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Ovintiv Strengthens Portfolio with Core Oil-Rich Montney Asset Acquisition

Latest, Press Releases / By

Transaction to Significantly Expand Existing Montney Premium Oil Inventory, Company to Exit Uinta Basin with Asset Sale Highlights: Agreement reached to acquire approximately 109,000 net acres and approximately 70 thousand barrels of oil equivalent per day (“MBOE/d”) in the core of the Alberta Montney for $2.377 billion (C$3.325 billion) Acquisition will add approximately 900 total net well …

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AI Power Demand Complicates Low-Carbon Goals, Dominion CEO Says

Artificial Inteligence, Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Nuclear, US News / By

Data centers make it harder to retire fossil-fuel plants Demand also spiking from new factories and electric vehicles The boom in power demand from data centers and artificial intelligence creates a conflict between maintaining a reliable grid and cutting carbon emissions, according to the head of Dominion Energy Inc. “There’s a little bit of tension there …

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Republican Sweep Opens Way to Boost Oil and Gas Development

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

‘Slight’ limits likely on Biden clean energy tax incentives GOP also likely to roll back Biden environmental regulations Republicans are poised to pave the way to expand fossil fuel development, roll back Biden-era environmental regulations and curtail President Joe Biden’s signature climate law after securing unified control of Congress and the White House. Republicans completed the feat …

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Trump Threatens ESG Investing That Thrived in His First Term

Energy Topics & Technology, ESG, Latest, US News / By

Green funds took off the last time the Republican won the White House—but this time is different. Photographer: Christmas / Alamy When Donald Trump first won the White House in 2016, his victory created one of the all-time best sales pitches for green-minded investment funds: If Washington wasn’t going to push for a transition to …

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Exxon Plans to Cut Almost 400 Pioneer Jobs in Texas by 2026

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

Cuts will come mainly in Pioneer’s Irving and Midland offices More than 1,900 Pioneer employees were offered Exxon roles Exxon Mobil Corp. plans to lay off 397 employees from Pioneer Natural Resources Co. after purchasing the Permian Basin operator for $63 billion earlier this year. The cuts representing almost 20% of Pioneer’s pre-merger staff will come in seven …

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Carbon Markets Give Environmentalists Hope After U.S. Elections

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

By Ross Kerber (Reuters) – The opinions expressed here are those of the author, a columnist for Reuters. A rare bright spot for environmentalists in last week’s U.S. election results came in Washington State, where voters easily defeated an attempt to end the state’s carbon market by a margin of 62% to 38%. Analysts said the result …

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Inflation Pushes Norway’s Oil, Gas Sector to Record Investments

CDN and International News, Conventional Energy, Latest, Natural Gas, Oil / By

Summary Statistics office conducts oil, gas investment survey 2024 forecast steady vs August, 2025 outlook raised Rising costs drive up price of new field developments (Reuters) – Investment in Norwegian oil and gas projects will rise to a record this year and may increase further in 2025 as inflation pushes up the costs of development, …

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World Faces Oil Surplus in 2025 on Weak Demand, IEA Says

CDN and International News, Conventional Energy, Energy Topics & Technology, Forecasts, Latest, Oil / By

Summary Sees supply exceeding demand by over 1 mln bpd in 2025 IEA raises 2024 demand growth forecast by 60,000 bpd Leaves 2025 demand growth projection steady at 990,000 bpd (Reuters) – Global oil supply will exceed demand in 2025 even if OPEC+ cuts remain in place, the International Energy Agency (IEA) said on Thursday, …

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