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NextEra Posts Fourth-Quarter Profit Beat Helped by Lower Gas Prices

Latest, Press Releases, US News / By

(Reuters) – NextEra Energy, the largest generator of renewable energy in the United States, reported fourth-quarter profit that beat Wall Street estimates on Thursday, on strength in its regulated utilities business. The power company, which makes most of its electricity from natural gas, benefited from lower natural-gas prices , which fell about 14% in the …

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U.S. Clean Electricity Momentum Stalls Slightly in 2023

Electricity Grid, Energy Topics & Technology, Latest, Renewable Energy, Solar, US News, Wind / By

(Reuters) – Clean electricity generation in the United States hit new highs in 2023 but expanded by its smallest margin in more than a decade, due to below-normal wind speeds and a drop in hydro power output due to drought, data from think tank Ember shows. U.S. clean generation grew by just 0.4% last year, …

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Valero Energy’s Quarterly Profit Falls on Lower Fuel Prices

Energy Topics & Technology, Gasoline, Latest, Refineries, US News / By

Reuters (Reuters) – Valero Energy reported a fall in quarterly profit on Thursday as a slowdown in fuel demand hurt prices, kicking off earnings for U.S. refiners on a dour note. Weaker economic activity and an increase in global refining capacity last year pulled back refining profits from record heights touched in 2022, when disruptions to …

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Big Turnout Expected in New York Offshore Wind Power Auction

Latest, Renewable Energy, Tri-Pinned, US News, Wind / By

(Reuters) – Several offshore wind developers will likely bid in New York’s fourth offshore wind solicitation by the Thursday deadline, including units of European energy firms Orsted, Equinor and BP. The development of the U.S. offshore wind industry took a major blow last year when companies working in several states said they could no longer …

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Commentary: Globally, Oil is Creeping Higher But It’s Not a Healthy Market

Conventional Energy, Latest, Oil, US News / By

Demand growth remains weak, while supply increases continue to surprise. By Julian Lee Oil prices are creeping higher, but it’s probably too early for the bulls to cheer. Brent crude closed above $80 a barrel Monday for the first time this year, a feat it managed again Wednesday. Citigroup Inc. has warned oil may “pop” to $90 if tensions in …

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Biden’s Natural Gas Plan Coming Soon as Industry Mounts Lobbying Blitz

Latest, LNG, Natural Gas, Pinned Primary, US News / By

Changes may derail Venture Global’s CP2 terminal in Louisiana Climate activists pressure White House to curb exports The Biden administration is set to unveil plans within days for intensifying environmental scrutiny of applications to export natural gas, potentially stalling massive planned projects for months, if not longer. The administration’s approach could be announced as soon …

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Kinder Morgan Remains Bullish on Natural Gas Demand Growth

Conventional Energy, Latest, Natural Gas, US News / By

Kinder Morgan said on Wednesday it continues to have a bullish outlook for natural gas demand banking on higher demand from liquefied natural gas (LNG) export facilities and increased exports to Mexico. The United States was the largest exporter of LNG in 2023, with 8.6 million metric tons leaving the country’s terminals in December. The …

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U.S. LNG Feedgas Slow to Return After Arctic Freeze, Problems at Freeport LNG

Conventional Energy, Latest, LNG, US News / By

The amount of natural gas flowing to the seven big U.S. liquefied natural gas (LNG) export plants has fallen by around 6% so far in January from a record high in December due mostly to the slow return of feedgas from last week’s Arctic freeze. Energy analysts also pointed to recent problems at Freeport LNG’s …

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White House Pauses Decision on Louisiana LNG Export Terminal

Conventional Energy, Latest, LNG, US News / By

The Biden administration is delaying a decision on a Louisiana liquefied natural gas (LNG) export project that would be the United States’ largest, but which has raised the ire of environmentalists, the New York Times reported on Wednesday. Venture Global LNG’s Calcasieu Pass 2 (CP2) project is twice the size of the company’s present CP …

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