Auto Added by WPeMatico
(Reuters) – BP said on Tuesday it expects first-quarter upstream production of both oil and gas as well as low-carbon energy to be higher than the previous three months. The London-listed oil major also expects strong results in oil and gas trading, along with a $100 million-$200 million boost from improved oil refining margins. Lower …
BP Expects Rise in First-Quarter Upstream Energy Output Read More »
Mexico’s state energy company, Pemex, is planning to cut at least 330,000 barrels per day (bpd) of crude exports in May, leaving customers in the United States, Europe and Asia with a third less supply, two sources said. The plan follows the withdrawal of 436,000 bpd of Maya, Isthmus and Olmeca crudes this month, ordered …
Mexico to Cut at Least 330,000 Bpd of Crude Exports in May, Sources Say Read More »
Brokerage Raymond James says its global industry survey of upstream oil companies shows an uptick of 3% in capex spending in 2024, plateauing after 2023. ** Says global spending in 2024 would mark a fourth consecutive increase, albeit the slowest one – there is, however, a cumulative drop of 33% from the peak level of …
Raymond James Expects Global Oil, Gas Upstream Capex Spending to Rise 3% in 2024 Read More »
The bulk of new diesel supply stemming from a $1 billion expansion at the UK’s largest oil refinery operated by Exxon Mobil Corp. will be available in the first quarter of 2025. A new production facility at the Fawley refinery on the south coast of England will initially be geared to production of diesel, helping …
Exxon on Track With UK Refinery Expansion Just as Others Shut Capacity Read More »
(Reuters) – India’s fuel consumption fell 0.6% year-on-year in March, but demand for the 2024 financial year was up about 5%, primarily driven by higher automotive fuel and naphtha sales. Total consumption, a proxy for oil demand, totalled 21.09 million metric tons (4.99 million barrels per day) in March, down from 21.22 million tons (5.02 …
India’s Fuel Demand Hits New FY Record, up About 5% Read More »
(Reuters) – Electric grids across the U.S. are anticipating a rapid decline in solar generation during Monday’s total solar eclipse, which will span multiple states. NASA estimates the path of totality – when the sun is fully blocked by the moon – will last from 1:30 pm CDT (1830 GMT) to 2:35 pm CDT in …
How Monday’s Total Solar Eclipse Affects U.S. Grid Operators Read More »
(Reuters Breakingviews) – Abu Dhabi is flipping the script. In recent years, the United Arab Emirates’ leading light has blazed a trail by offloading minority stakes in subsidiaries of the Abu Dhabi National Oil Company (ADNOC). Wednesday’s acquisition of KKR and BlackRock’s 40% stake in ADNOC’s oil pipelines, by domestic investment fund Lunate, goes in …
UAE Flips Own Script with $4 Bln Oil Pipeline Deal Read More »
The following is an update to the first quarter 2024 outlook and gives an overview of our current expectations for the first quarter. Outlooks presented may vary from the actual first quarter 2024 results and are subject to finalisation of those results, which are scheduled to be published on May 2, 2024. Unless otherwise indicated, …
Canadian energy company Enbridge’s Texas Eastern Transmission subsidiary received approval on Thursday from U.S. energy regulators to commence service of a natural gas pipeline associated with its Venice extension project in Louisiana. The Venice extension was designed to supply gas to Venture Global LNG’s Plaquemines liquefied natural gas (LNG) export plant in Louisiana, which is …
Enbridge Wins Approval to Commence Service on Louisiana Venice Natgas Pipe Project Read More »
U.S. manufacturers have finally pulled out of the long, shallow slump that started in the middle of 2022, which will support petroleum consumption especially for diesel and other middle distillates in the months ahead. The Institute for Supply Management’s purchasing managers index for the manufacturing sector climbed to 50.3 in March (34th percentile for all …
U.S. Manufacturers Emerge From Slump, Set to Boost Fuel Use: Kemp Read More »
