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Exxon Sees $1.6 Billion Earnings Hit From Oil, Refining Margins

Conventional Energy, Energy Topics & Technology, Latest, Oil, Refineries, US News / By

Exxon Mobil Corp. said lower oil prices and refining margins reduced third-quarter earnings by $1.6 billion compared with the previous period. The oil giant revealed quarterly earnings guidance in a regulatory filing Thursday. The impacts of lower oil prices and shrinking refining margins will be partly mitigated by gains of about $900 million from timing effects and …

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The 2024 Disinflation Lesson: Ignore Oil at Your Peril: McGeever

Conventional Energy, Latest, Oil, US News / By

In today’s digital and services-dominated economy, one might be forgiven for buying into the narrative that oil no longer has any real bearing on inflation. That would be a mistake. Inflation is starting to undershoot some central banks’ targets, in large part because the year-on-year change in the oil price is deeply negative. This is …

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AI Boom Could Spur Large-Scale Investments in Clean Energy

Artificial Inteligence, Energy Topics & Technology, Latest, US News / By

CALGARY — The coming boom in artificial intelligence represents both a threat and an opportunity for the clean energy transition, market experts suggest. No longer purely in the realm of the tech sector, AI has in recent years become an energy industry issue. The expected rapid rollout of the energy-hungry data centres needed to power …

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Russia’s Struggle to Sell Its LNG Is a Double Win for the US

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

Vladimir Putin’s ambition to triple exports by 2030 looks like a stretch, and that bodes well for Washington. Vladimir Putin’s strategy to expand liquefied natural gas exports hinges on finding buyers willing to circumvent US sanctions. So far, that’s proven a challenge. Key to the Russian president’s plans is the vast Arctic LNG 2 plant, which started …

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Enbridge to Build Pipelines to Service BP’s Kaskida Oil Hub

Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Oil, Pipelines, US News / By

Oct 3 (Reuters) – Enbridge  said on Thursday it would build and operate crude oil and natural gas pipelines in the U.S. Gulf of Mexico for the recently sanctioned Kaskida oil hub, operated by BP. The pipelines are expected to be operational by 2029 and would cost $700 million, the Canadian firm said. The crude oil …

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U.S. Funds Four Power Grid Projects With $1.5 Billion

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

(Reuters) – Four electricity transmission projects serving the U.S. southwest, southeast and New England will get $1.5 billion in public funding to improve the grid’s resilience and connect customers with clean energy, the government said on Thursday. The funds for the second phase of the Transmission Facilitation Program come from a 2021 bipartisan infrastructure law …

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Plentiful Oil Supply Dampens Industry Reaction to Growing Middle East Conflict

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil, US News / By

The oil industry and markets have had a muted reaction to growing conflict in the Middle East, a sign of just how well stocked oil supplies are as U.S. output grows and OPEC+ prepares to lift production. The global oil benchmark Brent jumped 5% on Tuesday after Iran, a key producer and member of the …

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U.S. Crude Oil Inventories Rise as Refining Activity Dips, EIA Says

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil, US News / By

 U.S. crude oil inventories rose last week as refinery utilization rates fell amid weakening fuel demand, data from the Energy Information Administration showed on Wednesday. Crude inventories rose by 3.9 million barrels to 417 million barrels in the week ended Sept. 27, the EIA said. Crude stocks at the Cushing, Oklahoma, delivery hub rose by …

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Shale-Production Costs Seen Rising 2.8% in 2025, Enverus Says

Conventional Energy, Energy Topics & Technology, Fracking, Latest, OFS-Oilfield Services, US News / By

Oilfield-service costs for US shale drillers are expected to rebound in 2025, clawing back some of this year’s drop, as explorers expand the hunt for natural gas and extend sideways wells, according to industry consultant Enverus. This year’s reduction in drilling and fracking, combined with the push to max out efficiencies, are seen lowering per-well …

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Diamondback Energy Raises Third-Quarter Production Forecast

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil, US News / By

(Reuters) – U.S. shale producer Diamondback Energy raised its third-quarter production forecast on Tuesday to reflect its $26 billion acquisition of Endeavor Energy. The Texas-based company completed its acquisition of Endeavor Energy last month, making it the third-largest oil and gas producer in the top U.S. shale region, the Permian Basin, putting it just behind industry giants Exxon …

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