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Shell Earns $1 Billion a Year From U.S. Crude Trading, Court Filing shows

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

(Reuters) – Financial details of Shell’s  vast oil and gas trading business are some of the company’s closest-held secrets. Documents in a lawsuit filed by a former employee, however, revealed its U.S. crude trading regularly earns around $1 billion every year. Testimony by a former head of Shell’s U.S. crude trading division filed in a Texas …

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Turkey in Talks with ExxonMobil Over Multibillion-Dollar LNG Deal, FT Reports

CDN and International News, Conventional Energy, Latest, LNG / By

Turkey is in talks with US energy giant ExxonMobil over a multibillion-dollar deal to buy liquefied natural gas, in an effort to curb its dependence on Russian energy, the Financial Times reported on Sunday. The country is seeking to build a “new supply portfolio” that will make it less reliant on any single partner, Turkey’s …

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Italy Pushes G7 For Coal Phase-Out Date Ahead of Energy Meeting, Sources say

CDN and International News, Coal, Conventional Energy, Latest / By

Italy is pushing for an agreement among the Group of Seven wealthy nations to set a target date for the phase-out of coal in power generation, diplomatic sources said ahead of a meeting of G7 energy ministers in Turin. An agreement on this would be one step in the direction indicated by the COP28 United …

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Diamondback Energy, Inc. Receives Stockholder Approval for Proposed Transaction with Endeavor Energy Resources, L.P.

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MIDLAND, Texas, April 26, 2024 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced that its stockholders have approved the issuance of shares of Diamondback common stock in connection with the proposed business combination with Endeavor Energy Resources, L.P. (“Endeavor”). Additionally, Diamondback stockholders approved a proposal to amend the Company’s …

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Texas Power Prices Signal Grid Stress in Another Long, Hot Summer

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

August prices for Dallas hit an 82% premium from a year ago Grid operator Ercot issues power warning for next week A surge in Texas power prices for August suggests another summer of heavy electricity demand — and potential grid strain — to meet air-conditioning needs. Traders start looking at prices months in advance to …

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Texas Natural Gas Prices Plummet After Pipeline Fire

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

Intraday cash prices at Waha fall to about -$3 per million Btu Kinder Morgan shut a pipeline segment, trapping gas in region   Natural gas prices in West Texas under pressure from a glut in supply sank even further into negative territory after a segment of a pipeline system was shut following a fire, threatening …

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TotalEnergies CEO Says World Must Adapt to Warming as Oil Thirst Lingers and Renewable Energy Efforts Continue

Conventional Energy, Latest, Natural Gas, Oil, US News, Wind / By

Demand likely to remain above 100 million b/d as late as 2040 Firm sees criticism despite $5 billion annual low-carbon spend The world could still be using more than 100 million barrels a day of oil by 2040, making it vital to start preparing and adapting for a warmer climate, said TotalEnergies SE Chief Executive Officer Patrick Pouyanne. …

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Hess Sets May 28 Shareholder Vote on Chevron Buyout

Energy Topics & Technology, Exploration & Production, Latest, Mergers and Acquisitions, US News / By

Hess Corp set May 28 for a special meeting of shareholders to vote on Chevron Corp ‘s $53 billion buyout offer, the company said in a securities filing on Friday. Chevron last October offered to acquire Hess Corp in a move to gain a foothold in oil-rich Guyana’s lucrative offshore fields. The deal has been stalled …

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Kinder Morgan Declares Force Majeure on West Texas Natgas Pipeline

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

Pipeline operator Kinder Morgan said on Friday a fire that erupted on a west Texas natural gas pipeline it operates was extinguished after burning for most of the day. The Houston company declared force majeure on a segment of the pipeline in Ward County, Texas, following the fire, according to a notice filed on a …

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