Downstream

This post was originally published on this site China's national oil majors are in advanced talks with Qatar to invest in the North Field East expansion of the world's largest LNG project and buy the fuel under long-term contracts, Reuters reported on Friday.

This post was originally published on this siteJune 17 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row as crude production returned to pre-pandemic levels and President Joe Biden slammed oil producers for profiting from sky-high prices instead of boosting output. The oil and

This post was originally published on this siteU.S. natural gas futures slid about 2% on Friday on forecasts for lower demand this week and next and expectations the extended shutdown of the Freeport liquefied natural gas (LNG) export plant in Texas would allow utilities to quickly rebuild low U.S. gas stockpiles. That price decline came

This post was originally published on this siteby Aaron Foyer Battery Series: Courtesy of ENERGYminute   See more articles and infographics from ENERGYminute HERE As countries move towards more intermittent sources power like wind and solar there is a greater need for energy storage, especially without grid-scale hydropower dams, nuclear, coal or natural gas. During the night,

This post was originally published on this siteWASHINGTON, June 16 (Reuters) – U.S. Energy Secretary Jennifer Granholm called an emergency meeting with refining executives for next week, a department spokesperson said on Thursday, as tensions between the Biden administration and Big Oil mount over soaring gasoline prices. The planned talks come as President Joe Biden,

This post was originally published on this siteWASHINGTON, June 17 (Reuters) – As the Biden administration contemplates expanding punitive measures on Russia for its invasion of Ukraine, a big hurdle lies closer to home: the American consumer. U.S. drivers are embarking on summer vacations with gasoline prices averaging more than $5 a gallon for the

This post was originally published on this site(Bloomberg) Oil markets are tighter than Goldman Sachs Group Inc.’s top commodity researcher had expected just a few months ago. Brent crude is trading near $120 a barrel, while West Texas Intermediate recently touched its highest level since March. That came as the oil market grapples with a

This post was originally published on this site(Bloomberg) Saudi Arabia’s energy minister traveled to Russia in a show of support for the fellow OPEC+ member just as the US encourages the cartel to pump more oil and isolate Moscow. Prince Abdulaziz bin Salman met Deputy Prime Minister Alexander Novak on Thursday at the St. Petersburg International

This post was originally published on this siteOil is heading for its first weekly decline since April after a period of choppy trading as investors weigh the prospect of further monetary tightening from central banks to curb rampant inflation. West Texas Intermediate was trading near $118 and is on track for a 1.6% decline this

This post was originally published on this site(Bloomberg) Chevron Corp. plans to spend about $2.5 billion building up its hydrogen business this decade as the oil major accelerates investment in low-carbon technologies. Chevron will develop both green and blue hydrogen, said Austin Knight, vice president of hydrogen at the company’s New Energies unit. The former