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

Saudi Minister Warns of $50 Oil as OPEC+ Members Flout Production Curbs 
 

The kingdom called out members for overproducing, in what was seen as a veiled threat of a price war.

 
Oil prices end at highest in a week as Iran launches missile attack on Israel 
 

Oil futures settled at their highest in a week on Tuesday after the Israel Defense Forces said Iran launched a missile attack on Israel, in what is considered to be a significant escalation of tensions in the Middle East that may threaten global crude supplies from the region.

 
TotalEnergies to Invest $10.5 Billion in Suriname Oil Project 
 

French energy major TotalEnergies said it would invest $10.5 billion in a large offshore oil-and-gas field in Suriname, in what would be the South American country's first offshore hydrocarbon development.

 
UAE's Adnoc Buys Germany's Covestro for $13 Billion 
 

The tie-up is part of the oil producer's big bet on chemicals, as it tries to transform into a fully integrated energy company.

 
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.

 
Energy & Utilities Roundup: Market Talk 
 

Find insight on Chesapeake Energy , Shell, Abu Dhabi National Oil Co. and more in the latest Market Talks covering the Energy & Utilities sector.

 
'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.

(END) Dow Jones Newswires

October 02, 2024 04:15 ET (08:15 GMT)

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