(World Oil) – The Energy Department is canceling some $3.7 billion in government support for clean energy projects it said did not warrant continued backing from the Trump administration. The agency said the move came after it found the projects “failed to advance the energy needs of the American people, were not economically viable and would not generate a positive
(Oil & Gas 360) – MIDLAND, Texas, June 03, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc. (NASDAQ:VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), and Sitio Royalties Corp. (NYSE:STR) (“Sitio”) today announced that they have entered into a definitive agreement under which Viper will acquire Sitio in an all-equity transaction valued at approximately $4.1 billion, including
(BOE Report) – Venezuela’s oil exports remained almost unchanged last month as increased shipments to customers in China offset a decline in U.S.-authorized sales, according to vessel-tracking data and internal documents from state company PDVSA. The U.S. Treasury and State departments in March revoked the authorizations they had granted in recent years for PDVSA’s customers and partners to export oil
(Investing) – NEW YORK -Oil prices climbed about 2% on Tuesday to a two-week high, as persistent geopolitical tensions between Russia and Ukraine and the U.S. and Iran looked set to keep sanctions on both Russia and Iran in place for longer. Brent crude futures rose $1.11, or 1.7%, to $65.74 a barrel at 11:21 a.m. EDT (1521 GMT), while U.S. West
(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%
(Oil & Gas 360) – Publisher’s Note: EOG Resources will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown, August 17-20, 2025. Register to attend. HOUSTON, May 30, 2025 /PRNewswire/ — EOG Resources, Inc. (EOG) today announced a definitive agreement with Canada Pension Plan Investment Board (CPP) and Encino Energy under which EOG will acquire Encino Acquisition Partners (EAP or Encino) for $5.6 billion, inclusive
(BOE Report) – CALGARY – Strathcona Resources Ltd. has begun its formal takeover bid for fellow oilsands producer MEG Energy. Its offer comprises 0.62 of a common share of Strathcona and $4.10 in cash for each MEG share it doesn’t already own. The offer is open until Sept. MEG says its board and legal and financial advisers will consider the offer, and that a
