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Venture Global to Pitch $110 Bln Valuation to IPO Investors Next Week, Source Says

 Venture Global LNG will begin formally pitching investors next week for its highly anticipated initial public offering, with the second-largest U.S. producer of liquefied natural gas aiming to secure a non-diluted valuation of as much as $110 billion, a document seen by Reuters and a person familiar with the matter said on Saturday. It could …

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Enbridge Preps Pipeline Buildout for Trump-Driven Drilling Boom

Pipeline CEO plans ahead for imminent change in US leadership Company ships almost 6 million barrels of crude, liquids daily Enbridge Inc. is devising plans to rapidly boost capacity on its US oil pipeline system if the incoming Trump administration succeeds in kicking off a drilling boom. The company sees an opportunity to move “several hundred …

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Oil Prices Rally 3% as US Hits Russian Oil With Tougher Sanctions

Summary • Brent crude and WTI futures rise over 3% to 3-month high • US announces harshest package of sanctions against Russian oil • Sanctions will hit Russian oil exports – UBS, traders • Extreme cold in US, Europe also boosting oil prices – StoneX New York, Jan 10 (Reuters) – Oil prices rallied nearly …

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US to Release Clean Fuel Tax Credit Model That Limits Ethanol Producers’ Credit Access, Sources Say

By Jarrett Renshaw and Stephanie Kelly (Reuters) – The U.S. is expected to release by next week a climate model for clean fuel tax credits that will sharply reduce the ability of ethanol producers to access subsidies for production of sustainable aviation fuel, three sources familiar with the matter told Reuters. The exclusion of climate-smart …

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

(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in six weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by 5 to 584 in …

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Biden Hits Russian Oil in Toughest Sanctions Yet in Bid to Give Ukraine, Trump Leverage

(Reuters) – The Biden administration on Friday imposed its broadest package of sanctions yet targeting Russia’s oil and gas revenues in an attempt to give Kyiv and the incoming administration of Donald Trump leverage to reach a deal for peace in Ukraine. The move is meant to cut Russia’s oil revenues for the war that …

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White House Says Domestic Oil Market Resilience Played into Russia Sanctions Timing

(Reuters) – The current resilience of the U.S. oil market was key to the White House’s decision to impose significant sanctions on Russia’s energy sector on Friday, a spokesperson for the Biden administration said. The strength of the domestic oil market allowed the administration to change its tactic in trying to hobble Russia’s economy in …

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US NatGas Prices Climb 4% to One-Week High on Colder Forecasts, Record LNG FeedGas

(Reuters) – U.S. natural gas futures climbed about 4% to a one-week high on Friday on forecasts for colder weather and higher heating demand over the next two weeks than previously expected and record flows of gas to liquefied natural gas (LNG) export plants. That price increase came despite signs that the amount of gas …

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TotalEnergies to Pay $5 Million to Settle U.S. FERC Natgas Manipulation Sase

 A unit of French energy company TotalEnergies agreed to pay $5 million to settle claims by U.S. energy regulators that it and some of its traders allegedly manipulated the natural gas market in 2009-2012. The settlement is much smaller than the $214 million the U.S. Federal Energy Regulatory Commission had sought from TotalEnergies’ Total Energies …

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