Investors flock to US natural gas ETF despite price slump

reuters | December 1, 2023

By Suzanne McGee (Reuters) – Investors have been piling into an exchange-traded fund (ETF) designed to track U.S. natural gas prices, in spite of the commodity’s dismal performance in 2023. The U.S. Natural Gas Fund’s (UNG) price, tied to the performance of futures contracts on the commodity, has plunged 60.7% so far this year, falling […]

Biden’s clean energy agenda faces mounting headwinds

reuters | November 28, 2023

(This Nov. 24 story has been officially corrected to fix tracking firm LevelTen’s data to show that solar contract prices reached their highest level this decade, not ever, in paragraph 14) By Nichola Groom and Jarrett Renshaw (Reuters) – Canceled offshore wind projects, imperiled solar factories, fading demand for electric vehicles. A year after passage […]

Oil Sputters Near Three-Month Lows as Demand Concerns Mount

Cam White | November 8, 2023

By Paul Carsten (Reuters) -Oil prices slid more than $1 on Wednesday to their lowest in more than three months on concern over waning demand in the United States and China. Brent crude futures fell $1.11 to $80.50 a barrel by 1311 GMT and U.S. crude lost $1.20 to $76.17, with both benchmarks registering their […]

Kinder Morgan to Buy Nextera Energy Partners’ Texas Pipelines for $1.82 Billion

Cam White | November 7, 2023

By Seher Dareen and Sourasis Bose (Reuters) -U.S. pipeline operator Kinder Morgan said on Monday it would acquire NextEra Energy Partners’ gas pipelines in South Texas for $1.82 billion. The oil and gas pipeline business has seen increased consolidation this year as U.S. production grows and persisting problems related to permits for new pipelines have […]

Chevron to Buy Hess Corp for $53 Billion in Second Oil Mega-Merger in Weeks

Cam White | October 23, 2023

(Reuters) -Chevron said on Monday it agreed to buy Hess for $53 billion in stock, the second proposed mega-merger among the biggest U.S. oil players after Exxon Mobil bid $60 billion for Pioneer Natural Resources earlier this month. The proposed deal raises the competition between Chevron, the No. 2 U.S. oil and gas producer behind […]

Biden Angers All Sides with Scaled Back Offshore Oil Drilling Plan

Cam White | October 2, 2023

By Nichola Groom and Jarrett Renshaw (Reuters) -The Biden administration’s plan to slash offshore oil and gas leasing drew fire from both the fossil fuel industry and environmentalists on Friday, with energy companies saying it will raise fuel prices and greens saying it undermines efforts to stop global warming. The criticism from both sides reflects […]

Oil Prices Continue to Rally on Tight Supply

Cam White | September 18, 2023

By Natalie Grover LONDON (Reuters) -Global oil benchmark Brent crude hovered above $94 a barrel on Monday, with investors focused on the prospect of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended supply cuts. Brent crude futures rose 52 cents to $94.45 a barrel by 1039 GMT while U.S. […]

Biden’s Offshore Wind Target Slipping Out of Reach as Projects Struggle

Cam White | September 15, 2023

By Nichola Groom (Reuters) – President Joe Biden’s goal to deploy 30,000 megawatts of offshore wind along U.S. coastlines this decade to fight climate change may be unattainable due to soaring costs and supply chain delays, according to forecasters and industry insiders. The 2030 target, unveiled shortly after Biden took office, is central to Biden’s […]

Which Creditors Will Have Priority for Citgo Share Auction?

Cam White | September 12, 2023

By Marianna Parraga HOUSTON (Reuters) – A U.S. judge in Delaware on Tuesday will set the procedure for an upcoming auction of shares in a parent of Venezuela-owned oil refiner Citgo Petroleum to satisfy more than $20 billion in claims by creditors. Dozens of companies and bondholders have flocked to U.S. courts to press claims […]

Chevron Australia LNG Workers Start Strike. What Happens Now?

Cam White | September 8, 2023

By Emily Chow and Lewis Jackson SINGAPORE/SYDNEY (Reuters) – Workers at Chevron’s liquefied natural gas (LNG) projects in Australia, which produce 5.1% of the world’s supply of the super-chilled fuel, went on strike on Friday after mediation talks ended without a deal. WHAT’S NEXT? Unions kicked off action with short work stoppages and bans on […]

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