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Share auction to pay for expropriations and defaults stalled Creditors in Texas, New York courts seek to ‘jump’ priority HOUSTON, Oct 15 (Reuters) – ConocoPhillips (COP.N) has filed a court motion to preserve the U.S. oil producer’s almost top priority among Citgo Petroleum creditors to cash proceeds from an auction of shares in the parent …
ConocoPhillips Seeks to Keep Priority as Creditor in Citgo Auction Read More »
Fossil fuels have created unprecedented safety from extreme weather—and the recent hurricanes would’ve been far worse without them By Alex Epstein Myth: Hurricanes Helene and Milton show that we’re experiencing unprecedented danger from extreme weather thanks to fossil fuels. Truth: Fossil fuels have made us much safer from extreme weather—and the recent hurricanes would’ve been far …
Berkshire Hathaway Energy’s 0.8-bcfd Cove Point LNG export plant in Lusby, Maryland, returned to production on Saturday, three weeks after it shut down for annual maintenance, according to data from financial firm LSEG. The plant is one of the smallest U.S. LNG export facilities, but with low gas prices since March this year, any loss …
Cove Point LNG in Maryland Returns to Production Read More »
U.S. natural gas futures held near a three-week low on Tuesday on expectations mild weather over the next two weeks will keep demand low. Front-month gas futures for November delivery on the New York Mercantile Exchange remained unchanged at $2.490 per million British thermal units (mmBtu) at 8:11 a.m. EDT (1211 GMT). On Monday, the …
US Natgas Prices Hold Near 3-Week Low on Mild Weather Forecasts Read More »
Nabors Industries on Tuesday agreed to buy drilling services provider Parker Wellbore as the oilfield services company aims to expand its global drilling business. The company would acquire Parker Wellbore for 4.8 million shares of Nabors’ common stock, subject to a share price collar, and the assumption of net debt of about $100 million. As …
Oilfield Services Firm Nabors Industries to Buy Parker Wellbore Read More »
Alphabet Inc.’s Google is investing in the development of the next generation of nuclear power, backing a company that’s building small modular reactors and agreeing to purchase energy once the sites start supplying US grids. Google signed an agreement with Kairos Power to construct a series of so-called SMRs that use molten-salt cooling technology. The move …
Google Backs Buildout of Small Nuclear Reactors in Kairos Deal Read More »
Summary IEA cuts 2024 demand growth forecast by 40,000 bpd Projection for 2025 raised by 50,000 bpd Oil drops as Iran supply disruption concerns ease (Reuters) – The world oil market is heading for a sizeable surplus in the new year, the International Energy Agency said on Tuesday as it reassured markets that the agency …
IEA Sees Oil Surplus Looming, Reassures on Iran Supply Risk Read More »
(Reuters) – Citi Research on Monday raised its bull case scenario for oil prices for this quarter and the next one, citing heightened potential of the market to fear or realize supply losses during these months due to growing Middle East conflict. The bank upgraded its bull case for the fourth quarter of 2024 and …
Middle East Supply Disruption Potential Could Send Oil above $100/bbl, Citi Says Read More »
Summary Brent, WTI down 4% Israeli PM Netanyahu says willing not to strike Iran oil targets OPEC, IAE cut global oil demand growth outlook (Reuters) – Oil prices tumbled more than 4% to a near two-week low on Tuesday due to a weaker demand outlook and after a media report said Israel is willing to not strike …
Oil Plunges as Iran Supply Disruption Concerns Ease, Demand Outlook Weakens Read More »
Accident at Deer Park refinery left at least two workers dead and another 35 people injured. A fatal accident last week at a Houston-area refinery was another reminder of the risks posed by the oil industry that dominates much of the city. The vast Deer Park facility, owned by Mexico’s state-owned oil company Petroleos Mexicanos, …
Deadly Houston Fire Highlights Pemex’s Grim Safety Record Read More »
