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Exelon Boosts Capex plan by $3.5 Billion, Mostly to Bolster Power Lines

texas power lines 1200x810

Major U.S. electric utility Exelon increased its four-year capital investment plan by 10% to $38 billion, with the bulk of the spending aimed at bolstering and building new transmission lines, executives said on an earnings call on Wednesday. Many U.S. power companies have revised up capex plans over the past year as the proliferation of … Read more

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Precision Drilling Announces 2024 Fourth Quarter and Year End Unaudited Financial Results

CALGARY, Alberta, Feb. 12, 2025 (GLOBE NEWSWIRE) — This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this news release. … Read more

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Shell Sees Significant LNG Growth in Near Term Under its Scenarios

MILAN, Feb 12 (Reuters) – Global demand for liquefied natural gas will see a robust rise in the next few years, while gas will likely see a more gradual dynamic and oil may peak at the beginning of the next decade, scenarios published by Shell (SHEL.L), opens new tab showed on Wednesday. The British energy … Read more

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US Crude Stockpiles Build on Ongoing Refinery Maintenance, EIA Says

(Reuters) – U.S. crude oil inventories rose last week as refinery maintenance continued, while gasoline stockpiles posted a surprise draw, the Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 4.1 million barrels to 427.9 million barrels in the week ended February 7, the EIA said, compared with analysts’ expectations in a Reuters … Read more

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North Dakota Oil Output Slips Amid Cold Weather, State Pipeline Regulator Says

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North Dakota oil output fell by an estimated 60,000-90,000 barrels per day on Tuesday due to frigid temperatures and related operational challenges, the state pipeline regulator said in a statement. North Dakota is the third-largest oil-producing state in the country, with November output totaling some 1.221 million bpd, according to the latest data from the … Read more

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Russia Braces for Oil Output Cuts as Sanctions and Drones Hit

putin 1200x810 sept 17 2022

(Reuters) – Russia may be forced to throttle back its oil output in the coming months as U.S. sanctions hamper its access to tankers to sail to Asia and Ukrainian drone attacks hobble its refineries. The United States imposed sanctions last month that targeted 180 Russian tankers while Kyiv has stepped up drone attacks to … Read more

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Oil Prices Fall on Potential Ukraine Peace Talks

pumpjack sunrise 1200x810

(Reuters) – Oil prices fell more than 1% on Thursday as a potential peace deal between Russia and Ukraine continued to exert downward pressure, along with rising crude inventories in the United States. Brent futures were down $1.04 or 1.4%, at $74.14 a barrel by 1303 GMT while U.S. West Texas Intermediate (WTI) crude dropped … Read more

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Trump Hostility to US Offshore Wind Reverberates Through Supply Chain

trump bloomberg 1200x810 nov 12 2024

Summary • Researcher now expects 25 gw of offshore wind by 2030, not 30 gw • Ship builders, steelmakers hit as industry needs fewer vessels • Italy’s Prysmian drops plan for Massachusetts cable factory • GE Vernova scraps deal to make bigger turbine near Albany, NY (Reuters) – Companies that committed to investments in U.S. … Read more

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Hedge Fund Elliott Commands Attention in C-suites as Relentless Activist

When Elliott Investment Management buys into a company to agitate for change, bankers and lawyers who have faced the hedge fund say executives can expect a strong view on their shortcomings, backed by meticulous research and financial firepower. Now, storied oil giant BP is in Elliott’s sights. The investment firm, which manages $70 billion, has … Read more

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Elliott Builds $5 Billion Stake in BP, Financial Times Reports

 Activist investor Elliott Management has disclosed a near 5% stake of about 3.8 billion pounds ($4.75 billion) in BP, making it the oil company’s third-largest shareholder, the Financial Times reported on Thursday, citing people close to the matter. Elliott is trying to push the British oil company to cut spending on renewables and make big … Read more

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Chevron to Lay Off 15% to 20% of Global Workforce

Chevron Gas Station

HOUSTON, Feb 12 (Reuters) – Chevron (CVX.N), opens new tab will lay off 15% to 20% of its global workforce by the end of 2026, the U.S. oil company said on Wednesday as it seeks to cut costs, simplify its business, and complete a major acquisition. The No. 2 U.S. oil producer has faced production … Read more

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Ukraine Calls For Help on Gas Imports After Russian Missile Strikes

