FRO – Termination of Combination Agreement with Euronav
January 9, 2023
Regulated information. This press release contains inside information within the meaning of Regul…
Targa Resources Corp. Completes Acquisition of 25% Interest in Grand Prix NGL Pipeline
January 9, 2023
HOUSTON, Jan. 09, 2023 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Co…
Can a buyers cartel challenge OPEC?
January 9, 2023
Oil Price Italy’s former PM Mario Draghi suggested it first, then U.S. Treasury Secretary Janet Yellen took up the idea and built on it. What if, the idea was, large oil importers united against oil producers? Many from the analytical field were skeptical. With oil demand where it is, the global oil market was effectively a sellers’ market, which
Column: Hedge fund petroleum buying paused over year end
January 9, 2023
Nasdaq LONDON – Rallying oil prices ran out of steam just before the end of the year as investors turned cautious after two weeks of heavy petroleum buying. Hedge funds and other money managers sold the equivalent of 12 million barrels in the six most important petroleum-related futures and options contracts over the seven days ending Jan. 3. Light
Petrobras braces for attacks on refineries
January 9, 2023
Oil Price Brazil’s state oil major Petrobras has stepped up security at its refineries in response to threats of attacks on the infrastructure, Reuters has reported, citing unnamed sources. Source: Reuters The threats come as supporters of Brazil’s previous president, Jair Bolsonaro, stormed Brazil’s Congress, the presidential palace, and the Supreme Court this weekend. The riots first erupted following the narrow victory
Vital Energy completes rebranding
January 9, 2023
Oil and Gas 360 Fourth-Quarter 2022 Production Expected to Exceed Guidance TULSA, OK, Jan. 08, 2023 (GLOBE NEWSWIRE) — Vital Energy, Inc. (NYSE: VTLE) (“Vital” or the “Company”) today announced the completion of the Company’s rebranding and on Monday, January 9, 2023, will begin trading under the ticker “VTLE” on the NYSE. The Company’s new website is www.vitalenergy.com. Additionally, Vital updated
Energy price volatility to continue in 2023 amid geopolitical uncertainty
January 9, 2023
BOE Report TORONTO – Deloitte says energy prices will likely be volatile in the first quarter of 2023 as geopolitical uncertainty continues. The firm’s energy, oil and gas price forecast released Monday says global factors including the war in Ukraine and China’s rocky COVID reopening will continue to contribute to tension between supply and demand. After breaching the US$100
U.S. shale workers’ pay growth slows as explorers reduce oilfield activity
January 9, 2023
World Oil (Bloomberg) — Monthly wage growth in the U.S. shale patch slowed to less than 1% in November as explorers pulled back activity to manage record costs in the oilfield. Average hourly earnings in oil and gas extraction for nonsupervisory workers were up 0.6% in November from the previous month to $42.19, according to Bureau of Labor Statistics data
Oil rises as Chinese border opening spurs fuel demand optimism
January 9, 2023
Nasdaq Oil prices climbed on Monday as the borders reopened in China, the world’s top crude importer, boosting the outlook for fuel demand growth and offsetting global recession concerns. Brent crude futures LCOc1rose 90 cents, or 1.2%, to $79.47 a barrel at 0520 GMT, while U.S. West Texas Intermediate crude CLc1 was up 90 cents, or 1.2%, at $74.67. Hopes for less-aggressive U.S. interest rate rises are buoying financial
Biden administration defers plan to tackle smog from oil drillers in Permian Basin
January 6, 2023
World Oil (Bloomberg) — The Biden administration is deferring a plan to crack down on smog in the drilling hotbed of the Permian Basin, handing a win to oil producers along with their allies in Texas and New Mexico. The Environmental Protection Agency had been considering formally labeling parts of the region as violating federal air quality standards for ozone
Renewables financing tops fossil fuel lending for the first time ever
January 6, 2023
Oil Price Banks arranged and underwrote more capital for the development of renewable energy projects than for oil, gas, and coal firms for the first time ever last year. Last year’s slump in capital raised by the fossil fuel industry doesn’t necessarily mean that there is a marked shift away from oil and gas lending. It may have just been
Vermilion Energy Inc. announces 2023 budget and guidance, 25% dividend increase and resumption of share buybacks
January 6, 2023
BOE Report CALGARY, AB – Vermilion Energy Inc. (“Vermilion”, “We”, “Our”, “Us” or the “Company”) (TSX: VET) (NYSE: VET) is pleased to announce its 2023 budget and guidance, a 25% dividend increase, and the resumption of our share buyback program. Highlights 2023 capital budget of $570 million reflects consistent investment levels in North America and increased capital allocation to continental European gas drilling 2023 production guidance of
