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Shell will keep oil output steady or slightly higher into 2030 as part of CEO Wael Sawan's efforts to regain investor confidence as the energy giant wrestles with poor returns from renewables while oil and gas profits are booming, company sources said.
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Venture Global LNG, which is building three multi-billion dollar U.S. liquefied natural gas processing plants, is sparring with two customers of its first project over mechanical failures that have prevented commercial deliveries a year after initial shipments began.
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An ongoing heatwave in China is boosting power demand for cooling, but tepid industrial demand and record high coal inventories are keeping prices at two-year lows and limiting spot liquefied natural gas (LNG) imports.
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Australia's Viva Energy said on Wednesday that a failure of contractor crane at its flagship Geelong refinery in Victoria led to a compressor being dropped to the ground on Tuesday afternoon.
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Stock markets in Saudi Arabia and Qatar rose in early trade on Wednesday ahead of a widely expected interest rate hike pause by the U.S. Federal Reserve, although other major markets were subdued on falling oil prices.