By Gavin Maguire LITTLETON, Colorado, (Reuters) – The failure of the Nova Kakhovka dam in southern Ukraine this week has brought sharp focus on the important role that hydroelectric dams play in energy generation around the world, and the struggles many are under in 2023 due to harsh weather. The breach of the Kakhovka dam came …
(Reuters) – U.S. crude oil stockpiles fell unexpectedly last week as refiners cranked out fuel to the highest level since 2019 during the Memorial Day holiday, the Energy Information Administration (EIA) said on Wednesday. Refinery crude runs (USOICR=ECI) rose by 482,000 barrels per day (bpd), while refinery utilization rates (USOIRU=ECI) increased by 2.7 percentage points in the week …
US crude inventories notch surprise drawdown on refinery runs Read More »
U.S. natural gas futures climbed more than 2% to a one-week high on Wednesday, as forecasts for warmer weather bolstered the demand outlook for the fuel to cool homes and businesses. Front-month gas futures for July delivery on the New York Mercantile Exchange traded 5.6 cents higher, or 2.5%, to $2.32 per million British thermal …
US natgas climbs as hot weather outlook boosts power demand prospects Read More »
SUGAR LAND, Texas–(BUSINESS WIRE)–Researched by Industrial Info Resources– Workers at Cenovus Energy Incorporated’s (NYSE:CVE) (Calgary, Alberta) Toledo refinery in Ohio hope to restart the facility’s 110,000-barrel-per-day (BBL/d) Crude 1 (Sour) Unit this week followed by the sequential startup of the rest of the facility in the upcoming week. The 160,000-BBL/d refinery has undergone extensive repairs following …
Cenovus continues with restart of Ohio refinery, an Industrial Info news alert Read More »
With an uncertain picture on oil supply and demand, traders are searching for any clear clues on where the market is headed. On Sunday, Saudi Arabia announced unilateral cuts to crude production, on top of already pledged reductions in output that it is making alongside other producer nations. Oil futures initially rose, then fell again because the …
Here’s What Refining Margins Say About the State of the Oil Market Read More »
WASHINGTON — Protesters chanted “dirty deal” and belted out a John Denver favourite Tuesday as they disrupted moderate Democrat Sen. Joe Manchin to let him know what they think of the newly fast-tracked Mountain Valley pipeline. Manchin, long a key sw…
Reuters Kazakh Energy Minister Almasadam Satkaliyev said on Tuesday that the government plans to go ahead with the $16.5 billion claims against international oil majors over costs and has no plans for a possible out-of-court settlement. In April, Kazakhstan started arbitration proceedings against companies developing its Kashagan and Karachaganak oilfields over $13 billion and $3.5 …
Kazakhstan to go ahead with $16.5 bln claims against oil majors Read More »
(Bloomberg) — Wages for US oil workers climbed above $43 an hour for the first time ever as employment held steady in the shale patch and explorers push to maintain their slow production growth. Average hourly earnings for front-line oil-and-gas workers rose 0.7% in April from the previous month to $43.28, according to a Labor …
Hourly Pay for US Shale Workers Tops $43, a Record in the Industry’s Hunt for Employees Read More »
Summary U.S. EIA short-term energy outlook due on Tuesday LONDON, June 6 (Reuters) – Oil prices tumbled more than $1 a barrel on Tuesday, after a strong rally in the previous session as worries about global economic growth outweighed Saudi Arabia’s pledge to deepen output cuts. Brent crude futures were down $1.50, or 1.96%, to …
Oil Falls as Economic Fears Overshadow Saudi Output Cut Read More »
HOUSTON, June 5 (Reuters) – U.S. crude oil exports, already running close to a record level hit in March, should get a further boost next month from deep production cuts in Saudi Arabia, analysts said on Monday, noting that this will also further deplete U.S. crude inventories, which have been hovering near historic lows. Saudi …
US Crude Oil Exports to Gain Tail Winds from Saudi July Output Cut Read More »
