July 18, 2025

Chevron completes $53 billion Hess takeover following lengthy Exxon arbitration

July 18, 2025

(World Oil)– Chevron has completed its $53 billion acquisition of Hess Corporation, having prevailed in an arbitration against ExxonMobil regarding Hess’ offshore Guyana assets, which had delayed the takeover for over a year. offshore operations in Guyana’s Stabroek block. Image: Hess The combined company has one of the most advantaged and differentiated portfolios in the industry, with leading positions in

Exxon vs. Chevron battle sets stage for oil industry’s race for prize assets: Bousso

July 18, 2025

(BOE Report) – LONDON, July 18 – The high-stakes clash between Exxon Mobil and Chevron over a prized South American oilfield may be a sign of what’s to come in the oil and gas industry as competition for a shrinking pool of prime assets heats up. Chevron is set to finalize its $53 billion acquisition of U.S. rival Hess after the companies prevailed

Subsea7 wins contract for Equinor’s Fram Sør project, offshore Norway

July 18, 2025

(World Oil)– Subsea7 has been awarded a large1 contract by Equinor relating to the Fram Sør development project, offshore Norway, the company announced Thursday. Equinor’s Troll C platform, located 10-30 km from the Fram Sor development The project work scope covers engineering, procurement, construction and installation (EPCI) of subsea structures and flowlines including 53 km of production, gas lift and

U.S. rig count had an increase of 1 this week, at 585- oil and gas 360

U.S. rig count increased by 7 is at 544

July 18, 2025

This week’s Baker Hughes Rig Count shows that the U.S. increased by 7 over last week, resulting in a total count of 544 rigs. Canada had an increase of 10 over last week, resulting in a total Canadian count of 172 rigs. Breakdown by region Of the regions tracked by Baker Hughes, only the Haynesville region experienced an increase this

Oil prices climb after the EU imposes new sanctions on Russia

July 18, 2025

(Oil Price)– Oil prices moved higher on Friday morning after the EU agreed to an 18th package of sanctions against Russia, but the effectiveness of the sanctions is yet to be seen. Oil prices rose on Friday after the EU adopted its 18th sanctions package against Russia, lowering the price cap, targeting Russian oil trade, and closing a loophole that has

Chevron completes $53 billion Hess takeover following lengthy Exxon arbitration

Exxon vs. Chevron battle sets stage for oil industry’s race for prize assets: Bousso

Subsea7 wins contract for Equinor’s Fram Sør project, offshore Norway

U.S. rig count increased by 7 is at 544

Oil prices climb after the EU imposes new sanctions on Russia

Premium Content