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Duke Energy Misses Q4 Profit Estimates on Higher Interest Costs, Raises Capex

Energy Topics & Technology, Latest, Utilities / By

(Reuters) – Utility firm Duke Energy missed fourth-quarter profit estimates on Thursday on higher interest expenses and raised its five-year capex by $8 billion to support its transition to renewable energy. The U.S. Federal Reserve’s interest-rate hikes to tame inflation have made borrowing more expensive for businesses, impacting utility firms like Duke. The company’s quarterly interest …

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Biden’s EV Tax Credits in the Crosshairs for Gutting if Trump Wins

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

A second Trump administration could tighten the rules for the $7,500 credits so fewer cars qualify Bloomberg News U.S. President Joe Biden’s EV tax credits could be on the chopping block if Donald Trump wins the presidential election at the end of this year. PHOTO BY THE ASSOCIATED PRESS It’s never been cheaper to buy an …

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BP Whiting, Indiana Refinery to be Shut up to Three Weeks

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

BP Plc plans to keep the 435,000 barrel-per-day (bpd) Whiting, Indiana refinery shut for up to three weeks for inspections of units and piping following a Feb. 1 plant-wide power outage, said people familiar with operations on Wednesday. The inspections could be completed in as short a time as two weeks, the sources said. (Reporting …

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OPEC+ Oil Cut Decision Is Really No Choice at All

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

With prices dropping during the four months since Hamas attacked Israel, producers will need to stick with current curbs. OPEC+ plans to decide in the coming weeks on extending oil supply cutbacks into the second quarter. But its choice looks like an open-and-shut case. Saudi Arabia and its allies are withholding roughly 2 million barrels of daily …

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U.S. Crude Stocks Rise as Oil Refiners Take in Less Oil – EIA

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

NEW YORK, Feb 7 (Reuters) – U.S. crude stocks rose as oil refiners took in less oil, following extreme cold weather that knocked out utilization last month, the Energy Information Administration said on Wednesday. Crude inventories rose by 5.5 million barrels to 427.4 million barrels in the week ended Feb. 2, the EIA said, compared …

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NORD STREAM: What’s Known About the Mystery Pipeline Explosions?

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

STOCKHOLM, Feb 7 (Reuters) – Sweden announced on Wednesday that it had dropped its investigation into the explosions in 2022 on Nord Stream pipelines carrying Russian gas to Germany and had handed evidence it had uncovered over to German investigators. Here is what we know so far about the blasts, which destroyed three out of four pipelines, …

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Sweden Ends Nord Stream Sabotage Probe, Hands Evidence to Germany

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

Sweden ends Nord Stream sabotage probe, hands evidence to Germany Summary Sweden says no evidence its citizens involved in blasts Plans to hand information it has gathered over to Germany Russia says it is watching to see what Germany does STOCKHOLM, Feb 7 (Reuters) – Sweden on Wednesday dropped its investigation into the explosions in …

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BP Continues Assessment of Whiting, Indiana, Refinery After Power Loss

Energy Topics & Technology, Latest, Refineries / By

BP Plc was continuing assessments on Monday of production units at its 435,000 barrel-per-day (bpd) Whiting, Indiana, refinery following a plant-wide power outage on Thursday, said people familiar with the matter. BP was developing plans and schedules for restarting the refinery, the largest in the U.S. Midwest, once the evaluation of the refinery’s condition is …

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Rare Earths Prices Seen Rebounding in Second Half of 2024

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

(Reuters) – Rare earth prices have likely bottomed out and are poised to rise later this year on demand from electric vehicles (EVs) and wind power and as dominant producer China is expected to pull back on expanding output quotas, analysts said. Rare earths are a group of 17 elements used in products from lasers …

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U.S. Oil Refiners’ Weekly capacity Seen Up 110,000 Bpd – IIR

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

U.S. oil refiners are expected to have about 1.9 million barrels per day (bpd) of capacity offline for the week ending Feb. 9, increasing available refining capacity by 110,000 bpd, research company IIR Energy said on Monday. Offline capacity is expected to fall to 1.1 million bpd in the week ending Feb. 16, IIR added. …

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