U.S. refiner Phillips 66 told shareholders on Tuesday that Elliott Investment Management’s demands for breaking up the company are misguided, based on inflated and unrealistic assumptions, and would destroy shareholder value. Activist hedge fund Elliott Investment Management has called on Phillips 66 to spin off its midstream business and tighten up operations. Elliott, which has an investment worth more than $2.5 billion in Phillips 66, last week made the case to the refiner’s shareholders that “Phillips investors' patience has…

U.S. refiner Phillips 66 told shareholders on Tuesday that Elliott Investment Management’s demands for breaking up the company are misguided, based on inflated and unrealistic assumptions, and would destroy shareholder value. Activist hedge fund Elliott Investment Management has called on Phillips 66 to spin off its midstream business and tighten up operations. Elliott, which has an investment worth more than $2.5 billion in Phillips 66, last week made the case to the refiner’s shareholders that “Phillips investors' patience has…

U.S. refiner Phillips 66 told shareholders on Tuesday that Elliott Investment Management’s demands for breaking up the company are misguided, based on inflated and unrealistic assumptions, and would destroy shareholder value. Activist hedge fund Elliott Investment Management has called on Phillips 66 to spin off its midstream business and tighten up operations. Elliott, which has an investment worth more than $2.5 billion in Phillips 66, last week made the case to the refiner’s shareholders that “Phillips investors' patience has…

The development of oil projects in Alaska’s North Slope and Arctic is boosting jobs growth in these areas more than the average for the state, according to the latest figures by the Alaska Department of Labor and Workforce Development. Job numbers jumped by 7% in the North Slope and Northwest Arctic regions last year, compared to broadly flat job numbers for the state of Alaska. In Alaska’s north, ConocoPhillips is developing the Willow oil project, which was approved by the Biden Administration in 2023. The $8-billion project is expected…

The development of oil projects in Alaska’s North Slope and Arctic is boosting jobs growth in these areas more than the average for the state, according to the latest figures by the Alaska Department of Labor and Workforce Development. Job numbers jumped by 7% in the North Slope and Northwest Arctic regions last year, compared to broadly flat job numbers for the state of Alaska. In Alaska’s north, ConocoPhillips is developing the Willow oil project, which was approved by the Biden Administration in 2023. The $8-billion project is expected…

The oil market meltdown in recent days could pose risks to the Russian economy, Russia’s Central Bank Governor Elvira Nabiullina said on Tuesday. The escalation of the tariff wars could negatively affect Russia’s economy, TASS news agency quoted the governor as telling Russian lawmakers in parliament today. “The main channel of influence may lie through fluctuations of oil prices, a decline of oil prices,” Nabiullina was quoted as saying. “If the escalation of the tariff wars continues, this usually leads to a decline…

India’s largest power utility, NTPC, is looking to hire consultants for feasibility studies for small modular reactors that could potentially replace some of the utility’s old coal-fired power plants, Reuters reports, quoting a tender document. Small modular reactors (SMR) are believed to be simpler and cheaper to build and install. Because of their smaller size, it is possible to install SMRs on sites that are not suitable for bigger reactors. They are also significantly cheaper and faster to build than conventional reactors…

India’s largest power utility, NTPC, is looking to hire consultants for feasibility studies for small modular reactors that could potentially replace some of the utility’s old coal-fired power plants, Reuters reports, quoting a tender document. Small modular reactors (SMR) are believed to be simpler and cheaper to build and install. Because of their smaller size, it is possible to install SMRs on sites that are not suitable for bigger reactors. They are also significantly cheaper and faster to build than conventional reactors…

The trade war is prompting China’s LNG buyers to resell the cargoes they are buying from the U.S. as Chinese tariffs on American goods are raising the costs of U.S. LNG imports, analysts and traders have told Reuters. LNG import demand in China has been weaker this year amid comfortably full winter inventories. Chinese LNG imports are expected to drop this year, according to the latest estimates from BloombergNEF. China is set to see the first annual decline in LNG imports since 2022. The trade war and the new tariffs on U.S. LNG are driving…

The trade war is prompting China’s LNG buyers to resell the cargoes they are buying from the U.S. as Chinese tariffs on American goods are raising the costs of U.S. LNG imports, analysts and traders have told Reuters. LNG import demand in China has been weaker this year amid comfortably full winter inventories. Chinese LNG imports are expected to drop this year, according to the latest estimates from BloombergNEF. China is set to see the first annual decline in LNG imports since 2022. The trade war and the new tariffs on U.S. LNG are driving…

