Tejon Treating and Carbon Solutions LLC has completed a significant expansion of its Mongoose amine treating plant and gas gathering network in West Texas, increasing its capacity to 70 million cubic feet per day. This upgrade includes new delivery points and full electrification of the plant, enhancing its ability to process sour gas from Midland basin producers and reduce emissions.
Sempra has secured final federal approval from the Energy Department for its planned Port Arthur liquefied natural gas export facility in Texas. The Biden administration previously paused approvals for new LNG projects pending an assessment of their impact on climate change.
The Department of Energy is to cancel $3.7 billion in grants awarded...
The Department of Energy is to cancel $3.7 billion in grants awarded to clean energy projects such as carbon capture and storage, Energy Secretary Chris Wright has announced. The grants, mostly awarded during President Joe Biden's final months in office, also supported cleaner cement and natural gas.
Jamie Dimon’s retirement is “several years” away. You...
Jamie Dimon’s retirement is “several years” away. You won’t have to learn the name of a new top dog at JPMorgan just yet. Although the 69-year-old CEO shocked the finance world last year by saying he’d step down within the next five years, ramping up speculation about possible successors, Dimon said in an interview that Fox Business aired yesterday that his retirement wasn’t imminent, although “it’s always up to God and the board.” He added, “I love what I do.”
Ukraine and Russia did not reach a ceasefire agreement during their second round of peace talks yesterday, but they did agree to further prisoner exchanges. The talks, which only lasted about an hour, were largely overshadowed by Ukraine’s significant drone attack on Russia’s bomber fleet on Sunday.
Bristol-Myers Squibb agreed to an $11 billion deal to license a next-generation cancer drug from BioNTech.
Italy’s Mount Etna erupted yesterday, sending smoke into the air “several kilometers high” and forcing tourists to flee.
Marc Maron will end his popular podcast WTF With Marc Maron this fall after more than 15 years of high-profile interviews.
Oil rises on Iran, Russia and Canada supply concerns
(Reuters) - Oil prices rose in early Asia trade on Tuesday on concerns...
(Reuters) - Oil prices rose in early Asia trade on Tuesday on concerns about supply, with Iran set to reject a U.S. nuclear deal proposal that would be key to easing sanctions on the major oil producer, and with production in Canada hit by wildfires.
Brent crude futures gained 55 cents, or 0.85%, to $65.18 a barrel by 0000 GMT. U.S. West Texas Intermediate crude was up 59 cents, or 0.94%, to $63.11 a barrel, after rising around 1% earlier in the session.
Both contracts gained nearly 3% in the previous session after OPEC+ agreed to keep output increases in July at 411,000 barrels per day, which was less than some in the market had feared and the same hike as in the previous two months.
Geopolitical tensions supported prices on Tuesday. Iran was poised to reject a U.S. proposal to end a decades-old nuclear dispute, an Iranian diplomat said on Monday, saying it fails to address Tehran's interests or soften Washington's stance on uranium enrichment.
If nuclear talks between the U.S. and Iran fail, it could mean continued sanctions on Iran, which would limit Iranian supply and be supportive of oil prices.
The ongoing conflict between Russia and Ukraine continued to stoke supply concerns and geopolitical risk premiums.
