BP said on Monday it will remain a member of the American Petroleum Institute (API) after the largest U.S. oil and gas trade lobby group addressed some differences with the British energy company over climate change. BP (BP.L), which plans to sharply cut its oil output and boost its renewable energy capacity over the next … Read more BP says it will stick with top U.S. oil lobby after climate shift

John Kemp Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. REUTERS/Drone Base Hedge funds boosted their position in petroleum for the fourth week running, as bullishness about oil consumption and prices rebounded after the setback in March. Hedge funds and other … Read more Column: Oil buying accelerates amid growing confidence in economic recovery

The ransomware group linked to the extortion attempt that has snared fuel deliveries across the U.S. East Coast may be new, but that doesn’t mean its hackers are amateurs. Who precisely is behind the disruptive intrusion into Colonial Pipeline hasn’t been made officially known and digital attribution can be tricky, especially early on in an … Read more Ransom group linked to Colonial Pipeline hack is new but experienced

The largest U.S. fuel pipeline system, Colonial Pipeline, shut down on Friday after a cyberattack. Nearly half the fuel consumed in the populous eastern United States passes through the network. WHAT’S THE OUTLOOK FOR PUMP PRICES? Prices at gasoline stations are expected to rise if the outage continues. Retail prices across much of the United … Read more Explainer: Will Colonial fuel pipeline shutdown mean U.S. pump prices rise?

May 6, 2021 (Bloomberg) Energy Transfer LP, the pipeline giant controlled by billionaire Kelcy Warren, has emerged as the biggest winner so far from the deadly winter storm that paralyzed Texas in February. The company saw a positive earnings impact from the extreme weather of about $2.4 billion, it said Thursday in its first-quarter earnings statement. … Read more Energy Transfer Made $2.4 Billion From Texas Winter Storm

John Kemp – Reuters Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. REUTERS/Drone Base U.S. petroleum inventories have returned to normal after ballooning during the Saudi-Russian volume war and first wave of the coronavirus epidemic last year. Total stocks of crude … Read more Column: U.S. petroleum stockpiles normalise after pandemic surge – John Kemp

Reuters Jobs in the U.S. solar industry fell nearly 7% last year due to work restrictions related to the coronavirus pandemic and large gains in labor efficiency, according to an industry report published on Thursday. The decline extends a volatile period for solar sector jobs, which have yet to return to a peak reached in … Read more U.S. solar jobs fell 7% in 2020 on pandemic, efficiency gains

The governor of Texas in an unusual move on Thursday asked the state’s Supreme Court to accept an Exxon Mobil Corp (XOM.N) petition seeking to reverse a state court decision in a climate change case. California municipal officials sued Exxon and other energy companies in 2017 seeking damages for rising sea levels they blamed on fossil … Read more Texas governor backs Exxon Mobil petition in climate case

By Saket Sundria and Alex Longley May 6, 2021 (Bloomberg) Oil slipped below $69 a barrel as traders assessed an uneven recovery in global demand.Global benchmark Brent has struggled for momentum after failing to break above $70 a barrel on Wednesday. While major crude importer India is battling a record coronavirus wave that’s sapped economic activity, … Read more Oil Slides Amid Uneven Recovery in Global Consumption

Natural gas suppliers, pipeline companies and banks that trade commodities have emerged as the biggest market winners from February’s U.S. winter blast that roiled gas and power markets, according to more than two dozen interviews and quarterly earnings reports. The deep freeze caught Texas’s utilities off-guard, killed more than 100 people and left 4.5 million … Read more Gas and power sellers rack up billions in profit from Texas freeze

Exxon Mobil Corp (XOM.N) expects up to $200 million in charges this year related to job cuts in an era of cost savings, according to a regulatory filing. The biggest U.S. oil producer has slashed costs, delayed projects and said it could trim an estimated 14,000 employees globally, or 15%, including contractors. Exxon reported its first … Read more Exxon expects $200 mln in charges this year for job cuts

U.S. oil and gas producers Marathon Oil Corp (MRO.N) and APA Corp (APA.O) beat Wall Street estimates for first-quarter profits on Wednesday, as COVID-19 vaccine rollouts and easing travel restrictions powered a rebound in oil prices. Crude prices are up at least a third this year, after the pandemic hammered fuel demand at the start of 2020. Marathon … Read more Marathon Oil, APA profits beat as crude prices recover from pandemic lows

