Post Tagged with: "360 News Desk"

Source: Reuters

On COP28 sidelines, philanthropies invest $450 million to help tackle methane

Yahoo News


DUBAI – Nearly a dozen deep-pocketed philanthropies announced on Saturday they will invest $450 million over the next three years to help countries launch national actions to tackle methane, the second-most prominent greenhouse gas, which has become a …

Source: World Oil

Biden administration’s new methane rule to hamper U.S. oil, gas production, trade associations warn

World Oil


(WO) – On Saturday, Dec. 2, the Biden administration unveiled a new methane emissions rule at COP28 aimed at “sharply reducing methane and other pollutants from the oil and natural gas industry” by “promoting the use of cutting-edge …

Source: Oil Price

$11-billion takeover bid for Australia’s top utility collapses

Oil Price


Not enough shareholders of Australia’s top energy retailer, Origin Energy, backed on Monday a takeover bid from a Brookfield-led consortium of investors, leading to a collapse of a proposed $11-billion deal.

A total of 68.92% of the votes …

Source: Reuters

Shale driller CrownRock CEO has potential to reshape Texas politics with potential $10 billion Oxy sale

World Oil


(Bloomberg) – Oil tycoon Tim Dunn has spent millions to try to influence Texas to lean toward his conservative politics. Now, as he considers bids for his drilling company that’s said to be valued at more than $10

Source: World Oil

Occidental jet visits Warren Buffett’s hometown amidst potential $10 billion shale deal

World Oil


(Bloomberg) – Occidental Petroleum Corp.’s private jet touched down in Omaha this week, home to its biggest investor Warren Buffett, as Chief Executive Officer Vicki Hollub considers a shale oil deal worth at least $10 billion.

The plane …

Source: Reuters

Brazil to join OPEC+ but won’t cap oil output, Petrobras CEO says

Nasdaq


RIO DE JANEIRO – Brazil is expected to join the OPEC+ group of oil-producing countries in January but would not take part in the group’s coordinated output caps, the chief executive of state-run oil firm Petrobras PETR4.SA told Reuters.…

Source: Oil Price

Oil revenues send Alberta’s budget surplus soaring

Oil Price


Revenues from the oil industry have pushed Alberta’s projected budget surplus for this year to twice as high as initially expected, at $4.1 billion, or C$5.5 billion. In addition to revenue from oil royalties, the budget surplus for …

SilverBow Resources announces closing of Chesapeake acquisition and provides updated 2023 guidance & preliminary 2024 outlook

SilverBow Resources announces closing of Chesapeake acquisition and provides updated 2023 guidance & preliminary 2024 outlook

Oil and Gas 360


11/30/2023 – Completed transformational acquisition of Chesapeake’s remaining South Texas assets

Preliminary 2024 outlook of 551-611 MMcfe/d; liquids to comprise ~40% of production mix

Anticipated 2024 capex of $550-$580 million supports 3-rig drilling program

The Company

U.S. rig count had an increase of 3 this week, at 625

U.S. rig count had an increase of 3 this week, at 625

Oil and Gas 360


This week’s Baker Hughes Rig Count shows that U.S. had an increase of 3 over last week, resulting in a total count of 625 rigs. Canada had a decrease  of  5 over last week, resulting in …

Source: Reuters

Colombia’s Ecopetrol to invest up to $6.7 bln in 2024

Nasdaq


BOGOTA – Colombia’s state-run oil company Ecopetrol ECO.CN will invest between $5.7 billion and $6.7 billion and produce up to 730,000 barrels per day equivalent (boepd) in 2024, it said in a statement.

A majority of that spending, about …

Source: Reuters

Oil prices stabilise after slump on underwhelming OPEC+ cuts

Investing


Oil prices were broadly steady on Friday following a 2% drop on Thursday, with the market unconvinced that the latest round of production cuts by the OPEC+ coalition will be able to lift prices out of their recent slump.…

Source: Oil Price

U.S. investment firm EIG closes in on a multi-billion-dollar LNG acquisition

Oil Price


EIG Global Energy Partners expects to announce soon a deal of several billion U.S. dollars to buy an LNG asset in addition to a stake in an Australian project, EIG chief executive officer R. Blair Thomas said in …

Source: World Oil

Northeast Natural Energy received “industry-first” ESG grade for Marcellus shale natural gas production

World Oil


(WO) – Northeast Natural Energy, a West Virginia-based Marcellus shale natural gas producer, has just become the first producer globally to receive an “A” letter grade from Equitable Origin (EO) for the ESG performance of its West Virginia …

November 30, 2023 - 12:30 pm Closing Bell Story‎, Crude Oil News, ESG, Natural Gas News
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: Oil Price

Russia’s biggest oil and gas exporters see revenues slump by 41%

Oil Price


Total revenues for Russia’s largest oil and gas exporters plunged by 41% between January and September compared to the same period last year, due to lower commodity prices and lower exports, Russia’s central bank said on Thursday.

Oil …

Weekly Gas Storage: Inventories increase by 10 Bcf

Weekly Gas Storage: Inventories increase by 10 Bcf

Natural Gas Inventories as of November 24, 2023

The EIA has released its natural gas inventory report, showing a net increase of 10 Bcf as of November 24, 2023.

