NEO Energy and Repsol to Merge UK Oil and Gas Assets
NEO Energy and Repsol Resources UK have entered into strategic merger, creating one of the largest U.K. North Sea independent oil and gas companies under the name of NEO NEXT.Under the terms of the transaction…
US considers cutting funding to four of seven hydrogen hubs
According to a source familiar with the issue, the U.S. Department of Energy has considered cutting funding to four of seven hubs for hydrogen that were chosen under a $7-billion federal program. The…
Putin's decree authorizes US hedge funds to purchase foreign-owned Russian securities
A presidential decree published on Monday showed that Russian President Vladimir Putin had given permission to a U.S.-based hedge fund to purchase securities in Russian firms from certain foreign investors and to sell them to two Russian funds.
Brazil adheres to OPEC+ Cooperation letter; No output caps
The Brazilian energy ministry announced on Tuesday that the country has decided to adhere the OPEC+ declaration of cooperation. This formalizes a decision it first made in 2023. Brazil is the biggest oil producer in South America.
Experts say that Russia is struggling to meet its LNG targets
Experts said that due to the international sanctions, Russia's LNG exports will probably not reach 67 million tons by 2030. This is far below its target of 100 million tons. Russia is focusing on developing…
New York City dismisses climate change lawsuit against Exxon BP Shell
A judge dismissed New York City’s lawsuit against Exxon Mobil and BP for misrepresenting their products and commitment to renewable energy, as well as their fight against climate change. Anar Patel…
Huafu fashion is among 37 Chinese companies that the US has banned imports of due to forced labor by Uyghurs.
The Department of Homeland Security announced on Tuesday that the United States had banned imports of 37 companies from China over allegations of human rights abuses against the Uyghurs. These companies are in the textile…
Trump announces that he will immediately revoke the offshore drilling ban imposed by Biden
Donald Trump, the U.S. president-elect, said Tuesday that he would move quickly to lift a ban on offshore oil and natural gas drilling announced by Joe Biden, the outgoing Democratic president. "Banning off-shore drilling will not hold.
After gas cutoff, the breakaway region of Moldova faces prolonged blackouts
Local authorities reported that Saturday saw a longer period of rolling power outages in Transdniestria (the pro-Russian breakaway region of Moldova), which is now without Russian gas because it no longer transits through Ukraine.
EIA increases US and global oil production estimates by a small amount
The U.S. Energy Information Administration announced on Wednesday that both U.S. oil production and global oil output are expected to reach record highs in this year, slightly higher than previous forecasts.
Coterra Energy will spend $3.95 billion to expand its Permian Basin footprint
Coterra Energy announced on Wednesday that it will buy certain assets from privately-held Avant Natural Resources, and Franklin Mountain Energy. The deal is worth $3.95 billion and includes cash and stock.
New Fortress Energy anticipates lower LNG volume in the fourth quarter
Wesley Edens, CEO of New Fortress Energy's energy infrastructure division, said that the company expects a slight drop in liquefied gas (LNG), in the fourth quarter of 2024 due to repairs performed in October on a valve.
Trader Wilmar reduces projections for Brazil sugar production
Wilmar International, a commodities trader based in Asia, cut its forecasts for sugar production by Brazil in 2024/25 due to the rapid decline in agricultural yields and quality of canes caused by fires and dryness in farmland.
Robotics: Autobots Transform in the Offshore Energy Sector
Robots and robotics have slowly been entering our lives, in various shapes and forms (and fictional characters), from self-driving household vacuum cleaners to highly automated manufacturing systems.
Shale Pioneer Chesapeake Energy Files for Bankruptcy
Chesapeake Energy Corp filed for Chapter 11 on Sunday, becoming the largest U.S. oil and gas producer to seek bankruptcy protection in recent years as it bowed to heavy debts and the impact of the…
US Proposal Would Allow Oil and Gas Drillers to Delay Royalty Payments
The U.S.
Halliburton Cuts 350 Jobs in Oklahoma
Oilfield services giant Halliburton on Monday said it will lay off an estimated 350 employees in Oklahoma, according to a filing with the state, as the spread of coronavirus and a price war between…
Icahn Sells Nearly a Third of His Oxy Stake
Activist investor Carl Icahn, who has been waging a bitter battle against Occidental Petroleum Corp's board over its $38 billion acquisition of Anadarko Petroleum, cut his holdings in the oil and gas producer by nearly a third…
Mexico Unveils Pemex Business Plan
Mexico on Tuesday unveiled parts of a keenly awaited business plan meant to bring the world's most indebted oil company back from the abyss, but its vow of $7.2 billion in government support failed…
Saudi Aramco Kick-starts IPO
Saudi Arabia's giant state oil company finally kick-started its initial public offering (IPO) on Sunday, announcing its intention to float on the domestic bourse in what could be the world's biggest…
