(Reuters Breakingviews) – Orsted has learned the hard way how strong economic tailwinds can go into reverse. Less than a year ago the world’s top offshore wind farm developer by power capacity was eyeing rapid growth in the United States, where President Joe Biden’s green subsidies were supercharging the industry. Then rapid interest rate hikes …
Orsted Revival Requires More Than Belt-Tightening 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 »
Reuters WASHINGTON, Feb 8 (Reuters) – A top U.S. Department of Energy official is set on Thursday to defend President Joe Biden’s pause on approvals of liquefied natural gas (LNG) exports at a Senate hearing called by a fellow Democrat who said he will investigate the decision. Deputy U.S. Energy Secretary David Turk will testify before the …
Top Biden Official to Defend LNG Pause in Senate Hearing Read More »
Reuters Feb 8 (Reuters) – U.S. oil and gas producer ConocoPhillips beat Wall Street estimates for fourth-quarter profit on Thursday, helped by higher production in the Permian Basin and from a recent acquisition. The company had bought an additional 50% stake from TotalEnergies in the Surmont facility in Canada in 2023 that increased its output. Quarterly …
Oil Producer ConocoPhillips Beats Quarterly Profit Estimates on Higher Production 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 »
(Reuters) – Oil prices gained ground on Thursday as investors considered the impact of Israel’s rejection of a ceasefire offer from Hamas and unexpected drops in U.S. fuel stocks. Brent crude futures rose 81 cents, or 1.02%, to $80.02 a barrel by 1239 GMT. U.S. West Texas Intermediate crude futures were up 72 cents, or …
Oil Rises on Gaza Ceasefire Rejection and U.S. Stock Data 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 »
By the Bloomberg The Editorial Board The Editorial Board publishes the views of the editors across a range of national and global affairs. Halting new approvals of exports is bad for the US, bad for America’s allies and most likely bad for the climate. President Joe Biden’s Department of Energy has halted pending approvals of exports of liquefied natural gas …
Biden decision was political, Nick Dell’Osso says in interview One-year pause is ‘meaningful’ for the industry, he says The Biden administration’s pause on new licenses to export liquefied natural gas will hurt consumers, the environment and US allies, according to the head of one of the country’s top gas producers. “It works counter to a number of …
Chesapeake CEO Says Biden’s LNG Review Hurts Consumers and U.S. Allies Read More »