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(Reuters) – Ukraine called on its allies on Wednesday to help it import more natural gas as it moved to increase gas imports by a third to 22.6 million cubic meters following a series of Russian missile attacks on Ukrainian gas facilities. The call came after natural gas production sites owned by Ukraine’s state-run energy … Read more

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OPEC Sticks to 2025, 2026 Global Oil Demand Growth Forecasts

(Reuters) – OPEC on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2025, saying air and road travel would support consumption and potential trade tariffs were not expected to impact economic growth. The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise … Read more

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Mexico to Boost Crude Reserves to Meet at Least a Decade of Demand, Pemex CEO Says

(Reuters) – Mexico plans to boost its crude oil reserves to ensure it has enough for at least a decade of consumption, the chief executive officer of state energy company Pemex, Victor Rodriguez, said on Wednesday. Pemex has 12 strategic projects that will account for 61% of this hydrocarbon production, Rodriguez added. Speaking alongside Mexican … Read more

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Top Trump Official in Kyiv to Discuss Deal on Minerals, Energy

ukraine's president volodymyr zelenskiy and u.s. secretary of the treasury scott bessent shake hands in kyiv 1200x810

By Tom Balmforth U.S. treasury secretary is first Trump official in Kyiv Talks to broach deal on minerals, energy, state firms Ukraine wants to win Trump’s backing for war’s endgame Three-year-old war entering fraught diplomatic phase KYIV, Feb 12 (Reuters) – U.S. Treasury Secretary Scott Bessent visited Kyiv on Wednesday to discuss a critical minerals … Read more

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India Gas Demand to Surge by 2030, Doubling LNG Imports, Says IEA

lng tanker being loaded 1200x810

(Reuters) – India’s natural gas consumption is set to jump 60% between 2023 and 2030, doubling the country’s need for liquefied natural gas imports, as domestic output is expected to grow much more slowly than demand, the International Energy Agency said on Tuesday. Rapid urbanisation and industrialisation are set to transform the energy market in … Read more

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Japan’s JERA Sees Rising Competition for US LNG as Asia, Europe Demand Grow

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(Reuters) – Japan’s top power generator JERA expects competition for U.S. liquefied natural gas (LNG) to increase as demand from Asia and Europe rises, its CEO said on Wednesday. “There are many potential buyers. Asian and European buyers are really interested in U.S. energy. So, there are many competitors,” JERA Asia CEO Izumi Kai told … Read more

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DUC Hunt: What the 2025 drawdown means

Enverus Logo

EIA discrepancy could impact production forecasts and capital efficiency CALGARY, Alberta (Feb. 12, 2025) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, is releasing a report that analyzes recent inventories of drilling uncompleted wells (DUCs) and the implications for 2025 budgets. … Read more

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US Power Use to Reach Record Highs in 2025 and 2026, EIA Says

(Reuters) – U.S. power consumption will rise to record highs in 2025 and 2026, the U.S. Energy Information Administration said in its Short Term Energy Outlook on Tuesday. With growing demand from data centers dedicated to artificial intelligence and cryptocurrency and with homes and businesses using more electricity for heat and transportation, EIA projected power … Read more

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EIA Raises US Oil Production Forecast for 2025

pumpjacks midland texas 1200x810

(Reuters) – U.S. oil production is poised to set a larger record this year than prior estimates, the U.S. Energy Information Administration (EIA) said on Tuesday in its Short-Term Energy Outlook report. U.S. President Donald Trump has vowed to maximize U.S. oil production even as energy executives have held steadfast on prioritizing capital discipline over … Read more

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US NatGas Output and Demand to Hit Record Highs in 2025, EIA Says

natural gas stove 1200x810

(Reuters) – U.S. natural gas output and demand will both rise to record highs in 2025, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO) on Tuesday. EIA projected dry gas production will rise from 103.1 billion cubic feet per day (bcfd) in 2024 to 104.6 bcfd in 2025 and 107.3 … Read more

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Oil Prices Fall on Rising US Crude Stocks, Hawkish Fed Comments

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Summary • Brent, WTI futures both fall • U.S. crude stockpiles rise by 9.4 million barrels, sources cite API data • Fed’s Powell signals slower rate cuts (Reuters) – Oil prices fell 1% on Wednesday, ending three days of gains, as industry sources pointed to rising U.S. crude stockpiles and hawkish remarks from Fed Chair … Read more

