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Chevron Arbitration to Go Into 2025, Exxon CEO Woods Tells CNBC

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil / By

U.S. energy major Exxon Mobil’s arbitration over Chevron’s plans to buy Hess’s Guyana oilfield stake will extend into 2025, Exxon CEO Darren Woods said to CNBC in an interview, souring expectations of a resolution this year. Exxon and CNOOC Ltd filed cases before the International Chamber of Commerce in March, seeking the right-of-first-refusal over any sale of Hess’s …

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U.S. Utility Allete Goes Private in $6.2 Bln Deal

Electricity Grid, Energy Topics & Technology, Latest, US News, Utilities / By

(Reuters) – Allete  said on Monday a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners would acquire the U.S. utility for $6.2 billion, including debt. The partnership would pay $67 per share in cash for all outstanding common shares of Allete, a premium of nearly 19.1% to the company’s closing share price …

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How Western Sanctions Are Strangling Putin’s Arctic Gas Ambitions

CDN and International News, Conventional Energy, Latest, Natural Gas / By

Pipeline exports to Europe have slumped, turning focus to LNG Novatek’s Arctic LNG 2 is crucial to expanding export capacity Bloomberg Russia’s fortress economy has proved remarkably resilient to an onslaught of Western sanctions. Two years after the Kremlin’s invasion of Ukraine, it continues to fund a costly war and to prop up President Vladimir Putin. …

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U.S. Oil and Gas Rig Count Falls to Lowest Since January 2022 – Baker Hughes

Conventional Energy, Drilling Rigs, Energy Topics & Technology, Latest, US News / By

May 3 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row, to the lowest since January 2022, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of …

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Gasoline Demand Growth to Slow This Year on EV Growth in China, U.S.

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

Gasoline demand growth to slow this year on EV growth in China, U.S. Summary China to make up more than half of global EV sales in 2024, impact gasoline demand European margins to weaken after new Nigeria refinery ups output U.S. gasoline consumption likely to be flat in 2024 -analysts (Reuters) – Global petrol demand …

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Oil Climbs as Gaza Tensions Rise, Saudi Arabia Hikes Prices

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary Prospects for Israel-Hamas truce narrow Saudi Arabia hikes June crude oil prices for most regions China’s April business sentiment rises, data shows (Reuters) – Oil futures climbed on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing fears the Israel-Hamas …

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After the Deal: Exxon to Take up to Two Years to hit Stride with Pioneer Purchase

Energy Topics & Technology, Exploration & Production, Latest, Pinned Primary / By

Exxon Mobil will take 18 to 24 months to achieve its desired production synergies from its $60 billion purchase of U.S. shale oil producer Pioneer Natural Resources, the company’s top shale executive said on Friday. Exxon this week closed all-stock acquisition after agreeing to an antitrust consent order that barred the former Pioneer CEO from joining …

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Oil Settles Down on U.S. Jobs Data, Steepest Weekly Loss in 3 Months

Conventional Energy, Latest, Oil, Tri-Pinned / By

Summary OPEC+ could extend supply cuts beyond June, sources say US job growth weaker than expected in April US drillers cut oil and gas rigs for second week in a row NEW YORK, May 3 (Reuters) – Oil prices settled lower on Friday, and posted their steepest weekly loss in three months as investors weighed …

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