News Highlights: Top Energy News of the Day - Tuesday at 4 AM ET

Adnoc to Buy Germany's Covestro for $13 Billion 
 

Adnoc and Covestro agreed on a tie-up valuing the chemicals maker at $13.05 billion in a deal that will help the Abu Dhabi energy giant diversify its portfolio beyond its core oil business.

 
Oil prices post losses for the month and quarter on bets for a supply surplus 
 

Oil futures ended Monday with losses for the session, month and quarter, pressured by expectations that major oil producers will boost production in December - leading to a surplus of supplies as the outlook for demand remained uncertain.

 
John Hess Is the Latest Target for Antitrust Enforcers. The Oil Patch Isn't Happy. 
 

The agency accuses Hess of improper talks with OPEC and will block him from joining the board of Chevron, which is trying to buy his oil company.

 
'Three New York Cities' Worth of Power: AI Is Stressing the Grid 
 

Across the nation, utilities are worried about expanding the overburdened power grid, citing high costs and concerns about commitment from data center projects.

 
Elliott-Led Group Named As Winner of Auction to Acquire Venezuela's Citgo Petroleum 
 

Elliott and other U.S. investors have agreed to pay nearly $7.3 billion to acquire Citgo's parent company, with proceeds set to help compensate creditors of the bankrupt Venezuelan government.

 
A High-Profile Clean-Energy Startup Is Running Short on Cash 
 

Monolith is struggling to meet production targets needed for $1 billion government loan.

 
Oil Price Expected to Weaken If OPEC+ Hikes Supply 
 

Expectations that the OPEC and its allies will start unwinding voluntary output curbs of 2.2 million barrels a day starting from December is adding to market nervousness.

 
FTC Plans to Block Hess CEO From Chevron Board 
 

John Hess would be prevented from Chevron's board as part of deal for antitrust approval of a Hess-Chevron merger.

 
California Plan for Corporate Carbon Accounting Pushes Forward Despite Naysayers 
 

A year after the passage of landmark legislation that will make the Golden State into a de facto national climate accounting regulator, supporters are optimistic despite challenges.

 
As Exxon Pumps Guyana's Oil, China Is Winning Battle for Influence 
 

Chinese companies are investing heavily in the sparsely populated South American country, home to the largest oil find in a generation.

(END) Dow Jones Newswires

October 01, 2024 04:15 ET (08:15 GMT)

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