Energy

Blackstone is reportedly in advanced discussions to purchase minority stakes in EQT Corp’s interstate natural gas pipelines for approximately $3.5 billion. Key details include: Purpose of the Acquisition: This deal would enable EQT to reduce its substantial debt, which has accumulated following its acquisition of Equitrans Midstream earlier this year. Investment Structure: Blackstone plans to […]

Donald Trump has pledged to dismantle President Joe Biden’s climate subsidies if elected, yet many of his close allies are significantly benefiting from these very incentives through substantial investments in clean energy sectors. Key points include: Beneficiaries of the Inflation Reduction Act (IRA): At least seven of Trump’s allies, including Jared Kushner and Terry Branstad, […]

Equinor has indicated a potential decrease in its renewable energy investments towards 2030 following its recent acquisition of a stake in Orsted. Here are the key details: Acquisition Details: On October 7, Equinor announced a $2.5 billion purchase of a 9.8% stake in Orsted, which it plans to increase to 10% pending regulatory approval. This […]

Russia’s crude oil exports from its three main western ports are set to decline by 13% in November, totaling approximately 1.95 million barrels per day (about 8 million metric tons). This reduction follows the conclusion of the refinery maintenance season. Key points include: Export Volume Drop: The expected drop in exports from Primorsk, Ust-Luga, and […]

The Three Mile Island nuclear plant in Pennsylvania, long dormant since the shutdown of its remaining reactor in 2019, is gearing up for a significant revival. Here are the key points: Revival Plans: Constellation Energy plans to restart the plant to supply power to Microsoft’s data centers. The 20-year power contract will see Microsoft paying […]

The shift towards lighter crude from the U.S. Permian Basin poses challenges for refiners, as West Texas Midland crude is becoming lighter, which may reduce its appeal. Key points include: Crude Characteristics: The gravity of WTI Midland crude is reportedly between 41 and 44 degrees, higher than its historical range of 38 to 42 degrees. […]

Amin Nasser, CEO of Saudi Aramco, expressed a “fairly bullish” outlook on China’s oil demand, particularly in light of the government’s recent stimulus package aimed at boosting economic growth. Key points include: Increased Demand for Specific Fuels: Nasser highlighted a growing need for jet fuel and naphtha, driven by the rise in liquid-to-chemical projects in […]

The International Energy Agency (IEA) has forecasted a surplus in global oil supply for 2025, primarily due to weak demand from China. Key points include: China’s Demand Growth: The IEA anticipates that China’s oil demand growth will remain subdued despite recent stimulus measures from the government. As the Chinese economy slows to around 4% growth, […]

SLB, formerly known as Schlumberger, announced a 13% rise in its third-quarter profit, but expressed concerns over muted revenue growth for the upcoming quarter due to budget tightening among producers and weak oil prices. Key points include: Profit and Revenue: Net income attributable to SLB rose to $1.27 billion, with per-share profit reaching 89 cents, […]

Oil futures experienced a significant drop on Friday, with prices declining over 7% for the week due to concerns about China’s economic growth and a mixed outlook for the Middle East. Key highlights include: Price Movement: Brent crude fell by $1.39 (1.87%) to $73.06 per barrel, while U.S. West Texas Intermediate (WTI) dropped by $1.45 […]