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U.S. Unveils Charges, Seizures Linked to Iranian Oil Network

Conventional Energy, Latest, Oil, US News / By

The U.S. Department of Justice (DOJ) on Friday announced terrorism and sanctions-evasion charges and seizures linked to a billion-dollar oil trafficking network that it says finances Iran’s elite Islamic Revolutionary Guard Corps (IRGC). “The Department of Justice’s actions are critical to stemming the flow of money that Iran uses to engage in activities that threaten …

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Oil Falls to End the Week as U.S. Jobs Data Dents Hope for Near-Term Rate Cuts

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

Summary U.S. employers added far more jobs in January than expected International Monetary Fund sees China economic growth slowing Whiting refinery power restored after outage NEW YORK, Feb 2 (Reuters) – Oil prices fell by about 2% on Friday and were headed for weekly losses after U.S. jobs data shrank the odds of imminent interest …

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US Drillers Cut Oil and Gas Rigs for First Time in Three Weeks – Baker Hughes

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Feb 2 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes (BKR.O), opens new tab said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, …

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U.S. LNG Export Pause Leaves EU, Industry at Odds Over Energy Security

Conventional Energy, Latest, LNG, US News / By

Europe will have enough gas supply for the next 10 years and thereafter despite a move by the U.S. administration to pause approvals on new liquefied natural gas (LNG) plants, EU energy officials and analysts said, dismissing industry’s warnings. Gas companies – and lobby groups who learned of the move ahead of the decision and …

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INFOGRAPHIC: What Are Fossil Fuel Subsides? – ENERGYminute

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By Cody Good Governments often provide fossil fuel subsidies to, typically, make energy costs more affordable for consumers. These subsidies are of two types: explicit and implicit. Explicit subsidies are direct financial supports, such as tax breaks or price controls, that reduce the cost of fossil fuels to consumers or producers. Implicit subsidies, on the …

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What Lithium’s Roller-Coaster Ride Means for Miners

Electric Vehicles, Energy Topics & Technology, Latest, Minerals, US News / By

Bloomberg Since 2021, lithium prices have surged 10-fold, only to crash back to earth, wiping out billions of dollars in miners’ shares and forcing supply cuts. The ripple effects of this ride are only just beginning. The reversal of fortunes for the electric-vehicle battery metal has been nothing short of stunning. Its rapid ascent to a …

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Exxon Says Investors to Withdraw Climate Proposal from Annual Shareholder Meeting

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(Reuters) – Exxon Mobil Corp said in a court filing on Thursday activist investors were withdrawing a climate proposal the oil giant sought to block from being voted on during a shareholder meeting in May. Exxon filed a complaint in a Texas court earlier this month seeking to prevent activist investment firm Arjuna Capital and …

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Chevron Beats Q4 Estimates, But Annual Profits Fall Nearly 40%

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(Reuters) – Chevron Corp  on Friday beat analysts’ earnings estimates and increased dividends on higher oil and gas production, after a year of sharply lower profits on missteps and charges. Shares in the pre-trading market rose a fraction after the company beat analysts’ consensus forecast by 24 cents with adjusted earnings of $3.45 per share in …

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Exxon Beats Estimates, Ends 2023 With a $36 Billion Profit

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

(Reuters) – Exxon Mobil  on Friday posted a better-than-expected $36 billion profit for 2023, lifted by fuels trading and higher oil and gas production. Oil majors are expected to report 2023 profits down by about a third from record levels in 2022, as oil and gas prices retreated from the peaks that followed Russia’s invasion of …

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Hydrogen Fuel Cells: The Future of Transportation? – ENERGYminute

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By Aaron Foyer Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Fuel cell electric vehicles (FCEVs) are powered by combining hydrogen and oxygen to create electricity. The nascent technology could eventually compete with electric vehicles to replace the internal combustion engine. The science: A catalyst separates hydrogen into protons and electrons, which split …

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