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Biden Administration Says Enbridge Pipeline Shutdown Order Should be Reconsidered

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

The Biden administration has urged a U.S. appeals court to tell a lower court to rethink its order that would require Canadian operator Enbridge to drain portions of an oil pipeline that runs through Native American tribal land in Wisconsin, according to a court filing made public on Wednesday. In an amicus, or friend-of-court, brief dated April …

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Biden Administration Says Enbridge Pipeline Shutdown Order Should be Reconsidered

Conventional Energy, Energy Topics & Technology, Latest, Oil, Pipelines / By

The Biden administration has urged a U.S. appeals court to tell a lower court to rethink its order that would require Canadian operator Enbridge to drain portions of an oil pipeline that runs through Native American tribal land in Wisconsin, according to a court filing made public on Wednesday. In an amicus, or friend-of-court, brief dated April …

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U.S. Crude Stocks, Gasoline and Distillate Inventories Rise – EIA

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

U.S. crude, gasoline and distillate inventories rose in the week ending April 5, the Energy Information Administration said on Wednesday. Crude inventories rose by 5.8 million barrels to 457.3 million barrels in the week ended April 5, the EIA said, compared with analysts’ expectations in a Reuters poll for a 2.4 million-barrel rise. Crude stocks …

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$200 Billion of M&A Wasn’t Enough in U.S. Oil Patch

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

There are still too many energy companies chasing too little capital. By Javier Blas Javier Blas is a Bloomberg Opinion columnist covering energy and commodities. He is coauthor of “The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources.” Even after a record $200 billion dealmaking frenzy last year, US oil and …

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Diamondback Sells $5.5 Billion of Bonds for Endeavor Deal

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

The five-part offering includes a $1 billion, 40-year tranche M&A-related financing is helping fuel record high-grade sales Diamondback Energy Inc. borrowed $5.5 billion in the US investment-grade market to partly help fund its $26 billion takeover of Endeavor Energy Resources LP, joining other blue-chip companies capitalizing on robust investor demand to bring acquisition-related debt deals. Diamondback sold the bonds …

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U.S. Electric Utilities Brace for Surge in Power Demand from Data Centers

Electricity Grid, Energy Topics & Technology, Latest, Tri-Pinned, US News, Utilities / By

(Reuters) – U.S. electric utilities predict a tidal wave of new demand from data centers powering technology like generative AI, with some power companies projecting electricity sales growth several times higher than estimates just months earlier. Nine of the top 10 U.S. electric utilities said data centers were a main source of customer growth, leading …

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U.S. Oil Refiners’ Weekly Capacity Seen up 231,000 Bpd, IIR Says

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

U.S. oil refiners are expected to have about 1 million barrels per day (bpd) of capacity offline for the week ending April 12, increasing available refining capacity by 231,000 bpd, research company IIR Energy said on Wednesday. Offline capacity is expected to fall to 994,000 bpd in the week ending April 19, IIR added. The …

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Shell at Disadvantage to U.S.-Listed Rivals, says Former CEO

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

Shell’s former CEO, Ben van Beurden, said on Tuesday that European oil and gas companies will find it increasingly difficult to compete with U.S.-listed rivals. There are “a deeper pool of investors and capital in New York and the attitude is more positive towards oil and gas companies,” van Beurden, who stepped down in 2021, …

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Morgan Stanley Lifts Q3 Brent Crude Oil Forecast on Geopolitical Risk

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

Morgan Stanley has raised its Brent crude oil price forecast for the third quarter of this year by $4 per barrel to $94, citing geopolitical risks. “That the degree of geopolitical risk in key oil producing regions has increased recently seems clear and uncontroversial,” the bank said in a note dated Monday. Brent futures rose …

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U.S. Natgas Flows to Texas Freeport LNG Export Plant Seen up on Tuesday

Conventional Energy, Energy Topics & Technology, Latest, LNG, Refineries, US News / By

The amount of natural gas flowing to Freeport LNG’s liquefied natural gas (LNG) export plant in Texas was on track to rise for a second day in a row on Tuesday, according to data from financial firm LSEG. Energy traders said gas futures were trading about 2% higher so far on Tuesday on the possibility …

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