Downstream

(Reuters) – The Biden administration on Monday issued an offshore wind lease to the state of Maine for a small project that will demonstrate floating turbine technology off the U.S. East Coast. WHY IT’S IMPORTANT U.S. President Joe Biden has championed offshore wind as a key pillar of his climate change agenda. His Interior Department […]

(Reuters) – Oil prices edged lower on Tuesday as Israel accepting a proposal to tackle disagreements blocking a ceasefire deal in Gaza eased supply concerns and China’s economic weakness weighed on the demand outlook. Brent crude was down 80 cents, or 1.03%, at $76.86 per barrel as of 0820 GMT. Front month U.S. West Texas

(Reuters) – Canada’s expanded Trans Mountain (TMX) oil pipeline, which commenced commercial operations in May, so far has had little impact on crude costs at refineries on the U.S. West Coast, according to companies operating there. The expansion, which tripled pipeline capacity from Alberta to Canada’s Pacific Coast to 890,000 barrels per day (bpd), increased the access

(Reuters) – Dealmaking activity in the oil and gas industry increased 57% last year as energy companies boosted development spending, driven by higher cash flows from profits in prior years, according to a report released on Tuesday. Top energy companies spent $49.2 billion on mergers and acquisitions in 2023, up from $31.4 billion in 2022,

Establishes QB Energy to Own and Operate the Piceance Assets Existing Quantum Portfolio Company KODA Resources to Own and Operate the Uinta Assets HOUSTON, Aug. 19, 2024 (GLOBE NEWSWIRE) — Quantum Capital Group (“Quantum”) and Caerus Oil and Gas (“Caerus”) today announced the closing of a transaction under which Quantum, via two separate portfolio companies,

(Reuters) U.S. natural gas futures jumped about 5% to a four-week high on Monday on a decline in output and forecasts for hotter weather next week than previously expected that should boost the amount of gas power generators burn to keep air conditioners humming. Front-month gas futures for September delivery on the New York Mercantile

(Reuters) – APA Corp is exploring the sale of oil and gas drilling properties spread across parts of the Permian basin of Texas and New Mexico, in a deal that could be valued at about $1 billion, people familiar with the matter told Reuters. APA, which owns the properties through its Apache subsidiary, is working

More From Irina Slav We humans are creatures of habit. Actually, all animals, I believe, are creatures of habit, only we have more of these because of those big brains of ours. Here on this Substack, for instance, we — and I mean the collective we, not the royal we, obviously — are in the

  Achieved $3 billion in principal debt reduction in the third quarter of 2024 Public offering of a portion of Occidental’s common units of Western Midstream Partners, LP, raised $700 million, bringing total 2024 year-to-date closed or announced divestments to approximately $1.7 billion Following close of the previously announced Delaware Basin Barilla Draw divestiture, which

(Reuters) – Russia has complained to Germany over its investigation into the 2022 explosions that ruptured the Nord Stream gas pipelines, the RIA state news agency reported on Monday, after a key suspect escaped arrest in Poland. German media reported last week that German prosecutors had identified a Ukrainian diving instructor as a suspect in the Nord