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Xcel Energy Says its Facilities Were Involved in Smokehouse Creek Fire in Texas

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

(Reuters) – Electric utility Xcel Energy said on Thursday its facilities were involved in an ignition of the Smokehouse Creek fire in Texas. But the company denied “claims that it acted negligently in maintaining and operating its infrastructure”. The Smokehouse Creek Fire has killed at least two people and grown into the largest wildfire in state history …

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Hess Says Reviewing Timeline for Closing of Chevron Deal

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil, US News / By

U.S. oil producer Hess said on Thursday it was reviewing the timeline for closing its merger with Chevron, after oil major Exxon Mobil signaled a potential counter offer for Hess’s Guyana assets. Exxon on Wednesday filed a contract arbitration claim related to Hess’ proposed sale of its Guyana oil properties and suggested it may counter Chevron’s pending …

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TC Energy Confirms Latest Round of Job Cuts; Unspecified Number of Employees Affected

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

CALGARY — TC Energy Corp. has cut an unspecified number of jobs, primarily in Calgary and Houston, the pipeline company confirmed Wednesday. A company spokesperson said in an emailed statement the layoffs relate to TC Energy’s previously announced plans to integrate its Canada, U.S. and Mexico natural gas pipelines business units. The new job cuts …

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Oil Prices Slip on View U.S. Rate Cuts Could be Delayed

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

Summary Delayed rate cut expected, likely to buoy dollar China Jan-Feb crude imports rise U.S. crude stocks rose as gasoline, distillate stocks drop LONDON, March 7 (Reuters) – Oil prices slipped on Thursday as expectations that U.S. interest rate cuts could be delayed capped gains, though upbeat Chinese trade data augured well for demand in …

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COMMENTARY: “What should government do to address climate change?” – Alex Epstein

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“Addressing climate change” is the wrong target; we want to reduce climate danger—and that requires liberating, not eliminating, fossil fuel use. By Alex Epstein Q: What should government do to address climate change? A: “Addressing climate change” is the wrong target; we want to reduce climate danger. And the proven way to do that is: let us use …

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U.S. Natgas Output Down 7% as Producers Cut Back Amid Price Collapse

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

U.S. natural gas output fell about 7% over the past month as producers scaled back production following a collapse in prices to a 3-1/2-year low. Gas prices are down about 23% so far this year, after plunging 44% in 2023, as record production and weak demand from a mild winter left storage facilities at well …

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U.S. Seeks 3 Million Barrels of Oil for Emergency Reserve in September

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

The U.S. is seeking to buy about 3 million barrels of oil for the Strategic Petroleum Reserve for delivery in September, the Energy Department said on Wednesday, as it slowly replenishes the emergency stash after selling a record amount in 2022. President Joe Biden in 2022 ordered a sale of about 180 million barrels from …

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U.S. Democrats Urge Antitrust Regulator to Probe Oil, Gas Mergers

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

Nearly 50 Democrats in the U.S. Congress on Wednesday urged the Federal Trade Commission to probe oil and gas company deals and expand current investigations to protect consumers and industry competition. The industry went on a $250 billion buying spree in 2023, taking advantage of companies’ high stock prices to secure lower-cost reserves. Exxon Mobil Chevron Corp, …

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U.S. Crude Stocks Rise More than Forecast as Refining Ramps Up – EIA

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

U.S. crude oil stockpiles last week rose less than expected as refining rates picked up sharply, data from Energy Information Administration (EIA) showed on Wednesday. Crude inventories rose for a sixth week in a row, building by 1.4 million barrels to 448.5 million barrels in the week ended March 1, the EIA said. Analysts had …

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Gas Prices Jump as Top US Driller Slashes Output to Fight Glut

Conventional Energy, Latest, Natural Gas, US News / By

Mild weather has sent US natural gas prices tumbling EQT cut production by 1 bcf per day starting in late February US natural gas prices surged after EQT Corp., the nation’s largest producer, said it will slash output after an unseasonably warm winter and the resulting supply glut triggered a price collapse. EQT will curtail about …

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