Sarawak challenges three federal laws in the top court of Malaysia
Sarawak's government announced?on Monday it had filed a petition with the highest court of Malaysia to challenge three federal laws that govern petroleum. This is part of an?effort broader?to gain more control over the state's natural resources. Sarawak will set up its own company, Petros, in 2024 to purchase, distribute, and supply all the natural gas produced within the state.
Exxon will determine the size of the natural gas reserves in Guyana's Stabroek Block.
Guyana’s energy minister stated that Exxon Mobil continues to work on determining the size of natural resources in Guyana’s?prolific Stabroek Block as the company pursues wider development of the resource. Previous statements by the U.S. oil giant, who leads the consortium operating the Stabroek Oilfield, have stated that ongoing efforts are being made to better understand the mixture of crude oil…
Environmental groups protest Trump's decision to repeal US climate regulations
On Wednesday, a coalition of environmental and health groups sued the Trump administration over its decision?to revoke?the scientific findings that form?the basis of?U.S. Climate regulations. The lawsuit filed before the U.S. Court of Appeals in the District of Columbia challenges also the Environmental Protection Agency decision, announced last week…
Oil minister: Suriname and Guyana will form team to explore joint projects for gas exploration
Suriname’s oil minister said that Suriname and Guyana will 'create' a technical team to investigate the development of natural gas?production between the two South American nations. The team could be set up next month and would represent a significant step forward for Suriname, Guyana and other countries that have been discussing the possibility of collaborating across borders on natural gas exploration.
Trump ends US vehicle emission standards, revokes climate regulations
On Thursday, the administration of President Donald Trump announced that it had repealed a scientific conclusion that greenhouse gasses endanger human life and removed federal tailpipe emission standards for cars and trucks. The administration has rolled back its climate change policies in the most dramatic way possible, following a series of regulatory…
Can Africa win the mineral race between China and the West? Russell
Two rail projects worth billions of dollars are underway in Africa. One project was aimed westward, and the other eastward. The one backed by Western nations, the other by China. Both aim to ship huge quantities of vital minerals. Welcome to the new race for Africa. It is estimated that the Lobito rail line will cost $6 billion when it's completed in 2030.
Can Africa win the mineral race between China and the West? Russell
Two rail projects worth billions of dollars in Africa. One project was aimed west and the other east. The one backed by Western nations, and the other by China. Both aim to ship huge quantities of critical minerals. Welcome to the new race for Africa. It is estimated that the Lobito rail line will cost $6 billion when it is completed in 2030. The 1…
Congo declares it will seek out other partners in the event that US Minerals Framework fails
If the minerals?cooperation agreement with the United States does not lead to concrete projects, then the Democratic Republic of Congo will seek out other partners. The country's mining minister stated that the framework does not result in concrete projects. "Everything that we have done in our relationship with America has been a framework within…
Mercuria and India's Tata will form a commodities trading venture
The global commodities trading house Mercuria is forming a joint-venture with Tata International to expand their presence in India and help the conglomerate trade a diverse basket of commodities. Noel Tata said that the joint venture is well-positioned for a scalable and compliant trading platform. Tata International supports the parent company, the multinational conglomerate?Tata Group, with trading and distribution.
Select Eagle Ford assets are being sought by RPT-Exxon XTO.
Exxon Mobil subsidiary XTO Energy, which is part of the oil major Exxon Mobil, is looking for buyers to purchase?some assets? in the Eagle Ford shale in South Texas. In recent days, ?top ?U.S. Two sources said earlier that Exxon, the oil giant, opened a virtual dataroom to start marketing the assets. Sources said the assets, which cover 168,000 acres net, are worth over $1 billion.
Exxon's XTO division seeks buyers for Eagle Ford assets
Exxon Mobil subsidiary XTO Energy, which is part of the oil major Exxon Mobil, has confirmed in a'statement' that it is looking for buyers for its assets located in South Texas’ Eagle Ford shale.basin. Two sources said that Exxon, the top U.S. energy company, opened a "virtual data room" to start marketing its assets in recent days. Sources said that the assets, which cover 168,000 acres net, are worth over $1 billion.
