360 News Desk – Page 334

Shell unveils carbon capture project in Canada’s Alberta province

July 13, 2021

Brecorder CALGARY: Royal Dutch Shell said on Tuesday it plans to build a large-scale carbon capture and storage (CCS) project near Edmonton, Alberta, joining a number of other companies proposing clean energy initiatives in Canada’s main oil-producing province. The Polaris CCS project would have capacity to store 300 million tonnes of carbon over its lifetime, and capture emissions from Shell’s

BP to take full control of Thorntons stores in U.S. retail push

July 13, 2021

Reuters BP Plc BP.L said on Tuesday it would buy the majority share it does not already own in its Thorntons joint venture from ArcLight Capital Partners LLC to expand its presence in the U.S. fuels and convenience retail business. The acquisition will bring BP more than 200 retail stores in Kentucky, Illinois, Indiana, Ohio, Tennessee and Florida and will mark

Troubled Caribbean refinery seeks bankruptcy as lenders balk at injecting more cash

July 13, 2021

Reuters The owners of Limetree Bay, a Caribbean refinery that was once the largest in the Western Hemisphere, filed for bankruptcy on Monday after lenders balked at putting new cash into a project dogged by cost overruns and regulatory troubles. The St. Croix refinery overhaul was the most expensive effort in nearly a decade to expand refining capacity in the

OPEC+ impasse means tight oil market now, volatility ahead, says IEA

July 13, 2021

Reuters LONDON – The oil market will see tighter supply for now amid a dispute inside OPEC+ about how to ease production curbs but it still faces the risk of a dash for market share if disagreement persists, the International Energy Agency (IEA) said on Tuesday. The Paris-based agency said oil prices would be volatile until differences were resolved among

Shipping industry seeks to combat dark oil transfers at sea

July 13, 2021

Reuters LONDON/MEXICO CITY – Top oil shipping companies say they have tightened operational guidelines and deployed technology to prevent accidental breaches of sanctions, as the countries hit by ever tougher restrictions fight back with elaborate strategies to dodge them. Washington has ramped up shipping-related sanctions over the last two years to make it harder for countries, such as Iran and

EnerCom's 26th The Oil & Gas Conference® brings a broad group of public and private energy companies, energy analysts, industry leaders and investors to Denver, Aug. 15-18, 2021- oil and gas 360

We’re Back! Preliminary list of participating companies posted for EnerCom’s The Oil & Gas Conference

July 12, 2021

Oil & Gas 360 EnerCom, Inc. published a preliminary list of participating companies for The Oil and Gas Conference today.  We are adding to the list daily and hope that you will be able to attend this year.  Click here to register and see preliminary list. We are excited to bring the energy and investment community back together in Denver August 15-18, 2021 Conference Details: EnerCom’s The Oil & Gas Conference®

Dominion Energy, Warren Buffett’s Berkshire Hathway Energy terminate Questar Pipeline sale

July 12, 2021

Fox Business Dominion Energy and Warren Buffett’s Berkshire Hathaway Energy have agreed to terminate a planned sale of Questar Pipelines. Dominion cited “ongoing uncertainty associated with achieving clearance from the Federal Trade Commission under the Hart-Scott-Rodino Antitrust Improvements Act of 1976” as the reason for the termination. Representatives for the FTC and Berkshire Hathaway Energy declined to comment further. Dominion said Monday’s announcement has no impact on

Column: Hedge funds took profits as U.S. oil price hit highest in more than six-years

July 12, 2021

Reuters LONDON – Portfolio managers took profits on their bullish petroleum positions after OPEC+ failed to reach agreement on increasing production and U.S. oil prices hit their highest level since late 2014. Hedge funds and other money managers cut their combined position in the six most important petroleum futures and options contracts by the equivalent of 63 million barrels to

Chart of the Week: Rig Count and Stock Price

July 12, 2021

By Andrew Nichols: EnerCom Since August 2020, the number of United States oil and gas rigs steadily increased up to 470 oil rigs. The increase in oil rigs brings in more business and causes the price of shares for service companies to go up as shown by the OSX Index. This is a price-weighted index composed of 15 companies that

Analysis: Big Oil keeps brakes on spending even with crude rally windfall

July 12, 2021

Reuters LONDON – Leading international energy companies are resisting the temptation to rush and spend an unexpected windfall from rallying oil and natural gas prices as they focus on longer-term energy transition challenges, executives and analysts said. Benchmark crude oil prices more than doubled in the second quarter of 2021 from a year earlier and have risen further in recent

Column: Supply struggles, not just demand, are fuelling LNG’s price surge

July 12, 2021

Reuters LAUNCESTON, Australia – The rally in spot liquefied natural gas (LNG) prices in recent weeks has been framed as being led by robust demand in Asia and in Europe as the northern hemisphere deals with hotter-than-usual temperatures. Although this certainly has a strong influence on prices, the narrative has downplayed issues surrounding supply of the super-chilled fuel, with declining

OPEC+ yet to make progress in resolving impasse, sources say

July 12, 2021

Reuters MOSCOW/LONDON – OPEC+ is yet to make progress closing divisions between Saudi Arabia and the United Arab Emirates that last week prevented a deal to raise oil output, making another policy meeting this week less likely, OPEC+ sources said. Russia has been working behind the scenes to bring Riyadh and Abu Dhabi back to the table to find a

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