In this episode of the Energy News Beat Daily Standup, host, Michael Tanner discusses the major news of Occidental's acquisition of Crown Quest for $12 billion. He touches on the financial details and highlights the significance of this deal in the Permian Basin, positioning Occidental as a major player. Tanner also covers two articles related to grid reliability issues, one involving the shutdown of a coal plant in Maryland due to an agreement with the Sierra Club, causing concerns about degraded grid reliability, and the other focusing on India's plans to boost oil refining capacity by 1 million barrels per day until 2028. The episode concludes with a brief overview of the financial market and energy prices. Tanner hints at an upcoming detailed analysis of the Occidental-Crown Quest deal in the Deal Spotlight series.

Highlights of the Podcast

00:00 – Intro

02:14 - Major grid operator warns legal agreement to shutter coal plant will devastate electric reliability

06:58 - India to Boost Oil Refining Capacity by 1 Million Bpd a Year Until 2028

09:07 - Markets Update

11:02 - Occidental to Buy Oil Driller CrownRock for $10.8 Billion

16:05 - Outro

Please see the links below for articles that we discuss in the podcast.

Major grid operator warns legal agreement to shutter coal plant will devastate electric reliability

A major power grid operator that oversees electricity supplies across the mid-Atlantic repeated its warning that the looming shutdown of a coal-fired power plant in Baltimore will threaten the region’s grid reliability and may have devastating impacts […]

India to Boost Oil Refining Capacity by 1 Million Bpd a Year Until 2028

India, the world’s third-largest crude oil importer, expects to raise its refining capacity by around 1.12 million barrels per day (bpd) each year until 2028, according to India’s junior oil minister Rameswar Teli. Total Indian […]

Occidental to Buy Oil Driller CrownRock for $10.8 Billion

ENB Pub Note: Michael and Stu are filming an episode of the ENB Deal Spotlight on this deal and pushing out on the ENB channels. Stay tuned for an evaluation of a public oil company […]

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