Working gas in storage was 3,836 Bcf as of Friday, November …

Source: Reuters

Activist investor Elliott buys $1-billion stake in U.S. refiner Phillips 66

Oil Price


Elliott Investment Management, an activist investment group, said on Wednesday it had amassed a $1-billion stake in one of the largest U.S. refiners, Phillips 66, and expressed dissatisfaction with the company’s underperformance in recent years.

 

Apart from …

November 29, 2023 - 3:30 pm Closing Bell Story‎, Crude Oil News, Downstream, Energy News, Finance
Source: Reuters

Cheniere and Foran Energy Group sign long-term LNG sale and purchase agreement

Oil and Gas 360


20-Year SPA is First Contract Expected to Support Second Train of Sabine Pass Expansion Project

HOUSTON–(BUSINESS WIRE)– Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE American: LNG) announced today that Cheniere’s subsidiary, Cheniere Marketing, LLC (“Cheniere …

November 29, 2023 - 2:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Finance, LNG
Source: Reuters

COP28 president denies reports of plans to use climate Summit to push oil deals

Oil Price


COP28 President Sultan Al Jaber, who is also group CEO of the Abu Dhabi National Oil Company (ADNOC), denied on Wednesday reports of plans to use the climate summit in Dubai for pushing oil deals.

Al Jaber’s presidency …

November 29, 2023 - 12:30 pm Climate Change, Closing Bell Story‎, Crude Oil News, Energy News
API: U.S. energy leadership strengthens national security, advances innovation

API: U.S. energy leadership strengthens national security, advances innovation

World Oil


WASHINGTON, November 29, 2023 – American Petroleum Institute (API) Executive Vice President and Chief Advocacy Officer Amanda Eversole testified before a U.S. House Committee on Energy and Commerce subcommittee, highlighting the critical role of American energy leadership in …

Source: Reuters

Oil gains ahead of OPEC+ meeting as Black Sea shutdowns provide support

Yahoo Finance


LONDON – Oil prices rose on Wednesday as investors turned their attention to an OPEC+ meeting to decide on output policy, while supply disruption caused by a storm in the Black Sea combined with lower U.S. inventories to …

U.S. crude oil inventories increase by 1.6 million barrels

U.S. crude oil inventories increase by 1.6 million barrels

Weekly Crude Oil Storage as of November 24, 2023

 

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 16 million barrels from the previous week.  At 449.7 million barrels, U.S. crude …

Baytex Energy sells Canadian oil assets for $113 million

Baytex Energy sells Canadian oil assets for $113 million

World Oil


(WO) – Baytex Energy Corp. has entered into a definitive agreement to sell some of its Viking assets located at Forgan and Plato in southwest Saskatchewan, effective October 1, 2023, for $153.8 million. Production from the assets is …

Source: Reuters

US kicks off a spate of oil and gas auctions just as COP28 gets underway

Nasdaq


The Biden administration on Tuesday will auction off 35,000 acres (14,164 hectares) of land in Wyoming to oil and gas drillers, the first in a series of such sales that will coincide with a United Nations’ conference aimed at …

Source: World Oil

Oil executives flock to Venezuela despite sanctions relief uncertainty

World Oil


(Bloomberg) – Oil executives are flocking to Venezuela to take advantage of lighter U.S. sanctions, even though there’s a risk that access to the world’s largest oil reserves might snap shut as quickly as it opened.

Companies including …

Source: Oil Price

ESG loan bubble close to bursting

Oil Price


Sustainability-linked loans, or SLLs, have only been around for a few years. In that short time, they have ballooned into a market worth $1.5 trillion. But now, as scrutiny comes for sustainability claims with no substance, that market …

November 28, 2023 - 12:30 pm Carbon Capture, Closing Bell Story‎, Energy News, ESG, Finance
Source: Reuters

OPEC+ looking at deeper oil cuts ahead of Thursday meeting

Today


LONDON :OPEC+ is looking at deepening oil production cuts despite its policy meeting being postponed to this Thursday amid a quota disagreement between some producers, an OPEC+ source said on Monday.

Several analysts have said they expect OPEC+ to …

Source: Reuters

Oil prices rise over 2%; focus on OPEC+, storm-hit Kazakh output

Yahoo Finance


NEW YORK – Oil prices jumped over 2% on Tuesday on the possibility OPEC+ will extend or deepen supply cuts, a storm-related drop in Kazakh oil output and a weaker U.S. dollar. Brent crude futures were up $1.88, …

Source: Reuters

OPEC source tells Reuters bigger cuts a likely option

Oil Price


An OPEC+ source told Reuters on Monday that the expanded cartel is considering bigger oil output cuts during its November 30 meeting, which was originally delayed for four days over a production quota dispute between OPEC leaders and …

Source: Reuters

Oil supply running ahead of demand before delayed OPEC production policy meeting

World Oil


(Bloomberg) – Ahead of the delayed OPEC+ meeting on Thursday, there are indications oil supply is running ahead of demand, highlighting the thorny challenge facing the group as it prepares to set production policy for 2024.

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