U.S. Sanctions Halt Delivery of New Vessels to Russian LNG Plant

CDN and International News, Conventional Energy, Latest, LNG / By

MOL says efforts to charter or sell ice-breakers face curbs Operator Novatek PJSC already forced to delay maiden voyage The delivery of specialized ships to a new Russian liquefied natural gas facility is being upended by US sanctions, according to Mitsui OSK Lines Ltd., threatening exports. The Japanese shipping line can no longer charter the three ice-breaker …

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Venezuela Oil Industry Fears Losing Ground if U.S. Revives Sanctions

CDN and International News, Latest / By

Firms fret reestablished links with US suppliers may be halted January oil output rose 22% from prior year as sanctions eased Venezuelan President Nicolás Maduro is betting the US won’t revive all of its sanctions as he backslides on a promise of free elections. Inside the nation’s oil industry, local operators are worried he’s wrong. Oil and …

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Exxon, Chevron and Shell Deliver a Cash Gusher for Investors

Latest, US News / By

By Javier Blas Big Oil has delivered a set of remarkable earnings. Without fanfare, ExxonMobil Corp., Chevron Corp. and Shell Plc all did in the fourth quarter what they’d promised: Start new oil and gas projects; cut costs; return lots of money to shareholders. It’s a model for the notoriously boom-and-bust industry. Together, the three …

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ChampionX Reports Fourth Quarter and Full Year 2023 Results, Increases Share Repurchase Authorization to $1.5 Billion and Raises Quarterly Dividend by 12%

Latest, Press Releases / By

Fourth-quarter revenue of $943.6 million decreased 4% year-over-year, flat sequentially Fourth-quarter net income attributable to ChampionX of $77.2 million increased 14% year-over-year, and decreased 1% sequentially Fourth-quarter adjusted EBITDA of $198.1 million increased 10% year-over-year, flat sequentially Fourth-quarter cash from operating activities of $169.0 million and free cash flow of $139.8 million  Full-year net income attributable to ChampionX of $314.2 million increased 103% year-over-year Full-year adjusted EBITDA of $771.2 million …

ChampionX Reports Fourth Quarter and Full Year 2023 Results, Increases Share Repurchase Authorization to $1.5 Billion and Raises Quarterly Dividend by 12% Read More »

Vital Energy Closes Second Transaction to Acquire Additional Working Interests Related to Recent Permian Basin Acquisition

Latest, Press Releases / By

TULSA, OK, Feb. 05, 2024 (GLOBE NEWSWIRE) — Vital Energy, Inc. (NYSE: VTLE) (“Vital Energy” or the “Company”) today announced the second acquisition of additional working interests in producing assets associated with the recent asset acquisition from Henry Energy LP, Moriah Henry Partners LLC and Henry Resources LLC (collectively “Henry”) for total consideration of approximately …

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With Solar Industry in Crisis, Europe in a Bind Over Chinese Imports

CDN and International News, Latest, Renewable Energy, Solar / By

Summary EU heavily reliant on Chinese solar panel imports Some European solar manufacturers on brink of collapse Governments, industry split over how to help Europe wants to grow local clean tech manufacturing (Reuters) – Europe’s green energy transition is stuck between a rock and a hard place. A flood of cheap Chinese solar panel imports …

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U.S. Lawmakers Hold First of Two Hearings on Biden’s LNG Pause

Conventional Energy, Latest, LNG, Pinned Primary / By

US lawmakers hold first of two hearings on Biden’s LNG pause (Reuters) – As Republican and some Democratic U.S. lawmakers slam President Joe Biden’s pause on approvals of exports of liquefied natural gas (LNG) a House subcommittee will hold a hearing on the issue on Tuesday, the first of two in Congress this week. The House Energy, …

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BP Beats Forecast With $3 Billion Quarterly Profit, Boosts Buybacks

Latest, US News / By

Summary BP profit halves to $14 bln in 2023 Boosts buybacks to $1.75 billion over next 3 months Gas and LNG trading help boost Q4 profit LONDON, Feb 6 (Reuters) – BP posted forecast-beating earnings of $3 billion for the fourth quarter and boosted share repurchases as its recently appointed CEO vowed to make pragmatic …

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BP Continues Assessment of Whiting, Indiana, Refinery After Power Loss

Energy Topics & Technology, Latest, Refineries / By

BP Plc was continuing assessments on Monday of production units at its 435,000 barrel-per-day (bpd) Whiting, Indiana, refinery following a plant-wide power outage on Thursday, said people familiar with the matter. BP was developing plans and schedules for restarting the refinery, the largest in the U.S. Midwest, once the evaluation of the refinery’s condition is …

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