Source: Kimmeridge will nominate Scott Sheffield to Coterra Energy Board
Sources familiar with the matter say that investment firm Kimmeridge plans to nominate Scott Sheffield, former CEO of Pioneer Natural Resources? to Coterra Energy’s board. Source: Kimmeridge, one of the most well-known activists in the oil and gas sector, is planning to nominate five directors, including Sheffield, at the next Coterra shareholders meeting. Kimmeridge has been trying to put pressure on the U.S.
Indonesian forces save 18 Freeport workers in Papua from rebels
Officials said that the Indonesian military rescued on Thursday 18 workers from Freeport Indonesia, a gold and copper mining company. The workers had been surrounded for three days by armed rebels at a Freeport Indonesia outpost located in Papua's insurgency-plagued region. Free Papua Movement, a rebel?group, says that it fights for the secession of a region from Indonesia.
Globe and Mail reports that Canadian Natural is in negotiations to purchase Tourmaline's Natgas portfolio.
Canadian Natural Resources has entered into negotiations to buy a portfolio of natural gas properties worth more than $1 billion from Tourmaline Oil Corp., the Globe and Mail reported Wednesday. The report cited two sources who are familiar with these negotiations. On the website of Competition Bureau Canada, it is stated that Canadian Natural filed paperwork for approval of a deal with Tourmaline?on?December 30.
Glencore's share price rises as Rio Tinto and Glencore merge to create the world's largest miner
Glencore shares increased by almost 10% after news that it was in talks with Rio Tinto regarding a possible takeover. This would create the largest mining group in the world, valued at nearly $207 billion. While Glencore?gained?, Rio Tinto?shares fell as much as 3%. This reflects investor scepticism and concern that the deal will be overpaid. Both companies have previously discussed merging their operations.
Venezuelan oil will boost US refiners but hurt Canadian producers
Refiners in the United States would be able to absorb most of the approximately 1 million barrels of crude oil per day if U.S. Sanctions on Venezuela are lifted. According to a report on Tuesday, the U.S. has been in talks with Venezuela about exporting crude oil from the South American country to the United States. Sources say that U.S. oil executives will visit the White House Thursday to discuss Venezuela.
Venezuelan oil will boost US refiners but hurt Canadian producers
Refiners in the United States would be able to absorb the majority of the approximately 1 million barrels of crude oil per day that would be traded freely if the sanctions were lifted. The sanctions against the South American nation are lifted. Canadian oil companies, who sell heavy crude similar to that of Venezuela, and small Chinese refiners would suffer higher costs, if Venezuelan crude was diverted to the U.S. The U.S.
Ministry says that the technical problem at Iraq's Khor Mor Gas Field is causing a drop in power supply to Kurdistan.
The Kurdish Ministry of Electricity announced on Thursday that the electricity supply in Kurdistan had dropped by 1,000 megawatts because of a "technical problem" at the Khor Mor gas fields, one of the largest in the Kurdish Region. The ministry of electricity stated that the Ministry of Natural Resources and the UAE's Dana Gas team, who?jointly operated the field?, are working to restore stability.
Suncor trims budget and projects increased oil and gas production in 2026
Suncor Energy forecast lower spending for 2026, despite increased oil and gas production. The company will tighten?costs, and increase shareholder returns through an expanded buyback plan. Suncor's outlook is similar to that of Canadian Natural Resources, Cenovus Energy and other oil sands producers in Canada. After years of investment, Canada's oil…
Bousso: ROI-Permian will retain US oil crown after peaking even though it has reached its peak
The Permian Basin is set to reach its peak oil production in December. This will be a turning point for the U.S. Shale Boom that has reshaped the global energy markets over the last 15 years. But drilling innovations will ensure that the output of America's most prolific patch of oil will remain stable for many years. In its latest Short-Term Energy Outlook, the U.S.