(World Oil) – bp Plc appointed oil industry veteran Dave Hager to the board, bolstering its efforts to refocus on fossil fuels and keep investors on side. Hager has been in the sector for more than 40 years, recently leading U.S. shale producer Devon Energy Corp. as chief executive and then executive chairman. He’ll bring oil and gas expertise to
(Investing) – The administration of U.S. President Donald Trump on Monday proposed rolling back Biden-era limits on oil and gas drilling in an Alaska area that is the nation’s largest tract of undisturbed public land. The move is consistent with Trump’s goal to slash regulations for oil and gas development and increase domestic fuels production as part of his energy agenda.
(Oil Price) – During a meeting with oil and gas executives in Canada’s oil-producing province of Alberta, Canadian Prime Minister Mark Carney pledged that the federal government would work to fast-track major projects to make Canada an energy superpower. “We met with leaders in clean and conventional energy today in Calgary. We all agree: it’s time to build,” Carney posted on X after
(Oil Price) – Crude oil prices were trading up nearly 4% on Monday afternoon, with analysts attributing the spike to escalating geopolitical tensions, and the aftermath of a massive Ukrainian drone strike on four Russian military airports overnight. Overnight, Ukrainian drone attacks targeted Russia’s Kursk and Voronezh regions, igniting fires in residential buildings, causing significant disruptions to highway traffic and reportedly
(World Oil) – Baker Hughes and Cactus, a global manufacturer of pressure control equipment for oil and gas drilling, have entered a new joint venture involving Baker Hughes’ surface pressure control (SPC) product line. Cactus will own 65% of the JV, while Baker Hughes will retain a 35% stake. The joint venture will operate independently from Cactus’ existing Pressure Control
(Investing) – LONDON -Oil prices jumped by about 4% on Monday after producer group OPEC+ kept output increases in July at the same level as the previous two months. Brent crude futures climbed by $2.28, or 3.6%, to $65.06 a barrel by 1335 GMT. U.S. West Texas Intermediate crude was up $2.99, or 4.9%, at $63.78. Both contracts lost more than 1%
