(WO) – Trio Petroleum Corp, a California-based oil and gas company, provided an update on the restart of the McCool Ranch oil field.
On Oct. 18, 2023, the company announced its acquisition of an approximate 22% working interest …
HOUSTON – Exxon Mobil Corp warned on Thursday it would write down about $2.5 billion of California assets in the fourth quarter, and said lower energy prices reduced operating profits.
The snapshot by the largest U.S. oil producer …
(Bloomberg) – Angola quit OPEC because its quota limits hindered the country’s plans to stabilize crude production above 1 MMbpd, according to the country’s top oil official.
The African nation’s December exit from OPEC came after the group …
(WO) – Danos has secured a contract with bp to renew its comprehensive drilling logistical services for the integrated energy company’s Gulf of Mexico assets, building on a relationship that began in 2017.
Leveraging the company’s 76 years …
This week’s Baker Hughes Rig Count shows that U.S. had a decrease of 1 over last week, resulting in a total count of 621 rigs. Canada had a decrease of 39 over last week, resulting in …
LONDON – Oil prices gained on Friday, as U.S. Secretary of State Antony Blinken prepared to visit the Middle East to try and prevent the Israel-Gaza conflict from widening.
Brent crude futures LCOc1 were up 44 cents, or 0.57%, …
LONDON – OPEC oil output rose in December, a Reuters survey found on Friday, as increases in Iraq, Angola and Nigeria offset ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance in support of the …
(WO) – APA Corporation and Callon Petroleum Company have entered into a definitive agreement under which APA will acquire Callon in an all-stock transaction valued at approximately $4.5 billion, inclusive of Callon’s net debt. Under the terms of …
TORONTO- Canadian energy, power and mining companies are expected to lead a rebound in dealmaking this year helped by lower interest rates, following a slump in overall mergers and acquisitions in 2023 to the lowest since the outbreak of …
(Reuters) -Oil prices fell 2% on Thursday, largely unwinding an earlier rally, as massive weekly gasoline and distillate stock builds overshadowed a larger-than-expected crude stock draw.
Brent crude fell by $1.57, or 2%, to $79.01 a barrel by …
The EIA has released its natural gas inventory report, showing a net decrease of 14 Bcf as of December 29, 2023.
Working gas in storage was 3,476 Bcf as of Friday, December …
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 5.5 million barrels from the previous week. At 431.1 million barrels, U.S. crude …
(WO) – Talos Energy Inc. has successfully started oil and natural gas production at its Lime Rock and Venice discoveries, located near its 100% owned and operated Ram Powell platform in the U.S. Gulf of Mexico. Talos owns …
The sovereign wealth funds of the Gulf Cooperation Council members topped $4 trillion last year, which was an all-time high.
Called the “Oil Five”, the group of top sovereign wealth funds includes three entities from the United Arab …
(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, …
(Bloomberg) – OPEC+ will resume its regular oil market monitoring meetings with an online session early next month, delegates said.
The Joint Ministerial Monitoring Committee, which includes group leaders Saudi Arabia and Russia, will convene in the first …
NEW YORK (Reuters) -Oil prices climbed about 3% on Wednesday after a disruption at Libya’s top oilfield added to fears that tensions in the Middle East could reduce global oil supplies.
Brent futures rose $2.44, or 3.2%, to …
Jan 2 (Reuters) – Chevron CVX.N said on Tuesday it would take non-cash writedowns on U.S. oil and gas production, primarily in California, and for securing abandoned wells and pipelines in the U.S. Gulf of Mexico that had been …
BIRMINGHAM, AL / ACCESSWIRE / January 2, 2024 / Diversified Energy Company PLC (LSE:DEC)(NYSE:DEC) is pleased to announce that it has closed an innovative transaction (the “Transaction”) that has allowed the Company to unlock additional value …
LONDON/DUBAI, Jan 2 (Reuters) – OPEC+ plans to hold a meeting of its Joint Ministerial Monitoring Committee (JMMC) in early February, though an exact has not been decided, three sources from the alliance said.
OPEC+, which comprises the Organization …
Ecuador’s state-run oil company, Petroecuador, has declared force majeure on three more oil blocks due to protests by the indigenous Kichwa community, just days after doing the same for another block.
The three blocks were jointly producing …
(Bloomberg) – Russia’s biggest liquefied natural gas (LNG) producer began production at its Arctic LNG 2 project — despite U.S. sanctions — in a move that could provide some relief to the tight global market for the fuel.…
Following last year’s chaos in the energy sector, there were fewer big energy stories in 2023. I think there was one really big story that is yet well-known, and then a big drop after that.
There were major …
(WO) — On Dec. 26, the U.S. Department of Energy’s (DOE) Office of Petroleum Reserves announced that contracts have been awarded for the acquisition of 3 MMbbl of U.S.-produced crude oil for the Strategic Petroleum Reserve (SPR).
According …
The U.S. Environmental Protection Agency (EPA) has formally granted Louisiana state primacy in the permitting and regulation of carbon capture projects, in a setback for environmentalists who claim these projects are an excuse to approve more operations that …
OPEC could potentially face further loss of market share in early 2024 following the recent departure of Angola, weakening demand and rising output by non-OPEC producers, Reuters claims, based on its own calculations.
Reuters reports that OPEC’s production …
(WO) – QatarEnergy has announced a five-year crude oil supply agreement with Shell International Eastern Trading Company, Singapore (Shell).
The agreement stipulates the supply of up to 18 MMbbl per annum of Qatar Land and Qatar Marine crude …
Dec 29 (Reuters) – International oil prices are likely to stay near $80 a barrel in 2024, a Reuters poll showed on Friday, as analysts predicted weak global growth would cap demand, while geopolitical tensions could provide support.
The …
