Woodside Energy Q3 revenue exceeds expectations and will be delisted from LSE
Woodside Energy, an Australian company, reported on Wednesday a sequential increase in revenue for the third quarter and a record-breaking quarterly output. This was boosted by a faster ramp-up at its Sangomar Project and…
Mexican President says that new Pemex refinery is running at about 80% capacity
The new refinery of Mexico's state-owned Pemex is currently processing crude oil at 80% capacity, according to the president. This represents a significant increase from the latest data released by the company. The Olmeca refinery…
Exxon has secured over 271,000 acres of land in Texas waters to capture CO2 offshore
Exxon Mobil announced on Thursday that it had acquired state leases covering over 271,000 acres of Texas state waters to conduct an offshore CO2 capture operation. Exxon won the lease from the Texas General Land Office after…
Woodside completes Tellurian acquisition for $1.2 billion
Woodside Energy announced on Wednesday that it had completed the acquisition, including the debt, of U.S. Gulf Coast Liquefied Natural Gas export project developer Tellurian. Tellurian's shareholders voted last week in favor…
S&P 500 closes near flat; more data on jobs is awaited. Middle East in focus
S&P 500 closed little changed Wednesday. Technology shares gained, but investors were nervous about Middle East tensions. Also, more U.S. employment data is due this week. Nvidia shares are up, which helped lift the S&P 500 Technology index.
As tensions in the Middle East escalate, futures prices fall; employment data is on tap
U.S. Stock Index Futures fell on Wednesday, as geopolitical tensions and a port strike in the United States kept investors on edge before data that was expected to shed some light on the state of the economy and its monetary policy trajectory.
Natural gas producers ask Harris for answers on the battleground state
Drillers from Pennsylvania, an energy-rich state, called on Democratic presidential nominee Kamala Harris this week to explain her stance on natural gas. The energy industry touts it as a clean fuel but climate activists claim that the fuel is a threat to global warming.
Helene reaches hurricane strength in Gulf of Mexico and threatens Florida
The National Hurricane Center reported that the powerful storm Helene became a hurricane Wednesday morning. It was packing winds of up to 130 kph (80 mph) as it churned off the coast of Yucatan Peninsula in the eastern Gulf of Mexico.
EIA reports that US crude, gasoline, and distillate stocks are falling.
The Energy Information Administration reported on Wednesday that U.S. crude, gasoline, and distillate stocks fell last week. The EIA reported that crude inventories dropped by 4.5m barrels, to 413m barrels for the week ending Sept. 20.
As a major hurricane approaches, oil companies are evacuating their staff from the Gulf of Mexico.
On Monday, U.S. producers of oil scrambled to evacuate their staff from offshore oil fields in the Gulf of Mexico as the second major storm to hit in two weeks is predicted to ravage them. The U.S. National Hurricane Center…
Hurricanes force oil companies to evacuate staff from the Gulf of Mexico
U.S. Oil Producers scrambled to evacuate their staff from Gulf of Mexico platforms on Monday as forecasters warned that the second major hurricane within two weeks would likely tear into offshore oil fields. The U.S. National…
New refineries bring down profits for global refiners
Oil refiners across Asia, Europe, and the United States have seen their profitability drop to multi-year-lows. This is a significant downturn in an industry which had previously enjoyed booming returns following the pandemic. It also highlights the global slowdown.
Woodside Energy CEO: We are in discussions with potential partners about Driftwood LNG
Woodside Energy CEO Meg O'Neill announced on Monday that the company is in talks with U.S. onshore gas producers, pipelines and companies who share its views and outlook on liquefied gas for its Driftwood LNG Project. O'Neill…
EUROPE GAS - Prices drop on warmer temperatures and fewer outages
Dutch and British wholesale gasoline prices fell on Monday morning due to higher temperatures forecast for this week, and easing supply problems. LSEG data shows that the benchmark contract for the Dutch TTF hub at 0813 GMT was 1.10 euros lower…
EIA: Permian Basin gas capacity will increase with the launch of Matterhorn pipeline
The U.S. Energy Information Administration said Tuesday that the Matterhorn Express Pipeline is expected to begin operating in this month. Matterhorn, in a joint venture between Whitewater, EnLink Midstream and MPLX will…
APPEC/S&P Global predicts OPEC+ will increase their oil production next year
An executive from S&P Global told a Monday conference that the Organization of the Petroleum Exporting Countries (OPEC+) and its allies are expected to increase their production in 2025 for the first time since a few years.
Woodside Energy's first-half profits drop on lower oil prices
Woodside Energy, based in Australia, reported a 14 percent drop in first-half profits on Tuesday due to price volatility and lower realized oil prices. Oil prices have been choppy due to supply chain disruptions caused by tensions in the Middle East…
OPEC faces a moment of truth about planned output increases: Kemp
Saudi Arabia and its OPEC allies will have to make a difficult decision in the coming weeks. They must decide whether they want to proceed with production increases planned for October or postpone them due an uncertain economic outlook.
EIA reports that US biofuel production capacity increased last year due to the renewable diesel rush.
Data from the U.S. Energy Information Administration showed that five new renewable diesel plants were opened in 2018. This increased U.S. production of this drop-in substitute for diesel and other emerging biofuels to 282,000 barrels per day (bpd).
Kemp: Oil traders focus on economy, not dwindling stock.
The oil prices have fallen in recent weeks, as traders focus their attention on a potential slowdown of the major economies. At the end of the month of June, the Organization for Economic Cooperation and Development's (OECD) advanced economies had 2…
