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Barclays Faces Investor Pressure to Halt Fracking Finance

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

Church of England is among shareholders pressing UK bank ‘Stop funding this damaging and dangerous fuel’: ShareAction A group of 24 institutional investors with a combined $1.2 trillion of assets wants Barclays Plc to stop financing fracking, and argued a recent pledge by the British bank to restrict financing for companies that focus exclusively on fossil-fuel exploration …

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Midstream Space Is Ripe for More M&A, Energy Transfer Says

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

Bllomberg Pipeline operator Energy Transfer LP says it intends to fully evaluate opportunities for mergers and acquisitions. Since last year, there has been a wave of acquisitions among US oil and gas producers as they seek to cut costs and line up new well sites. Though most of the deals have been between drillers, the pipeline sector …

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Bear Market for Diesel Spells Fresh Troubles for Oil

Diesel Fuel, Energy Topics & Technology, Latest, US News / By

(Reuters) – Profit margins for diesel are slumping as new refineries boost supplies and as mild weather in the northern hemisphere and slow economic activity eat into demand, putting oil prices under further downward pressure. The lower refining margins for diesel, one of the world’s key industrial and transport fuels, have already prompted some refiners …

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Canada’s Pipeline Squeeze Set to Return Despite Trans Mountain Start-Pp

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

(Reuters) – As Canada’s oil industry celebrates the start of the Trans Mountain pipeline expansion (TMX), some company executives and analysts are already warning that long-term production growth plans will depend on new takeaway capacity becoming available. TMX, which started commercial operations last week after years of delays, will ship an extra 590,0000 barrels per day (bpd) of …

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Australia Backs Long-Term Gas Exploration Despite 2050 Climate Goals

CDN and International News, Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, LNG, Natural Gas / By

Australia’s resources minister said on Thursday she backs the long-term exploration of potential natural gas projects, setting up a potential clash with opposition lawmakers and some in the incumbent Labor Party that oppose its use. Australia, one of the world’s largest producers of liquefied natural gas (LNG), is committed to reducing its emissions to net …

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Goldman Sachs Sees OPEC+ Unlikely to Raise Production at June Meeting

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

Goldman Sachs on Wednesday said they no longer expect OPEC+ to announce a partial unwind of voluntary production cuts in June. The bank said inventories have recently surprised to the upside, and as a result, their model now estimates only a 37% chance of a production increase decision in June. “While our interpretation of OPEC+ …

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BP Softens Tone on 2030 Oil Output Cut to Reassure Investors

CDN and International News, Energy Topics & Technology, Exploration & Production, Latest / By

BP softened the language on its pledge to cut its 2030 oil and gas output in an effort to reassure investors over its energy transition strategy and narrow a gaping value gap with rivals. CEO Murray Auchincloss has in recent months pivoted the London-based firm’s strategy to focus heavily on returns. He has been less …

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Kimmeridge Calls SilverBow ‘Worst-in-Class’ as Proxy Fight Heats

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

Kimmeridge Energy Management Co. said shale driller SilverBow Resources Inc.’s board prioritizes itself over investors as the proxy battle comes to a head. “The Board’s worst-in-class corporate governance that prioritizes itself and management over shareholder returns appears to have permeated throughout the entire organization in a cyclical, self-serving manner,” Kimmeridge wrote in a presentation Tuesday. This is …

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Oil Heavyweights Challenge Biden Methane Rule in Bid for Changes

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

American Petroleum Institute seeks appeals court review Mandates aim to curb methane leaks from oil wells, tanks Bloomberg The oil industry’s top trade group filed a petition in federal court challenging Biden administration mandates cracking down on planet-warming methane emissions from wells, tanks and pipelines, even as it pushes the government to make administrative changes. The American Petroleum Institute …

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Big Oil Needs to Figure Out Its Strategy, and Fast

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

Faced with a mixed bag of earnings, shareholders are looking for direction. Bloomberg The world’s oil supermajors wrapped up earnings season leaving investors with more questions than answers. BP Plc was last to report, missing estimates and suggesting it’ll do more deals in low-carbon energy — despite pledging to dial back renewables investments and focus on the core fossil-fuel …

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