The Indian Point Energy Center nuclear power plant, which New York Governor Andrew Cuomo announced will shutdown as planned, is pictured along the eastern shore of the Hudson River in Buchanan, New York, U.S., April 30, 2021. REUTERS/Mike Segar The White House has signaled privately to lawmakers and stakeholders in recent weeks that it supports … Read more U.S. eyes nuclear reactor tax credit to meet climate goals -sources

Reuters A sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus Mordant Crude oil and fuel stocks fell sharply in the most recent week, according to two market sources, citing American Petroleum Institute figures. Crude stocks fell by 7.7 … Read more API shows sharp drop in crude, product inventories

May 4, 2021 (Bloomberg) Supply-chain headaches for everything from glass to shipping capacity are pinching the solar industry.SolarEdge Technologies Inc. tumbled as much as 16%, the most in almost four months, after warning that margins will shrink slightly in coming months amid logistics-related cost pressures. The solar industry is facing a constellation of issues this year … Read more Solar Industry Crimped by Supply-Chain and Logistical Challenges

Members of a U.S. House of Representatives subcommittee met on Tuesday with representatives from the biofuels and airline industries to discuss ways to expand production of low-carbon aviation fuel, the subcommittee chair told Reuters. The meeting is part of a broader push by lawmakers to advance climate and energy legislation amid calls by U.S. President … Read more U.S. House panel discusses low-carbon fuel with airline, biofuel industries

Operators of U.S. Midwest refiners, including BP, Marathon Petroleum Corp and Cenovus, are hiring lower-cost subcontractors to handle massive, months-long maintenance projects, setting aside longtime unionized workers, six sources familiar with the projects told Reuters. Refiners have sold assets and closed facilities and now are trying to cut labor expenses in response to the pandemic, … Read more Unions push back as U.S. refiners shunt aside longtime trade workers

Climate activists are prodding Exxon Mobil Corp’s (XOM.N) top shareholders to vote against the reelection of two directors, a move that could boost a hedge fund’s proxy fight to seat four candidates on the oil giant’s board. Environmental group Sierra Club and other activists have bombarded BlackRock Inc (BLK.N) and Vanguard Group with calls and emails urging that … Read more Climate activists urge BlackRock, Vanguard to vote against Exxon directors

May 2, 2021 (Bloomberg) Warren Buffett delivered a clear verdict Saturday on the state of the U.S. economy as it emerges from the pandemic: red hot.“It’s almost a buying frenzy,” the Berkshire Hathaway Inc. chief executive officer said during the conglomerate’s annual meeting, which was held virtually from Los Angeles. “People have money in their pocket … Read more Warren Buffett Sees a ‘Red Hot’ Economy With Creeping Inflation

May 3, 2021 (Bloomberg) Oil prices dipped as traders weighed weaker fuel demand in India against optimism over the global economic recovery from the coronavirus pandemic.Brent crude fell 0.6% to about $66.50 a barrel in Asian trading. Sales of gasoline in India were the lowest in April since August, while average daily diesel sales were the lowest since … Read more Oil Drops as Low Indian Demand Offsets Recovery Optimism

May 3, 2021 (Bloomberg) Warren Buffett said Greg Abel, Berkshire Hathaway Inc.’s vice chairman of non-insurance businesses, would be his likely successor if the billionaire were to step down.The board agrees that Abel, 58, would take over if anything were to happen to the 90-year-old chief executive officer, Buffett told CNBC. Abel had been seen as … Read more Buffett Says Greg Abel is His Likely Successor at Berkshire

Christina Beverly and John Shearon light candles in their home after winter weather caused electricity blackouts and “boil water” notices in Fort Worth, Texas, U.S. February 20, 2021. Their home has not had power since blackouts began across the state on Sunday, February 14, 2021, according to the residents. REUTERS/Cooper Neill Berkshire Hathaway Inc (BRKa.N) on Saturday … Read more Berkshire defends $8 bln Texas power proposal to combat blackouts

The North Carolina Department of Environmental Quality (DEQ) again denied Mountain Valley Pipeline’s (MVP) request for a water permit for its proposed Southgate natural gas pipeline project from Virginia to North Carolina. The DEQ first denied the request in August 2020. MVP appealed that decision to the U.S. Court of Appeals for the Fourth Circuit, … Read more North Carolina again denies permit for Mountain Valley gas pipe extension

