Monday, December 23, 2024
Enterprise receives approval to build Texas deepwater oil port as exports soar- oil and gas 360

Enterprise receives approval to build Texas deepwater oil port as exports soar

World Oil (Bloomberg) – Enterprise Products Partners overcame the last regulatory hurdle to build a proposed deepwater oil port off the coast of Texas aimed at helping record oil exports to flow to markets in Asia and Europe. The United States Maritime Administration issued a license for the Sea Port Oil Terminal, which will allow Enterprise to move forward with

OPEC+ faces fork in the road- oil and gas 360

OPEC+ faces fork in the road

Oil Price OPEC+ once again extended its oil production cuts this month. The decision was anything but unexpected and, unlike previous production policy announcements, it had the desired effect on prices. However, it could only work for so long. Soon, OPEC will need to make a decision. Last year, oil traders were almost exclusively focused on demand and threats thereof,

US electric utilities brace for surge in power demand from data centers- oil and gas 360

US electric utilities brace for surge in power demand from data centers

Yahoo Finance U.S. electric utilities predict a tidal wave of new demand from data centers powering technology like generative AI, with some power companies projecting electricity sales growth several times higher than estimates just months earlier. Nine of the top 10 U.S. electric utilities said data centers were a main source of customer growth, leading many to revise up capital

UPDATE 2-US and Japan announce joint partnership to accelerate nuclear fusion- oil and gas 360

UPDATE 2-US and Japan announce joint partnership to accelerate nuclear fusion

Yahoo Finance WASHINGTON – The United States and Japan announced a joint partnership to accelerate development and commercialization of nuclear fusion, the U.S. Department of Energy said on Wednesday. The partnership was announced as Japanese Prime Minister Fumio Kishida was in Washington for a summit with President Joe Biden. U.S. Deputy Secretary of Energy David Turk and the Japan Minister

Investors dump renewable energy funds amid U.S. policy uncertainty- oil and gas 360

Investors dump renewable energy funds amid U.S. policy uncertainty

Oil Price  Uncertainty about the pace of renewable energy growth with the U.S. presidential election approaching has pushed investors to withdraw money from funds invested in renewables stocks—so much that these funds booked the biggest quarterly withdrawal ever in the first quarter of the year. Exchange traded funds that invest in stocks of renewable energy firms saw a combined outflow

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories increase by 5.8 million barrels

Weekly Crude Oil Storage as of April 5, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.8 million barrels from the previous week.  At 457.3 million barrels, U.S. crude oil inventories are 2% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,