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Chevron CEO Michael Wirth is facing a head-to-head match with Exxon Mobil with his $53 billion bid for Hess and its stake in oil hotspot Guyana, and could wind up trapped in a dispute between two of South America’s biggest energy rivals. On Wednesday, Exxon filed an arbitration claim that could block Hess’ proposed merger with Chevron. …
Chevron’s CEO Faces Challenges of a Lifetime With Hess Bid Read More »
TC Energy’s Keystone oil pipeline is offline due to operational issues, cutting off a major conduit of Canadian oil to the United States, three industry sources said on Thursday. The 622,000 barrel-per-day pipeline has been dogged by problems, including a 2022 spill in rural Kansas. Calgary, Alberta-based TC did not immediately respond to a request …
TC Energy’s Keystone Oil Pipeline Offline Due to Operational Issues Read More »
(Reuters) – Electric utility Xcel Energy said on Thursday its facilities were involved in an ignition of the Smokehouse Creek fire in Texas. But the company denied “claims that it acted negligently in maintaining and operating its infrastructure”. The Smokehouse Creek Fire has killed at least two people and grown into the largest wildfire in state history …
Xcel Energy Says its Facilities Were Involved in Smokehouse Creek Fire in Texas Read More »
U.S. oil producer Hess said on Thursday it was reviewing the timeline for closing its merger with Chevron, after oil major Exxon Mobil signaled a potential counter offer for Hess’s Guyana assets. Exxon on Wednesday filed a contract arbitration claim related to Hess’ proposed sale of its Guyana oil properties and suggested it may counter Chevron’s pending …
Hess Says Reviewing Timeline for Closing of Chevron Deal Read More »
CALGARY — TC Energy Corp. has cut an unspecified number of jobs, primarily in Calgary and Houston, the pipeline company confirmed Wednesday. A company spokesperson said in an emailed statement the layoffs relate to TC Energy’s previously announced plans to integrate its Canada, U.S. and Mexico natural gas pipelines business units. The new job cuts …
TC Energy Confirms Latest Round of Job Cuts; Unspecified Number of Employees Affected Read More »
U.S. natural gas output fell about 7% over the past month as producers scaled back production following a collapse in prices to a 3-1/2-year low. Gas prices are down about 23% so far this year, after plunging 44% in 2023, as record production and weak demand from a mild winter left storage facilities at well …
U.S. Natgas Output Down 7% as Producers Cut Back Amid Price Collapse Read More »
The U.S. is seeking to buy about 3 million barrels of oil for the Strategic Petroleum Reserve for delivery in September, the Energy Department said on Wednesday, as it slowly replenishes the emergency stash after selling a record amount in 2022. President Joe Biden in 2022 ordered a sale of about 180 million barrels from …
U.S. Seeks 3 Million Barrels of Oil for Emergency Reserve in September Read More »
Nearly 50 Democrats in the U.S. Congress on Wednesday urged the Federal Trade Commission to probe oil and gas company deals and expand current investigations to protect consumers and industry competition. The industry went on a $250 billion buying spree in 2023, taking advantage of companies’ high stock prices to secure lower-cost reserves. Exxon Mobil Chevron Corp, …
U.S. Democrats Urge Antitrust Regulator to Probe Oil, Gas Mergers Read More »
Bloomberg The boss of the world’s biggest oil-services company says his industry isn’t moving fast enough to do its part in the fight against global warming. SLB Chief Executive Officer Olivier Le Peuch said he and his peers have a responsibility to find ways to reduce greenhouse gas emissions from drilling, fracking and pumping. Yet progress during …
Oil Industry Criticized From Within Over Climate Efforts Read More »
(Reuters) – Pipeline operator Enbridge said on Wednesday it will invest about $500 million in expanding its pipeline and storage assets to improve its U.S. Gulf Coast presence. Enbridge operates North America’s biggest oil pipeline network, the Mainline, which moves Canadian crude from Alberta to U.S. and eastern Canadian refineries. The company said it will …
Enbridge to Invest About $500 Million in Pipeline Assets Read More »
