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Tropical Storm Beryl to Have Little Impact on U.S. Offshore Oil Output

Conventional Energy, Energy Topics & Technology, Latest, Offshore, Oil, Pinned Primary, US News / By

Tropical Storm Beryl is expected to have little impact on U.S. offshore oil and gas production, energy companies said on Friday while evacuating personnel from some facilities out of caution. Beryl was downgraded from a hurricane and shifted over Mexico’s Yucatan Peninsula with maximum sustained winds dipping to 70 mph (113 kph), the U.S. National …

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Federal Judge Halts U.S. Government’s Ban on LNG Permits

Conventional Energy, Latest, LNG, Pinned Primary / By

A federal judge on Monday blocked the U.S. government’s ban on approving applications to export liquefied natural gas (LNG), in response to a lawsuit by Republican-led states. U.S. District Judge James Cain Jr, in Louisiana, a Trump appointee, ruled that the LNG export ban “be stayed in its entirety, effective immediately.” A coalition of 16 …

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U.S. Drillers Cut Oil and Gas Rigs for 4th Week to Lowest Since Dec 2021 -Baker Hughes

Conventional Energy, Latest, Pinned Primary, US News / By

June 28 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a fourth week in a row to the lowest since December 2021, energy services firm Baker Hughes (BKR.O), opens new tab said in its closely followed report on Friday. The oil and gas rig count, …

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U.S. Ready to Re-open Oil Stockpile if Petrol Prices Surge Again, FT Reports

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil, Pinned Primary / By

The Biden administration is ready to release more oil from the U.S. strategic stockpile to stop any jump in petrol prices this summer, the Financial Times reported on Monday. Senior Biden adviser Amos Hochstein told the newspaper that oil prices are “still too high for many Americans” and he would like to see them “cut …

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Oil Dips, but Posts Weekly Gain on Solid 2024 Demand Outlook

Conventional Energy, Latest, Oil, Pinned Primary, US News / By

Summary Brent, WTI post highest weekly increase since April U.S. consumer sentiment deteriorated to seven-month low in June EIA upgraded oil demand growth estimates for 2024 slightly U.S. oil rig count hits the lowest since January 2022 NEW YORK, June 14 (Reuters) – Oil futures prices settled slightly lower on Friday after a survey showed …

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Oil Prices Set for Best Week in Two Months on Demand Outlook

Conventional Energy, Latest, Oil, Pinned Primary, US News / By

(Reuters) – Oil prices were stable on Friday and on course for their best week in more than two months after solid projections for crude oil and fuel demand. Brent crude futures were down 19 cents, or 0.23%, at $82.56 a barrel by 1003 GMT. West Texas Intermediate (WTI) U.S. crude futures lost 32 cents, …

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Largest U.S. Oil Trade Group to Sue to Block Biden’s EV Push

Conventional Energy, Electric Vehicles, Energy Topics & Technology, Latest, Natural Gas, Oil, Pinned Primary / By

The nation’s largest oil trade group, which includes Exxon Mobil and Chevron, will file a federal lawsuit on Thursday seeking to block the Biden administration’s efforts to reduce planet-warming emissions from cars and light trucks and encourage electric vehicle manufacturing, the group said. The U.S. Environmental Protection Agency issued new tailpipe emission rules in March that will force …

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The Duo Atop the Biggest and Most Contentious U.S. LNG Exporter

Conventional Energy, Latest, LNG, Pinned Primary, US News / By

Summary The two industry outsiders upending LNG markets Venture Global LNG has shot up the ranks of gas exporters Customers BP, Shell say the pair flout industry norms HOUSTON, June 11 (Reuters) – U.S. liquefied natural gas (LNG) exporter Venture Global LNG this year became one of the country’s largest producers of the superchilled gas …

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How Devon Energy Missed Out on the U.S. Oil and Gas Mega-Deal Wave

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

(Reuters) – U.S. oil and gas producer Devon Energy has lost bids to acquire at least three of its peers in the last 12 months because its shares were spurned as acquisition currency, according to people familiar with the negotiations. Devon missed out on the sector’s dealmaking boom by losing to ConocoPhillipsthe $22 billion deal to …

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OPEC+ Extends Deep Oil Production Cuts into 2025

Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC, Pinned Primary / By

Summary OPEC+ prolongs some cuts by one year OPEC+ to phase out other cuts very slowly Group faces rising oil stocks, tepid demand growth (Reuters) – OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, …

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