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Chevron has achieved a technological breakthrough, producing first oil from a U.S. Gulf of Mexico field under extreme subsea pressures, the energy company said on Monday. Its $5.7-billion project, called Anchor, ushers in an era of production from deepwater areas that had long been off-limits, because of the lack of equipment able to cope with …
Chevron Delivers Industry First in Ultra-High Pressure Oil Field Read More »
Market concerns about global growth may have been excessive this week as there is no evidence of an imminent U.S. recession, a co-founder of consultancy Energy Aspects said on Friday. “Overall, we do not believe the global economy is on the verge of a sudden downshift,” said Amrita Sen, director of research at Energy Aspects, …
No Evidence of Imminent U.S. Recession, Energy Aspects Says Read More »
(Reuters) – Oil prices settled higher on Friday and notched over 3.5% in weekly gains as positive economic data and signals from Fed policymakers that they could cut interest rates as early as September eased demand concerns, while fears of a widening Middle East conflict continue to raise supply risks. Brent crude futures settled 50 …
Oil Posts 3% Weekly Gains on Positive Economic Data, Rate Cut Hopes Read More »
(Reuters) – Oil prices held steady on Thursday after two sessions of gains, with growing supply risks in the Middle East offsetting demand concerns that had pushed prices to their lowest since early 2024 at the start of the week. Brent crude futures fell 8 cents, or 0.1%, to $78.25 a barrel by 1100 GMT. …
A U.S. court has overturned the Federal Energy Regulatory Commission’s (FERC) authorization for NextDecade’s Rio Grande LNG project for not issuing a supplemental environmental impact statement, the company said on Tuesday. The facility has been in development for several years, suffering repeated delays, and phase 1 is now expected to reach completion by early 2029 …
U.S. Court Overturns FERC’s Authorization for NextDecade’s Rio Grande Project Read More »
Summary Fear of wider Middle East conflict spurs buying US passes message to Iran not to escalate Financial markets recover after strong US services sector data (Reuters) – Oil prices pared gains in volatile trade on Tuesday as fears of an escalation in the Middle East conflict and a drop in production at Libya’s largest Sharara …
Oil Prices Steady, Supported by Middle East Supply Fears Read More »
Summary Demand concerns rise after weak US payrolls report Risk of wider Middle East conflict limits oil’s decline London, Aug 5 (Reuters) – Oil futures extended losses in a volatile session on Monday as fears of a recession in top oil consumer the United States offset supply worries stemming from mounting tensions in the Middle …
Oil Prices Drop as U.S. Recession Fears Spark Broader Selloff Read More »
By Reuters Private equity firm Quantum Capital Group will buy U.S. independent power producer Cogentrix Energy for about $3 billion from funds managed by the Carlyle Group, the companies said on Monday. Utilities are attracting increased investor interest as technological innovations, including artificial intelligence and data centers, bolster power demand. In May, investment firms …
Quantum Capital to Buy Cogentrix for $3 Bln in Bets on Rising U.S. Power Demand Read More »
(Reuters) – Hawaiian’s largest utility said on Friday it had agreed to pay roughly half of a more than $4 billion legal settlement that will compensate victims of last year’s deadly Maui wildfires. Blazes tore through Maui on Aug. 8 2023, killing over 100 people, destroying the historic coastal town of Lahaina and causing damage …
Hawaiian Electric Agrees to Pay About Half of $4 Billion Maui Wildfire Settlement Read More »
(Reuters) – Oil prices held steady on Friday but remained on course for a fourth successive weekly decline as signs of weak growth in global fuel demand outweighed fears of supply disruption in the Middle East. Brent crude futures were up 18 cents, or 0.2%, at $79.70 a barrel by 1040 GMT. U.S. West Texas …
Oil Prices Set for Fourth Weekly Fall on Demand Concerns Read More »
