(World Oil) – Mexico kicked off a debt offering to support beleaguered state-owned oil company Petroleos Mexicanos. The offering will consist of dollar-denominated debt maturing August 2030, according to a person familiar with the matter. Initial price talks are around 200 basis points over U.S. Treasuries, added the person, who requested anonymity because the information is private. The deal will
(BOE Report)– Refiner Phillips 66 beat Wall Street estimates for second-quarter profit on Friday, helped by higher refining margins and lower turnaround expenses. Top U.S. refiners were expected to post higher second-quarter profit, rebounding from losses in the prior quarter as stronger-than-expected diesel margins lifted earnings. The improved margins helped peers such as Valero Energy surpass Wall Street estimates.
(Oil Price)– Brazil has revised its rules for setting the reference price for crude oil produced in the country in a bid to boost government revenues from royalties paid by oil companies operating in Brazil. The new mechanism could result in a royalty revenue boost of some $181 million, Reuters reported, citing the country’s energy minister, Alexandre Silveira. The new rules
(Oil Price)– Although the outlook on oil prices and demand has become increasingly uncertain in recent months, analysts continue to recommend the underperforming energy stocks as a good bet for investors. Energy has the highest share of the stocks with “buy” recommendations of all 11 sectors of the S&P 500, according to ratings from Wall Street analysts compiled by Bloomberg. Many
(World Oil)– Chevron Corp. is cutting almost 650 jobs in the Houston area and North Dakota after completing the $53 billion takeover of Hess Corp. The reductions include 575 positions in Texas and 70 in North Dakota, and will take effect Sept. 26, according to a Chevron spokesperson on Wednesday. Chevron formally closed on its acquisition of Houston-based Hess at
(Investing) – HOUSTON -Volatility across energy and equity markets spooked investors in the second quarter, slowing the pace of mergers and acquisitions in the U.S. upstream oil and gas sector, analytics firm Enverus said on Wednesday. The slump in dealmaking follows a series of blockbuster takeovers by oil and gas majors in recent years, which culminated in a record $192 billion
(Oil & Gas 360) – Register for EnerCom Denver – The Energy Investment Conference, August 17-20, 2025, featuring a broad group of public and private energy companies at www.enercomdenver.com at The Westin Denver Downtown. Conference Lineup Features C-Suite Representation from over 75 Confirmed Companies Industry Panel Topics Include The Resurgence of Exploration, Private Companies, The Rise of Asset-Backed Securitization and Private
(World Oil)– BP Plc has agreed to sell its U.S. onshore wind business to LS Power, as the company continues efforts to pivot back toward its core oil and gas business and reverse years of share underperformance. The deal completes the UK energy giant’s exit from wind power generation, transferring ownership of 10 assets across seven US states, according to
(BOE Report)– ExxonMobil has lost its arbitration challenge to block Chevron’s $55 billion Hess acquisition deal, but the top U.S. oil producer managed to delay the tie-up by over a year, costing its rival billions in lost Guyana oil revenue and slowing integration. Chevron’s deal, first announced in October 2023, closed on Friday after a drawn-out dispute over Hess’s 30%
(World Oil)– SLB, the world’s largest oil-services provider, sees resiliency in the industry and remains constructive about the second half of 2025 despite uncertainties in customer demand. “Despite pockets of activity adjustments in key markets, the industry has shown that it can operate through uncertainty without a significant drop in upstream spending,” SLB Chief Executive Officer Olivier Le Peuch said in a
(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
(World Oil)– SLB has successfully completed its previously announced $7.8 billion acquisition of ChampionX. The announcement follows a period of regulatory delays amid competition concerns, with the final regulatory hurdle being cleared yesterday as UK’s Competition and Markets Authority approved the deal to move forward. The acquisition strengthens SLB’s leadership in the production and recovery space. The integration of ChampionX
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
