares of Hess common stock were voted in favor of the adoption of the merger agreement. …
Hess Corporation Receives Stockholder Approval for Proposed Merger with Chevron Read More »
Scott Sheffield, the former CEO of Pioneer Natural Resources, has requested the US Federal Trade Commission to vacate its order that barred his inclusion on Exxon Mobil’s board. Sheffield also sought the dismissal of the proceeding without further action, according to a comment filed by his legal counsel before the regulator on Tuesday. The U.S. antitrust …
Former Pioneer CEO Urges FTC to Withdraw Ban on His Inclusion in Exxon’s Board Read More »
Pipeline operator Energy Transfer said on Tuesday it would buy WTG Midstream Holdings in a deal valued at about $3.25 billion as the pipeline operator looks to expand its gas transportation and processing network in the Permian Basin. It would acquire WTG from affiliates of Stonepeak, the Davis Estate and Diamondback Energy. The deal will …
Energy Transfer to Buy WTG Midstream in $3.25 Billion Deal Read More »
Hess Corp shareholders will vote on Tuesday on Chevron’s proposed $53 billion acquisition of the company, after many investors have called for a delay in hopes of obtaining a better offer for their shares. The vote has huge implications for both companies. The deal has been stalled in part by a regulatory review and clouded …
Hess Investors to Vote on Chevron Deal Amid Growing Postponement Calls Read More »
Texas’ daily power consumption set a record for the month of May for the fifth time this month, the state grid operator said on Monday, as homes and businesses fired up air conditioners during a heat wave. The Electric Reliability Council of Texas (ERCOT), which operates most of the state’s power grid for 27 million …
Texas Daily Power Demand Sets Record for May Consumption Read More »
CALGARY — A new report commissioned by an industry lobby group on the federal government’s proposed emissions cap stirred up strong reactions from both oil and gas supporters and environmental groups on Monday. The report, by S&P Global Commodity Insights, was commissioned by the Canadian Association of Petroleum Producers to examine the impact of various …
(Reuters) – European Union countries approved a law on Monday to impose methane emissions limits on Europe’s oil and gas imports from 2030, pressuring international suppliers to cut leaks of the potent greenhouse gas. Methane is the main component of the natural gas countries burn in power plants and to heat homes. It is also …
EU Approves Law to Hit Gas Imports with Methane Emissions Limit Read More »
(Reuters) – Iran has approved a plan to raise its oil output to four million barrels per day, the country’s Tasnim news agency said on Sunday, without providing a time frame. “An economic council headed by Iran’s interim president Mohammad Mokhber has approved a plan to raise the country’s oil output from 3.6 million barrels …
Iran Plans to Raise Oil Output to 4 Million Barrels Per Day Read More »
