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July 1, 2022

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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......

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......

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......

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......

Alberta premier says Canada could boost oil export to U.S., calls for major new pipeline

Reuters
Alberta Premier Jason Kenney addresses delegates at the annual Alberta United Conservative Party (UCP) convention in Calgary, Alberta, Canada November 20, 2021. REUTERS/Todd Korol Register now for FREE unlimited access to Reuters.com Register May 17 (Reuters) – Canada could add over a million barrels per day (bpd) of oil export......

Texas grid operator calls for power conservation as temperatures, prices soar

Reuters
An electrical substation is seen after winter weather caused electricity blackouts in Houston, Texas, U.S. February 20, 2021. REUTERS/Go Nakamura/File Photo/File Photo Register now for FREE unlimited access to Reuters.com Register HOUSTON, May 13 (Reuters) – The state of Texas’ power-grid operator on Friday called on residents to cut their......

Nine U.S. Gulf Coast refineries exceeded federal benzene levels -study

Reuters
HOUSTON, May 12 (Reuters) – Nine U.S. Gulf Coast refineries exceeded the federal regulatory action level between 2018 and 2020 for pollution from benzene, which causes cancer, according to a study by the Environmental Integrity Project (EIP) released on Thursday. The nine are among 56 U.S. refineries with high benzene......

Union seeks renewed talks with Chevron in California refinery strike

Reuters
A Chevron gas station sign is pictured at one of their retain gas stations in Cardiff, California October 9, 2013. REUTERS/Mike Blake Register now for FREE unlimited access to Reuters.com Register HOUSTON, May 3 (Reuters) – The United Steelworkers union (USW) seeks this week to renew talks with Chevron Corp......

Exxon earnings hurt by Russia exit, triples buybacks on high oil prices

Reuters
The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, December 30, 2015. REUTERS/Lucas Jackson Register now for FREE unlimited access to Reuters.com Register April 29 (Reuters) – Exxon Mobil Corp (XOM.N) doubled its first-quarter per-share profit,......

Exxon declares force majeure on Russian Sakhalin-1 operations

Reuters
The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, December 30, 2015. Standard & Poor’s Ratings Services said on April 26, 2016, it had cut Exxon Mobil Corp’s corporate credit rating to “AA+” from “AAA,” citing......

Mexico president eyes accords over energy spat as Kerry visits

Reuters
MEXICO CITY, March 31 (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Thursday his meeting with U.S. climate envoy John Kerry amid a dispute over Mexico’s efforts to its change energy laws was “friendly, necessary and beneficial”, without going into further detail. Lopez Obrador told a regular news......

Biden spurs record emergency oil release in ‘moment of peril’ for world

Reuters
The Bryan Mound Strategic Petroleum Reserve, an oil storage facility, is seen in this aerial photograph over Freeport, Texas, U.S., April 27, 2020. REUTERS/Adrees Latif Register now for FREE unlimited access to Reuters.com Register WASHINGTON, March 31 (Reuters) – President Joe Biden on Thursday launched the largest release ever from......

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