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Diamondback Sells $5.5 Billion of Bonds for Endeavor Deal

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

The five-part offering includes a $1 billion, 40-year tranche M&A-related financing is helping fuel record high-grade sales Diamondback Energy Inc. borrowed $5.5 billion in the US investment-grade market to partly help fund its $26 billion takeover of Endeavor Energy Resources LP, joining other blue-chip companies capitalizing on robust investor demand to bring acquisition-related debt deals. Diamondback sold the bonds …

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Jamie Dimon Calls Biden’s Push to Stop Oil and Gas Projects “Wrong” and ‘Enormously Naïve’

Conventional Energy, Latest, LNG, Oil, US News / By

Criticizes White House freeze on LNG approvals in annual letter to shareholders Bloomberg News Jamie Dimon said U.S. delays of liquefied natural gas projects were done for political reasons to pacify those who believe oil and gas projects should simply be stopped — a position he calls “wrong” and “enormously naïve.” The head of JPMorgan …

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U.S. Electric Utilities Brace for Surge in Power Demand from Data Centers

Electricity Grid, Energy Topics & Technology, Latest, Tri-Pinned, US News, Utilities / By

(Reuters) – U.S. electric utilities predict a tidal wave of new demand from data centers powering technology like generative AI, with some power companies projecting electricity sales growth several times higher than estimates just months earlier. Nine of the top 10 U.S. electric utilities said data centers were a main source of customer growth, leading …

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Chevron CEO’s Pay Rose 12% to $26.5 Million in 2023

Latest, US News / By

By Reuters Michael Wirth, chairman and CEO, Chevron Corporation speaks at the 2021 Milken Institute Global Conference in Beverly Hills, California, U.S. October 18, 2021. REUTERS/David Swanson/FILE PHOTO April 10 (Reuters) – U.S. oil major Chevron’s  CEO Michael Wirth was paid $26.5 million in 2023, a 12.2% increase from the prior year, a securities filing …

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Oil Rises as Middle East Worries Offset U.S. Crude Stock Build

Conventional Energy, Latest, Oil, US News / By

(Reuters) – Oil prices rose on Wednesday after two days of losses as a deadlock in Gaza ceasefire talks renewed uncertainty about the security of supply from the Middle East and offset a bigger-than-expected build in U.S. crude inventories. Brent crude futures were up 30 cents, or 0.3%, at $89.72 per barrel at 1010 GMT, …

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U.S. Oil Refiners’ Weekly Capacity Seen up 231,000 Bpd, IIR Says

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

U.S. oil refiners are expected to have about 1 million barrels per day (bpd) of capacity offline for the week ending April 12, increasing available refining capacity by 231,000 bpd, research company IIR Energy said on Wednesday. Offline capacity is expected to fall to 994,000 bpd in the week ending April 19, IIR added. The …

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Shell at Disadvantage to U.S.-Listed Rivals, says Former CEO

Energy Topics & Technology, Exploration & Production, Latest, US News / By

Shell’s former CEO, Ben van Beurden, said on Tuesday that European oil and gas companies will find it increasingly difficult to compete with U.S.-listed rivals. There are “a deeper pool of investors and capital in New York and the attitude is more positive towards oil and gas companies,” van Beurden, who stepped down in 2021, …

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U.S. Natgas Flows to Texas Freeport LNG Export Plant Seen up on Tuesday

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

The amount of natural gas flowing to Freeport LNG’s liquefied natural gas (LNG) export plant in Texas was on track to rise for a second day in a row on Tuesday, according to data from financial firm LSEG. Energy traders said gas futures were trading about 2% higher so far on Tuesday on the possibility …

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Power Bills Will Keep Rising Even After the Fed Tames Inflation

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

As utilities shell out to fortify, decarbonize and expand their grids, US ratepayers are footing the bill. Bloomberg Alfredo De Avila grows increasingly frustrated when his electricity bill arrives each month. Price gains for groceries and other household essentials have eased in the past year, but the rising cost of power is still eating into …

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Energy Transfer Files for Regulator Review in Pipeline Spat

Energy Topics & Technology, Latest, Pipelines, US News / By

Firm wants FERC to verify developer Williams is in compliance Pipeline giant is in legal battle with several developers Bloomberg Energy Transfer LP is asking the Federal Energy Regulatory Commission to take a closer look at a Williams Cos Inc. pipeline project as a legal battle rages between the two companies. Energy Transfer said in a FERC filing …

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