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Traders are finding out the hard way that profiting off a big oil discovery can be messy. Bloomberg One of the biggest oil deals of the past year is throwing up some nasty surprises for a group of hedge funds. Chevron Corp. agreed in October to acquire Hess Corp. for $53 billion. The transaction stands …
Exxon-Chevron Battle in Guyana Roils Hedge Funds Read More »
Amplify, California Resources deny connection to possible leak Investigation focused on area near site of 2021 crude spill California officials are investigating a potential oil spill south of Los Angeles near Huntington Beach, close to where a serious offshore leak occurred in 2021. The US Coast Guard on Friday reported an oily sheen 2.5 miles (4 kilometers) …
California Investigates Potential Offshore Oil Spill Near Los Angeles Read More »
March 8 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes (BKR.O), opens new tab said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, …
U.S. Drillers Cut Oil and Gas Rigs for First Time in Three Weeks – Baker Hughes Read More »
Responding to public comments, analysis to take time: US DoE American official says US is focused on Japan energy security Bloomberg The Biden administration’s pause on new liquefied natural gas export licenses could last months as the Department of Energy reviews the issue, according to a US energy official. “We anticipate the analysis that’s underway …
U.S. Pause on New LNG Export Licenses May Last Months Under Review Read More »
(Reuters) – TC Energy temporarily shut down the Keystone oil pipeline on Thursday to investigate a South Dakota landowner’s report about a possible leak that proved unfounded, the Canadian company and a U.S. pipeline regulator said on Friday. TC told the Pipeline and Hazardous Materials Safety Administration (PHMSA) about the reported leak and conducted aerial observation …
TC Energy Briefly Shut Keystone Oil Pipeline on Unfounded Leak Concern Read More »
(Reuters) – Oil prices closed 1% lower on Friday and fell even more for the week as markets remained wary of soft Chinese demand even as producer group OPEC+ extended supply cuts. Brent crude futures settled down 88 cents, or 1.1%, at $82.08 a barrel. U.S. West Texas Intermediate crude futures (WTI) fell 92 cents, …
Oil Dips 1%, Posts Weekly Loss as Markets Weigh Chinese Demand Read More »
Chevron CEO Michael Wirth is facing a head-to-head match with Exxon Mobil with his $53 billion bid for Hess and its stake in oil hotspot Guyana, and could wind up trapped in a dispute between two of South America’s biggest energy rivals. On Wednesday, Exxon filed an arbitration claim that could block Hess’ proposed merger with Chevron. …
Chevron’s CEO Faces Challenges of a Lifetime With Hess Bid Read More »
TC Energy’s Keystone oil pipeline is offline due to operational issues, cutting off a major conduit of Canadian oil to the United States, three industry sources said on Thursday. The 622,000 barrel-per-day pipeline has been dogged by problems, including a 2022 spill in rural Kansas. Calgary, Alberta-based TC did not immediately respond to a request …
TC Energy’s Keystone Oil Pipeline Offline Due to Operational Issues Read More »
U.S. natural gas futures were little changed on Thursday as the market waited for direction from a federal report expected to show a much smaller-than-usual storage withdrawal last week when warmer-than-normal weather kept heating demand low. That lack of price movement came despite a bearish low amount of gas flowing to liquefied natural gas (LNG) …
U.S. Natgas Prices Little Changed Ahead of Federal Storage Report Read More »
Analysis by Energy Workforce President Tim Tarpley Energy Workforce President Tim Tarpley On Wednesday, the SEC voted on its long-delayed final rule requiring US companies to disclose climate impacts from their operations. This rule was first proposed in March 2022. The initial proposal would have divided disclosures into Scope 1, which is direct emissions the …
After Significant Delay, SEC Finally Release Climate Disclosure Rule Read More »
