This post was originally published on this siteSummary Soaring refining profits set to drive record Q2 profits Boards set to boost share repurchases, maybe dividends Companies have sharply reduced debt LONDON/HOUSTON, July 21 (Reuters) – Top Western energy companies are expected to unleash billions in returns to shareholders when they announce what is set be

This post was originally published on this site(Bloomberg) The world’s oil map is being redrawn as the industry becomes increasingly intertwined with renewables, according to consultancy Wood Mackenzie Ltd. Oil majors that want to reduce their carbon footprint will have to shift their activities to energy basins where drilling rigs can be powered by renewables

This post was originally published on this siteOil declined as investors assessed signs of lackluster US gasoline demand and the return of supplies from Libya. West Texas Intermediate futures fell toward $95 a barrel. The slump came after a US report showed gasoline inventories rose more than expected last week, while stalling demand sent the

This post was originally published on this site(Bloomberg)  President Joe Biden announced plans to advance offshore wind power in the Gulf of Mexico and in Atlantic waters near the Southeast US, part of a bid to prove he’s confronting the climate crisis despite a congressional logjam on the issue. Biden unveiled the offshore wind efforts

This post was originally published on this site(Bloomberg)  The ability of Texas—America’s oil and natural gas hub—to avoid blackouts during this summer’s punishing heatwaves is hinging largely on a different source of energy: wind power. On breezy days, Texas has plenty of electricity to spare—even as demand surges to unprecedented levels. On Wednesday, for instance, power use