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Lender to U.S. electric co-ops carries $4 billion in exposure to waylaid Texas market

A go-to lender for U.S. electric cooperatives has $4 billion in exposure to the Texas market, where last month’s deep freeze slammed the finances of several co-ops hit with astronomically high gas and electric prices during the state’s grid blackout.

Competitive Texas power market hindered winter storm prep - Shell

Arguments that Texas should have "winterized" its electricity generators in anticipation of rare, inclement weather ignore the competitive nature of the Lone Star State's power system, a Royal Dutch Shell Plc executive said on Friday at an energy conference.

Oil slips after hitting pandemic high above $70 after Saudi attack

Oil prices slipped on Monday after earlier climbing above $70 a barrel for the first time since the COVID-19 pandemic began after attacks on Saudi Arabian oil facilities.

Texas city-run and rural electric firms face bailout over storm crisis

Financial strains on Texas city-owned utilities, rural electric cooperatives and the grid operator has spurred calls for state aid and lured private equity firms into plans to fix multi-billion-dollar charges.

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Exxon Baytown, Texas, refinery restarting large CDU: sources

Exxon Mobil Corp began restarting the large crude distillation unit (CDU) on Sunday at its 560,500 barrel-per-day (bpd) Baytown, Texas, refinery, said two sources familiar with plant operations.

Saudi raises April crude official prices to Asia

Saudi Arabia's state oil producer Aramco set its April official selling price (OSP) for its Arab Light crude to Asia at plus $1.40 per barrel versus the Oman/Dubai average, up $0.40 from March, according to a statement issued on Sunday.

Ecuador's Petroecuador awards 1.4 million bbl crude export tender to Shell unit

Ecuador's state-owned oil company Petroecuador said on Saturday that it had awarded a tender to export some 1.44 million barrels of Oriente-grade crude to a unit of Royal Dutch Shell PLC.

Texas grid operator made $16 billion price error during winter storm, watchdog says

Power grid operator Electric Reliability Council of Texas (ERCOT) made a $16 billion pricing error in the week of the winter storm that led to power outages across Texas, Potomac Economics, which monitors the state's power market, said.

Exxon Beaumont, Texas, refinery production hampered by coker - sources

Production at the restarted Exxon Mobil Corp 369,024 barrel-per-day (bpd) Beaumont, Texas, refinery is being hampered by reduced coker throughput, said sources familiar with plant operations.

Oil surges after OPEC+ holds cuts, strong U.S. jobs growth

Oil prices jumped about 3% on Friday, hitting their highest levels in more than a year, following a stronger-than-expected U.S. jobs report and a decision by OPEC and its allies not to increase supply in April.

EV rollout will require huge investments in strained U.S. power grids

During several days of brutal cold in Texas, the city of Austin saw its fleet of 12 new electric buses rendered inoperative by a statewide power outage. That problem will be magnified next year, when officials plan to start purchasing electric-powered vehicles exclusively.

U.S. drillers add oil and gas rigs for second week in a row: Baker Hughes

U.S. energy firms this week added oil and natural gas rigs for a second week in a row as crude prices soared to their highest since 2019.

Column: Oil risks overheating after OPEC+ leaves output unchanged - Kemp

By deciding to leave production unchanged for another month at its meeting on Thursday, OPEC+ risks causing the oil market to overheat and creating conditions for more instability in future.

'I'll believe it when I see it' - Saudi Arabia doubts oil recovery and keeps taps tight

This week's surprise decision by Saudi Arabia and other top oil producers to broadly stick with output cuts despite rising crude prices was influenced by events in an unexpected place - Italy.

Thyssenkrupp steel unit must manage without funds from group: CEO

Thyssenkrupp's steel unit must cut costs to reach a point where it no longer needs financial support from the group, Chief Executive Martina Merz said in an internal memo to staff seen by Reuters on Friday.

Oil guzzler India says OPEC+ decision to hit economic recovery

India, the world's third-biggest oil importer and consumer, on Friday said the decision by major producers to extend output cuts as prices move higher could threaten the consumption led-recovery in some countries.

Column: Nickel slumps as electric dreams are rudely disturbed

Nickel has endured its worst week in almost ten years, with the London Metal Exchange (LME) price collapsing by 16% in the space of two days to a three-month low of $15,830 per tonne.

Platts to launch 'green' aluminium prices in April

Platts will launch price assessments in April for 'green' aluminium, which is made using process that cut carbon emissions, the pricing agency said on Friday.

Column: Condition scores for Argentina’s thirsty crops may not be what they seem

February and March are perhaps the two most important months for Argentina’s corn and soybeans to receive ample rainfall, though last month was unusually dry and this month could follow suit, according to the latest weather forecasts.

Column: OPEC+ keeping output cuts won't surprise the physical crude market

The decision by OPEC and its allies to extend crude oil output cuts into April came as something of a surprise to a market expecting some level of increase, but it shouldn't have.

Goldman hikes Brent forecast, says 'shale discipline' behind OPEC strategy

Goldman Sachs Commodities Research raised its Brent forecast for second and third quarter by $5 a barrel after OPEC and its allies kept the deal unchanged, and said 'discipline of shale producers' is likely behind the group's slower output increase.

Latam lags in energy transition race; urgent needs unmet

As oil majors and developed nations push for a faster transition to clean energy, much of Latin America is struggling just to cover its basic supply needs for fossil fuels, which is forcing some countries to actually rely more on dirty energy sources.

China to speed up tapping new energy sources, but coal stays in mix

China set a modest five-year growth target on Friday for its nuclear power generation capacity and promised quicker development of alternative energy sources as it seeks to cut its carbon footprint, but left its coal industry largely untouched.

China to 'strengthen management' of strategic mineral resources, eyes green upgrade of steel

China will "strengthen management and control" of its strategic mineral resources, the government said on Friday as it set out a five-year development plan, without providing any details on how it plans to secure key supplies and boost self-sufficiency.