Reuters NEW YORK, June 15 (Reuters Breakingviews) – The approach of peak oil demand is bad for oil producers, but it’s worse for companies that help dig and service new wells. A $5 billion merger between Patterson-UTI Energy (PTEN.O) and NexTier Oilfield Solutions (NEX.N), two small oil field services firms, offers a way out. Touted as a merger of equals, …
Oil Servicers Patterson-UTI and NexTier Sweeten the Pill Read More »
Oil held steady as investors tracked China’s plans to support its economy while a prior rally in wider markets ran out of steam. Benchmark Brent futures traded near $76.50 a barrel after climbing more than 2% last week as China cut interest rates and hinted that further support would be delivered. Still, Friday’s State Council meeting in …
Oil Steadies as Focus Returns to China Stimulus on U.S. Holiday Juneteenth Read More »
LAKE CHARLES, Louisiana, June 16 (Reuters) – The global battle to reshape the lithium industry is sucking in oil producers, tech startups and entrenched mining giants, each jockeying to be the first to reinvent how a metal key to the green energy transition is produced. A fleet of direct lithium extraction (DLE) technologies are on …
Inside the Race to Remake Lithium Extraction for EV Batteries Read More »
June 17(Reuters) – A U.S. judge has ordered Canadian energy company Enbridge (ENB.TO) to shutter portions of an oil pipeline that runs through tribal land in Wisconsin within three years and to pay the tribe nearly $5.2 million for trespassing plus a portion of its profits until the shutdown is completed. U.S. District Judge William Conley …
Legal & General Investment Management, the UK’s largest asset manager, said it wants Shell Plc to explain how it thinks it can still reach net zero emissions by 2050 while ratcheting up investments in fossil fuels. Shell said Wednesday it intends to devote an ever larger chunk of annual spending to oil and gas, a …
Shell Challenged on Net Zero After Fossil-Fuel Investment Boost Read More »
China’s May refinery runs hit second-highest total on record Russia says ‘realistic’ for oil prices to reach $80/bbl Bank of England expected to raise interest rates next week U.S. oil rigs fall to lowest since April 2022 NEW YORK, June 16 (Reuters) – Oil rose on Friday and posted a weekly gain, as higher Chinese …
Oil Gains for the Week as Supply Cuts Balance Demand Concerns Read More »
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a seventh week in a row for the first time since July 2020, energy services firm Baker Hughes Co (BKR.O) said in its closely followed report on Friday. The oil and gas rig count, an early indicator of …
US drillers cut oil and gas rigs for seventh week in a row, Baker Hughes says Read More »
U.S. natural gas futures gained about 2% to a three-month high on Friday on forecasts for demand to soar as the weather turns hot in late June, especially in Texas. Power use in Texas is expected to break records next week as homes and businesses crank up their air conditioners to escape the first heat …
US natgas up 2% to three-month high with hot weather coming in late June Read More »
Aaron Foyer Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Larger oil companies tend to have lower emissions intensities per barrel of oil produced due to several factors that result from their scale, operational capabilities, and strategic approaches to environmental management. Advanced Technologies and Infrastructure: Larger oil companies have greater financial resources and operational …
Emission Intensities of Large Companies – ENERGYminute Read More »
A top renewable power trade group endorsed rigorous requirements for a new hydrogen tax credit that would rule out the use of electricity from older wind, solar and nuclear facilities. The approach, advanced by the American Clean Power Association on Thursday, came amid a furious lobbying feud in Washington and as the US Treasury Department …
Bid to End Hydrogen Tax Feud Comes With Tight Clean-Power Limits Read More »
