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EIA: U.S. manufacturers have lost flexibility to switch fuels

Energy News // 1 day ago

EIA: U.S. manufacturers have lost flexibility to switch fuels

Oct. 19 (UPI) -- U.S. manufacturers have the lost capability to switch fuels, which has made them more vulnerable to potential shortages, a report by the EIA said.

Volatile October has seen oil prices fall $8 in two weeks

Energy News // 1 day ago

Volatile October has seen oil prices fall $8 in two weeks

BSEE: Approvals for Gulf of Mexico deep water drilling rise in 2018

Energy News // 1 day ago

BSEE: Approvals for Gulf of Mexico deep water drilling rise in 2018

Sasol cuts output guidance, posts 75 percent advance in Louisiana

Energy News // 2 days ago

Sasol cuts output guidance, posts 75 percent advance in Louisiana

BP's Thunder Horse expansion to add 30,000 barrels oil equivalent daily

Energy News // 2 days ago

BP's Thunder Horse expansion to add 30,000 barrels oil equivalent daily

Oct. 18 (UPI) -- BP started up its Thunder Horse expansion four months ahead of schedule and will at peak add 30,000 barrels oil equivalent daily to its Gulf of Mexico output.

Brazilian biomass-powered electricity expands 11 percent over last year

Energy News // 2 days ago

Brazilian biomass-powered electricity expands 11 percent over last year

Oct. 18 (UPI) -- The Brazilian production of electricity from biomass, mostly produced from sugar cane material and then fed into the country's power grid, has increased 11 percent from a year earlier

WTI prices dip below $70 mark as free fall continues

Energy News // 2 days ago

WTI prices dip below $70 mark as free fall continues

Oct. 18 (UPI) -- Projections of $100 oil at the end of 2018 were the rage just a few weeks ago. The effects of U.S. sanctions on Iran and potential changes in the U.S. relationship with Saudi Arabia will have.

ExxonMobil to supply LNG for 20 years to Zhejiang Provincial Energy

Energy News // 2 days ago

ExxonMobil to supply LNG for 20 years to Zhejiang Provincial Energy

Oct. 18 (UPI) -- ExxonMobil has signed an LNG supply agreement to deliver one million metric tons annually to the Zhejiang Provincial Energy Group Co. over a two-decade period.

Italy's Eni to try to repeat huge offshore Mozambique discovery

Energy News // 3 days ago

Italy's Eni to try to repeat huge offshore Mozambique discovery

Oct. 17 (UPI) -- Eni, which earlier this decade found 85 trillion cubic feet of natural gas in Mozambique deep waters, on Wednesday signed an accord to explore a new area.

Surging crude supplies tank oil prices amid looming diplomatic crisis with Saudi Arabia

Energy News // 3 days ago

Surging crude supplies tank oil prices amid looming diplomatic crisis with Saudi Arabia

Oct. 17 (UPI) -- The United States added another 6.5 million barrels to its stockpiles last week, sending crude oil prices tumbling despite concerns about relations with Saudi Arabia.

Pemex raises $2 billion for investments, liquidity through early 2019

Energy News // 3 days ago

Pemex raises $2 billion for investments, liquidity through early 2019

Oct. 17 (UPI) -- Pemex will use $2 billion recently raised through a bond sale to help it meet its investment program and guarantee its liquidity through early next year.

Total, Adani to build LNG terminals, 1,500 service stations in India

Energy News // 3 days ago

Total, Adani to build LNG terminals, 1,500 service stations in India

Oct. 17 (UPI) -- Total has teamed up with the Indian conglomerate Adani to jointly develop liquefied natural gas terminals and build 1,500 service stations in India.

BSEE: 7.7 percent of Gulf oil output still shut-in following Hurricane Michael

Energy News // 4 days ago

BSEE: 7.7 percent of Gulf oil output still shut-in following Hurricane Michael

Oct. 16 (UPI) -- Three offshore platforms in the Gulf of Mexico have reported grating damage while 7.7 percent of the area's oil production remained shut-in on Tuesday.

Spain's Ibedrola sells hydro, gas-powered assets in U.K. for $929M

Energy News // 4 days ago

Spain's Ibedrola sells hydro, gas-powered assets in U.K. for $929M

Oct. 16 (UPI) -- Spain's Iberdrola, an electricity generation company, sold $929 million of hydro and gas-powered assets in the U.K. to increase its wind capacity there.

Oil prices steady but analysts wary of Saudi reaction to Khashoggi allegations

Energy News // 4 days ago

Oil prices steady but analysts wary of Saudi reaction to Khashoggi allegations

Oct. 16 (UPI) -- The disappearance of journalist Jamal Khashoggi has created a diplomatic crisis for the United States and Saudi Arabia, which typically means crude oil prices will go up.

Most states see first gas price drop in weeks as demand declines

Energy News // 4 days ago

Most states see first gas price drop in weeks as demand declines

Oct. 16 (UPI) -- Average gasoline prices fell in mid-October on-week, amid declines in demand, and dropped on average two cents per gallon, in the first such drop in three weeks.

Petrobras inks accord with China's CNPC for Comperj refinery, Marlim crude

Energy News // 4 days ago

Petrobras inks accord with China's CNPC for Comperj refinery, Marlim crude

Oct. 16 (UPI) -- Petrobras and CNPC will work toward evaluating and possibly completing a Rio refinery project complex, and sharing Marlim crude oil production.

Group delays stock offer for 25 percent of Cepsa due to market 'instability'

Energy News // 5 days ago

Group delays stock offer for 25 percent of Cepsa due to market 'instability'

Oct. 15 (UPI) -- The Abu Dhabi-based Mubadala group cited "markets instability" as it on Monday delayed selling a 25 percent stake in the Spain-based oil company Cepsa.

Chinese companies said to be planning a $2B refinery in Iran

Energy News // 5 days ago

Chinese companies said to be planning a $2B refinery in Iran

Oct. 15 (UPI) -- Chinese companies may invest $2 billion to build a refinery in an Iranian region in the southern shores of the Caspian Sea, according to Iranian officials.

Crude oil prices cool down after volatile morning with Saudi Arabia

Energy News // 5 days ago

Crude oil prices cool down after volatile morning with Saudi Arabia

Oct. 15 (UPI) -- Crude oil futures went for a wild ride in European trading Monday but settled down before U.S. markets opened, in part because President Donald Trump and Saudi Arabia are talking again.

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