July 1, 2024

U.S. Energy Development Corporation to invest $750 million on Permian projects

July 1, 2024

World Oil Publisher’s Note: U.S. Energy Development will present at EnerCom Denver- The Energy Investment Conference on August 18-31, 2024. Please register to attend. (WO) – U.S. Energy Development Corporation (U.S. Energy) is expanding its operations in the prolific Permian basin. U.S. Energy is poised for significant growth and development in one of the most productive oil and gas regions

Shale consolidation could reverse output growth trend

July 1, 2024

Oil Price Mergers and acquisitions in the U.S. shale oil and gas space could lead to a decline in production, industry executives said in the latest edition of the Dallas Fed Energy Survey. The decline, according to survey respondents, would not be especially pronounced. Yet it would still be a reversal of a trend that most observers of the U.S. oil industry

Italian oil and gas major Eni eyes over $4 billion in upstream asset sale plan

July 1, 2024

World Oil (Bloomberg) – Italian energy group Eni SpA is looking to raise more than €4 billion ($4.3 billion) from disposals in its global upstream business, people familiar with the matter said. The sales would be part of a broader strategy of disposing of €8 billion in assets over the next three years. Units that could be candidates for the

Court hearing on Citgo auction could be delayed until September

July 1, 2024

Oil Price The court officer who oversees the auction of Venezuela’s PDV Holding, the parent company of refiner Citgo Petroleum, has asked a Delaware court to postpone the hearing on the winning bids by two months until September 19, to have more time to evaluate the bids and negotiate a sales agreement. The deadline for submitting binding bids for Citgo’s

Trans Mountain oil pipeline just shy of target for first-month loadings

July 1, 2024

BOE Report About 20 ships loaded crude oil on Canada’s West Coast in the first full month of operation on the newly expanded Trans Mountain pipeline, according to vessel-tracking data on Sunday, slightly below the operator’s forecast. Loadings from the pipeline expansion are closely watched because the Canadian government wants to sell the $24.84 billion (C$34 billion) line. Questions about

Senate probe over possible collusion between oil and gas majors, OPEC an “election year” stunt

July 1, 2024

World Oil (Bloomberg) – A U.S. Senate committee is investigating whether oil producers are illegally coordinating with OPEC to raise prices, following allegations that the former head of Pioneer Natural Resources Co. colluded with the group. The probe is being led by Budget Committee Chairman Sheldon Whitehouse, an industry foe. He has requested documents from 18 oil companies — including

U.S. Energy Development Corporation to invest $750 million on Permian projects

Shale consolidation could reverse output growth trend

Italian oil and gas major Eni eyes over $4 billion in upstream asset sale plan

Court hearing on Citgo auction could be delayed until September

Trans Mountain oil pipeline just shy of target for first-month loadings

Senate probe over possible collusion between oil and gas majors, OPEC an “election year” stunt

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