PureWest, Gunvor Group Form Low-Carbon Gas Partnership
Gunvor will offtake PureWest’s third-party verified, low-carbon natural gas attributes, which may be unbundled or bundled with physical gas, a news release says.
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Carlos Slim Is Quietly Becoming Pemex’s Partner of Last Resort
By Amy Stillman, Scott Squires, and Andrea Navarro Carlos Slim Photographer: Luis Antonio Rojas/Bloomberg The transformation of Mexico’s richest person into its most important oil baron came about slowly, almost subtly. Carlos Slim built up a stake in Talos Energy Inc. before flipping it for the company’s Mexican unit. There was a 2023 deal for …
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Global Oil Stockpiles Are Rising Fast as OPEC+ Hikes Supply
By Alex Longley Oil inventories have risen sharply across the world in recent weeks, a sign of the pressure that higher output from OPEC+ could place on the global crude market as the year progresses. Crude oil stockpiles globally rose by about 170 million barrels in the past 100 days, according to Kayrros, which monitors …
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Meta to Buy Nuclear Power From Constellation as AI Demand Soars
By Will Wade and Riley Griffin The Clinton Power Station in Clinton, Illinois. Photographer: John Dixon/The News-Gazette/AP Photo Constellation Energy Corp. agreed to sell power from an Illinois nuclear plant to Meta Platforms Inc. as artificial intelligence sends power demand soaring. The parent company of Facebook, Instagram and WhatsApp signed a 20-year contract to buy …
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COMMENTARY: BP Needs to Scrap its Big Oil Mentality, and its Buybacks
By Ron Bousso BP’s net debt reached $27 billion by end of Q1 CEO aims to reduce net debt to $14-$18 billion by 2027 Shares have underperformed rivals since strategy reset in February LONDON, June 3 – BP has jumped from crisis to crisis in recent years, severely eroding the British firm’s stature as one …
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TotalEnergies Grows UK Solar, Battery Portfolio with Low Carbon Deal
The acquisition from Low Carbon includes 350 megawatts (MW) of solar projects and 85 MW of battery projects, TotalEnergies says.
Canada PM Carney Open to New Canada Oil Pipeline Tied to Carbon Capture
Mark Carney suggests building a new pipeline to ship more oil to foreign markets, tied to billions in green investments to reduce the industry’s environmental footprint. Summary by Bloomberg AI Alberta Premier Danielle Smith proposes a “grand bargain” that includes rapid approval of a new pipeline alongside large investments from Canadian oil sands companies into …
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Fugro Remote Inspection Technologies Put Everything on the Map
Dutch geodata company Fugro is expanding remote operations in energy and other industries.
Shell-BP Merger’s Key Ingredient is Time
(Reuters Breakingviews) – Wael Sawan must feel like it’s Groundhog Day. In recent weeks Shell’s chief executive has been fielding one question over and over again: whether he’s considering merging his $198 billion group with struggling UK rival BP. Drill down into whether a swoop for the $77 billion oil major makes any sense, and Sawan’s lack …
Venezuela’s Oil Exports Stable as Buyers in China Receive More
Venezuela’s oil exports remained almost unchanged last month as increased shipments to customers in China offset a decline in U.S.-authorized sales, according to vessel-tracking data and internal documents from state company PDVSA. The U.S. Treasury and State departments in March revoked the authorizations they had granted in recent years for PDVSA’s customers and partners to …
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