First power from Ørsted’s Gode Wind 3 offshore wind farm in the German North Sea is now feeding the grid.Offshore wind construction company Cadeler reports its wind…
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Biden administration restarts plans to refill Strategic Petroleum Reserve as oil prices dip
(Bloomberg) – The Biden administration is taking advantage of a dip in oil prices to restart plans to refill its depleted emergency oil cache.
The Energy Department announced Tuesday it was seeking as much as 3.3 MMbbl of …
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ExxonMobil to establish singular North American research and technology hub in Houston, Texas
(Bloomberg) – Exxon Mobil Corp. plans to establish a single North American research and technology hub at its Houston headquarters, resulting in the closure of campuses in Clinton, New Jersey, and Sarnia in Ontario.
The closures will affect …
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US power and natgas prices turn negative in Texas, California and Arizona
U.S. spot power and natural gas prices turned negative in Texas, California and Arizona for Tuesday as pipeline maintenance trapped gas in the Permian Shale in West Texas amid low demand for energy and ample hydropower in the
…
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BP misses Q1 earnings forecasts on lower oil and gas prices
Lower oil and gas prices and a prolonged refinery outage in the United States dragged down BP’s earnings for the first quarter to below analyst expectations.
UK-based supermajor BP (NYSE: BP) reported on Tuesday an underlying …
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Oil and gas trade group raises “serious concerns” about Biden’s revised greenhouse gas reporting rule
(WO) – In October 2023, the American Petroleum Institute (API) urged the Biden administration to revise the proposed Subpart W greenhouse gas (GHG) reporting rule so that it reflects the progress the oil and gas industry has made …
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COLUMN-Funds negative towards US crude and fuels amid ample stocks: Kemp
LONDON – Investors shuffled positions in petroleum modestly last week after heavy selling the week before as war risk diminished and prices settled back towards long-term inflation-adjusted averages.
Hedge funds and other money managers sold the equivalent of …
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ExxonMobil CEO sees Chevron arbitration over Hess purchase, assets offshore Guyana going into 2025
(Bloomberg) – Exxon Mobil Corp. Chief Executive Officer Darren Woods foresees arbitration with Chevron Corp. over a premier asset offshore Guyana stretching into 2025 due to the importance of the case to both companies.
The companies still need …
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Exclusive-Colombia’s Ecopetrol exploring participation in offshore wind auction
BOGOTA – Colombia’s majority state-owned energy company Ecopetrol is analyzing its potential direct participation in the Andean country’s first-ever offshore wind auction, the company said in a statement to Reuters.
The government of President Gustavo Petro, Colombia’s first
…
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US natgas flows to Freeport LNG in Texas rise to 2-month high – LSEG
The amount of natural gas flowing to Freeport LNG’s export plant in Texas rose to a two-month high on Sunday in what energy traders said was another sign that the plant was wrapping up a series of outages …
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