Wednesday, June 4, 2025
Oil Surplus Makes Surprise Return Despite OPEC Cuts, IEA Says - Oil&Gas360

OPEC Committee: Let’s Have Nine More Months of Cuts

Recommendation echoes member country suggestions OPEC appears ready to approve extending cuts beyond the current June expiration date, based on pronouncements by several groups. The Joint Ministerial Monitoring Committee, a group composed of representatives from OPEC and non-OPEC nations, recommended a nine-month extension today, according to a releases by the group. The JMMC reports that overall OPEC is in 102%

Mexico Economy Growing Beyond Expectations

America’s main energy export destination sees increased growth The Federal Reserve Bank of Dallas has released its Mexico Economic Update, outlining the current situation of the U.S.’s primary energy export destination. The Mexican economy showed solid growth in Q1 2017, with GDP rising by a 2.4% annualized rate. This growth was achieved despite higher inflation, interest rates and uncertainty over

pumpjack_green_field - oilandgas360

EOG and Carlyle Group Form $400 Million JV

Venture will develop Ellis County, OK assets EOG Resource (ticker: EOG) and The Carlyle Group (ticker: CG) announced today a $400 million joint venture to develop EOG assets. In this venture the Carlyle Energy Mezzanine Opportunities Fund II will provide up to $400 million to develop EOG’s Ellis County, Oklahoma assets. The development program will last four years, according to

DONG Energy Sells Out of Oil & Gas for $1.3 Billion

DONG sells oil & gas assets to INEOS, making the company the largest private enterprise operating in the North Sea Petrochemical manufacturer INEOS announced today that it agreed to acquire all of DONG Energy’s oil and gas assets for total consideration of approximately $1.3 billion. The acquired assets produced 100 MBOEPD in 2016 and hold approximately 570 MMBOE of reserves