TotalEnergies to Invest $400MM in LPG
TotalEnergies is investing more than $400 million into LPG to provide more than 100 million people in Africa and Asia access to clean cooking methods by 2030.
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Exclusive: ChampionX, SLB’s Pending Merger Advances the Incremental Barrel
Soma Somasundaram, president and CEO of ChampionX, emphasized the advantages of the company’s pending merger with SLB in drilling the incremental barrel, as well as the oilfield services sector’s role in the path to net zero.
Tech Trends, OTC Edition: Drills & Bits
In this month’s Tech Trends, which takes place at the 2024 Offshore Technology Conference, new drilling technologies are on display as well as other bits that ensure efficient operations.
U.S. Natgas Prices Ease on Lower Demand Forecast, Storage Oversupply
U.S. natural gas futures eased about 1% on Tuesday from a 15-week high in the prior session on forecasts for lower demand over the next two weeks than previously expected and worries about a big oversupply of gas in storage. Analysts forecast the amount of gas in storage was around 31% above normal levels for …
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U.S. Offers Conditional $1.66 Billion Loan to Hydrogen Producer Plug Power
(Reuters) – The U.S. Energy Department on Tuesday said it has offered a conditional loan guarantee of up to $1.66 billion to Plug Power Inc to help it build up to six plants to produce clean hydrogen. The hydrogen fuel from the plants is expected to power fuel cell-electric vehicles used in material handling, transportation, and …
U.S. Offers Conditional $1.66 Billion Loan to Hydrogen Producer Plug Power Read More »
JPMorgan Chase & Co. CEO Met With Texas AG as State Bans Banks Over ESG Policies
The April meeting with the JPMorgan CEO took place in New York Banks are being examined for their stance on oil and gas JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon met with Texas Attorney General Ken Paxton as the Republican official threatens to bar more banks from helping the state and its local governments sell bonds to raise …
JPMorgan Chase & Co. CEO Met With Texas AG as State Bans Banks Over ESG Policies Read More »
Diesel in the Doldrums as Weak Demand Prompts Refiner Run Cuts
Asian margins for the fuel have almost halved since February The drop in profits has come as a surprise: Wood Mackenzie Returns from making diesel have fallen sharply over the last few months as supply of the industrial and transport fuel has outpaced demand, spurring refiners to cut run rates and focus on producing gasoline …
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Arthur L. Irving, Billionaire Canadian Oilman, Dies at 93
His company, Irving Oil, owns more than 900 gas stations ‘He’ll be considered one of the great oilmen in North America’ Arthur L. Irving, the Canadian billionaire who modernized the nation’s largest refinery, expanded a network of service stations bearing his family’s name and helped win support for a cross-country oil pipeline, has died. He …
Arthur L. Irving, Billionaire Canadian Oilman, Dies at 93 Read More »
ISS Recommends Hess shareholders Abstain from Voting for Merger with Chevron
Proxy advisory firm ISS recommended on Monday that Hess shareholders abstain from voting for Chevron’s proposed $53 billion acquisition of Hess. Hess shareholders are set to vote on the deal at a meeting scheduled for May 28. ISS questioned the timing for the vote amid uncertainty around the deal due to an arbitration process filed …
ISS Recommends Hess shareholders Abstain from Voting for Merger with Chevron Read More »
Heavy Oil Discount Steadies
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) held steady on Monday:* WCS for June delivery in Hardisty, Alberta, settled at $12.75 a barrel below WTI, according to brokerage CalRock, unchanged from Friday’s closing price. * Canadian heavy crude has strengthened this month as the …