Biden Blocks Japan’s Nippon Steel from Buying US Steel for $14.9B
President Biden cited national security concerns in his decision, but Nippon Steel and U.S. Steel said the decision ignored the law and was motivated by politics.
US Oil, Gas Rigs Unchanged for Fourth Straight Week
The oil and gas rig count stayed at 589 in the week to Jan. 3. Baker Hughes said that puts the total rig count down 32 rigs, or 5% below this time last year.
Darbonne: The Power Grid Stuck in Gridlock
Greater power demand is coming but, while there isn’t enough power generation to answer the call, the transmission isn’t there either, industry members and analysts report.
Venezuela’s 2024 Oil Exports Climb 10.5% Amid Political Turmoil
By Marianna Parraga Oil shipments to the U.S. rose 64%, to India up sixfold Crude oil production up 17% in first 11 months of last year HOUSTON, Jan 3 (Reuters) – Venezuela’s oil exports rose 10.5% last year despite political instability and changes to the U.S. sanctions regime on the country, as partners of state …
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Delek Closes $285MM Buyout of Permian’s Gravity Water Midstream
Delek Logistics continues to focus on bolstering its Permian Basin infrastructure holdings with the acquisition of Gravity Water Midstream.
Equinor Secures $3 Bln Financing for U.S. Empire Wind 1 Project
(Reuters) – Norway’s Equinor said on Thursday it had secured a financing package of more than $3 billion for its Empire Wind 1 offshore wind power project in the United States. The company expects the total capital investments, including fees for the use of the South Brooklyn Marine Terminal, to be around $5 billion, including …
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Trump Calls to ‘Open Up’ North Sea, Get Rid of Windmills
Summary • Trump says UK making “a very big mistake” • Britain is increasing windfall tax on North Sea energy producers • Government aims to quadruple offshore wind by 2030 (Reuters) – U.S. President-elect Donald Trump called to “open up” the British North Sea and get rid of windmills in a post on his social …
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Oil Set for Weekly Gains as Market Eyes Chinese Policy Support
Summary • Chinese economic frailties heighten hopes of further stimulus • Federal Reserve interest rate policy also in focus • Colder weather in Europe, U.S. to boost oil demand (Reuters) – Oil prices fell slightly on Friday but remained poised for weekly gains after closing at their highest in more than two months in the …
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Biden to Ban More Offshore Oil Drilling Before Trump Arrives
Order would set permanent protections for some coastal waters Decree to complicate Trump’s plan to boost US crude production President Joe Biden is preparing to issue a decree permanently banning new offshore oil and gas development in some US coastal waters, locking in difficult-to-revoke protections during his final weeks in the White House. Biden is set within …
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U.S. LNG Exports Soar in December, Lifting Full-Year Growth by 4.5%
(Reuters) – U.S. LNG exports reached near record levels in December, rising to 8.5 million metric tonnes (MT) as two new plants started, and driving up full-year shipments 4.5% over 2023, according preliminary data from financial firm LSEG. December’s output was just short of the record monthly export of 8.6 MT recorded in December 2023 …
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