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Oil Settles Lower, Supply Worries Ease on Hopes for Ukraine Peace Deal

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• US reciprocal tariff recommendations expected in April • Ukraine peace talks could pave way for Russia sanctions easing • US can apply maximum economic pressure on Iran, Treasury Secretary says • US oil and natural gas rig count rose for a third week in a row NEW YORK, Feb 14 (Reuters) – Oil prices … Read more

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ConocoPhillips Receives Exemptive Relief From Canadian Securities Regulatory Authorities Regarding Future Canadian Filings

HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) (the “Company”) announced today that the Company has received exemptive relief from the applicable Canadian securities regulatory authorities regarding future filing requirements. The Company became a reporting issuer for Canadian securities law purposes by virtue of the acquisition of Marathon Oil Corporation in November 2024, which made the Company subject to Canadian continuous disclosure … Read more

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US Senators Reintroduce Bill to Allow Year-Round, Nationwide E15 Sales

u.s. capitol

By Stephanie Kelly NEW YORK, Feb 13 (Reuters) – U.S. senators reintroduced a bipartisan bill on Thursday that would allow nationwide sales of gasoline with a higher blend of ethanol year-round, a plan that has the support of a leading oil trade group. Senator Deb Fischer, a Republican from Nebraska, introduced the bill with senators … Read more

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Soros to Slim Are Plowing Money Into US Shale Oil as Private Equity Retreats

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Ultra-rich families are flocking to the industry, lured by more stable returns after years of boom-and-bust cycles. Oil rigs in the Permian Basin. Photographer: Sergio Flores/Bloomberg By David Wethe and Benjamin Stupples Once a relatively rare presence in the US oil industry, firms overseeing the assets of ultra-rich families — including the billionaire dynasties of … Read more

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Duke Energy Removes Climate Language as It Builds More Gas Plants

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Company drops reference to emissions goals in earnings release Demand for electricity is surging on data centers, AI boom Duke Energy Corp., one of the biggest US power providers, removed a mention of climate targets in its latest earnings release as the company builds more natural gas plants and reconsiders its coal plans. Duke said … Read more

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Oilfield Services Firm SLB Names New Chief Strategy, Performance Officer

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(Reuters) – Oilfield services provider SLB has named new chief strategy and performance officers, according to a company memo seen by Reuters, the latest steps in a larger reorganization of its global structure. Aparna Raman has been appointed chief strategy and marketing officer, the memo said, effective March 1. Raman was most recently president of … Read more

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Sweeping US Energy Department Layoffs Hit Offices of Loans, Nuclear Security, Sources Say

By Timothy Gardner and Valerie Volcovici Layoffs hit nuclear offices in security and Cold War cleanup Some NNSA firings were rescinded, essentials can stay -source Loan Programs Office loses 45 workers, grid office 18 DOE has about 14,000 employees, 95,000 contractors WASHINGTON, Feb 14 (Reuters) – The administration of U.S. President Donald Trump has laid … Read more

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US Drillers Add Oil and Gas Rigs for Third Week in a Row – Baker Hughes

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(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a third week in a row for the first time since December 2023, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by two … Read more

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Trump Approves LNG Exports, Creates Energy Council to Boost US Oil, Gas

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By Jarrett Renshaw and Timothy Gardner WASHINGTON, Feb 14 (Reuters) – President Donald Trump’s administration said on Friday it has granted a liquefied natural gas export license to Commonwealth LNG in Louisiana, the first approval of exports of the resource after former President Joe Biden paused them early last year. The exports are approved to … Read more

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Russia Seen Struggling to Reach its LNG Targets, Experts Say

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(Reuters) – Exports of Russia’s liquefied natural gas (LNG) will likely not exceed 67 million metric tons by 2030, falling far short of its 100 million target due to international sanctions, experts said at an industry conference on Friday. Russia has focused on development of LNG, which could be delivered by sea tankers, as its … Read more

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Diamondback in Talks to Buy Double Eagle for More Than $5 billion, WSJ Reports

