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Summary Brent futures fall by $1.36/bbl, WTI drops $1.51 Benchmarks broadly unchanged on the week after volatile trade Data from China showed economy losing momentum, weak oil demand Gaza ceasefire talks paused, set to resume next week (Reuters) – Oil prices settled down nearly 2% on Friday, little changed on the week with Brent crude …
Oil Falls 2% to End Volatile Week, Focus on China Demand Concerns Read More »
U.S. energy firms this week cuts oil and natural gas rigs for the second time in three 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 two to 586 in the week to Aug. 16. Baker …
U.S. Drillers Cut Oil and Gas Rigs for Second Time in Three Weeks – Baker Hughes Read More »
North Dakota’s oil production fell by 22,500 barrels per day (bpd) in June to an estimated 1.176 million bpd, the state’s Pipeline Authority said on Thursday, marking a second straight monthly decline. Production in the third top oil-producing U.S. state has slipped since climbing to 1.29 million bpd last September, according to figures from its …
North Dakota Oil Production Falls for Second Straight Month in June Read More »
CALGARY — TC Energy Corp. says it and its partner have successfully completed the sale of Portland Natural Gas Transmission System. Earlier this year, the companies announced they were selling the U.S. pipeline for US$1.14 billion to a BlackRock fund and investment funds managed by Morgan Stanley Infrastructure Partners. The partner, Northern New England Investment …
TC Energy Completes Sale of Portland Natural Gas Transmission System Read More »
Summary Q2 EBITDA up 59%, beats expectations Books impairments of U.S. project delay Keeps full-year profit forecast, says will lower investments Shares down nearly 8% COPENHAGEN, Aug 15 (Reuters) – Renewable energy group Orsted booked 3.9 billion Danish crowns ($575 million) in impairment losses in the second quarter, due partly to a delay in construction …
Orsted Books New Impairment Losses, Flags Delay at U.S. Offshore Wind Project Read More »
Texas adds UK lender NatWest to Energy ‘Boycott’ List Over Financing Restrictions Aug 14 (Reuters) – Texas has added Britain’s NatWest to a list of firms that “boycott” energy companies, potentially restricting the bank’s business with public agencies, the comptroller said on Wednesday. NatWest was added to the list because of limits it has added on …
(Reuters) – Chevron Corp is to pay Richmond City Council $550 million over 10 years, the city said in a statement, in a settlement that saw it drop a proposed ballot on a new tax on the oil major’s Richmond refinery. Chevron did not immediately respond to a Reuters’ request for comment. Richmond planned to seek …
Chevron to Pay $550 Million Settlement to Richmond, California Read More »
(Reuters) – Oil prices ticked up on Thursday as optimism built that potential U.S. interest rate cuts will boost economic activity and fuel consumption, but concerns over slower global demand curbed gains. Brent crude futures were up 51 cents, or 0.6%, at $80.27 a barrel at 1107 GMT, recovering some of the previous day’s losses. …
Oil Prices Edge Up as Demand Concerns Duel With Rate Cut Optimism Read More »
(Reuters) -U.S. natural gas futures rose more than 4% on Wednesday, supported by a drop in output and forecasts of hotter weather for the second half of August that could boost cooling demand and increase gas consumption by power generators to meet air conditioning needs. Front-month gas futures NGc1 for September delivery on the New York Mercantile …
US Natgas Rises More Than 4% on Hotter Weather Forecasts, Lower Output Read More »
(Reuters) The private equity owner of Maverick Natural Resources is exploring a potential sale that could value the U.S. oil and gas producer at nearly $3 billion, including debt, according to people familiar with the matter. The Houston-based exploration and production company, which is owned by energy-focused investment firm EIG, is working with investment bankers …
Energy Producer Maverick’s Owner Explores Sale Valuing it at $3 Billion, Sources Say Read More »
