Sources say that Northern Oil and Gas is in the process of acquiring Granite Ridge, a smaller rival.
According to sources familiar with the situation, Northern Oil and Gas made a purchase offer for Granite Ridge Resources. Granite Ridge Resources is a small U.S. oil and gas producer that operates in the Permian and Eagle Ford basins. Sources said that Northern, based in Minneapolis, Minnesota, has made at least two bids for Granite Ridge. The latest offer…
Sources say that Tesla's former China plant head will join renewable energy company Envision
Two sources with knowledge of the situation said that Tesla's former China Plant Manager is expected to join Chinese renewable energy company Envision. One source said that Song Gang, who announced Wednesday his departure from Tesla, will be taking on supply chain management duties for Envision. Envision and Song didn't immediately respond to separate comments. Tesla did not reply to a question about Song's departure.
US pressures EU to align LNG methane regulations
A letter obtained by showed that U.S. officials redoubled their efforts to convince EU counterparts that shipments of liquefied gas meeting current U.S. regulations on methane would automatically meet the new European standards for gas imports. On December 17, the administration of President Joe Biden sent a second email to Ditte J. Jorgensen (EU…
O Globo reports that Brava Energia, a Brazilian company, will sell Potiguar's assets to PetroReconcavo.
The newspaper O Globo, citing reliable sources, reported that Brava Energia, a Brazilian company, had reached an agreement with PetroReconcavo to sell assets in the Potiguar Basin for a total of around 13 billion reais (2.13 billion dollars). According to the report, the acquisition of the assets in Brazil's oil basin would enable PetroReconcavo reduce costs and could also lead to better agreements with suppliers.
Abu Dhabi's ADNOC Gas names Fatema Al-Nuaimi as its new CEO
ADNOC Gas in Abu Dhabi announced on Tuesday the appointment of Fatema al Nuaimi to its CEO position, with effect from January 1, after Ahmed Alebri decided to step down following nearly two years as the leader. In a press release, the company stated that Al Nuaimi would lead the delivery ADNOC Gas’ ambitious business strategy, which is focused on decarbonization and future-proofing.
US House panel finds BlackRock and other asset managers reluctant to join climate initiative
According to a report published on Friday by the Republican-led U.S. Congress committee, top asset managers in the United States were concerned that signing up for an industry climate initiative would make them look like they worked too closely together and attract regulatory scrutiny. This is the latest report released by the U.S. House Judiciary…
US House panel finds BlackRock and other asset managers hesitant to join climate initiative
According to a report published Friday by a Republican led U.S. Congressional Committee, top asset managers in the United States are concerned that signing up for an industry climate initiative will make them look like they're working together too closely and attract regulatory scrutiny. This is the latest report released by the majority of the Republican…
Sources say that Russia's Novatek employs lobbyists in order to improve relations with the US.
Two sources familiar with the situation said that Novatek, Russia's largest producer of liquefied gas, is working with lobbyists to try and rebuild U.S. relationships after Washington imposed sanctions against its mammoth Arctic LNG 2 Project. After the 2022 invasion of Ukraine by Russia, the relationship between the United States and Russia reached a post Cold War low.
US offshore driller requests judge block insurers' demand for $250 million collateral
W&T Offshore is an independent driller in the U.S. Gulf of Mexico. It has asked a federal court to block the insurance companies' demand for $250 million additional collateral in exchange for tearing down old oil infrastructure. Offshore drilling companies are under increasing pressure to issue bonds for the decommissioning of oil and gas infrastructure within federal waters.
US offshore driller requests judge block insurers' demand for $250 million collateral
W&T Offshore is an independent driller in the U.S. Gulf of Mexico. It has asked a federal court to block insurance company demands for additional collateral of $250 million for tearing down old oil infrastructure. Offshore drilling companies are under increasing pressure to issue bonds for the decommissioning of oil and gas infrastructure within federal waters.
