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Carbon Capture Tech a ‘Complete Falsehood’, Says Fortescue Metals Chairman

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

(Reuters) – Carbon capture is not a solution for the energy transition and political leaders need to provide real, non-greenwashed, commitments to encourage investment, Andrew Forrest, executive chairman of Fortescue Metals, said on Tuesday. Speaking at the 50th anniversary meeting of the International Energy Agency, Australian billionaire Forrest said the investment community needs a level-playing …

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Why Endeavor Energy’s Founder Sold his Company after Years of Rebuffing Offers

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, US News / By

(Reuters) – For years, Endeavor Energy founder Autry Stephens’ refusal to entertain acquisition offers for one of the most lucrative producers in the U.S. oil patch vexed some of his peers. “It’s not for sale, it hasn’t been for sale, it’s probably not going to ever sell,” Pioneer Natural Resources’  former CEO Scott Sheffield, a contemporary …

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Tesla Collapse has Investors Wondering if it’s Still Magnificent

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

Tesla is by far the worst performer in the Magnificent Seven index this year Bloomberg News If you’re building a list of the most important stocks in the market, Tesla Inc. has to be on it. Or does it? That’s part of a growing debate on Wall Street, where shares of Elon Musk’s electric-vehicle maker are tanking as the …

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Investors Dump Oil After U.S. Refinery Shutdown: John Kemp

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

Portfolio investors abandoned hope for an early rally in crude prices after a site-wide electricity failure caused an unexpected shutdown in production at BP’s refinery at Whiting in Indiana on Feb. 1. The refinery is the largest in the U.S. Midwest and processes more than 400,000 barrels per day, so the extended closure for safety …

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Diamondback to Buy Endeavor Energy in $26 Billion Mega Shale Deal

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil, Pinned Primary, Shale / By

(Reuters) – Shale producer Diamondback Energy  said on Monday it would buy the largest privately held oil and gas producer in the Permian Basin, Endeavor Energy Partners, in a cash-and-stock deal valued at about $26 billion, including debt. The combined company would be the third largest oil and gas producer in the region behind Exxon and …

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U.S. Government Announces Intent to Fund Methane Reduction Projects

Energy Topics & Technology, Latest, Methane, US News / By

The U.S. Environmental Protection Agency (EPA) and the Department of Energy (DOE) released a notice of intent on Friday to help fund projects aimed at reducing methane emissions from the oil and gas sectors. The notice was issued to give applicants enough time to prepare their proposals and form partnerships if needed in anticipation of …

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U.S. Drillers Add Oil and Gas Rigs for Third Time in Four Weeks – Baker Hughes

Drilling Rigs, Energy Topics & Technology, Latest, Tri-Pinned, US News / By

U.S. energy firms this week added oil and natural gas rigs for the third time in four weeks, 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 4 to 623 in the week to Feb. 9, its …

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Energy M&A Boom Is Just Getting Started, Enbridge CEO Ebel Says

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Natural Gas, Pipelines / By

The surge in energy industry mergers and acquisitions — marked by a series of megadeals among oil producers last year — is set to ramp up further in 2024 as interest rates decline, Enbridge Inc. Chief Executive Officer Greg Ebel said. “As interest rates start to peak and perhaps come down — who knows exactly when that’s going to …

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U.S. Trade Bank Defies Biden to Expand Oil Drilling in Bahrain

Drilling Rigs, Energy Topics & Technology, Latest, US News / By

Export-Import Bank loan would finance more than 400 wells Plan runs counter to Biden’s pledge on fossil-fuel projects US Export-Import Bank leaders are moving forward with plans to underwrite the drilling of more than 400 oil and gas wells in Bahrain, even as President Joe Biden halts new liquefied natural gas export licenses over climate concerns.  The …

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Oil Pipeline Owner Plains Searches for Deals as Shale M&A Heats Up

Energy Topics & Technology, Latest, Mergers and Acquisitions, Pipelines / By

Pipeline operator Plains All American Pipeline LP is looking to make more deals as merger and acquisition activity heats up across the oil and gas industry. “We’re hopeful that we’ll be successful on some bolt-on acquisitions,” Chief Financial Officer Al Swanson said on a quarterly earnings call Friday. Small acquisitions of Permian Basin crude gathering lines have helped boost …

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