Argentina accuses UN ignoring the rising tensions in Falkland Islands
Argentina's president Javier Milei criticized Wednesday the United Nations for "looking the other way" during escalating tensions between Britain and Argentina over oil exploration in and around?the Falkland Island, a British overseas territory that is largely self-governing. Argentina has long denied British sovereignty. Milei, speaking before the 'world's leaders at the UN General Assembly said Argentina claimed the islands.
Argentina's Milei speaks to the UN as tensions over Falkland Islands rise
Argentine President Javier Milei will speak to world leaders on Wednesday at the United Nations General Assembly, amid escalating tensions between Argentina and Britain over oil exploration around the Falkland Island. The Falkland Islands are a British overseas territory that is largely self-governing. Argentina has long denied its sovereignty. Argentina began sanction proceedings earlier this month against over 60 companies and individuals linked to offshore oil drilling projects.
Milei introduces bill to increase sanctions against Falklands activity
Argentina's government presented a bill to crack down on companies operating in the Falkland Island, which could escalate tensions between Argentina and the United Kingdom. Last week, the Argentinian government announced that it had begun sanctions against 60 companies and individuals involved in offshore oil exploration around these islands. Argentina calls them the Malvinas. Argentina, which invaded the islands in 1982…
Milei united in opposition to Falkland Islands oil proposal
Argentines are broadly in support of President Javier Milei’s?forceful campaign against oil drilling near Falkland Island, underlining the enduring resonance Argentina's claim to sovereignty over the British controlled archipelago. Milei, in a televised speech on Thursday, said that he would submit a bill before Congress to strengthen sanctions against companies drilling and participating in other activities on the island which impact our natural resources.
SLB and Formentera executives claim that they are working on activating drilling rigs for Venezuela.
SLB, a private equity firm and oil?service provider, is working with?Formentera?Partners to either reactivate or import more oil rigs into Venezuela in the next few months. Blake London, managing partner of energy-focused Formentera, said that the company is in talks with international service providers about bringing oil drilling rigs to Venezuela. According to Baker Hughes data, only two onshore drill rigs were active in Venezuela by the end of July.
Trump calls the UK's next expected PM 'extremely Liberal'
U.S. president Donald Trump said that he knew 'little' about Andy Burnham who is expected to be the next British prime minister. He described him as "mayor of "a town", "extremely Liberal" and someone 'who wouldn't likely open up the North Sea for more oil drilling. In remarks late on Wednesday the U.S. president reiterated his belief that Keir?Starmer should have allowed more oil drilling in the North?Sea…
The response to the auction of oil drilling rights at Alaska Wildlife Refuge is tepid
Officials from the U.S. Department?of the?Interior said that only $3.7million was bid for five parcels of land in Friday's auction by Trump's administration. The auction included 58 tracts on 689,000 acres (278.828 hectares), in a wildlife refuge known for its pristine habitat, which is home to species such as polar bears, caribou, and migratory bird species. Nine bids were made on five tracts totaling 70,000 acres.
Trump Administration to auction off oil drilling rights in Alaska Wildlife Refuge
The Trump Administration will sell oil and gas leases in Alaska's Arctic National Wildlife Refuge on Friday. This is a "remote, pristine habitat" for polar bears, caribou, and migratory bird species. The auction is a test of the industry's appetite for drilling in Alaska. It is a high-risk endeavor that involves decades of hard work and billions of dollar investments. Oil and gas drillers were offered 60 tracts of the refuge by the U.S. Bureau of Land Management.
US states sue Trump Administration and TotalEnergies for offshore wind cancellation
Seven U.S. States led by New York filed a lawsuit against the Trump administration on Tuesday for?cancelling an offshore wind lease near New York's coast. The lawsuit filed in Washington, D.C., challenges the March 23 decision of the U.S. Dept. of the Interior to cancel the lease of a subsidiary company of France's TotalEnergies, to "reimburse", $795 million, to the company, to extract a promise from the company to not develop new offshore projects in the United States.
Baker Hughes' drilling equipment company HMH is valued at $815m amid market turmoil
HMH Holding, a provider of drilling equipment, was valued at 815 million dollars?after its shares dropped 5.5% on Wednesday in its Nasdaq début?amid fragile sentiments and persistent geopolitical uncertainties. Houston-based Akastor, a joint venture between Norway's Akastor and oilfield services firm Baker Hughes, has pushed forward with its long-sought New York IPO despite the Middle East conflict boosting oil prices.
