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Buffett’s Berkshire to buy Dominion Energy gas assets for $4 bln

July 5 (Reuters) - Warren Buffett's Berkshire Hathaway Inc said on Sunday it agreed to buy Dominion Energy Inc's natural gas transmission and storage business for $4 billion in cash, expanding its energy operations while allowing Dominion to focus on its utilities operations. Berkshire's energy unit, Berkshire Hathaway Energy, is...

Canada’s Supreme Court dismisses appeal of long-delayed Trans Mountain oil pipeline

WINNIPEG, Manitoba/OTTAWA, July 2 (Reuters) - Canada's Supreme Court dismissed an appeal on Thursday of a lower court decision that had backed Ottawa's approval of expanding the Trans Mountain oil pipeline, removing a potential major obstacle to completion. The top court posted the decision on its website without further detail. The...

New North American trade deal launches under cloud of disputes, coronavirus

A modernized U.S.-Mexico-Canada trade pact took effect on Wednesday, ensuring continuity for manufacturers and agriculture, but the threat of disputes is exposing cracks in what was meant to be a stronger North American fortress of competitiveness. As the deal kicks in, the Trump administration is threatening Canada with new aluminum...

OPEC has cut oil output by 1.25 mbpd in June

LONDON, June 29 (Reuters) - OPEC has cut oil output in June by 1.25 million barrels per day (bpd) from May levels as it works to implement a supply restraint agreement with Russia and other allies, according to estimates from tanker-tracking company Petro-Logistics. OPEC and its allies, a group known...

BP sells petchems arm for $5 bln in energy transition revamp

LONDON, June 29 (Reuters) - BP has agreed to sell its global petrochemicals business to billionaire Jim Ratcliffe's Ineos for $5 billion, pulling out of a sector widely seen as a key driver of oil demand growth in the coming decades. The surprise move means BP has hit its $15...

Oil drops on sharp uptick in coronavirus cases globally

Oil prices slid on Monday as sharp spikes in new coronavirus infections around the world forced some countries to resume partial lockdowns, raising concerns about the pace of economic recovery and fuel demand. Brent crude had dropped 44 cents, or 1%, to $40.58 a barrel by 0917 GMT, and U.S....

U.S./Canadian oil & gas rig count falls to record low again

June 26 (Reuters) - U.S. and Canadian energy firms cut the number of oil and natural gas rigs operating to a record low again this week even as higher oil prices prompt some producers to start drilling again. The U.S. oil and gas rig count, an early indicator of future...

Oil up after Trump assurance on China trade deal

Oil prices rose on Tuesday in a volatile session after U.S. President Donald Trump soothed jangled nerves over the status of the U.S.-China trade deal. Markets were unsettled by surprise comments from White House trade adviser Peter Navarro who said the hard-won deal was "over". President Trump later wrote in a...

Oil prices transitioning to next phase of cycle

Brent futures prices have risen by more than 80% over the last two months, the fastest increase at any point for more than a quarter of a century, as the market has rebounded from its worst crisis in decades. Front-month Brent futures have averaged nearly $42 per barrel over the...

Oil up on tighter supply, but virus fears cap gains

Oil prices edged higher on Monday as major producers cut crude output, but price gains were limited by worries that a rise in coronavirus infections worldwide might stall a recovery in fuel demand. Brent crude was up 48 cents, or 1.1%, at $42.67 a barrel by 11:45 a.m. EDT (1545...
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Recently Added

Buffett’s Berkshire to buy Dominion Energy gas assets for $4 bln

July 5 (Reuters) - Warren Buffett's Berkshire Hathaway Inc said on Sunday it agreed to buy Dominion Energy Inc's natural gas transmission and storage...

Wall Street sees Exxon paring asset values on weakening demand

HOUSTON, July 2 (Reuters) - Exxon Mobil Corp assets are likely overvalued in light of weak oil-demand outlook, according to Wall Street analysts, and...

Oil falls below $43 on virus fears, still heads for weekly gain

LONDON, July 3 (Reuters) - Oil fell below $43 a barrel on Friday as a resurgence of coronavirus cases raised concern that fuel demand...

Refiner Phillips 66’s return-to-work policy stirs unease as virus flares

DENVER/HOUSTON, July 3 (Reuters) - About 20 employees of U.S. oil refiner Phillips 66 tested positive at its Texas headquarters for COVID-19 in recent...
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