Korean Port Authority to Invest in Alternative Marine Fuel
The Ulsan Port Authority (UPA) has signed an equity investment agreement worth $17.6 million with Hyundai Oil Terminal Corporation for the alternative marine fuel supply chain.
NOG, SM Energy Exercise Option to Acquire Stake in Uintah Basin Assets
The assets are located primarily in Uintah and Duchesne Counties, Utah, and include approximately 6,500 net acres.
TotalEnergies to Divest Stake in Pakistan Fuel Assets to Gunvor
TPPL has a retail network of more than 800 service stations, fuel logistics, and lubricants activities.
Saudi Aramco Seeks More China Deals in Oil to Chemicals Push
Saudi Aramco is looking to invest in more chemical plants in China this year and next.
USA EIA Lowers Brent Oil Price Forecast for 2024 and 2025
In its latest short term energy outlook, the EIA lowered its Brent spot average price forecast for this year and next year.
Occidental Again Beats Expectations with $1 Billion Q2 Profit
Occidental increased its net income nearly two times compared to the same three-month period a year ago and the first quarter of 2024 on higher oil and gas volumes and prices.
CNOOC Gas Discovery in South China Sea Estimated to Hold Over 3.5 Tcf
'It is the first large-size ultra-shallow gas field in ultra-deep water in the world, which opens up a new area of exploration in deep waters'.
OPEC+ Ministers Uphold Current Production Policy
'They stressed that this plan could be adjusted or halted if needed', Rystad Energy Senior Analyst Svetlana Tretyakova said.
Over a Dozen Grid Resilience Projects to Get $2.2B Funding from US DOE
The DOE announced a $2.2 billion investment in eight grid projects across 18 states to bolster the U.S.' power network against extreme weather, lower costs, and support clean energy growth.
Relief for China Refiners as Jet Fuel Demand Spikes
Jet fuel demand in China is on the mend as flights return to the skies, offering some support to domestic refiners grappling with muted diesel and gasoline consumption.
Oil Billionaire Is Said to Eye $3B Franklin Mountain Sale
Closely held Permian producers have become hot property in the past two years.
Oil Rallies on Mounting Risks and Falling Stockpiles
Rising geopolitical risks coupled with falling stockpiles to drive futures higher on Wednesday.
Quantum to Acquire Cogentrix Energy for $3B
The Cogentrix platform is comprised of 5.3 gigawatts of efficient and flexible natural gas-fired power plants.
Oil Prices Receiving Support from Growing Concerns About Supply Shortages
'Oil prices are receiving support from growing concerns about supply shortages and disruptions due to ongoing geopolitical tensions in the Middle East'.
USA DOE Plans to Buy 3.5 Million More Barrels for Oil Reserve
The DOE opened bidding for the supply of up to 1.5 million barrels of oil to be deposited into the SPR and plans another solicitation for two million barrels.
Maersk Ship Order Shows Change in View on LNG as Marine Fuel
The shipping industry is under pressure to decarbonize but still largely relies on oil-derived fuel.
Trace Midstream to Acquire Gas Assets in Northern Delaware Basin
'With substantial natural gas midstream constraints across the Northern Delaware, we are committed to expanding LM Energy's assets and providing additional services for the region's producers'.
Aramco to Acquire Additional Stake in Refining Complex from Sumitomo
Aramco is acquiring the stake from Tokyo-based Sumitomo Chemical for $702 million.
Cheniere Inks LNG Supply Deal with Galp
Under the SPA, Portuguese energy company Galp will purchase approximately 0.5 million metric tons per annum (mtpa) of LNG for 20 years from Cheniere Marketing on a free-on-board basis.
Wisconsin Rolls Out Home Energy Rebates Program
Wisconsin is offering $149 million in rebates to help households access insulation, air sealing, heat pumps and other energy efficiency improvements.
