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Export-Import Bank loan would finance more than 400 wells Plan runs counter to Biden’s pledge on fossil-fuel projects US Export-Import Bank leaders are moving forward with plans to underwrite the drilling of more than 400 oil and gas wells in Bahrain, even as President Joe Biden halts new liquefied natural gas export licenses over climate concerns. The …
U.S. Trade Bank Defies Biden to Expand Oil Drilling in Bahrain Read More »
Pipeline operator Plains All American Pipeline LP is looking to make more deals as merger and acquisition activity heats up across the oil and gas industry. “We’re hopeful that we’ll be successful on some bolt-on acquisitions,” Chief Financial Officer Al Swanson said on a quarterly earnings call Friday. Small acquisitions of Permian Basin crude gathering lines have helped boost …
Oil Pipeline Owner Plains Searches for Deals as Shale M&A Heats Up Read More »
Bloomberg Texas passed two laws in 2021 that restrict government contracts with companies that take what state officials regard as punitive stances toward the fossil fuels and firearm industries. They’re among the many new laws pushed by Republicans in states across the US to oppose ESG investing and financing, which they’ve made into a culture …
Why Texas Is Banning Banks Over Their ESG Policies Read More »
(Reuters) – Pipeline operator Enbridge missed fourth-quarter profit estimates on Friday, hurt by lower tolls related to its Mainline crude pipeline system and a decrease in earnings from the company’s gas segment. Enbridge reached a toll agreement for Mainline with oil shippers last year, which was lower than the previous one, after scrapping earlier plans for …
Enbridge Misses Fourth-Quarter Profit Estimates on Lower Mainline Tolls Read More »
BP Plc is acting to restore its 435,000 barrel-per-day (bpd) Whiting, Indiana, refinery to normal operations following a full shutdown because of a Feb. 1 plant-wide power outage, a company spokesperson said on Thursday. “BP is making progress on the work to restore the refinery to normal operations,” company spokesperson Christina Audisho said in an …
BP Sees Progress on Restoring Indiana Refinery Operations Read More »
(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 …
Duke Energy Misses Q4 Profit Estimates on Higher Interest Costs, Raises Capex Read More »
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 …
Biden’s EV Tax Credits in the Crosshairs for Gutting if Trump Wins Read More »
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 …
BP Whiting, Indiana Refinery to be Shut up to Three Weeks Read More »
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 …
OPEC+ Oil Cut Decision Is Really No Choice at All Read More »
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 …
U.S. Crude Stocks Rise as Oil Refiners Take in Less Oil – EIA Read More »
