Downstream

This post was originally published on this siteBankruptcy judge approves settlement with contractor Zachry Other companies will finish Zachry’s work on Golden Pass plant A bankruptcy judge this past week approved a settlement between the joint venture building Exxon Mobil Corp.’s $10 billion gas export project in Texas and lead contractor Zachry Holdings Inc., allowing other […]

This post was originally published on this siteFreeport LNG, the US’s second-largest export facility, is targeting the restart of all production lines in early August, according to people with direct knowledge of the matter. The Texas plant reduced production before Hurricane Beryl made a landfall earlier this month and caused wide-spread power outages. Loadings from the liquefied

This post was originally published on this siteWoodside’s acquisition of Tellurian highlights the appeal of exporting American natural gas. Australia’s Woodside Energy Group Ltd. made a bold leap into US liquefied natural gas with its agreement to acquire Tellurian Inc. for $900 million in cash. Tellurian owns Driftwood, a proposed multibillion-dollar LNG export terminal in Louisiana. The

This post was originally published on this siteBy Reuters The U.S. Bureau of Ocean Energy Management said on Friday it is seeking competitive bids for offshore wind leases off the coast of Texas after renewable energy developer Hecate Energy Gulf Wind LLC made an unsolicited bid. The administration of President Joe Biden sees offshore wind power

This post was originally published on this siteBy John Kemp (Reuters) – U.S. crude oil inventories have depleted faster than normal over the last four weeks – squeezing hedge funds running short positions, keeping spot prices firm and the futures curve in a steep backwardation. But with most short positions now repurchased this source of support

This post was originally published on this siteBy Reuters (Reuters) – Baker Hughes  cut its outlook for spending by oil producers on Friday, citing lower drilling activity by North American companies, joining other oilfield service companies in warning about softness in the region. However, the company raised its full-year revenue and profit estimates, banking on strong

This post was originally published on this sitePower producers in the United States are becoming increasingly reliant on natural gas for generation, even as the country builds out renewable energy capacity at a record pace. Renewable energy sources have been grabbing a steadily growing share of the power mix for years, which has allowed power

This post was originally published on this site(Reuters) – Oil futures fell about 1.5% on Friday, finishing the week lower on declining Chinese demand and hopes of a Gaza ceasefire agreement that could ease Middle East tensions and accompanying supply concerns. Brent crude settled down $1.24, or 1.5%, at $81.13 a barrel. West Texas Intermediate crude

This post was originally published on this site(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row, boosting the monthly count by the most since November 2022, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count,

This post was originally published on this site(Reuters) – Oil prices were up slightly on Friday on stronger-than-expected U.S. economic data that raised investor expectations for increasing crude oil demand from the world’s largest energy consumer. But concerns about soft economic conditions in Asia’s biggest economies, China and Japan, capped gains. Brent crude futures for September