Downstream

This post was originally published on this siteJul 29, 2022 (Bloomberg)  Oil headed for a weekly increase on signs of tight physical supply, but remained down this month amid persisting fears of economic slowdown. West Texas Intermediate futures rose above $98 a barrel, bringing this week’s gain to about 4%. Prices are more likely to […]

This post was originally published on this siteJul 29, 2022 (Bloomberg) Exxon Mobil Corp. and Chevron Corp. posted their highest-ever profits, reaping the rewards from surging commodity prices amid supply disruptions and rising demand. Exxon, which surpassed its previous quarterly profit record by more than $3 billion, warned Friday that global energy supplies will remain tight

This post was originally published on this siteJuly 28, 2022 HOUSTON, July 28, 2022 (GLOBE NEWSWIRE) — Dril-Quip, Inc. (NYSE: DRQ), (the “Company” or “Dril-Quip”) today reported operational and financial results for the second quarter of 2022. Results for the second quarter of 2022 included: Revenue of $94.0 million for the second quarter of 2022,

This post was originally published on this siteLONDON, July 28 (Reuters) – OPEC and its allies will consider keeping oil output unchanged for September when they meet next week, despite calls from the United States for more supply, although a modest output increase is also likely to be discussed, eight sources said. The Organization of

This post was originally published on this siteJuly 28 (Reuters) – Demand for transportation fuels remains strong despite mixed signals from inventory data collected by the U.S. Energy Information Administration (EIA), U.S. fuelmakers said on Thursday. Fears that the U.S. economy is heading into a recession have sent crude oil prices lower as recessions are

This post was originally published on this siteDENVER, July 28 (Reuters) – The U.S. Department of Energy is planning up to a $165 million new investment in a geothermal power initiative that would utilize expertise from the oil and gas industry to unlock energy resources and move away from fossil fuels. Geothermal energy, which taps

This post was originally published on this site(Bloomberg) Senator Joe Manchin said he resurrected negotiations on a tax, energy and climate bill that had formed the core of President Joe Biden’s economic agenda, in part, to target corporations that aren’t paying taxes. Manchin, a key Democratic vote in the evenly divided Senate, restarted talks with Senate

This post was originally published on this siteJul 28, 2022 (Bloomberg) Treasury Secretary Janet Yellen said the US economy is seeing an economic slowdown — something vital to bringing down inflation — but isn’t currently in a recession. “We do see a significant slowdown in growth,” Yellen said at a press conference on Thursday. But a

This post was originally published on this site(Bloomberg) After West Virginia Senator Joe Manchin and Senate Majority Leader Chuck Schumer last night introduced a major tax, energy and climate package, experts who specialize in measuring the relationship between policy and climate emissions affirmed the Democrats’ estimate that it would cut US carbon dioxide emissions 40% by 2030.

This post was originally published on this siteJuly 28, 2022 U.S. natural gas futures eased about 1% on Thursday on forecasts for less hot weather through mid-August than previously expected and an increase in output to near-record highs. That small decline came despite a smaller-than-expected storage build last week when power generators burned lots of