(Reuters) – Diamondback Energy is in talks to buy EnCap-backed Double Eagle, a big West Texas energy producer, for more than $5 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter. Last year, Reuters reported that Double Eagle was exploring a sale of its Permian Basin-based producer in a deal … Read more

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Pipeline Company Enbridge Reports $493 Million Q4 Profit

Enbridge Inc. reported a profit attributable to common shareholders of $493 million in its fourth quarter, down from $1.73 billion a year earlier. The pipeline company says the profit amounted to 23 cents per share for the quarter ended Dec. 31, down from 81 cents per share in the last three months of 2023. On … Read more

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Latest US Sanctions on Russia Throw Global Oil Trade Into Disarray

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Tightened U.S. sanctions on Moscow have disrupted a roaring trade in discounted Russian oil to China and India, reviving demand for Middle Eastern and African crudes, roiling shipping markets and driving up oil prices. Washington’s January 10 sanctions targeted tankers carrying Russian oil in a push to more effectively limit Moscow’s oil revenue, the aim … Read more

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Russia to be ‘Reintegrated’ Into World Economy if War in Ukraine Ends, Orban Says

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Russia will be “reintegrated” into the world economy and the European energy system once a peace deal is achieved and the war ends in Ukraine, Prime Minister Viktor Orban told state radio on Friday. “If the U.S. president comes and creates peace, there is a deal, I think Russia will be reintegrated into the world … Read more

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US NatGas Prices Climb 4% to Two-Week High on Rising LNG Flows, Cold Weather

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(Reuters) – U.S. natural gas futures climbed about 4% to a two-week high on Thursday on rising flows to liquefied natural gas (LNG) export plants, a drop in daily output and forecasts for cold weather and higher demand over the next two weeks than previously expected. Prices rose despite forecasts for the return of mild … Read more

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Trump Says India Agreed to Purchase More US Oil and Gas

FILE PHOTO A logo of Indian Oil is picture outside a fuel station in New Delhi, India August 29, 2016. REUTERS/Adnan Abidi/File Photo

 President Donald Trump said on Thursday the U.S. and India have struck an agreement that includes India importing more U.S. oil and gas to shrink the trade deficit between the two countries. Trump made the comments after a bilateral meeting at the White House with India’s Prime Minister Narendra Modi. (Reporting By Jarrett Renshaw; Editing … Read more

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Trump’s Plans to Boost LNG Will Help India’s Buyers, Gail Says

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More fuel in the market seen moderating sky-high prices The company will revive effort to invest in a US export plant By Stephen Stapczynski and Rakesh Sharma Gail India Ltd., one of the country’s top liquefied natural gas buyers, expects US President Donald Trump’s goal of increasing energy production to make fuel imports more viable … Read more

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Oil to Snap Three-Week Losing Streak as Trade War Fears Ease

Summary • US reciprocal tariff recommendations expected in April • Ukraine peace talks could pave way for Russia sanctions easing • Global oil demand on the rise, says JP Morgan LONDON, Feb 14 (Reuters) – Oil prices rose on Friday and were poised to end three weeks of decline, buoyed by rising fuel demand and … Read more

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US is Biggest Loser From Trump’s Metals Tariffs

Steel Pipes

By Antony Currie MELBOURNE, Feb 13 (Reuters Breakingviews) – U.S. President Donald Trump says trade wars are easy to win. If so, his 25% tariffs on steel and aluminium imports ought to have big overseas producers like Rio Tinto (RIO.L), (RIO.AX) begging for mercy. Yet shareholders in the $107 billion miner and rivals like BHP … Read more

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PG&E Raises 2025 Core Earnings Forecast on Higher Electricity Rates

Feb 13 (Reuters) – PG&E Corp (PCG.N), opens new tab on Thursday raised its adjusted core earnings forecast for 2025, as the power company benefits from lower operating expenses and higher electricity rates. Last month, the California Public Utilities Commission approved another request from the company to raise electricity prices after a series of similar … Read more

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

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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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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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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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Trump Hostility to US Offshore Wind Reverberates Through Supply Chain

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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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Russia Braces for Oil Output Cuts as Sanctions and Drones Hit

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(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

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(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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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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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

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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

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(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

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(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

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(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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