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Oilfield Services Company SLB Reorganizes, Expects More Job Cuts, Source Says

slb headquaters 1200x810

(Reuters) – Top oilfield services provider SLB is reorganizing certain functions within its business and continuing to reduce its workforce, according to a source familiar with the matter and an internal email seen by Reuters. As part of its reorganization, SLB will create a new performance function, led by a new chief performance officer, it … Read more

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Chevron Struggles to Replace Oil, Gas Reserves Amid Hess Deal Limbo

chevron hess feb 11 2025 1200x810

Summary • Chevron’s reserve replacement ratio declines to 45%, raising investor concerns • Hess acquisition would boost Chevron’s prospects with Guyana oilfield stake • Exxon and CNOOC challenged Chevron’s bid for Hess in court (Reuters) – Chevron’s oil and gas reserves have fallen to the lowest point in at least a decade, highlighting the importance … Read more

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Evolution Petroleum Reports Fiscal Second Quarter 2025 Results and Declares Quarterly Cash Dividend for Fiscal Third Quarter

– Fiscal Q2 Production Up 10% Y/Y to 6,935 Average BOEPD – – Declares Quarterly Dividend of $0.12 for Fiscal Third Quarter 2025 – HOUSTON, Feb. 11, 2025 (GLOBE NEWSWIRE) — Evolution Petroleum Corporation (NYSE American: EPM) (“Evolution” or the “Company”) today announced its financial and operating results for its fiscal second quarter ended December … Read more

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CW Petroleum Corp (OTCQB: CWPE) Reports Revenues for Q4-2024, Year-End

Katy, Texas, Feb. 11, 2025 (GLOBE NEWSWIRE) — CW Petroleum Corp (OTCQB: CWPE) (the “Company”), a leading provider of Specialty Renewable and Hydrocarbon Motor Fuels, today announces to its investors and future investors unaudited financial results for the fourth quarter ended December 31, 2024, Year-End 2024. Key Financial Highlights for Three Months Ended December 31, … Read more

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Entergy Texas partners with Kinder Morgan, Golden Pass LNG to fuel Southeast Texas growth

kinder morgan office sign 1200x810

Fuel supply agreement strengthens reliability, lowers costs, and powers growth THE WOODLANDS, Texas, Feb. 11, 2025 /PRNewswire/ — Entergy Texas reached a landmark transportation agreement with Kinder Morgan to secure natural gas supply, supporting the rapid industrial, commercial and residential growth in the region. The arrangement, which was developed in collaboration with Golden Pass LNG, is … Read more

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Texas Industry Urges EPA to Allow State to Approve Carbon Storage Projects

carbon capture from shell 1200x810 jan 26 2022

(Reuters) – Texas oil, gas and industrial groups on Tuesday asked the new EPA administrator to speed up Texas’ request to approve carbon capture and storage projects instead of the federal government, to help boost private investment and unleash capture technology. The six groups, including the Texas Oil and Gas Association and the Texas Association … Read more

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BP Pledges Strategy Reset as Annual Profit Falls by a Third

bp 1200x810 feb 2023

By Arunima Kumar BP’s annual profit drops to $8.9 bln Elliott’s stake raises pressure for board and strategy changes Q4 profit fell 61%, weakest since 2020 Lower refining margins hit Q4; weak margins expected ahead Feb 11 (Reuters) – BP (BP.L), opens new tab CEO Murray Auchincloss pledged on Tuesday to fundamentally reset the company’s … Read more

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Activist Elliott Builds Over $2.5 Billion Stake in Phillips 66, WSJ Reports

phillips 66 refinery 1200x810

Activist Elliott Investment Management has built an over $2.5 billion stake in U.S. oil refiner Phillips 66 and plans to push for operational changes to boost its stock price, the Wall Street Journal reported on Monday. Elliott plans to push Phillips 66 to sell or spin off its big midstream business as it plans to … Read more

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Asian Buyers Look to Step Up US LNG Imports to Fend Off Trump Tariffs

lng tanker with american flag 1200x810

At least six Asian economies have expressed interest in buying liquefied natural gas (LNG) to narrow their trade deficit with the United States and fend off tariffs, while others look to expand and diversify supplies. Companies in the U.S., the world’s largest exporter of LNG, are pushing ahead with projects for new or expanded export … Read more

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New U.S. Metals Tariffs to Drive up Oilfield Equipment Costs, ChampionX Exec Says

