Reuters U.S. oil refiners are expected to have about 1.9 million barrels per day (bpd) of capacity offline for the week ending Jan. 26, decreasing available refining capacity by 178,000 bpd, research company IIR Energy said on Wednesday. Offline capacity is expected to further fall to 1.58 million bpd in the week ending Feb. 2, …
US Oil Refiners’ Weekly Capacity Seen Down 178,000 Bpd -IIR Read More »
(Reuters) – Asia and Africa have replaced Europe as the top destinations for Russian crude oil exports since Moscow was slapped with European sanctions on sales of energy products following its invasion of Ukraine in February 2022. Prior to the sanctions in mid-2022, Europe accounted for more than 60% of Russia’s oil exports and provided …
Oil Demand in Asia, Africa Boosted by Cheap Russian Crude Read More »
(Reuters) – Power generated from low-emissions sources, such as wind, solar and nuclear, will be adequate to meet growth in global demand for the next three years, the International Energy Agency (IEA) said, adding power sector emissions are on the decline. Following record growth, electricity generation from low-emissions sources will account for almost half of …
Growth in Low-Emissions Power Expected to Cover Demand – IEA Read More »
In the energy sector, the term artificial intelligence or “AI” is becoming more and more common, and its potential importance is being examined more than ever. By enabling effective decision-making processes and real-time insights into asset performance, AI technology is starting to change the energy business across North America and beyond. Energy firms can now optimize operations, minimize downtime, …
Energy industry upgrade using artificial intelligence? Read More »
International Energy Agency data shows the cartel and its allies may need to restrain supplies all year. OPEC’s mission to defend oil prices this year is starting to look even harder. The cartel and its allies launched new production cuts this month to stave off a global oil surplus, and group leader Saudi Arabia said …
Energy Transfer does not expect the U.S. Army Corps of Engineers to shut down the Dakota Access oil pipeline (DAPL) after a long-pending environmental review of a section that runs under a lake and is opposed by nearby Native American tribes, Executive Chair Kelcy Warren said on Tuesday. A U.S. court in 2022 ordered the …
Energy Transfer: Dakota Access Oil Pipeline Won’t Shut after Environmental Study Read More »
U.S. natural gas futures slid about 3% to a five-week low on Tuesday on forecasts for demand to keep dropping and output to keep rising as the weather turns warmer than normal through at least early February. That price drop occurred even though the amount of gas flowing to U.S. liquefied natural gas (LNG) export …
U.S. Natgas Prices Slide 3% to 5-Week Low on Warmer Weather Forecasts Read More »
ExxonMobil and Chevron lead the charge to secure future resource, but will this historic consolidation continue? CALGARY, Alberta (January 23, 2024) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company, is releasing its summary of Q4 and full-year 2023 upstream merger and acquisition (M&A) activity. Q4 recorded a massive …
$144B of Transactions in Recording-Setting 4Q23 for Upstream M&A Read More »
The U.S. energy sector has entered a new phase of consolidation as the industry went on a $250-billion buying spree in 2023, and experts see more transactions on the horizon. The majority of energy executives polled in December by the Federal Reserve Bank of Dallas expected more oil deals worth $50 billion or higher to …
More U.S. Energy Deals Likely in 2024 in Wave of Consolidation Read More »
(Reuters Breakingviews) – Exxon Mobil is trying to banish a climate activist proposal in a Texas court. The $385 billion oil giant would be better off leaving its own shareholders to do so. After all, similar measures have resoundingly failed before. Choosing to instead fight against a vote is counterproductive for a company that has struggled against …
OPINION: Exxon Activists Should be Banished With Vote, Not Court Read More »
