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U.S. Department of Justice Preparing Legal Brief as Both Sides Appeal Line 5 Decision

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

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 …

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Gas Station Owner Sunoco to Buy NuStar Energy for $7.3 Billion

Energy Topics & Technology, Gasoline, Latest, Mergers and Acquisitions, Pinned Primary, US News / By

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 …

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Halliburton Profit Beats on International Strength

Energy Services, Energy Topics & Technology, Latest, Tri-Pinned, US News / By

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 …

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Exxon Sues ESG Investors to Stop Climate Proposals on Ballot

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

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 …

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U.S. Supreme Court Ruling on Agency Powers May Impact Biden ESG Investing Rule

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

An impending U.S. Supreme Court ruling that could curb the regulatory powers of federal agencies may play a critical role in a challenge by Republican-led states to a rule issued by President Joe Biden’s administration allowing socially conscious investing by employee retirement plans, a court filing filed.The 26 states, led by Utah and Texas, asked …

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U.S. Buys 3.2 Million Barrels of Oil for Strategic Petroleum Reserve

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

The United States bought 3.2 million barrels of oil for the Strategic Petroleum Reserve, as it continues to slowly replenish the stash after selling a record amount following Russia’s invasion of Ukraine in 2022, a Department of Energy document showed on Friday. The U.S. bought 1.4 million barrels from Exxon Mobil, 600,000 barrels from Macquarie Commodities …

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Who’s Right on Oil Demand Growth Forecasts for 2024?

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

Market participants appear to be putting greater faith in the IEA than they do in OPEC. Analysts from groups representing oil producers and consumers have radically different views of this year’s market. But OPEC doesn’t seem to believe its own experts. Oil demand will increase almost as fast this year as it did in 2023 …

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SLB Beats on Fourth-Quarter Profit on Strong International Demand

Energy Services, Energy Topics & Technology, Latest, Tri-Pinned, US News / By

(Reuters) – SLB  beat analysts’ estimates for quarterly profit on Friday and said it expects strong growth in its international business this year as resilient offshore and overseas drilling activity boosted demand for its oilfield services and equipment. Schlumberger has banked on international growth, primarily from the Middle East, Europe and Africa, in recent years as …

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In First Look at 2025, OPEC Expects Robust Oil Demand Growth

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

Summary OPEC sees oil demand rising by 1.85 mbpd in 2025 Sticks to 2024 oil demand growth forecast of 2.25 mbpd IEA to publish updated forecasts on Thursday LONDON, Jan 17 (Reuters) – OPEC on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2024 and said 2025 will see …

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