Washington has the authority and a $1 billion DPA fund for refinery projects, and it is talking with shut refineries about restarts. Valero’s idled Benicia plant is part of the talks, but the owner is weighing redevelopment and the state is paying for imports. If you drive in California, you pay for the state’s refinery […]
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U.S. upstream oil and gas mergers and acquisitions are showing renewed momentum heading into the fourth quarter of 2026, with foreign strategic buyers and private equity sponsors emerging as key potential catalysts for a late-year surge. After volatility tied to geopolitical events earlier in the year tempered activity, dealmaking rebounded in the third quarter, and […]
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Vice President JD Vance says the administration “has used” the Defense Production Act to expand Delek’s 74,000-barrel-a-day plant in East Texas. Diesel is $6.32 and nobody has published the dollars, the barrels or the start date. Here is what is real, what is not yet, and whether one small refinery can be the start of […]
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After the $58 billion Coterra merger, a $4.2 billion South Texas sale buys time—not a full reset—in a $90-plus oil market. Hat tip to Reese Energy Consulting and Steve Reese for highlighting this, and we will be covering this on a podcast with him soon. Devon Energy’s February all-stock combination with Coterra Energy closed in […]
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The Permian Basin remains the engine of U.S. oil growth, but it is steadily becoming gassier. Rising gas-to-oil ratios (GORs) mean every incremental barrel of crude now brings more associated natural gas. Without matching takeaway capacity, that gas depresses local prices, forces curtailments or flaring, and erodes the economics that keep oil drilling active. New […]
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South Korea’s planned U.S. investment package includes a framework for eight large nuclear reactors, with Commerce Secretary Howard Lutnick naming Ohio, Tennessee, South Carolina, and Kentucky as expected host states. The September 30, 2026 White House announcement is real, but it is a commercial framework tied to last year’s tariff deal—not a zero-cost gift fully […]
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Charlie Garcia stops by the Energy News Beat Channel, and he is a RockStar! Welcome back to Energy News Beat Podcast. Today we’re diving deep into a perfect storm that’s reshaping global markets, and most people have no idea it’s coming. We’re talking about the diesel crisis that’s quietly becoming the inflationary tax on everything—from […]
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President Trump’s administration is in advanced talks with Venezuela’s interim government for what officials describe as a “massive” energy deal: a U.S. ownership stake or long-term lease covering 17 of the country’s most promising oil and gas fields holding about 90 billion barrels of proven reserves. That is nearly a third of Venezuela’s world-leading 300 […]
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The ongoing conflict in Iran has triggered a profound energy crunch that extends far beyond crude oil prices. While Brent crude has retreated to around $90 per barrel from a wartime peak near $126, global shortages of refined products—diesel, gasoline, and jet fuel—have intensified. Global refinery throughput in July 2026 ran nearly 5 million barrels […]
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The effective closure of the Strait of Hormuz amid the 2026 Iran-related conflict has fundamentally altered global liquefied petroleum gas (LPG) trade flows. Middle Eastern exports from Saudi Arabia, the UAE, Qatar, and Iran slowed sharply as tanker traffic collapsed and infrastructure faced risks or attacks. Before the escalation, roughly 54 oil, chemical, and LPG […]
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