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August 18, 2022

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U.S. offshore oil output to restart after pipeline fix

Reuters
NEW YORK, Aug 12 (Reuters) – A damaged oil pipeline component that disrupted output at several offshore U.S. Gulf of Mexico platforms was repaired late Friday, a Louisiana official said, with producers moving to reactivate some of the halted production. A failed flange connecting two onshore pipelines operated by Shell......

Oil leak contained at three U.S. Gulf platforms on pipeline outage, Shell says

Reuters
Shell logo and stock graph are seen in this illustration taken May 1, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register HOUSTON, Aug 11 (Reuters) – Top U.S. Gulf of Mexico oil producer Shell (SHEL.L) said on Thursday it halted production at three U.S. Gulf of......

Fire rages at Cuba oil terminal; third tank collapses after spill -governor

Reuters
HAVANA, Aug 8 (Reuters) – A third crude tank caught fire and collapsed at Cuba’s main oil terminal in Matanzas, the province’s governor said on Monday, as an oil spill spread flames from a second tank that caught firetwo days earlier in the island’s biggest oil industry accident in decades.......

EXCLUSIVE Brigham Minerals explores sale of the company-sources

Reuters
Aug 3 (Reuters) – Brigham Minerals Inc (MNRL.N), a company that owns the rights to extract oil and natural gas from land across numerous U.S. shale basins, is exploring options that include a sale or a merger, people familiar with the matter said on Wednesday. Brigham’s shares have risen more......

Texas grid facing another power shortage amid extreme heat

Reuters
Texans asked to cut power usage for third time this year Coal and gas plant outages and low wind power weigh on supply July 13 (Reuters) – Texas’s power grid operator on Wednesday asked homes and businesses to raise thermostats and cut power use amid stifling heat that threatened to......

A shale booster shot: ‘Re-fracs’ rise as cheap way to lift U.S. oil output

Reuters
June 27 (Reuters) – U.S. shale oil producers are returning to existing wells and giving them a second, high-pressure blast to lift output for a fraction of the cost of a finishing a new well. These “re-fracs” are taking hold as shale oil producers look to take advantage of $100......

Analysis: Asian demand, rising costs squeeze Europe’s LNG import plan

Reuters
Model of LNG tanker is seen in front of the EU flag in this illustration taken May 19, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register Freeport outage adds to LNG market tightness Asian demand rebound means Europe will compete for LNG LNG imports seen lower......

Biden administration leans on Tesla for guidance in renewable fuel policy reform

Reuters
June 23 (Reuters) – U.S. President Joe Biden rarely mentions electric car maker Tesla Inc (TSLA.O) in public. But privately his administration has leaned on the company to help craft a new policy to allow electric vehicles (EVs) to benefit from the nation’s lucrative renewable fuel subsidies, according to emails......

Biden blasts oil refiners for record high gasoline prices, profits

Reuters
Gas prices over the $6.00 mark are advertised at a 76 Station in Santa Monica, California, U.S., May 26, 2022. REUTERS/Lucy Nicholson Register now for FREE unlimited access to Reuters.com Register WASHINGTON, June 15 (Reuters) – U.S. President Joe Biden on Wednesday demanded oil refining companies explain why they are......

Energy executives at transition conference still lean on fossil fuels

Reuters
NEW YORK, June 14 (Reuters) – Energy company executives at a conference on the global transition insisted on Tuesday that fossil fuels, especially natural gas, are still needed at a time when global markets grapple with tight energy supplies and skyrocketing prices. Oil and gas supplies have becomeconstricted in many......

Founder Harold Hamm offers to take Continental private at $25-bln value

Reuters
June 14 (Reuters) – Continental Resources Inc (CLR.N) said on Tuesday it received an all-cash offer from billionaire-founder Harold Hamm’s family trust, a deal which could take the U.S. shale producer private at a valuation of $25.41 billion. If both sides reach an agreement, it would result in the most......

New gas liquefaction, coking plants in Oaxaca imply 120 bln peso investment- Lopez Obrador

Reuters
MEXICO CITY, June 11 (Reuters) – Mexican President Andres Manuel Lopez Obrador pledged on Saturday to see through the completion of a gas liquefaction facility and a coking plant in the southern state of Oaxaca, in an investment of 120 billion pesos ($6 billion). On a visit to the Salina......

Freeport LNG plant blast adds to strain on global supplies

Reuters
HOUSTON, June 9 (Reuters) – Freeport LNG, operator of one of the largest U.S. export plants producing liquefied natural gas (LNG), will shut for at least three weeks following an explosion at its Texas Gulf Coast facility, raising the risk of shortages especially in Europe. Freeport LNG, which provides around......

U.S. Interior must weigh climate impacts of oil, gas leasing -settlement

Reuters
WASHINGTON, June 2 (Reuters) – The Biden administration must thoroughly analyze the climate impacts of oil and gas leasing on nearly 4 million acres (1.6 million hectares) of federal land in five states before drilling can take place, according to legal settlements reached late Wednesday. The requirement comes after Judge......

EXCLUSIVE Biden administration likely to raise ethanol blending volumes for 2021, sources say

Reuters
A sign advertising E15, a gasoline with 15 percent of ethanol, is seen at a gas station in Clive, Iowa, United States, May 17, 2015. REUTERS/Jim Young Register now for FREE unlimited access to Reuters.com Register June 1 (Reuters) – The Biden administration is likely to raise ethanol blending mandates......

Global refiners falter in efforts to keep up with demand

Reuters
May 31 (Reuters) – Refiners worldwide are struggling to meet global demand for diesel and gasoline, exacerbating high prices and aggravating shortages from big consumers like the United States and Brazil to smaller countries like war-ravaged Ukraine and Sri Lanka. World fuel demand has rebounded to pre-pandemic levels, but the......

Chevron California refinery workers ratify contract; ending strike

Reuters
A Chevron gas station sign is seen in Del Mar, California, April 25, 2013. REUTERS/Mike Blake/File Photo Register now for FREE unlimited access to Reuters.com Register HOUSTON, May 28 (Reuters) – Striking workers at Chevron Corp’s (CVX.N) Richmond, California, refinery voted on Saturday to ratify the latest contract offered by......

Hedge fund Elliott chases oil and gas deals, bucking Wall Street

Reuters
May 25 (Reuters) – Energy bankers who lost one client after another when poor returns pushed many investment firms out of the U.S. oil patch got a welcome email earlier this year. Elliott Management, a hedge fund founded and co-led by billionaire Paul Singer and best known for its activist......

U.S. prepares renewal of Chevron’s Venezuela license without broader terms -sources

Reuters
A Chevron gas station sign is seen in Del Mar, California, April 25, 2013. REUTERS/Mike Blake Register now for FREE unlimited access to Reuters.com Register HOUSTON/WASHINGTON, May 24 (Reuters) – The U.S. Treasury Department is getting ready to renew in the coming days Chevron Corp’s (CVX.N) license to operate in......

Analysis: U.S. coal companies struggle to cash in on Europe crunch

Reuters
WASHINGTON, May 17 (Reuters) – U.S. coal producers are seeking to boost exports to cash in on soaring prices since Russia’s invasion of Ukraine but face big headwinds including shipping bottlenecks, labor shortages, and a dismal long-term outlook discouraging investments in new mines. The outlook means the United States, which......

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