Downstream

This post was originally published on this siteMar 4, 2022 (Bloomberg) Elon Musk says more fossil fuel production is needed now, even if it’s bad for his electric car company, Tesla Inc. “Hate to say it, but we need to increase oil & gas output immediately,” the billionaire tweeted Saturday, as Russia’s invasion of Ukraine chokes off […]

This post was originally published on this siteMar 4, 2022 (Bloomberg) Berkshire Hathaway Inc., the conglomerate run by billionaire Warren Buffett, boosted its investment in energy giant Occidental Petroleum Corp. with the purchase of almost 30 million shares. The stock was acquired this year, and brings Berkshire’s total Occidental holding to 113.7 million shares, according to

This post was originally published on this siteDrilling rigs operate at sunset in Midland, Texas, U.S., February 13, 2019. REUTERS/Nick Oxford March 4 (Reuters) – U.S. energy firms this week cut the number oil rigs even as Russia’s invasion of Ukraine drove crude prices to their highest since 2008. U.S. oil rigs fell three to

This post was originally published on this siteBy Lisa Mascaro in Washington WASHINGTON (AP) — Amid the escalating war in Ukraine, House Speaker Nancy Pelosi said Thursday she supports banning Russian oil imports to the U.S., a hefty nod that could strengthen President Joe Biden’s hand as global allies seek to isolate Russian President Vladimir Putin’s regime. Biden has been

This post was originally published on this site LNG export capacity in the United States has grown rapidly since the Lower 48 states first began exporting LNG in February 2016. In 2020, the United States became the world’s third-largest LNG exporter.

This post was originally published on this siteLONDON, March 4 (Reuters) – Britain will look to target Russia’s energy sector in future rounds of sanctions, a move the government has so far resisted amid warnings this could push up energy bills. Since Russia’s Feb. 24 invasion of Ukraine, Britain has imposed a ban on Russia

This post was originally published on this siteLONDON, March 3 (Reuters) – Europe’s gas futures prices for next winter are surging to a record high as traders anticipate the energy shortage will last into 2023, putting financial pressure on households and businesses across the region. The risk of shortages this winter has been eliminated thanks

This post was originally published on this siteSummary Extra supplies from OPEC+, others not enough Oil prices hit 10-year high on March 3 For a table of crude price forecasts, click March 4 (Reuters) – A rally that has driven oil prices to their highest in almost a decade shows no signs of abating, as

This post was originally published on this siteMar 4, 2022 (Bloomberg) Oil climbed, ending a week in which it swung by more than $20 a barrel after Russia’s invasion of Ukraine roiled global markets and fueled fears of a supply crunch. Futures in New York and London were up more than 2% Friday. The global

This post was originally published on this siteMar 4, 2022 (Bloomberg) The prospect of restrictions on Russian energy exports could send oil prices above $200 per barrel, according to Westbeck Capital Management.The London-based hedge fund is among a cadre of commodities-focused funds betting on an extended rally for crude after Russia’s invasion of Ukraine, even as a potential