Downstream

This post was originally published on this siteHOUSTON, Dec 1 (Reuters) – Exxon Mobil (XOM.N) on Wednesday set annual capital spending through 2027 at $20 billion to $25 billion, allocating money to low-carbon projects and extending its previously projected spending rate for two years. The top U.S. energy producer slashed costs after a historic $22.4 billion […]

This post was originally published on this site(Bloomberg) The oil and gas market may be tightening amid historically low investment levels, but that won’t change Royal Dutch Shell Plc’s strategy to shift from fossil fuels. Shell is one of many European majors that have pledged to shrink its traditional hydrocarbon business, while increasing investments in clean

This post was originally published on this siteNov 30, 2021 (Bloomberg) The U.S. is trying to re-focus its energy relationship with top Middle East OPEC countries, notably Saudi Arabia, after a period of tension between Washington and Riyadh over high oil prices. Amos Hochstein, the top American energy diplomat, held meetings this week with officials in

This post was originally published on this siteWASHINGTON — Michigan Gov. Gretchen Whitmer has abruptly abandoned her federal court case aimed at shutting down the cross-border Line 5 pipeline. Instead, Attorney General Dana Nessel says Whitmer will concentrate the government’s efforts on a long-standing state court action against pipeline owner Enbridge Inc. that was originally

This post was originally published on this siteNov 30, 2021 (Bloomberg) Shale drillers’ newfound commitment to production discipline appears to be paying off as crude plunges toward a bear market. While West Texas Intermediate crude is poised for the biggest monthly loss since the beginning of the coronovirus pandemic, its collapse isn’t dragging down equities the

This post was originally published on this siteNov 30, 2021 (Bloomberg) Texas’s top oil and gas regulator voted Tuesday to more clearly define who’ll be at the top of the list to keep receiving electricity during severe winter weather, closing an earlier draft loophole that critics said would’ve let any operator pay just $150 to opt-out of expensive upgrades.

This post was originally published on this siteDec 1, 2021 (Bloomberg) Oil rebounded from another sharp drop as OPEC ministers prepared to meet amid booming volatility. West Texas Intermediate rallied as much as 4.6% after shedding almost $4 on Tuesday. That selloff was driven by escalating concerns over the impact on demand of the omicron virus

This post was originally published on this site(Bloomberg) Stay on top of the revolutions reshaping the auto world — from EVs to self-driving technology — by signing up for Hyperdrive’s newsletter here. Elon Musk tweeted early this week that he will be on Tesla’s next earnings call in January and provide an “updated product roadmap.” He’ll also talk about this year’s

This post was originally published on this site(Bloomberg) President Joe Biden didn’t mince words as he blamed the oil industry for gasoline prices running at a seven-year high. “Gas supply companies are paying less and making a lot more,” he said in televised remarks from the White House last week. “That’s unacceptable.”Within minutes, the oil

This post was originally published on this siteNovember 30, 2021 MIDLAND, Texas, Nov. 30, 2021 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”) announced today a series of leadership changes. Russell Pantermuehl, currently Executive Vice President and Chief Engineer, will retire from his current role at the end of 2021 after having worked at