October 2, 2025 – Oil & Gas 360

Berkshire Hathaway Inc. to Acquire OxyChem

October 2, 2025

(Oil & Gas 360) – Berkshire Hathaway (NYSE: BRK) and Occidental (NYSE: OXY) today announced a definitive agreement for Berkshire Hathaway to acquire Occidental’s chemical business, OxyChem, in an all-cash transaction for $9.7 billion, subject to customary purchase price adjustments. OxyChem is a global manufacturer of commodity chemicals vital to quality of life, with applications in water treatment, pharmaceuticals, healthcare and

EnerMech wins major subsea contract for Australian offshore gas development

October 2, 2025

(World Oil)– EnerMech has won a significant contract to provide subsea pre-commissioning and specialist services for a major offshore gas development in Australia’s East Browse basin. The work will support the second phase of the project’s installation campaign, scheduled between October 2025 and April 2026. The contract scope includes riser and umbilical services such as flooding, top-up, and leak testing

Alberta leads as proponent for West Coast pipeline

October 2, 2025

(BOE Report)– With the advice and technical support of three major pipeline companies, Alberta’s government, acting as proponent, will develop and submit a formal application for a project of national significance to the Federal Major Projects Office under the Building Canada Act. Indigenous communities in Alberta and British Columbia are being engaged from Day 1. Indigenous co-ownership, partnership and perspectives

Oil prices sink to 4-month lows on oversupply concerns

October 2, 2025

(Investing.com)– Oil prices edged lower on Thursday, extending a run of declines into a fourth day, with Brent hitting its lowest since early June due to concerns about oversupply in the market. Brent crude futures fell 58 cents, or 0.9%, to $64.77 a barrel at 1309 GMT. U.S. West Texas Intermediate crude retreated by 57 cents, or 0.9%, to $61.21 a barrel, also

Middle east electricity demand to grow 50% over the next decade

October 2, 2025

(Oil Price)– The International Energy Agency (IEA) has revealed that electricity consumption in the Middle East and North Africa (MENA) has tripled since 2000, making the region one with the fastest-growing power demand on the planet. According to the IEA, the explosive growth was mainly driven by expanding populations and rising incomes, with air conditioning accounting for nearly half of peak

Rhino confirms high-liquid gas condensate discovery at Volans-1X offshore Namibia

October 2, 2025

(World Oil)– Rhino Resources Namibia Ltd. has confirmed a significant gas condensate discovery at the Volans-1X exploration well in Block 2914A, offshore Namibia’s Orange basin. The find represents the company’s third consecutive hydrocarbon discovery on Petroleum Exploration License 85 (PEL 85), where Rhino holds a 42.5% operating interest. The Volans-1X well, spudded on July 31, 2025, with the Northern

Weekly Gas Storage: Inventories increase by 88 Bcf- oil and gas 360

Weekly Gas Storage: Inventories increase by 53 Bcf

October 2, 2025

Natural Gas Inventories as of September 26, 2025 The EIA has released its natural gas inventory report, showing a net increase of 53 Bcf as of September 26, 2025. Working gas in storage was 3,561 Bcf as of Friday, September 26, 2025, according to EIA estimates. This represents a net increase of 53 Bcf from the previous week. Stocks were

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