LONDON, May 9 (Reuters) – Portfolio investors have dumped petroleum futures and options, reversing the buying frenzy inspired by the production cuts announced by Saudi Arabia and its OPEC⁺ allies at the start of April. Hedge funds and other money managers sold the equivalent of 145 million barrels in the six most important futures and …
Investors Dumped Oil, Curtailing OPEC⁺ Driven Rally – John Kemp Read More »
HOUSTON, May 09, 2023 (GLOBE NEWSWIRE) — Occidental (NYSE: OXY) today announced its first quarter 2023 financial results. The earnings release and accompanying financial schedules can be accessed via the Investor Relations section of the company’s website, oxy.com. The earnings release is also available on the U.S. Securities and Exchange Commission’s website at sec.gov. The company will hold a conference …
U.S. natural gas production will rise to a record high in 2023, while demand will fall, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. EIA projected dry gas production will rise to 101.09 billion cubic feet per day (bcfd) in 2023 and 101.24 bcfd in 2024 from …
U.S. Natgas Output to Hit Record High in 2023, Demand to fall Read More »
WASHINGTON — An Indigenous band is asking a Wisconsin judge to order an emergency shutdown of the Line 5 pipeline. The Bad River Band of the Lake Superior Chippewa says ongoing spring flooding risks exposing and rupturing the pipeline on its territorial land. The band has asked District Court Judge William Conley, who is presiding …
Riverbank erosion prompts Wisconsin band to ask for emergency shutdown of Line 5 Read More »
May 9 (Reuters) – U.S. refiner Valero Energy Corp (VLO.N) said on Tuesday CEO Joseph Gorder would step down from the role on June 30 and named Chief Operating Officer Lane Riggs as his successor. Gorder has led Valero as CEO since May 1, 2014 and served as chairman of the board since Dec. 31, 2014. Gorder …
Valero Energy CEO Joseph Gorder to step down, insider Riggs to succeed Read More »
Wildfires burning across the Canadian province of Alberta have prompted the evacuation of almost 30,000 residents and the shutdown of oil and natural gas wells and pipeline systems.A total of 109 blazes were burning as of late Sunday, 30 of which were classified as out of control, and a provincial state of emergency has been …
Wildfires in Canada Force Evacuations, Cut Oil and Gas Output Read More »
LAUNCESTON, Australia, April 18 (Reuters) – There is an increasing disconnect between the forecasts for strong global oil demand growth this year, led by Asia, and the reality of weakening margins for refined fuels. The profit from turning a barrel of Dubai crude into refined products at a typical Singapore refinery dropped to $2.53 a …
Column: Asia’s collapsing refinery margins undermine bullish crude case Read More »
Mainspring Energy’s device is a new way to create clean electricity, and it can run on hydrogen. (Bloomberg) Two generators thrumming in a cramped Silicon Valley parking lot represent a clean power technology so new that most potential customers don’t know it exists. For Adam Simpson and his startup, Mainspring Energy Inc., that’s both a …
New Generator Technology Can Produce Clean Energy Read More »
The Pentagon is sounding alarms over Biden administration plans to advance offshore wind projects along the central Atlantic US coast, warning that almost all of the new terrain eyed for development conflicts with military operations. Maps shared with industry stakeholders and seen by Bloomberg News show vast red areas that the Navy and Air Force have deemed “highly problematic,” …
Pentagon Sounds Alarm Over Biden Plan for Offshore Wind Sites Read More »
U.S. natural gas futures jumped about 9% to a three-week high on Monday on forecasts for cooler weather and more heating demand over the next two weeks than previously expected. Prices were also rising as the amount of gas flowing to U.S. liquefied natural gas (LNG) export plants remained on track to hit a record …
U.S. Natgas Jumps 9% to 3-Wk High on Cooler Forecasts, Record LNG Feedgas Read More »
