(By Oil & Gas 360) – This week, energy markets moved from cautious to volatile. Escalating tensions involving Iran pushed oil prices sharply higher, disrupted shipping routes, and sent LNG freight rates surging. At the same time, capital continued flowing into shale and infrastructure assets, reminding investors that even during geopolitical shocks, the long-term energy investment cycle keeps moving. This
(World Oil) – Frontera Energy said it has received a binding offer from Parex Resources to acquire the company’s upstream oil and gas assets in Colombia, determining that the proposal constitutes a “superior proposal” to its previously announced agreement to sell the same assets to GeoPark. Under the Parex offer, the company would acquire Frontera’s Colombian exploration and production business for $500 million in cash at closing,
(By Oil & Gas 360) – Energy markets are increasingly being driven by geopolitical risk rather than traditional supply-demand fundamentals, and major banks are beginning to adjust their outlooks accordingly. Investment banks have started lifting crude price forecasts as tensions around the Strait of Hormuz raise the possibility of supply disruptions from one of the world’s most critical energy corridors.
(BOE Report) – BP Chairman Albert Manifold on Friday announced plans for a slimmer board as part of the British oil major’s reset strategy, with former Shell chief financial officer Simon Henry among those departing. The leaner board is another of Manifold’s changes since coming on as chairman in October. Since then, Murray Auchincloss abruptly departed as CEO in December, with Woodside
This week’s Baker Hughes Rig Count shows that the U.S. increased by 1 last week, resulting in a total count of 551 rigs. Canada had a decrease of 9 over last week, resulting in a total Canadian count of 205 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Eagle Ford, Haynesville, Marcellus, and Permian regions experienced
(World Oil) – The International Energy Agency said it sees no need yet to release emergency oil stockpiles amid the Middle East crisis, as global oil supplies are plentiful and the impact appears likely to be temporary. “All options are on the table, but there are no plans for a collective action at this stage,” IEA Executive Director Fatih Birol
(Investing) – Oil prices soared Friday, with Brent climbing above $90/bbl, after the release of weak U.S. jobs data, adding to previous gains as the escalating conflict in the Middle East raised concerns over global supply disruptions. At 09:30 ET (14:47 GMT), Brent Oil Futures expiring in May gained 6.6% to $91.10 per barrel, while West Texas Intermediate (WTI) crude futures gained 9.5%
