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Exxon Mobil and Chevron’s tug-of-war over a $1 trillion deposit is part of the industry’s shifting climate strategy. The battle between Chevron Corp. and Exxon Mobil Corp. over Guyana’s $1 trillion oil field took another twist last week, when arbitrators said they would need nearly a year to settle the dispute. Chevron’s stock plunged as the news meant its …
Guyana Fight Shows Big Oil’s Need for Cheap Crude Read More »
By Reuters (Reuters) – Australia’s Woodside Energy said on Monday it will acquire OCI Global’s clean ammonia project in Texas for $2.35 billion as the energy firm advances its transition towards green energy. The acquisition, which will provide Woodside with an early-mover advantage in the lower carbon ammonia market, comes as demand is expected to grow, with firms …
Australia’s Woodside Energy to Buy Texas Ammonia Project for $2.35 Bln Read More »
Summary Demand concerns rise after weak US payrolls report Risk of wider Middle East conflict limits oil’s decline London, Aug 5 (Reuters) – Oil futures extended losses in a volatile session on Monday as fears of a recession in top oil consumer the United States offset supply worries stemming from mounting tensions in the Middle …
Oil Prices Drop as U.S. Recession Fears Spark Broader Selloff Read More »
Surprisingly weak U.S. employment data on Friday stoked fears of a recession ahead, prompting investors to dump stocks and turn to safe-haven bonds. Treasury prices surged, sending yields to multi-month lows. Elsewhere in commodities, oil prices fell $2 a barrel. The dollar index hit its lowest since March. Richly-valued technology firms bore much of the …
U.S. Jobs Data Fuels Stock Selloff, Hits Oil Price – Investors Turn to Safe-Haven Bonds Read More »
By Reuters Private equity firm Quantum Capital Group will buy U.S. independent power producer Cogentrix Energy for about $3 billion from funds managed by the Carlyle Group, the companies said on Monday. Utilities are attracting increased investor interest as technological innovations, including artificial intelligence and data centers, bolster power demand. In May, investment firms …
Quantum Capital to Buy Cogentrix for $3 Bln in Bets on Rising U.S. Power Demand Read More »
By Robert Cyran NEW YORK, Aug 2 (Reuters Breakingviews) – Exxon Mobil is barging ahead of rival Chevron. Second-quarter figures reported on Friday showed the $520 billion oil giant churned out $9.2 billion of profit, thanks to the benefits of its $60 billion deal for Pioneer Natural Resources and record production in oil fields in Texas and offshore South …
(Reuters) – Hawaiian’s largest utility said on Friday it had agreed to pay roughly half of a more than $4 billion legal settlement that will compensate victims of last year’s deadly Maui wildfires. Blazes tore through Maui on Aug. 8 2023, killing over 100 people, destroying the historic coastal town of Lahaina and causing damage …
Hawaiian Electric Agrees to Pay About Half of $4 Billion Maui Wildfire Settlement Read More »
By Sabrina Valle and Mrinalika Roy Aug 2 (Reuters) – Chevron Corp (CVX.N) on Friday posted sharply weaker second-quarter earnings and the oil major’s CEO discounted the chance to close a $53 billion acquisition of Hess Corp (HES.N) before mid-2025, sending shares down 3%. Shares were off 9% since Wednesday following company statements saying a …
Chevron Earnings Slide, Hess Merger Arbitration Drags On Read More »
By Marianna Parraga, Gary Mcwilliams and David French Citgo ownership on the line with court-auction of shares Bids not close to $21.3 billion in claims against Venezuela (Reuters) – An oil refiner backed by activist investor Carl Icahn and a group of creditors holding claims against Venezuela are competing in the last mile of a …
Citgo Auction Pits Icahn-Backed Oil Refiner, Creditor Group Read More »
Easy-to-remember points on the benefits of fossil fuels Today, I’ll share Energy Sound Bites to support the second core truth: Only by using fossil fuels can 8 billion people have the energy they need to survive and flourish. As a reminder, the goal of Energy Sound Bites is to distill key facts and insights about energy, …
COMMENTARY: Energy Sound Bites on Fossil Fuels – Alex Epstein Read More »
