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Financiers Grab Reins as New Energy Startups Struggle

Latest, US News / By

(Reuters) – Private equity firms are increasing their direct oversight of energy transition companies in their portfolios, taking on added duties to address runaway costs from supply chain issues and preserve valuations, executives said at the CERAWeek energy conference last week. Excitement around new energy technologies saw billions of dollars of investment poured in the last four …

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JERA, Exxon to Explore Development of Hydrogen and Ammonia Production Project in U.S.

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

(Reuters) – JERA, Japan’s top power generator, said on Monday it has agreed with Exxon Mobil to jointly explore the development of a low-carbon hydrogen and ammonia production project in the United States. Exxon is developing what is expected to be the world’s largest low-carbon hydrogen production plant at its Baytown Complex east of Houston …

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U.S. Awards Record $6 Bln to Back Industrial Emissions Reduction Projects

Emission Reduction, Energy Topics & Technology, Latest, US News / By

(Reuters) – The U.S. Energy Department on Monday announced $6 billion in federal funding to subsidize 33 industrial projects in 20 states to cut carbon emissions, saying the investment would support well-paying union jobs and boost U.S. competitiveness. Energy Secretary Jennifer Granholm will unveil the awards during a visit to a Cleveland-Cliffs Steel Corp facility in …

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Oil Rises as Heightened Geopolitical Risks Exacerbate Supply Concerns

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

(Reuters) – Oil prices rose in Asian trading on Monday on concerns over tighter global supply brought about by escalating conflicts in the Middle East and between Russia and Ukraine, while a shrinking U.S. rig count added to upward price pressure. Brent crude futures climbed 39 cents, or 0.5%, to $85.82 a barrel at 0759 …

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Stellantis Lays Off About 400 Workers to Cut Costs in EV Transition

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

CEO says company will have to cut costs to make EVs affordable for the middle class The Associated Press DETROIT — Jeep maker Stellantis NV is laying off about 400 white-collar workers in the United States as it deals with the transition from combustion engines to electric vehicles. EV price gap needs closing to spur demand The company …

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From AI to Oil, Demand Dominates the Talk in Houston – CERAWeek Key Takeaways

Conferences, Conventional Energy, Events, Latest, LNG, Natural Gas, Oil, Pinned Primary, Trade Shows, US News / By

The outlook was robust at CERAWeek, and that may have profound implications for the energy transition. If you’re looking for a word to sum up this year’s CERAWeek by S&P Global, try this one: demand. Whether they were discussing oil, gas, power or renewables, speakers at the giant Houston talkfest were optimistic about consumption. Any …

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Oil Prices Down on Gaza Ceasefire Talks, Flat on the Week

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary US says talks in Qatar could reach Gaza ceasefire agreement Russia attacks Ukrainian energy infrastructure overnight Speculators raise U.S. crude oil net longs-CFTC US oil rig counts falls by one to 509 this week, Baker Hughes says (Reuters) – Oil prices slipped on Friday and were flat on the week as the possibility of …

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CERAWEEK Financiers Grab Reins as New Energy Startups Struggle

Latest, US News / By

(Reuters) – Private equity firms are increasing their direct oversight of energy transition companies in their portfolios, taking on added duties to address runaway costs from supply chain issues and preserve valuations, executives said at the CERAWeek energy conference this week. Excitement around new energy technologies saw billions of dollars of investment poured in the last four …

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U.S. Gas Producers Shrug Off Low Prices, Bet on LNG Boom

Conventional Energy, Latest, LNG, US News / By

Energy executives say they are looking past current ultra-cheap gas prices and betting on a coming wave of new liquefied natural gas (LNG) plants to lift demand – and prices – for the fuel. Natural gas prices have fallen by one-third this year, undercut by a warmer winter, outages at LNG facilities and higher-than-expected output. …

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U.S. Gas Rig Count Falls to Lowest Since January 2022 – Baker Hughes

Conventional Energy, Drilling Rigs, Energy Topics & Technology, Latest, Natural Gas, Oil, US News / By

U.S. energy firms this week cut the number of natural gas rigs operating to the lowest level since January 2022, energy services firm Baker Hughes said in its closely followed report on Friday. The combined oil and gas rig count, an early indicator of future output, fell by five to 624 in the week to …

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