Last week, U.S. President Donald Trump imposed a minimum 10% tariff on all imports from 90 countries, roiling financial markets across the globe. U.S. customs agents began collecting the unilateral tariff at customs warehouses, seaports and airports on Saturday, with higher levies on goods from 57 larger trading partners set to start in the current week. As widely expected, China was the hardest hit by the tariffs: China now faces a hefty 64.9% tariff, including an additional 34% duty imposed by former President Trump on top of existing tariffs…

Oil prices dropped off a cliff last week after President Trump announced a barrage of tariffs on global trading partners, triggering panic in the trading world. The effect has now rippled across the energy industry, set to discourage production growth—and hurt oilfield service companies. The sector was already worrying about the steel and aluminum tariffs that President Trump introduced last month as part of his radical efforts to revive U.S. industries. The tariffs stand at a hefty 25% and apply to all steel and aluminum imports into the…

Iran has awarded US$17 billion of contracts to attempt to reverse a dramatic projected production decline from the world’s biggest gas reservoir. Its South Pars field spans 3,700 square kilometres and holds an estimated 14.2 trillion cubic metres (tcm) of gas reserves plus 18 billion barrels of gas condensate. In addition to generating nearly 80% of Iran’s gas production, it also accounts for around 40% of its total estimated 33.8 tcm of gas reserves (mainly located in the southern Fars, Bushehr, and Hormozgan regions). The other part…

The U.S. Energy Information Administration (EIA) recently reported that U.S. natural gas consumption set new winter and summer consumption records in 2024, highlighting the growing importance of natural gas in the global energy mix.  This surge in consumption comes amid record production levels, even as drilling activity remains subdued. The implications of these trends are significant, influencing everything from energy prices to power generation choices. Record-Breaking Natural Gas Consumption and Production According to the latest EIA data,…

Not only is the world’s second largest economy resisting calls to phase out coal – they’re revolutionizing it. One Chinese company has gone all in on artificial intelligence to run its coal mining operations – and now it’s raking in more profits than your average investment bank. Even with coal prices in decline, the mine posted a 40% profit margin in 2024. With the one-two punch of energy security and profitability, coal is likely here to stay in the Chinese energy mix, climate pledges be damned. The Dahaize Mine…

Diamondback Energy, Inc. (NASDAQ: FANG) President Kaes Van’t Hof is demanding answers from the Trump administration as to how he plans to balance the economic destruction of tariffs with a stated plan to increase American shale output.  Van’t Hof took to social media to publicly call for clarification from the White House, suggesting that the shale industry’s contribution to the U.S. economy and its status as a global oil powerhouse deserves to know what the risk is. For America’s shale producers, it’s been a…

Diamondback Energy, Inc. (NASDAQ: FANG) President Kaes Van’t Hof is demanding answers from the Trump administration as to how he plans to balance the economic destruction of tariffs with a stated plan to increase American shale output.  Van’t Hof took to social media to publicly call for clarification from the White House, suggesting that the shale industry’s contribution to the U.S. economy and its status as a global oil powerhouse deserves to know what the risk is. For America’s shale producers, it’s been a…

The escalating trade war between the US and China could increase liquefied natural gas flows to energy-stricken Europe, as China remains on a multi-month buying strike.  Bloomberg cited marine traffic data from Kpler, showing that no US LNG shipments are currently inbound or about to be inbound to China. "Zero LNG trade between China and the US is likely to continue for the rest of 2025, with a further increase in China's tariff on US LNG from the previous 15% to 49%, as a counterstrike against Trump's steepest tariffs," Wei…

Diamondback Energy, Inc. (NASDAQ: FANG) President Kaes Van’t Hof is demanding answers from the Trump administration as to how he plans to balance the economic destruction of tariffs with a stated plan to increase American shale output.  Van’t Hof took to social media to publicly call for clarification from the White House, suggesting that the shale industry’s contribution to the U.S. economy and its status as a global oil powerhouse deserves to know what the risk is. For America’s shale producers, it’s been a…

Far removed from the battlefields of Ukraine, the United States, European Union and Russia are facing off on a second front in a struggle over the nuclear energy sector and control of uranium supply chains. While the war in Ukraine may have ground to a stalemate amid a halting search for a ceasefire, Russia is clearly winning the fight over nuclear energy – at least for now.  Rosatom, the Russian state-controlled nuclear entity, holds commanding field position in the decarbonized power sector, which allows the Kremlin to punch far above…