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Summary OPEC+ producers to continue cuts of 2.2 million bpd Russia to deepen oil output cuts, ease export limits Oil seen opening stronger when trading resumes – PVM DUBAI, March 3 (Reuters) – OPEC+ members led by Saudi Arabia and Russia agreed on Sunday to extend voluntary oil output cuts of 2.2 million barrels per …
OPEC+ Members Extend Oil Output Cuts to Second Quarter Read More »
(Reuters) – Chevron has indefinitely idled two biodiesel production facilities in the U.S. Midwest, the company confirmed on Friday, citing poor market conditions. The second-largest U.S. oil producer bought biodiesel maker Renewable Energy Group for $3.15 billion in 2022 to expand its renewable fuels production to 100,000 barrels per day by 2030. The deal brought it 10 biodiesel …
Chevron Idles Two U.S. Midwest Biodiesel Plants as Profits Slip Read More »
U.S. energy firms this week added oil and natural gas rigs for a second straight week to their highest since September, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by three to 629 in the week to …
U.S. Oil and Gas Rig Count Rises to Highest Since September- Baker Hughes Read More »
U.S. production of oil and gas set new seasonal records in December, capping off an unprecedented year, according to data published by the U.S. Energy Information Administration (EIA) on Thursday. Production continued to climb even as prices slumped from the very high levels seen in mid-2022 after Russia’s invasion of Ukraine, contributing to the accumulation …
Record U.S. Oil and Gas Production Keeps Prices Under Pressure: Kemp Read More »
(Reuters) – Energy companies are ramping up exploration activities in Southeast Asia to boost natural gas output and meet long-term demand growth, drawn by recent discoveries and improved investment policies, company executives and analysts said. Malaysia and Indonesia have recently seen successful upstream discoveries, including a major discovery by Mubadala Energy in the South Andaman Block, following years …
Energy Firms Boost Gas Exploration in Southeast Asia to Meet Growing Demand Read More »
March 1 (Reuters) – Global energy majors Exxon Mobil and Shell will work with Singapore to develop a cross-border carbon capture and storage (CCS) project, both companies said on Friday. The Singapore-based units of the two companies, ExxonMobil Asia Pacific Pte. Ltd. and Shell Singapore Pte. Ltd., have formed the S-Hub consortium to work with the Singapore …
ExxonMobil, Shell to Work with Singapore on Carbon Capture and Storage Project Read More »
OPEC oil output rises by 90,000 bpd in February, survey finds (Reuters) – The following table shows crude output by the Organization of the Petroleum Exporting Countries (OPEC) in millions of barrels per day (bpd) in February and January, according to a Reuters survey published on Thursday. OPEC and allies, together known as OPEC+, announced …
OPEC Oil Output Rises by 90,000 Bpd in February, Survey Finds Read More »
Automakers now have one fewer competitor to worry about in a crowded and uncertain arena Bloomberg News The sudden demise of Apple Inc.’s electric-vehicle program is a bleak sign for the car market. It’s also a welcome boon for automakers themselves. Apple Pulls Plug on Electric Car Plans Apple Inc. is canceling a decade-long effort to build an …
Apple’s Electric-Vehicle Wind Down Offers Reprieve to Tesla, Detroit Rivals Read More »
Cornell University professor Robert Warren Howarth says methane emissions from American LNG supply chains make the fuel as bad or worse for the climate than coal. Bloomberg When the Biden administration paused approval of new liquefied natural gas export licenses in January, the decision was driven by a recognition that the climate impact from the fossil fuel …
How One Methane Scientist Influenced Biden’s Pause on LNG Approvals Read More »
Reuters Breakingviews) – The Oracle of Omaha’s crystal ball failed him. Warren Buffett conceded in his latest annual letter to Berkshire Hathaway shareholders released over the weekend that he made a “costly mistake” about electricity. The error was thinking that investing huge sums to supply it to American homes and businesses would generate a steady …
Buffett Puts $1 Trillion Grid Problem in a Bad Light Read More »