BHP and Rio de Janeiro are plagued by sexual harassment lawsuits: Russell
The sexual harassment suits filed against BHP Group in Australia and Rio Tinto, global mining giants, are not just another public relations disaster or possible financial hit. These allegations threaten the future of two of world's largest miners who want to be at the forefront of the energy transformation by producing the metals required to decarbonise world economies.
TWMA Appoints Group Commercial Director
Drilling waste management specialist, TWMA, has announced the appointment of Jonathan Parkes as its new Group Commercial Director. This strategic hire comes as the Aberdeen-based company continues to build on a period of rapid international growth and expansion.Joining the company in October 2024, Jonathan brings 20 years of commercial and strategic expertise across the energy market.
Iberdrola Gets Portugese Nod for Wind Farm Start
Iberdrola has received a production license from the Portuguese Directorate-General for Energy and Geology of Portugal (DGEG), taking another step towards the construction of the largest wind farm in Portugal.Located in the districts of Vila Real and Braga, in northern Portugal, with a total investment of around €350 million, this project reinforces Iberdrola's commitment to environmental goals…
NOIA Reacts as BOEM Announces Next Steps for GoM Oil & Gas
National Ocean Industries Association (NOIA) President Erik Milito issued the following statement after the Bureau of Ocean Energy Management (BOEM) released the Draft Programmatic Environmental Impact Statement (EIS) for oil and gas leasing in the Gulf of Mexico:"We are pleased to see BOEM finally moving forward with the next step toward the first Gulf of Mexico oil and gas lease sale of the 2024-2029 offshore leasing program.
HMC Capital, based in Australia, will buy Neoen’s Victoria portfolio at a price of $612 million
HMC Capital, an Australian asset manager, announced on Thursday that it would buy the renewable energy generation portfolio and storage in Victoria from France-based Neoen for A$950,000,000 ($611.61million). HMC stated that the portfolio will be a great addition to their energy transition platform. It includes four operational assets, each with a capacity of 652 megawatts (MW)…
Toronto stock prices reach record highs after bank earnings
Canada's main index of stocks hit a new record on Wednesday. This was largely due to the performance of technology and financial companies, as well as investors' assessment of strong quarterly earnings by two major domestic lenders. The Toronto Stock Exchange S&P/TSX Composite Index was up 28.72, or 0.11% at 25,664.45, but was still trading below its record high.
Exxon names GM's former president to lead oil and gas business
Exxon Mobil announced on Tuesday that Dan Ammann - the former president of General Motors will be taking over its most profitable and largest business in early 2013. Ammann, who joined Exxon in 2012 to lead its Clean Energy Unit, Low Carbon Solutions (Low Carbon Solutions), will replace Liam Mallon, a 34-year veteran of Exxon, as president and CEO of Exxon’s Oil and Gas Pumping Business, starting on February 1, 2025.
BOEM ID's Environmental Measures for NY Bight Wind
In support of the Biden-Harris administration’s goal of deploying 30 gigawatts (GW) of offshore wind energy capacity by 2030, the Bureau of Ocean Energy Management (BOEM) today issued a Record of Decision identifying environmental measures expected to be applied to future wind energy development of the six lease areas offshore New York and New Jersey in an area known as the New York Bight.
Norway's wealth fund will probe shoemakers and crypto firms in 2025 for ethics
Next year, the Norwegian sovereign wealth fund will investigate the potential ethical violations of shoemakers, crypto-firms and gambling operators that the fund holds, leading it to sell its holdings. Norway's Parliament has set ethical guidelines for the world's biggest sovereign wealth fund. It owns 1,5% of all listed shares in 8,700 companies around the globe.
Tokyo Gas president: Asset sales will boost capital efficiency by Tokyo Gas
Tokyo Gas wants to increase capital efficiency through the sale of underperforming assets including real estate. This was announced by its president on Thursday following disclosures that activist investor Elliott Management had invested 5% in Tokyo Gas. Elliott took a 5.03% share in Tokyo Gas earlier this month. The company is trying to get Japan's largest city gas provider to increase shareholder value.
