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Biden Drops Mileage Score for Electric Cars in Bid to Spur Sales

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

Calculation scores fuel efficiency of electric vehicles Requirements attempt to balance automakers, environmentalists The Biden administration is setting a new estimate of the fuel efficiency of electric vehicles that’s meant to better reflect the real world and is likely to further drive sales of emission-free cars. The so-called petroleum equivalency factor established in a final …

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Chevron Surprised When Exxon Filed for Arbitration Over Guyana – CEO

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

HOUSTON, March 19 (Reuters) – Chevron  was surprised when Exxon Mobil  filed for arbitration over Chevron’s plans to buy Hess’s  Guyana oilfield stake, Chevron CEO Michael Wirth said on Tuesday. The dispute threatens to derail Chevron’s $53 billion takeover of Hess. The 30% stake in the prolific Exxon-operated Stabroek oilfield in Guyana is Hess’s most valuable asset. Exxon says …

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Exxon CEO Says Hydrogen Project at Risk Without IRA Tax Credits

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

Texas plant would make hydrogen from gas and capture carbon Woods calls on Biden administration to back IRA ‘principles’ Exxon Mobil Corp. won’t move forward with one of the world’s largest, low-carbon hydrogen projects if the Biden administration withholds tax incentives for natural gas-fed facilities, Chief Executive Officer Darren Woods said during an interview. Under the current guidelines, …

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U.S. to Return Emergency Oil Reserve to Prior Levels by Year-End

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

U.S. oil stocks in the Strategic Petroleum Reserve (SPR) at year-end will be at or exceeding the level that would have existed prior to massive sales two years ago, U.S. Energy Secretary Jennifer Granholm said on Monday. Stocks will reach those levels in part on the cancellation of congressional-mandated sales of about 140 million barrels, …

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U.S. Oil Output From Top Shale Regions to Rise in April, EIA Says

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

U.S. oil output from top shale-producing regions will rise in April to the highest level in four months, the U.S. Energy Information Administration (EIA) said in its monthly Drilling Productivity Report on Monday. Production from the top basins will climb by more than 9,000 barrels per day (bpd) to 9.77 million bpd, the strongest output …

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Hydrogen Adoption Will Cost Europe, US More Than $1 Trillion

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

Europe and the U.S. will have to spend in excess of $1 trillion for building infrastructure to enable widespread use of hydrogen fuel, an executive at Mitsubishi Heavy Industries said on Monday. A wholesale move to hydrogen will need significant new demand, which could only come with investments in infrastructure to reduce the cost. European …

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BP Whiting, Indiana Refinery Returns to Normal Ops, Says Company

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

BP Plc’s 435,000 barrel-per-day (bpd) Whiting, Indiana refinery returned to normal operations for the first time since a February plantwide power outage, a company spokesperson said on Monday.Gasoline prices in the Chicago-area climbed by at least 20 cents a gallon in the days following the Feb. 1 power outage at the Whiting refinery. (Reporting by …

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Exxon Mobil CEO Says Not Trying to Acquire Hess

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

Exxon Mobil CEO Darren Woods on Monday said his company is trying to secure preemption rights over Hess Corp’s Guyana assets in its dispute with Chevron, not buy the company itself. In his first public remarks on the company’s pursuit of an arbitration case that could block Chevron’s $53 billion deal for Hess, Woods said Exxon …

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RESURGENCE: Exxon Chief Goes on the Offensive as Wall Street Sours on ESG

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

After coming under attack from both environmentalists and investors in the first half of his seven-year tenure at the helm of Exxon Mobil Corp., Darren Woods is on the offensive. Already this year, Woods filed an arbitration case against Chevron Corp. for attempting to buy into Exxon’s massive offshore oil project in Guyana and a lawsuit against …

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CERAWEEK 2024: Oil Mergers, Clean Fuels vie for Attention at Houston Energy Conference

Biofuels, Carbon Capture, Conferences, Conventional Energy, Energy Topics & Technology, Events, Exploration & Production, Latest, LNG, Mergers and Acquisitions, Natural Gas, Oil, Trade Shows, US News / By

HOUSTON, (Reuters) – Top oil executives and ministers descend on Houston this week for one of the world’s biggest energy conferences emboldened by blockbuster mergers, stable oil prices and less pressure for a large-scale move to clean fuels. Global oil prices have remained in a range between $75 and $85 per barrel, a level fueling …

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