Apr 30, 2021 (Bloomberg) Oil rose this month with a slew of positive economic data and signs of a budding fuel consumption revival in key economies offsetting a worsening coronavirus crisis elsewhere.Futures in New York rose this week, extending its monthly gain to 7.5%. The near-certain likelihood of higher fuel consumption in the U.S., China and the U.K … Read more April Wrap: Oil Posts April Gain With Focus on Upcoming Demand Revival

The Houston Ship Channel and adjacent refineries, part of the Port of Houston, are seen in Houston, Texas, U.S., May 5, 2019. REUTERS/Loren Elliott Exxon Mobil Corp (XOM.N) is advancing a carbon capture and storage project along the U.S. Gulf of Mexico through talks with rivals and government officials, Chief Executive Darren Woods said in an interview … Read more Exxon CEO says advancing U.S. carbon capture project with rivals, government

Apr 30, 2021 (Bloomberg) The powerful rebound in oil prices has turned exchange-traded funds tracking fossil fuels into some of the best performing in the U.S. this year. Strangely, the rally in crude has been pretty good for products aiming to safeguard the environment, too.A quirk in the way many environmental, social and governance indexes are … Read more Big Oil Is Boosting ETF Returns and ESG Funds Are No Exception

Apr 30, 2021 (Bloomberg) Exxon Mobil Corp. snapped a record streak of losses as rising oil and natural gas prices bolstered one of the biggest dividends in the S&P 500 Index. Exxon earned 64 cents a share in the first quarter, beating the 61-cent average estimate from analysts in a Bloomberg survey. The oil giant’s exploration … Read more Exxon Rebounds to First Profit Since 2019 on Crude Surge

A Marathon Oil well site is seen as oil and gas activity dips in the Eagle Ford Shale oilfield in Texas, U.S., because of the COVID-19 pandemic and the drop in demand for oil globally. May 18, 2020. REUTERS/Jennifer Hiller Marathon Oil Corp (MRO.N) on Thursday became the latest U.S. oil producer to raise its quarterly dividend … Read more Marathon Oil raises quarterly dividend by 33%, cuts debt

Apr 29, 2021 (Bloomberg) Texas moved to ban retail electricity providers from offering the kinds of plans that led to astronomical power bills for customers during February’s energy crisis.Legislation passed by the state Senate Thursday and sent to the desk of Governor Greg Abbott for signature prohibits companies from tying electricity rates to the state’s volatile wholesale … Read more Texas Set to Ban Griddy-Like Electricity Plans After Blackouts

The U.S. Supreme Court on Wednesday wrestled with a bid by a group of energy companies seeking to seize land owned by New Jersey to build a $1 billion natural gas pipeline, as the state argues that its rights would be trampled. The justices heard arguments in an appeal by PennEast Pipeline Company LLC, a … Read more U.S. Supreme Court tackles pipeline company’s bid to seize New Jersey land

By Josh Saul and Naureen S. Malik Apr 28, 2021 (Bloomberg) NextEra Energy Inc. and OPAL Fuels LLC plan to capture methane from a Minnesota landfill to produce renewable natural gas, adding to a series of projects seeking to cash in on the energy source while helping cut greenhouse-gas emissions. The new plant will harness thousands … Read more NextEra Plans to Harness Landfill Gas to Make Renewable Fuel

File photo: The company logo and ticker for Duke Energy Corp. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 4, 2019. REUTERS/Brendan McDermid U.S. energy company Duke Energy Corp (DUK.N) said on Wednesday that it plans to triple its renewable power output to 23% by … Read more Duke Energy plans to triple U.S. renewable power output by 2030

Apr 28, 2021 (Bloomberg) Senate Democrats will begin using a special procedure to undo parts of Donald Trump’s regulatory agenda Wednesday, starting by rescinding a measure that made it harder for the Environmental Protection Agency to limit leaks of the powerful greenhouse gas methane from oil and gas wells. The vote on the methane rule is … Read more Senate to Start Undoing Trump’s Rollbacks Using Once Obscure Law

Apr 27, 2021 (Bloomberg) Chesapeake Energy Corp. is searching for its next chief executive officer after the sudden departure of Doug Lawler less than three months on from the company’s exit from bankruptcy and as speculation continues to swirl about consolidation in the U.S. shale industry.Lawler’s departure is effective April 30 and Chairman Mike Wichterich will … Read more Chesapeake Searches for Next CEO After Lawler’s Abrupt Exit

