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Oil Shipments at Risk From Rising Sea Levels, Think Tank Warns

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

(Reuters) – Rising sea levels could severely disrupt crude oil shipments and erode energy security in import-dependent countries like China, South Korea and Japan, with many of the world’s biggest terminals vulnerable to flooding, researchers said on Tuesday. Melting ice and swelling seas caused by rising temperatures could “unleash unstoppable multi-metre (sea level rise) which …

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Conflict-Fueled Energy Swings Aren’t Over, Woodside CEO Says

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Sector continuing to see impact from Ukraine and Middle East New sources of natural gas need to aid transition: Meg O’Neill Energy markets will continue to be impacted by the Russian invasion of Ukraine and the Israel-Hamas conflict, according to Woodside Energy Group Ltd., Australia’s largest oil and gas producer “The fallout has been massive, and …

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WildFire Energy Announces Eagle Ford Acquisition from Apache Corporation and Subsidiaries

Conventional Energy, Latest, Mergers and Acquisitions, Oil, Press Releases / By

Acquisition Creates the Largest Consolidated Acreage Position in the entire Eagle Ford Shale Basin HOUSTON, May 20, 2024 /PRNewswire/ — WildFire Energy I LLC (“WildFire”), today announced that it has entered into a definitive agreement for the acquisition of approximately 237,000 net acres and interests in 465 wells in the East Texas Eagle Ford from …

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First Canadian Oil Export Cargo from Expanded Trans Mountain Pipeline Set to Load

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

Crude oil tanker Dubai Angel on Monday moored at the Westridge Marine Terminal in Vancouver, preparing to load the first cargo of crude oil from the recently expanded Trans Mountain pipeline (TMX), ship tracking data showed. Chartered by Canadian oil producer Suncor Energy, the Marshall Islands-flagged vessel was expected to load about 550,000 barrels of …

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North Sea energy Firms Look Beyond UK After Tax Squeeze

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North Sea oil and gas producers are merging and shifting overseas as Britain’s windfall tax slashes profits and as the opposition Labour Party threatens more tax if it wins the next general election. The change of strategy could accelerate the decline of domestic production, risking increased dependency on imports, greater vulnerability to higher consumer prices …

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President’s Death Makes Iran Even Less Predictable

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

By George Hay and Yawen Chen (Reuters Breakingviews) – The Middle East’s key generator of instability just got even harder to read. As demonstrated by its recent missile attacks on Israel, Iran is one of the main reasons why global investors hesitate to commit too much capital to the region. The death of President Ebrahim …

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U.S. Refiners Reward Shareholders With Big Returns Despite Softer Q1 Profits

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

NEW YORK, May 20 (Reuters) – Major U.S. fuel makers returned billions in capital to shareholders in the first quarter and boosted share repurchase programs, even as refining margins softened from recent records and utilization rates fell. Three of the biggest U.S. independent oil refiners – Marathon Petroleum (MPC.N), Phillips 66 and Valero Energy  – earned combined adjusted profits …

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Oil Steadies After Death of Iran’s President, Saudi King’s Ill Health

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

Summary Iranian President, foreign minister die in helicopter crash Saudi crown prince postpones Japan trip citing king’s health Another Russian energy facility hit LONDON, May 20 (Reuters) – Oil prices held steady on Monday amid political uncertainty in major producing countries after Iran’s president died in a helicopter crash and Saudi Arabia’s crown prince deferred a trip …

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Oil Set for Weekly Gain on Hopes of Firmer Demand

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(Reuters) – Oil prices steadied on Friday, with global benchmark Brent set for its first weekly gain in three weeks as economic indicators from big consumers China and the United States bolstered hopes for higher demand. China’s industrial output rose 6.7% year on year in April as recovery in its manufacturing sector gathered pace, accelerating from 4.5% …

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Oil, Gas Groups Sue to Block U.S. Rule Raising Drilling fees on Public Lands

Latest, Natural Gas, Oil, US News / By

Fossil fuel groups have sued the U.S. Bureau of Land Management seeking to block a rule that will raise fees for oil and gas development on federal lands as a part of the U.S. government’s broader effort to boost returns and address environmental harms stemming from drilling on public lands. The Western Energy Alliance, a …

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