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Reuters U.S. oil refiners are expected to have about 1.9 million barrels per day (bpd) of capacity offline for the week ending Jan. 26, decreasing available refining capacity by 178,000 bpd, research company IIR Energy said on Wednesday. Offline capacity is expected to further fall to 1.58 million bpd in the week ending Feb. 2, …
US Oil Refiners’ Weekly Capacity Seen Down 178,000 Bpd -IIR Read More »
International Energy Agency data shows the cartel and its allies may need to restrain supplies all year. OPEC’s mission to defend oil prices this year is starting to look even harder. The cartel and its allies launched new production cuts this month to stave off a global oil surplus, and group leader Saudi Arabia said …
Energy Transfer does not expect the U.S. Army Corps of Engineers to shut down the Dakota Access oil pipeline (DAPL) after a long-pending environmental review of a section that runs under a lake and is opposed by nearby Native American tribes, Executive Chair Kelcy Warren said on Tuesday. A U.S. court in 2022 ordered the …
Energy Transfer: Dakota Access Oil Pipeline Won’t Shut after Environmental Study Read More »
ExxonMobil and Chevron lead the charge to secure future resource, but will this historic consolidation continue? CALGARY, Alberta (January 23, 2024) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company, is releasing its summary of Q4 and full-year 2023 upstream merger and acquisition (M&A) activity. Q4 recorded a massive …
$144B of Transactions in Recording-Setting 4Q23 for Upstream M&A Read More »
The U.S. energy sector has entered a new phase of consolidation as the industry went on a $250-billion buying spree in 2023, and experts see more transactions on the horizon. The majority of energy executives polled in December by the Federal Reserve Bank of Dallas expected more oil deals worth $50 billion or higher to …
More U.S. Energy Deals Likely in 2024 in Wave of Consolidation Read More »
WASHINGTON — The U.S. government has been asked to explain to a federal appeals court precisely how it believes the country’s 1977 pipeline treaty with Canada should impact efforts to shut down the controversial cross-border Line 5. A forthcoming Department of Justice brief will mark the Biden administration’s first public foray into the long-running dispute …
U.S. Department of Justice Preparing Legal Brief as Both Sides Appeal Line 5 Decision Read More »
Move comes after Sunoco sold convenience stores to 7-Eleven Deal would add crude oil transportation and storage for Sunoco Sunoco LP, a US gas station owner, agreed to acquire pipeline and fuel storage company NuStar Energy LP for about $7.3 billion in a move to diversify its business and buy up a key part of its supply …
Gas Station Owner Sunoco to Buy NuStar Energy for $7.3 Billion Read More »
Halliburton Profit Beats on International Strength (Reuters) – Halliburton’s fourth-quarter profit beat market expectations on Tuesday as strength in offshore and overseas drilling activities internationally boosted demand for oilfield services and equipment. The Houston-based company said adjusted net income stood at 86 cents per share for the three months ended Dec. 31, compared with 80 cents …
Halliburton Profit Beats on International Strength Read More »
Reuters Jan 22 (Reuters) – Sunoco (SUN.N) said on Monday it would acquire NuStar Energy (NS.N) in an all-equity transaction valued at about $7.3 billion, including assumed debt.
Texas oil giant wants court to interpret SEC rule-making Exxon names Follow This, Arjuna Capital as defendants in case Exxon Mobil Corp. filed a lawsuit against US and Dutch climate activist investors in an effort to remove what it describes as their “extreme agenda” from the ballot at its annual shareholder meetings, and force a stricter …
Exxon Sues ESG Investors to Stop Climate Proposals on Ballot Read More »
