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Chinese state-backed oil and chemicals company Sinochem is planning to sell its 40% stake in a U.S. shale joint venture with oil major Exxon Mobil, valued upwards of $2 billion, people familiar with the matter told Reuters. Sinochem in recent weeks hired investment bankers at Barclays to advise it on the potential sale of its …
China’s Sinochem Plans to Exit U.S. Shale JV With Exxon Read More »
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row for the first time since late June, 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, fell …
U.S. Drillers Cut Oil and Gas Rigs for Third Week in a Row, Baker Hughes says Read More »
Deals expand ONEOK’s presence in the prolific Permian Basin It’s the latest in a spate of takeovers in the pipeline sector US pipeline operator ONEOK Inc. agreed to buy a Permian Basin rival and a controlling stake in another company in two transactions valued at a combined $5.9 billion. ONEOK will acquire Global Infrastructure Partners’ …
U.S. Pipeline Operator ONEOK Inks Two Deals for $5.9 Billion Read More »
(Reuters) – Japanese start-up Helical Fusion aims to launch the world’s first steady-state nuclear fusion reactor in 2034 and to begin commercial operations in the 2040s, its CEO told Reuters. Despite global efforts to harness fusion, the reaction that powers the sun, to produce emissions-free power, 70 years of research have yet to produce a commercially viable …
Japan Start-up Aims to Launch World’s First Steady-State Fusion Reactor in 2034 Read More »
By Mark Shenk Industry Insight from Reuters Events, a part of Thomson Reuters. Summary Falling costs and federal tax credits have improved the economics of large-scale battery storage but a busy market brings grid, permitting and supply chain risks. U.S. utility-scale battery deployment is surging as developers seek to secure tax credits introduced in the 2022 …
U.S. Energy Storage Surge Will Reward Market-Savvy Developers Read More »
Donald Trump would rescind many of President Joe Biden’s clean energy rules while also speeding approvals of power plants to meet the nation’s rising electricity demands, the Republican’s presidential campaign said on Thursday. Should he win the Nov. 5 election, Trump would axe clean energy regulations of Biden and his opponent, Vice President Kamala Harris, …
Trump Would Axe Biden Clean Power Rules, Speed Power Plant Approvals, Campaign Says Read More »
(Reuters) – The Alette Maersk was the first container vessel powered by low-carbon methanol fuel to cross the Pacific Ocean – a milestone in the shipping industry’s effort to reduce its climate impact. But when the 1,148-foot (350-meter) vessel arrived at the Port of Los Angeles from China last week, there was nowhere in the …
Maersk Says Ocean Shipping’s Zero-Emissions Push Needs Government Support Read More »
Crude inventories fell by 846,000 barrels to 425.2 million barrels in the week ended August 23, the Energy Information Administration (EIA) said on Wednesday, compared with analysts’ expectations in a Reuters poll for a 2.3 million-barrel draw. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 668,000 barrels in the week, the EIA said. …
Crude and Gasoline Stocks fall, Distillates Rise, EIA Data Shows Read More »
The state leading in vehicle electrification reckons with the costs of the energy transition and who pays for it. By Liam Denning Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column. California wants …
Summary Tech giants are acquiring energy assets from bitcoin miners Data centers could use up to 9% of US electricity by decade’s end, EPRI says Bitcoin miners face challenges repurposing for AI due to high costs and infrastructure needs Aug 28 – U.S. technology companies are pursuing energy assets held by bitcoin miners as they …
AI’s Race for U.S. Energy Butts Up Against Bitcoin Mining Read More »
