US Gulf Coast facilities prepare for winter freezes
AccuWeather and the NOAA are separately forecasting a warmer than usual...
AccuWeather and the NOAA are separately forecasting a warmer than usual winter for the US Gulf Coast, but with brief spells of freezing temperatures. The trend creates a risk for chemical facilities and refineries in the region even though many have made winterization upgrades since Winter Storm Uri in 2021.
Unclear business models, lengthy permit timelines and financing hurdles...
Unclear business models, lengthy permit timelines and financing hurdles are slowing plans to develop more than 220 million short tons of annual CO2 capture capacity across US Gulf Coast industries like ammonia, hydrogen and methanol. Still, cost advantages, existing infrastructure and government support position the region as a potential industrial decarbonization leader.
Oil prices ease on surplus concerns, dollar strength
(Reuters) -Oil prices edged lower on Monday in...
(Reuters) -Oil prices edged lower on Monday in thin trade ahead of the Christmas holiday on concerns about a supply surplus next year and a strengthened dollar.
Brent crude futures settled down 31 cents, or 0.43%, at $72.63 a barrel. U.S. West Texas Intermediate crude futures fell 22 cents, or 0.32%, to $69.24 a barrel.
Macquarie analysts projected a growing supply surplus for next year, which will hold Brent prices to an average of $70.50 a barrel, down from this year's average of $79.64, they said in a December report.
Concerns about European supply eased on reports the Druzhba pipeline, which sends Russian and Kazakh oil to Hungary, Slovakia, the Czech Republic and Germany, has restarted after halting on Thursday due to technical problems at a Russian pumping station.
The U.S. dollar was hovering around two-year highs on Monday morning, after hitting that milestone on Friday.
It’s almost time to unwrap those presents: Christmas...
It’s almost time to unwrap those presents: Christmas is coming up on Dec. 25,🎄 and so is Hanukkah 🕎, the eight-day Jewish festival of lights, which begins this year on the evening of the 25th.
With all this holiday activity, it’s worth keeping in mind what will be open and closed when. Here’s our quick guide.
Is the stock market open on Christmas Eve and Christmas Day?
The two major stock markets — the New York Stock Exchange and the Nasdaq — will close early on Dec. 24, at 1 p.m. Eastern time, and will remain closed on Dec. 25.🎄
Bond markets will close at 2 p.m. on Dec. 24 and will remain closed on Dec. 25.🎄
Vermilion Energy to Acquire Canada's Westbrick for $745MM
Canada’s Vermilion Energy Inc. has entered into an agreement to acquire...
Canada’s Vermilion Energy Inc. has entered into an agreement to acquire gas-heavy production and assets from privately held Westbrick Energy Ltd. for CA$1.075 billion ($US746 million), Vermilion said Dec. 23.
Vermilion said it will acquire Calgary, Alberta-based Westbrick’s portfolio of Alberta Deep Basin assets, including more than 700 drilling locations and 50,000 boe/d (75% gas, 25% liquids) and four operated gas plants with 102 MMcf/d of capacity.
Vermilion will acquire 770,000 net acres of land, although the deal excludes undeveloped Duvernay rights on approximately 290,000 net acres retained by Westbrick shareholders.
