Despite a dip in first-quarter profits, major US refiners, including...
Despite a dip in first-quarter profits, major US refiners, including Marathon Petroleum, Phillips 66 and Valero Energy, returned a combined $5.5 billion to shareholders through stock buybacks and dividends, highlighting a strategic focus on capital returns. The Energy Information Administration forecasts higher refinery runs in the third quarter, driven by a positive demand outlook.
Golden Pass LNG contractor files for bankruptcy protection
Zachry Holdings, the lead contractor for QatarEnergy and ExxonMobil's...
Zachry Holdings, the lead contractor for QatarEnergy and ExxonMobil's Golden Pass LNG export facility in Texas, has filed for Chapter 11 bankruptcy protection, blaming cost challenges and unresolved negotiations for insolvency. Despite this setback, Exxon remains committed to completing the project and is working with other stakeholders to ensure a smooth transition and minimal disruption, a spokesperson said.
Route challenges at odds with Permian gas pipeline needs
The Permian Basin will need another major natural gas pipeline soon,...
The Permian Basin will need another major natural gas pipeline soon, but the complexities and costs involved in route planning and construction of long pipelines pose significant challenges, according to Kinetik Midstream CEO Jamie Welch. The longer the pipeline, the higher the costs, which can deter shippers from committing to the project, Welch said.
The Biden administration welcomed Kenyan President William Ruto to the...
The Biden administration welcomed Kenyan President William Ruto to the White House yesterday—the first time an African leader has made an official state visit to Washington in over 15 years, the Financial Times reported. President Biden is trying to bolster the US’ relationship with Africa to counter the growing influence of Russia and China on the continent in hopes that a closer relationship with Nairobi will enhance peace and security globally. As part of the meeting, the US is designating Kenya as a “major non-NATO ally,” the first from sub-Saharan Africa to receive the designation.
NOAA warned this hurricane season could be historically bad. The...
NOAA warned this hurricane season could be historically bad. The National Oceanic and Atmospheric Administration forecast 17 to 25 named tropical storms this upcoming season, the most it has ever predicted in its May outlook. Of those storms, eight to 13 are expected to become hurricanes, with four to seven likely to be Category 3 or higher—about double the usual number. Scientists believe warming temperatures are increasingly leading to more storms and helping to intensify the ones that form. The NOAA will provide an updated forecast in August.
Spot Ethereum ETFs were approved by the SEC in another big win for crypto, following the approval of spot bitcoin ETFs earlier this year.
The bipartisan border security bill failed in the Senate yesterday for the second time, due to Republican opposition and divisions in the Democratic party.
Louisville police released video of the arrest of golf star Scottie Scheffler that appears to undermine the arresting officer’s claim that he was dragged to the ground by Scheffler’s car.
Oreo-maker Mondelez was fined $366 million by the EU for rigging the European chocolate market.
X announced it will hide likes on the platform to encourage users to like “edgy” content without fear of retaliation.
