Puerto Rico is ending talks to negotiate a $20 billion liquefied natural gas contract with New Fortress Energy, Bloomberg News reported on July 23, citing a negotiator.
U.S. refining capacity grew to 18.4 million barrels per day in 2024, with Motiva’s Port Arthur facility overtaking Marathon’s Galveston Bay refinery as the nation’s largest. While the trend shows increased output, looming shutdowns could reverse gains seen this year, the EIA said.
BW LPG has ended its $10 million investment in an onshore LPG terminal at JNPA in Navi Mumbai, India, to refocus on shipping and trading amid market uncertainty.
Top U.S. oilfield firms SLB, Halliburton, and Baker Hughes brace for a downturn as falling oil prices force producers to cut drilling budgets and scale back activity, particularly in North America.
U.S. exports of natural gas liquids hit a record high in April despite reduced shipments to China, as global buyers including India and Brazil boosted imports amid shifting trade flows.
Just 100 days into President Donald Trump's second term, oil prices have slumped over 20% to below many U.S. producers' breakeven costs as investors lose confidence amid tariff and policy uncertainty - undercutting Trump's push for U.S. energy dominance.
Valero Energy plans to shut down its Benicia, California, refinery by April 2026, citing a challenging regulatory environment and high maintenance costs. The closure adds to growing concerns about fuel supply in the state.
Oil prices plunged nearly 8% as China announced sweeping tariffs on U.S. goods, fueling global recession fears and rattling energy markets. Brent and WTI hit four-year lows amid escalating trade tensions and OPEC+ supply moves.
U.S. natural gas prices are already up by around 80% from a year ago, but are due for a fresh jolt from the knock-on effects of the latest round of trade tariffs imposed by the U.S. government on goods entering the country.
Elliott Investment Management has filed suit against Phillips 66, accusing the company of boardroom gamesmanship and seeking nomination rights for four director seats at the 2025 annual meeting.
Tidewater Midstream and Infrastructure Ltd. has reached a deal to sell its Brazeau River Complex (BRC) roadway network to Canadian Resource Roadways LP (CRR) for CAD$24 million ($17.76 million).
Weak refinery and export demand are pressuring Midland crude prices along the Texas Gulf Coast, narrowing the price spread with Houston as Permian production recovers.
Oil prices fell more than 2% on Wednesday as a large build in U.S. crude and gasoline stockpiles signaled weaker demand, while worries about a new China-U.S. trade war fueled fears of softer economic growth.
The U.S. Senate on Monday confirmed Chris Wright, a fracking executive, to be President Donald Trump's energy secretary.
Oil prices fell on Tuesday after U.S. President Donald Trump declared a national energy emergency on his first day in office, raising concerns of higher U.S. output in a market widely expected to be oversupplied this year.
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