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NEW YORK, May 31 (Reuters) – U.S. field production of crude oil rose in March to 12.696 million barrels per day, the highest since March 2020, when the COVID-19 pandemic began to decimate global energy demand, Energy Information Administration data showed on Wednesday. The higher crude output came as production in Texas rose 1.8% to …

US crude March output hits three-year high as Texas production grows, EIA says Read More »

LONDON, June 2 (Reuters) – Oil prices rose on Friday after a U.S. debt ceiling deal averted a default in the world’s biggest oil consumer, while attention turned to a meeting of OPEC ministers and their allies at the weekend. Brent crude futures rose 77 cents, or 1% to $75.05 a barrel by 0806 GMT, …

Oil Prices Rise After U.S. Debt Deal, All Eyes on OPEC Meeting Read More »

Exxon Mobil Chief Executive Darren Woods told an energy industry conference on Thursday he aims to double the amount of oil produced from its U.S. shale holdings over a five-year period using new technologies. “We are beginning to see the signs of some very promising new technologies” that will “significantly improve recovery” volumes, Woods said …

Exxon CEO says 5-Year Program Could Double its Shale Output Read More »

U.S. natural gas futures dropped about 4% on Thursday on record U.S. output and rising exports from Canada. Prices declined ahead of a federal report that is expected to show a bigger-than-usual storage build last week when mild weather limited demand for the fuel for both heating and cooling. The price decline occurred despite record …

US natgas futures drop 4% on record output ahead of storage report Read More »

Will supply more U.S. natural gas to Mexico and to LNG facility Reuters Canadian energy company TC Energy Corp.’s North Baja Pipeline LLC unit has received permission from U.S. energy regulators to put the North Baja natural gas pipeline expansion in Arizona and California into service. In a filing on May 30, the U.S. Federal …

TC Energy gets U.S. go-ahead to start service on natural gas pipeline expansion Read More »

Summary Debt ceiling bill passed by House of Representatives U.S. crude stocks up by 5.2 million barrels -market sources LONDON, June 1 (Reuters) – Oil steadied on Thursday as a potential pause in U.S. interest rate hikes and the passing of a crucial vote on the U.S. debt ceiling bill were offset by a report …

Oil steadies as U.S debt bill progress balanced by higher inventories Read More »

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HOUSTON, May 31 (Reuters) – Chemical maker LyondellBasell Industries (LYB.N) said on Wednesday that it plans to delay closing of its Houston, Texas, oil refining business to no later than the end of the first quarter in 2025. The company said last year it would close its 263,776 barrel-per-day Houston Refinery by the end of 2023, …

LyondellBasell Delays Houston Oil Refining Business Exit to 2025 Read More »

Exxon Mobil Corp. shareholders on Wednesday overwhelmingly supported the company’s views on climate reports and strategies, rejecting proposals for report on methane, greenhouse gas reporting and oil-spill preparations by a wide margin. None of the initiative proposals received more than 36% of votes cast, according to early results at the online shareholder meeting. Several of the …

Exxon Shareholders Soundly Reject all Climate-Related Petitions Read More »

Courtesy of Offshore Energy Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE PowerX announced plans to develop the world’s first battery-powered oil tanker, aiming for completion by 2025. The ship would be built for short distances, up to 300 kilometers, and charge at power stations located near the ports. READ MORE HERE