ChampionX expects new U.S. import tariffs on steel and aluminium to drive up equipment costs for oilfield service firms, a company official said on Tuesday. U.S. President Donald Trump raised tariffs on steel and aluminium imports on Monday to a flat 25% “without exceptions or exemptions” in a move he hopes will aid the struggling … Read more

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Recent Cold Snap Lead to Fourth-Largest NatGas Storage Withdrawal, US EIA Says

natural gas stove 1200x810

(Reuters) – The United States saw the fourth-largest weekly withdrawal from natural gas storage during mid-January as colder-than-normal temperatures boosted consumption, the U.S. Energy Information Administration (EIA) said on Monday. During the week ending January 24, 2025, stocks fell by 321 billion cubic feet (bcf), which was nearly 70% more than the five-year (2020–24) average … Read more

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Why Trump Wants Higher Tariffs on Steel and Aluminum

Steel Pipes

By Bloomberg News As he tries to reshape US trade ties with the rest of the world, President Donald Trump has unveiled a new tariff threat: He’s pledged to impose a 25% levy on US imports of steel and aluminum, which were valued at almost $50 billion in 2024. While the move is aimed at strengthening domestic … Read more

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Where Does the U.S. Get Its Steel and Aluminum From?

Steel Pipes

(Reuters) – U.S. President Donald Trump said on Sunday he will introduce 25% tariffs on all steel and aluminum imports into the United States, on top of existing metals duties, in another major escalation of his trade policy overhaul. Here’s a summary of the major trade partners it will affect. Steel Roughly a quarter of all … Read more

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Oil Climbs on Supply Worries, Trump Tariffs Check Gains

pumpjack with rainbow jan 2025 1200x810

Summary • Brent, WTI up 0.7% after near 2% rise in prior session • Trump imposes 25% import tariffs on steel, aluminium • Fed to wait until next quarter before rate cut, per Reuters poll LONDON, Feb 11 (Reuters) – Oil prices extended gains on Tuesday amid concerns over Russian and Iranian oil supply and … Read more

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Energy Transfer to Supply Natural Gas to AI Data Center in Texas

energy transfer building 1200x810

Oasis Pipeline will provide gas to CloudBurst Texas campus It’s the pipeline company’s first direct-supply deal in AI Pipeline operator Energy Transfer LP will provide natural gas directly to CloudBurst Data Centers, Inc. as companies prepare for an expected boom in power demand from artificial intelligence. Energy Transfer’s Oasis Pipeline, LP, will provide as much as 450,000 million … Read more

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OPEC Takes Long-Term View of Global Oil Markets, Aims for Stability

(Reuters) – Decisions made by oil producer group OPEC take a long-term view of the global markets and are aimed at providing price stability, Secretary General Haitham Al Ghais said at the India Energy Week conference on Tuesday. The comments came after U.S. President Donald Trump repeatedly called on the producer group to increase oil … Read more

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Venture Global IPO Shows Limits of Trump Bump

venture global lng 1200x810

LNG company’s trading debut flopped despite coming on the heels of the president’s return to power.   Bloomberg News Venture Global Inc.’s belly flop of an IPO isn’t just a setback for the liquefied natural gas-exporting upstart. It may be an early indication of the limits of Wall Street’s enthusiasm for President Donald Trump’s grand energy ambitions. … Read more

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COMMENTARY: Weaponizing Canadian Oil Would Rattle Trump

Reducing crude output has the potential to inflict real pain on US refiners and consumers. By Liam Denning Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column. Canada is in that awkward position where a … Read more

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Trump’s Renewables Permit Flip-Flop Unsettles Sector

Developers fear the US president may seek to block solar and wind projects. Renewable-energy developers knew US President Donald Trump preferred oil and gas to solar and wind — and long opposed offshore turbines. But they were hoping he wouldn’t throw roadblocks in front of other clean-power projects. After the last week, they’re not so … Read more

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Plains All American Reports Fourth-Quarter and Full-Year 2024 Results; Provides Update on Efficient Growth Initiatives and Announces 2025 Guidance

plains all american 1200x810

HOUSTON, Feb. 07, 2025 (GLOBE NEWSWIRE) — Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) today reported fourth-quarter and full-year 2024 results, announced 2025 guidance and provided the following highlights: 2024 Results Fourth-quarter and full-year 2024 Net income attributable to PAA of $36 million and $772 million, respectively, and 2024 Net … Read more

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