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U.S. Saudi Crude Imports Fall as West Coast Refiners Turn to Canada’s TMX Pipeline

Conventional Energy, Latest, Oil, US News / By

U.S. imports of crude oil from Saudi Arabia hit a near four-year low last week, U.S. government data showed on Wednesday, as Canada’s Trans Mountain pipeline sent more oil to the U.S. West Coast. The $24.84 billion Trans Mountain pipeline (TMX) expansion started in May, nearly tripling capacity to Canada’s Pacific Coast to 890,000 barrels …

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Chevron CEO Under Pressure to Halt Share Slide as Hess Deal Stalls

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Mergers and Acquisitions, Oil, Pinned Primary, US News / By

  Chevron earnings fail to cover dividends, buybacks Delayed Hess deal a drag on the company’s share price Guyana volumes crucial for long-term oil output gains (Reuters) – Five years ago, Chevron CEO Michael Wirth won Wall Street acclaim as the No. 2 U.S. oil company briefly achieved a market value larger than Exxon Mobil’s after he …

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Oil Prices Stable After Boost From U.S. Fuel Demand

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

(Reuters) – Oil prices stabilized on Thursday after rallying the previous day on stronger than expected U.S. fuel demand and reports that producer group OPEC+ could delay a planned output increase. Traders are now awaiting the outcome of the U.S. presidential election on Nov. 5 and whether ceasefires can be brokered in the Middle East. …

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China’s BYD Revenue Eclipses Tesla for First Time as EV Giants Go Head to Head

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

Both electric carmakers have emerged as breakout threats to legacy automakers Bloomberg News BYD Co. Ltd. notched up another win over Tesla Inc. on Wednesday, reporting quarterly revenue that beat Elon Musk’s carmaker for the first time since the pair have gone head-to-head in global electric vehicles sales. Revenue for China’s best-selling automaker soared 24 per cent year-on-year to 201.1 billion …

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OPEC+ Could Delay December Oil Output Hike, Sources Say

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

By Alex Lawler, Olesya Astakhova and Dmitry Zhdannikov Output hike of 180,000 bpd due to proceed in December Decision on delay could come as soon as early next week Sources cite concern about economic backdrop and demand LONDON/MOSCOW, Oct 30 (Reuters) – OPEC+ could delay December’s planned increase to oil production by a month or …

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US Gasoline Stockpiles Hit 2-Year Low on Stronger Demand, EIA Says

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

By Georgina Mccartney HOUSTON, Oct 30 (Reuters) – U.S. gasoline stockpiles fell unexpectedly last week to a two-year low on strengthened demand, the Energy Information Administration (EIA) said on Wednesday, while crude inventories also posted a surprise drawdown as imports slipped. Gasoline stocks (USOILG=ECI) fell by 2.7 million barrels in the week ending Oct. 25 …

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ConocoPhillips Explores Sale of Permian Shale Assets Worth Over $1 Billion, Sources Say

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil, Shale, US News / By

ConocoPhillips is exploring a sale of some of its shale operations in the Permian Basin worth more than $1 billion, two years after an unsuccessful attempt to find a buyer for the same assets, people familiar with the matter said on Wednesday. The Houston, Texas-based oil and gas producer is looking to shed some non-core …

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Refiner Phillips 66 reports Q3 profit beat on midstream, chemicals strength

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

(Reuters) – Phillips 66 beat quarterly profit estimates on Tuesday as strength in its chemicals and midstream segments helped the refiner more than offset a slump in refining margins from lackluster fuel demand. The company, which owns nearly 72,000 miles of U.S. pipeline systems, has moved more fuel this year than before as it expands …

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US Seeks Up to 3 Million Barrels of Oil for Emergency Reserve

Conventional Energy, Latest, Oil, US News / By

Summary Move marks latest effort to increase oil reserve after 2022 sale Unclear how much money is left to buy more oil Future SPR replenishment depends on Congress amid political challenges (Reuters) – The U.S. on Monday said it is seeking up to 3 million barrels of oil for the Strategic Petroleum Reserve for delivery …

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Oil Hovers Near One-Month Lows With Supply Drivers Back in Focus

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary Brent, WTI inch up 0.5% Markets eye potential Israel-Hezbollah peace deal U.S. crude inventories unexpectedly fall – API To come: US EIA weekly data at 1430 GMT (Reuters) – Oil prices held steady near one-month lows on Wednesday, after sliding in the previous two sessions, as markets weighed a potential ceasefire between Israel and …

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