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U.S. shale oil output will flatten out if prices remain where they are now and will start to decline with prices in the $50s per barrel, the CEO of ConocoPhillips said on Tuesday in the latest prediction that oil’s slump could curb U.S. supply. The comments from Conoco CEO Ryan Lance come as forecasters including …
US Shale to Plateau if Oil Stays in Current Range, ConocoPhillips CEO Says Read More »
(Reuters Breakingviews) – A sprawling global network of silicon has sprung up to power artificial intelligence. Housed within data centers, these chips demand vast sums of electricity to crunch the numbers behind the likes of ChatGPT. Yet both technology giants and energy utilities are incentivized to pad projections for how many of these facilities need …
Companies are adding capacity at comparative bargains to satisfy AI’s thirst for energy. If there was any lingering doubt about whether gas-fired generation plants are the hottest targets in the US power system, the recent flurry of deals likely extinguished it. NRG Energy Inc. grabbed attention May 12 by agreeing to pay $12 billion, including debt, …
Gas Power Is Cheaper to Buy Than Build in the US Read More »
May 19 (Reuters Breakingviews) – Elliott Investment Management’s next big move at BP is installing board leadership it likes. The U.S. activist, which now holds 5% of the struggling $78 billion oil major, understandably wants a swift replacement for departing Chair Helge Lund. While suitable candidates aren’t exactly abundant, some exist. The sooner a new …
How BP Top Brass Can Get an Elliott-Backed Revamp Read More »
Utility Vistra said on Thursday it would acquire seven natural gas generation facilities, with a combined capacity of nearly 2,600 megawatt, from Lotus Infrastructure Partners for $1.9 billion, as it looks to meet growing power demand. The deal includes five combined cycle gas turbine facilities and two combustion turbine facilities located across PJM, New England, …
Utility Vistra to Buy Natural Gas Assets for $1.9 Billion Read More »
(Reuters) – Canadian oil and gas producer Strathcona said late Thursday it plans to launch a C$5.93 billion ($4.25 billion) hostile takeover bid for rival MEG Energy, aiming to create one of the country’s largest oil sands companies. The all-cash-and-stock unsolicited offer would combine two of Canada’s largest pure-play thermal oil sands operators, and make Strathcona …
Canadian Oil Producer Strathcona to Launch US$4.25 Bln Hostile Bid for MEG Energy Read More »
Projected searing temperatures across the U.S. and the proliferation of data centers are expected to send electricity consumption to a four-year high this summer, testing the grid and pushing up power prices, the Federal Energy Regulatory Commission said on Thursday. A shrinking pool of around-the-clock power plants, which are retiring to make way for cleaner …
Hot Weather and High Demand to Pressure US Power Grid This Summer, FERC Says Read More »
By Robert Harvey and Enes Tunagur Hikes 2025 global supply growth forecast by 380,000 bpd Oil demand growth to slow to 650,000 bpd in rest of year Expects lower oil prices to hit US shale oil output growth Revises up 2025 total demand forecast LONDON, May 15 (Reuters) – World oil supply will rise more …
Global Oil Supply to Rise Faster Than Expected After OPEC+ Hike, IEA Says Read More »
A House committee wants to compensate some energy companies if the government derails their projects. By Liam Denning Pick a side. Photographer: Brandon Bell/Getty Images North America The legislating of energy policy in Washington has become so volatile that some folks want to sell insurance against it. Those folks happen to be the politicians in …
By Stephanie Kelly and Jarrett Renshaw About 161 applications await decisions Action will affect market for renewable fuel credits Big Oil, Farm Belt anticipate 2026 biofuel blending requirements NEW YORK, May 15 (Reuters) – The Trump administration plans to rule quickly on dozens of small U.S. refineries’ pending applications for exemptions from biofuel-blending requirements, the …
US EPA to Rule on Backlog of Small Refinery Biofuel Exemption Requests, Zeldin Says Read More »
