Cenovus floated as potential competing bidder for hostile takeover target MEG Energy
(BOE Report)– Oilsands giant Cenovus Energy Corp. has been cited by industry watchers as one of the potential competing bidders for MEG Energy Corp., which has spurned an unsolicited offer from Strathcona Resources Ltd. and launched a formal review of alternative options. MEG and Cenovus have neighbouring
Mexico proposes debt offering to help Pemex
(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
Analysis-Sliding US rig count outpaces efficiency gains, threatening onshore oil output
(Investing) – HOUSTON -The falling number of oil and gas rigs deployed across the United States is reaching a level that would indicate onshore crude output from the world’s top producer could fall in early 2026. U.S. energy companies are producing record amounts of oil,
U.S. steps up sanctions on Chinese imports of Iranian oil
(Oil Price)– The U.S. has sanctioned a fourth oil import terminal in China for receiving Iranian oil cargoes as the State Department expanded sanctions against entities involved in trade with Iran. The U.S. Department of State designated a fourth China-based crude oil and petroleum products terminal,
Record production at Exxon and Chevron humbles European rivals: Bousso
(BOE Report) – LONDON, Aug 5 – When playing catch up, picking up the pace may not be enough. One also has to hope rivals don’t accelerate. Just ask Europe’s energy majors. Exxon Mobil and Chevron’s bumper oil and gas output in the second quarter served
TotalEnergies starts production from two offshore Angola projects
(World Oil)– TotalEnergies has announced the start of production from the BEGONIA and CLOV Phase 3 offshore Angola projects, which together will add a total of 60,000 bpd of new production. The two subsea tie-back projects will deliver additional production leveraging available capacity on
bp hits oil at deepwater Brazil exploration well
(World Oil)– bp today announced an oil and gas discovery at the Bumerangue prospect in the deepwater offshore Brazil. bp drilled exploration well 1-BP-13-SPS at the Bumerangue block, located in the Santos Basin, 404 km (218 nautical miles) from Rio de Janeiro, in a
U.S., Pakistan sign deal to develop oil reserves, improve trade ties
(World Oil)– The U.S. sealed a trade deal with Pakistan as their officials wrapped up talks in Washington, agreeing to develop oil reserves. The pact involves a reduction of the so-called reciprocal tariffs, especially on Pakistani exports, according to a statement by Pakistan’s finance
Oil rises 2% on US-EU trade deal, Trump’s shorter deadline for Russia
(Investing) – NEW YORK -Oil prices rose 2% on Monday after a trade deal between the U.S. and the European Union, and U.S. President Donald Trump’s announcement that he would shorten the deadline for Russia to end its war in Ukraine or face sanctions. Brent
