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Honeywell to Buy Air Products’ LNG business for $1.81 Billion

Energy Topics & Technology, Latest, Mergers and Acquisitions, US News / By

By Reuters (Reuters) – Industrial giant Honeywell  said on Wednesday it would buy Air Products’ liquefied natural-gas process technology and equipment business for $1.81 billion in cash. The deal would help Honeywell add LNG technologies such as heat exchangers and cryogenic equipment to its portfolio and marks the industrial conglomerate’s fourth acquisition this year. Since taking charge …

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Most of Houston Loses Power as Hurricane Beryl Delivers Latest Blow

Latest, Tri-Pinned, US News / By

Storm left 85% of city without power, including mayor’s house Residents told to stay home after three deaths are reported Bloomberg The majority of Houston remained without power in Tropical Storm Beryl’s wake, and authorities warned the blackout could last days even as heat builds across the battered region. Beryl left the nation’s fourth-largest city …

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Record U.S. Summer Heat, Hurricanes Could Roil Fuel Prices as Oil Refiners Sweat

Conventional Energy, Energy Topics & Technology, Latest, Oil, Refineries, Tri-Pinned, US News / By

(Reuters) – A double whammy of record heat and hurricanes should test U.S. refiners’ resilience in coming weeks, raising the risk of extremely volatile fuel prices in the middle of the peak travel season, analysts said. The Atlantic hurricane season from June through November is an annual threat for U.S. refineries. Half of the country’s …

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Oil Prices Little Changed, Concerns About Damage From Hurricane Ease

Conventional Energy, Latest, Oil, Pinned Primary, US News / By

(Reuters) – Oil prices were little changed early on Tuesday after a hurricane that hit a key U.S. oil producing hub in Texas caused less damage than expected. Brent futures fell 4 cents to $85.71 a barrel by 0113 GMT, while U.S. West Texas Intermediate (WTI) crude fell 5 cents to $82.28. Although oil refining …

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Texas Energy Industry Assesses Damage After Hurricane Beryl Batters Gulf Coast

Conventional Energy, Latest, Natural Gas, Oil, Pinned Primary, US News / By

(Reuters) – The Texas energy industry was evaluating the impact from Hurricane Beryl on Monday after the powerful storm lashed the U.S. Gulf Coast, closing key shipping ports and hitting the oil refining and production sectors. Beryl made landfall near the coastal town of Matagorda, Texas, on Monday morning, packing maximum sustained winds of 80 …

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Exxon Signals Q2 Below Market Consensus, Excluding Pioneer Buy

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil, Tri-Pinned, US News / By

(Reuters) – Exxon Mobil Corp on Monday signaled that lower refining margins across the industry and lower natural gas prices will reduce profits in the second quarter. A snapshot of operating factors affecting the quarter suggests earnings per share between $1.50 and $2.40, or about $8.3 billion, which is 17% below market consensus. The preview excludes …

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Judge Who Voided Elon Musk’s Pay to Rule on US$7B in Legal Fees

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

The lawyers who challenged the pay plan argue that their unusual request to be compensated in stock rather than cash benefits Tesla Bloomberg News The judge who voided Elon Musk’s record-setting Tesla Inc. pay package must now make another momentous decision — whether the lawyers who took the case to trial should be paid what may be the …

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Texas Freeport LNG Natgas Flows Fall to Near Zero Ahead of Hurricane Beryl

Conventional Energy, Latest, LNG, US News / By

The amount of natural gas flowing to Freeport LNG’s export plant in Texas fell close to zero on Sunday as Hurricane Beryl roared towards the Texas coast, with the amounts to remain near zero on Monday, according to data from financial firm LSEG. “We have safely ramped down production at our liquefaction facility and intend …

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Hedge Funds Buy Commodity Stocks at Fastest Pace in Five Months, Says Goldman

Conventional Energy, Latest, Oil, US News / By

Hedge funds bought commodity sensitive stocks in the week to July 5 at the fastest pace in five months, said a Goldman Sachs note to clients seen by Reuters on Monday. Energy stocks fell last week as Tropical Storm Beryl battered the Caribbean. Chevron Corp, Exxon Mobil and Shell all declined between about 0.5% and just over 1.5% over the …

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U.S. Oil Refiners’ Weekly Capacity Seen Down 151,000 Bpd, IIR Says

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

U.S. oil refiners are expected to have about 260,000 barrels per day (bpd) of capacity offline in the week ending July 12, decreasing available refining capacity by 151,000 bpd, research company IIR Energy said on Monday. Offline capacity is expected to remain unchanged at 260,000 bpd in the week ending July 19, IIR added. The …

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