US News - Today in Oil and Gas

Marathon Petroleum’s Q3 Profit Beats, Boosts Share Buybacks by $5 Billion

By Arunima Kumar and Nicole Jao Nov 5 (Reuters) – Oil refiner Marathon Petroleum (MPC.N) reported its third-quarter earnings on Tuesday, beating Wall Street estimates on better-than-expected throughput and utilization rates even as global refining margins decline. The Findlay, Ohio-based company announced an additional $5 billion share repurchase program, and now has $8.5 billion available …

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Oil and Gas Producers Cut US Gulf of Mexico Output Ahead of Storm

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Nov 5 (Reuters) – Oil and gas producers began shutting in U.S. Gulf of Mexico output and pulling workers off platforms on Tuesday ahead of a late hurricane season storm threatening offshore fields. The U.S. National Hurricane Center warned of steady to rapid intensification over the next 24 to 36 hours, with Tropical Storm Rafael …

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US Natural Gas Prices Drop 4% on Mild Forecasts

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

(Reuters) – U.S. natural gas futures fell about 4% on Tuesday on forecasts for mild weather to continue through late-November, keeping heating demand lower than usual for this time of year and allowing utilities to add more gas into storage for at least a couple more weeks. Analysts projected utilities injected more gas than normal …

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As America Votes, an Anxious World Makes Plans

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Bloomberg America may be looking a little frail of late, with polarization at home and multiplying challenges to its authority from allies and foes alike. There’s still a lot riding on the outcome of the US presidential election for the world, not just in terms of political relations and the balance of trade, but in existential matters …

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Can the No. 1 Oil Producer Lead the Way on Climate? The U.S. Is Trying It

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

The latest in American exceptionalism is exporting 50% more oil than Saudi Arabia while trying to prod the world towards net zero. Bloomberg It sounded like the top American climate diplomat really meant it: “We are moving away from fossil fuels,” said John Kerry, in one of his last acts as the US negotiator at the close …

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US Crude Oil Pipeline Squeeze Boosts Prices at Gulf Coast Export Hub

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

(Reuters) – The difference in prices for U.S. shale oil in West Texas and at Houston has widened in the last two months on dwindling pipeline space to move the crude to the export hub on the Gulf Coast, pricing data showed. Record crude production at the top U.S. oilfield in the Permian basin that …

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Dollar Drops as Some U.S. Polls Shift Toward Harris: Markets Wrap

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Treasuries, Mexican peso rise as traders adjust wagers Oil rise as OPEC+ delays output hike, Iran steps up rhetoric The dollar dropped and US Treasuries rallied as investors walked back bets on Donald Trump winning the presidential election after weekend polls indicated Kamala Harris was gaining ground. An index of the greenback dropped the most in six weeks. Ten-year Treasury yields fell 10 …

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Michigan winter temperatures expected to drive up energy use

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Michigan winter temperatures expected to drive up energy use DTE Energy is connecting its customers to resources and information to help them manage use and keep bills affordable DETROIT, Nov. 01, 2024 (GLOBE NEWSWIRE) — Forecasts for the coming winter suggest temperatures may not dip as low as in recent years, but energy use is …

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A Huge “Cat and Mouse” Game: Chinese Solar Firms Go Where U.S. Tariffs Don’t Reach

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

Summary Chinese solar firms build new plants in Indonesia and Laos U.S. has expanded tariffs on other Southeast Asian nations In Vietnam, Chinese solar companies cut output, lay off workers (Reuters) – Some of the biggest Chinese-owned solar factories in Vietnam are cutting production and laying off workers, spurred on by the expansion of U.S. …

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Climate Skeptics Are Hatching Big Plans for a Second Trump Term

Coal, Conventional Energy, Latest, Natural Gas, Oil, US News / By mark

Activists would push a new Republican administration to boost coal-fired power, block EPA science and challenge models of global warming. Activists who dispute the severity of human-caused climate change are quietly preparing to seize their moment should Donald Trump win a second term. Pushed to the political fringes during Joe Biden’s presidency, they are now laying the groundwork …

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