Apr 26, 2021 (Bloomberg) It’s not quite pedal to the metal yet but U.S. refiners are inching up production ahead of a summer driving season that might boost profits more than a year after the pandemic decimated gasoline demand.U.S. gasoline supplies were at a seven-week high in the week ended April 16 as refineries ran at … Read more U.S. Refiners Boost Output Ahead of Summer

Top oilfield services firm Schlumberger NV (SLB.N) on Monday named new executives to energy transition units, according to a memo seen by Reuters, a move that signals its growing commitment to lower carbon businesses. Sebastian Pages, formerly in the Well Construction group, was appointed as New Energy finance director. Kahina Abdeli-Galinier, previously the marketing director for … Read more Schlumberger names new executives to energy transition business

Reuters Snow covered transfer lines are seen at the Dominion Cove Point Liquefied Natural Gas (LNG) terminal in Lusby, Maryland March 18, 2014. REUTERS/Gary Cameron Canadian energy company Pembina Pipeline Corp (PPL.TO) paused development of its proposed Jordan Cove liquefied natural gas (LNG) export plant in Oregon, according to an appeals court filing. In the filing, on … Read more Pembina pauses development of Oregon Jordan Cove LNG plant

Apr 23, 2021 (Bloomberg) Starwood Energy, a power plant developer, is pitching an $8 billion plan to build natural gas plants for emergency use on the Texas grid, rivaling a proposal from Warren Buffett’s Berkshire Hathaway Inc.Starwood would construct 11 natural gas plants that could be used by the Texas grid operator when power supplies get … Read more Berkshire Gets Competitor in Race to Toughen Texas Grid

(Bloomberg) Bringing 40 heads of state together for two days of virtual climate talks created the most visible role yet for John Kerry, the White House’s special envoy for climate. With Friday’s end of a summit that focused on what nations need to do to curb planet-warming emissions, the top U.S. climate diplomat moved to reframe the moment as a historic economic … Read more John Kerry After Climate Summit: ‘This Is Where the Market Is Moving’

(Bloomberg) NextEra Energy Inc., the world’s biggest investor-owned generator of wind and solar power, said it wasn’t able to collect $180 million in revenue following the Texas energy crisis that left the state’s power market — and many of its power providers — in financial distress. Subsidiary NextEra Energy Resources LLC said in a first-quarter filing … Read more Texas Storm Cost NextEra $180 Million in Uncollected Revenue

Reuters A Marathon Petroleum banner outside the El Paso refinery in El Paso, Texas, U.S., October 1, 2018. REUTERS/Julio-Cesar Chavez/File Photo By Laura Sanicola (Reuters) – Inadequate safety standards at Marathon Petroleum’s St. Paul Park refinery in Minnesota have caused avoidable hydrocarbon and chemical releases that pose a threat to the community, a local worker … Read more Worker group alleges unsafe practices at Marathon Minnesota refinery

Apr 23, 2021 (Bloomberg) Schlumberger is the latest oilfield giant to declare the worst is behind them in international markets after a historic crude price collapse, forecasting strong demand for their services into next year. The world’s biggest oilfield contractor joined rivals Halliburton Co. and Baker Hughes Co. this week in predicting expansion in overseas work … Read more Oil’s Hired Hands Declare Overseas Recovery With Robust 2022

The Biden administration wants to spend $174 billion to boost electric vehicles and charging stations but its 2030 climate emissions reduction pledge released on Thursday does not include a firm date to phase out gasoline-powered vehicles. “These autos are coming. We know it. It is the future,” White House climate adviser Gina McCarthy said of … Read more White House touts EVs, but not backing gasoline-powered phase-out date

Law enforcement officers move into the main opposition camp against the Dakota Access oil pipeline near Cannon Ball, North Dakota, U.S., February 23, 2017. REUTERS/Terray Sylvester A U.S. appeals court on Friday denied Dakota Access LLC’s petition for a rehearing of a court decision that canceled a key permit for its oil pipeline and ordered … Read more U.S. appeals court denies Dakota Access rehearing request, environmental review to continue

