People

Source: Reuters

Saudi Aramco CEO says no peak in oil demand for some time to come

BOE Report


Global oil demand will not peak for some time so policy makers need to ensure sufficient investment in oil and gas to meet consumption and abandon the fantasy of phasing out the fossil fuels, Saudi Aramco CEO Amin …

Source: Reuters

Shell plans to cut 20% of jobs in its M&A unit

Oil Price


The ongoing job cuts at Shell are extending to the team handling mergers and acquisitions for the supermajor as the oil and gas giant is looking to eliminate around 20% of several hundred positions in the M&A unit, …

Source: Reuters

Biden’s SPR gamble sparks debate over U.S. energy security

Oil Price


The United States established its Strategic Petroleum Reserve (SPR) in the wake of the 1973–1974 oil embargo that disrupted oil imports and drove oil prices much higher.

The SPR consists primarily of several large underground salt caverns for …

Source: World Oil

IPAA: Biden fails to recognize importance of U.S. oil and gas in State of the Union address

World Oil


(WO) – In response to President Joe Biden’s comments on climate and oil and gas in his State of the Union address on Thursday night, Jeff Eshelman, President & CEO of the Independent Petroleum Association of America (IPAA) …

Source: Reuters

Mexican tycoon Slim cites interest in more oil investments, growing stake in Talos

Investing


MEXICO CITY-Mexican tycoon Carlos Slim is interested in increasing his investments in the oil sector, including in U.S.-based Talos Energy (NYSE:TALO)’s projects, after the billionaire businessman bought a stake last year in a major offshore project discovered …

Source: Oil Price

Mining billionaire slams carbon capture as ‘Falsehood’

Oil Price


Carbon capture has failed for decades and policymakers need real solutions to emissions reductions, not a “complete falsehood” such as CCS, according to Andrew Forrest, the Australian billionaire who is the founder of iron ore producer Fortescue Metals …

Source: Reuters

Petrobras CEO says Red Sea crisis could send oil above $90

World Oil


(Bloomberg) – Oil prices could top $90 per bbl this year if attacks escalate on ships in the Red Sea, according to the top executive at Brazilian state-controlled oil giant Petroleo Brasileiro SA.

“We have a very fragile
BP appoints Murray Auchincloss as permanent CEO

BP appoints Murray Auchincloss as permanent CEO

CNBC


LONDON — Oil and gas major BP appointed Murray Auchincloss as permanent CEO, the company said Wednesday.

His appointment comes roughly four months after his predecessor Bernard Looney resigned after less than four years in the post, citing undisclosed …

Source: APA

APA Corp. appoints former bp executive as President, CFO

World Oil


(WO) – On Jan. 9, APA Corporation announced that Stephen J. Riney has been promoted to President and Chief Financial Officer. Riney has served as Executive Vice President and Chief Financial Officer since joining APA in 2015.

Prior …

Netherland, Sewell & Associates, Inc. announces Executive Chairmen retirements

Netherland, Sewell & Associates, Inc. announces Executive Chairmen retirements

Oil and Gas 360


NSAI has announced the retirement of their Executive Chairmen – Danny D. Simmons and C.H. (Scott) Rees III, effective early 2024.

DALLAS, TEXAS, USA, January 9, 2024 /EINPresswire.com/ — Netherland, Sewell & Associates, Inc. …

Shale tycoon Harold Hamm wants to lure Gen Z to the oil industry

Shale tycoon Harold Hamm wants to lure Gen Z to the oil industry

Oil Price


Shale tycoon Harold Hamm and U.S. and European supermajors are looking to support university courses in petroleum engineering and related disciplines in a bid to attract young talent to the industry that’s not viewed favorably by Millennials and …

Source: Reuters

Phillips 66 in talks for non-core assets sale: CEO

Investing


U.S. refiner and petrochemical manufacturer Phillips 66 (NYSE:PSX) is in active discussions for a sale of its non-core assets, Chief Executive Mark Lashier said on Thursday during an energy conference.

Last year, the company said it would …

Source: World Oil

Pioneer Natural Resources Scott Sheffield officially retires, new CEO begins role

World Oil


(WO) – Pioneer Natural Resources Company announced that Richard (“Rich”) P. Dealy has commenced his new role as Chief Executive Officer (CEO), and Scott D. Sheffield has transitioned to the non-executive role of Special Advisor to the CEO, …

Source: Reuters

Shell extends job cuts as CEO seeks to trim costs

World Oil


(Bloomberg) — Shell Plc has begun cutting jobs beyond previously announced reductions in its low-carbon division as CEO Wael Sawan seeks to trim costs and be more competitive with U.S. rivals, people familiar with the matter said.

