Saturday, November 23, 2024

Hedge Fund Challenges $6 Billion Texas Land Bank in Activist Play

From Bloomberg Texas Pacific Land Trust, one of the Permian Basin’s biggest landowners, is facing off against one of its largest shareholders over who will fill an open trustee job. Horizon Kinetics LLC, which owns a 23 percent stake, has urged the trust to modernize its structure and appoint Eric L. Oliver after the previous trustee stepped down due to ill health. Texas

Plastic, Pipes, LNG: Canadian Gas Rushes to Avoid Oil Sands Fate

From Bloomberg As Canada’s oil producers limp along, hamstrung by pipeline bottlenecks that have hurt prices for their crude, the nation’s gas industry is working on a flurry of export and chemicals projects to avoid the same fate. Canada’s natural gas has long sold at a discount to the U.S. benchmark, due largely to the cost of transporting the product

How Much Oil Is Displaced by Electric Vehicles? Not Much, So Far

From Bloomberg Electric vehicles are taking ever-bigger bites out of global oil demand, but they haven’t yet caught up with the growing size of the pie. Gasoline and diesel displacement by electric vehicles will grow by 96,000 barrels a day this year, BloombergNEF said in a report Tuesday. That brings the lost cumulative demand since 2011 at 352,000 barrels a day, about