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U.S. oil stocks in the Strategic Petroleum Reserve (SPR) at year-end will be at or exceeding the level that would have existed prior to massive sales two years ago, U.S. Energy Secretary Jennifer Granholm said on Monday. Stocks will reach those levels in part on the cancellation of congressional-mandated sales of about 140 million barrels, …
U.S. to Return Emergency Oil Reserve to Prior Levels by Year-End Read More »
U.S. oil output from top shale-producing regions will rise in April to the highest level in four months, the U.S. Energy Information Administration (EIA) said in its monthly Drilling Productivity Report on Monday. Production from the top basins will climb by more than 9,000 barrels per day (bpd) to 9.77 million bpd, the strongest output …
U.S. Oil Output From Top Shale Regions to Rise in April, EIA Says Read More »
Europe and the U.S. will have to spend in excess of $1 trillion for building infrastructure to enable widespread use of hydrogen fuel, an executive at Mitsubishi Heavy Industries said on Monday. A wholesale move to hydrogen will need significant new demand, which could only come with investments in infrastructure to reduce the cost. European …
Hydrogen Adoption Will Cost Europe, US More Than $1 Trillion Read More »
BP Plc’s 435,000 barrel-per-day (bpd) Whiting, Indiana refinery returned to normal operations for the first time since a February plantwide power outage, a company spokesperson said on Monday.Gasoline prices in the Chicago-area climbed by at least 20 cents a gallon in the days following the Feb. 1 power outage at the Whiting refinery. (Reporting by …
BP Whiting, Indiana Refinery Returns to Normal Ops, Says Company Read More »
Exxon Mobil CEO Darren Woods on Monday said his company is trying to secure preemption rights over Hess Corp’s Guyana assets in its dispute with Chevron, not buy the company itself. In his first public remarks on the company’s pursuit of an arbitration case that could block Chevron’s $53 billion deal for Hess, Woods said Exxon …
(Reuters) – The head of the world’s largest energy company on Monday urged for a “re-set” of plans to quickly replace fossil fuels with renewable energies, calling current energy transition timetables a fantasy. Saudi Aramco CEO Amin Nasser in remarks at a Houston energy conference called for recognition that demand for oil and gas is …
CERAWEEK: Saudi Aramco CEO Argues for “Re-set” of Energy Transition Timetables Read More »
U.S. oil refiners are expected to have about 775,000 barrels per day (bpd) of capacity offline for the week ending March 22, increasing available refining capacity by 329,000 bpd, research company IIR Energy said on Monday. Offline capacity is expected to edge down to 744,000 bpd in the week ending March 29, IIR added. The …
U.S. Oil Refiners’ Weekly Capacity Seen up 329,000 Bpd – IIR Read More »
Tellurian said on Monday it was looking at all options, including a potential sale, and that CEO Octavio Simoes had stepped down from his role, amid the liquefied natural gas developer’s efforts to keep its Driftwood export project alive. The company earlier this year had hired Lazard to explore a sale of its Haynesville upstream …
LNG Developer Tellurian to Explore Sale Among Other Options, CEO Steps Down Read More »
After coming under attack from both environmentalists and investors in the first half of his seven-year tenure at the helm of Exxon Mobil Corp., Darren Woods is on the offensive. Already this year, Woods filed an arbitration case against Chevron Corp. for attempting to buy into Exxon’s massive offshore oil project in Guyana and a lawsuit against …
RESURGENCE: Exxon Chief Goes on the Offensive as Wall Street Sours on ESG Read More »
(Reuters) – Venture Global LNG said on Sunday it would acquire a fleet of nine liquefied natural gas (LNG) transport vessels, expanding its ability to sell and ship its own cargoes. Venture Global has exported hundreds of cargoes since it started liquefying gas for export in 2022 from the first of its three planned facilities …
