Oil Inches Lower Amid Weaker Demand Forecast, Rate Cut Hopes
Oil futures inched lower as fears of disruptions to supply chains and hopes for early rate cuts continued to support prices, but the IEA's demand forecast and a recent surge in U.S. stockpiles weighed on sentiment.
Rockland Targets Gas-Fired Backup Power Plants With New $700 Million Fund
The private-equity firm figures natural gas-burning power plants will rise in value as renewable energy use expands.
Eni Earnings Hit by Weaker Prices
Eni's earnings fell in the fourth quarter, with operating profit down 23%, hit by lower oil and natural-gas prices.
EDF Swings to Profit After Nationalization
EDF reported underlying earnings of almost EUR40 billion in 2023 and forecast output targets, adding that 46 of its reactors were online by the beginning of January.
Energy & Utilities Roundup: Market Talk
Cenovus Energy, Cenovus and more in the latest Market Talks covering Energy and Utilities.
Teamsters Authorize Strike at Marathon Petroleum Refinery
Teamsters said that 95% of workers at the refinery had voted to authorize the strike.
New York Partially Divests From Exxon Over Climate Worries
The state pension fund is cutting investments in oil companies that officials says haven't done enough to get ready for the energy transition.
Higher Global Oil Supply Set to Satisfy Demand Increase
Global oil demand is expected to grow at a significantly weaker pace this year, while soaring output from the Americas will help boost supply despite output curbs from OPEC and its allies, IEA said.
Woodside Expects Around $1.5 Billion of Impairments in 2023 Result
Woodside Energy expects to take impairment charges totaling around $1.5 billion against its Shenzi oil and natural gas field in the U.S. Gulf of Mexico and the Wheatstone natural-gas project in Australia.
Centrica Profit Jumps
Centrica made a significantly higher pretax profit than market expectations in 2023, due to a strong performance in its British Gas energy unit.
(END) Dow Jones Newswires
02-16-24 0715ET
