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A drop in crude oil prices has put the U.S. back in the market for replenishing the Strategic Petroleum Reserve after selling off a record amount of crude from the stockpile in 2022. A little more than a month ago the Department of Energy canceled the purchase of about 3 million barrels of oil for …
Lower Oil Puts U.S. in Market to Buy for Strategic Petroleum Reserve, For Now Read More »
Nearly 75 U.S. lawmakers from President Joe Biden’s Democratic party on Tuesday praised his pause on approvals of exports of liquefied natural gas, or LNG, saying it would protect Americans from pollution and potential higher prices. Senators Jeffrey Merkley, Edward Markey and Representative Jared Huffman spearheaded a letter to Biden saying the pause allows the …
Nearly 75 Democratic Lawmakers Support Biden’s LNG Pause Read More »
A group of Congressional catastrophists is threatening the fossil fuel industry for “extensive efforts” in its communications to “undermine efforts to curb GHG emissions.” By Alex Epstein A group of Congressional catastrophists is threatening the fossil fuel industry for “extensive efforts” in its communications to “undermine efforts to curb greenhouse gas emissions.” But the industry …
Markets were supposed to be flooded with LNG by 2025, but hiccups at new projects might postpone their start. A wave of new liquefied natural gas projects that was supposed to flood the global market from next year now looks like it might not eventuate until at least 2026. The main reason is that the …
Kimmeridge Energy Management Co. plans to continue to invest in the US liquefied natural gas export industry, even though new permitting is on hold while the Biden administration scrutinizes the sector. The company expects to make additional investments in the proposed Commonwealth LNG project in Louisiana, according to Ben Dell, Kimmeridge’s co-founder and managing partner. Kimmeridge is …
Kimmeridge Plans to Invest More in U.S. LNG Despite Biden’s Pause Read More »
Payouts from the world’s biggest international oil companies hit a record US$114 billion last year Bloomberg News BP PLC maintained the pace of its share buybacks even as first-quarter profit and cash flow fell by more than expected and net debt increased. The result marks the end of a mixed set of Big Oil earnings which saw Shell PLC, TotalEnergies SE and Chevron …
BP Ends Big Oil Earnings with Maintained Share Buybacks Read More »
Top executives at U.S. oil giants Exxon Mobil and Chevron Corp said on Monday that the U.S. needs to clarify rules on energy subsidies to drive the rapid, large-scale investments needed to fight climate change. President Joe Biden has been trying to encourage energy producers to slash emissions using technologies like carbon capture and green hydrogen that are expensive …
Exxon, Chevron CEOs Seek Clear Rules on U..S Clean Energy Subsidies Read More »
(Reuters) – Duke Energy beat Wall Street estimates for first-quarter profit on Tuesday, as the utility benefited from higher rates and robust demand for electricity. Income from Duke’s electric utilities segment jumped 29% to $1.02 billion. “We have a clear path forward that will deliver sustainable value and 5% to 7% earnings growth over the next …
Duke Energy Beats First-Quarter Profit Estimates on Higher Rates Read More »
U.S. natural gas futures gained about 3% to a 14-week high on Monday on forecasts for higher demand over the next two weeks than previously expected as feedgas to liquefied natural gas (LNG) export plants increased with the return of Freeport LNG in Texas. Prices were also supported by an ongoing decline in output. Front-month …
US Natgas Prices up 3% to 14-Week High on Rising Demand for LNG Feedgas Read More »
The U.S. has sufficient supply of oil in the Strategic Petroleum Reserve to address any supply concerns and is monitoring markets on how to use it, Amos Hochstein, President Joe Biden’s energy adviser, said on Monday. The SPR is still near 40-year lows after Biden directed the largest ever sale of 180 million barrels from …
