Downstream

This post was originally published on this sitePortfolio investors purchased petroleum contracts for the first time in seven weeks as traders squared up short positions ahead of a meeting of OPEC⁺ ministers to decide production policy in the second half of 2024. Hedge funds and other money managers purchased the equivalent of 21 million barrels […]

This post was originally published on this siteCALGARY, AB, June 3, 2024 /CNW/ – Enbridge Inc. (TSX: ENB) (NYSE: ENB) (“Enbridge” or the “Company”) announced today the closing of its acquisition of the Questar Gas Company (“Questar Gas”) and its related Wexpro companies (“Wexpro” and collectively with Questar Gas, “Questar”) from Dominion Energy, Inc. (“Dominion”). The Questar Gas utility

This post was originally published on this siteSaudi Arabia kicked off a secondary share sale in oil giant Aramco on Sunday, a landmark deal that could raise up to $13.1 billion in a major test of international appetite for the kingdom’s assets. The banks on the deal will take institutional orders through Thursday and will

This post was originally published on this siteGoldman Sachs said it viewed the OPEC+ meeting as bearish despite the output cuts extension, and expected downside risks to the $75-$90 Brent price range as some countries had already signaled the gradual phaseout of extra voluntary cuts. The Organization of the Petroleum Exporting Countries and its allies

This post was originally published on this siteJapan’s top city gas supplier Tokyo Gas is looking to add more U.S. natural gas assets, its president said on Monday, as it aims to expand its gas-related businesses in North America after its recent acquisition of a U.S. shale gas producer. The Japanese company paid $2.7 billion

This post was originally published on this site(Reuters) – The OPEC+ decision to extend crude oil production cuts is an acknowledgment that demand growth is still uncertain, but also that the group remains hopeful its bullish scenario is correct. The Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia, agreed at a meeting on

This post was originally published on this siteUnlock the Power of GIS in your Pipeline Management In this pre-recorded webinar Jeff Allen, Global Pipeline Practice Lead at Esri, discusses cutting-edge location intelligence strategies that are transforming traditional pipeline operations and decision-making. Learn how integrating spatial insights can significantly enhance the safety, efficiency, and growth of

This post was originally published on this site(Reuters) – U.S. oil drillers are sticking to pledges to temper spending on boosting output, keeping the world’s top crude producer on course for slower growth in 2024 in what may ease pressure on OPEC+ to make further supply cuts this weekend. The U.S. has driven growth in

This post was originally published on this siteSummary OPEC+ prolongs some cuts by one year OPEC+ to phase out other cuts very slowly Group faces rising oil stocks, tepid demand growth (Reuters) – OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to shore

This post was originally published on this siteU.S. energy firms this month cut the most oil and natural gas operating since August, even as the rig count remained unchanged this week, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future