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COMMENTARY: Shell Will be Tempted to Join U.S. M&A Party

Latest, Mergers and Acquisitions, US News / By

(Reuters Breakingviews) – Wael Sawan is sitting on the sidelines. The chief executive of $214 billion European oil major Shell  has watched Exxon Mobil and Chevron undertake chunky deals in the Permian, one of the world’s most profitable and fast-growing oilfields. In 2024 he could let his U.S. rivals get bigger, or he could amp up his pivot away from renewable energy and …

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Microsoft, Qcells Strike Massive Supply Deal for US-Made Solar Panels

Latest, Solar, US News / By

Reuters) – South Korea’s Qcells on Monday said it will supply Microsoft (MSFT.O) with 12 gigawatts of American-made solar panels through 2032 in what the companies called one of the largest ever deals of its kind. The agreement locks in substantial and stable demand for panels Qcells will make at its new $2.5 billion Georgia factory. For Microsoft, …

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Tax Officials Are Making Your Energy More Costly

Latest, Renewable Energy, Solar, US News, Wind / By

Governments have established an elaborate network of restrictions around clean technology, while fossil fuels remain largely exempt. By David Fickling David Fickling is a Bloomberg Opinion columnist covering energy and commodities. Previously, he worked for Bloomberg News, the Wall Street Journal and the Financial Times. After the most sustained bout of inflation in a generation, you’d think …

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Permian’s Private Shale Explorers Expect Modest Growth

Conventional Energy, Latest, Oil, Shale, US News / By

Survey finds closely held group planning less than 5% increase Explorers say they need crude to be above $70 to make a profit By David Wethe – Bloomberg Most of shale’s private explorers in the Permian are planning modest growth this year as one of the main engines of US oil expansion downshifts amid volatile commodity …

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Oil Prices Settle Higher on Middle East Tensions

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

Summary U.S. Secretary of State Blinken visits Middle East U.S. employment data shows increased hiring and wages Rig count declines for third time in four weeks Maersk diverts vessels from Red Sea for foreseeable future (Reuters) – Oil prices settled higher on Friday as U.S. Secretary of State Antony Blinken began a week-long sweep through …

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U.S. Approves $189 Million Loan for Real-Time Methane Monitoring

Latest, Methane, US News / By

The Department of Energy’s loan office on Friday conditionally approved a $189 million loan to support the build-out of a methane monitoring network in key oil-producing basins that would provide real-time data for tens of thousands of oil and gas sites, which it estimates could prevent the equivalent of at least 6 millions tons of …

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Southwestern and Chesapeake Energy Near $17-Billion Merger

Conventional Energy, Latest, Mergers and Acquisitions, Natural Gas, US News / By

Southwestern Energy and Chesapeake Energy are close to a merger that would create a roughly $17-billion company that would rank as one of the largest U.S. natural-gas producers, the Wall Street Journal reported on Friday. The deal could come together as soon as next week, the report said, citing people familiar with the matter, provided …

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Exxon Mobil to Take $2.5 Billion Writedown on California Assets

Conventional Energy, Latest, Oil, US News / By

Oil giant cites California’s regulatory environment for charge Chevron also writing down value of some Golden State assets By Kevin Crowley Exxon Mobil Corp. warned investors of a $2.5 billion write down of the value of some California operations. The impairment to be recorded in fourth-quarter earnings is “primarily” related to its Santa Ynez operations off the …

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