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Global Upstream Sector Set for deals Worth $150 billion Over Rest of 2024, Report Says

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, LNG, Mergers and Acquisitions, Natural Gas, Oil / By

The global upstream industry could see dealmaking worth another $150 billion throughout the remainder of the year, with focus shifting to shale plays in U.S. other than the Permian Basin, analysts at Rystad Energy said in a report. M&A activity in the global upstream industry has already crossed the $64 billion mark this year, most …

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Oil Producers Flush With Cash Cut Reliance on Funding Markets

CDN and International News, Conventional Energy, Energy Topics & Technology, Finance, Latest, Natural Gas, Oil / By

Demand for bank loans fell in 2022 and again in 2023 The drop occurred after two years of rising oil prices Bloomberg Last year, the demand for loans from fossil-fuel companies fell 6% year-on-year and that followed a decline of 1% in 2022. From a climate perspective, this may sound like good news because the …

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Biden Strategy to Tame Gas Prices Is in Peril as Iran Sanctions Pressure Mounts

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

The cost of gas at the pump is already up 18% this year, but Congress is urging tougher sanctions enforcement. With only six months to go before the election, President Joe Biden’s strategy to lower gasoline prices is in jeopardy. The administration’s soft approach to sanctions on oil from Iran, Russia and Venezuela has been key …

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Shell Earns $1 Billion a Year From U.S. Crude Trading, Court Filing shows

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

(Reuters) – Financial details of Shell’s  vast oil and gas trading business are some of the company’s closest-held secrets. Documents in a lawsuit filed by a former employee, however, revealed its U.S. crude trading regularly earns around $1 billion every year. Testimony by a former head of Shell’s U.S. crude trading division filed in a Texas …

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Texas Power Prices Signal Grid Stress in Another Long, Hot Summer

Electricity Grid, Energy Topics & Technology, Latest, US News / By

August prices for Dallas hit an 82% premium from a year ago Grid operator Ercot issues power warning for next week A surge in Texas power prices for August suggests another summer of heavy electricity demand — and potential grid strain — to meet air-conditioning needs. Traders start looking at prices months in advance to …

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Texas Natural Gas Prices Plummet After Pipeline Fire

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

Intraday cash prices at Waha fall to about -$3 per million Btu Kinder Morgan shut a pipeline segment, trapping gas in region   Natural gas prices in West Texas under pressure from a glut in supply sank even further into negative territory after a segment of a pipeline system was shut following a fire, threatening …

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Hess Sets May 28 Shareholder Vote on Chevron Buyout

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

Hess Corp set May 28 for a special meeting of shareholders to vote on Chevron Corp ‘s $53 billion buyout offer, the company said in a securities filing on Friday. Chevron last October offered to acquire Hess Corp in a move to gain a foothold in oil-rich Guyana’s lucrative offshore fields. The deal has been stalled …

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Kinder Morgan Declares Force Majeure on West Texas Natgas Pipeline

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

Pipeline operator Kinder Morgan said on Friday a fire that erupted on a west Texas natural gas pipeline it operates was extinguished after burning for most of the day. The Houston company declared force majeure on a segment of the pipeline in Ward County, Texas, following the fire, according to a notice filed on a …

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China’s Transition Hampered by Flat-Lining Energy Intensity

CDN and International News, Energy Commentary, Energy Topics & Technology, Latest, Renewable Energy, Solar, Wind / By

By John Kemp (Reuters) – China’s economy has become much less energy intensive over the last 40 years as its industries have modernised and the economy has shifted towards more service sector output. But energy intensity has flatlined for the last five years making it much harder to displace coal by renewables and meet the government’s …

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As Solar Capacity Grows, Some of America’s Most Productive Farmland is at Risk

Energy Commentary, Energy Topics & Technology, Latest, Renewable Energy, Solar, Tri-Pinned, US News / By

Dave Duttlinger stands next to land he leased to Dunns Bridge Solar LLC, Wheatfield, Indiana. April 5, 2024. REUTERS/Jim Vondruska (Reuters) – Dave Duttlinger’s first thought when he saw a dense band of yellowish-brown dust smearing the sky above his Indiana farm was: I warned them this would happen. About 445 acres of his fields …

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