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Houston’s Electric Utility Is Prepared for Storms After 2024 Blackout, CEO Says

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

By Naureen S Malik and Mark Chediak Downed power lines following Hurricane Beryl in July 2024. Photographer: Mark Felix/Bloomberg Houston’s electric utility is confident significant grid investments will prevent a repeat of widespread blackouts that occurred last summer following Hurricane Beryl. CenterPoint Energy Inc. is integrating artificial intelligence to predict tree growth, using light detection …

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Electric Cars Losing Appeal Among New Drivers: Shell Survey

Electric Vehicles, Energy Topics & Technology, Latest, US News / By

Nine in 10 current EV drivers indicated they would consider a similar purchase for their next vehicle Bloomberg News Electric cars are losing their appeal for new drivers in Western nations, even as existing owners report increasing satisfaction with their battery-powered vehicles, according to a survey conducted by Shell Plc. The findings show that high upfront cost …

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Senate Bill Would Raise Value of Tax Credit to Use Captured CO2 to Produce More Oil

Carbon Capture, Conventional Energy, Energy Topics & Technology, Latest, Oil, US News / By

By Valerie Volcovici WASHINGTON, June 17 (Reuters) – A U.S. Senate panel proposed making the tax credit for capturing carbon emissions for recovering oil equal to the $85/metric ton tax credit for permanently burying those emissions underground, a boon for oil and gas producers. The finance committee proposed the change to the so-called 45Q tax …

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Petrobras and Exxon Team Up to Win Offshore Blocks in Brazil

CDN and International News, Energy Topics & Technology, Latest, Offshore / By

By Mariana Durao and Gabriel Diniz Tavares Camila Borges, a representative for Exxon Mobil Corp., presents a bid during a public session of the Agencia Nacional do Petroleo (ANP) oil concession offer in Rio de Janeiro on June 17. Photographer: Dado Galdieri/Bloomberg Petrobras, Exxon Mobil Corp. and Chevron Corp. won exploration rights in Brazil’s Equatorial …

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UAE Oil Firm ADNOC Upping US Investments, Says AI Once-in-a Generation Investment Opportunity

Artificial Inteligence, Energy Topics & Technology, Latest, US News / By

(Reuters) – ADNOC chief Sultan al-Jaber said on Tuesday the state oil company of the United Arab Emirates was looking to grow its U.S. energy investments six-fold to $440 billion in the next 10 years. “For us, the United States is not just a priority; it is an investment imperative,” Jaber told an audience at …

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COMMENTARY: Israel-Iran War Already Takes Toll on Oil and Gas Sector – Bousso

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

(Reuters) – Critical energy infrastructure in Israel and Iran has not escaped unscathed from the first few days of the countries’ escalated conflict. Worst-case scenarios have yet to be realized, but the war is already having a notable impact on energy production and exports in both countries. Benchmark Brent crude oil prices jumped 7% to …

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Chevron Makes First Foray Into Lithium With Smackover Deals

Critical Minerals, Energy Topics & Technology, Latest, US News / By

By Kevin Crowley Chevron Corp. made its first foray into lithium with two acreage deals in northeast Texas and southwest Arkansas aimed at building a domestic “commercial scale” business. Chevron acquired 125,000 net acres from TerraVolta Resources LLC and East Texas Natural Resources LLC in the Smackover Formation, an underground rock formation that holds high …

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COMMENTARY: Even Big Oil Thinks Big Oil Is Too Risky These Days – Fickling

Conventional Energy, Energy Commentary, Energy Topics & Technology, Latest, LNG, Oil, US News / By

Adnoc’s bid for Santos shows oil producers are going after LNG  to counter declining demand and war. By David Fickling What’s an oil producer to do when it sees its core product under threat from declining demand and a war-torn neighborhood? Just ask Abu Dhabi National Oil Co. The $19 billion all-cash bid for Australian gas …

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South Carolina’s Republican Governor Asks to be Left Out of Trump Offshore Drilling Plan

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

June 16 (Reuters) – The Republican governor of South Carolina appealed to the Trump administration on Monday to leave his state out of an impending plan to increase offshore oil and gas production. The letter comes as the administration wraps up a 45-day request for public input into a federal offshore oil and gas leasing …

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Oil Price Surge Sparks Burst of Hedging Among Shale Drillers

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

By Lucia Kassai and David Marino The surge in oil futures spurred by the initial missile attacks in the Middle East last week triggered a wave of hedging by producers seeking to lock in the higher prices, keeping some traders up late into the night. AEGIS Hedging Solutions LLC, a Woodlands, Texas-based firm that helps …

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