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CenterPoint Energy Sees up to $1.3 Bln in Restoration Costs After Hurricane Beryl

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

(Reuters) – Electric and gas utility CenterPoint Energy (CNP.N) said on Tuesday it expects total costs to restore facilities damaged by Hurricane Beryl to be in the range of $1.2 billion to $1.3 billion. Earlier this month, Hurricane Beryl made landfall near the coastal town of Matagorda, Texas, causing significant damage to CenterPoint electric subsidiary’s delivery system. Nearly …

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Oil Steadies Near Lowest Since Early June as China Concerns Weigh

Latest, Oil, Tri-Pinned, US News / By

Summary China’s leaders vow to boost policy support for economy US crude, fuel stockpiles expected lower in latest report OPEC+ panel meets on Thursday, no policy tweaks expected (Reuters) – Oil steadied on Tuesday near its lowest levels since early June as worries about demand in China were balanced by a government pledge of policy …

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Middle East Oil Gives U.S. Drillers an Opportunity for Growth

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

Helmerich & Payne’s planned takeover may be a sign of things to come. US shale drilling activity appears to have peaked. The number of operating onshore oil rigs is the lowest since 2021, a result of industry consolidation and tighter spending as companies return more profits to shareholders. That presents a challenge for the country’s oil-field contractors. …

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Almost 20% of Americans Face Prospect of Higher Electric Bills

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

PJM set to release pricing details for securing power supply Baltimore, Virginia are poised to earn premiums in auction More than 65 million Americans are facing the prospect of significantly higher electricity prices next year, thanks to shrinking energy supply and rising demand on the biggest US electric grid. An increase for the year starting …

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U.S. Natgas Prices Ease to Fresh 12-Week Low on Rising Output

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

U.S. natural gas futures eased about 1% on Monday to a fresh 12-week low as producers keep pulling more gas out of the ground. That small price decline came despite forecasts of record-breaking heat later this week, that could boost the amount of gas power generators burn to an all-time high. At the same time, …

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U.S. Buys 4.65 Million Barrels for Emergency Oil Stockpile

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

The U.S. Department of Energy said on Monday it had finalized a contract to purchase 4.65 million barrels of crude oil for the Strategic Petroleum Reserve, for delivery to the Bayou Choctaw site in Louisiana during the last three months of the year. Exxon Mobil will supply 3.9 million barrels of the contract, while Macquarie Commodities …

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Oil Prices Rise on Fears of Wider Middle East Conflict After Rocket Strike in Golan Heights

CDN and International News, Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

(Reuters) – Oil prices rose on Monday, paring last week’s loss, on fears of a widening conflict in the Middle East following a rocket strike in the Israeli-occupied Golan Heights, which Israel and the United States blamed on Lebanese armed group Hezbollah. Brent crude futures gained 20 cents, or 0.3%, to $81.33 a barrel at 0010 …

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Vital Energy, Northern Oil and Gas Buy Point Energy Shale Assets for $1.1 Billion

Energy Topics & Technology, Latest, Mergers and Acquisitions, Shale, Tri-Pinned, US News / By

(Reuters) – Vital Energy and Northern Oil and Gas  will jointly acquire U.S. shale assets from private equity-owned Point Energy Partners for $1.1 billion, the companies said on Sunday. Vital will buy an 80% stake in the Point Energy assets, located in the Delaware patch of the Permian Basin, the heart of the U.S. shale industry that …

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A New Wave of Electric Vehicles Are Ready to Charge at 70 MPH

Electric Vehicles, Energy Topics & Technology, Latest, US News / By

Stellantis and Mazda are among the automakers offering an antidote to range anxiety: onboard generators (the gas kind). Despite a parade of electric vehicles that can travel more than 300 miles on a charge, range anxiety remains a major hurdle to widespread adoption particularly in the US. There is, however, a “no-duh” antidote to allay fears of …

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