After facing regulatory scrutiny, Exxon Mobil closed a roughly $60 billion acquisition of Pioneer Natural Resources. The largest shale oil transaction ever signed will reshape the order of power in the vast Permian Basin oil field.
The British petroleum giant is back in the Gulf of Mexico as the US gets stuck between the black stuff and going green By Javier Blas Javier Blas is a Bloomberg Opinion columnist covering energy and commodities. He is coauthor of “The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources.” …
Biden, BP and the High-Stakes Sequel to Deepwater Horizon Read More »
Antitrust regulators cited former CEO’s email, dinner partners Exxon agrees to exclude Pioneer Natural founder from board Bloomberg The Federal Trade Commission’s allegations that shale trailblazer Scott Sheffield tried to collude with OPEC to prop up crude prices is unnerving US oil executives pursuing more than $100 billion in deals. While Thursday’s green light from the FTC …
FTC’s Surprise Attack on U.S. Oil Icon Rattles Shale Sector Read More »
By Reuters (Reuters) – Pipeline operator TC Energy beat first-quarter profit estimates on Friday, helped by robust demand for liquefied natural gas (LNG). Demand in the U.S., the largest importer of Canada’s oil and gas, rose in the first quarter according to the U.S. Energy Information Administration, benefiting Canadian energy firms. Total earnings from TC Energy’s pipeline …
Pipeline Operator TC Energy Beats Profit Estimates on Strong LNG Demand Read More »
(Reuters) – Top U.S. oil and gas producer Exxon Mobil has won the approval of the Federal Trade Commission (FTC) to close its deal for Pioneer Natural Resources on the condition that former Pioneer CEO Scott Sheffield is kept off its board. The U.S. oil and gas industry went on a $250 billion buying spree in 2023 …
Biggest Oil and Gas Sector Deals Since the Start of the Century Read More »
(Reuters) – OPEC+ oil producers are making voluntary output cuts totalling about 2.2 million barrels per day (bpd) for the first half of 2024, led by Saudi Arabia rolling over an earlier voluntary cut. These curbs from the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, come on top of earlier reductions …
Explainer: What OPEC+ Oil Output Cuts are Currently in Place? Read More »
The marine offloading facility at the LNG Canada site is pictured, in Kitimat, Canada, September 2022. LNG Canada/Handout/ File Photo May 3 – The start-up of LNG Canada, the country’s first such export terminal, is likely to strain its natural gas supplies for multiple years and force producers to reduce exports to the U.S., where …
U.S. Stands to Lose Canadian Natural Gas When LNG Canada Terminal Starts Up Read More »
(Reuters) – Mexican export cuts and a rerouting of Canadian output are shrinking already limited supplies of heavy crude in the Atlantic basin, driving up refiners’ costs with a likely knock-on effect to industries ranging from shipping and construction to Middle Eastern power plants. Prolonged OPEC supply cuts and international sanctions on Venezuela, Iran and …
Heavy Oil Shortage Spells Higher Cost for U.S. Shippers, Road Builders Read More »
Targa Resources expects to take a final investment decision for the Apex pipeline out of the Permian Basin before the end of the year.
The 3-megawatt facility in Texas is expected to become the world’s first commercial geopressured geothermal system when it’s commissioned in December.
