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(Reuters) – Chevron said it is set to launch the sale of its remaining UK North Sea oil and gas assets, in a move that would mark the U.S. energy giant’s exit from the ageing basin after more than 55 years. The planned divestment, confirmed to Reuters on Thursday, comes as Chevron prepares for the $53 …
Chevron Prepares for North Sea Exit After More Than 55 Years Read More »
(Reuters) – Crescent Energy will buy SilverBow Resources in a $2.1 billion deal, the companies said on Thursday, amid a consolidation wave in the U.S. oil and gas industry. SilverBow and Crescent Energy both operate in the Eagle Ford shale in Texas. The announcement comes amid SilverBow’s tussle with its largest shareholder Kimmeridge Energy Management, which …
Crescent Energy to Buy SilverBow Resources in $2.1 Billion Deal Read More »
(Reuters) – The U.S. Southwest and Texas are at an increased risk of power supply shortfalls during times of peak demand this summer due to rising electricity consumption and supply constraints, the North American Electric Reliability Corporation said on Wednesday. Parts of the Midwest and New England are also under elevated threat of inadequate power …
U.S. Southwest and Texas at Risk of Power Shortfalls This Summer, Regulator says Read More »
U.S. gasoline prices and refining margins have come under pressure as inventories deplete more slowly than normal for this time of year, indicating supplies are plentiful, and undermining the bullish case for the fuel. Just over a month ago, investors had amassed one of the largest bullish positions in U.S. gasoline futures and options since …
Investors Abandon Bullish Case for U.S. Gasoline: John Kemp Read More »
U.S. crude oil, gasoline and distillate inventories fell last week as refining activity picked up, the Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 2.5 million barrels to 457 million barrels in the week ending May 10, the EIA said, compared with analysts’ expectations in a Reuters poll for a 543,000-barrel draw. …
U.S. Crude, Gasoline and Distillate Inventories Fall, EIA Says Read More »
Ministers from the OPEC+ group of oil producers must agree to raise output when they meet June 1 if they really want to balance the market. That’s the implication of figures published by analysts at the Organization of Petroleum Exporting Countries and their counterparts at the International Energy Agency. OPEC published its monthly forecast Tuesday, …
OPEC+ Decision on Output Likely to Prioritize Dollars Over Demand Read More »
(Reuters) – President Joe Biden is hiking tariffs on $18 billion in Chinese goods including electric vehicles, batteries, semiconductors, steel, aluminum, critical minerals, solar cells, ship-to-shore cranes, and medical products, while retaining Trump-era tariffs on over $300 billion in goods. The United States Trade Representative’s Office told Reuters it anticipates the effective date will be in …
The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth on Wednesday, further expanding the chasm between it and oil producer group OPEC regarding the outlook for global oil demand this year. The Paris-based energy watchdog lowered its growth outlook for this year by 140,000 barrels per day (bpd) to 1.1 million …
IEA Trims 2024 Oil Demand Growth Forecast, Widening Gap with OPEC View Read More »
(Reuters) – The U.S. Energy Department on Tuesday said it has offered a conditional loan guarantee of up to $1.66 billion to Plug Power Inc to help it build up to six plants to produce clean hydrogen. The hydrogen fuel from the plants is expected to power fuel cell-electric vehicles used in material handling, transportation, and …
U.S. Offers Conditional $1.66 Billion Loan to Hydrogen Producer Plug Power Read More »
The April meeting with the JPMorgan CEO took place in New York Banks are being examined for their stance on oil and gas JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon met with Texas Attorney General Ken Paxton as the Republican official threatens to bar more banks from helping the state and its local governments sell bonds to raise …
JPMorgan Chase & Co. CEO Met With Texas AG as State Bans Banks Over ESG Policies Read More »