HMH Holding raises more than $210 million through its US IPO
HMH Holding, an oil and?gas equipment manufacturer in the United States, raised more than $210 million on Tuesday after pricing its U.S. initial public offering within its range. Houston-based HMH has sold approximately 10.5 million shares for $20 each, as opposed to its advertised price range of $19 - $22 per share, giving it an estimated $862 million valuation. Experts in the industry have stated that despite increased volatility…
HMH Holding, backed by Baker Hughes, seeks $948 Million valuation in US IPO
HMH Holding, an oil and gas equipment manufacturer, said it aimed to raise up to $948m in its initial public offering in the United States. The company entered the market at a time when the price of crude was surging. The company aims at raising $231 million through the IPO. It will sell 10.5 million shares between $19 to $22 each. Bankers and analysts claim that despite the increased volatility in the market, capital markets remain open for oil and gas companies.
EIA: US oil drilling will slow down as prices fall, Venezuela's growth could increase pressure
Lower oil prices will likely reduce?U.S. The Energy Information Administration reported on Tuesday that drilling activity will reduce production by 1% in the top producing country this year, and a possible increase of supply from Venezuela may 'add pressure. The Department of Energy’s statistical arm echoes concerns from some U.S. producers regarding President Donald Trump’s request that domestic…
EIA: US oil drilling will slow down as prices fall, Venezuela's growth could increase pressure
Energy Information Administration reported on Tuesday that lower oil prices will reduce U.S. drilling activity and reduce production by 1% in the United States this year, while a possible increase in Venezuelan output could add to the pressure. The Department of Energy's statistics arm's comments add to the concerns expressed by some U.S. producers regarding President Donald Trump's call for…
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.
Energy services firm Baker Hughes said that U.S. firms added oil and gas rigs this week for the first time in 3 weeks. The number of oil and gas rigs, a good indicator of future production, increased by three in the week ending December 23. Baker Hughes has released its rig count report several days earlier than usual due to the Christmas Day holidays. Baker Hughes reported that despite this week's increase in rigs, the total count is still down by 44 rigs since?this time last.
Harbour Energy, UK, enters Gulf of Mexico LLOG market with $3.2 billion deal
Harbour Energy, a North Sea-focused company, announced on Monday that it will purchase deepwater oil exploration and production firm LLOG Exploration at a price of $3.2 billion. This marks its entry into the U.S. Gulf of Mexico. In a press release, Harbour said that the deal would consist of $2.7 billion in cash and $500 millions in Harbour's ordinary voting shares. Gulf of Mexico is a top target for oil'majors like BP…
US auctions first Gulf of Mexico Oil and Gas since 2023
On Wednesday, the Trump administration will conduct the first government sale of oil-and-gas drilling rights in Gulf of Mexico?since 2023. This is a test of the industry's appetite?for offshore acres at a moment when the United States?is trying to increase domestic fossil fuel production. The auction is one of the 30 required by President Donald Trump's tax-cut and spending bill that he signed in July.
Florida Republicans Oppose Trump's Offshore Oil Leasing Plan
Florida Republicans, led by Governor Ron DeSantis have said that they are opposed to a plan of the Trump administration which could allow for new oil and natural gas drilling off Florida's Gulf Coast.The reactions were in response to a proposal by the Interior Department published on Thursday, which contemplated future oil leasing in an eastern portion of Gulf of Mexico that is heavily used…
Trump Administration revokes Biden's limits on Alaskan oil drilling
The Trump Administration finalized on Thursday its rollback of Biden's limits on oil-and-gas drilling in Alaska, the largest area of public land that has not been disturbed by humans. This move is in line with the goal of President Donald Trump to reduce restrictions on domestic gas and oil development, especially in resource-rich Alaska. Biden's rule 2024 prohibited oil and natural gas leasing on 10…
Indigenous leaders from the Amazon to the Andes bring their demands to COP30
A boat with dozens of Indigenous Leaders arrived in Belem a few days before the UN's COP30 Climate Summit. They had traveled for weeks, from a glacier on the Andes mountains to Brazil's tropical coastline. They wanted to have a bigger say in the management of their territories, especially as climate change continues to escalate and other industries, such as mining, oil drilling, and logging, continue to push deeper into forests.