Roles …

Source: Reuters

ANALYSIS-Mexico’s Sheinbaum spurs hope of more private investment in energy after Lopez Obrador

Nasdaq


MEXICO CITY (Reuters) – The favorite to be Mexico’s next leader will likely be more open than her mentor President Andres Manuel Lopez Obrador to private investment in energy in order to help fund her renewable power push at …

Flotek CEO Ryan Ezell interview

Flotek CEO Ryan Ezell interview

 

Publisher’s Note: Flotek’s (NYSE: FTK) CEO Ryan Ezell was interviewed for the December 2023 issue of  The American Oil and Gas Reporter in which he discussed the benefits of Flotek’s fit-for-purpose prescriptive chemistry and data solutions and the proven,

Source: Reuters

Exclusive: BP short-lists three internal candidates for CEO

Nasdaq


LONDON – BP’s BP.L board has short-listed interim CEO Murray Auchincloss and two senior female executives as internal candidates to replace Bernard Looney as chief executive, three company and industry sources told Reuters.

BP was thrown into turmoil after …

Source: Reuters

BP’s former CEO forfeits £32 million pay on misleading board

Yahoo Finance


(Bloomberg) — BP Plc’s former Chief Executive Officer Bernard Looney will forfeit as much as £32.4 million ($40.6 million) in pay after resigning in September because he lied about his personal relationships with other employees.

“Mr Looney knowingly …

Source: Reuters

BP’s search for new CEO to extend into next year as Looney probe drags on

Nasdaq


LONDON – BP’s search for a new chief executive is set to extend into the first quarter of 2024, three sources told Reuters, while the board’s probe into whether previous CEO Bernard Looney breached the code of conduct in …

Source: World Oil

Former U.S. Deputy National Security Advisor joins ExxonMobil’s board of directors

World Oil


(WO) – Exxon Mobil Corporation announced that Dina Powell McCormick will join its board of directors, effective Jan. 1. Ms. Powell McCormick is currently Vice Chairman, President and Global Head of Client Services at BDT & MSD Partners, …

Source: World Oil

Railroad commissioner opposes anti-oil, gas indoctrination of Texas students

World Oil


AUSTIN – The Texas State Board of Education (SBOE) issued its Proclamation 2024 which will determine the types of textbooks and materials for Texas students in the 2024-2025 school year. As a part of the public comment, Railroad …

Source: World Oil

Oil worker wages hit U.S record amidst slowing shale activity

World Oil


(Bloomberg) –Wages for U.S. oil workers climbed for a third straight month, setting a fresh record as paychecks prove resilient amid slowing shale activity. Average hourly earnings for front-line oil-and-gas workers rose 0.9% in September from the previous …

Source: World Oil

API: EPA’s proposed NAAQS revisions “jeopardize” American jobs, risk “substantial” economic harm

World Oil


(WO) — The American Petroleum Institute (API) joined with over 70 other trade groups representing diverse businesses across the economy in urging the Biden administration to maintain the existing National Ambient Air Quality Standards (NAAQS) for fine particulate …

November 2, 2023 - 3:30 pm Closing Bell Story‎, Crude Oil News, Economy, Jobs, People, Regulatory
Source: Reuters

Saudi Aramco CEO: COP28 should focus on cutting fossil fuel emissions, not output

Nasdaq


LONDON – The chief executive of oil giant Saudi Aramco 2222.SE, said on Tuesday this year’s COP28 U.N. climate conference should focus on cutting emissions from hydrocarbons, rather than reducing their production.

CEO Amin Nasser was speaking at …

Source: World Oil

Argentina energy mogul bets on shale gas amidst looming presidential election

World Oil


(Bloomberg) – To get to Marcelo Mindlin’s desk in his downtown Buenos Aires office, guests must walk past a big steel ring — a cross-section of natural gas pipeline. The hunk of metal epitomizes the views of Mindlin, …

Source: Reuters

Exxon CEO to save $2 billion with Pioneer purchase with minimal job cuts

World Oil


(Bloomberg) – Exxon Mobil Corp. expects to trim annual costs by about $2 billion as it integrates the $60 billion purchase of Pioneer Natural Resources Co., said Chief Executive Officer Darren Woods.

About two-thirds of the savings will …

Source: Oil Price

Hamas attack brings Middle East war premium back to oil markets

Oil Price


War premium returned to the oil market on Monday after the weekend attack by Hamas on Israel, which upended—again—the geopolitical landscape in the world’s most important oil-exporting region, the Middle East, and buried hopes of an imminent Saudi-Israel …

Energy workforce “most resilient” industry in nation as jobs continue slow but steady climb

Energy workforce “most resilient” industry in nation as jobs continue slow but steady climb

World Oil


(WO) — The United States added 838 jobs in September, according to preliminary data from the Bureau of Labor Statistics (BLS) after adjustments to August numbers and analysis by the Energy Workforce & Technology Council. While updated numbers …

Source: Reuters

U.S. bp executive resigns weeks after “abrupt” resignation of CEO Bernard Looney

World Oil


(Bloomberg) – bp Plc.’s U.S. President David Lawler is leaving the British oil giant, becoming the second top executive to quit this month after Chief Executive Officer Bernard Looney abruptly resigned.

Lawler, who had been with bp …

Source: Reuters

Oil headed for $150 without US support for more drilling, shale CEO says

Yahoo Finance


(Bloomberg) — Oil is headed as high as $150 a barrel unless the US government does more to encourage exploration, according to Continental Resources Inc., the shale driller controlled by billionaire Harold Hamm.

Crude output in the Permian …