Three Mile Island Unit 1 to shut by Sept. 30

The owner of the plant where North America’s worst nuclear power-related accident took place four decades ago, confirmed the facility’s lone remaining operating unit will shut down this September, Kallanish Energy reports. Exelon Generation said Three Mile Island (Tmi) Generating Station Unit 1, located near Middletown, Pennsylvania, on an island south of the state capital city

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West Virginia governor’s mines sued by feds

The U.S. government sued nearly two dozen of West Virginia Gov. Jim Justice’s coal companies Tuesday to get them to pay roughly $4.8 million in unpaid mine safety fines. The civil lawsuit was filed by federal prosecutors in Virginia on behalf of the U.S. Department of Labor and the Mine Safety and Health Administration, The Associated

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Iraq planning $53B megaproject with Xom, PetroChina

Iraq is planning a $53 billion megaproject with global energy giants ExxonMobil and PetroChina to use seawater from the Persian Gulf to boost oil production, Iraqi prime minister Adel Abdul-Mahdi announced Tuesday, Kallanish Energy finds. The project would boost output from Iraq’s southern oilfields, and includes plans to capture natural gas, which is currently being

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Oil plummets 1+%, as U.S.-China trade war intensifies

Crude oil prices dropped Tuesday as renewed doubts of a U.S.-China trade pact stoked concerns over global growth, while U.S. sanctions on Iran and Venezuela tightened supply and helped to curtail losses, Kallanish Energy reports. President Trump Sunday said he would raise tariffs on $200 billion worth of Chinese goods from 10-25% by Friday. The comments

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Murphy announces $1.38B deepwater Gulf of Mexico acquisition

Murphy Oil Corp. announced its Murphy Exploration & Production Company – USA unit is acquiring deepwater Gulf of Mexico assets from LLOG Exploration Offshore and LLOG Bluewater Holdings for $1.38 billion in cash, Kallanish Energy reports. Additional contingent consideration payments are based on the following: up to $200 million in the event revenue from certain

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Goldman not expecting oil to rally despite tightening sanctions

Goldman Sachs expects the U.S.’s decision to end exemptions from sanctions for eight countries still buying oil from Iran to have a limited impact on crude prices — even though the timing is likely to have caught energy market participants by surprise. “While we acknowledge the near-term upside price risks, we reiterate our fundamentally derived

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Venezuela bypasses U.S. sanctions by selling crude via Russia

Venezuelan President Nicolas Maduro is moving cash from Venezuelan oil sales through Russian state energy giant Rosneft, as he looks to evade U.S. sanctions designed to oust him from power, according to sources and documents reviewed by Reuters. The sales are the latest sign of Venezuela’s growing dependence on Russia, as the U.S. tightens sanctions on Maduro,

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Tellurian’s Driftwood receives Ferc authorization

Liquefied natural gas exporter Tellurian said Thursday the Federal Energy Regulatory Commission has issued the order granting authorization for Driftwood LNG, a proposed 27.6 million tonnes per annum (Mtpa) liquefaction export facility near Lake Charles, Louisiana. Also authorized was the associated Driftwood pipeline, a 96-mile proposed line delivering natural gas to the facility, Kallanish Energy

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Oil markets tightening due to U.S. sanctions: IEA

Crude oil markets are tightening, the International Energy Agency said Thursday, Kallanish Energy reports. The agency warned, however, an “extraordinarily” wide range of views about the health of the global economy was making it difficult to forecast oil prices. It comes at a time when the energy industry is concerned surging U.S. crude inventories and an economic

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Executive order aims to prevent states from blocking pipelines

President Trump today will sign an executive order designed to prevent states from blocking pipelines and other energy infrastructure by using authority they feel is afforded them under the federal Clean Water Act, Kallanish Energy reports. Under Section 401 of the Clean Water Act, companies must obtain certifications from a state before they can build federally-approved

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Crude prices fall as Russia suggests it will raise output

Crude oil prices fell Tuesday from five-month highs as Russian comments signaled the possible easing of the Opec+ supply-cutting deal overcame concern violence in Libya could tighten global markets, Kallanish Energy reports. A U.S. threat to place tariffs on hundreds of European goods and a downgrade by the International Monetary Fund in its global economic

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Aramco breaks demand record, bond tops $100B

Orders for Saudi Aramco’s debut international bonds topped $100 billion, a strong vote of market confidence for the world’s largest oil company, Kallanish Energy reports. State-owned Aramco raised roughly $12 billion from the deal, which was to be priced late Tuesday and is seen as a gauge of potential investor interest in the Saudi company’s eventual initial

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Crude hits 5-month high, as fighting threatens Libyan output

Crude oil prices rose to a five-month high Monday, on expectations for tighter global supply due to fighting in Libya, Opec+-led cuts and U.S. sanctions against Iran and Venezuela. International benchmark Brent futures were up 69 cents, or 1%, to $71.03 per barrel. U.S. West Texas Intermediate crude settled up 2.1%, at $64.40/Bbl, and hit its highest level since

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Brent crude tops $70 for first time since November

Brent crude oil prices Thursday pushed through $70 per barrel for the first time in nearly five months, as expectations of tight global supply outweighed pressure from rising U.S. production and lower global demand, Kallanish Energy reports. Brent futures touched $70.03/Bbl, the highest level since Nov. 12, when it last traded above $70/Bbl. The international benchmark for

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LNG will be big part of China-U.S. trade once tensions resolved: CNOOC

Liquefied natural gas is expected to become a big part of China-U.S. trade once the dispute is resolved between the two countries, a senior executive from China National Offshore Oil Corp. (Cnooc) said Wednesday. LNG will also continue to dominate China’s natural gas imports, having accounted for 60% of its gas imports in 2018, said Cnooc vice

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