ADM accused for misconduct and lack of safety inspections following explosion that injured US worker
Archer-Daniels-Midland Co intentionally failed to test and maintain safety systems on its grain equipment for years, which contributed to an explosion that immolated a worker and put him in a coma last year, according to a lawsuit filed against the company.
Exxon and Abu Dhabi's ADNOC will partner in the delayed Texas hydrogen project
The Abu Dhabi National Oil Company will purchase a 35% stake in Exxon Mobil Corp.'s low-carbon hydrogen project proposed in Texas. Both companies announced a one-year delay in the start-up until 2029. ADNOC's investments show a confidence in the multi-billion-dollar project…
Biden administration finalizes the solar lands plan and touts progress
The administration of U.S. president Joe Biden announced on Thursday that it had finalized plans to expand solar power on federal lands across 11 western states. This is part of an overall push to accelerate the permitting and construction process for large infrastructure projects.
Two Republicans ask Pentagon to add Chinese Battery Maker CATL to restricted List
Two Republican senators on Wednesday requested that the U.S. Defense Department add Chinese battery manufacturer CATL to a list of restricted companies suspected to be working with Beijing's army. Experts say that companies added to this list are not eligible for U.S.
Demand Concerns Drive Oil Prices Down
Oil prices edged lower for a fifth session on Thursday as investors worried about the global demand outlook, however a decline in U.S. fuel inventories limited declines.Brent crude futures LCOc1 slipped 2 cents to $76.03 a barrel, while U.S.
Hunter Biden contacted US ambassador in 2016 over Burisma deal, NYT reports
Hunter Biden contacted the U.S. Ambassador to Italy in 2016 while his father Joe Biden was Vice President, to discuss a geothermal energy project with the Ukrainian company Burisma where Hunter Biden served as a board member, according to an article by the New York Times…
Equinor and Dominion win US Central Atlantic Offshore Wind Auction
The Interior Department announced on Tuesday that Equinor, a Norwegian company, and Dominion, a U.S.-based power company, were the successful bidders at an auction by the U.S. Government for two offshore wind areas near the coasts Delaware, Maryland, and Virginia.
US opponents of offshore wind projects form national group in order to combat the project
According to two organizations and the founder of this effort, U.S. opponents to offshore wind developments are creating a coalition to fight projects in California as well as New England.According to Mandy Davis, the president of NOOA…
Venezuela's PDVSA Freezes Most Oil Exports for Contract Reviews
The new head of Venezuela's state oil company PDVSA has suspended most oil export contracts while his team reviews them in a move to avoid payment defaults, according to an internal document seen by Reuters and people familiar with the matter.Since U.S.
Legal Beat: Jones Act Moon Shot
What does the Jones Act have to do with the moon, you ask? Well, we must go to ground on the Jones Act to answer the question.The “Jones Act” we are talking about is the section in the Merchant Marine Act, 1920 which revised the pre-existing reservation of U.S.
US Prepares Renewal of Chevron's Venezuela License Without Broader Terms
The U.S. Treasury Department is getting ready to renew in the coming days Chevron Corp's license to operate in Venezuela, but likely without the greatly expanded terms the U.S. oil major sought, four people close to the talks said.The last U.S.
US Okays LPG Exports to Venezuela
The U.S. government on Monday authorized shipments to Venezuela of liquefied petroleum gas, mainly used in the OPEC nation as cooking fuel and currently in short supply, causing people to burn large amounts of wood.The U.S. Treasury Department authorized through July 8…
US House Bill Seeks $8 Bln for Abandoned Oil and Gas Well Cleanup
A U.S House of Representatives Democrat introduced a bill on Thursday authorizing $8 billion to plug and clean up abandoned oil wells nationwide, a measure aimed at creating jobs for oil and gas workers and reducing climate-warming emissions.More…
Brazil: Petrobras receives $45M in Vitol Corruption Settlement
Brazilian state-run oil company Petrobras said that it had received 232.6 million reais ($44.65 million) on Tuesday in a settlement with Swiss energy trading firm Vitol, which was implicated in a sprawling national corruption probe.Petroleo Brasileiro SA…
Oil Rises on Vaccine Hope, Weak Dollar
Oil rose for a fourth straight session on Wednesday as the market shrugged off an industry report showing U.S. crude stockpiles rose more than expected, extending a rally driven by hopes that a COVID-19 vaccine will boost fuel demand.Brent crude was up 30 cents…
Offshore Oil Wells, Ports Shut as Hurricane Sally Advances on U.S. Gulf
Energy companies, ports and refiners raced on Monday to shut down as Hurricane Sally grew stronger while lumbering toward the central U.S. Gulf Coast, the second significant hurricane to shutter oil and gas activity over the last month.The…
As Oil Crisis Deepens, Hedge Funds Sense a Turnaround
Hedge fund managers sensed oil prices were nearing a turning point last week, and for the first time in more than two months started to add long positions in anticipation prices would bounce from an unsustainable low.Overall, hedge funds…
Oil Hits Highest Since September
Oil rose towards $68 a barrel to its highest in over three months on Thursday, buoyed by a report showing lower U.S. crude inventories, hopes of an end to the China-U.S. trade dispute and OPEC-led efforts to constrain supply.The American Petroleum Institute…
Oil Jumps 4% on U.S. Stockpiles Drop
Oil prices surged 4% on Wednesday on expectations that OPEC and allied producers would extend production curbs, and as U.S. government data showed a large drop in domestic crude stockpiles.Brent crude futures were up $2.44, or 4%, at $63.26 a barrel by 11:09 ET (1609 GMT). U.S.
Oil Rises Above $62
Oil rose above $62 a barrel on Thursday after China hinted at progress towards a trade deal with the United States, raising hopes for an end to a long dispute that has weighed on economic growth and demand for fuel.China and the United…
