January 29, 2025 – Oil & Gas 360

U.S. upstream oil & gas M&A hit $105 billion In 2024

January 29, 2025

(Oil Price) – Mergers and acquisitions in the U.S. upstream oil and gas industry hit $105 billion in 2024, the third-highest annual total ever, energy analytics firm Enverus has revealed. However, last year’s tab came in well below a whopping $192 billion worth of tie-ups completed in 2023, which included the $60 billion acquisition of Pioneer Natural Resources by Exxon Mobil Corp. (NYSE:XOM). Earlier, Enverus predicted that

Europe’s strictest ESG funds hit by record outflows

January 29, 2025

(Oil Price) – Poor returns prompted investors to withdraw record amount of money from the EU’s funds with the strictest ESG standards, a report by market research firm Morningstar has shown. The EU’s Sustainable Finance Disclosure Regulation (SFDR), adopted in 2021, regulates and classifies funds according to their sustainability. The so-called Article 8 funds are registered as “promoting” ESG goals,

Big oil set to book lowest quarterly profits in three years

January 29, 2025

(Oil Price) – The five biggest international oil and gas majors are expected to report in the coming weeks their lowest quarterly earnings in three years, data compiled by Bloomberg showed on Tuesday. Lower oil and gas prices, weaker oil trading and LNG business at some of the European majors, and declining margins across the board are expected to weigh on the fourth-quarter

Mexico to present energy reform to Congress on Wednesday

January 29, 2025

(BOE Report) – Mexico President Claudia Sheinbaum said that her government will send Congress on Wednesday a bill intended to reform the country’s energy sectors and establish mechanisms for public-private partnerships across the power and oil and gas industries. “This is a very deep reform,” Sheinbaum said in a morning conference, saying it aimed to simplify the structures of state

New report aims to turn IEA away from energy transition focus

January 29, 2025

(Investing) – WASHINGTON – The International Energy Agency needs to revamp how it writes its annual energy outlook to reflect real-world scenarios, not to bolster its current focus on the global energy transition, according to a report released on Wednesday by the agency’s former oil director. The report named Energy Delusions was written by former IEA oil director Neil Atkinson for

Oil prices slip as US inventories rise; tariff concerns in focus

January 29, 2025

(Investing) – Oil prices edged lower on Wednesday on a rise in U.S. crude stockpiles and easing concern over Libyan supply, with U.S. tariffs on Canadian and Mexican imports also in focus. Brent crude futures were down 44 cents, or 0.57%, at $77.05 a barrel by 1400 GMT. U.S. crude futures fell 41 cents, or 0.56%, to $73.36. The White House said on Tuesday

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories decrease by 3.5 million barrels

January 29, 2025

Weekly Crude Oil Storage as of January 24, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.5 million barrels from the previous week. At 415.1 million barrels, U.S. crude oil inventories are 6% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,

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