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Weak bids in Citgo Auction Spurs Venezuela to Pitch Alternative Pay Plan

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

HOUSTON/MIAMI, March 14 (Reuters) – The highest bid received in a U.S. auction of shares that will decide the fate of Venezuela-owned oil refiner Citgo Petroleum was $7.3 billion, enough to cover only a third of court-approved claims, two people familiar with the matter said. A federal court in Delaware is auctioning the shares of a parent …

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US Pump Prices Set to Jump as Refinery Outages Nip Supply, Analysts Say

Conventional Energy, Energy Topics & Technology, Gasoline, Latest, Oil, Tri-Pinned, US News / By

U.S. motorists are likely to see gasoline prices turn sharply higher in the coming weeks as major refinery outages have cut supplies ahead of a seasonal jump in demand, analysts said. The national average price for a gallon of gasoline has increased more than 9% from the start of the year to hover around $3.40 …

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Shell Weakens 2030 Carbon Emissions Reduction Target 

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

Shell weakens 2030 carbon emissions reduction target Summary Shell scales back 2030 emissions target Scraps 2035 target Introduces target to cut emissions from oil product sales (Reuters) – Shell   weakened its 2030 carbon reduction target and scrapped a 2035 objective, citing expectations for lower power sales and strong demand for gas in the energy transition …

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VAALCO Energy, Inc. Announces Fourth Quarter and Full Year 2023 Financial and Operating Results

Energy Topics & Technology, Exploration & Production, Latest, Press Releases / By

HOUSTON, March 13, 2024 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) (“VAALCO” or the “Company”) today reported operational and financial results for the fourth quarter and full year of 2023. The Company also provided 2024 operational and financial guidance for the first quarter and full year of 2024. 2023 Full Year Highlights:  …

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Profire Energy Reports Financial Results for Fourth Quarter and Full Fiscal Year 2023

Energy Topics & Technology, Exploration & Production, Latest, Press Releases / By

LINDON, Utah, March 13, 2024 (GLOBE NEWSWIRE) — Profire Energy, Inc. (NASDAQ: PFIE), a technology company (the “Company”) that provides solutions which enhance the efficiency, safety, and reliability of industrial combustion appliances, today reported financial results for its fourth quarter and full fiscal year ending December 31, 2023. A conference call will be held on …

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U.S. Gasoline Stockpiles Slump More Than Forecast on Higher Demand – EIA

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

U.S. crude oil stockpiles fell unexpectedly last week while gasoline inventories slumped as demand for the motor fuel rose even as refiners ramped up activity after maintenance and outages, the Energy Information Administration (EIA) said on Wednesday. After six straight weeks of builds, crude inventories fell by 1.5 million barrels to 447 million barrels in …

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Shell Publishes Energy Transition Strategy 2024

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

Shell Publishes Energy Transition Strategy 2024 Shell will continue its drive to halve emissions from its operations (Scope 1 and 2) by 2030, compared with 2016 on a net basis. By the end of 2023, Shell had achieved more than 60% of this target. Shell also reduced the net carbon intensity of the energy products …

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Methane Emissions from Energy Sector Near Record High in 2023, IEA Says

Conventional Energy, Energy Topics & Technology, Latest, Methane, Natural Gas, Oil, Tri-Pinned, US News / By

(Reuters) – Methane emissions from the energy sector remained near a record high in 2023 despite a raft of commitments from the oil and gas industry to plug leaking infrastructure, a report by the International Energy Agency said on Wednesday. However, the agency said it was optimistic new satellites could help improve monitoring and transparency around leaks …

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OPEC Sticks to Oil Demand View, Nudges Up Economic Growth

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

Sticks to 2024 oil demand growth forecast of 2.25 mbpd OPEC Feb output rises 203,000 bpd despite new OPEC+ cuts IEA to publish updated forecasts on Thursday OPEC, IEA at most divided on oil demand since at least 2008 LONDON, March 12 (Reuters) – OPEC on Tuesday stuck to its forecast for relatively strong growth …

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Nord Stream Sues Insurers in London Over 2022 Pipeline Blasts

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

Reuters (Reuters) – Nord Stream is seeking more than 400 million euros ($436 million) from its insurers over explosions in 2022 which ruptured pipelines designed to transport Russian gas to Germany, court filings show. Nord Stream AG names Lloyd’s Insurance Company and Arch Insurance (EU) DAC as defendants in its lawsuit, which was filed at London’s High …

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