Downstream

This post was originally published on this siteTexas, Louisiana and Mississippi on Monday sued the U.S. government to block the Biden administration’s proposed rule that would require the offshore oil and gas industry to provide nearly $7 billion in financial assurances to cover costs of dismantling old infrastructure. The rule, which would take effect later […]

This post was originally published on this siteSummary China May oil refinery output down 1.8% y-y Oversupply and sluggish demand remain major concerns LONDON, June 18 (Reuters) – Oil prices were stable on Tuesday, as traders awaited signs of a hoped-for summer demand boost to prop up prices even as strong supply threatens to blunt

This post was originally published on this siteBill Gates said he’s prepared to plow billions of dollars into a next-generation nuclear power plant project in Wyoming to meet growing US electricity needs. TerraPower LLC, a startup founded by Gates, broke ground for construction of its first commercial reactor last week in Wyoming, where a coal

This post was originally published on this siteTrumps tells Senate Republicans he wants drilling in region Biden canceled lease sales last year, increased conservation Donald Trump told Senate Republicans Thursday he would restart oil drilling in Alaska’s Arctic National Wildlife Refuge, reversing a move by the Biden administration to cancel leases in the frozen wilderness. “He

This post was originally published on this site(Reuters) – A U.S. judge on Monday dismissed a lawsuit Exxon Mobil  had filed against activist group Arjuna Capital after the group had agreed not to pursue future proxy filings at the company’s annual meetings. The lawsuit by the largest U.S. oil company had raised alarm among activists and

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