WASHINGTON (Reuters) — The Biden administration on Thursday pledged at a U.S. climate summit attended by world leaders to slash U.S. greenhouse gas emissions in half by 2030, a target it hopes will spur other big countries to raise their ambition to combat global warming. The United States, the world’s second-leading emitter after China, seeks … Read more U.S. Makes ‘Game Changing’ Pledge at Climate Summit to Cut Emissions 50% by 2030

Kinder Morgan (KMI.N) on Wednesday posted a quarterly profit that breezed past estimates, helping the U.S. pipeline operator raise its annual earnings forecast, on a demand surge for natural gas and electricity during the February winter storm. The company’s shares rose 2.7% in extended trading. A deep freeze that swept parts of the United States last … Read more Kinder Morgan raises outlook as profit surges on winter storm demand

Reuters The Valero refinery next to the Houston Ship Channel is seen in Houston, Texas, U.S., May 5, 2019. REUTERS/Loren Elliott U.S. refiner Valero Energy Corp (VLO.N) posted a larger quarterly loss on Thursday as a winter storm hit its operations in February, but its top boss shrugged off the rare event to focus on rising fuel … Read more Valero shrugs off storm hit, sees silver lining in demand uptick

CALGARY, Alberta (Reuters) – A state of Michigan regulator said on Wednesday it will consider the impact of climate-warming greenhouse gas emissions when deciding whether Enbridge Inc can build an underwater tunnel to rehouse a four-mile (6-km) section of its Line 5 oil pipeline. The Michigan Public Service Commission (MPSC) agreed with interveners, including environmental … Read more Michigan regulator to weigh climate impact of Enbridge oil line tunnel

Reuters U.S. crude oil stockpiles unexpectedly edged higher last week, while distillate inventories felland gasoline stocks built modestlyas refining rates held steady, the Energy Information Administration said on Wednesday. Crude inventories (USOILC=ECI) rose by 594,000 barrels in the week to April 16 to 493 million barrels, compared with analysts’ expectations in a Reuters poll for … Read more U.S. crude and gasoline stocks edge up, distillates draw down -EIA

By Gerson Freitas Jr. Apr 20, 2021 (Bloomberg) For John Arnold, the billionaire philanthropist who made his fortune betting against natural gas prices, the fossil-fuel industry seems finally ready to move on.A year ago, talk in Houston’s energy hub was mostly about defending oil and gas and denouncing renewables, Arnold said Monday on his Twitter account. Now, much … Read more Legendary Houston Trader Sees ‘Seismic Shift’ to Clean Energy

Reuters NextEra Energy Inc (NEE.N) reported a better-than-expected quarterly profit on Wednesday, as the world’s largest producer of wind and solar energy benefited from surging demand for renewable power. NextEra is among the biggest beneficiaries of a global transition to clean energy from fossil fuels and briefly overtook oil behemoth Exxon Mobil Corp (XOM.N) in market value last year … Read more NextEra profit energized by surging demand for renewable power

Reuters Oilfield equipment and services provider Baker Hughes Co (BKR.N) top boss on Wednesday reiterated he is “cautiously optimistic” about oil demand recovering this year from the coronavirus blow, echoing a view he shared on the company’s last earnings call. The company reported a 40% fall in first-quarter adjusted profit, compared to the fourth, as the pandemic’s … Read more Baker Hughes sticks to oilfield activity recovery prediction after weak quarter

Apr 20, 2021 (Bloomberg) The White House unveiled on Tuesday a 100-day plan intended to protect the U.S. power grid from cyber-attacks, mainly by creating a stronger relationship between U.S. national security agencies and the mostly private utilities that run the electrical system. The plan is among the first big steps toward fulfilling the Biden administration’s … Read more U.S. Unveils Plan to Protect Power Grid From Foreign Hackers

More from Alex Epstein’s Energy Talking Points The widely-condemned “flaring” of natural gas is a vital safety measure that decreases the energy efficiency of US drilling by less than 1%. And that number would be far lower without the infrastructure-blocking of anti-fossil fuel activists who claim to oppose flaring. Quick summary Opponents of fossil fuels … Read more Talking Points on Flaring – Alex Epstein

A U.S. House panel on Tuesday passed a bill to open the OPEC oil production group and countries working with it to lawsuits for collusion in boosting petroleum prices, but it was uncertain whether the full chamber would consider the legislation. The so-called NOPEC bill, introduced by Representative Steve Chabot, a Republican, passed on a … Read more U.S. House panel advances bill allowing anti-trust suits against OPEC