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(Reuters) - U.S. oil producers profiting from sky-high prices are doling out billions to shareholders and building cash reserves, a strategy irking lawmakers and voters struggling with record fuel prices while winning over Wall Street. Soaring fuel prices have boosted inflation to a 40-year record and are expected to drive up U.S. gasoline by more... Continue Reading →
(Reuters) - Oil and gas group Repsol (REP.MC) has agreed to sell a quarter of its newly-created renewable energy unit to Credit Agricole Assurances (CAGR.PA) and asset manager Energy Infrastructure Partners for 905 million euros ($964 million), the company said on Thursday. The deal values the whole unit, which is building wind, solar and hydro plants in Spain, the... Continue Reading →
(Reuters) - Italian oil company Eni SpA and Spain's Repsol SA could begin shipping Venezuelan oil to Europe as soon as next month to make up for Russian crude, five people familiar with the matter said, resuming oil-for-debt swaps halted two years ago when Washington stepped up sanctions on Venezuela. The volume of oil Eni... Continue Reading →
(Reuters) Tenaris SA , a global manufacturer of steel pipes, said on Thursday it will pay $78.1 million to resolve U.S. probes into its alleged payment of bribes to win business from Brazil's state-owned oil company Petrobras. The Luxembourg-based company will pay a $25 million civil fine plus $53.1 million in disgorgement and interest to... Continue Reading →
(OE) Forecasters on Thursday amped up their outlook for the U.S. Atlantic hurricane season, saying warm sea temperatures and the absence of a moderating wind shear portend a "well-above average" number of storms. Colorado State University researchers raised their estimate for tropical storms, hurricanes and major hurricanes by one apiece to 20, 10 and five, respectively. There is a... Continue Reading →
(Reuters) - The United States exported 7.29 million tonnes of liquefied natural gas (LNG) last month, second highest on record, as sales to Europe and South America expanded, according to Refinitiv Eikon data. The United States is on track to become the world's largest LNG exporter this year, topping Australia and Qatar, as producers work... Continue Reading →
(Reuters) - As liquefied natural gas (LNG) producers try to take advantage of a global energy shift triggered by Europe's move to become independent from Russian gas, Latin America's only two LNG exporters are moving in opposite directions. In Peru, LNG shipments are ramping up fast with special emphasis on Europe, where a combination of... Continue Reading →
(Reuters) - Russia's invasion of Ukraine has reconfigured the global oil market, with African suppliers stepping in to meet European demand and Moscow, stung by Western sanctions, increasingly tapping risky ship-to-ship transfers to get its crude to Asia. The reroutings mark the biggest supply-side shakeup of the global oil trade since the U.S. shale revolution... Continue Reading →
(Reuters) The Biden administration on Thursday proposed auctioning five areas off the coast of California for offshore wind development, a critical milestone in expanding the nascent U.S. industry to Pacific waters. It is the latest in a government effort to put wind turbines along every U.S. coastline, with a goal of generating 30 gigawatts of... Continue Reading →
(Reuters) - Shareholders of Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N) on Wednesday voted in favor of the energy transition strategies proposed by the two largest U.S. oil producers, following similar support of European oil firms' climate plans. Major oil producers this year flipped the script and won over investors with recent steps to minimize carbon emissions and... Continue Reading →
Brazil Energy Insight 