Downstream

This post was originally published on this siteSome of Colonial Pipeline’s owners are exploring divesting their stakes, hoping they can fetch prices that would value the largest U.S. fuel transportation system in excess of $10 billion, according to people familiar with the matter. Growing U.S. energy consumption has raised demand for pipeline capacity. Any deal […]

This post was originally published on this siteVenezuela’s National Assembly on Monday began discussing a proposal to extend through 2047 a contract between state oil company PDVSA and U.S. company Chevron to operate a joint venture in the country’s largest producing area. PDVSA and Chevron have four joint ventures in Venezuela that are producing some

This post was originally published on this siteA new presentation from the Legislative Finance Committee reported a revenue of $15.2 billion from the extractive industry to New Mexico in fiscal year 2023. Land income generated $8.6 billion, while taxes generated $6.6 billion. By George Sharpe Vermont just passed a law intended to “fine” oil and

This post was originally published on this siteBy Clyde Russell (Reuters) – The world’s biggest crude importer has had a soft start to the year. China added more than 1 million barrels per day (bpd) of crude oil to stockpiles in May as soft imports were outweighed by even weaker refinery processing volumes. A total of

This post was originally published on this site(Reuters) – Japan, a major coal and liquefied natural gas (LNG) buyer, could be energy-independent by 2060 thanks to expansion of solar and wind power together with storage batteries, said Jarand Rystad, chief executive of the Rystad Energy consultancy. Japan imports most of its energy resources, with the

This post was originally published on this site(Reuters) – More than 800 coal-fired power plants in emerging countries could be decommissioned and profitably replaced by cleaner solar energy starting from the end of the decade, research on Monday showed. Though only a tenth of existing coal plants are scheduled to shut down by 2030, more

This post was originally published on this siteSummary China’s factory output disappoints U.S. consumer sentiment fell to seven-month low in June Oil’s gain last week not fully convincing, PVM analyst says Reuters – Oil was steady on Monday after Chinese economic data underscoring a bumpy recovery for the world’s biggest crude importer offset hopes for

This post was originally published on this siteThe Biden administration is ready to release more oil from the U.S. strategic stockpile to stop any jump in petrol prices this summer, the Financial Times reported on Monday. Senior Biden adviser Amos Hochstein told the newspaper that oil prices are “still too high for many Americans” and

This post was originally published on this site(Reuters) – The U.S. is as many as 15 years behind China on developing high-tech nuclear power as Beijing’s state-backed technology approach and extensive financing give it the edge, a report said on Monday. China has 27 nuclear reactors under construction with average construction timelines of about seven

This post was originally published on this siteNatural Gas Transmission Line Enters Service to Meet Public Demand and Promote the National Interest CANONSBURG, Pa.–(BUSINESS WIRE)–The Mountain Valley Pipeline (MVP) entered service today after satisfying all applicable legal and regulatory requirements, including all applicable in-service conditions of the U.S. Pipeline and Hazardous Materials Safety Administration’s Consent