Downstream

This post was originally published on this site(Reuters) – Oil prices climbed 1% on Wednesday as market participants anticipated a rise in demand from top importer China following Beijing’s latest plans to boost economic growth. Brent crude futures gained 75 cents, or 1.04%%, to $72.94 a barrel by 1011 GMT, while U.S. West Texas Intermediate […]

This post was originally published on this site(Reuters) – U.S. power producers have raised total generation to new highs in 2024, fuelled mainly by record natural gas-fired output alongside a sharp jump in generation from renewable sources. Natural gas plants remain the key pillar of U.S. generation, accounting for a record 42% of total power

This post was originally published on this siteBy Reuters (Reuters) – ExxonMobil  on Wednesday said annual project spending will rise to between $28 billion and $33 billion between 2026 and 2030, following the acquisition of U.S. shale producer Pioneer Natural Resources. The top U.S. oil producer laid out a five-year plan to increase earnings by $20 billion

This post was originally published on this site‘Gas is well suited for’ data centers’ 24/7 power needs: CEO Strazik is ‘cautious’ on when onshore wind will improve The head of GE Vernova Inc., which makes equipment for wind farms and gas-fired power plants, said electricity demand to run data centers is favoring the fossil fuel over

This post was originally published on this siteU.S. President-elect Donald Trump said on Tuesday that any person or company investing at least $1 billion into the U.S. “will receive fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals.” The statement, posted on his social media platform Truth Social, did

This post was originally published on this site(Reuters) – U.S. power consumption will rise to record highs in 2024 and 2025, the U.S. Energy Information Administration said in its Short Term Energy Outlook on Tuesday. EIA projected power demand will rise to 4,086 billion kilowatt-hours in 2024 and 4,165 billion kWh in 2025. That compares

This post was originally published on this site(Reuters) – U.S. natural gas production will decline in 2024 while demand will rise to a record high, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. The EIA projected that dry gas production will ease from a record 103.8 billion

This post was originally published on this site(Reuters) – U.S. net crude oil imports are forecast to fall by 20% next year to 1.9 million barrels per day, their lowest since 1971, the Energy Information Administration said on Tuesday, pointing to higher U.S. production and lower refinery demand. The EIA expects the United States to

This post was originally published on this site(Reuters) – The U.S. Department of Energy said on Tuesday it is not able to complete reviews of two liquefied natural gas projects in Louisiana until an independent regulatory body finishes its environmental assessments. The DOE said it has to wait for the Federal Energy Regulatory Commission, or

This post was originally published on this site(Reuters) – Average U.S. gasoline prices fell below $3 a gallon for the first time in over three years on Monday, extending a run of bargains at the pump for consumers who have faced soaring inflation in recent years. Fuel prices have been declining steadily since the end