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(Reuters) – An Exxon Mobil arbitration case that could block the sale of Hess Corp to Chevron could drag on until year-end, Hess said in a U.S. securities filing on Friday. The filing signals any closing of its $53 billion sale to Chevron could fall into next year, at least six months later than a prior goal of …
Hess Signals Exxon Arbitration Could Push a Sale into Next Year Read More »
(Reuters) – A major battery plant near Los Angeles will be among the largest in the world when it comes online later this year, promising to shore up California’s power grid during the peak summer season and help the state a meet ambitious climate goals. Calpine’s billion-dollar Nova Power Bank, built on the site of …
California Battery Plant is Among World’s Largest as Power Storage Booms Read More »
(Reuters) – President Joe Biden’s administration on Friday finalized a range of reforms designed to boost returns and address environmental harms from oil and gas drilling on public lands. The new rules follow years of criticism from green and taxpayer groups that federal oil and gas development was not benefiting the public. Many of the …
U.S. Finalizes Big Reforms to Federal Oil and Gas Drilling Read More »
(Reuters) – The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth on Friday, citing lower than expected consumption in OECD countries and a slump in factory activity. The Paris-based energy watchdog lowered its growth outlook for this year by 130,000 barrels per day (bpd) to 1.2 million bpd, adding that the …
IEA Trims Oil Demand Forecast on Weakness in Wealthier Countries Read More »
(Reuters) – The Biden administration on Thursday said the U.S. had surpassed a goal of permitting more than 25 gigawatts of clean energy projects on public lands by 2025 and finalized a plan to slash project fees for wind and solar energy on federal acreage. WHY IT’S IMPORTANT The announcement marks the latest effort by …
U.S. Surpasses Renewable Energy Goal for Public Lands Read More »
Summary Crude near six-month high Concern of fewer U.S. rate cuts weighs Market pares gains after IEA cuts 2024 demand growth view LONDON, April 12 (Reuters) – Oil rose over 1% on Friday as heightened tensions in the Middle East raised the risk of supply disruptions from the oil-producing region, though the market is set …
Oil Rebounds on Mideast Tensions but Set for Weekly Loss Read More »
Half of National Petroleum Reserve-Alaska could be off-limits Companies say plan would violate leases, kill investment The US set aside 23 million acres of Alaska’s North Slope to serve as an emergency oil supply a century ago. Now, President Joe Biden is moving to block oil and gas development across roughly half of it. The initiative, set …
Biden Election Energy Politics: Biden Plans Sweeping Effort to Block Arctic Oil Drilling Read More »
Half of National Petroleum Reserve-Alaska could be off-limits Companies say plan would violate leases, kill investment The US set aside 23 million acres of Alaska’s North Slope to serve as an emergency oil supply a century ago. Now, President Joe Biden is moving to block oil and gas development across roughly half of it. The initiative, set …
Energy Politics: Biden Plans Sweeping Effort to Block Arctic Oil Drilling Read More »
Portfolio investors have amassed one of the largest bullish positions in U.S. gasoline futures and options since before the coronavirus pandemic, anticipating that prices will continue climbing over the next few months. U.S. gasoline has emerged as the most attractive part of the petroleum complex for investors betting prices will rise further this year in …
Investors Bet on Further Rise in U.S. Gasoline Prices: John Kemp Read More »
WASHINGTON (AP) — In a move that environmentalists called a betrayal, the Biden administration has approved construction of a deepwater oil export terminal off the Texas coast that would be the largest of its kind in the United States. The Sea Port Oil Terminal being developed off Freeport, Texas, will be able to load two …
